The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1875-12-09
DEPARTMENT REPORTS.
The Finances-AnnuaI Report of Secre-
tary Bristow.

The Finances-Annua1 Report of Secre-
tary Bristow.
The report CT the Secretary of the Treasury
on the state Of the finances for the fiscal year
1875. ending June 3d. embraces estimates of
receipts and expenditures, and plans of reve-
nue.. Up TO that date the total revenues for
the year were 1888, 900, 051.10, and the 9x-
pendltures 1914 1923, 392.84. The Secretary
estimates that the revenues for the current
year will fall short by the amount of SO, 285,-
O909 "a of providing for the appropriations
made BY Congress. The reduction of the
public debt made during the year is shown to
have been $14, 1893, 514S4.
The Secretary makes an earnest plea for fru-
gality and rigid economy in administration,
faithful collection of the revenue, and the re-
duction of the expenditures to the lowest point
demanded bv the necessities of government.
Upon this subject he says: Increase of public
expenditures in time of great prosperity and eX
trsyagance is accomplished by an easy process;
but corresponding reduction when the reverse
comes can be brought about only by the closest
vigilance and most determined resistance to ev-
cry appeal for al preparations not required by
the existing necessities of government. Noap
preparation of money should be made without
reference to the probable amout of revenue to
accrue within the year in excess of existing OBJ
legations and liabilities"
The Secretary states that the amount
which appears upon the books of the Treasury
as actually applied to the sinking fund within
the past fiscal year is $25, ITO, 400 For the cur
rent fiscal year it is estimated that $50, 140 GA
must be applied to the fund. To meet this re-
quirement call was made on the LIST day of
September for $4,000, 900 6 per cent $50
bonds and on the 18th day of November a fur
ther call for S. 000, 900 bonds of the same
class The balance necessary to COM
plete the total amount for this year
win be called from time to time in such
manner as to cause the least disturbance of the
market and it is hoped that the whole amount
will be presented for payment within the year. y
TheSecretary reviews the operations of thesyn-
dictate for refunding the national debt. He states
that the funding of the five hundred millions
of six per cent. bonds into those bearing five per
cent. interest has been accomplished, thereby
saving an annual interest to the Government of
five million dollars The success which has at
tended the refunding of $178, 548, 800 of the
the steady Improvement of the national credit,
induces the belief that the remainder of the six
per cent. bonds can be refunded, within rea-
sonable time, III accordance with the provisions
of the acts of Congress-"
The Secretary takes strong ground in favor
of an early resumption of specie payments.
Upon this subject he saws:
Every branch of industry and all classes
of people are alike interested in the restora-
ton of a sound and stable circulating medi-
UNI, the laborer and producer no less than
the merchant, bondholder, and banker. The
present unequal and fuctuating currency
Expresses and Injuries laborers and
producers, who constitute a great ma
jority, far more than it effects inju-
riously dealers in money. The diff
ference between gold and our paper currency
is margin upon which experienced money
dealers do business, and it is this that gives
the opportunity for artificial combinations