The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-09-22
CLEVER BOOKKEEPING G..
Campaign Material Prepared
Under the Direction of
the Treasury.
BONDS AND AN EXTRA SESSION.
Both Are to Be STAYED Off If Posi-
BILE Until After the Fall
Elections.

WASHINGTON, D. c., Sept. 21.-It is
stoutiy asserted at the Treasury Depart
ment that there is in present contempla-
ton neither an issue of bonds nor an extra
session. The presence of Assistant Secre-
tary Curtis in New York is explained at
the department by an allusion to that gen.
tleman's vanity and his desire to pose in
the commercial world as factor.
Secretary Carlisle makes no effort to con-
ceal his annoyance at Mr.. Curtis propen-
sity for rushing to Wall street whenever
the condition of the treasury is discussed
in the papers. So far as information is
vouchsafed at the treasury the impression
is made that if there is bond issue at all
it will not be made until the end of next
month, and then only for small amount,
sufficient to carry the gold reserve until
Congress meets. Should the next Congress
fail to pass necessary remedial legislation
then President Cleveland will throw off all
restraint and, intent only on keeping the
gold reserve up to the normal point, will
issue bonds as often and on whatever terms
he may see fit.
The Treasury Department this month
will present an appearance of fictitious
healthfulness. The result is obtained as
usual by manipulation of figures, and is
intended purely for campaign purposes.
1t is intended that the report of the con-
dition of the treasury at the end of the
month shall show that the receipts of the
Government are at last beginning to ex-
coed exp enditures. The statement of the
condition of the treasury shows that for
the month the deficit was only 81, 876 5S3.
1t is the purpose for the balance of this
month to make the receipts of the treas
ury show daily excess over expenditures,
and to such measure will this plan be
carried out that at the end of the month
the receipts for September are to show an
excess over the expenditures of between
one and two millions and the deficit for
the fiscal year, which at the beginning of
this month was about $14, 0O0,0 900, will be
reduced to about $l2 ,000,0 900.
This jugglery With figures will serve as
campaign material. But the following
month it will be impossible to hide the
truth. During the month of October there
will be quarterly payments of interest to
be met, and these, together with expendi-
lures that no amount of cleverness may
conceal, will show an appalling result
The deficit for the month of October can
not be kept below 100000, and possibly
it will be even greater, so that the deficit
for the year up to that time will be in the
neighborhood of 500, 1000, 900. This condi.
ton of affairs Will, of course, be held back
at the treasury until after the elections,
which occur the first week in November,
when the deficits and bond issues can no
longer produce their effect on voters.
Secretary of the Interior Hoke Smith,
who has just returned from the South, is
determined in his opposition to bond
issue, at least before the coming elections.
To issue more bonds, says he, even for
single million, would undo in one stroke
all the missionary work in be half OF gold
money that has been done in months, and
would throw the South back hopelessly
into the hands of free-silver people, who
would then sweep everything before them
at the elections.