Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-01-03
SOME STARTLING FIGURES.
Prompt Congregational Action Neees-
saFy-Payments Are BE.
hind Hand.

by the figures made up last night at the
department for the close Of the calendar
year. These figures show q loss already
since July Of $34.OOO.OO0 in the excess of
expenditures over receipts. They show a
probable loss during January and February
Of eighteen millions more and loss for the
fiscal year ending with next June Of more
than seventy-five millions. The treasury
balance is s9O.375, 555 loss of $4,s2i, 061
during December. This balance includes
$50 1871, 600 in the gold reserve and So, ass, 955
In currency, representing every resource
which the government possesses except the
silver bullion purchased under the Sherman
law to redeem outstanding gold obligations
and to meet current expenditures. A loss
of eighteen millions during the next two
months will carry the gold fund close to 90
millions and leave the department still
cramped for paper currency for ordinary
transactions. A loss of seventy-six millions
for the fiscal year will carry the general
cash balance down to $46,OOO,OO0 and the
gold reserve to $35.OOO,OOO. The treasury
officials are powerless. even by the most
rigid economy. to avert this condition Of
things without the assistance Of Congress
and Secretary Carlisle will be compelled
to present the case strongly to the COM
mittees of the two houses Immediately
a1ter their assembly.
Estimate for This Year.
The estimate made up in detail for the
present fiscal year, ending next July, shows
expenditures of 1919 ,OOO and receipts Of
$500. 100000 Pension expenditures are put
down at Sl50,O00.0 900. interest on the public
debt at $4,000, 900, the War Department at
$55.00000O. the navy at $33, OOO.0 900. the In
dams at $1,000, 900, and the civil and mis-
col 10 vlza
estimated receipts from customs are $140.-
100000. from internal revenue $143.O000O0
and from miscellaneous sources $4,000. 000
Figures for the Next Two Months.
The figures for the next two months
carefully compiled by the experts of the
department. show receipts Of SO, 0OO 00O
for January and $19.9O0.OOO for February,
with expenditures Of $33 300. 900 for January
and $27. 600, 900 for February-an excess OF
expenditures for the two months Of s1s,-
100000. The reduction Of the gold reserve
to its present low figures is doubly danger
Gus at this season of the year. January is
Invariably a month Of gold exports, and the
average loss Of gold to the treasury in JAM
uary for the past twelve years has been
$9,6OO.OOO. The loss in January. 1890 was
$40, 900, the loss in 1891 s7,300,O00 in
1892 $11, 100000 and in 1893 $13, 100 QUO. A
drain of thirteen millions during the pres
ent month would cause great anxiety at
the treasury, and perhaps renew the panic
Of last summer.
The Only Safeguard.
The only safeguard the treasury officials
have against it is the large accumulation
of gold in the New York banks, from which
they are hoping that gold will be taken for
export, and the gold held against certifl-
Gates, Of which 81, 4S7, 100 is still outstand-
ing. The banks, it is believed. would come
to the assistance Of the treasury IL an at
tempt were made to pile a drain of thirteen
millions for export on top of the loss Of elev-
en- millions which will occur during January
for interest and current expenditures. The
loss Of both these amounts in gold would
leave only hfty-seven millions Of gold in
the treasury vaults as the pledge and guar
antee Of more than ten times that amount
in paper money In circulation payable in
gold on demand.
Dimcult to Get Money to Move the
Cotton Crops.
II members of Congress from the south
and west arc callous to the crying necessi-
ties of the treasury, their interest may be
awakened by the fact that 1t il becoming
every day more difficult to meet the de-
mand for money to move the cotton crop
Of the south. 1t is estimated that five mil
lions in gold will have to be transported
from Philadelphia to the New Orleans mint
during January and February to meet the
payments Of over $4,000 per day which are
usually made in currency in response to
transfers from New York. The usual pro-
cess is for the New York banks to deposit
gold or paper money at the New York sub
treasury with the request that II be paid
for in shipments Of small silver certificates,
Sherman notes or legal tender notes to New
Orleans. These various forms of paper are
no longer available, and the only shipment
the government can make is gold coin, for
the coinage Of which preparations are now
being made at New Orleans and Philadel-
phia- The amount now available at New
and $1,70O.OO0 in uncoined bullion. Mr.
Preston, the director OF the mint has sub
mitted an estimate that about S250,000 a
month can be coined in addition to the sub
sidiary silver coinage required by ordinary
demands so that the Philadelphia mint will
have to be put to work to supply the de-
fciency.
Payment of Sugar Bounties.
The payment Of gold on ordinary obliga-
tions, with the threat of a demand for gold
for export, is causing great uneasiness at
the treasury and the most careful inspection
of every warrant drawn for expenditures
The payment OF the sugar bounties, which
will increase the demands at New Orleans
is like drawing teeth in the present state OF
the treasury balance and they are being de-
layed as far as circumstances will warrant
The claims for bounty already presented
during the past six months have been
A,O14,1I9. but the payments thus far have