The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1883-12-06

Abstract NJ tho Report NJ th~ Secretary ri
the Iremau ev.

Me TREASURY.
The report Of Secretary Folscs for the fiseni
nary revenues u the ooscrnment for tho sca
were ~ follnwni cnstoma, tala ,soa,tp1, intcrna
revenue. N..,7ao,saa, salea ~ public snds
saa. Spa,oah, total. .saps,ssf,Ss a Ordinary cs
Essnsss. ti,ll and miAcellapeons, fas,e,a,oal
W,ssa ~ ls.. Ms.i a, Navy dsnaI.msnt
siss ia,ersss On pubic deh 'p sss,iso .Ssi
total aaas,ans,as, leaving Hurpnr rev.
s Sss a s s s, s; IN, mo- s., mc,.
Mnuld amount ~ IN hia lani annual report
compared With thu previous fiscal year. the 70
.eln,. fnr lssl have decreased, IN rnrtoma
dl.erl tax, al and IN N HncnncoNa, t,oa,-
ps They have ", rnawl ~ Mles OF public
,sn sa,aa,,;a, Total ,lre,earc, s,s,aa,.ae7
Nsar before OF si,sM,ap, Thn expenditures Of
tho War deMrtmcnt ins,eared A,taa,n1, tnr
The Navy department nm sa,o.n and g, p.n.
public debt decreased almost sla.noo,oon,
sine s the laa, annnal ,enor the net Of March
n,e and ,hanssi tho ,aan Law, 40 that the
estimate mada year ago must he entirely tea
sise,t Then the ,ece,lts expected from inter.
% MAJ 's revenue Ms" IL ] o N TSs ssss s.'
fer thu feus months endng Nov. /, the total rs.
S %sn,hs S y, ,s assr SsS e =, INV
pissM aud tN,Tae,an, Nv the payment If
ss., ,n,ea, 2, tho nnhle debt, the charge Tor
that the scsir,s viii ~ ahnn, ssaa,Ma,on for
inc is.a' Nea, issi, White The expenditures will
s nm MN ~, 70 sssn"n. ,ss,na SURPLUS u
nn,ins the Last hsoal war the bonds retired
amounted IL tlAin,M,saa, since then Sss.a i,nM
NOR. s have ' Sssa siss ', 81 ma and san
NV ms been met already, and In included In tho
q
stess ~ the Fac, ,hs, III. reoe,r,s ., the Govern.
inent arr greatly In excess ~ IT. needs, The
dangers " this large surplus to the money
market ma, WI he dwell, upon, and the SECRETARY
MiilsaN that there l. no method OF atshursiau
this surplus except hy payment Of the public
dshf, lNyment Of thu rnhl,c debt, however, la
naN,n furious 10 tho national banking syston,
When all ths outstanding calla are paid, tho
Tor cents, viii he reduced IL the ncishhorhoo,l
1T taa,na,nN. and Ut this the hanks hold about
ssnotn,an ltaNment Ut the public debt l. To
liz permitted to 10 ON, even this wear, IN II has
during the last haeal war, the existence Ut u
gaoa many national hanks Ia threaten u, and
this mean. a sensible contraction u tho cur.
rcMeN. III the income 81 TIM Government
remains a. Y IN, the Secretary Of the Treasury
Will cal, At lcast sSn,'W,nn more " bonds he.
insc the end u the tsoal war, aud by tho end Of
the heca wear lsSa morn than halt tho hanks
holding ~ ~ security Tor circulation would
have u replace them with ~ at great rsc.
niam or retire ,h,iv circulation, ana thus CON.
In discussing tic mode ~ reducing the revc.
MUGS, tho Secretary opposes the abolition II
| TIM int, nAl.tcvcnne tax, II II estimated that
this tax vii. Weld Mntcr n, prsssn, law Nso. :
aN,Nn aud this 4 Al least xAnA.aoo more
than the revenue can he decreased, A decrease
Ut the tax on tobacco and spirits does not
necessarily argue smaller revenue. As expert.
emo has often iaund. Therefore. the SECRETARY
recommends a still further reduction Of customs
duties, after proper inquiry shall have devel~
eped what articles can hest stand the reduction,
sugar, At least, tho Secretary thinks. ought TO
ray much smaller duty than Il now daes, The
Secretary II embarrassed hy the new law witch
has 80 reeently heen passed that u would
seem proper 10 give II further trial
hetote eadeaNotiNg to change u, hut
has not accomplished thu par>
roses which he desired ta eject when he last
Year recommended that Il reduction NJ revenue
| he mate by \ revision ~ the tativ that should
rsstnee the duties On sugar. iron, steel, woolcns
anu Mo 4, eattons ami raw material, Therefore
| these Recommendations must I've substantially
| renewed, tor the daslssss III 4 large surplus arr
even mose thteat.ntng than they were before
| the passage Ut tho Tarisl act
The Secretary calls attention Ia the sasccs~
| tiens maac In Comptroller knoN, that tho rate
cf issue ~ national hank notes W. increased Ia
10 res cent. Ut tho market value " tho lnnds,
| and that the ~ hc refunded IN ~, the holders
| recelvlmg u rremun IN satisfaction for the
resultant less II int rest