The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-17

WASHINGTON. Dec. 16.-Secretary
Carlisle's annual report of the state Of
finances was sent to Congress today.
1t shows that the revenues of the
government from all sources during
ne last fiscal year amounted to $780,
S75,2O3. The expenditures during the
Sane period aggregated 1883. 1896.
leaving deficit for the year of s42.-
$685. As compared with the fiscal
year 1894, the receipts for 1895 increased
s17,57O,7O5, although there was a. de-
crease of 81, 329. 9S1 in the ordinary ex-
penditures which is largely accounted
for by reduction Of 81, 134,O55 on SUI
gar bounties. The revenue for the
current fiscal year are estimated upon
che basis of existing laws at $431, 9O7,-
l07, and the expenditures at S449. 9O7.-
i07, which will leave a deficit of ST.
100000. For the coming fiscal year end
ing June So 1897, the secretary esti-
mates the receipts at 1864. 793, 12O. and
the expenditures at S457, SS4 1873, or an
estimated surplus of Sc, 9O8, 926. The Sec
rotary states briefly the facts concern
.ng the issues of bonds during the year,
he particulars of which have already
been reported to Congress.
Boring Sea Business.
The report shows that the Behring
sea patrol fleet during the last season
boarded and examined ninety-four yes
sells. ffty-four of which We're engaged
in sealing. The number of skins ac-
tuany counted was 81 PIG. Many of the
vessels in the revenue cutter service.
the secretary says, are very old and
nearly unseaworthy and he recon-
to take the places of the McIane, the
Crawford. the Seward and one for the
port of New York.
The secretary says that the govern
ment of Great Britain has refused to
renew the sealing regulations agreed
upon for the season of 1894, providing
for the scaling up of arms, which
leaves the question of the possession
and use of arms to be determined
wholly by the Paris awards. The total
catch of seals at sea. N the award
area during the last season was 56,291,
as compared with 61.S3S 70 rthe season
Of 1894 The catch on the seal islands
was $4,000. A careful count of all of
the seals ON the islands last year makes
the number a little over 100000. a de-
crease of over one-haTf since 1891. The
secretary devotes a large share Of his
report TO d discussion of the condition
! of the treasury and the currency, in the
| course Oh WHICH ne LldnCS ttu SAlfduS-
| tive argument in favor Of the retire
ment of the greenbacks.
No Additional Taxation.
1.-THE cash balance in the treasury
on the first day Of December. 1885,"
he says, was $177, 4O6, 1856, being $685.
| ~, 420 in excess of the actual gold re-
serve on that day, and ST., 4O6,3S6 in
excess of any sum that it would be
necessary to use for replenishing that
| fund in case the secretary should at
any time he able to exchange cur
rency for gold. There is, therefore, no
! reason to doubt the ability of the
! government to discharge all Of its cur 3
rent obligations during the present
/ fiscal year, and have a large cash
! balance at its close, without imposing
additional taxation in any form upon
| the people, but adhere to the opinion
heretofore expressed that the secretary
of the treasury ought always to have
| authority to issue and sell, or use in
the payment of expenses, short time
| bonds, bearing a low rate of interest,
TO supply casual deficiencies in the
revenue.
with a complete return to the nor
NAL business condition of the country
and a proper legislative and eXecu-
tive supervision over expenditures the
revenue laws now in force will, in my
opinion, yield ample means for the
support of the public service upon the
| basis now established: and upon the
assumption. which seems to be Justl-
| fed that the progress now being made
toward the restoration Of our usual
state of prosperity will continue With
out SeriOS interruption, 1t IS estimated
that there will be a surplus OF nearly
81 900 900 during the fiscal year 1897
! During the fiscal years 1894 and 1888.
the ordinary expenditures of the gov
1 haX decreased
$50. as compared with the hscal year
1899 and it is believed that. with the
cooperation of Congress, further re-
auctions can be made in the future
without impairing the efficiency OF the
public service
Why Gold Went.
Continuing he says: The large with
drawals of gold in December, 1884, and
january and the early part OF Feoru-
ary. 1895, were due almost entirely 10
a feeling of apprehension in the public
mind. which increased in intensity from
day to day until it nearly reached the
rr0portions of a panic, and it was evil
dent to all who were familiar with the
situation that, unless effectual stress
was promptly taken to check the grow
ing distrust the government would be
compelled within a few days to sus-
nend gold payments and drop to a de-
|
More than S43. 600 0O0 of the amount
withdrawn during the brief period last
mentioned was not demanded for ex-
port, but was taken out by people who
had become alarmed on account of the
critical condition Of the treasury in its
relations to the currency Of the coun-
| try.
Tine purchase OF $500 ounces of gold
followed, it being in the contract that
NOT less than one-half of the gold was
, to be procured abroad but, after a
large part of the gold had been furn-
ishad from abroad, the secretary, in
, order to prevent disturbance in the
rates of foreign exchange at critical
period, and avoid a condition which
t would force gold exports and sconse-
ouent Withdrawals from the treasury,