New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-05
MR. C1RLISLES REPORT.


If is an agreeable duty at the outset to com
plimcnt Secretary Carlisle upon the vigor ana
soundness of his Recommendation regarding 'hc
maintenance of public credit ana thc part! III
two kinds Of metal in USE ana the neeu Vi pc'
ter authority for issues OF bonds. IossipN
no is sanguine in urging that 21a per cent pohds
for a reasonable time could be sold AT par III
tho nrescnt condition Of the Nations business
but the authority asked should clearly be gwen
He estimates that 1891 100000 capitai mas peei
withdrawn by foreigners or paid abroad Wi'illh
two years which is stronger evidence IMAM lie
sunnoses of the distrust which a change OF Ma
t,onal policy has created With new revenue
law. causing a deficit Of S9,0G6'OOC in Noveh-
ber some distrust is MT strange.
Tho Secretary estimates the revenue for the
current wear at S34OO0O.O00. and the expenses
at $500 600 900. excluding postal accounts but
the actual receipts in five months OF the hsc'i
wear have been $136.39S.S1S. so that the aver
age must be over $29000OoO monthly Tor 'he
remaining seven months TO meet MS esuha'e'
though for the last two months under Inc ne"
low ,he receipts have been only about Slo.ooo,-
ooo ner month. He frankly admits that he re-
uos largely upon n great increase in importa-
lions of woollers after January /, increased 'n-
ports Of sugar. and some receipts from 'he III
come tax but he is liable 10 see bnsiheSs noie
disturbed when the greatly increased iihpor'a
tjons close American mills and deprive workers
of their power to purchase. 'hngihs slo""!
10 the policy which the people have repudia'N
he insists that no temporary check must dlinih
ish confidence that reverses must stimulate W
increased effort that raw materials must Dc
made free. and nevertheless counts upon re-
yiyal of prosperity and swelling revenues.
year ago he estimated the revenue AZ sli""o'-
400 and II has been S373.ooO.oOo, but The ex-
perience has not enlightened him.
The estimates for the current year incin"e
$50 427T4s for postal receipts. when were
! s75 479 for the last fiscal year, ana the
| Postmaster-G Generals most sanguinc estimate j.
that the Increase this year may be ) per cent
which would fall much short of the Treasury
figures 1t is fair 10 remember That estimates
in times like these are attended with peculiar
difficulty. but when Mr.. Carlisle calculates on
an increase Of $53.OO0,OO0 over last year IN Gus
toms. and SI3O0OOOO in internal revenue, as
| tho result for the fiscal year 1896. II Is nara 10
resist the impression that he has trusted too
much 10 his theories and studied facts not
enough. With strong devotion 10 the same the
| or,es he urges the repeal Of the law denying
| tho flag and registration to ships not built in
| This country and affirms that the law confers
| no benefit on domestic shipbulders. Mr. Car
Isle persists In attributing prostraton OF busi'
| ness and withdrawal Of foreign capital TO de
fects of the monetary system, just as they were
| attributed i'm August of last year To the silver
| purchase law He now conceives that the ne
| cessIty Of redeening notes IN coin, and OF re-
! issuing notes. causes the repeated depletion OF
the gold reserve which has been met by repeat
ed ISSUES Of bonds But if revenues had moi
been wantony cut down below expenditures
by Free-Tradc legislation. and by favors to The
Sugar and Whskey trusts, and if such change
had not been feared. it is not at all clear tha'
gold would have been withdrawn at any time
since the Presidential election. any more thar
It was in the October preceding when mucl
gold came hither from Europe.
The Secretary's recital OF operations In var1
Gus branches Of his department during the tisca
wear ending last June does not require mucl
comment, as all the important events have beer
discussed months ago. The recommendation
that minor customs districts might be consoli
dated merits notice, but it is by no means Ger
tain that smuggling would not thereby be en
couraged No suggestion is made regarding
silver coinage or other changes In the currency
except those separately noticed in connection
with the banking plan. 1t Is urged that re
vision of quarantine regulations has helped Il
avert pestilence, and better provisions ar
deemed desirable for interstate quarantine.