Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-12-17

VERY HEAVY DEFICIT

Washington. Dec. IG.--Secrctary Car
isles annual report on the state OF the
financed was sent to congress- today.
1t shows that the revenues. of the gov
eminent from all sources during the
last FISCAL year amounted to $500. s7a, 2o3,
The expenditures during the same per-
iod aggregated si23. l7S, i2G. leaving
deficit for the year OF i2SOb, 2ss. As
compared with the fiscal year. 1894. the
receipts for 1895 increased $iL57o,7o5.
although there was decrease OF ST.
S2s-ySl In ordinary expenditures which
Is largely accounted for 1 y a reduction
or 81, l3i,055 ON sugar bounties. The
revenues for the current fiscal year are
estimated, upon the basis OF existing
laws, at sidl.9Oi.401 and the aXpendi-
lures at siis.907.i0I which VIII leave
a dcliclt OF S1IVV0001. For the coming
nscal year ending June 30. 1897 the
secretary estimates the receipts at
StCi, Ip3l20 and tho expenditures at
slbhssil93 or an estimated surplus of
s1,90S,N26. The secretary states briefly
the facts concerning tho Issues OF bonds
during the year. the particulars OF
which have already ben reported to
congress.
BEHRING SEA SEAL FISHERIES.
me report shows that the Behring
sea patrol iloet during the last season
boarded and examined ninety-four ves-
sel5 fifty-four OF which were engaged
In sealing. The number OF sklns ac-
tually counted was 3l.2ig. Many OF the
vessels In the revenue cutter service,
the secretary says. nre very old and
nearly unsehworthy. and he rucotn-
mcnds that four new ones he provided
To take the places OF tho "McL1ne,r
= ,eSsk N - h.
one for the port OF New York.
The secretary says that tie govern
ment OF Great Britain has refused to
renew the sealing regulations agreed
upon for the season OF 1894, providing
for the sealing use OF arms, which
leaves the question OF the possession
| and use OF arms to be determined
wholly by the Paris award. The to-
tai catch OF seals at sca In the award
during the last season was 5G.2Si. as
compared with 6i.SSS for the season
OF 1884. The catch on the seal Islands
was 1900. A careful count OF all the
seals on the Islands last year makes
the number a little over 100000 a
| decrease OF over onc-hnlf since 1871.
THE TREASURY CONDITION.
Tho secretary deyotes "A large share
| OF his report to discussion VI the
condition OF the treasury and the cur
| rency In the course OF which he makes
the retirement Of the greenbacSs.
THE cash balance In the treasury
| on the first day of December, 1885,"
he says. was sl77. 4O6.5SJ, being y0s.OT2,-
40 In excess OF the actual gold reserve
on that day and sf7. i06,3SG In excess OF
| any sum that II would be necessary
| to Use for replenishlng that fund in
case the secretary should at any time
| be able to exchange currency for gold.
| There IL, therefore. no reason TO doubt
| the ability Of the government to dis
| charge all Its current oDiigationB dur
ing the present fiscal yeas and have
| large 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
to always have authority TO Issue and
sell or use In the payment OF expenses
short time bonds, bearing low rate
| OF interest to supply casual deficiencies
| In the revenue. with u complete re-
turn to the normal business conditions
| OF the country and a proper legiHla-
| tive and executive supervision over ex-
pendituren. the revenue laws now In
force VIII, In my opinion. Yield ample
means for the support Of the public
service. upon the basis now entablish-
ed, and upon the assumption which
seems to be Justified. that the progress
| now being made toward tho reJtnra-
ton Of our usual stats OF prosperity
| will continue without serious inter-
| ruption, II is estimated that thore viii
be surplus OF nearly y,000.000 drrlng
| the fiscal year, 1897 During the fiscal
years 1894 and 1895 the ordinary ex-
| penditures OF the government have
been decreased s27.2s2, 65C.20, az COM
pared with the fiscal year 1898. and II
Is believed that, with the cooperation
OF congress, further reductions can be
made In the future without impairlng
the efficiency OF the public service"
GREAT WITHDRAWALS.
Continuing. he says; THE large
| Withdrawals OF gold In December. 1884.
| and In january, and the early pnrt OF
| February, 1895. were due almost en-
/ tirely TO a feeling OF apprehension in
the public mind. which increased in
/ intensity from day TO day, until u
nearly reached the proportions OF a
1 pnnic, and 1t was evident 10 NIL who
were familiar with tho situation that.
unless effectunl steps were promptly
taken to check the growing distrust,
| the government would be compelled
| within few days to suspend gold
4 payments and drop 10 deprecated all
l yer and pupei. standard. Hore than
SAG 900. 900 OF the amount Withdrawn
during the brief period last mentioned
! was not demanded for export, but was
taken out by this people who lad be-
come alarmed on account OF the critical
condition Of the treasury Ia ~ reia-
tions 10 the currency u The country.
The purchase OF abooloO ounces o.
gold followed. II being ~ the contract
"a. 49,. = NJ