The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-01-24
WAYS AND MEANS.
The Committee Investigating the
Government Revenues.
Assistant Secretary Of the Treasury Spauld.
ing Tells What He Knows-Expendi-
lures viii Exceed the Revenues.

| WASHINGTON, Jan. 23.-By request of the
ways and means committee, Assistant
Secretary of the Treasury Spaulding ap-
peared before that committee to-day. The
object was to secure official information as
to the revenues and expenditures of the
government as preliminary to any
POSSIBLE TARIFF LEGISLATION.
Spaulding made comparison between the
present fiscal year and the fiscal year ended
June 80, 1890, the year before the present
tariff act went irto effect He said the
total revenue receipts (estimated) for the
current fiscal year were $780,, 600, 900,
against 03,079, OOO for the fiscal
year 1890. Actual receipts were
! ST., 151, 600 for the first six months
of the current ifs al year, about 7,0O0,-
600 more than the expenditures for the cor
responding six months. The expenditures
| (estimated) for the current tical year ere
1888, 100000, or about S24, 100000 less than
the estimated receipts.
Spaulding stated postal receipts and ex-
penditures were not included IN his state
ment, but that the
DEFICIT IN THE POSTAL DEPARTMENT
was included in the expenditures so that
the surplus shown would not be affected
The secretary said it would be necessary
to take O,OOU,OO0 out OF the apparent sur
plus of $24,O0O0O0 to prov de for
the SINKING fund requirements. He
added in addition to the S24, 00C 600 appar-
ent surplus there was cash in the treasury
amounting to $139, US, 900, making total
of SlJ3, o93, 900. He included in the cash in
the treasury the gold reserve of 61UO, COO, COO
held for the redemption OF green backs
amounting to s246, OOOOO0
Bryan, of Nebraska, asked if this gold
reserve was available for government ex-
penses.
Spaulding replied he understood Score
tary Foster so considered it and in reply
to further inquiries from the Democratic
members who desired to know if Con-
gress had not recognized the gold reserve
SET ASIDE FOR SPECIAL PURPOSE,
he said there was no statute setting it
aside. There might be resolution setting
it aside inferentially.
Discussion of the gold reserves soon
the Democratic and Republican man.
bers of the committee, the former
contending the reserve fund was for
special purpose and not available for ordi-
nary purposes, while the latter asserted
the contrary, McKenna declaring thew
were always regarded as part IF the ordi-
set them aside by system of treasury
bookkeeping.
Turner, Of Georgia, asked Spaulding:
Suppose the treasury were to
GET INTO A PINCH
could the gold reserve be used?
Spaulding-Yes, sir; think so.
Mo-
to be eXtenued. Don't you consider them
current liabilities?
Spaulding No, sir. They are extended
at the option of the government, but not of
the holders.
Macedonian, chief OF the warrant d.
vision of the treasury department, in reply
to Turner said this extension was not under
the authority OF law but was treasury ar
raugement between the government and
creditors.
Turner SAID aside from the gold reserves
he understood the figures of the treasury
department showed a surplus in cash
left in the treasury of S39, 900 O0O
that included fractional silver ana extended
the bonded debt over $50, 600. TAKING
out this fractional silver and extended debt
there would not be any surplus. would
there? he suggested to Macedonian. He
replied
THERE WOULD BE LITTLE LEFT
but not very much, and to Bryan he said
the s10,00O.0t0 on account of the sinking
fund was still left out of consideration.
In reply to Springer, Macedonian said at
the close of last month the treasury de-
partment paid out upwards of 81 600 0OO on
account of sugar bounties The depart
ment, however, did not have direct ap-
preparation, and "other things" to meet
the French spoi!ation claims, for instance.
After some talk the committee ad iourned.