The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-12-17
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CARLTsLE's REPORT.

The long-expected report Of Secretary
Carlisle on the condition OF the treasury
was sent TO Congress yesterday. and is
given 70 the public this morning. Like
the Presidential message, il will prove a
disappointment TO those who expected an
outline OF definite policy TO be pursued
In dealing with the deficit, and also like
the same message it offers no remedy for
the export OF gold save the retirement of
greenbacks.
The report shows that the revenues from
all sources for the last fiscal year were
$500, 373 203 and the expenditures $433, 49,
S26, leaving deficit for the year OF $42. $685.
223. Estimates for the current fiscal year
calculate revenues under the existing laws
ut $i3i ,907, d07 and the expenditures at
$44S, 90T ,407, leaving deficit at the end Of
June, 1896, Of about $17,0o0,000. This cal
culation fixes the coming deficit at con-
siderably less than has been generally
estimated, and implies that the monthly
deficiency will be much less for the re-
mainder OF the year than il has been
during the six months that have already
elapsed
Even upon the Secretary's own figures
it would seem thnt some change should be
made in our revenue laws. deficiency
OF $l7 ,0000 900 will not be as bad as the one
of last year, but there ought TO be no
deficiency at all. The Secretary, how
ever, recommends no change in the
laws. He argues that the revival OF pros
perity will increase the revenues under the
existing duties, and that by reducing the
expenditures of the Government there will
be n surplus OF income for the treasury by
the close OF the fiscal year ending with
June, 1897. He would have the country
give the present tariff until that time to
prove its value rs revenue-producer, and
in the meantime would let the Government
struggle along with deficit and enforced
economy as best II can.
On the currency question the Secretary
contents himself with an Endorsement of
the Presidents recommendation for the
retirement OF groenbacks. He says: II
am thoroughly convinced this (the pres
enD policy ought not to be continued, but
that the United States and treasury notes
should be retired from circulation at the
earliest practicable day and that the Gov
eminent should be relieved of the re-
spousibility of providing q credit currency
ipt tiit ptoplts
With this report we may be said to have
had the last word Of the Cleveland ad-
ministration on the greater issues OF the
day. Practically 1t is plea for more
bonds. The Secretary would have bonds
TO raise money to tide over the deficit for
this and the coming year, and bonds TO
retire greenbacks. These are the issues
which Cleveland forces upon the attention
OF Congress. 1t is not at all likely that the
recommendations will be followed, but
they will certainly give rise TO great de-
bates and to long political agitatons. In the
respect, therefore, that they have raised
far reaching issue in our politics the mes
sage OF the President and the report of the
Secretary are among the most noteworthy
ever laid before Congress, but fortunately
their influence is much less than their
notability. The actual solution of the
questions raised by the deficit and the gold
export will he furnished by the Republican
party in accordance with the great policies
Of protection and bimetallism.