The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1882-10-20
The TrensnrY nnnnrimnnt.

parts of Secretary Folger's annual report.
The receipts from all sources for the fiscal
year ended June 20, 1852, were $40, ,52J.-
260,2S, OF which S22U, tlO,73O.25 we're de-
rived from customs, and $llG, U7,-
595.4j from internal revenue. The
ordinary expenditures for the
same period were S25I991, ,l39.51,
and the amount applied TO redemption OF the
public debt $lG6,2Sl 5000. OF this latter
amount SO, 737, ,694.o4 was drawn from the
cash balance in the treasury The amount
paid for interest opthe public debt (included
III the ordinary cNponditures) was S71 ,077,-
206.79. The net increase in the revenue for
the year was $42742, ,9577l, and the net de-
crease i'll expenditures $2,73l, ,44S.02. The
net reduction of the interest charge on the
public debt for the year has been s6,i9J,5H
STANDARD SILVER DOLLARS AND SILVER GER
TIr1cArEs.
There had been coined on No
vember /, 1882, under the act
of February 2S, 1873, of STAN
dard silver dollars s...........S 1928, 1923, $50
There were in the treasury
at that date e.............".. 929i6,Ooi
And in circulation. .......... $35,3S3,7 7SG
There were in circulation No
vember /, 1881, about ...,.... 3,000000
Increase se................. Sl,3S3.7 .7S6
Thesupply of silver dollars in the aggre-
gate, and furnished yearly, is much more
than the demand.
The secretary repeats his recommendation
of last year. that the provision for the coin
age of a fixed amount of standard silver dol
lars each month be repealed and the depart
ment authorized TO coin only so much as will
be necessary to supply the demand.
The recommendation is renewed for the
repeal of the act requiring the issue of silver
certificates. and for law authorizing meas
ures for their early retirement from circula-
ton.
NATIONAL BANKS
The national banks hold $220,OO0OO0 of
United States bonds which are payable at the
pleasure of the government. This is more
than one-half of the whole amount outstand-
ing of this class of bonds. If the public
debt is to be paid as rapidly as it has been of
late, it is likely that all of these bonds
will be paid during the next three years.
| Whenever they are called for payment
the banks holding them, to keep up the cir
culation of their notes, must either deposit
lawful money in the treasury amounting in
the aggregate TO at least 500, ,0OO,OOO or pur-
chase and deposit these other United States
bonds The cheapest of those bonds are at
a high premium in the market.
The comptroller gives statisticics of the
taxation of the national banks, and agaiu
recommends a repeal of the tax upon capi-
tai and deposits, in which recommendation
]
in national banks is $iG2,3il, ,60l. The taxes
assessed upon them by the United States
and the States for the year 1881 were S17,-
1S9,0S0, being at the rate of three and seven
tenths per cent. The amount assessed by
the United States is nearly one-half of the
whole. A repeal of the laws providing for
it would still leave those banks liable to an
assessment by the States of over eight mil
| lions of dollars per annum.
The interest bearing funded debt of the
| United States was, on November /, S1,4lS,-
0S0,2O0. The total amount of bonds held by
the national banks. state banks and savings
banks at the nearest corresponding date that
could be ascertained was S659 0SS, ,S26, which
amount is not greatly less than one-half of
he whole interest-b bearing de bt.
REDUCTION OF TAXATION.
Speaking of suggestions made of modes
of freeing the treasury from the excess of
assets, Secretary Eolger says: 1.-The radical
cure for the evil, is i'll the reduction of tax
alton, so that no more will be taken from the
people than enough to carry on the govern
ment with economy: to meet all its obliga-
tions that must be met from year to year; to
pay off with reasonable celebrity the part of
! the debt which it may pay at pleasure, and
| to provide through the sinking fund for the
pa. ment of that which will become payable
by and by. The evil comes from the likeli-
hood of the government holding from time
volnme at uncertain ar and mfoTeseen ~,
| times. and at times often inonpor-
| tune for the business of the country There
could not be that surplus. surelv not so rreat
n one. il tbe subjects of taxation were les.
sened and the rates made smaller mon these
! retained.
In connection herewith should he borne in
mind the increasinr expenditure for men.
! sions es lilxeIv TO affect in soIne decree tbf
| increase of surplus.
PAYMENTS ron pEys1oNs.
The commissioner of pensions has fur.
nished TO this Department an estimate based
unon facts on his record which gives these
| f5rures:
! Number of claims filed TO June 20.
1850 .....-.. Sl7. 70.
Number admitted ,' 472,776
! Number on rejected files 75,2s8
| Number pending, ....,... 2G9,G78
| S17 70.
| oe .ho ,,,,,,,,,on ,,o,,l;ru ,o7 600 ora ~,
.;Nn1 t'i t q U.,.aU, ~ ~ a., ,-a,nyt - :,
~ ','ia fnI ',ii paS
m t,ie yOid nI sdI o,o S9a 0o0 o09
NC 20 AZ o,. loG
g. -, ~ 1870 oi ,,''i I,o
I'LL ~, -, doto f Hii,,,,