The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1894-12-05
| CARLISLE'S REPORT.
litsttr-I
The Secretary of the Treasury
Submitted it Yesterday.
MANY REFORMS SUGGESTED.
Says the Customs Districts Should
be Reorganized---Th New
Currency System.
MANY REFORMS SUGGESTED.
Associated Press.

Associated Press.
washington, Dec. 4-The annual re-
port of the secretary of the treasury
was sent to congress today. 1t shows
that the revenues OF the government
from all sources for the fiscal year
ended June 30, 1894, were $S72,9O2, 49S,
and expenditures, $442,6O5,75S, which
shows deficit of s6O,SoS, 26O. AS com
pared with the fiscal year 1893, the re-
ceipts for 1894 fall off $SS,914,06S During
the year there was decrease Of $l5,-
952, ,674, in the ordinary. expenses of the
government. The revenues for the cur
rent year estimated upon basis Of
existing laws, are: From customs,
$3.50, 900, 900; from internal revenue, $685.
900, 900; from miscellaneous sources, Sl5,-
900, 900; from postal service, $S4,427, ,74S;
are estimated as follows. For civil
The expenditures for the same period
are estimated as follows: For civil
establishment, $91, ,25O,OOO for military
establishments, 5325O,OOO; for naval es-
Establishment $S2,5OO,OOO; for Indian SER
vice, sl1, $780, 900; for pensions, $14OOOO,OOo;
for interest on public debt, $S1,000,OOO;
for postal service, sS4,427,749; total esti-
mated expenditures, $444,42774S; total
deficit, $2O,O0O,OOO 1t is estimated thar
on basis of existing laws the revenue
Of the government for the fiscal year
will be: From customs, $1S5, 200, 900; from
internal revenue, $l9O,OOO,0OO; from mis-
cellaneous sources, s15,OOO,OOO; from
postal service, sS6,9O7,4O7. On the sub
ject of customs administration, the sec.
retary says there is in his opinion
great necessity for reorganization of
the customs districts throughout the
country. The appropriations heretofore
made annually for the enforcement of
the Chinese exclusion law are declared
to be inadequate for the purpose. In
the judgment of the secretary they
should not be less than 100000 per an
num- The pending treaty between Chi
ma and the United States will necessi-
tate the exercise of greater vigilance,
and a consequent increase in the ex-
pense. The most important feature of
Mr.. Carlisle's report is his discussion
of currency. reform, in the course of
which the Administrations plans of a
new system of currency are set forth
in detail 1t is in brief as follows:
I. The. repeal of all laws requiring
or authorizing a deposit of United
States bonds as security for circula-
ton.
2. Permitting banks to issue notes,
to an amount not exceeding rs per cent
Of their paid up and unimpaired capital,
but to require each bank before receiv-
ing notes to deposit guarantee fund
consisting of United States legal ten
der notes, including the treasury notes
of 1890, to the amount of 80 per cent
upon the circulating notes outstanding,
ito be maintained at all times, and
whenever a bank retires its circulation
in whole or in part, its guarantee fund
is to be returned to 1t in proportion to
the amount of notes retired.
3. To retain the provision Of the law
making stockholders individually la
Bile, and provide that circulating notes
shall constitute a first lien upon ALL
assets of the bank.
4. To impose tax of one-half OF
one per centum per annum, payable
semi-annually. upon an average amount
OF notes in circulation to defray the
expenses of printing the notes. the
official supervision Of cancellation, etc.
5. No national bank TO be Of less
than ten dollars and all
notes of the same denomination to be
uniform in design, but banks desiring
to redeem their notes in gold may have
them made payable in coin. The sec
retary Of the treasury TO have author
ity to repair and keep on hand ready
for issue upon application a reserve
Of the blank national bank no.es, notes
for each banking association having
6. Requiring each national banking
ass 1ciation to redeem its notes at its
own Office. or at It's own official agen-
cies. to be designated by it.
7. To provide safely fund for the
redemption Of circulating
notes Of national banks. to impose a
tax OF one-half Of one per cent per an.
mum upon the average circulation Of
each bank, until the fund amounts to
i've percent Of the Total circulation out
staziing. To require each new bank
and each bank taking out additional
TO deposit its proper propor.