The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1893-12-27
THE TREASURY.
Secretary Carlisle Submits His An
nual Report
Estimate Of Revenues and Expenditures
for the Fiscal Year The Deficit
win Amount TO eaS, 100000
Authority TO Issue Low
Rate Bonds Recon-
mended.

WASHINGTON, Dec. 21.-The annual
report Of Hon. John G. Carlisle, secre'
tary Of the treasury, was transmitted
to congress yesterday:
The secretary estimates the revenues OF the |
government for the fiscal year which will END
on the SOth OF next June at ss0, 900, and that
the expenditures for the same period will
amount to sioS l2l 900, leaving deficit OF VS.
0OO00O on the year. He mentions that there arc
Pacific railroad bonds, known as currency
sixes," issued In aid OF the Pacihc railroads,
falling due within tho year 1891, TO the amount
OF 40, ,S62 900, which must be paid OF maturity,
and recommends that congress take action ~
this session TO provide for them.
He suggests as means OF enabling the gov
ernment 10 promptly meet the emergency ana
provide larger reserve fund several courses OF
nction. One is the issue OF 8 per cent hve-year
bonds, In small amounts, TO be disposed OF
through the sub-treasuries and post ofices TO
our people Another, the issue OF nifty million
dollars in one year, per cent bonds OF par
Unless the effect OF the repeal OF the Sherman
silver purchase law is more fully developed, ne
does not consider II advisable TO recommend
further specific legislation on that subject
He champions the system OF substituting I'D
valorem duties for specific duties In the collec-
n, ,en centa a gallon IN the internal revenue tax
on distilIed spIrits: the imposition Of addition
| al internal revenue taxes on cigars and ciga-
rettes. the imposition OF new taxes on playing
cards. cosmetics, perfumeries, legacies and sue
| cessions and incomes derived from Investment
I'm stocks and bonds OF corporations and Joint
| stock companies.
In speaking Of the possible issue Of these
bonds the secretary says: "In the present con-
existence Of great and pressing financial
emergency would in my opinion, Justify the
| issue and sale of any of these classes OF bonds
~, tho authority now existing should bo so
rod,aed os 70 empower the secretary OF the
,rsasrrv % is,,a The honds In denominations or
su,ra ~ ,warty.axe dollars and its multiples
tbev could he readily disposed of through the
srh' ,roa.rrJes and noat ofncos. without the
oeorcv or ir,orven,ion ~ hanks or other fnan.
cioi Jns,j,n,Iona and without the payment of
co-Dnis.ions
nauch honda ,vop,d afford IN the people nj
,orao a, onnor,unItv % convert their surplus
aa,rira. into a form ~ security which,
SShiis !, would ho nersoctlv safe would NOT only
,rsroas az IN yn,no bv ,sason N Accommodating in.
,orest bn, ha az ali times available aa A means
=, n-ocnr,r, rnorov whom needed, and the ex.
nsrIence N this and other countries iustihes the
conedont baIIet ,hat such a plan would be popu.
Iar and srccessfrI Conuress alone has the
ro,,or % 80, snch rnoasurea az will relieve
me rrasen, sjtnatIon and enable the treasury "a
con,Inue the nunotual navment Of all legitimate
demands unon a. and I respeotfully but earn
asti, r,,o tbot ,,nmed,ata attention he given &c
the sphiect 1,be neceasitv for the extension OF
, The rower q, the secretary to procure and main
! ,atr a Iareer reserve Tor tho redemption OF
| Trn,,ad S,a,os currorcv muat think he eyi
A., q, o,,or,, ro ,,ho has given serious thoughI
40 ,he srbiac,n
e-...---. r,.-,,-,... A.. =, ,ho 5,,o =, ,h,
secretary IalLlsle I' saSs 'nas ,, .Io ,s-o
y, sis AZ, "a ~ re ia is.I ,srde
sasIe WIZ sos ,S a. ,ha soc,a,s-v ~ IN,
no.es W Oo eIs ,,n, a 500 ooo ooS you'd con
s,S.'s.n .,saoioo. - o.. ,ho ynaIn,enarce n
,Sn, oynovut : ~ cnrrcncv NJ mar But aimee Jul,
~ ,a.1 adSItIonai treasury notes have beer
G ia,,oS ~ re an,o,,r, ~ Hss ga slo Of whicl
G 49, NO nov, on,a,andlpg IIsa 80 92t maxim
a en-, ,So ooyorny,ort obi,gatjons IN currency s4pQ
: GOO oin Ir addi,,oy ne snvs ,bat there nav
nanr co,rad under a,thoritv NJ tho law tiIg. 3s2
IA In ,acai ,order silver unon which certii
t go haya haen issned IN Inc am cunt Of sssi
I iaa soi Win reference IN this matter the sec
.o,avr so,s'
aTTnder theae circumstances Il IA. in nv opir
l. ,or neressarv moi onlv that he should be cothe
e with fuII outhoritv IN nrocure and maintain a
L au,nia rnaarva In coin hut that tho DurDOse 10
, ,rhich snch reservc ,s IN he held and used shout
y ha r,ada 40 co,nnrebersive az the duty impose
d mon I, he mo law
d xs,er do,aTing Tho recen, es,orts Of the tren,
nv sorortnent ,o maintain the 400 600 900 r,
q serve he continues:
.so lone az The government continues this VI
70 ,yisc nolIev of Eceping lis own notes outstant
Ie irr, ,n circ,late as currency and undertakes
" nro,Ide for their redemption in coin ON preser
"A ,at,on a. will be- in NV opinion essential for III
4, secrc,arv M tho treasury 10 possess the mean
IA or 70 haye Tho clear and undoubted authority
le sc,,,rc Tho means which NAV from time 70 tim
RS hoco,ro ,scessarv to enable him 10 meet sue
4. a,aorsoncies as tho ono which has recently o.
n. cnrrsd IN our financial analrs"
:, 1,,.. =, "a % ,t,, tho o,,o,r, NJ rnone
s ,'.',.,, ,',,ida =, ,ho ,rcos,,rr on M
IN 49,, ~ ,saS ,,.as ,Ito .oi or ,,eater Than m
n ,'.', :, ,,,,,",,rd,ng on Novembc- / igJ9 an
n , 49, a, 1' 80, ,ba Ga reo,rcd Tor N
- ,snao,ian =, ,bs h,siress ot ,be,neop,e at IN
- ,i,ne This Is conelusIyely shown. he saws t
is ,hc fact ihat tho money has accumulated and
1t s,t,t .cc,muiating IN the financial centers
10 s,,ah az ev,ent as 10 constitute a serious on
n. harrassren, to the hanks I'm which Il Is depo
t'ad Tho socretarv savs that the money do,
i" ~, croa,o h,siness but busIness create, n d
)u .-a.S ,os ,Donoy and unIess there IL such n r
he ,.,,,ai ~ ,ndustSv and trade az 10 require II
n W. y, ,ho calculating medium now outstandii
q, ~ ~ no halardons 10 arbItrarilv Increase
W ',,,,,,,', Ne ,a 90 or 20 ,nnhe material ohaupes
~ ,,s ch,racter bv disturbIng'in any manner Il
relations whieh l's ulnereht iornis ho" Oea'
each otnoh -.