Daily independent. [volume] (Elko, Nev.) 188?-1915, 1893-12-21
Secretary CarliSle's Report

secretary Carlisle sent his annual
report to Congress yesterday. It
shows that during the first five
months of the present fiscal year the
expenditures OF the government ex-
ceeded the receipts by s209lS,O95.
This was brought about by decrease
In the receipts. The expenditures
are compared wi4h the corresponding
months OF last year. The customs
revenues fell off go, 6sO,s2y, and the
internal taxes s7,S66,G6I, while the
expenditures in the War Department
in executive contracts made during
the last fiscal Year increased &c, 162,.
1872, and the Navy Department ex-.
penses increased for the same reason
$l,9l2,289, with other money increas-
90. There have been reductions in
other branches Of public service
amounting to $6,352,2O6. On Decem-
Der lat the net balance in the treas
ury was only Sll,U3S.448. OF the
total amount held Sl2,346,5l7 Was
in subsidiary silver and MINOR coins.
The Secretary assumes that the
worst effect Ut the recent financial
disturbances and business depression
are past and that the remainder Of
the year will show better results, and
he estimates the deficiency ut the
close of the year at S2S.0OO,0OO. To
meet this he recommends An amend
ment Of the specie payments and The
resumption of the act Of 1875 TO
authorize him to sell three per
cent. bonus not exceeding s2m,
OOO,OOO in amount at less than
par. saying, however, in his opin-
ion, that only great pressing financial
emergencies justified such course.
He recommends that bonds be is
sued in denominations of s25 and
nultiptes thereof to To sold through
gu treasures aid postoffires. If
Congress declines 10 follow this
course he recommends that the Sec
rotary be empowered to execute obi
cations OF the government not to OK
coed S5O,OOO,OOn bearing three per cent
TO hold or circulate IN payment Of
government obligations.
He urges prompt action to prevent
serious impairment of the public
service, the payment OF pensions, etc.
re points out the necessity Of AN OK
tension OF power for the Secretary TO
maintain d larger reserve for the re-
dsmptiou Of United States currency,
showing that at this date the resu MP
tion OF specie payment only on legal
tender notes subject to redemption
and outstanding amounts TO S346,6 3I-
DIG. Now those obligations are in
creased to s499, 1890, 24O by direct obi
cations, besides the requirements to
preserve parity between gold and
silver on s4l9,332, $50 of legal tender
si liver, on which 1854, l3S, 694 in silver
certificates have been issued.
10 emphasize this he speaks of a
heavy export Of gold during the cal
endar year, which finally in spite of
all efforts, carried the gold reserve to
nearly S20,000,O00 below legal re-
quirements, the 10 vest point ever
reached since the resumption OF spscie
payments. The Secretary adds:
"As long 10 the Government con-
tinues the unwise policy of keeping
its own notes outstanding to circulate
as currency and undertakes to pro.
vide for their redemption in coin On
presentation, it will be-, in my opin.
ion, essential for tho Secretary Of the
CIeasury to possess the means Ia
meet such emergencies as the one
which recently occurred in our finan.
cial affairs, He Gays the repeal oil