Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1894-01-18

the finance committee OF the senate:
Hon d. w. Voorhees,. Chairman Committee on
Finance, nited States Senate:
Dear Sir: In compliance with your verbal
request have the honor to submit for the con-
sideration of the finance commit of the
ate statements showing the actual condition of
the treasury the 18th day of the present
month and an estimate Of receipts and expend
itures during the remainder of this month and
the month of February. It will be seen from
this statement there Is an urgent necessity for
such immediate action will replenfsh the
coin reserve and enable this department to con-
tinue the payment of public expenses and dis
charge the obligations of the government to
pensioners and other lawful creditors.
When my annual report was prepared it was
estimated the expenses during the current
fiscal year would exceed the receipts to the
amount of about S2S ,000 and 1 asked con-
gress for authority to issue and sell bonds, or
other forms of obligations, 10 amount not
exceeding $4,000, oO0 bearing low rate OF in
terest and having reasonably short time to
run, to enable the secretary of the treasury to
supply such deficiencies as might occur in the
revenues
The estimate then made was based upon the
| assumption that the worst effects of our finan-
cial disturbances had already been realized
and there would be a substantial increase in
the revenues for the remainder of the year
While IL is not believed the deficienc then
listing would be supplied by increased revenues
in the future, it is hoped no additional def
cheney would occur but the receipts and ex-
penditures during the month Of December and
up to the 18th day of the present month show
that the estimate of deficiency of f2s,ooo,O0O
at the close of the year much too low
The actual receipts and expenditures during
each month of the fiscal year 1893 and the
monthly deficiencies We been as follows:
Receipts Expenditures pcnditures
july. S 3O915, 77o 10 t6S,sss. go 877. I22 81
august e % ss sl3s,sls
Actual for three months:
sOs71,e,Z9o 9.,4so CO SO 27Os7, ,Oo4 40
Oct 80. 245'2. 9407 29,5Ss, ,s92 "a 53ol, 39z 81
Nov. ss,57s55asI Sl.OsO:eto 1922, ,ss5 50
Dec. 2s,312o27.5O 80 sos. 26151 I74623a51
1891, II days
JAM. 1o.ac9s3a37 1929 G5l14 5.s93 1877
Total sl62 os ssi.O5 sos DOs 42s 80 si3 O44si
If the average monthly deficiencies
should continue the total differences between
receipts and expenditures on June 80 next will
be a7a, 1875. IL
According to the best estimates that be
made the total receipts during the present
month and the month of February will be S41,
9jOOOo and total expenditures will be So, ,3O0,-
00o showing deficiency during the two
months of S1S, 400, ,0O but this does not include
any payments on account Of the sugar bounty.
claims for which to the amount of nearly S.
OO0000 have already been presented and are
now under inves tigation in the department
The assets OF the treasury and the current
liabilities in excess of certificates and tt ca ury
notes outstanding were as follows on the 18th
OF the present month:
In gold ........... "a. f0S 143
Silver dollars AMI bullion. .......... S092, 2S7
Fractional silver coin .............. 12,133,9J3
United States notes ............. 5,30I,27
Treasury notes of 1899 9J............ 2,4769)O
National bank notes. eS.................. H. g, 73'
Minor coins .................... 93LS2i
Deposits in bank. ................ 15,470,Se3
Total cash ..............s1 s13a s27. .sss
LIABILITIES.
Bank note per cent fun1..s 7,l9S2l9
Outstanding checks and drafts ...... 5,I639I7
Disbursing officers balances ....... 2s,176lI9
Post office department account - 3e977Il
UndiStributed assets of failed
tional banks -. 80. 1927. .727
Dis trict OF Columbia account IN, ,23)
Total agency account ............... 46 936, 3j6
Gold reserve Observation-Disclosures. 74O17,5i9
Net balance Observation-Disclosures. H. 223. 374
Total liabilities 49, ......... slsa, s77 ss9
1t will appear from this statement that the
coin reserve has been red iced to 74,1JS l49,
and 1T is evident from the condition of the
treasury that the department. will have no
means to defray the ordinary expenses of the
government unless a large part of the payments
are hereafter made from that fund. II this is
done the coin reserve Will be reduced by the
Ist of February 10 SCI 6Jl, S54 about a sum
wholly inadequate for the purpose for which it
was created On account of this critical condi-
tion of the treasury have considered it my
duty in addition TO the earnest recommends
tions contained in my annual report to appear
twice before your committee and after full ex-
p anation of the situation, urge prompt legista-
tive action on the subject.
With the permission of the committee,
have prepared and presented for it's considera-
tion bill which, If promptly passed. would, in
my opinion, meet all requirements of the situa-
tion by providing the necessary means for de-
fraying the public expenses and replenishing
the coin reserve to such an extent to assure
the maintenance of the parity OF all forms of
United States currency. While this proposed
measure of relief has not yet been disposed of
or considered by the committee, the great diff
ferences Of opinion which are known to exist
! in both branches of congress concerning the
propriety OF granting additional amended
authority to issue bonds in any form, or for
any purpose render it doubtful whether
new legislation upon the subject can be
cured in time to provide the means which
are imperatively demanded in order to pre-
serve the credit and honor of the government
Authority to issue and sell bonds for the pur-
pose of maintaining specie payment
pressly conferred upon the secretary of the
treasury by the act of January I T. 1875 but it
/ has not been exercised since 1879, and on ac-
count OF the high rate of interest provided for
and the length of time such bonds would have
to run 1 have not teen satisfied that such an
emergency as heretofore exis ted as would clear
ly Justify their issue
But the necessity for relief at this time is so
urgent and pros pect of mat rial improvement
in the financial condition of the governments is so
problematical that unless authority to issue and
sell shorter bonds or other obligations bearing
10 yer rate of interest than that specified in the
existing law is granted bT congress at very
early day. 1 shall feel constrained by sense of
public duty exercise the power already con-
ferred TO the extent at leas of producing an
adeQ uat tie coin reserve TO provide promptly for
the dehciencT in revenues during The current
fiscal year. ana 1 will from time to time advise
your committee of the condition of the treas
ury in order that this subject may receive due
consideration have the honor to be- yours
very respectfully,
G. CARLISLE, Secre tary.
Judge Long Wins His Pension Case.
WASHINGTON, Jan 15-In the district
supreme court to-day decision was
rendered sustaining the claim of Judge