The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-11-11
He Sees No other Way of Recouping
the Treasury for the Losses Caused
by the New Tariff LAW.
RECEIPTS GROWING LESS
AND HEAVY WITHDRAWALS OF
GOLD EXPECTED IN THE SPRING.
Carlisle Reported as Differing with
the President-Patronayc That
Will Go to Republicans.

WASHINGTON. Nov. 10-Thers are
strong indications that another issue OF
bonds viii be made during the coming
week. For some time past the conviction
has been growing upon the President that
an issue of another $0,0000c0 would soon be
necessary, and on his return from Buzzard's
Bay he expressed to the members Of his
Cabinet his belief that the issue could not
be long delayed, and that the sooner il was
made the better. He saw the treasury re-
ceipts constantly growing less with no i'm
mediate prospect of any favorable change.
Already the gold reserve has reached a
point of $4,o0o,O0o below the lowest point
touched previous to the last issue, with
the probabilities strongly in favor of still
further and larger Withdrawals for export
as soon as the usual spring outflow sets In.
For. the last several years the spring with
drawals for export have ranged In amount
from 600 to $50. 900, and even more,
and it was not good business judgment, in
the opinion of the President to wait until
the gold reserve in fact wiped out be-
fore measures should be taken TO replenish
1t. Secretary Carlisle, it is understood, took
a more hopeful view of the situation. He
argued that the receipts from internal reve-
nue. and customs must of necessity soon
whisky which was withdrawn from bond
just prior to the passage of the new tariff
act, to avoid the payment of the additional
20 cents per gallon, would very soon be ex-
hausted and the demands of trade would
result In largely increased revenues from
this source, ane what was true OF the in
ternai revenue was equally true Of the GUS
toms. Just before the tariff act
went into operation the withdraw
al from bond Of goods Of every
character was abnormally large. This
supply had now been exhausted or nearly
so, and 1t was the confident expectation
Of the Secretary tb It the present steady re-
vival OF trade would soon remove any ne
cessity for another issue OF bonds. Up to
this time there had been no signs of any
important Withdrawals Of gold for export,
and it was his opinion that the emergency
might be passed successfully without in
creasing the public debt. He argued, too,
that his experiences in placing. the last
issue taught him that the issue Of another
$4,000. 900 might fall far short of recouping
the gold reserve by that amount. 1t was on
easy matter to deposit le gal tenders at the
sub-treasuries and demand gold with which
to pay for the bonds. This evasion of tie
spirit Of the law authorizing The issue Of The
bonds was several times detected during
the settlements for the last issue. and he
feared it might be pracuiced again. The
President, however, after considering all
these things, preferred not 10 wait until
Congress reassembled in December, when
measures might be taken 10 obs:ruct the
issue. In his opinion, the situation de-
nanded the issue, and .here should oe no
unnecessary delay in me ma--,r. AT the
request of the President Secretary Car
Isle joined him at WooIley this afteirt Oh.
and at a late hour had not returned 20 the
city. Persons in a position 20 know be-
lieve that this issue will pe officially an
nounced before the close of the coming
week.
The cash balance in the treasury to-day
was sl04, $50, 4sS; gold reserve S6lsl5,lOl. The
receipts from all sources so far this month
amount to s6,64o,115 making the total re-
ceipts since July last. s123. .627, ,529 The dis
bursements during the ten days of the
present month amount to S1.727,0O0, and
since July to s123, ,o46 233. leaving a deficit
Of So, ,OS7 ,7S5 during the last ten days, and
Sl9 440,7 71 since July last, as compared with
Feb. l. 1894, when the last bond issue was
made. There Is an increase in the cash
balance of over S20,500.6O0 The geld reserve
has. however, decreased about $1,000, ,000