Savannah morning news. [volume] (Savannah) 1868-1887, 1883-12-05


The ordinary revenues from all
sources for the fiscal year end - -, i.
ed June So 1883. were ...-..- S59e - 'SSI 70
Total ordinary expenditures %22'4Oo' AS' d
Leaving surplus revenue of 32,s's,444 Al
Which, with an amount drawn
Treasnry of.-.',1.-....-.,--. I.299,sI2 So
Making acknowledgements. 1874, IL, 1856 90
Total receipts, actual and esti-
mated. for 1884 -.-.-.. ..... y343 10000 OO
Total expenditures, actual and
estimated, for 1884 ...-.-...-. z5S,Uoo,VVV W
s5.OoO,OOO 90
Estimated amount due the sink
ing fund for 1854 .......------- 40'olo''+l VI
Leaving a balance Of ......... $50, IS, 25s 80
STANDARD SILVER DOLLARS.
on November !, 1888. under the act Of Feb
ruary p, 1873, there had Deen q coinSge %
standard silver dollars amounting TO Sl5b.l2V.-
949: there were in the Treasury at that GATE,
Sll6.3S6.Ol7. There were then IN clrculatlon'
and in the minis on account Of pronSs on lhe
coinage not yet deposited in the treasury,
$40. 334. 1872. There were in circulation on
November l. 1852, So, 1884, 1856. The coinage be-
tween the lst OF November. lSo2, ana the same
date in 1888 had increased S2S,39l.069: the
amount in circulation Tor the same time lad
increased 81, I36.32l.
THE TRADE DOLLAR.
1t is possible to make an estimate OF the
amount Of the trade dollar that would come
to the Treasury for redemption, If authority
were given therefor. The whole issue OF the
coin has been S35,960,446. Some of that has
disappearedi in manufactured articles; 1t Is
estimated from 100000 to 100000. 1t Is
calculated that fye-siXths Thereon went
abroad in the beginning. ana IL Is DelleVed
that but a small part of that has come back,
and that there is now held by our people but
from s., 000 coo to sS.000.000.
A thorough and effective redemption OF it
can be brought about in this way: Let au-
thority be given by Congress to the Treasury
Department to barter for trade dollars at
their nominal value, standard dollars at their
nominal value, and melting the trade dollars,
to recon them into standard silver dollars.
counting the trade dollars got in this way as
a part of the silver bullion which the act OF
1878 empowers and directs to be bought and
coined monthly.
SILVER CERTIFICATES.
The amount of silver certificates
outstanding November /, 1883,
was ~. .-............ 9,579, al
The amount outstanding at the
same date in 1882 was -....... 1851 10
There was held by the Treasury
on the lst of November, 1881 1887 ESQ
And on the same date in 1888 I4,244,f60
These figures show an increase Of the silver
certificates in the hands of the people OF $l9,-
1881. Figures given above show like in
crease Of silver dollars Of 81, l36,32l
GOLD CERTIFICATES.
OF gold certificates the amount ready for
issue November l. 1888. was 1885,. 100000, and
the amount issued November !, 1883, was
500, 10000.
The amount of coin in circulation on the
Both of last June was:
United States gold coin .......... 1881, 254, 794
United States silver coin ....-...-- 22S,2l6 lyJ
NATIONAL BANKS.
The number of national banks IN opera
ton November lst, 1888, was 2,522, an increase
over all former years. The number Of banks
organized during the year IS 26l, the greatest
number organized during any year since
1865. Returns made on October 2d OF tins
year show aggregate national bank CAPT
tai Of $500, $3.50 7S7, an increase OF $26, 595.5l4
during the year: a circulation of $34,93l ,515;
a surplus of $I02. 900. 4S2. and individual de-
pOsits of Sl,049, 400, both of which
are in decrease; loans OF sl,3O3, 45O, 40, ana
specie of $l07. SE .9S3 both of which are IN in
crease. The corporate existence OF 800 has
expired during the year, of which 213 have re-
neWed it under the act passed by the last Con-
gress. Seventeen have been placed in liquid
alton by vote of their shareholders, four have
expired by limitation, and all but twoof these
have been succeeded by new organizations in
the same localities with new titles.
