The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-12-20
CARLiSLE'S REPORT.
A Deficit IF Over &28, 5000, 900 at the Close
Of the Year.

A Deficit Of Over &28, DOC, 900 at the Close
Of the Year.
WASHINGTON, Dec. 21.--During the
first five months OF the present fiscal year,
according to the report of Secretary
Carlisle, the expenditures of the gov
eminent have exceeded its receipts to
the amount of $29,91S, 085.66, There
has been not only decrease, but also an
increase Of expenditures during this pc
Rod as compared with the corresponding
five months of the last fiscal year. The
revenues from customs have fallen off
$23, $50, S29.74: from internal taxes, ST.
500, 667. 90, and from miscellaneous re-
ceipts, 1924, 1899. The expenditures on
account of the war department in the
execution of contracts made during the
last fiscal year have increased So, 1884,
1872. AZ; on account of the navy depart
ment for the same reasons the increase
was 81 ,912 ,2S9.3l; on account of Indians,
$685., 979. So, and on account OF interest,
500, 450.25; but there have been reduc-
tons in some other branches OF the pub
lie service to the amount of Sc, 352, 2O6,
as compared with. the corresponding
period last year.
The Result of These. Changes
is that on Dec. 1, 1898, the actual net
balance in the treasury, after deducting
the bank note per cent redemption
fund, outstanding drafts and checks,
disbursing officers balances, agency ac-
counts and the gold reserve, was only
$11, U48, .25, and of the total amount
held $12, 347 $3.50 was in subsidiary sill
yer and minor coins. 1t may safely be
assured that the worst. effects Of the re-
cent financial disturbances, and conse-
quent business depression have been
realized, and that the condition will be
much more favorable hereafter for the
collection of an adequate revenue for
the support OF the government; but it
can scarcely be expected that the re-
ceipts during the remainder Of the fiscal
year will exceed the expenditures for the
same time to such an extent as to pre-
vent a very considerable deficiency. I
have therefore estimated
Probable Deficiency Of 1928, O0O, 900
at the close of the year, and if congress
concurs in this view Of the situation it
will be incumbent upon it to make some
provision for raising that amount as
soon as practicable, by taxation or
otherwise. On account of the difficulty
of securing such a sum within the time
it would be required by the imposition
and collection of additional taxes. rec
'ommend that the third section Of the act
to provide for the resumption Of specie
payments, approved Jan. IA, 1875, which
confers authority upon the secretary of
the treasury to issue and 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 All mount not exceeding
$500, 100000.
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 part Of the proceeds as
may be necessary to supply any def
ciencies in the pub2ic revenue that may
occur. during the fiscal year 1894 and
1895. The secretary recommends that
the bonds be issued in sums of $25 or
multiples thereof, and that they bear 3
per cent. He believes they can in this
manner all be disposed of at home.