New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-09-18
TRElSrRY STORIES AND THE FACTS.

and all
TREASURY STORIES AND THE FACTS.
The report that another issue Of bonds Is
being arranged, In accordance with custom, Is
stoutly denied by Treasury officials The only
peope in the United States who seem to know
nothing about the operations Of the Treasury
| under this Administration are those who should
know most When The Tribune and some other
papers announced in January the completed con-
tract with the bond syndicate. some officials
furlously denied that there was any truth In II.
and I'm order TO give the President time TO set
IN his preence OF being forced into the step the
formal contract was not In fact executed until
ten days later But the Treasury people only
succeeded in giving excuse for the impression
that the President had actually made the bargain
himself with Mr.. Belmont, as was at the time
repored or with somebody else, without at all
consulting his Secretary or other officials. 80
I'm other matters 1t has appeared To be the una
yoIdable alternative 10 believe that officials were
purposely decevng or else 10 believe that the
more important steps were carefully taken WITH
out their knowledge.
Secretary Carlisle Is credited with the state
ment that there Is no need Of bond Issue be-
cause the rising revenue Is about sufficient for
all requirements Of the Government. 1t is
statement which will plague him In future. like
those based upon the doctored accounts AT the
end OF the last fiscal year. There Is no need
whatever Of any issue Of bonds, not for Mr..
CarlIsle's reason. but because the President has
absolute power TO remove the difficulty by either
OF the two methods pointed ont yesterday. But
the people are aware, il the Treasury Depart
Is hat no rpy =
cent for public expenditures. Creditors are
wronged by forced delay, the Treasury Is not
paving its debts. and yet the amount 1t IL pay
ing has exceeded its receipts, In September thus
far by 81 2233l1 and I'm two months and half
Of the quarter which should be the largest Of the
year. by $l4,337. lGj. September ought to be one
of the large months. In sixteen days ont Of
thirty It's customs receipts have been at the rate
OF Sl4 1856 600 for the MONTH against SlI2lOVOO
In September, 1892. In the same days internal
revenue has been at the rate OF ST.. 10000 FOR
the month. against Sl3736OO0 in 1892. Total
receipts have been at the rate OF 213OOoOO Tor
the month. against $31. S41, 900 in 1892. fall
Of 81, 10000 per month below the revenue OF
1872 Secretary Carlisle must know. would re-
suit In a deficit Of more than So0OOOOOo Inc
expenditures which have been thus far at the
rate Of 500, 731 900 for the quarter can be cut
down nominally, AZ they were in June. but VIII
have to be met all the same, sooner or later
IL IS reasoned, az usual that customs and In
ternal receipts will mend. But the gift OF
prophecy IS not bestowed upon the present Treas
ury Department. ut all events. Secretary Car
Isle does not know whether the imports or duu
able goods. which have been at the rate OF about
Sl1O.O 600 for this quarter. against SiooOO,OOO
last year SS5 100000 in 1893. and $1O5.OOO,OOO In
1892. will continue at the same unprecedented
rate II Is at least conceivable that the foreign
ers have been sending goods In expectation
Of a demand which will not be entirely realized.
The shortness Of the two great exportable crops,
the exports Of gold and consequent yielding In
prlccs the stoppage OF some works because FOR
elcn sales have taken away part Of their mar
ket or other events which are at least conceiv-
sble might cause considerable shrinkage In
demand for foreign goods. and consequently In
revenue The history OF his country, II Mr.. Car
Isle will examine 1t. will disclose TO him several
experiences Of that nature, following Democratic
attempts to enable the people 10 buy more for
eign goods in place OF goods made at home III
s NJ least foolish for anybody to pretend to know
that similar results may not follow In this in
stance.
Then there remains the fact that not even the
American people can afford to keep on borrow
ing every year-in two years Of Cleveland
SIG, 100000. men say. The sum actually bor-
r,wcd was much greater and, either in interest
or in principal, must be paid, but how long can
trsness stand It? The root Of the trouble at
,rcscnt is the impression that the President de-
iihorotely intends to defy the win Of the people
and defeat any measures that Congress may pro-
noso for relief. and to go on borrowing. That
IMPRESSION he will greatly strengthen il, with
nower 70 submit the case to Congress. he
insists mon making another bargain with bank
ars before Congress meets. Nor will that deep
o,od ,mnression tend TO increase confidence or
TO help the revenue.