St. Landry democrat., 1882-12-16

Pacific railway companies, ssio,554.37; from
the sinking fund for the Pacific railroad com.
panies. $3.50, 2Il.42; from customs fees, fines,
penalties, etc., 81 .3433 1900; from fees. consul
lar, letters patent and lands, 81 63s 0.97 from
proceeds of sales of Government property,
1913, a59.S5; from profits on coinage, bullion,
deposits and ASSAYS, 81 116, 693.73; from Indian
trust funds, $500, 243 %; from deposits by in-
tbe mstret 81 e.
lumba, M,7l5, l76.41; from miscellaneous
sources, $3.50, 445.43. Total ordinary receipts,
$403, 81, 250.2S.
EXPENDITURES.
The ordinary expenditures for the same
period were: For civil expenses, SlS,0f2, 3s6.42;
for foreign intercourse, 1881, 2.19; for In
dians, $9,!36,7474e; for PENSIONS SCI 345, 1885;
and harbor improvementsan and arsenal, $43 3d.
494.l9; for the naval establishment, Including
vessels, machinery and improvements at
Navy Yards, $i5 oss ,otSss; for miscelanaous
light houses and collecting the revenue, s34,
$50 23150; for expenditures on account of the
District of Columbia, 1880 543.s7: for interest
on the public debt, Sl1 OF, 206.79; total ordi-
nary expenditures $25I, 1881 439. 81, leaving
surplus revenue of 1913 ,SI0.71, which, with
an amount drawn from the cash balance in
the Treasury of 500, 73763i.S4, making $l66, 2S1,
50555 applied to the redemption of bonds for
the sinking fund; $500, 7ai 800 of fractional
currency for the sinking fund: 5.705.5 53 of loan
of July and August, 1851; s62572, $50 of loan of
II
S37 ,l94 $50 of 1858; 100000 of the loan of
February, 1861; 1903 900 of the 5-2Os of 1852;
100000 of the POS of 1854; 100000 of the 520s of
1867 $650O00 of the 10 40s of 1854 S24 $40 of the
consols of 1918; $s6,45O of the consols of 1867;
S4OS, $50 of the consols of 1868; SAL 400 of the
Oregan war debt; ,25D of the old demand;
compound interest and other notes $ls,350;
total, $l66, 2sl ,50o.55.
FOREIGN COMMERCE.
The foreign commerce of the United States
during the last fiscal year, including imports
and exports of merchandise and specie, was
as follows:
$S49417,4 79; total. S799. 959 1856.
Observation-Disclosures $724 $50 SD; specie,
S42 1880; total, 1851, III 1854 Excess of ex-
ports over imports OF merchandise, SO, go, 653.
THIS EXCESS
;is less than has been before in any of the
previous six years, as appears by. the follow
ing table: Year ending June 30, excess of ex-'
ports over imports of merchandise: 1875, 49,,
64s4sl 1871, $l5l l52 oal; 1879 s2o1sl4, 2st 1875
S26i, 66l $685. 1880 $l67,6sssls; 1881, $3.50, H.
rs; 1882, So, 90, es3.
NATIONAL BANKS
During the year there have been organized
Ill National banks, and of these institutions
there are nowin operation 2, 269, a largernum-
Der than ever before. The value of their notes
in active circulation on July 1st, 1882, was
1921. 656, 45S. l commend to your attention the
Secretary's views in respect to the likelihood
of serious contraction of their circulation,
suit may, in his Judgment, be averted.
COINAGE OF SILVER DOLLARS.
In respect to the coinage of silver dollars
and the retirement of silver certificates /
have seen nothing to alter, but much to con-
firm the sentiments to which gave express
sion last year. A comparison between the
respective amounts of silver dollars in circu-
lation on November ], 1881, and on November
j, 1882, shows slight increase OF million
and half dollars, but during the interval
there had bean in the whole number coined,
an increase of twenty-six million. OF the one
hundred and twenty eight millions thus far
minted little more than S35 900 are in cir
culation. The mass Of accumulated coin has
grown so great that the vault room at present
available for storage is scarcely sufficient to
contain it. 1t is not apparent why it IS deslr-
able to continue this coinage now so enor-
mously in excess of public demand. AS to
the silver certificates, in addition to the
grounds which seemed last year tOs justify
their retirement, may be mentioned the effect
which is likely to ensue from the supply of
gold certificates, for whose issue Congress
recently made provision, which are now in
active circulation.
OUR EXCESS REVENUE.
You can not fail to note with interest the
discussion by the secretary as to the necess1-
ty OF providing by legislation some mode of
freeing the Treasury of an excess of assets.
In the event that Congress fails to reach an
early agreement for the reduction of taxa
ton, I heartily approve the Secretary's
recommendation of immediate and extreme
reductions in the annual revenues of
the Government It will be remembered that
urged upon the attention of Congress at its
last session the importance of relieving the
industry and enterprise of the country from
the pressure from unnecessary taxation. 1t
is one of the tritest maxims of political econo-
nv that all taxes are burdensome. however
wisely and prudently imposed, and though
there have always been among our people
wide differences OF sentiment as to the best
methods of raising the national revenues,
and indeed, as to the principles upon which
taxation should be based, there has been sub
stantial accord in the doctrine that only such
taxes ought to be levied as are necessary for
awise and economical administration of Gov
eminent OF late the public revenues have
far exceeded that limit, and unless checked
by appropriate legislation such excess Will
continue to increase from year to year. For
the fiscal wear ended June 80. 1881, the sur
plus revenue amounted to Sl0O, 900 900; For
the fiscal year ended on the Both of June last,
the surplus was more than SLID ,o00, QUO. The
report of the Secretary shows what DISPOSE
ton has been made of these moneys They
have not only answered the requirements OF
the sinking fund but have anoraea large re-
public debt; but renew the expression OF my
conviction that ga
SUCH RAPID ExTINGUIsHMENT OF THE Ma.
| TIoNAL INDEBTEDNESS
as is now taking place is by no means cause
| for congratuiation. 1T is cause rather FOL
serious apprehension. If it continues it must
speedily be followed by one of the evil results
SO clearly set forth in the report off the Secre-
tary-either the surplus must lie idle IN the
Treasury, or the Government will be forced
/ to buy at market rates its bonds not then re-
deemable, which, under such circumstances
can not fail to command an enormous. prem,
ium, or the swollen revenues Will be devoted
to extravaganza expenditure, which, as expef-
fence has taught, is ever the bane of an over
flowing treasury.
REDUCING TAXATION.
1t was made apparent in the course OF the
animated discussions which this question
aroused at the last session OF Congress tina,
ducing taxation commanded the general ap.
proyal of the members of both houses. re-
greet that because of conflicting views as to
the best methods by which that policy should
be made operative none of its benefits have
| as vet been reaped. In fulfllment OF what
deem my constitutional duty, but with LITTLE
hope that can make valuable contrlbutlor
IA q Re hrietir my own views in relation to it.