Evening star., 1896-09-21
TREASURY FINANCES
Far From Favorable, Even in Com
parison With Last Year.
RECEIPTS BELOWWHAT THEYSHOULD Be
Expenditures Stand 100000
Higher Than a Year Ago.
HOPE IN SILVER'S DEFEAT

HOPE IN SILVER'S DEFEAT
The treasury statements continue to be
far from favorable. even in comparison
with the moderate showing of last year.
The receipts for the first twenty days of
September have been only $16,656,3
against receipts in the same days Of Sep
tember 1895, of SIS, ,3S0, ,517. There is fall
ing off for the present month in both Gus
toms and internal revenue, but the loss i'm
customs is far the heavier. The fact that
internal revenue holds its ground is due to
the exhaustion of the supplies of whisky
withdrawn from bond before the tariff leg
isation of 1894, rather than to a real in
crease in consumption. The internal rev.
enue receipts are still below what they
would be under normal tdsinesS conditions.
The figures since the bei nning of the fiscal
year. on July l. ar: still .ess favorable than
those for September The total receipts
this year have been 81 247, ,6l9, against a
total for the same period of last year of
$40, ,402,912. The customs receipts this year
have been 32,250,0 055, against similar re-
ceipts last year of $50, 800 This shrink
age of nearly 20 per cent would be repro
duced, probably, in the internal revenue
figures, except for the reason above stated.
The internal revenue receipts were $685.
SIS, 1874 for the eleven weeks ending Satur
day, against sS3, ,096, ,3O2 for the correspond
ing weeks of last year. The miscellaneous
receipts this year are s., 109S Their eX-
cess of $1,4O0,O00 above the amount of
S., 735, 10S attained last year is due in the
main to several large deposits of seignior-
age on the increased coinage of standard
silver dollars
Expenditures Running Higher.
While receipts have thus fallen at an
of rlx holt
week, expenditures stand more than 3,O0O,-
COO higher than last year. The total from
July to September 20 this year has been
94GS1,1A against total last year of
$91 303.34S. This increase Is accounted for
by the payment of about $o,oo0.eO0 for the
sugar bounty. The expenditures for PEN
sons in September have thus far been
about 81 100000 less than last year at the
same date, but the amount required before
the end Of the month will be substantially
the same. Allowance for the sugar bounty
would still leave the ordinary expenditures
not far from the figures of last year, but
the delayed payment for pensions must be
added to the deficit to show the real condl-
ton Of the treasury today. The statement
Of the deficit for this year is $25, 43,5,J24
against $14,9sO 1876 at the same date last
year This increase of sSj00,Oo0 would be
swelled to nearly $11.O0O.o0O by making al
lowance for the pension payments The
gross receipts for September at the present
rate will not reach $25000OOO. The total
last year was ST ,549,6IS There was sur
plus in that month of s3.175,040, and there
will probably be surplus this month OF
about 100000. This surplus will not be an
indication that the treasury is upon self
supporting basis because September Is al
ways n month of small expenditures for in
terest and the ordinary departmental ser
vice. Receipts of $25.0O0,0O are at least
| s. COO 600 per month below self-supporting
average, and would indicate a deficit of
| $50, 100000 at the end of the year.
Hone of Secretary CnrIisle's Advisers.
The hope of the advisers of Secretary
Carlisle is that there will be revival or
business activity and of government re-
ceipts if free silver receives crushing de-
| feat at the polls in November. The in
| crease in receipts will come mainly through
| the customs, and judges of trade condi-
tions say that it will not be very acutely
| felt until January or February, when goods
for the spring season begin to come in.
| The present administration will probably
| come to an end with deficit of S20,OOo,oO
| to $;O,O00,OOO for the first eight months OF
| the fiscal year. The change OF trade con-
diticns will then enable the new admins
tration to claim the credit of increased re-
| ceipts and the reduction of the deficit dur
| ing the remaining four months of the yTar.
This increase in receipts will hardly come
| early enough to obviate the necessity for
| new legislation, .and may not come early
| enough to prevent another bond issue by
| the new administration The present state
| of the gold reserve, with nearly S119,o0,-
600 in sight and much more gold on the
| ocean CT in New York which is likely to
reach the treasury, justifies the belief that
| the reserve will stand above $lOOWO,O03 on
| March next, If the country votes to ad-
lere to the gold standard. January and
| February are usually months Of gold ex-
| ports, however, and may leave the reserve
| where 1t will require action by the new ad-
miristraticn to keep 1t intact.
The increase in the national bank note
circulation continues to be one of the fac
tors which affect the circulating medium.
The new notes issued last week were ST.
579,75O, and the notes Cancelled and de-
stroyed were only s666, ,997. This leaves the
net circulation outstanding at s232, ,3s9, ,296
The figures a week ago were S231, ,525, ,563,
and on August 81 s229, ,526.449. There has
thus been an increase of nearly S3,UDO,U0I
during September, and new notes are still
being issued upon recent deposits of bonds
The increase in circulation during August
was s., 5S3,9S4 and the increase during Sep
tember will apparently be about the same
amount. Most of the bonds deposited to
secure circulation belong to the new issue
| of 4 per cents, but a few are the : pei
| cents of 1894, the old per cents and the
continued per cents. The net circulation
| is now larger than at any time since Janu-
ary, 1889, when it was s233, ,660,027 on the
| 1st of the month, and fell to $229, ,269, ,029 or
| February l. The circulation of the nationa
banks is $5S.0oO,O0U larger than on January
l, 1S.B $24,O00OO0 larger than on January
l, 1894, s26.O00,000 larger than on the same
date in 1895, and $19.GO0,0O0 larger than or
the same date in 1896. The fact that al
classes of bonds are being employed to in.
crease circulation, and that this materia
increase has not prevented heavy importa
tions of gold, is regarded as indicating the
force of the pressure for currency caused
by boarding and by the movement of the
crops.
CAPT. McDONALD'S CAMPAIGN.