The state herald. (Holyoke, Logan County, Colo.) 1887-1921, 1895-12-20
cARL,sLE.s REPORT.
Ito Says tho Present Tariff Law Is All
Right hut Condemns Treasury Notes.

Right hut Condemns Treasury Notes
| Washington, Dec. 10.-Secrctary Car
isles annual report on the state of the
finances was sent to Congress to-day. 1t
shows that the revenues of the govern
ment from all sources during the last
fiscal year amounted to $300,313,203.
The expenditures during the same perl
cd aggregated $433, 17s,s2G leaving
deficit for the year of $42,SO5,223 AS
compared with the fiscal year, 1894, tho
receipts for 1895 Increased $1T57O,1Oo,
although there was decrease of SILL
329,9S1 In the ordinary expenditures,
which Is largely accounted for by re-
dnctlon of $11, 13i, 055 on sugar bounties.
The revenues for the current fiscal
year are estimated upon the basis of cX-
listing laws, at S431,007, i0I, and the ex-
pendltures at $AS,007, 407, which will
leave deficit of S17,000.000.
For the coming fiscal year ending
June 30. 1897, the secretary estimates
the receipts at Si64, 703, 100 and the ex-
pcnditurcs ut $I'7, Ssh 1903, or an cstim-
ated surplus OF $6,00S.02G.
The secretary devotes large share of
his report to dlcusslon Of the condition
of the treasury and the currency, In the
course of which he makes an exhaustive
argument In favor Of the retirement of
the greenbacks
1'The cash balance In the treasury on
the LIST day of December, 1895" he says,
was $177, 40G,3S6, being S0S,0T2. APO In
excess Of the actual gold reserve on that
day. and ST ,I06,3SG in excess of any
sum that 1t would be necessary to use
for replcnishing that fund In case the
secretary should at any time be able TO
exchange currency for gold. There is,
therefore, no reason to doubt the ability
of the government to discharge all of It's
current obligations during the present
fiscal year, and have a large cash bal
ance at Its close, without imposing addl-
tlonal taxation in any form upon the pro'
pie, but adhere to the opinion, hereto
fore expressed, that the secretary of The
treasury ought always to have authority
to issue and sell. or use in the payment
of expenses. short-tlme bonds, bearing Il
low rate OF interest. TO supply casual de-
iiciencies In the revenue.
with complete return to tho normal
business conditions of the country. AMI
a proper legislative and executive sup
ervision over expenditures, the revenue
laws now In force will, In my opinion,
yield ample means for the support of the
public service upon the basis now cSiab-
llshed; and upon the assumption, which
seems to be justified, that the progress
now being made toward the rcs:ora, .on
of our usual state of prosperity vii. con-
tinue without serious interruption. il Is
estimated that there will be surplus of
nearly s7,0OOOOO durin,, The fiscal year
1897.
During the fiscal years 1891 and 1895
the ordinary expenditures Of The govern
ment have been decreased S.i.22so.,.iG.2 20
us compared with the fiscal year 1923.
and II is believed that, With III, co-opera-
ton OF Congress. further reductions can
be made In the future without lmpa;ring
the efficiency Of the public service"
Speaking Of the last bond issue, Mr..
Carlisle says:
The beneficial effects of this transac-
ton. the secretary says. were felt I'm.
medlately, not only In This country, bu,
IN every other tavlng commercial rcla-
Ions with us.