The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1895-12-17
REPORT OF CARLISLE.
Annual Statement Of the Sccrctory
Of the National Treasury.
EXPENDITURES EXCEED REVENUES.
Reasons Given for the Retirement Of
Treasury Notes,
SHORT TINE BONDS NEEDED.
The Financial Foley Must Change win,
Change Of Conditions Tho
Bond Issues.
SHORT TINE BONDS NEEDED

WASHINGTON. December Is.--Secretary
Carlisles annual report on the state OF
the finances was sent to congress today
II shows that the revenues OF the gov,
eminent from all sources during tho last
fiscal year amounted TO s3eo,s73 ,2O3 Tn,
expenditures during the Same period ag
gregatcd Sls3. IFS, i26. leaving a deficit 70,
the year of s,a.s05.2es
As compared with the fiscal year $50
the receipts for 1895 Increased siI 705
although there was a decrease of 81, s2a
gSl In ordinary expenditures, which 1.
largely accounted for by a reduction o
Sli15i.055 on sugar bountics.
The revenues for the current fiscal yea
are estimated upon the basis OF existin,
laws at siSl,gO1 iGT and the expenditure,
at siis, e05iOi, which Will leave a deficit o
sl7 10000.
| For the coming fiscal year ending Jun,
so 1897 the secretary estimates the receipts
at 1854, 793, i2o and the expenditures at s45i.
SSl,lg5. or AN estimated surplus of So, pos,
Dps
The secretary states briefly the fact
concerning the issues Of bonds during tn
year the particulars of which have al
\ ready been reported TO congress.
| The report shows that the Behrlng SC
patrol fleet during the last season board
cd and examined "a vessels. 81 of whic
were engaged in sealing. The number o
skins actually counted was 3l.2l6 Man
of the vessels IN the revenue cutter scr
vice. tho secretary says, are very old an
nearly unseaworthy. and he recommend
that four new ones he provided to tax
the places OF the McIane. the Crawfon
the Seward and one for the port of NV
York.
The secretary says that the governmen
OF Great Britain has refused TO rene,
the sealing regulations agreed upun 10
the season of 1874, providing for the seal
ing UP OF arms, which leaves the quostio
OF the possession and use OF arms To b
determined wholly by the Paris aware
The total catch of seals at sea IA n
award area during the last season wi,
sb,%ll as compared with a. $50 for the sd.
son 81 hsf. ahe catch on the seal isard'
seals on tho islands last year makes tn.
number a little over 100000. a decreno OF
aver one-hal since 1891. The secrtary
deVotes large share OF his report 10 d
discussion of the condition Of the trasury
ana me currency. in the course of which
ne makes an exhaustive areumdt in
iuNor oil Inc retirement OF the groe1tncks.
'The cash balance In the troasry on
me hrst day OF December 1855" h says,
was N0.1o6 1856. being S9s.072,i20 intNcrss
Of me actual gold reserve on that as and
}ltlo,3M in excess OF any sum hat ID
would he necessary to use for replaishiny
tnHt iund IN case the secretary Should
~ any tllnc he able to exchange crrrncN
for gold. There is Therefore norc,eoi
TO Doubt the ability of the government u
ulscharge all its current obligation durin,
the present fiscal year aud haven laru,
cash BALANCE AT Its close without nposir,
additional taxation In any form pom tie
people; hut adhere to the opinln herr
toiorc expressed that the secretav ought
always To haN" authority TO issu,ind SUI
or use IN the payment of cXpense, ahor-
time bonds, bearing a low rate . inte-
est, TO supply casual dcficicuchsin TIE
with complete return 10 the iornal
business conditions of the countryand a
proper legislative and executive suerds-
ION oyer expenditures, the rcvcnu lays
now IN force will, In my opinion, yid an
PIE means for the support of thepullc
service upon the basis now estaish,l:
and upon the assumption, whichsccns
TO be justified that the progress Nv )e-
ing made toward the restoration ( our
usual stnte of prosperity will ltlnno
without serious interruption. il esi-
mated TINT there will be n surps OF
nearly SL0m.O00 during the fiscal 20 1877.
During the Years 1891 and 1898 thorii-
Eary expenditures of the eovornmofhaye
been decreased s27 2S2. 6lC.20, as cDnafcd
With the fiscal year 1893, and II he
lieved that with the cooperation ICON
Efess further reductions can he ME In
the future without impairing IN en-
cheney OF the public service"
Continuing he snys: "rho largoith-
drawals of gold in December, 1874, ID in
January and the early part of FetRry.
1888, were due almost entirely to a ling
OF apprehension In the public mind, hich
Increased IN intnnHity from day day
until IL nearly reached the proporus ~
a panic, and n was evident 10 awhO
} were familiar with the Iituntion u I'M
less efectual steps were promptlylkon
to check the growing dlstruat the fein-
mont would be compelled within f,w
days 10 suspend Eolt payments Hfdrop
to a depreclated silver aud pap,r stlard
More than $4,000 01 Of the nmoufNith-
drawn during the brief period laauen
, toned WAS not demanded Tor eHn, b u
was taken by people who Ind come
alarmed on account Of The Criticl0Wl-
ton Of the trcagury In its rclationo the
currency of the country. Tho purse Of
2. 100000 ounces of gold followed being
In the contract that not less tn one
half Of the gold Wns TO be procurotbroad
but AFTER large part OF the hed
been furnished from abroad. thsccre-
tRfN. IN order 70 prevent disturice IN
the rates OF foreign exchange at critical
period ana AVOID condition whlWould |
force gold exports and cunseQuc with
df'awals from the treasury. acqulcd Ia "A
departure from the liberal tcrmDf the
contract that onc-half of the coshould
he procured abroad, and acccpi'icpos-
lis Of gold then held In this cdry TO
complete the delivery. Ordinary ldence
demanded that the success Of thdan 10 /
protect the treas ury against wiu-awdls
should not b. endangered bv insisr upon
IA strict compliance with all the ais or
the contract especially as theoVern- |
ment could sustain no loss and whole |
. amount OF gold stipule ted for watcurod- |
The amount OF bonds issued underis con- |
tract was t62. BIZ 400 ana the aunt OF |
} gold received was &c. ZIG. "a g." |
The beneficial effects Of this Traction. |
, tho secretary says, were felt imiiately. |
not only In this country. but every
other having commercial relsis with
ma.
confidence IN our securitiesno con-
tinues. was at once restoredh these |
encouraging Indications Of 'feaslng |
? prosperity still continue and II reason
E ably certain that " our prog - n.y.
checked by a repetition OF larfeiuahnH |
upon our resources or by allure 10 |
! meet the just expectations OF people
4 IN respect To the reformation 1ur nscsi
! system. we are entering upot area OF
1 material growth and dcyepeht not
: surpassed in our history. Tho w OF ne
e | existing situation Is, oweVeyhsiAlus
y menaccd and our further prGs tv"hi,
a couulete restoration OF cdtncr ana
. | prosuerity Is seriously impedlE inc ut.
( | fects IA our currency laws flne upubt
: and uncertainty still prev's w me
| public mind. especially abr eohcefh-