Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1895-12-21
ISSUING OF BONDS DEFENDED
Purchases o: Gold and the Issue Of
Bonds Therefor lie Regards
Good Finauciering.

dSlIHS toA OeC 1o.-Secretary Car
isles annual report was sent to con-
gress today 1t shows that the revenues
of the government from all sources dur
ing the last fiscal year amounted to
1896, 373,2O3. The expenditures for the
same period were $493 ITS, 1926, leaving a
deficit Of $42, 805, 623. AS compared with
the fiscal year Of 1894, the receipts for
1895 increased $17.570. 7O5. although there
was a decrease Of 81, $685. 81 in the ordi-
nary expenditures, which is largely &C
counted for by a reduction Of 81, 1874, 055
on sugar bounties.
The revenues for the current fiscal
year are estimated upon the basis Of ex-
listing laws at $431 ,907, 407 and the ex-
penditures at $448907, 407, which will
leave a deficit Of 170OOO 900. For the
coming fiscal year ending June so, 1897,
the secretary estimates the receipts at
$464 1893, 120 and the expenditures at $751;
S84, 1873, or an estimated surplus Of S.,
908927.
The secretary says that Great Britain
has refused to renew the sealing resolu-
tons agreed upon for the season Of 1894,
providing for the sealing up of arms,
which leaves the question OF possession
and use of arms to be determined Who'll
ly by the Paris awards. The total catch
of seals at sea in the award area during
the last season was 56,294, as compared
with G., 1888 for the season of 1894. A
careful count Of all the seals on the ISL
ands last year makes the number lit
tie over 200 900, a decrease of over one
half since 1891.
The secretary deVotes large share or
his report to discussion of the condi-
ton Of the treasury and the currency In
the course of which he makes an ex-
haustive argument in favor of the re-
tirement of greenbacks.
GOLD RESERVE.
1.-THE cash balance in the treasury on
December /, 1896" he says was $l71-
400, 1856, being $9S, or, APO in excess of the
actual gold reserve on that day and $T|'-
4O6. 1856 in excess of any sum that IL
would be necessary to use for replenish-
ing that fund in case the secretary
should at any time be able to exchange
currency for gold. There is, therefore,
no reason to doubt that the ABILITY Oh
the government to discharge all or the
current obligations during the presehI
fiscal year and have large cash pdi-
ance at it's close without imposing auul-
tiOnal taxation in any form upon the
people. but adhere to the opinion mere
tofore expressed that the secretary oi
the treasury ought always TO nave au-
thority to issue and sell, or use III Tue
payment of expenses, shOrt-time pohuS'
bearing a low rate of interest, to supply
actual deficiencies in the revenue.
with q complete return to the nor
NAL business condition of the country
and a proper legislative and executive
supervision over expenditures, the rev
enue laws now in force will, in my oplh-
ion yiald annie means for the support
of The nuh1ic service upon the basis no"
established: and upon the assumptioh'
which seems to be Justlneu' Tia. ~
progress now being mace to"aiu
restoration of our usuaI STATE "
perity will continue without seiiou
terruption, 1t Is estimated ina. 80
will be a surplus Of nearly $LVoo'o0o ~
ing the fiscal year of 1897. Duiins ~
fiscal wears 1894 and 1895 the orui,ioI'
expenditures of the government 10
been decreased $27, 282, CSC, as compare
with the fiscal year 1893, ana ~ 20 -
lieved that with the co-opera'ioN ~
congress- further reductions can
made in the future without lInpaH NNe
the efficiency of the public service
GOLD WITHDRAWALS
Continuing, he says:
The large Withdrawals Oh soiu 40 80 rIier
cember, 1894, and January and the earne
part of February, 1896, were que ai. nc