The herald., 1895-12-17
The NATIONAL FINANCES
Secretary Carlisle Submits His
Annual Report
EXISTING REVENUE LAWS
Are Ample TO Produce the Needed
National Revenue
Inc Secretary Favors the Retirement Of the
nb.rl .
EXISTING REVENUE LAWS
Inc Secretary Favors the Retirement Of the
dreenbacks and the Issuance OF Low
Rate Treasury Bonds

Associated Press specisl Wire
"A>HlNGToN, Dec. 16.-Secretary Car.
l sic annual report of the state Of the
finances was sent to congress today. II
SHOWS that the revenues of the government
from all sources during the last fiscal yerr
amounted to 390.373,2O3. The expendi-
tlre during the same period aggregated
Si33,l7s,S26, leaving a deficit for the
year of $2,S05.223. AS compared with
the fiscal year 1894, the receipts for 1895
include Sl7 7,15O,70O, although there was
decrease OF $ll ,329.9s1 in the ordinary
expenditures, which is largely accounted
for by reduction of 81 ,134,O ,O55 on sugar
bounties. The revenue for the current
fiscal year is estimated Upon the basis of
existing laws at $431 ,9O7 .4O7. and the ex-
pendtures at $44s,9O7, ,4O7, which will
leave deficit of S17,OOO,OOO. For the
coming fiscal year ending June 80, 1Se6.
the secretary estimates the receipts at
$464,793,l2O and the expenditures at
S457 1913, or an estimated surplus of
$6,9OS.926. The secretary states briefly
the facts concerning the issues of bonds
during the year. the particulars of which
have already been reported to congress.
SEALING OPERATIONS.
The report shows that the Bering sen
patrol fleet during the last season boarded
and examined ninety-four vessels, five of
which were engaged in sealing. The num-
Der OF skins actually counted was 81, ,216.
Many of the vessels in the revenue cutter
service, the secretary says, are very old
and nearly unseaworthy, and he recon-
mends that four new ones be provided 10
take the place of the Mclean, the Craw-
ford, the Seward and one for the port of
New York.
The secretary says the government of
Great Britain has refused to renew the
sealing regulationg ag eed upon for the
season of 1894, providing for the sealing
up of arms, which leaves the question of
the possession and use of arms to be de-
termined wholly by the Paris award. The
total catch of seals at sea in he award area
during last season was 56,291, as COM
pared with 81 1888 for the season of 1894.
The catch on the seal islands was 3 900.
A careful count of all of the seals on the
islands last year makes the number little
over 200. 200, decrease of over one-half
since 1891.
CURRENCY QUESTIONS
The secretary devotes a large share of
his report to discussion of the condition
of the treasury and the currency. in the
COuTSc VI WHICH, Ho uidheS I'LL cADdu6tlVe
argument in favor of the retirement of
greenbacks.
The cash balance in the treasury on De-
cember l, 1895, he says. was $177 .406,-
$50. being SOS, ,O72, ,420 in excess of the
actual gold reserve on that day, and $77,-
406,3S6 in excess of any sum that it would
be necessary to use for replenishing 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 he government to
discharge all of it's currency obligations
during the present fiscal year and have
large cash balance at it's close without i'm.
posing additional taxation in any form
upon he people, but holds to the opinion
here 'ofore expressed that the secretary OF
treasury ought always to have authority to
issue and sell, or Use in the payment of ex-
penses. short time bonds, bearing a low
rate of interest, to supply casual de-
hcienc .es in The revenue.
With u complete return to the normal
business condition of the country and q
proper legislative and executive supervi-
sion 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 established and