Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-03-08

WASHINGTON, March 7.-EX-Secre-
tary Charles Foster said this evening
that the treasury was down TO bedrock
when turned over 10 the new Secretary
to-day.
Mr.. Carlisle finds himself confronted
with q great responsibility to maintain
the gold basis and man OF less ability
might find the task very difficult one.
1t is probable that before be has been
two days Ia his office be will find IL nee
essary TO choose between issuing bonds
and the entrenching upon the gold
reserve. The ex-Secretary said that
the department was now practically
TO the gold reserve, there being less
than two million Of free gold. lie did
not regard the situation as alarming,
however, as all the excitement about
the gold shipments appeared TO have
subsided. It was, be said, better con-
ditlOn than he expected 10 ind az this
time, and did not look as alarming a. II
did a week ago. Without saying IL In
40 many words, he intimated that Mr..
Carlisle would have 10 trench upon the
500, 100000 gold reserve or else issue
bonds.
When asked II be did not think bonds
I would have TO be issued, he replied that
Mr.. Carlisle might, instead OF that, use
some OF the reserve He did not want
to make any predictions as TO what. his
successor would do, but he was confident
that he would be able by some means TO
preserve the gold basis by meeting all
demands for gold made upon the de-
partment. He said that Mr.. Carlisle IN
doubtedlY had right TO use a part OF
the gold reserve If he needed to do so,
Besides the gold reserve, Mr.
Foster said he would turn
over to the new Secretary
about 500, ,OOO, 600 consisting Of national
bank reserve and subsidiary coins and
disbursing Office balances. Against
this are all the outstanding drafts, COW
ering most OF IL, but not liable TO be
I presented for payment al once. "COn-
Vress," he said, ''ShOuld have increased
the whisky tax so cents and given Us
chance TO replenish our stock OF money.
The fact is" be added, "that the de-
mand for gold is perfectly regular. II
IS not speculative. IL is the natural de-
band from foreign countries. The only
Nfhing artificial or speculative In the sit
nation was the effort made 10 keep the
bold here, however. There is nearly
-
public mind is comparatively easy and
have no doubt that Mr.. Carlisle will be
able 70 put himself in position to meet
all demands for gold.
The majority and minority reports OF
the Committee on Ways and Means on
the investigation into the condition OF
Treasury Department was to-day COM
pleted and sent TO the printer. Append
ed TO the majority report prepared by
Representative Springer is copy OF the
statements sent TO the committee Oy the
Treasury Department and OF the testi-
mOny taken on the subject. Mr..
Springer In his report says, assuming
that the statements made by Secretary
Foster are correct, on the 30th day OF
June next there will be an estimated
balance OF S2O,092, 81 over aud above
the legal gold reserve. IL will appear
from an examination OF Mr.. Fosters
statement 20 the committee In
exclamation OF this estimated balance
that Il is probably too large. The avail
Able balance will be reduced by the pay
ment OF the Choctaw claims, $4,000, OOO
II will also be reduced by the unesti-
mated ana extraordinary expenditures
whichsmay be incurred, and also by any
, failure OF the estimated receipts from
customs, internal revenue or other
sources during the time indicated. The
majority are OF the opinion that at the
close OF the present fiscal year there
will be an available cash balance in the
treasury aside from the gold reserve, OF
not over s17,00O,O ,OOO
As to 1894, Mr. Springer says that
according TO the treasurer'S estimate
the secretary estimated an syallable
cash balance OF S47, $50, ,4O7, not taking
tbe one hundred million gold reserve
into consideration, but note at the
bottom OF the treasurer'S statement
shows that this balance is chargeable
with contracts already appropriated for,
Amounting 20 100000, 600. II is impos-
sible that all OF this amount will be
called for during that fiscal year, but
this Is the amount estimated by the
deDartment and the available cash bal
ance would be- reduced 70 s., 500, 600.
IL also appears from this
Abatement that of the contract
liabilities existing December 81
1902. the item SIG, l12, $50 will be called
for in 1894 for rivers and harbOrS. or
This amount, Sl4, loo. l53 has been ap-
nropriated for in the sundry civil bill
for 1894. The charges on the treasury
for that year must also be augmented
By whatever deficient appropriations
d. may be required, which, including pen
sion deficiencies, have averaged during
the past FIVE sessions S25, 600, 600 each
year To this deficiency must be added
the amount Of miscellaneous
appropriations, which for five
wears past have averaged
s.. OOO, 600 each session. From those
estimates, however, il is probable there
nav be some saving on estimated ex-
penditures in the actual appropriations
Under the most careful estimates that
can now be made, il is apparent, says
fhe report, that the end Of the fiscal
wear there will be a deficiency amount
Ing 20 from $50 OOO 600 10 $40, 600, OOO
In these calculations no account what
aver has been taken Of the requirements
al the sinking fund. The require
ments Of this fund were not In effect
this year, and no effort has been made
10 meet such requirements during the
current fiscal year, nor will any
OF its requirements De observed
AIRING the ensuing fiscal year. unless
mere is large increase in the revenues
of the government The balance due
the sinking fund IN 1892. was S11, ,3O7.-
a25. the requirements for 1898 are eSti-