Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1879-12-12

Public works, treasury department 8,l2,l5V 90
Wnr department ............. 3,b57HH AZ
Navy NEUTRALITY-SUSPICIOUS.. 500 %
Interior department. ............... 50e,ss5 80
Department 0f rgrtSulture......... $3.50 90
Postal service. .................... 37ll,9Jl 90
Miscellaneous. ....,.......,..;..... 17,s0i,50 rs
Permanent annual appropriations
interest on the public debit. -. Ss,s17,4ih 00
Sinking fund ..............."...... 39,s2s,225 ~
lands. etc ..,..,. b,77s,G0n 90
Collecting revenue from customs 55pnOOO "
Miscellaneous. ACKNOWLEDGEMENTS. i,76G0W 90
Total estimate expenditures, in.
Guiding sinking fund. ...... S27s, 1894 ~
or M estimate surplus Of 1892, 635.H. Exclud-
ing the sinking fund, tho estimated expenditures
win be % 100, 1886, showing surplus Of 81 j.
13iHi S3.
The est mates for the revenue for the next fiscal
year arc based upon the assumption that the In.
creased rceeprs during the pact icw months are
abnormal, and mainly duo 10 tho hlling up of
wants created by recent depression rather than by
the attunl increase of trndc These wants being
supplied, the revenue for next year probably VIII
not be increased beyond the amount estimated.
The estim1icd expenditures for the p0mc period
are based upon the requirements Of existing law
ana The necessary appropriations for public works
w course Of construction The estimated sufplu4
81 $500 ,635 III VIII probably be exhausted by adj
diiionnl appropriations. Should congress In.
crclse the appropriations beyond this limit or re-
peal or reduce existing taxes other sources oil rev.
cnuo must be provided Should this source be dc
does not recommend, he would suggest, q. q
mems Of meeting the deficiency, the restoration
~ moderate dniy on lea and coffee aud ihe levy
ing OF un internal tax on manufacturers Of Opium,
~ hereinafter more iully stated.
coTNs ASD COINAGE.
The operations OF tho mint and astuy offices
during the year, and their condition nj the present
time are exhibited N the report Of the director Of
the mint The report also contains recommends.
lions Tor increasing The Effectiveness of lhnt
branch Of the service, and furnishes information
relative 10 tie nmount Of specie In the country,
aud the production Of the mints ot the United
SHlce, mud statistics brought up 10 recent dates
ui the currency Of the principal countries the
world Of The rates of production OF the precious
mcthlr, and Of their consumption In culu1gc, and in
the nrs aud manufactures.
l'le whine Of tho gold coinage during The year
waH sl0bm,9ls; 9f standard silver dollars, x27,.
~, hOu; Of subsidiary silver coin, t352dt, oil minor
can, tH, i0s; total s6s,3,2,5gg.5O
The director estimates the coin IN Tho country
on oct 81 1870 ~ s3O6, 900, iW 81 gold aud sl2,,
456,3aU Of silver The bullion In tho nints ana
New York aAaay Office at that time awaiting coin
ngc Amounted 10 So n3l $40 Of gold md S. 3S, 1872
0f rllVOf, making tho lGtul amount Of coin aud
bullion am ,Gnl ,061 The estimating Of the specie
IN the country NJ any given time, N nl%aW dii
cult; bnt this estimate npponlS 10 hnvo been care
fully prepared from coinage reports and statistics
OF rUCuinagc, export mud import.
The amount OF gold aud silver annually used In
the arts aud manufactures form no lheuhsideln-
Bile tuclor Ia estimating the production Of the
mnra or the specie available for circulation, and
mn nltemnt has bUUu lnnHu 10 arrive ~ me
nmount4p 20 used from records Of the New York
npYuy uftp, which furnishes the principal pnrt Of
The melalh consumed for these purposes, ma
nom the report Of Tho manufacturers, The gen
cral result while incomplete IN detallH, indicnic
thai the tatnl consumption for purPuscs otlcr
than coinage IN In rXCcs. uf estimates heretofore
mHde In The last annual report the secretary
stated:
II would seem TO be- the best policy for the
present Ia limit the aggregate hRue al auf silver
dollars, bnsnd oil the rntio of sixteen 10 one to
tlufl IL tUtt ua pun plg lp UI hup
Win gold until the price of silver ~ the market
thHl nfsnnr 4 definite lnio To- gold when that
rtio should be adopted md our coins made 70
conforms ~ ~; nhd ihn secretary respectfully lcc
nnlmonda TINT hu bo nihorlhrd 10 dltonllhncth tho
cnlnnge Of the silver dollar when the amount ont
rlHndlnR nhall exceed 85OUo0,m'
lie respectfully Calls the attention Of congress
Ia the importance Of further limiting the coinage
ur tho oliver dollnr The market value of the
bullion In this coin hnH been, during the patt
yenr 20 IL u per cent lcsH thah the market value
Of Tho bullion III the gold dollar.
