Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1895-02-08
MONEY MELTs AWAY.
UNIFIED rAresrREAsuRv,s Al.
MOST EMPTY.
Government Finance. in a Worse Con.
dition than at Any Time Since the
War Little Prospect of Relief
Through Congressional Action.
Cold Flows Out.
Washington correspondence;

"HE condition of the
United States treas
- \ ury on Saturday MORN
n ] s 8 J J J ! ] ] 8 j ] 3: / ! ! !; ! ! ! ! !
Ef, ing was worse than
@H 1t has been at any
@N7T~ time since the close
SMiiH..H&> of the war. If the
EHl4sls@ Government were a
.&yEyE~ national bank til
0lTl A& Comptroller of the
Currency would
80 9.gm e.; :: !; . : i s.; MS; s; : ;:; i 4; &: !;
~ISnS@mnTn =" or corporation it
I'M 8; q Pn1B!'l;;$:: H.; I'LL: az ); i: : = :s; {; :
: !" have the entire pro-
ceeds from the sale of bonds last Novem-
Der been exhausted, and the reserve fund
depleted way below the danger line, but
the gold coin in the treasury has been re-
duced to about ST., ,O0O, and the diff
erence between that amount and the to-
TIL of gold is represented by bullion
bricks of uncoined metal. When the first
bond issue was ordered last January
there vas $65, G5O.175 in gold in the
vaults. In November, when the Presi-
dent issued the second loan, it had again
dropped to $57, 6677, 100. Friday the re-
serve fund was officially stated to be
$5S,92i, 600.
1t has taken just about q year to ex-
haust the $116,OO0,00O of gold .hat has
been borrowed by the Government to
meet the difference between its revenues
and expenditures, leaving the treasury in
n worse condition than it was before, be-
cause the annual interest charge has been
increased indefinitely at the rate of
S5,SOO,OOO. OF the $116,OOO,OO0 in gold
that was brought into the treasury by the
sale of bonds it is estimated that $76,OO0,-
UOO has been shipped to Europe and $780,
100000 concealed in the vaults of banks
IL trust companies, the tin boxes of
Spectators and timid people and the
stockings of misers, who expect to see
gold Mt II premium soon. There has been
4 deficit of $44,5 100000 in the public rev.
enues during the five months past, and
even the most %sanguine student of finan-
cial affairs will not venture n prediction
That this condition will soon improve. In
The meantime the gold in the Bank of
England has increased from $1:36, 100000
on Jan. 25, 1894, to $176, 79O,OO on Jan.
%, 1895, and in the Bank of Frnnce from
f34O, 100000 to $421, 100000.
Senator Aldrich believes that a bill au-
thorizing the issue of treasury certifi-
Gates or eXchequer bills from time to
time in order to cover temporary deficien-
ries in the revenue can be carried through
the Senate as a separate measure, but
other members believe that action will
finally be taken by means of amendments
attached in the Senate to the sundry civil
appropriation bill. A provision for q, bond
issue at n lower rate and for IL shorter
term than under existing law might possi-
bly, be carried as part of an appropriation
bill, although some of the Republican
Senators doubt whether such u PROPOSE
ton could receive a majority in both
houses or would be allowed by the silver
men to pass the Senate.
Expect Il Sensation.
"A sensation is expected when the How
gate case comes to trial. Capt. Howratn