New-York tribune., 1895-12-16
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DORTLyNGER'S
AMERICAN CUT GLASS.
If you want TO see the full line call NJ
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Open Evenings Until Christmas.
OR SECRETARY!
AN OPPORTUNITY FOR CHOICE BETWEEN
TWO HORNS OF A DILEMMA.
MR. CLEVELAND SAYS NO GOLD WAS fA'D o'i
FOR CURRENT ExPENsEs-MR. CARLISLE
SAYS MOST OF 1T WENT FOR THAT
osE-soMTBODY EVIDENT
LY MISTAKEN.

PrRPosE-sOMTBODy EVIDENT
LY MISTAKEN.
fry TELEGRAPH TO THE TRIBUNE1
washington, Dec. 15-It is now expected or at
least hoped, that the long overdue report of the
Secretary OF the Treasury will reach the House
y, REPRESENTATIVES tomorrow. that on Tues
day fifteen days after the assembling or Con-
gross the country will be placed In possession
., Mr. Carlisles statements and opinions respect
ing the state of the National finances. This Will
he the second time that the publication Of his
annual report has been delayed until long AFTER
tho date upon which the law requires 1t to be
submitted to Congress, and this second delay
so.ns IN he all the more unfortunate. not to
saw culpablc in view Of the declaration OF Presi-
don't Cleveland two weeks ago that "the con-
templation Of our National financial situation
makes us Immediately aware that we approach
a subject of domestic concern more important
than any other that can engage our attention.
and one present in such perpiexins ana
delicate predicament as to require prompt anu
wise treatment"
This year fer the first time In the history
of the Government. the Presidents annual mes
sage did not contain any statement IN resaiu
20 tho nublic revenues and expenditures. The
former occasion was IN 1887, but in that year
the report Of the Secretary Of the treasury was
promptly forthcoming. so that the omission
from the message OF President Cleveland was Oh
comparatively little Importance.
OF course there is reason to doubt that the
Secretary OF the Treasury will take the same
ground In his report az II what Legislation ID
raouircd 70 prevent frequent raids the gold
reserve that the President has taker In MS
message and it is altogether probable that the
: thc 1qf
that sufficient receipts of revenue would not i'm
prove the fnancia, situation as far as that re-
serve is cor cerned 1t Is difficult to imagine,
however how the Secretary will be able 10
argue with and supper, the Presidents asser-
ton which stripped of all its obscure verbiage,
was IN substance that none Of the proceeds or
sales of bonds issued by this Administrations
had been used to pay current expenses Of the
Government.
The last official utterance Of Mr.. Carlisle on
tha. subject was on February l3, 1895. in re-
s,)onse to a Senate resolution of inquiry. lie
first gave statement of the assets OF the
Treasury on January 1. 1898, and January 5i
ls95, respectively of the amounts received from
sales of bonds n 1924, and Of the amounts
available in excess Of current receipts between
January /. 1888 and January 81, 1895, and then
said:
Hence Ii appears that the or'slnai sou IeSr.'r;
bonds diminished during the period OF twenty
five months to the extent of $iRS43l547, of which
So52 lB p was directly e or u, ln1reay devo,eh % a o
converted into notes by the process OF reisfnptlo
was still hand. Il is proper to state In this con-
urv notes Of 1890 are redeemed In gold they are
received into and he.G part o, the general cash
assets In Treasury, the same as any other money
belor sing the Government. and under the acts
of MAY - 1875 a ID Jnl II; 1872 they are paI out
when necessary t. defraY the public expenses When
ever II has possible to do the redeemed notes
with banks and other financial institutions, and In
this way a large amount OF gold was restored
10 the gold fund during the summer OF
1898. and some since that time.
Here is candid admission by the Secretary
of the Treasury that than sl0j 900 900 Of the
gold reserve which had been augmented by
sIl7 900 900 derived from the sale Of bonds. had
been directly or indirectly devoted to current
expenses Since the date Of the secretary's reply
to the Senate resolution the gold has
been again replenishcd by tho proceeds of s62,
900 900 bonds amounting 20 about tGi 100000. and
the reserve to-day stands at about $1,000 ooo. or
only so. 900. 900 more than the mt borrowed
since January 81. 1895 date the re-
serve stood at sii7o6 600 ON the Same date the
amount OF "other moneys" In the Treasury was
about sl3s. 900 900 and is now tlsoOOOOO lcss. ac-
cording 10 the Treasury daily statement II
Secretary Carlisle brings down 10 date. there
fore the statement he made In response to the
Senate resolution in February. II Will show that
a very considerable portion of the proceeds OF
the last sale Of bonds has been applied to the
payment OF current expenses Of the Government