The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1894-01-16
1898
Total SlCl oso. asa o. s,s .aos .2sSs, %

IF the same average monthly dehcien.
cies should continue the total differences
between receipts and expenditures OH the
Both of June next will be S1S, ,161 ,542. Ac-
cording to the best estimate that can be
made the total receipts during the present
month and the month Of February will be
sil.9oO,O00, and the total expenditures
will be S60.3o0.0Oo, showing deficiency
during the two months of Sl8, 100000, but
this does not include any payments on ac-
count of the sugar bounty, claims for
which to the amount of nearly $4,000
have already been presented and are now
under investigation IN the department.
The assets in the treasury aud the current
liabilities in excess of the certificates and
treasury notes outstanding were rs fol.
lows on the 18th day of the present month:
Gold, S74, los, ,ls9; silver dollars and bullion,
5000 PSF; fractional silver coin 81, ,l33, ,903;
United States notes. s503l, ,212; treasury
notes of 1890. S2,4I6,0o0; national bank
notes. Sl4, ,135; minor coins, S93s, ,s25;
deposits i'm banks. Sl5.470,s53. Total cash
assets, sl32, ,327 $50; liabilities, bank note
per cent. fund, S1,19s,219; outstanding
checks aud drafts. S,l6i,07; disbursiny
officers balances, S2s,116.li9; post Office
department account, s3,s97.7i,; uudis-
turbed assets OF failed national banks,
Sl.927, 121; District Of Columbia account.
Sl44,33o; total account, SAG, ,as6. 1856; gold
reserve, S7i.Ol5.549; net balance, Sll 3D.
37i. Total liabilities, sl32. .s77. .Ss9.
1T will appear from this statement that
the coin reserve has been reduced to s1i,.
los, ,149, and II is evident from the condi-
ton of the treasury the department will
have no means to defray the ordinary ex-
penses Of the government unless large
part of the payments hereafter made are
out of that fund. II this Is done, the coin
reserve will be reduced by the first OF
February to about S66,6Ol 1854. o sum
wholly inadequate for the purpose for
which lit was created. On account
of this critical condition of the
treasury have considered il my duty, in
addition to the earnest recommendations
contained in my annual report, 10 appear
twice before your committee and, after q
full explanation OF the situation, TO urge
prompt legislative action on this subject
With tho permission OF The committee,
have prepared and presented for consid-
Grafton bill which, il properly passed,
would, in my opinion, meet all the re-
quircments of the situation by providing
the necessary means for defrayIng the
public expenses and rep!enishing the coin
reserve to such an extent as TO assure the
maintenance on a parity of all forms Of
United States currency. While this pro-
posed measure OF relief has not yet been
disposed Of or considered by your com.
mit,ee. the great differences Of opinion
which are known TO exist In both branches
of congress concerning the proprieiy Of
granting additional or amended authority
TO issue bonds in any form or for any pur.
pose. render il doubtful whether now leg
islation upon the subject can be secured
in lime to provide means which arc i'm.
pcratively demanded in order 10 preserve
the credit and honor of the government.
Authority to issue and sell bonds for the
purpose OF maintaining specie payments
wac expressly conferred upon tho secre.
tnry OF the treasury by an act Of Jan. IA.
ls7S, but has not been exercised since 1873