The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1893-12-21
THE NATIONS FINANCES
REPORT OF THE SECRETARY OF
THE TREASURY
--
Secretary 0urlisle Earnestly Suggests
That our Entire Financial sys-
tenn Should Be Romodelod,
HOW THB DEFICIENCY IS TO BE
MET
-
The Whisky Tax 20 Be Increased Ten Cents
and Tax Suggested on Cigarettes,
Cosmetics and Perfumery.

Cosmetics ana ferlnmery'
Washington, December 20, The annual
report OF Secretary Carlisle was sent
TO congress today, the secretary says;
During the lirst five months OF the
present fiscal year, the expenditures eX-
cccded the receipts by S29,MsO95.66. There
has been not only a decrease of receipts
but also an increase OF expenditures. The
result OF these changes on the first day
OF December was that the actual net
balance in the treasury deducting the
bank note redemption fund, outstanding
drafts, etc. disbursng officers balances,
agency accounts ana gold reserve. was
only Yu, egS, liS.g5.
The secretary says II may be safely
assumed that the worst effects OF the
recent financial disturbances and con-
segment business depression have been
realized and the condition Will be much
more favorable hereafter for collection OF
government, but II can scarcely be eNs
pected ;hat receipts for the rernninedr OF
the year VIII exceed the expenditures Tor
the same time TO such an extent hs 20
prevent u very considerable deficiency.
He therefore estimates the probable de-
iiciency at S2Suu0,O0l att the close OF TIE
year and recommends the act for tho
resumption of specie payments approved
tiuNtpii1t WV
issue and sell Mt not less than par IN COIL
bonds 20 an amount not exceeding SzVp..
Cp9O9 bearing r2Met , ra'e ~ or nm han
those now provided for and that he be
permitted to use from timo 10 time huoH
10 supply any deficiencies IN the public
revenue TINT may occur during the hscnl
year 1870 80, -.
space 70 a detailed 81 Ven Of the laws
OF lSn and 1870 in tue liBht OF lhe pres
ent needs and goes on 40 slS ~ 90 modi-
fcd IA to empower the secretary 10 issue
ponds In denominations Of SOW anu NUT
tiples they could be readily diSp9seu VI
without the agency OF financial institute
lions and without the payment OF com
missions" IL aa,,,o
nj large mems to convert their surplus
earnings into n form OF security WhiSh'
while perfectly safe. would hot OILY -.
crease In value 10y reason OF occhnlulb,
ing interest. but be at all times aNtlllplo
ms means OF procuring money wlen nsSu-
ed. In case congress Hhau,h not conalusr
II advisable TO authorize the secretary 70
use for the purpose cf supnlylng denorn-
cics in the revenues any part OF me pru-
cceds of the bonds herein augBeBteu' ne
recommends that he be empowered 10 eN-
ecute as mny he necessary Obligations OF
the government not exceeding IN the aR-
greElte S5O, 900 600, bearing rate OF interest
not greater than per cent payable after
one year from date and that he be pri
mittod TO sel them at not less than par or
OF public expenses to such creditors ms
may he willing to receive them. He GAYS
the condition Of the treasury Is such that
unless some available mcars be promptly
nrovided the public service viii be serious
Is impaired and pensioners and other cred-
itors subjected to great delay and neon
The necessity Of IN extension Of the
power Of the secretary to procure ana
maintain n larger reserve for the redemp-
tion at United states currency must the
snrrotgrv ibip;,a he evident to nvcrv ON,
al this date
,r,,a o,,i,, Form, az ,,,,,.,,,,. ,,.,.,,, ,ot.
,stt;Gcots tirt, tb t,,,,i,,,, ~"
cl,trcd or 1ptbnri1od Ia, ia,,. -, ,.sl,n,,, H.
coin on preqentaliop. ,yaa fro old legal
o,d II M, ,iI,S ~ NV t 70 ~
NJ ir,ee,,r,, ti,af ~, ST, ,.., einn
nOOO0O would constit,ite n euffIcicnf basio
fot. Tho rnointpnonce ~ c,i,,T,,,,. ~ AK,
but under tbe nct az I,Iv "a 100 ag5j,
typ, t,,, ~ az, W 1uly if, leg' hur-
toi IN s,I oo n9 6,e Were Issued 70 me
a., ~ Ia ~ 'nm 49,. ~, "Y NV 10 Veuegn
Gums ts,coel a. "a ~, Nj t nuul t'Is2e ~
not only that he be clothed win nm a1-
thnritv tn n,,o~ure o,J ,,.i,..ti th lull ou-
/, ~ ~ ~ Ptv'uir dilu Iihhialh an am
wbicb Tx rager,c Il ~ ~ elh pur ls,3 lar
h,ilNrii " iN6yINt - 70 pr ilelu ana uFed
ssl nvu'q ~ mute ~ n9mpfehensiNo rs the
tatc,, gPV,i t nillt ny INV, ire eS@
te,Si ~ % SUI HyiHpIlty N constantly
:, y tl5tols l9Iln WVulu ~ user inspire snch
All. , ~ w seruiltS ana STABILITY of
niiel1t nevnr beoo3,,a nctuni sNefcise
rt,4tif... ~ AlN'N0.,'iNt Dul wv
,utl,Iilty ~ declaring q specific policy and
l y, y. uiulils tne means which may be-
,,,.,' i,.Vsssliiy Tor rs execution IS TOO
= 'fl, W, i...i,. 70 r'qulte comment
a ,,'si 81, ne sag5' on account OF appre-
lvi,fi"ns ~ % me a9llity OF the govern
ten ~ tIner me ie6islaion then cxisting
~ commute the current redemption Of ne
loles m com ana maintain the parity Of
~ I'VE ngtais there occurred last SUM
ta,.,, g2 .,io shlp'deRi5 Of which the seere
my my giyes detailed ii history. and then
',lyr Hs lphg AZ inc government continues
me unwise policy or keeping its own notes
OUTSTANDING % circulate aa currency ANA
Undertakes 10 provide for their redcnp-
ION IN CON on precipitation, f. VIII be |
y ny opinion. essenuhi for the aecre, arY
" the treasury 10 possess the means or |
ave me clear and undoubtod authority |
10 secure the means which may from !
I'm 70 meet such an emergency ms the |
me which recently OCCURRED IN our nnan- |
'iai eifairA
The secretary then at great length de- !
ais The Inconvenience and worse suf- |
cred by the treasury department In main |
aiming q currency parity and argues thni |
he whole financial system OF The United |
states be tloroughly. oYerhaulcd ard pre- |