The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1896-12-24
Mr.. Carlisle, in Discussing the FL
nanc1al Question, Says That the
Greenbaclks Should Be Retired
He Repeats III. Former Rec ON
sss1 mendntIons for Legislation with
8 Respect to the Nations Currency.

thirty year bonds, Sill ,166, 246 and from tn
issues of per cent bonds in liquidation Q
interest accrued on refunding certificate
converted during the year $4,13O, making
fiscal year 1895 the receipts fer 1896 In
creased sis, 1O2.2O5, Of which the followin
are the principal items Of increase; Gus
TOMS $7,S63,134; internal revenue, So, 341
1872; profits on coinage, bullion deposited
ETC., $1,256,512; postal service, $5,512, OSG
There Is shown to have been q decrease Il
the ordinary expenditures Of $4,O15, $50
The revenues OF the government for til
current fiscal year are thus estimated upo1
the basis Of existing laws:
From customs j. $148 100000
From internal revenue. ....... $50 1000, 0O
Inll sources. 100000
From postal service. =. ..... IS, 1913, l2
Total estimated revenues 4. $40. 100, 70
The expenditures for the same period ar
estimated a: $472, 293, 12O, leaving an esti
mated deficiency for the year Of s64, 500, 900
1t is estimated that upon the basis of ex
listing laws the revenues for the fiscal yea
1893 will be: a ,0s3 rs
From customs Z. s. I. $50, 600 OO(
From Internal revenue. {. $1,000. 155, OO(
miscellaneous sources. $685.. -. 90, 900, OK
From postal service ...5.. 96, 90, OK
Total estimated revenues. .S4o1, 2o7 OK
t+,a f- 4 h. -.
Since March /, 1893, United States bonds
to the amount Of $262, 315, 400 have been
issued and sold for 5000, 4S1 1904 in gold
while during the same time notes have been
redeemed in gold to the amount Of s457,.
OBS, S55, and on the first day Of December
1896, there was free gold in the treasury
to the amount of $131, 51O, 1852. Since the
resumption of specie payments on the first
day Of January, 1879, United States notes
to the amount of $40. 49O,987 and treas.
ury notes issued under the act Of 1890 ia
the amount Of $50, 42s, 1881, making $685..
919,S6S In the aggregate, have been re.
deemed In gold, and since Aug. i, 1898,
treasury notes to the amount Of S35l21..
#l1z nave been cancelled and retired from
circulation 85s, NOE q
Il Making no deductions on account Of the
loss or destruction of notes, the total
amount of United States currency in exist
ence on the first day of December, 1896.
was S46s. $685. 96, consisting Of $s4e, es1, Ole
In United States notes and S121. 677. go a
treasury notes of 1890, and. consequently
1t appears that the entire volume Of such
notes has been once redeemed in gold and
more than sos, 561 900 have been twice re-
deemed 8. E's.,'s -
The estimates OF appropriations required
Ior the same period, exclusive Of sinking
Juno, amount ,u to s466 946. 047, which leaves
an estimated defc cheney for the year ending
June 80, 1895, Of $40, 1890: These est
mates OF receipts and expenditures. the
secretary says, are made on the assumDtion
mat there will be no substantial chs nee in
existing business conditions, and that fhe
present scale OF public expenditures will
not be reduced But IL our ordinarv hmsi.
ness activity should be resumed and tho
consumption of articles subject to taxa
ton should Increase to Its normal propor-
f1ons, there may be in fact the secretary
says, no deficiency in our revenues. :
In his review Of the reports OF the bu.
reau ofhcers OF the department. the secre.
tary pays q high compliment to the reye.
nue. cutter service, and says: Is
There has not been a single wear - +ba
history OF the service when. with as oId
ana badly adapted class Of vessels and de-
pleted personnel, its resources have been so
severely taxed, and vet an incompatible
record .sso OF service rendered is presented.
IL: The secretary recommends that enlisted
men OF the revenue cutter service who have
{ Deen or may be wounded or disabled wh,le
n the actual discharge Of their dnties
pc entitled to be placed upon a nension
list, on the same footing as enlisted men Of
the navy. 800 - =
As to the fur seal fisheries the secre.
Iary states that the seal herd is threat
sened With rapid extermina ton. unless
changes are speedily made in the Psris
award resolutions, and he expresses tha
nope mat the respective governments NAV
agree upon the needed changes to effectn.
any preserve the herd and protect this vain.
of mankind - - 5t = s use use
The secretary In reviewing the VOL Z,
the navigation bureau, renews his recon-
l - En- lion Tor the repeal OF the law Far.
~, luooings american registry to vessels owned
~ americans and engaged in the foreign
.au' 3uniess bullt In the United States.
me Currency Question. 7%1sS #
QiScnSSf0n nf
me secretary makes an exhaustive arrow
1uV,t, IN favor OF the retirement from cir
cu 1Ion OF United States and treasure
notes, IN the course Of which he saws. -
UT experience since the resumption OF
specle payments has SO thoroughly demon-
sl.ated tne lmpolicy of attesnptinglto main
tain the circulation Of these notes as . nor
enanent part OF our currency, that further
argument upon the question seems ia ha
unnecessary, except for the purpose Of again
pressing the subject upon the attention of
congress and urging the prompt adoption
" sucn measures as will, within reason
abie time, eliminate this element Of weak
ness from our system # 81 l455Es5 jE#l
II Inc use OF these notes as circulating
medium scompels the government ia nrn-
vide large gold reserve for their current
redemption, and as they are reissued when
! redeemed, such reserve must be replenished
from time to time in order to AFFORD the
public q reasonable assurance that no de-
fault Will be made in the discharge OF
our public obligations The difficulty OF
procuring gold for this purpose is greatly
increased at the very times when It's pos
session is most necessary and, consequently,
the government being at such times entirely
deprived OF gold receipt from the ordinary
sources ,of revenue. Is compelled to Issue
and sell bonds upon terms less favorable
than might be- procured under other cir
8cumstances The annual interest upon the