The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-12-17
He Predicts n Surplus Next Year OF
$6,9SS,926, Against Estimated Den-
cit This Year OF sI7,0oo,o00
AGAIN DEGREES GREENBACKs
URGES THEIR RETIREMENT AND IS
sUANCE OF Low-RATE BONDS.
HIS Views on the Cause of Attacks on
No New Revenue Laws Are Needed.
ndianapolis Journal.

Special to the Indianapolis Journal.
WASHINGTON, Dec. 16.-The report OF
the Secretary OF the Treasury was laid be-
fore Congress to-day. IL consists for the
most part OF a discussion OF why there
is a constant efflux OF gold under the work.
ings OF the present inadequate revenue
laws. and some beautifully printed colored
plates showing how the gold persists In
going ont under President Cleveland's ad-
ministration. 1t seems curiouss that with
all the time at Mr.. Carlisles disposal since
the publication OF the Presidents message.
he was unable TO do more in this report
than merely repeat with parrot-like reitera-
tion all the fallacies and sophistries which
he composed for his chiefs message and
which have been denounced from one end
or the country TO the other. He still finds
In the retirement OF the greenbacks and
the indiscriminate issue of bonds the only
remedy for the present distressed condi-
tion Of his department and like the Presi-
dent. tortures all facts and figures 10 prove
that ''the situation does not require any
Legislation for raising additional revenue
by taxation"
Secretary Carlisie's estimates for 1896 and
1897 are interesting and reserve a word
Of consideration. He estimates that the
will be s4sl, $40, ao7 and that the total ex-
penditures will be. si4s. .Oe7 so7. leaving def
cit for the fiscal year. which ends On the
last day OF next June. OF S7.0oo.ooo. The
daily report of the condition OF the treas
ruy purporting to give the condition OF
the treasury in its issue of to-day places
the deficit to-day for the present fiscal
year at ssooo.Ooo. If the receipts and the
expenditures OF the government maintain
their present comparative attitudes. treas
ury officials concede that the deficit at
the end OF this month will amount to at
least $2oooo,ooo, that it to say then, that,
according to the confessed figures of Mr..
Carlisle's own officers, the Secretary pre-
diets that within the next six months the
treasury will be entirely able to meet all
current expenses ard wipe out In addi-
ton the three millions by which his defi-
cit at the end of the first six months
Of his fiscal year already exceeds the esti-
mated deficit for the entire year. Just
how much credence Secretary Carlsle's
estimates deserve will be best seen from
a brief glance at his former predictions.
In his report a year ago. Mr. Carlisle esti--
mated that The deficit for the fiscal year
would amount to s2o000.000. but notwith-
standing all the jugglery Of his crafty sub
ordinates, the deficit amounted TO nearly
$4S,o0o.0oo or more than twice as much as
he perdicted. In his report for 1893. Mr..
Carlisle estimated that the deficit for the
fiscal year would be about 100000. II
amounted to nearly s7o.ooo.0oo. So IL VIII be
seen that there is margin of more than 100
per cent. between Mr.. Cariisle's ficsions
and the final facts. The same proportion
will probably exist at the end of the pres
ent year. The comforting delusion OF an
eventual comfortable surplus" still finds
shelter in the Secretary's heart For 1897
he predicts surplus of about seven mill
lions. No comment is necessary on that
portion OF FIR. Carlisle's report.