The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1895-12-18
UNCLE SANS FINANCES.
Annual Report Of the Secretary Of
the Treasury.
The Last Fiscal Year Showed a Balance
ON the Wrong Side OF the Ledger Of
Over s4a, 900, ,OOO-AnotherI Issue
of Bonds Necessary to Main
tain the Gold Reserve.

WASHINGTON, Dec. l7.-The annual report OF
Hon. John G. Carlisle secretary OF the treas s
ury, was sent TO congress yesterday. That por-
tion which referred to national finances was as {
follows: ,
At the beginning OF the last fiscal year. July
l. 1891, the cash balance In the treasury ex- {
cluding all current liabilities but including
gold reserve OF s6i sf302i was Sll7 584 433, and
at the close Of the year, June %, 1895, the cash
balance excluding all current liabilities but
including gold reserve Of S1OOOOO,OOO, was
Sl95 $40 1853, showing an increase of S776o1,nf
The excess OF expenditures over receipts our
ing the year was Sl2 So, ,2.23, as against dell
cheney of $50 85S, ,260 during the fiscal year 1871.
The total receipts during the hscal year loS'
were Sl5, ,055 greater than the receipts our
ing the fiscal year 1884, and the expenditures
were S11, $50 osl less than during the year 1871
The revenue derived from customs during the
fiscal year 1895 exceeded the revenue derived
from the same source in 1891 by the sum OF S2O,-
3iOOe6. but the receipts under the internal rev.
erue laws and from some other sources were
less than during the previous year, so that the
net increase Of revenue was sl5,6cs,O 90 as above
| stated.
He estimates that for the current fiscal year
| the revenues from all sources will be s43l wv
| 4G7 and the expenditures for the same period
s44S 007, ,4G7 leaving deficit Of Sl7 100000 Upon
| the basis OF existing laws the revenues Tor the
fiscal wear 1897 are estimated at $i6i ,793 l2O ana
| tho estimates OF appropriations as submitted
| to congress by the several executive depart
ments call for an expenditure exclusive of tho
sinking fund of S457, ,sA, 1882, thus leaving ah
estimated surplus Of SG0JS92G8a
The secretary makes no recommendation for |
increasing the revenues Of the government. he |
saws the situation does not require any leglsla- |
tion for raising additional revenue or taxation |
at this time. Ho says while all the essental
agencies for an efficient administration OF the
public service should be adequately PROVIDED
for he feels sure that careful examination
will disclosem many sources OF expenditure whlch
might be greatly reduced or entirely abolished,
and legislation in this direction, together with
a refusal to make appropriations for new OBJ
jects Of doubtful necessity or propriety, would
tend very materially to equalize the pubic re-
| ceipts and disbursements. With complete
return to the normal business conditions OF the
country, and proper legislative and executive
supervision over expenditures, tEe revenue
a laws now in force yield ample means for the
support of the public service upon the basis
now established and upon the assumption,
4 which seems to be justified, that the progress
now being made toward the restoration OF our
!, usual state OF prosperity will continue without
!, serious interruption, he anticipates surplus
Tho secretary states in detail the different
: bond transactions entered into since the ao-
II journment Of the last congress ana states that
A the contract entered into for the last issue OF
tG23l5 400 OF per cent bonds was fully car
= ried out by the syndicate to whom tho contract
n was given and that the beneficial effects OF
It this transact IN were felt Immediately, not
,c only in this Country but in every other haVlhg
commercial or financial relations with our peo-
pie" But he says the safety OF the existing
q situation Is constantly menaced and further
,e progress toward u cOmplete restoration OF con-
- fidencc and prosperity is seriously impeded by
- the defects in our currency laws, and the DOUBT
a and uncertainty still prevailing in the public
I'd mind especially abroad, concerning the future
H. monetary policy of the government Thest
~ difficulties he proposes to remove by the retire
- '. ment of the greelbacks and the extension o.
Ie the national bank system as Indicated in tht
IS. presidents message. He controverts the con
DO tention that surplus revenue would eXtrlcat'
&c the country from It's difficulties and states:
No surplus revenue, however large coulu ex
o. tricate us from our present difficulties or giv'
a assurance of safety in the future unless /
N. should be required to be paid in gold under
III system which would exempt the government
from the obligation to furnish the gold whei
ii demanded to be used In making the payments
lo and It is scarcely necessary to suggest hat sue
ot n system Is impossible as long as the Unite
he States notes and treasury notes are kept
4 | ClrculuIlUu uuu hlO lOuSNiA"''S -. oS@N -
u government itself on presentation.
an AS a temporary remedy for existing como
les tions he suggets that authorization be given
la ! the secretary of the treasury Ito isSre froi
- time TO time bonds payable in gold, bearing II
ll terest at o rate not exceeding three per cen
per annum and having long time 10 run, ar
aid | to exchange the bonds for United states hol'
A., and treasury notes upon such terms US may
uly most advantageous to the government or tose
)ne them nbroad for gold whenever, in his Judi
it, meut. it is advisable to do so and use the go
Inc thus obtained in redeemng the outstandil
frl notes" T., :,
i report are reorganization OF customs ulstrlc
did and more stringent regulations to prevent l
,o,- fection from yellow fever from the port OF Ii
- ~ vana. He renews the recommendations FOR
tne retiring provision for officers Of the reven
lall | marine service and commends Commission
and | Chamberlain's recommendations as 10 the 7
4bo vision Of the navigation laws or tnc Unit
States and asks for an additional assistant sc
Ill rstary OF the treasury to take charge OF l
you consolidated marine bureaus OF thaV aepal
ives mcnt He commends the manner IN whleh |
,,,o work Of patrolling Bcring sea and tho MOI
Pacific ocean for the protection OF seal lie
ol carried out under tho supervision of Ca
our Eooper of the revenue cutter Rush, and ref'
rid | 10 the iact that notwithstanding the propond
red ance Of British Canadian vessels in the seal
not nee., INV resseI tn assist in the patti
last mi This vessel, he says, was stationed for
Sreater part of the time ct Sitlla and Cna!as
Yes; thnn " ' to receive British vessels seized b.
esp feet. A. ,.,,,,. =,
lake ru,,Nur to carry out in GOOD IA
nut he ",t Paris award the secretary states that
ID use Of firearms In fur seal fishing in BerlnS
-. | e;.al l,x In pnrig n ward rprnti