The state republican. (Jefferson City, Mo.) 1871-1896, 1893-12-28
CARLISLE'S REPORT.
of the Report of tho
Secretary of tho Treasury
Laid Before Congrcss-A Deficit OF sas,-
100000 In sight ut the Close OF
the Present Fiscal Year
Recommendations.

w~AsuINecoN, Dec. GO. Tho annual report
~ hon. John g. Carlisle. secretary OF the
treasury, was submitted TO ccngfess, Of which
the following is m ab1tiact:
THE REVENUES.
ME secretary estimates the revenues OF the
government for the fiscal year, which will rnH
on the both of next June, AZ s,SA, i"l ,0UI, and
that the expenditure Tor Nhc same period will
amount to f,As ist, e1C. leaving q deficit OF as.
wNfOW on The year. He mentions that there
are Pacific railroad bonds. known US eur.
rcncy SKIES issued In did Of the Pacific
railroads, falling due within the year
1894, to tho amount OF sc,362,0O IN which
must DO paid nj maturity. and
that congress ttakc action at this session 10
provide for Thorn. He suggests ~ d means Of
enabling the government to promptly meet the
emergency and provide u larger reserve fund
several courses Of action. One is the Issue OF
= per cent. ilvc.ycar bonds, In small amounts,
to he disposed OF through the sub ueasurics and
post Offices to our own people. Another, the
issue OF tlo,oJ0,0DO in onc.ycar 3 per
cent brnds ut par. Until the effect OF
tho repeal of the Sherman silver purchase
law is more fully developed, he does not
consider 1t advisable IS further
special legislation on that subject, lie favors
legislation to authorize y more extended use OF
silver certificates. lie refers to the opinion OF
his predecessor and Of the late attorncy.gen.
cral that the gain or scigniOragc resulting from
the coinage Of tho silver bullion as II pro.
presses constitutes q part OF rtho general
assets OF the treasury, and states tina, he has
ordered the mtnts ut New Or
leans AMI San Francisco to he kept in
rcnlin"ss to the coinage OF stand.
ana silver dollar, at any time when required
POSSIBLE ISSUE or noNDs.
In speaking ~ ihr possible issue OF bonds
under tho att Of July II, 1870, the sccrc.
,nry says: In the present condition
OF the country's credit nothing less than
the existence Of IA prcut ma pressing
financial emergency would. IN my opinion. jus.
tify the issue and sale OF any OF those classes
Of bends. On the first class the interest would
amount, Mt the maturity OF the bonds, to one.
half the principal; on tho second class it
would amount to more than twot thirds Of tho
principal, and on the third clnss it would OK
coed the principal by 20 per cent. II any ono
of thcsg methods of raising money were pre-.
scented as an original measure Tor consideration
III congress. / um satisfied it wulld not receive
the approval OF that body or Of the people,
III the authority now existing should be so
modified as to empower tho secretary Of the
treasury to issue the bonds In denominations Of
Sa5 and Its mu,tiulcS. they could be readily dis
posed Of through the suh-trcasurics aud post
Offices without the agency or Intervention Of
banks or other financial institutions and with.
out the payment Of commissions. such bonds
would ford 10 the people at large an uppur-
tlnity e. convert their surplus earnings into a
form of security which, while 1t would Ne per.
tcctiy safe. would not only increase IN value ny
reason Il ncrumul4tinr intcrn., I'm, lie al ali
i'm. ayoiiunIr ns mo ,nr,rs NJ rro,,ri,,,
money whom needed. mud tho cvprrlrnrc ~
mi, md othcr rountrio, ~in.riprs mo
cnngl,ut l.rgf ,h.t sr,b ~ ,i"o
would b" popular and successful. Congress-
Dlonc has the power to adopt such measures as
The treasury fn c,rtiuu, mo rInrI,.I r,,,nnn,
Of nil lr,iti,nntn i,m,pls ,innr IL and + va.
sncctf,i,y I'm, ,nrun,,Iv ur,n Inn, fn,naIia,c
pt,outirG lie lyon 10 ,bn sIltc,, mo rrr.s.
,fty for The extension Of Inn r,wrr NJ tho 600.
rotary I, rrnrprn aud rnnlp,lir n lor,,c rr.nrr,
for rhr rclomntlou of Initial states rrrr,nr,
must | thiot IN, evident IN rvrrvnno who
has riyeu serious ,hC,,,ht in M, sn,ioc, - -
,rrrr~.r r,,,
so,ro,,ry C~,rt.r, me-. ,n,, a, ,,o to,o ~,
the rclcmntion nf snorir M yncnts January ,
is1p thar, ,yrr, sfiG Isl Ob az tho oll lc,,I ton,
dor ,n,,a IA la rnhr.,,c1 ana IA, .,cro,ar. or
Tho treasury ,n,.i,i.r,I Inn, EinIo OI um, yn,,t
constitute II sufficient lnsis for Tho r.i,,n,
nance cr That ,u,,,,, ~ r,,rr,,r, NJ INV M,
since .irly II! ls.D additional trn,.,rr
notes have been issued to the umonn,
of sl5i p3oQID. of which thcrn orc
now Outstanding Sl53 AIS 2nl. making the
government oblirations in currrnrv siop
qga2 40. In addition, he sayg that there maze
been coined under authority Of the law siIA.
M bSO In lnynl lender silver unnn which ccr
tInrains have hnnn issued In In, nmn,n, N,
33ll2s.5l+ with reference TO this matter. The
secretary says;
finder these circumstances it IL, In M
orluiou. necessary not nnlv that he sb,uIl hc
clothed with fun authority to procure ana
maintain an nmDln reserve in coin Inn mn, thr
plrrosrS for witch suvh reserve il ,o lao briI
NM ,.,i .1.,'f 1 ,