New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-28
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nual appropriations made by Congress and the
nermanent appropriations? If II shall appear from
the official reports of the Treasury that we have
appropriated more money San the receipts. then l
submit the Senate that We cannot afford 70 ab-
journ until provision shall be made to meet that
deficiency, unless Congress desires the issue OF
per cent bonds running thirty years or per cent
bonds running ten years. TO he sold to meet IL
The answer made by the Secretary of the IreasuI!
the resolution of the Senate las to the condition
Of the Treasury. was. on its face misleading. II
had been got up by Clerks and bookkeepers ana
had not had the close inspection OF the secretary
From that answer. Mr.. German said, one might
draw the conclusion that there was d suihcient
amount provided TO meet the demands OF the
Treasury He would however give to the Senate
the exact condition Of the Treasury There was IN
the Treasury July 81. 1890 $S9993lO. Between that
time and December 81 1894, the Treasury receipts
except from bonds. $3.50, $685.. The ,N-
penditures during the same period Uhat Is. the
payments of the Treasury had been sl''S'.-
290.5eO showing that the expenditures had been
Nie.Ooc.000 more than the receipts.
How was The deficiency made up Senate"
asked
From the pro eeds Of the sale of bonds MI
German answered "Now the question arises
whether than condition of affairs will continue from
now on during the next year The Secretary OF the
Treasury. in his answer the Senate, has SAD
that during this calendar year. 1872 ne VIII nave
enough TO meet the expenditures oil INC
Government. That is misleading, SNAIL ueHI"H-
strate. | think that the Secretary of the Treasury
is entirely mistaken in that statement. ana tfmt
with all the revenues he will get this year he Will
have a deficiency of over S5o,V0Vo for the calendar
year and a deficiency of s6ocV0O for the fsca! year
ending June 80. 1886. 1t is not wise for congress
to adjourn leaving the treasury Department win
the open declaration made by the President of me
limited States tn { in an emergency he Will continue
10 sell bonds r. IT IL too expensive. 1t H. ping up
a public debt in a form that Is dlstasteful to the
neorle of this corntry do not criticise the
President for his action in the past. II congress
refuses or fails to provide sufficient money otner-
wise then under the construction of the law given
by the Treasury Department and the President
(Which construction l think Is not warranted) 'he
responsibility will be upon US. want 10 nave
that policy changed. / want 10 make provision lot
certificates of indebtedness running only two years
and redeemabe at the option of the Government
so that there can vs. no excuse hereafter Tor the
Department 10 sell ten-year bonds or thirty-year
bonds"
Mr. Plat Rep., Comm asked Mr.. German to state
the amount OF surplus IN the iledsui! a'iSi"e A'''
the money borrowed.
Mr. Gorman-On January !, 1885, we had only
ss 0o coo in the Treasury the appropriations
of Congress exclusive Of the gold TO redeem green
backs The Secretary estimates that MS re'elp's
from now on will be sufficient 10 meet the ordinary
disbursements provided he can use the balance ID
the Treasury in the shape of greenbacks for which
do not believe Il At If permitted to use every dollar
of receipts he viii have enough money to meet the
current expenses Of the Government by "|vv"o
without taking into account the amount due on
former appropria tons Up TO this date s-"V""p
Of approprati ons Including the sinking fund.- have
been suspended. As a matter Of course II pay
ments for public works rivers and harbors. FOR
The Navy and for other purposes are suspended
and II the enterprises which Congress determined
to be necessary parayzed, there VIII De
forced balance in the Treasury in 1896 ou, 1t viii
be simply by pine up debt obligations to an extent
of from 100000 TO 100000 more.
CARLISLE ONLY Gt' ESSING.
Mr. German PROCEEDED 10 state that the Treasury
figures the receipts from customs, internal revenue
and rniscella neous from January. 1885, 10 January
1896 had been estimated by the Secretary OF me
Treasury at $3.50 $1,000. and the expenditures Tor
the same period at $}5s0o,e' That was mere
guess and rae question was whether 1t was cor
rect one II Sny Sonat "ould take up the Treas
urv receipts for the last three years and would
average them per month, he would find that the
secretary's estimate was s25,CcGo greater for the
whole year than the average receipts MT. "orihah
gave S874l700O the amount or appropriations
made by the House at this session-which was
sls 600 600 more than the Secretarys estimate OF
expenditures. He had no doubt. however, tnat win
tho additions made by the Senate the total appro-
priations of the session would be at least $Pp""""
and that would show defcit OF AzV'o" Inc
SECRETARY Of the Treasury would have to admit that
those figures were absolutely correct Ine uuth
vas that the Secretary had made an estimate
wear ago in which there was mistake OF ssoOOW
on the wrong side and the mistake had been ad-
bered to ever since while the fact stared MIN IN
the face that. day by day. the Treasury was run
ming behind at the rate OF $1,000 gay. UT GOT
man s,r,s OF from SO 10000 to sooooO year but
this or perhaps the mex, year s s or
natriotic for us to permit Congress to adjourn
without making some provision 10 ine n, uhs u
fciency and whether it would not be unpoI' &c, ana
unwise to allow any executive on'cer 10 sell Ten OF
'h,Ty yeSr Dem Miss~wha is the objection
to having the silver segniorage In the treasury
Wr Gorman~I trust we will be able to settle
this question in a proper way, and ! appeal TO
iheores and IDEAS as to currency and simply to
provide certificates OF Indebtedness rede ea
only ina, we f as pr go 1T
ibe s esPr Of long aS"i bonds ID S go %
M Mr. Gorman gave graphic dss,rp9n Of ne
S %sy adminisration Mr. Manning then secretary
Treasury had 60, the c0 mpPer ha no OF the
why not treat them in the same way now!
NJ" dob he NE Presdent," Mr.. German replied. the
Senator should not put such question 10 me o.
You have no money In the Treasury now as you mad
then Secretary Carlisle came INTO tne depdtra-
Rs sn' iR9 ed to DO 'S%fr he
at his Golfers he found that he had no balance 10
he money ring He was helpless. ! wan! to re-
lave him And ] appeal to Senators to give nm
this authority to issue sl00GO,G0 OF currency SO
that he can say these bankers: You cannot
embarrass the Government our credit Is perfect
We have the money which the people VIII take
I am master Of the situation The Government
% The limited States should not be at the mercy OF
The money kings" This portion Of Mr. Germans
sneech was delivered with much spirit and effect
'i..The Secretary of the Treasury" Mr. George
here nut in "says he does not want these certh-
nstes 1.-THE Senator from Maryland seems to act
as sort Of warden or guardian to the Secretary
OF the Treasury. Al, . 49,, d.. 800, -, A.,
Georces remark challenged that Senator to pro
duce evidence that Mr.. Carlisle had said so. II
49, NOT in existence. Then he added: II am not
the guardian Of the Secretary Of the Treasury WI
nortion OF the people OF the United States. az
ppenresenting a State that has never repndated
Ak, n is my duty TO advocate ma tanning the
honor and credit OF the Government -,