The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-03
ANOTHER ISSUE.
Unless Congress Helps the
Administration.
Revenue Makes a Poor Showing.
Fallen Far Behind Expeditions.

WAsHINGToS, Jan. 3 --Presidcn. Glove
land. Secretary CARLISLE and the leading
Democrats of both houses who were In
strumcntn in securing The passage Of ths
iariif bill have inn ntninoi hat as soon
PAS the bill Twas fairly A. oiesation 1t would
produc' alupo rev nue 20 meet all ex.
prndlturrs OF The gorernmcnt.
Nearly al of llr provisions Of the bill
have bcon Ia operation three months. and
from Jan all ol the provisions arc now
In full force.
Instead of an incrense OF receipts from
customs and internal revenue, there has
been from hc b. ginning OF it's operations
n gradual filing off OF receipts from the
principal soarces where IL was expected
there would be u large incresse. From
the threc items which IL was expected
namely, whisky, sugar aud income tax -
would come largely Increased receipts. tho
government in the two former have
scarcely recoived any revenue whatever.
In tho treasury forecast Of probable rev.
enue Tor the next five or six months q
large amount was expected from the sugar
duty. The vast store Of that article which
was imported In advance OF the passage oil
the new law Is by no means exhausted,
and IL l. believed IL will furnish tho re
hners an abundant store for several
months yet, So that the government Is not
likely for some time yet To get very much
revenue from that source.
Very little revenue is expected during
the next six months by treasury experts
from distilled spirits, owing TO the large
amount OF Withdrawals OF whisky from
bond when the 00cent tax was still In ef.
feet.
Tho government, therefore, Is practi.
cally receiving no revenue from distilled
spirits Tho commissioner OF internal
revenue conitrms This, and remarked yes
terday that he was certain that any rev.
enuc from that source gould not reason.
ably be expocied for nearly aycar. There
was, he adiel, no present indication that
any oil the spirits put into bond under tho
new tari1 law will be Withdrawn for early
consumption. The receipts from the In.
come tax. II that shall not be declared un.
constitutional before il can go into effect,
are enlrely probiematlcal.
hat shall BE Donef
The important question, therefore, Is be-
ing agtatcd already in administration
circles as 10 what. under the circum.
sIanccs, should be done 20 increase the
revenue aud put q stop ut ms early day as
possible to the constant shrinkage of the
gold reserve. which is daily being used To
meet lao ourrens expenses OF the govern.
ment
Secretary Carlisle does not hesitate to
say thnt as things are now going 1t seems
very probable that smother sale OF bonds
will De necessary To ng,in repenish the
gold Preserve, unless congress shall enact
the desired remedial legislation No one
here. not even Secretary Carlisle, is will
Ing 10 admit hat the adop ion OF proposed
currency legislation Is likely to relieve tho
embarrassed condition OF the treasury.
Even If congress should pass the meas
ure that the SECRETARY Il sires, ho admitte
before tho banking and currency commit.
tee that IL would be several years before
the government would realize any marked
benefit from 1t.
Both the president and Secretary Gar
isle arc now of the opinion that more rev.
enuc must be provided by tho present con.
gress unless tho government Is to rely
upon repeated sales of bonds for current
expenditures. This fact has been privately
communicated Ivy these two high officials
TO some OF theis intimate political friends.
1t is not unlikcly, therefore, that Secre-
tary Carlisle may ask congress To immc-
diately furnish him With additional rev.
enuc.
Treasury officials arn convinced that tho
new taliff bill, even Ii the income tax Is
coIlectlbie, and shall prove to be effective,
will not yicld adequate revenue. The sit
uation, therefore, is becoming critical.
The attitude of the Democrats Of both
houses. that Secretary Carlisle has no
right or authority to issue bonds, and TO
use the proceeds foy the current cxpondi.
tnres OF the government. renders the sit.
untion worry embarrassing to the admins
tration.
The Public tebt.
Tho monthly statement Of the public
debt, Issued from the treasury Departments
yesterday. shows that on Dee 81, 1894 tho
public debt, loss cash in the treasury.
amounted to 500 aq3 COS, an increase for
the month of S3i8e),775
Following is rccapifulation of the debt:
interested nring debts, 1919, 1863 1870; i'm.
crease during the month, a., 025 100;
debt on which interest has ceased since
tl.sg5, 800, decrease during tho
month, SlljJ; dcbs bcaring no interest
s3S3. .2i7,3i5 Increase during the month,
sl26,7S); totnl door, ii Gil 375 979, of which
$500, l3ilOi are crrtiicates and treasury
notes, oliset by an equal amount of cash
I'm the trrnsury.
The cash in Tho trNasury IL classified as
follows; Gold. f@)fDi 3jl; silver, s5Ol,.
O3i. i5j; plper, Sl.2all75) General ac-
count. Disturbing oil nr,' bilanc,s, otc.
'l6.lW ~. lohls, ,7Sa7al es9, against
which there ar' d,nana llnbh,iics amount.
lng ~ $G.9 SO 10, lray. f.m cash balanc
of Sljh3li,5,J. ot vii ola SOD, !44, iI5 is gold
reserve.
Advlrcs receive fro the New Yors
sipb's thif Sl5Ol010 in gold
WIS with lrsNn ya't rday FOR exporl.
which, With ihe SV1am0 withIra,n last
balurllpy lcnvas tlt frIc amount of the
LII a.. .l--- -..-.ll - =.