Los Angeles herald., 1892-01-24
DEPLETED GOLFERS.
The Treasury Surplus About
All Blown In.
Republican Mismanagement of
the Government.
An Inquiry Into the State of Uncle
Sans Exchequer.
Assistant Secretary spaulding Before
the Ways aud Means Commttte.
Hard Questions Put
to Him.
A sociated Press Dispatches.


WASHINGTON, Jan. 23.-By request OF
the ways and means committee, Assis-
tant Secretary of the Treasury Spauld-
ing appeared before the committee to-
day. The object of the inquiry was to
secure official information as to the rev.
enues and expenditures of the govern
ment as preliminary to any possible
tariff legislation. Spaulding made a
comparison between the current fiscal
year and the fiscal year ended June 80,
1890, the year before the present tariff
act went into effect. He said the total
revenue receipts (estimated) for the
current fiscal year are 1852, 900, 900,
against $4O3. 3.079, 900 for the fiscal year
OF 1890. The actual receipts were $780,
$50, 900 for the first elk months OF the
current fiscal year, about $7000,0 900
more than the expenditures for the cor
responding six months. The expendi-
lures (estimated) for the current fiscal
year are $33S. 900 900, or about $24 ,OO0,-
600 less than the esti mated receipts.
Spaulding stated that postal receipts
and expenditures are not included in
his statement, but that the deficit in
the postal department was included in
the expenditures, SO the surplus shown
was not affected. He said it would be
necessary 10 take $40 900, 900 out OF the
apparent surplus OF s24, 1000, 900 to pro-
vide for sinking fund requirements. He
added that in addition to the. (24 ,000, 900
apparent surplus, there is leash in the
treasury" amounting to $l39, ,72S 900,
making a total of $l53, 1893 600. He in
cluded in cash in the treasury the gold
serve of $l00,000,0 900 held for re-
demption of greenbacks, amounting to
$o46,0O0 900
Bryan OF Nebraska asked if this gold
reserve was available for government
expenses.
Spaulding replied that he understood
that Secretary Foster SO considered it;
aud in reply to further inquiries from
Democratic members, who desired to
know ii congress had not recognized the
gold reserves as set aside for special
purpose. he said there was no statute
setting it aside; there might be reso-
luton setting it aside inierentially.
The discussion of the gold reserve
soon resulted in a cross-tire between the
Democratic and Republican members OF
the committee, the former contending
that it was fund for special purpose,
while the latter asserted the contrary.
McKenna declared that it was always
regarded as part of the ordinary re-
sources, until Secretary Manning set it
aside by his system of treasury book
keeping.
Turner of Georgia asked Spaulding
whether, if the treasury were to get into
a pinch, could the gold reserve be used?
Spaulding-Yes, / think so.
Turner-Now some $20,000000 bends
have been extended don't you consider
them current liabilities2
Spaulding-No, sir; they were ex-
tended at the option OF the government,
but not of the holders.
MacCennan, chief of the warrant d.
vision of the treasury department, IN re-
plv to Turner said this extension was
not under authority OF law, but was a
treasury arrangement between the gov
ernment and creditors.
Turner said aside from the gold re-
serve he understood the figures OF the
treasury department showed Il surplus
of cash left in the treasury of $50, ,OO0,,
600; that included fractional silver and
the extended bonded debt Of over $780,
600 900. "Taking out this fractional
silver and the extended debt there would
not be any surplus, would there" he
suggested to MacClennan. The latter
replied that there would be little left,
but not very much. And to Bryan he
said the $4,000, 900 on account Of the
sinking fund was still left out of consid-
Grafton.
In reply to Springer, MacClennan eaid
at the close OF last month the treasury
department paid out upwards of 81 ,000,
department., however, did not have d.
rect tax appropriation and ''other
things' to meet the French spoliaton
claims, for instance. After some further
talk the committee adjourned.