The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1894-06-27
TO ISSUE MORE BONDS.

TO ISSUE MORE BONDS.
The Government viii Need Ready Cash
Before Long.
WASHINGTON, June est is now sug
gested that the subject of short term
loan in anticipation of the revenues OF
the government may be revived In con-
nection with the final enactment of the
new tariff bill. The bill, as it stands,
is estimated to provide an annual sur
plus of more than $50 100000 after 1t
is in full operation, but there will be an
interval of six or eight months before
this revenue will be fully available.
The income tax is to be collected on
incomes earned during the year ending
Jan. 1, 1895, and the preparations for
its collection can hardly begin until
next year. The sugar duty, If the SEN
ate schedule prevails, will not take ef-
feet until Jan. /. The market will be
thoroughly stocked in the meantime
and importations will be small for sew
eral months after the article becomes
dutiable The increase in the whisky
tax even will not begin to yield an In
creased revenue for some months, for
it does not take effect until two months
after the enactment of the new bill and
heavy Withdrawals from bond atthe old
rate during this period will reduce pay
ments during the several months which
follow to the minimum. Imports of ar
ticles on which the duties have been
reduced are expected to show some In
crease, but calculations of the revenue
from the new bill have been constantly
made on the imports of 1898, which
showed the heaviest import trade of
our commercial history.
The estimated revenue from customs
under the senate bill is $l3O, 1877: l13 for
an entire year, and half of this would
yield in six months $65, Os3 $50. An in
crease of 10 per cent for the year, all
crowded into the first six months, would
add $l3,OOO,OOO to this and raise the
total customs receipts from July to jan
uary to SIS, 100000. Internal revenue
at the average rate under existing law
would add $72 1000, 900, and miscellane-
Gus receipts about 50 900 900, making
total revenue for six months of $780,
600. 900. The expenditures during the
six months ending Dec. 81 last were
over $3.50, 900. 900. There will be some
saving on pensions, but the net expen-
ditures, exclusive of the postal service,
which pays for itself, will probably
reach sls3, 900 900. This will leave a
deficit of 1924. 600, 900. The general treas
ury balance now stands at about $115,-
OOO, 900 and is likely to drop below $780,
600, 900 after the payment Of the July
interest. The treasury might worry
along with further loss of 100000
If the receipts from the sugar duty and
the income tax were to become availa-
BILE promptly on Jan. /, but this will not
be the case, and some provision for
revenue will have to be made.
The treasury officials are disposed to
favor an issue of treasury bills or GER
ttHcates bearing interest at or per
cent per annum and redeem BILE at the
pleasure of the government six months
from the date of issue. 1t is believed
that these would Re readily taken in
payment of many obligations and would
be eagerly sought by the holders of idle
money, like the national banks, as a
temporary Investment. Secretary Car
Isle has always been IN favor of author
ity to receive obligations of this sort
and the plan was favorably considered
by Chairman Wilson, Bourke Cochran
and other members of the ways and
means committee when the deficit was
growing last November. The pressure
of time upon the committee, however,
and the desire 10 devote their energies
to the tariff bill prevented any formal
action on the subject until Secretary
Carlisle was obliged to act under exist
ing laws and invite offers for per cent
bonds.