The times. [volume] (Richmond, Va.) 1890-1903, 1894-06-02
THE GOLD-RESERVE LOW
DECIDED DECLINE SHOWN IN THE
DEBT sTATEMENT,
But the Marked Falling on In the Ordinary
Revenues Is Causing the Most Uneasi-
uess In Treasury Circles.

WASHINGTON, d. c., June 1.-The
debt statement shows a net increase In
the public debt less cash in the Treas
ury during May OF s6,60S,oSo Gents omit
tedJ.
The interest-bearing debt increased s4oo;
the non-interest debt decreased So4O,s's'
the cash in the Treasury decreased Sl,2io'-
450.
The balances OF the several classes OF
debt at the close OF business May Sist Sist
were: lnterest-bearing debt, sooo,Vfi;, l;nss ,SIy,
DEBT on which interest has cedseu sl"SO
maturity. N.SoS, 800; debt bearing no inter-
est, $3.50 b,329. Total, n,0l6,yl6,ooO.
The certificates and treasury notes OH
set by an equal amount OF casn IN tne
Treasury outstanding at the end OF tne
month were ss2l. ~, ,445, an increase OF
81, los $50. The total cash in the treasury
was S7s3 2S3. .26i; the gold reserve was
SIS 6y3. .267; net cash balasce, S3s' ,Voo.
cold I'D coin coli % and bars Of s2S,l2is4I. the total
at the close being Slio,OOl ,sl6. OF sh.er
there was an increase OF sS'6 40. VI tle
surplus there was in National bank
depsitories. Sl6,93932O, against si0''i"''i' ~
the end of the previous MONTH
CAUSE OF THE LOSS OF GOLD.
The shipment OF gold from the Treasury
has nearly wiped out all the gcld recelESu
hW the bond issue OF last "
The Treasury is losing gold by export II
is also losing It in Boston, fpiadeiphia'
and New York by withdrawaIs III (,ta VtHl,
nary business transactions. In the clties
named the gold is finding it's way INTO ,,s tne
banks. In most Of the cities or the y esI
the Treasury is daily gaining goiu AZ
exchange for legal tenders, on one uds
of this week receiving 100000 IN ~. L%Vuls %
for United States notes delivered IN neM
York TO the banks credit. Similar oner-
ings have been received by the Treasury
to-day and several day or two ago, put
only those are accepted that direcuy
benefit the Treasury.
Gold received for customs duties at New
York during May amounted only 10 70
per cent, against Is per cent SIX months
ago.
While there is no present prospect OF
a cessation Of gold exports. sui tnere
are no indications that a new bond issue
will be resorted to by Secretary Carlisle
to build up the reserve. The impression
In treasury circles is general that the
reserve will reach as low a point as
100000 600 before such an alternative as
a bond issue will be resOrted TO. No n
nancial disturbances resulted when the
original reserve of Sl00,O0O.00 was en-
croached upon. none when the reserve
fell TO 600 Just before the last
issue. and none is apprehended now. The
falling off Of ordinary revenues Is caus-
Ing more uneasness In treasury circles
than Of the decline In the gold reserve.
Inc TeCelplS Tor lne tieNeu lloHtHo VI
the current fiscal year are SS40OO0O less
than for the eleven months OF the pre-
vious fiscal year. A saving OF N3C0)00
In expenditures over corresponding period
Of 1929 brings down the difference in
round figures to S2O0O,OOO, being the ex-
cess Of expenditures over receipts for
the eleven months Of this year.
THE FALLING OFF IN CUSTOMS.
The greatest falling off is shown in
customs. which have declined N0O0,Oe0.
Internal revenue also fell off Ni0OO,OO.
The greatest retrenchment OF expenditures
Is shown in pensions, a saving Of N1,-
10000 having been effected In this Item.
Civil and miscellaneous expenditures
show n decrease OF 100000.
The stated Treasury balance to-day IS
S1170OO.OoO; on January i, 1894, IT was
500, 10000. on January, however the
Treasury was reduced 10 n working cur
rency balance Of only 100000, the rest
being gold. and to-day the Treasury has
a working currency balance of Si2O0O,0OO.
The Treasury situation, therefore, is con-
sidered more favorable now. even with
less gold than 1t held In January, than
at the beginning OF the calendar year, as
its currency balance is four times greater
than it then was.