The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1896-12-24
OUR M Y Y a Its.

REPORT PREsEN z Ed BY THE SEC RE..
TAR Y OF I'll E TREASURY Y.
MIR. Carlisle, In Discussing the FL
nnncial Question, Says That the
Greenbaclxs should Be- Retired.
He Repeats His Former RECON-
mendnttons for Legislation With
Respect to the Nation = Currency.
Washington, Dec q -7Secretary Carlisle,
In his annual report on the state OF the
finances, shows the revenues sof the gov
eminent from all sources to have been
$4O9, 475,4O8, and the expenditures $434-
67s, 6;4 which, leaves a deficit for the year
ending June 30, 1896, Of So, 2O3, 245. In adj
dition to the ordinary revenues collected
during the year the cash in the treasury
was increased by the following sums:
From the sale Of 500, coo, 900 4 per cent
thirty-year bonds, $11, 166. 246, and from the
issues OF a per cent bonds in liquidation Of
interest accrued on refunding certificates
converted during the year 81, $780, making a
total Of Sill, tx, $40. AS compared with the
fiscal year 1895 the receipts fer 1896 In
creased SIS, 102. 205, Of which the following
are the principal items Of increase Gus
toms, 81, 863, 1874; internal revenue, $3,3 5
1872; profits on coinage, bullion deposited,
ETC., $1,2565 12;; postal service $5,512 ,OSO.
There Is shown to have been decrease in
the ordinary expenditures Of $4O15, $50
=; The revenues OF the government for the
current fiscal year are thus estimated upon
the basis Of existing laws:
From customs. .... -. 14S 600, 900
From internal revenue. .......s. $50 900, 600
Miscellaneous sources. ........ 20,OO0,0OO
From postal service. S9,793, 12O
Total estimated revenues. $40, 793. 100
The expenditures for the same period are
estimated a: $472, 293, 100, leaving an esti-
mated deficiency for the year Of s64, 800, COO
s It is estimated that upon the basis Of ex-
isting laws the revenues for the fiscal year
1898 will be:
From customs = y. 81 80 GOO CpOf
From internal revenue :, I. $. 81, 600 600
& Miscellaneous sources. ~. 2OOOO 600
From postal service sc, 227, 076
Total estimated revenues. /. . 421 90, O76
Issue of Bonds.
" Since March L, 1893, United States bonds
to the amount Of $262, 315,4 400 have been
issued and sold for 5000, 4s1, 1914 in gold,
while during the same time notes have been
redeemed in gold to the amount Of $457,-4
OBS, 1916, and on the first day Of December.
G to the amount Of $131, 51O,352 Since the
resumption of specie payments on the first
day of January 1879, United States notes
to the amount Of $47O 49O,987 and treas
ury notes issued under the act Of 1890 to
the amount Of s6,42s, ss1, making $780,
9l9,86S In the aggregate, have been re-
deemed In gold, and since Aug. i, 1893,
treasury notes to the amount Of $40, 121,-
w have been cancelled and retired from
circulation. tIs, 5#
& Making no deductions on account Of the
loss or destruction Of notes, the total
ence on the first day Of December, 1885,
was $468 1865, 296, consisting Of $346, 6S1 ,O16
In United States notes and $121 677 $50 IN
treasury notes Of $780, and, consequently.
It appears that the entire volume Of such
notes has been once redeemed in gold, and
/ more than S9S, 56l, 600 have been twice re-
deemed. laF31.
The estimates Of appropriations required
for the same period, exclusive of sinking
fund, amount to $466, 946, O47, which leaves
4 an estimated deficiency for the year ending
s1une 80, 1898, of $45, 1880. These esti-
mates OF receipts and expenditures, the
secretary says, are made on the assumption
that there will be no substantialachange, in
existing business conditions and that the
present scale OF public expenditures will
not be reduced. But ii our ordinary busi-
ness activity should be resumed and the
}
ton SHOULD increase to its normal propor-
lions, there may be in fact, the secretary
says, no deficiency in our revenues.
In his review of the reports OF the bu-
reau officers Of the department, the secre-
tary pays q high compliment to the reye.
nue. cutter service, and says: -55
There has not been single wear IN Tho
history OF the service when, with It's old
and badly adapted class Of vessels and do
pleted personnel, It's resources have been 30
severely taxed, and yet an incompatible
record g. OF service rendered is presented.
0 Inc secretary recommends that enlisted
men OF the revenue cutter service who have
I. peen. or may be wounded or disabled while
& II the actual discharge of their dntins II
pc entitled to be placed upon a pension
tist, on<the same footing as enlisted men Of
the navy. ziSs 80 .s - - r =
As to the fur seal fisheries Tho soora-
tary states that the seal herd Is II Raj al.
%ened with rapid determination. unlnsa
changes are speedily made in the Psris
award resolutions, and he expresses tha
nope Inat the respective governments NAV
agree upon the needed changes to effectu-
ally preserve the herd and protect this yaIn.f
able industry and It's product for the msa
of mankind 55&S - = use
The secretary In reviewing the wnrk -
the navigation bureau, renews his recon-
menaaIlon for the repeal Of the law for
Nv nsaz american registry to vessels owned
traoe' unless built in the United States -
Ihe Currency Question. 5
, II ~ MS discussion Of the currency question
the secretary makes an exhaustive arg,,
men1 N favor OF the retirement from Cir
not asloh =. " =, united States and treasury
notes. IN the course Of which he SAYS :.5
ouf experience since the resumntion If
specie payments has SO thoroughly demon-
strated the impolicy of atternptinglto main.
IAN tne clrcula ton OF these notes as per-