The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1895-12-04

suasiNo ara uincnt IN favor OF icsE-ahoh
radically reducing our tartW taxation,
Perhaps IL Is supposed that suticien,
revenue receipts would IN sentimental
way, Improve the situation by, inspiring
G, niidence IN our solvcncy and aiiayiHE
the fear of nccuniary exhaustion Ana
all through our struggles 10 maintain cuf
golr reserve there never has tcen any
dprioncnsion ~ To our ready ahiuty 10
pay cur way with such money AZ ", naI
ana the question whether or not our cur
rent receipts met our current Cxreuses
has never entered into the estimate o. our
sulNcncy. OF course the general receipts
Of our funds exclusive OF gold WA EN-
lirely immaierlal TO the foreign creditor
and investor. Ills draft could only br
paid in gold and his only concern WAS
our ability 10 keep ~ that Kind of
MOI cy
ON july T. 1874. more than a year ard
a half before the first bonds we've issued
40 repicush the gold =, serve there ~As
o. not sdlsngc in the treasury exclusive
or such reserve OF less than slNWN.ei1
but the gold reserve amounted 10 mnrr
than SlltW",uoo, which was tho queting
feature of the situation 1t WAS when
that fright supervened and every So -uliiy
held abroad was returned for sale aud
debts owed abroad We're pressed for way
meni. In the meantime. extensive ship
nouts of gold and other uuflVotahle
Indications caused retcssions and fright
among our people at homo. Tncrcupou
th. general state cf our funds. cXciusiv.
Of gold. hccymc also iUmateri8l 80 them
AND they drew gold FROM the treasury
rhis Is plainly shown hN the larry IN
crease In the proportion Of gold with
drawn, which was retained hy our people
as time and threatening incidents pro-
prcssod.
During the fiscal ycnr ending June 90
iN'i nearly f,',WlN" ~ gold WAS Will
drawn from thu treasury aud about $77.-
Wh."w was sent abroad. while during toe
fiscal year ending june 80 lsHI over SIN
WhpN was diaMu out. "l winch so o H.tUl
vas ~ 'upCd leaving "a large balance Of
la Iva tod for
by DOM site huHfdiuE
luasmuch as tho Withdrawal OF our gold
has resulted largely from fright, there Is
nothing apparent that win prevent i;s
continuance or recurrence win it's natti-
raj consequences except such change
ia our financial methods as will rcassuro
thr frightened and maxi th" desire for
gold less intense. 1t Is not clear how an
iurrcaS" IN revenue. unless il he in gold
anxiety is to gain gold from the govern
Wcnt stotr it rdn not, therefore, be
SAT" to rely upon increased revenues as
a. cure for Cur present troubles.
II is possible that IN" sugge stion Of In
creased revenue as remedy for the
difficulties ~" are considering may have
legation that tho bonds which have been
issued ostcnsihly to rcpleuish Our gold
reserve wer" really issuod to suppiv in
sufficient rcVtuI,. Nothing can be FUR
to- obtain gold for tho maintaiusucc oil
or National credit As has been shown
me gold thus obtained has been ,drawn
again from the treasury upon liutt,d
States and treasury untss. This ouerat iou
WoulG have hrcn promptly prevented. II
possible but these notes having thus
been PASSED tn the treasury, they became
the ron"f of the government likr any
other ordinary government funds and
iu rayins government expenses VIXEN
npoucd
At no ,lmo whom bonds have been
issued has There hcen any condition Of
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