The Brandon news. (Brandon, Miss.) 1892-1961, 1903-08-27
TREND OF EVENTS
AT WASHINGTON.
ranana Levys Tax to Defray Expenses
OF War Against Yellow Fever.
lO AID NATIONAL BANKS
treasury Department Has More Money
On hand Than is Necessary to Meet
current Governmental Obligations.
rali Trade to Reap Benefits.


able in the United States treasury the
sum of $50, 600, 600, which is not need
ed to meet current obligations of the
government. and which may, there
fore, if found necessary, be deposited
with national banks throughout the
country for the purpose of meeting
the heavy demads of the fall trade.
What is known as the available cash
balance in the treasury now stands at
nearly 1892, 100000 but of this
amount. about $156, OOO,0 900 is either
already on deposit in national banks
or is deposited to the credit of dis
bursing officers in the Philippine
Islands. There is an unwritten law in
the treasury that the government
should always have on hand at least
$50, 000,0 900 in the form of a free
working balance-that is, that the
available cash balance, less the funds
deposited in national banks, should
constantly reach that amount. This is
for the purpose of meeting any emer-
gency that may arise. The present
secretary of the treasury, however, is
inclined to believe that in times Of
great prosperity like the present,
when there are apparently no crooks
ahead" a working balance of $780,
100000 is quite large enough to fulfill
all conditions of prudence. The vail
able cash balance in the treasury at
this time is about $40, 900, 600. If $780,
100000 be deemed a sufficient work.
ing balance, it is possible, therefore !,
to increase the present deposits in the
national banks by about $50, 900, 600.
For aeveral months imme diately fol-
lowing tho ratification of the Panama
canal treaty by the United States SEN
ate, Secretary Shaw watched the treas
ury balance with keen interest in the
expectation that the government would
soon be called upon to pay over to the
New Panama Canal Company of
France the sum of $40, 900, 600, ana to
the government of Colombia some
thing more than $40, 100000 The
Colombian congress has not yet rati-
fed the treaty, and the whole matter
is in a state of uncertainty. There is
little probability that the payment, if
made at all, will be required for many
months to come, In the meantime the
crop-moving season is approaching,
and although there are as yet no signs
of a serious money stringency, Secre-
tary Shaw will watch the situation
with interest, and there will be no sur
prise in the treasury department if he
decides within the next six weeks to
Increase the Federal deposits in the
national banks.
Panama is unable to bear the ex.
pense of waging war against yellow
fever at Colon and Panama, and has
announced tax on shipping to pay
the cost of quarantine. The United
States Consul at Colon has sent the
State Department copy of the decree
of the Governme mt of Panama, which
is as follows: Article I. Says there
is temporarily established tax of 100
pesos, Colombian silver, on every
steamer or sailing vessel of more than
LOCO tons burden arriving at the
ports of Panama or Colon. which sum
will be paid to the respective treasury
offices by the agents of the companies
to which the vessels belong. Art. II.
1t is provided that the Provincial Ad-
ministrator of the Treasury at Colon
will monthly turn over to the General
Administrator of the Treasury Depart
ment the aggregate amount received
by him. Art. III. Provides that
there shall be kept at the Office of the
General Administrator of the Treasury
of the Department, in separate books,
on account of the proceeds of the tax
and of that imposed by Decree No. rs
of this year. and of the expenses
occasioned by the service of the float
ing lazaretto, SO that report thereof
may be made to the supreme Govern
ment.
The land frauds in Louisiana and
Mississippi have not been lost sight OF