PLANS FOR RETAINING THE NATIONAL BANK
CALCULATIONS.
A plausible plan for preserving national bank
circulation is for the government to offer q
new bond, of its own issue, at low rate of in
terest, to run long period, IN exchange Tor
its per cents: and AZ per cents, allowing
such a rate of premium upon the latter, but
lower than that at present ruling, as would
induce the holders to surrender them and
take the new; and to make this security for
bank circulation. | doubt not that this Is
feasible. | rather recommend, and so | do,
that the internal revenue tax upon circula-
tion be taken off in whole or in part. This is
l per cent. per annum, and amounts to about
three millions and quarter each.
THE INTERNAL REVENUE.
The amount Of the internal revenue for the
last fiscal year was Sl44.720,36S 9S.
The cost of collecting the internal revenue
for the fiscal year was $5,ll3,1S4 IS. The es-
timated cost for the same work for the current
year is $4,999.l90.
The following statement shows the number
and amount of claims presented for rebate of
taxes on tobacco. snuff. cigars and cigarettes,
under the provisions Of section of the act of
March 3, 1888, and the present condition OF
Whole numbero of claims presented 1859
Amount of rebate claimed $3,725,9l3 81
THE SURPLUS REVENUE.
The estimated surplus of Ss5,O0O,OOO a year
would pay the whole amount of the interest
bearing debt in about fifteen years.
l consider, therefore, that in legislating for
the future, the revenues shOnld not be so far
reduced as to prevent the application each
wear of about $50, 600 to the sinking fund.
Upon the estimate OF $50 900 as the surplus
for the current year, we find surplus for
TlNfN'~FNNet
for the regular expenditures OF the govern
ment, or for the payment of the national debt
through the sinking fund.
On the whole, then, this Department does
not recommend an immediate revision of the
tariff act. 1t adheres, however, to its convic-
ton. that ultimately the just aud eXpedient
method of relief from taxation, and of linn
iting the revenues tie the needs of an ecOnOm-
ical government must be found in a reduction
of the duties on imports.
Propositions are made to repeal the whole sys-
Il
of last year: II see no public sentiment or po-
litical action, indicating a desire on the part
Of taX-paying citizens to strike out this class
Of taxes"
VALUE or IMPORTS.
The value of the imports of merchandise
into the United States during the year ended
June go 1888. amounted TO 1923, lS0,9l4, as
against $724, 639, $40 during the preceding fiscal
year, decrease of $l,45S,66O.
HOW. CARRIED.
OF the merchandise imported into the
United States during the fiscal year 1888,
1886. 2 $50 were brought in American YES
sells and 1864, 1856 in foreign vessels, and
S23,003,OiS in railroad cars and other land
vehicles.
OF the exports of merchandise s1o4. AIS ,2IO
were shipped in American vessels, 1894 1871,
34S in foreign vessels, and $685. 9,SH in rail-
road cars and other land vehicles.
REVENUE MARINE.
This service continues to perform satisfac-
have cruised during the fiscal year an aggre-
gate Of 300,SS0 miles, and have boarded and
examined y, 5S7 vessels. of which 2,240 have
been seized or reported to the proper authori-
ties for violating the law in some respect.
In relief work they have been particularly
efficient. having assisted 224 vessels in dis
tress. which, with their cargOes, aggregated
in value 1885, Us, and on board which were
2.497 persons. Sixty people have been picked
out Of the water and saved from drowning.
One revenue steamer alone assisted rs mer-
chantmen, valued, with their cargoes, at 81, =
$4,000.
LIFE SAVING SERVICE.
During the past year this service has made
its usual excellent record.
At the close of the year the stations num-
bered 1874. The number of disasters to docu-
mented vessels within the field of their opera
lions was 300. On board these vessels there
were 3, 1872 persons, of whom 3,777 were saved
the others were lost. The number of ship
wrecked persons succored at the stations was
6jl, and the number of days relief afforded
them in the aggregate was $40. The esti-
mated value Of property involved was 81, I76,
$40, of which $5,6ll.S00 was saved; the rest
was lost. The number of vessels totally lost
was IS.
MARINE HOSPITAL SERVICE.
During the last fiscal year 40. 1876 patients
received relief-I3,356 were treated in hos