The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1881-12-16

hi6it of the state of the finances and the con.
dition of various branches of the public serv-
ice administered By that department, The
ordinary revenues from all sources for the
fiscal year ending june 10. 1881. were: From
Customs, $l96, l59 6l6.02; from internal reve-
nue., Sl35, 264, 1881; from public lands, N.8l..
national banks, s, l6.ll5.l2; from repayment
of interest by Pacific Railway companies,
$50 &s3.so; from sinking fund for Pacific Rail-
Soesp s ess sse% eo%
fees consular, letters patent and lands 81
PA ,9Ss99; from the proceeds OF sales OF Gov
eminent from p .Ss 5 On
trict Of Columbia, nOls. 1872 from miscel.
laneous sources, 81. sO6, SSO.2S. Total ordinary
receipts, $500, s,ssl.51.
Rod were: Civil expenses, 81, 81, lT.l9; for
foreign Intercourse, 81, 093 95l.92; for the Indi-
ans, ISL, l6l.09; for pensions, $4,000 2IS.6s:
i0r s me % harSn observation-disclosures and arsenais
sc, 466. 46055; for the naval establishment. In
Guiding vessels, machinery and improve
ments at navy yards, Si5, S66. S766; ior INSECT
ings, ight-house and collecting the reve-
nue., 81 ,S7, 5000; for expenditures on &C
count of the District of Columbia. SIS 9l2 0S I;
for premium on bonds purchased, sos. ~. $40.
Total ordinary expenditures, $3.50 ~, 6659,
leaving surplus of revenue Of 500 yO69. l04.9
ton Of bonds for the sinking fund. 74.43i,-
of February, 1851, $74Is, 600; lO40s of 1854, 81
s2os Of s lsss Soo SsSs OF OF ~
Sis, $50 900; consols of 1867, $95, 9l5 900; con-
soils of 1868, S33,740,0O0. Loan indemnities.
stock, 81 900, 600; old demand, compound in
increase of cash in the treasury. 81. 6s7 SO.
Total, $780, 069, 4O4.9S. The requirements of the
sinking fund for the year amounted to $50, 1885,
O65O2, which sum includes balance of $40, :
Sl7.l2s.7s not provided for during the pre-.
vious fiscal year. The sum of $74, 4S0 POI. IS was
applied to this fund, which left deficit of
Sic, 2O5, S7S.47. The increase OF the revenues
for 1881 over those of the previous year was
SO So, 9Ol.10.
It is estimated that the receipts during the
fiscal year will reach 500 600, 900 and the e1.
$l3O, OOO, 600 applicable to the sinking fund and
the redemption of the public debt. approve
the recommendation of the Secretary of the
retirement of silver certificates, and that the
act requiring their issue be repealed. They
were issued in pursuance of the policy OF the
Government to maintain silver at or near the
gold standard, and were accordingly made
receivable for all customs, taxes and public
dues. About sixty. six millions of them are
now outstanding. They form an unnecessary
amount of which may be readily supplied by
the national banks, in accordance with the
act of February %, 1878. The Treasury De-
millions in value of silver bullion to be coined
into standard silver dollars; 102 millions Of
these dollars have been already coined. while
only about thirty -four millions are In circula-
ton.
For the reason which he specifies, concur
in the Secretary's recommendation that the
provision for the coinage OF hxed amount
only SO much be coined as shall be necessary
to supply the demand. The Secretary advises
that the issue of gold certificates should not
for the present be resumed, and suggests that
no N national hanks nrOn0rlV be tOTD1O00n
by law to retire their currency except upon
reasonable notice of their intention to do so.
Such legislation would seem to be 1ustined by
the recent action of certain banks on the oc-
casiOn referred to in the Secretary's report.
OF the SIS, OOO 900 of fractional currency still
outstanding, only about $4,000 has been re.
this amount may be properly dropped from
future statements of the public debt seems
worthy of approval. So also does the sugges:
| ton of the Secretary as to the advisability OF
relieving the calendar of United States Courts
| in the Southern District of New York by the
| transfer to another tribunal of the numerous
suits there pending against the Collectors.
