The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-20
IF BRYAN IS CHOSEN
WHEN BE Is INAUGURATED.
Treasury Figures Tint Show the Ne
cessity OF Electing Mckinley and
Republican House.
NATIONAL BANKS ALL RIGHT
CONTROLLER ECkELs SAYS THERE
Is NO CAUSE FOR ALARM.
Tender Notes Have Increased
Suspensions in 1893.
Al to the Indlananolls journal.

Special to the Indianapolis Journal.
WASHINGTON. Sept. 19-For the first
time in several months the officials of the
Treasury Department are jubilant over the
prospect of surplus of receipts for the
month over the expenditures. The balance
sheet of the treasury for the first half of
the current month of September shows that
the deficit for this month is only about
100000 This deficit the treasury will take
care to wipe out entirely by the end of
the month, that the deficit for the first
quarter of the present fiscal year Will be
something less than $25 900. The natural
result however. of the treasurys time
worn method of holding back payments to
bring about an enforced surplus viii show
itself next month, when the deficit for
that month will be anywhere between $l0,
100000 and $12 600, 900. In spite of the APP
parently healthy condition of the treasury
this month which the officials are trying
to bring about. the treasury's showing thus
far for the fiscal year has been exceed
ingly bad The deficit for the two and a
half months ended yesterday is nearly
equal to the entire deficit of the last fiscal
year This is $lO0sO000 worse than the
showing for the same period in 1895. The
receipts for the fiscal year 1896 for the ten
weeks ending Sept. II. 1895. were $50, 035, 967
and the expenditures We're $S3 l54, 14S. The
receipts for the same period this year have
been $64, 262 and the expenditures have
been $SS, COZ 144. The increase of expendi-
lures has been chiefly due to the payment
of $5,000,0e0 for the sugar bounty, declared
constitutional by the Supreme Court,
against the ruling of Controller Bowler.
The falling off in receipts has been en-
tirely in customs, which paid $50, 500, $50 for
the first ten weeks of 1896. and have paid
Gao q
of the fiscal year 1897. The internal reve-
nue. receipts advanced from $29. 707, 211 last
year to $50, S1606S this year. and they are
not likely to fall back. The general treas
ury balance is now $61.000,00O more than
year. ago and stands at S242, S54 IT'S. This $751;
100000 is all that remains of the Sill 200, 900
realized from the last bond sale The diff
ference has gone to bridge the deficit for
last year and this ana TO cover the re-
demption of some Pacific railroad bonds
The month of September showed a surplus
last year and will do so this year, but the
receipts for twelve days are already nearly
$1,000 900 less than year ago.
The first situation that will confront the
Of the Treasury will be the maintenance Of
the gold reserve. Thanks to the large
volumes OF gold that are now being i'm
ported, the treasury now holds some $1O-
OO000O or $15,000,000 more than the normal
reserve. and it is likely that before the
middle, of October that sum will be in
creased to nearly SIPS 900, 900, but no matter
what may be its figure at any given time.
the reserve is wholly at the mercy of the
In the statement that the gold reserve
stands at SIPS 600. 900 on Oct / to make il
impossible that that same reserve should
stand at only $50 900 on April l. Major
Mckinley and the Republican party hold
that when once the revenues of the gov
eminent are equal to its expenditures all
! drains on the gold reserve will cease and
that therefore the enactment of a tariff law
which will provide the necessary revenues
is the first and the only step needed to put
our treasury in a healthy condition IT is
ms intention, therefore. to summon Con-
gresS in extra session early next spring for
the purpose of enacting such revenue legis-
1ation. In the improbable event of Mr.
Bryan's election every dollar of the gold
before the free-silver candidates Inaugural
ton, and MIR. Bryan will enter the White
House confronted by condition which will
make an extra session of Congress abso-
lutely inevitable to ward off the bank
rupIcy that will be staring the Nation in
the face. Mr.. Bryan's remedy will be of
course. the enaction of free-coinage law
In view of the certainty of an extra ses-
sion of Congress the Importance of the po-
1itical complexion of the next House stands
out more prominently than ever In at
members of the House have not vet been
made, and it is therefore difficult for the
chairmen of either congressional campaign
committees to venture more than the
stcreotyped claim of victory, but both par
ties realize that not only is ii necessary to
elect a President this year, but that the
House must be carried by such an over
whelming majority that it can enact with
out any serious opposition and without any
delay the Legislation which it's party plat
form represents. Hence it is at least as
important that the House should be Re-
publican by an overwhelming majority as
1t is that Major Mckinley shall be elected
President for without strong Republican
majority Republican legislation will be inn