Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1893-12-27
NATIONAL FINANCES.
SECRETARY CARLISLE'S RE-
PORT SENTTO CONGRESS.
A Deficit of s2s. 600, 900 Figured ont
for the End of the Year Recon- ends
$500, 900, 900 Bond Issue to Nee
the Deficit-Interesting Figures.

report of Secretary of the Treasury
Carlisle. which had been unusually
delayed and long expected by busi-
ness men, was sent to both houses of
congress to-day. 1t is very thorough
and exhaustive review of the condi-
ton of the governments finances,
and contains many recon mmendations
for the relief of the treasury.
In opening the secretary said:
During the first five months of the
present fiscal year the expenditures of
the government has exceeded receipts
to the amount of $50, 9lS, ,O95. to. There
has been not only a decrease of r.
ceipts but also an increase in ex-
penditures during this period, as
compared with the CORES ponding five
months of the ist fiscal year. The
revenues from the customs have fallen
off SEQ, $50, S29. IA; from internal taxes,
81, S66, CO... SO, and from miscellaneous
receipts, 1924, 152. 80. The expenditures
on account of the war department n
the execution of the contracts made
during the last fiscal year have in
creased Sc, 163, 1872. AZ; on account
of the navy department for the
same reason the increase has
be en- 81, 912, 2S9 81; on account of In
dlans, 1886, 07S. .55: on account of inter
est, 500, $50. %; but there have been
reductions in some other branches of
the service to the amount of Sc, 353,-
206 as compared with the correspond
ing period of last year. The resu. of
these changes is that on the first day
of Decem Der, 1898. the actual net bal
ance in the treasury, after deducting
the bank note ) per cent redemption
fund, outstanding drafts and checks,
disbursing officers balances, agency
accounts and the gold reserve, was
only $11,O3S, 44S 25, and the total
amount held S12, BAT. 517. so was in sub
sidiary and minor coins.
l have estimated a proba BILE de-
tciency of SIS, 900, 600 at the close
of the year and if congress concurs
in this view of the situation, it will
be incumbent upon it to make PRO-
vision for raising that amount as soon
as practicable by this action or other
wise.
BOND ISSUE TO MEET THE DEFICIT
On account of the difficulty of Sc
curing such sum within the time
allowed by the imposition and collec-
tion of additional taxes, l recommend
that the third section of the act to pro-
vide for the resumption of specie pay
ments approved January IA, 1875,
which confers authority upon the Sec
retary of the treasury to sell certain
descriptions of United States bonds,
be so amended as to authorize him to
issue and sell at not less than par in
coin bonds to an amount not exceed
ing $500, 600, 900 bearing lower rate of
interest and having shorter time to
run than those now provided for and
that he be permitted to use from
time to time such parts of the pro
ceeds as may be necessary to supply
any deficiencies in the public revenue
that may occur during the fiscal year
1894 and 1895"
The secretary enters upon an ex-
tensive review of the tariff and the
proposed revision, as outlined in the
Wilson bill, which he says meets his
approval He maintains that the only
just purpose of a taIiff is to raise
necessary revenue He holds that the
system of specific duties is not just
and indorses the change to ad valorem
duties which the Wilson bill makes
The secretary concludes his tariff re-
view with plea for free raw material
and the placing of light duties on the
necessities.
Mr.. Carlisle has figured out that,
with the revenue which the Wilson
bill will provide there will be de-
ficit of $4,000, 600, and to raise this he
advocates the increase of internal
revenue taxes on whisky, tobacco and
playing cards and an income tax on
corporations and legacies
FINANCES OF THE GOVERNMENT.
Reviewing the receipts and expendi-
lures for the fiscal year 1898, the sec
retary says the governments revenues
from all sources for the year were
$461, 7l6, ,561.O4, of which $203, 355,-
O1673 was from customs and $l61 ,O27,-
632. 65 from internal revenue The
total expenditure was S459, 374, SS7.65,
leaving a surplus of S2,34l, ,674.29 AS
compared with 1892, this shows an in
crease in receipts of S35, ,S4S, 3O1. 72, and
in expenditures of $3s, asa. 4.6232l. On
the basis of existing laws the reve-
nues of the government for the pres
ent fiscal year are estimated at $780,
121, 365.3 3S and the total expenditures
at SASS, 121. 365. 80, or de-
felt of $2s, ,09O,O 900. The prin-
cipal items in these estimated
revenues are: From customs, S175, ,O0O.-
600, and from internal revenue $780,
100000, while 1852, 600, 900 for pensions
constitutes the largest item in the es-
timated expenditures 1t is estimated
that on the basis of existing laws the
government revenues for the fiscal
year 1885 will be S454, 427, A. The
estimates of appropriations heretofore
submitted for the year aggregate
S44S, 300, 7s9 90, or an estimated surplus
of S66. 100, 95S So
Discussing foreign commerce the
secretary saws the total imports were
for 1892: Merchandise, Ss27, ,402, 462;
gold, $40, 500, t54; silver, Sl9, 955, 0s6;
exports, merchandise, $1,000. 27s, 14s:
gold, $50, 1876, 1927; silver. S32, So. $50.
For ls93-Imports, merchandise. $685.
400 922; gold, S21, ,l74.3s1; silver, S23,-
1913, 272; exports, merchandise, Ss47,-
665, 1914; gold, s1os $50, s44: silver, $40,
TAT 3IQ