The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-08-06
MORE MONEY NEEDED
UNCLE SANS READY CASH RAPIDLY
LEAVING HIS VAULTS.
Unless Passage of the Tariff Bill In
creases Receipts Another Issue OF
Bonds May BE Necessary.

WASHINGTON, Aug. 5.-There are
differences of opinion among treasury Off
cials as to the probabilities of another
bond issue. Neither Mr.. Carlisle nor AS
sistant Secretary Curtis is willing to adj
nit that there is any real cause for alarm
in the present financial situation. 1t is
known. however. that the President and
his advisers are watching with eager in
terest every change in the financial situa-
ton. and that every phase of it is being
carefully and thoughtfully studied. Not
withstandng this solicitude, it is believed
that it is the judgment of the President
that the situation does not furnish any
just apprehension, and that better times
confidently may be expected soon. From
this point of view it is argued that the
passage of the pending tariff bill is sure
to result in prompt and general revival
of business. and that in consequence there
will be a large increase in the govern
ment revenues. Receipts from customs,
which for many months past have been
gradually growing less, it is believed will
show a marked Improvement from the
very first and will continue to increase
until normal conditions have been reached.
1t is contended that Notwithstanding the
fact that the gold reserve has reached
the low-water mark of about s52 O00,0 600 the
government is really far better able TO
meet it's obligations to-day than it was
Just prior to the February bond issue.
There are some, however, who take a
less hopeful view of affairs. They OBJ
serve that the gold reserve, which six
months ago was brought up to its normal
condition by an increase of $50, 900 in
the public debt, is again melting away and
already reduced TO point Sl3,OO0,OO below
the lowest point reached prior to the
February bond issue. They contemplate
with uneasiness the fact that for a year
government have largely exceeded the re-
ceiDts. This was true even during last
month, when, in expectation of a ma
terial increase in the tax on whisky, the
receipts from internal revenue were alb
normally large 1t is argued that should
the pending tariff bill become a law and
middle of the present month no material
increase in the revenue could reasonably
for the reason that the tariff bill will
have passed too late in the season TO
realize any considerable amount from the
show that there is now in this country at
least six months supply of sugar so
that little may be expected from that
source. This also is true of whisky. The
statistics of the Internal Revenue Bureau
show that the tax m already has been
in excess of the amount upon which the
tax had been paid one year ago. There
fore but little relief may be expected
from this source before December. The
will be to a bond issue, and there are
many well-informed persons who believe
hibitive resolution before adjournment,
$50,O00,000 or more will soon be issued.
That there would be no difficulty in
the premium eXacted in February seems
apparent from the fact that the February
bonds are being sold at premium of LII