Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1893-12-29
CARLI5LE's ANNUAL REPORT.


9 ome Important Recommendations by the
Secretary of the Treasury.
WASHINGTON, Dec. 20.-The annual re-
port of Secretary of the Treasury Carlisle
was sent to congress today. 1t shows
that during the first five months OF the
present fiscal year the expenditures OF
the government exceeded the receipts
$29 ,9I8,095. The secretary assumes that
the worst effects of the recent financial
and business depression are
past, and that the remainder OF the year
will show better results, and he estimates
the deficiency at the close OF the year at
1928 ,0OO, 900.
AN ISSUE OF BONDS.
To meet this he recommends an
amendment Of the specie payments re-
sumption act of 1875 to authorize him to
sell three per cent bonds not exceeding
5000, 900 600 in amount. at not less than
par, saying, however, that in his opinion
only the great pressing financial emer-
gencies justify such q course. He sug-
gests that the bonds be issued in
denominations of $25 and multiplies
thereof, to be sold through the sub-treas-
uries and postoffices.
In case congress should decline to fol-
low this course, he recommends that the
secretary be empowered to execute obli
cations OF the government, not to exceed
500, 600 900, bearing three per cent, to be
sold or circu ated in payment OF govern
ment obligations. He points ont the
necessity Of the extension Of the power
of the secretary to maintain large re-
serve for the redemption of United
States currency. The secretary adds:
$50 long az the government continues
the unwise policy of keeping its own notes
outstanding to circulate as currency and
undertakes to provide for their redemp-
ton in coin at presentation, it will be, in
my opinion, essential for the secretary to
possess means to meet such emergencies
as the one which recently occurred in our
financial affairs"
INCREASE OF BANK RESERVES.
He says the repeal OF the silver pur-
chase act makes such a radical change
in the currency policy of the government
that until it's effect is more fully devel-
oped he does not wish to recommend
further specific legislation on that sub
ject. He says the great increase in bank
reserves in the monetary centers of the
country show conclusively that the
amount Of money in the country is
greater than is required for the transac
ton of business. He fnds that one Of
the principal difficulties of the treasury
results from the iDdisposition of the pub.
lie to retain silver dollars and silver GER
tifcates in circulation, and has sought to
remedy it by increasing silver certificates
of denominations less than ten dollars
retiring larger ones, aud substituting for
them large notes of other kinds of cur
rency.
THE TARIFF LAWS.
The report then deals at length with
the tariff laws. He argues in favor OF ad
valorem duties. He also urges strongly
the desirabiity OF free raw materials
He recommends an increase OF ten cents
per gallon on distilled spirits, additional
taxes on cigars and cigarettes. and new
taxes on playing cards, cosmetics, per
fumeries, legacies, SUGGESTIONS, incomes
from stocks and bonds of corporations and
joint stock companies.
THE CHINESE QUESTION.
The secretary says much difficulty il
experienced by officers charged with the
duty OF assisting in the enforcement o.
the Chinese exclusion laws by reason o.
certain practices resorted to by the Chi
nese coolies. | am Of the opinion thai
80 long as our laws prohibit the land
ing OF Chinese laborers, the privilege o
passing through cur territory cannot be
safely granted and should at once bt
revoked. If this privilege is continued
it will be impossible to secure the eff
cient execution of the laws passed by
congress for the exclusion of Chimes
laborers.
PACIFIC RAILWAYS.
On the subject of Pacific railways thu
secretary says there is now outstanding
$64, 723 512 six per cent United State.
bonds issued in aid of 1.-The Pacific rail
roads. Congress shonld take action a
this session with respect to the paymen
of at least 81 1862 900, which will mature
within the fiscal year of 1894. Som,
plan should be adopted which will Sc
cure the ultimate payment of the indebt
edness to the government and at tn,
same time permit the companies to con
duct the business under such limitation
and restrictions as are necessary to pro
tect the rights OF all parties interested
in the property. 1t would be very un
fortunate if the government should b.
forced to operate these lines OF railway
THE HAWAIIAN RESOLUTIONS.
Referred to tho Committee on Rules Al
ter . Hot Struggle.
WASHINGTON, Dec. 20.-Republicsn