Press enter after choosing selection

Huge Treasury Deficit

Huge Treasury Deficit image
Parent Issue
Day
31
Month
May
Year
1894
Copyright
Public Domain
OCR Text

Washington: The present depleted condition of the treasury and the discouraging outlook f or the future are a source of considerable anxiety to the officials of the treasury department. Already the gold reserve, which had been brought up by the last bond issue to 8107,390,848, has been redueed by exportations since March 10 to less than $80,000,000, with no indications that the foreign demand will cease until it has reached a much lower point. With the exception of the gold reserve, and counting every available dollar in the vaults in the treasury, the government has less than 880,000,000 with which to meet its obligations. Nor does the future show any signs of encouragement. On the contrary, the probable deficit of 86,000,000 for the month of May is likely to be increased by $15,000,000 during the two succeeding months. The closest calculation that can now be made shows that the deficit for the fiscal year ending June 30 will be approximately $74, 500.000.

Article

Subjects
Old News
Ann Arbor Register