New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-03-08
CONDITION OF THE TREASURY.
DIFFERING VIEWS or THE INvEsrIoAuNG CON

DIFFERING VIEWS VI THE lNNfSIlcAltNb SVM-
MIrrEE-rNPAIR DEDUCTIONS DRAWN
Washington. March THE majority and minority
reports OF the Committee on Ways and Means on the
lnvesu CATION Into the condition OF the Treasury were
to-day completed and sent to the printer authority
for this having been obtained from the House Just
before adjournment Appended TO the majority re-
port. prepared by Representative Springer. Is copy
OF the statements sent 10 the committee BY the
Treasury Department and Of the testimony taken on
the subject.
Mr. springer, in his report says assuming that
the statements made by Secretary Foster are correct
that on June 10 next there will be estimated cash
balance OF 800 900 377 and above the legal gold
reserve. II will appear from mn examination OF Mr..
Fosters verbal statement TO the committee In ex'
PLANTATION OF this estimated balance that II Is probably
too large. The available balance will be reduced by
tho payment OF the Choctaw claims. S3.OOO.0OO IL
win also be reduced by any unestmated and ex-
traordinnry expenditures which may be Incurred ana
also by any failure Of the estimated receipts from
customs internal revenue other sources during
the time Indicated Tho majority are OF the opinion
Tint nj the close OF the present fiscal year there VIII
he an available cash balance In the Treasury aside
from the gold reserve. Of not over $l7OOOoOO.
As TO 1894 Mr.. Springer says that. according 10
the Treasnrers statement, the Secretary estimated ah
available cash balance OF e47 s52407. not taking the
500 600 900 gold into consideration, but
note mt the bottom OF the Treasures statement SHOWS
TINT this balance is chargeabe with conract Iis
already appropriated for, amounting to *%ooooooo.
II "A possble that all OF this amount VIII not % cled
for dnrng TINT fiscal year. but this Is the amount es
umnted by the Department, and the nVa'Iape caSn
balance would be reduced TO $7.sOO0o0. II also ap-
n.ars from this statement that OF the contract hsi-
RE. existing on December 81, 1892, the sum OF &c.
1s 40 vii, be called for In the year 1924 for rivers
and harbors. or this amount $l4'lo6'lo3 mas oeeh
appropriated by the sundry Civil bill for 1894 The
charge upon the Treasury for that year must also d.
augmented by whatever deficiency appropriations may
be required which. including pension dehcencies, nA'e
averaged during the last five sessions eaen
var tn this deficiency must be added the amount
NJ miscellaneous appropriations which for nve years
mast have averaged $1,000 900 each session. FROM
these estimates, however. II Is probable there may
nm some saving on estimated expenditures In the
actual appropriations. Under the most careful esti'
mates that can be made II Is apparent, says the
that ut the end OF the ensuing fiscal year there
will be a deficiency amounting to from $'oooo'ooo
N sAO 600 OOO In these calculations no account
whatever has been taken OF the requirements OF the
sinking Fund. The balance due the SINKING F"hu
in June 1892, was 81 307 s2o. the requirements 'or
aoa are estimated ut s4s 803 OO0 and at the end OF
the next fiscal year there will be due the fnnd q h'"e
over 800 900 900. The majority DO not cohceue 'na'
the Secretary OF the Treasury Is correct In charging
against the fund el6 600 900 paid for the redemption
~ National hank notes OF banks which have gone into
LIQUIDATION. It thinks such payment shoula De maze
out OF current receipts In the Treasury Ihls "ouia
make an estimated amount due the sinking Fuhd Oh
June 30. 1894. OF Slleoooooo.
In conclusion, the majority cite Secretary rosters
statement that In his opinion there Will be dehc"
At the end O: the fiscal year 1904. ana that 'he re-
ceipts Of the Government should be Increased ~
once BY $50 600 600 TO meet the Treasury eohosohs
as set forth In his report and 10 increase Tue sou
reserve fund By S25.OOO.Ooo
The minority report. which was drafted oy Hepre
sentative Payne. Of New.York and Is signed o. ."
the Republican members OF the committee. says the
conclusions from the evidence presented WIG ~e
report seem wholly unwsrranied and misleading
In fact" II continues. "thsre seems to be an u"er
lack of evidence justify any Of the criticisms OF the
majority upon the statement Of the Secretary. wn'ca
showed q surplus In the Treasury on the So'h OF
June 1884, The statements of the Secretary. sup
plemented by the evidence Of the Treasury experts
are evidently Of the most conservative character.
ne estimated receipts are placed 1t minimum wills
the estimated expenditures placed Mt maximum.
speaking OF the deduction OF the Choctaw claim
the minority say the majority are very SWIM 10
charge this % 100000 against the estimated balance
for 1905 but nowhers deduct II from the cs''ma'ed
payments for 1894 N which rear roe oeeSstasy cd