The Big Stone Gap post. [volume] (Big Stone Gap, Wise County, Va.) 1892-1928, 1894-01-04
MONEY NEEDED.
After the Holiday Recess Congress
May Be Compelled to Consider
so,ne Measure for the Relief Of the Treass
ury-The Receipts From the Customs
and Internal Revenue Fall very
Far Below Former Figures

WAsurSGyoS. Dec. 9.-1ndicatlons
point to the probability that immediate
" after the holiday recess congress
NAV be compelled to consider some
measures for the relief OF the treasury,
oven before tho Hawaiian question and
Wilson tariff bin are disposed Of
In his report to congress Secretary
corl;sle's statement Of the condition OF
the treasury was frank enough to make
immediate action Indispensable, but
even his frankncss has been out
done by The official statement OF
the condition OF the treasury pub
lishcd Thursday. The treasury bal
ance has been carried down to SIS, 9l4,-
COG. of which $50, o24, 7G6 was in gold
and Sc, $50, 500 was currency. More"
over, the receipts of the treasury are
constantly running down and there is
absolutely no prospect OF change for
tho better. The expenditures for De-
cember have so far exceeded the re-
ceipts by $500, 900, making total de-
felt for the first six months OF the
fiscal wear about s35, 900, 900.
The customs receipts for December,
s7S4s. 900, IRE the lowest for any month
since 1879 The months receipts Will
be little more than half of the customs
receipts for last December A less OF
Sc, oo0, 900 month, if continued must
soon not only further invade, but ex-
haust the gold reserve.
The receipts from internal revenue
taxes have also steadily decreased.
Thus. for instance, the receipts from
internal revenue for the month OF De-
cember up TO the present time have
been only 80, TAI, 600, while the internal
revenue receipts for the corresponding
month for last year were $l4, S4", S3o,
showing a decrease in even internal
revenue receipts OF nearly 40 per cent
The situation is aggravated by the
fact that Joprary payments are about
to fall due. These include nearly Sc
600, 600 of interest on 4 per cent bonds
and Pacific railroad IS, In addition,
the quarterly payment of pensions,
amounting to between sl2, 600, OOo ana
sl3, 900, 600, must be met. This lends
emphasis to prophetic warning ex-
pressed by Secretary Carlisle in his re-
cent rerort that unless some prompt
measures were taken by congress PEN
siouers and other creditors of the gov
eminent might De subject to great IN
convenience and delay.
Ali these elements go to show that
the situation in the treasury depart
mcnt is one to which congress can not
longer shut it's eyes. Something must
be done, and that Immediately. 1t IS,
therefore, probable that congress will
be urged to act at once upon the recon-
mcndation of Secretary Carlisle, look
ing to an issue Of bonds and authoriz-
ing the secretary to issue certificates OF
Indebtedness redccmablc within one
year
There will be meeting of the cabi-
not Friday, at which the propriety OF a
special message to congress will be
considered, although with facts and
figures already in the possession OF the
legislative branch of the government
and after Secretary Carlisle's strong
statement of the situation further ac-
ton on the part of the executive would
seem to be unnecessary.
Many democratic members cling TO
their objection TO increasing the inter
est bearing debt of the government
during a democratic administration.
They will be aided in their opposition
by the populists who will renew their
familiar cry that bond issue will
merely inure to the benefit of the ma
tional banks and of financial centers OF
the east Mr. Cleveland will exert all
his influence to club recalcitrant demo
Gratis into submission.