The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1881-12-07


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The requirements Of the sinking fund for
the year amounts to 500, 7S6, ,064 o., which
sum includes u balance Of S4Osl7, 1873 rs,
provided for during the previous fiscal
year. The sum OF 81, ,4S0, POI 05 was ap.
piled to this fund, which left deficit Of
SlG,3O5,S73 AZ. The increase OF the reve-
nues for 1881, over those OF the previous
year, was $2A3j200l TO- 1t il estimated
that the receipts during the present fiscal
year will reach $400,OO0, 900, and the ex-
penditurrs $270,00O, 900, leavinga surplus Of
Sl30 900 900 applicable to the sinking fund,
and the redemption OF the public debt
approve the recommendation OF the Secre.
tiry OF the Treasury that provision be
nude for the early retirement Of the silver
certificates, and thatt the act requiring their
issue be repealed. They were issued in
pursuance OF the policy OF the Govern
ment to maintain silver at near the gold
standard, and were accordingly made re-
ceiyeable for all customs, taxes and public
dues. About sG6,O00,OOO Of them are now
outstanding They form an unnecessary
addition to the paper currency, sufficient
amount OF which may be readily supplied
by the National banks
| In accordance with the act OF February
2S, 1873, the Treasury Department has
monthly caused at least two millions In
value OF silver bullion tn be coined into
standard silver dollars. One hundred and
two millions Of these dollars have been
already coined, while about thirty.four
millions are In circulation for reasons
which he specifies. / concur In the Sec
retary's Recommendation that the provision
for the coinage OF n fixed amount each
month be repealed, and that hereafter only
so much be coined as shall be necessary
to supply the demand. The Secretary al.
vises that the issue Of gold certificates
should not, for the present, be resumed,
and suggests that the National banks may
properly be forbidden by law to retire their
currency, except upon reasonable notice
OF their intention so TO do. Such legisla-
ton would seem to be justified BY the re.
cent action OF certain banks on the oCca.
sion referred TO in the secretary's report.
OttheSl5, ,00O, 900 Of fractional currency still
outstanding, only about $4,000 has been
redeemed the past year.
The suggestion that this amount may
properly be dropped from future state.
ments Of the public debt seems worthy Of
approval; so also does the suggestion OF the
Secretary as to the advisability Of relieving
the calendar Of the United States Courts In
the southern District of New York by the
transfer to another tribunal Of the nImer.
ous suits there pending against collectors.
REVENUES.
The revenue from customs for the past
hscal year was $40, ,sl5,0GT COZ, an increase
Of 81, 1853, 7Bl, ,lO2 over that Of the year pre-.
Ceding Si3, sos, ISL, ,239 Of this amount was
collected at the port OF New York, leaving
S,02j, Ill 1858 Of the amount collected ut all
the other ports Of the country. 0fthissum
Si797T,l37 90 WIS collected on sugar,
and mOlasses; Sg,72S,5O2,47S on wool
and Its manufactures; s., / ~, l53, ,43i on iron
md steel and manufacturers thereof; ST..
O03 SBO,5Sl on manufactures OF silk; Sl0,.
S2j,llj 81 on manufactures Ot cotton Hnl
S6iB, 0Oi;304 on wines and liquors, making
Il tntill revenue from these sources Of Sl3,.
305, ,ST2.0Si.
The expenses OF collection for The past
year were SJ,4i0,3ij 20, an increase over
the preceding year Of $3s7,4lOO4 Not.
withstanding this increase in revenue from
NuHpIbln bNul VIC plUNC'ltHb yFlI tuG HEUrb
value Otthe imports, incluling free g0JlJ,
decreased over twenty-five million dollars
The marked decrease in the value Of un.
manufactured wool Ia Sl4O, S1S, nnh
that Of scrap and ply iron Sl,2lS,0G7 Is
The imports Ui sugar, On the other hand,
showed an increase NJ $7,457,474, Of steel
rails $4,3i5,52l, Of barley sl.l54.204, and Of
steel IN bars, ingots de-, $i,B2B,UiG; con.
trilsted with the imports "a fUllpws
Domestic merchandise, $3.50, ,O2j,D47; For.
eign merchandise, SIS. .4jl 800; total, $OO2,.
37l ,34B Imports Of merchandise, S842,.
6t4,62S. Excess NJ pxpnfts over imports
Of merchandise, $3.50, 7l2.7iS; aggregate Of
exports and imports, sl,5ij,04l,D79
ExPoErs ASD IMPORTS.
Compared with the previous year, there
was an increase oi $40, T3S 0sS III the value
Of exports NJ merchandise, aud decrease
Of S95, 200. IS In the value OF imports. Tie
annual average OF the excess VI Imports Of
merchandise over exports thereof for ten
years previous to June 30, 1873 WIS sIOi,-
sOGOl2, but for the last six years there has
been an excess oi exports over imports NJ
merchandise amounting to 81, i,iSO,BBS, 1903.
an annual average Oi Slg0, ,7TsOi7. The
specific value Of the exports NJ domestic
merchandise was 1910, ,6l6, ,l73 in 1870 and
1888, 427 ,g41 in 1881, an increase Of sS07,-
3O9,474, or l,S0 per cent, The value Of I'm.