Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-03-08
Secretary Carlisle Takes Charge
Of Ills ClCo.
AnARD PROBLEM BEFORE HIN.
Reports Of The COMMITTEE OF Ways
and EsllS Completed.
rnr ,iNlN,,,L CONDITION
The Now Secretary Thought to b,
Fully tbir 80 Meet the iic.
quir'mrnta.

WAsIiNuToS, ID. c.. Mtrch -
Secretary Uithc Treasury Carlisle took
possession OF his Office ,hi morning
ufcr thu usual c3ur,usius between him
and Secretary Foster. When lac as.
aumtd charge thetro1ury had ON hand
.L2jO,0J1 Ga free gold aud IA ne, bal.
aucu u $50 5lO,OJy, OF whieh 1000.
eco was iu national bank repositories
and slIOllOII ia 8ubndlnry coin and
.51OOJO IN minor coius.
Secretary Charles Fostor said this
evening That tho lioAsury was down TO
bedrock when turned over to the new
secretary toby. Mr.. Carlisle finds
himsclI confronted with great re.
sponsibilily o maiu,ain the gold basis,
and man Of less ability might hnd
the task a very difficult one. 1t Is
probable that before lac has been two
days ia Office hy viii lind it necessary
to ch3Osc between issuing bonds W
trenchinR upon tue gold reserve.
The ux.suctUtnry said the dcpart-
munt now practically had no gold
reserve, there being lees than two mil.
llou In Tree gold. lie did not regard
the situation as alarming, however, as
all the excitement about gold ship.
mcnts appeared 10 have subsidized. IL
was, he said, a better condition than
no expected 10 find NJ this time, ami
y diu not look as alarming Us II did a
week or more ago.
When asked II he dil not think
bonds would have TO be issued, he 70.
piled that Carlisle might instead OF
that use some OF the reserve. He said
Carlisle undoubtedly had "a night TO
usu part VI the gold reserve II he needed
to no 20. Besides the gold reserve,
Mr.. Foster said, he woulu turn over 10
the new secretary about $4,000, 900,
consisting Of the National bank reserve
and subsidiary coins anu the disburs-
ing officers balances. Against this
are all the outstanding drafts covering
most Of II, but not liable TO 10 pre-.
scented for payment nj once.
"C0ngrrns," he eaii, "should have
increased toe whisky tax 90 cents anu
given us II chance to fepleDish our
stock Of money. The fact Is" he
added, "the demand for gold Is por.
tectly regular. IL ID not speculative.
IL is thv natural demand OF foreign
countries needing gold. The only
thing Artificial or speculative In the
situation was the eillrl made 90 Keep
gold here. That, of course, was to
Keep this market steady aud nut to
meet business demands. However,
there ID nearly 5000, O0O,O0O Ia gold Ia
the country, the public mind IL com.
paIatlvCly easy anu | have no doubt
that Carlisle will be able TO put him.
self In "a position to meet all demands
Tor gold"
Tho majority and minority reports OF
the committee ON ways anu means on
the investigation Of the
CONDITION OF TIE TREASURY
have been prepared and sent to the
printer. Mr. Springer, who prepared
the majority report, says that assun-
ing the statements made by Secretary
Foster to DO correct, ON the 80th OF
June next there VIII be- an estimated
cash balance OF $4,000, 377 over and
above the gold reserve. This estimated
balance IL probably too large. The
available balance viii be- reduced by
the payment OF the CnOctaw claims
5000, 900; also by the uHestimated OK.
penditures and by any failure In the
estimated receipts during the time la.
licatcd. The majority are OF the
opinion that at the close Of the pre- Ont
fiscal year there will be an available
4. t..N Ns.
lr m the gold reserve II over .lTOOO,.
900.
Alter 1894 Mr.. Springer says the
secretary has estimated the available
cabh balance al si6s57, 402, but u note
at the bottom OF tue treasurer's state
ment shows that this balance Is charge.
able with contract liabilities slready
appropriated for, amounting to O,O0O,-
900. IL IL impossible that all the
amount will he called for during that
fiscal year, but this Ia the amount az
estimated by the department under the
most careful estimates that can now
be made. IL Is apparent, eays the
report, that at the end OF the ensuing
fiscal year there will be "a deficiency
amounting u from S3J,O1O,0 900 to siO,.
100000.
Ia these calculations no account
whatever Ia taken Of the sinking iund.
The balance due the sinking iund In
1892 was Sll iOIS.5. The require.
menis Tor 1893 are estimated at siS,.
G03, coo, aul at the end Of the next
fiscal year will b. due 10 the lunu u
little OvurSl, 100000.
In conclusion, tue majority cites
Secretary FOsttTa statement that, IN
his opinion, there would he II deficit at
the Ont OF the fiscal year 1884, and the
receipts OF the government should be
Increased Mt once by s50,000,00O to
meet the treasury condition as set forth
In his report anu nn increase IN the gold
reserve fund by S25, UJO,OJJ.
THE MINORlTY REPORT
was drafted by Representative Payne
OF New York, and was slgned by all
the Republican members OF the com.
mlttee.
II says the conclusions OF the
majority, from tho evidence presented,
arc wholly unwArranted ana mislead.
ing. sin act, there seems 10 10 an
utter lnck OF evidence to Justify any OF
the criticisms Of tho majority upon the
abatement OF tho secretary, which