Gold ana silver were separated IN tho rcrncrles
Of hc mlnih and tho assay oillc0 Mt New York in
tho amount of S2l,7 aAih.H7 In gold, and 2lp,bSI-
t2'.W IN silver n total OF iai ii,n1GNi, inG and
imported bnra wero mndo In tho amount OF Sl9,-
ti0,sl2uS Of gold, aud Si,ndb,Spl of silver, Tho
mnia and nHnny ollCcp generally nro In excellent
condition, and their capacity Ia sufficient 10 meet
the demand for coinage mud bars. Tho gold coin
ngo einee 1882, about which limo II disappeared
from circulation, Inns boon principally IN double
cagicn, but during tho Inst ycnr over per cent. Of
tho gold colu9 struck were In pieces of smaller
denomination. Tho coinage of eagles mud half
eagles VIII bo continued until tho demand for
emnll gold coin IL supplec. Tho coinage of snnd
ard silver dollnrB hns been kept fully up 10 tho re-
qulremcnt of Inv, Notwithstanding tho difficulty
experienced In procuring Hilycr bullion for tho
mlnla at hnu Francisco and Carson NJ market
TAler,
Tho amount Of silver coin OF lcas than dollar
provided for by Inv having been executed, tho
coinage of this money haB boon suspended. Tho
demand for minor coins particularly for the one.
com pieeee-hae been prcnsing. Tho 6nllior Mo'
tho lat year Is estimated by tho dIsector TO DO
naarly ttp,Don,N0, tho production Of gold aud
sySr being equal Tho y Snm t ,msi
IF thu proceeding Year caused by " dmnuIon
In the yield OF tho mlnce of Nevada, which was
not compensated bs increased production In
other plaeea.
the lulul amount OF silver dollars coined to
Nov I, isin, under tin net ot FEB ", 1875 wns
Sii, 4ub2 4, Of which SiA,rnl, noe WINS nrtrcunlon
Hnd the remainder, SE,2 3ijs, III the treasury ~
tint time Noctinrt huH been spared Is put Ibis
com III circulation owing 10 ts limited coinage
Il has been kept NJ pnr, hui ~ free coinage would
soon rtduee IT, current value To its bullion value
ana thus establish n single silver standard, line
inevitable retult would be Ia exclude gold coin
from circulation, II n impossible Ia ascertain
what amount Of silver coin, bafCtl upon The rntio
of sixteen nj silver Ia one at gold, cHn he main
tnlnod nj par with gold; hut II II manifest that
the can only be done 10y the government holding
IN IT. NraltH the great body Of the silver CON, II
would Reem Tint nothing would be gained by an
unlimited eotuNgc uncAn u la desirable 10 nlcar
ufo I'LL Naupa by the silver standard Ihe tccre.
tAry cannot too strongly urge tho importance a
adjusting the coinage rates pt the Two metals by
treaties With commercial nHtions aud, until this
can h3 done, ut limiting the coinage OF the silver
dollar Ia such u sum; for, In tho opinion of con
rrss thts would rnnblc the department 10 readily
maintain The standard dollars uf gold mud silver
al par With rnch other
mn NATIONAL BANKS.
The report of the comptroller Of the currency
gives complete statistics relative the opr rntions
Of the national banking system, itum It's uts ant.
Aatiun until The present time; tho number Of
hnnbs III operation "a NCL3, " tlm present year,
the date ~ their last reports Mna 2nis, aud tho
aggregate capital, SialNNoAUn; pnrpln~, SUhisA,
taS; individual deposits, .iio,i Gais, fRcetc, ~.
elndthg tniicd States coln aud certificates, Si9,.
ltAlalss, logul tender notes. Including United
states certificates, uinc lld; loHns, 500 alui.
Tho total circulation outstanding On MY. /, was
9 ,nlsi,ils Among the sub Gets discussed In the
report arr the rotations Witch hayr oNis,
rd hrtwpen the national hunke aud
the government IN the resumption oi
specie payments aud In the lnndinr Of The public
debt. III both OF these important financial opera.
tinne theru operation OF tho national hanlte haa
hern ~ essential srrylcc,to the government, Thn
hanks, in the aggregate, have constantly KEPT Oh
hand us reserves nearly ourthirh III the cntlra
flf taUp1 tNulkr nat