The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1895-12-19
CARLlsLE's VIEWS.
Iecr~tary Of tho Treasury Submits His
ttTTS % ! . Annusl Report. sfy<$ $s& v n

which was sent tn congress MONDAY.
It shows that the revenues Of the govern
ment from all sources during the last f'scel
year amounted to $3.50. 81. 203. The expend!-
lures during the same period aggregated
$4a3.17S 1926. leaving deficit for the year OF
42.S06,223 As compared with the fiscal
year 1894 the receipts for. 1886 increased
$l7. 81. 705, although there was decreaae ct
s31 49, S1 In the ordinary expenditures.
which Is largely accounted for by reluc-
ton Of sll.1a4.oss on sugar bounties. The
revenues for the current fiscal year are
estimated upon the basis Of existing laws
mt $4al. o07.41. and the expenditures at &44a.-
9o7. AT. which will leave aideficit OF ill.,
10000. ~. ."E - .:cr2.~-
For the coming fiscal year. ending June
20. 1897. the secretary estimates the re-
ceipts at &464, 793. 100, and the expenditures ut
s467. 1854, 1919. or an estimated surplus OF $6.-
90e.0G. The secretary states briefly the
facts concerning the issues of bonds during
the year. the particulars of which have al
ready been reported to congress-. @< ry~..H
.'With a complete return to the normal
business condition Of the country and a
properlegislative and executive supervision
over expenditures. the revenue laws row
in force will in my opinion yield ample
means for the support OF the public services
upon the basis now established: and hro1
the assumption. which seems to be Justified.
that the progress now being made toward
the restoration OF our usuaf state Of pros
perity will continue without serious Inter-
ruption. it is estimated that there will he
surplus Of nearly 100000 during .ae
fiscal year 1897. '>.-
The secretary states in detail the differ
emit bond transactions entered into since
the adjournment Of the last congress and
states that the contract entered into for
the last issue of $62.315.400 of four per cent.
bonds was fully carried out by the syndi-
cate to whom the contract was Eiver and
that 1.-The beneficial effects Of this ira rs
action were felt Immediately not only IN
this country but in every other having
commercial or financial relations with our
people," But he says the safety of the
existing situation il constantly menaccd
and further progress toward a. COM
plete restoration of confidence and prosper
ity Is seriously impeded by the defects
in our currency laws and the doubt
and uncertainty still prevailing In the
public mind, especially abroad. con-
corning the future monetary policy
of the government. These difficulties
he proposes to remove by the re-
tirement of the greenbacks and the extern
sion of the national bank system as in
Dictated in the presidents message. He
controverts the convention that surplus
revenue would extricate the country from
its difficulties and states:
mo surplus revenue. however. large.
could extricate US from our present dim
future unless; II should be required to be
paid in gold under a system which would
exempt the government from the obliga-
| ton to furnish the gold when demanded to
| be used In making the payments: and It
| Is scarcely necessary to suggest that such
United States notes and treasury notes are
kept In circulation and are redeemable in
gold by the government itself on presenta-
| tion.'
| AS temporary remedy for existing con-
ditions he suggests that authorization be
given to the secretary of the treasury Ito
issue from time to time bonds payable in
gold. bearing interest at q ratio not ex-
| cecding three per cent. per annum and
having long time to run. and to exchange
the bonds for United States notes and
treasury notes upon such terms az raay
| be Emost advantageous to the government,
| or to sell them abroad for gold whenever.
| in his judgment. 1t is advisable to do SO
| ana use the gold thus obtained in redeem
| ing the outstanding notes"
! The secretary also favors the passage of
| a law allowing national banks to establish
branches in small towns. The secretary In
| closing his report says that it Is not prob
| able that any plan for the permanent re-
rirement of United States notes and treas
ury notes will be adopted that will not re-
uuire considerable time for Its complete:
execution, and he therefore. urges uporl
future issues of such notes or OF national
bank notes OF less denominations than ten
| dollars thus making room in the circula-
| ton for silver coins and silver certificates
l. Of small denominations. This, he say9.
would increase their use among the peo-
pie and prevent their frequent return to
and accumulation in the treasury.
Among the minor topics treated upon In
the report are a reorganization of customs
| districts; more stringent regulations to
prevent infection from yellow fever from
the port of Havana (Which Is spelled
"Habana" in accordance.w with the mandate
of the board of geographic names); he re-
news the recommendation for u retiring
provision for officers Of the revenue
marine service; he commends Commission
er Chamberlain's recommendations MS to
the revision OF the navigation laws CT the
United States, and asks for an additional
assistant secretary Of the treasury to take
charge Of the consolidated marine bureaus
of that department. He commends the
manner In which the work Of patrollinx
Behring sea aud the. North Pacific ocean
for the protection of seal life is carried
ut under the Supervision Of. Capt Hooper.
Of the revenue cutter Rush, and refers to
The fact that notWithsta ndinE sthe prepon.
lie rarre Of British: Canadian ves1cis nj thu
sealing feet, the British government fur
Ok aa, a ssls sne 4. ss.f II 4
vessel, he says. was stationed for tho
greater part of the time ut Sitka AMI
Unalasi:as and took little or no part In the
patrol otner than to recetvs British ves-
sells scs::..d ny sur fleet.
Further commenting en- the failure Of the
| British government TO carry out in good
faith the Paris award, the secretary states
that the ''use OF firearms In fur seal fish
ing In Bel,-ing sea was Erohibited by the
Paris award regulations and the legisla-
ton Of the respc. tive governments. passed
10 enforce the award. AZ tho award regu-
lations merely prohibited the use Of tlrs-
arms and din not make their possession
Illegal, It. was agreed by the respective
governments, in 1884. that all sealing ves-
sells before, entering Behring sea should
nave their nrearms secured under SEAL
This provision worked satisfactorily dur
ing the season of 1874. but the British gov
eminent refused to agree to such an ar.
ranEement for the season ~ 1HY5. A'legtrE
that 1T had not In practice worked for the
protection of British sealers from inter-
ference, as her majesty's government had
hoped would have been the case.
This refusal leaves the question OF the
possession and use OF firearms by British
vessels to be determined wholly by the
Parts award and the legislation enacted
hv Sho Rrltiah government for making