The revenue from Customs for the past year
was $l9S O59 676 o., an increase OF $l 6ll ~
over that of the preceding year. $l6s, O9s, 562 50
of this amount was collected at the port OF
New York, leaving So, 25l, 3.63 as the amount
collected at all the other ports of the country.
| Of this sum 1871, 1878 was collected on
sugar and molasse,; $31 ,ss5 ~: "a on wool and
| its manufactures; ST. ,462 ,5s4S on iron and
on manufactures of silk; SIO,s25, il5.2i ON man.
ufactures of cotton, and Sc. 1859 ,6l3.04 on wines
and spirits, making total revenue from these
collection for the past year were $6,4l9, %
an increase over the preceding year OF $751;
| 4lO.0i. Notwithstanding the increase in reve-
nue. from Customs over the preceding year,
| the gross value of the imports, including free
goods decreased over twenty five millions OF
dollars. The marked decrease was In the value
of unmanufactured wool, $H O23,6S2, and on
that of scrap and pig iron, $l2, ST.. The
value of imports of sugar, on the other hand
showed an increase of s., ,4H, Of steel rails
53s;, OF barley 49, l 81 and OF steel ell IN
this, the imports were as follows: Domestic
merchandise, $50 Ss9 ,259.E; foreign merchan-
disc, sls,45l ,sis. Total. 500 ,s7, S46. Imports
ports over imports of merchandise. $59,7l2,7ls.
Compared with the previous year there was
an increase of S66, 73Sy6SS in the value OF ex-
ports of merchandise. and decrease OF $s5,
go, lls in the value of imports. The annual av-
| erage of increase of imports OF merchandise
| over exports thereof for ten wears previous to
years there has been an excess of exports
| over imports of merchandise amounting to
ST. $50 66S, l03 an annual average of $l96 OIL
The specie value Of the exports Of domestic
947 in 1881, an increase of $sO7 800 AZ or l35
per cent. The value of imports was $435 ,95S,
4Os in 1870 and $642 664 62S in 1881. an increase
of SaO6, 1872 20 or AZ per cent. During each year
| from 1852 to 1879 Inclusive the exports of spe-
| Gle exceeded the imports. The largest excess
of such exports over imports was reached
| during the year 1854, when 1t amounted to
S92, 2Ol,92 but during the year ended June 30.
] 1850, the imports of coin and bullion exceeded
the exports by SIS, 1871 39l, and during the last
| fiscal year the excess of imports over exports
was $9l, 1884, $50.
| In the last annual report of the Secretary OF
| the Treasury the attention of Congress was
called to the fact that 1859 ,65l $50 In five per
centum bonds and S203, 573, $50 in six per cent
| UNI bonds would become redeemable during
| the year, and Congress was asked to author
| ize the refunding of these bonds at lower
| rate of interest. The bill for such refunding
| having failed to become law, the Secretary
| of the Treasury in April last notified the
| holders of the $l95 ,640, 400 six per centrum
bonds then outstanding that the bonds would
1 be paid at par on the first day of July follow
| ing or that they might be continued at the
| pleasure of the Government to bear interest
| at the rate of three and half per centrum
/ per annum. Under this notice SITS OK, $50 Of
/ the six per centum bonds were continued at
/ the lower rate, and ST., SIS go were redeemed.
! In the month of May a like notice was given
| respecting the redemption or continuance OF
/ the $4S9 Sll $50 of five per cent. bonds then
/ outstanding, and of THESE $l0l, 5Oa 800 were
| continued at three and q half per centum PEI
annum and SIS, 3S6, 400 redeemed. The six pei
Centum bonds of the loan of February 6th,
/ 1885, and of the Oregon war debt, amounting
together to $l4, l25, 800, having matured during
| the year, the Secretary of the Treasury gave
notice of his intention to redeem same. and
| such as have been presented have been paid
from the surplus revenue: There have also