San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-12-21
CARLISLE'S REPORT.
THE LAST MESSAGE TO CONGRESS
OF SECRETARY CARLISLE.
Raises Howl Against Protective Tariff
For Government Revenue aud Advises
The Retirement of U. s. Notes.

the state of the finances. shows the
revenues of the government from all
sources to have been S409, Az. 40S, and
the expenditures S434, 67S,654, which
leaves a deficit for the year ended
June 80. 1896, of $50, 2O3,245.
The receipts of the government for
the current fiscal year are thus esti-
mated upon the basis of existing laws
at S407, $4,000.
The expenditures for the same pc
riod are estimated at 1928, 107.
leaving an estimated deficiency for
the year of S64 100000.
1t is estimated that upon the basis
of existing laws the deficiency for the
fiscal year 1898 will be S45,I1S9T0.
The secretary says:
1T is believed that a careful con-
sideratiOn of the existing situation and
a constant reliance upon improved
business conditions in the future, full
ly justifies the conclusion that the es-
timated deficiency for the current
year and for the year 1898 will not be
really attained. But, however, this
may be, the deficiency in the treasury
cannot be overcome for considera-
BILE time, in order to allow the govern
ment to meet all it's ordinary obliga-
tons. What is needed at present is
not more taxes but more economy in
expenditures"
On the subject of tariff in this con-
nection the secretary says:
$50 long as the governments inn
port duties and internal revenues eX-
ceeded it's expenses the fact that pro-
tective duties were destructive of rev.
enue, although clearly apparent to all
who observed the practical operation
of the system, did not attract the at
tention of the public generally but the
situation has been materially changed
since 1892, and hereafter it will not
be possible to sacrifice revenue to pro-
lection without seriously embarrass-
ing the fiscal affairs of the govern
ment by depraving it of an income
necessary to defray it's expenses. If
the major portion of this income is
hereafter to be deprived from taxed
on imported goods, these taxes must
be made the basis of our legislation
and a well regulated revenue system
must be substituted in its place and in
my opinion this can be done without
material injury to any trade or indus
try now existing i'm the country"
The secretary calls attention to the
growth of our export trade to show
that American industries can stand
foreign competition and gives figures
to show that the prODOrtiOn of our
population to be benefited by protec-
ton is but 61b saying Of the remand
err: mo tariff duties can affect this
class except bv increasing the cost Of
many commodities they are compelled
to buy for use"
For this reason the secretary says:
"a movement for the imposition Of
higher duties upon imported goods
cannot be regarded as justifiable upon
any grounds usually urged in support
of such measures by the advocates
of protective theories
In his discussion of the currency
question. the secretary makes an eX-
haustive argument in favor of the
retirement of United States and treas
ury notes, in the course of which he
said: "Our experience since the re-
sumption of specie payments has so
thoroughly demonstrated the impOlicy
of attempting to maintain the circu-
latiOn of these notes as permanent
part of our currency that further ar
guments upon the question seems to
be unnecessary except for the pur-
pose of again pressing the subject up
on the attention Of congress and urg-
ing prompt adoption of such measures
as will. within a reasonable time, elm
nate this element of weakness from
our system.
'aThe use of these notes as a circu-
lating medium compels the government
to provide large gold reserve for
their current redemption and as they
are reissued when redeemed such re
serve must be repleIishad from time
=. t;,,,o IN, or,lar 70 of XII