The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1883-12-07
PUBLIC REPORTS.
OIances at the Annual Statements of See.
retaries Folger and Lincoln, and Post.
master-GeneraI Gresham.
THE TREASURY.


master-GeneraI Gresham.
The TREASURY.
WASHINGTON, Dec. 3.-The report of
Secretary Folger for the fiscal year ending
June 80, 1888, viii show that the total
revenue receipts for the year were $685.
287, $50; expenditures, $265, 40S, 1873, leav-
ing surplus revenue of $50, SIS, 444.
This is $1,000, 600 more than Mr..
Folger estimated that the surplus
would amount to in his last annual report
Compared with the previous fiscal year the
receipts for 1883 have decreased $12, 664, 367.
The expenditures show an increase over the
year before of 81, 500, 697. The expenditures
of the War Department increased Sc, 400, O00;
for the Navy Department, $3.50, 600, and for
pensions nearly S., ZOO, 900, while the inter-
est on the public debt decreased almost
81, ZOO, 900.
Since the last annual report the act Of
March 8, 1888. diminished the sources of
internal revenue, and changed the tariff law
SO that the estimate made a year ago must
be entirely revised. Then the receipts ex-
pscted from internal revenue were $145,-
100000 Now the estimated revenue is
$3.50, 600, O00
By the payment of $207, 00O,0 of the
public debt the charge for interest will be
greatly reduced. 1t is probable that the re-
ceipts will be about $3.50, 900, 900 for the
fiscal year 1884, while the expenditures will
amount to 1886, 900, 900, leaving a surplus
of $S5, 000,0 900 over and above the sinking
fund.
During the last fiscal year the bonds re-
tired amounted to $134, 900, 750 Since then
$38, 374, 900 of three per cents have been
paid, and $40,000,0O0 more have been
called. OF this last sum, S., 900, 900 has
been met already, and is included in the
$38, 374, 900.
The Secretary will again call the atten-
ton of Congress to the fact that the receipts
of the Government are greatly in excess Of
it's needs. The dangers OF this large surplus
to the money market will be dwelt upon,
and the Secretary will say that there is no
method of disbursing this surplus except by
payment Of the public debt. Payment of
the public debt, however, is now injurious
to the National banking system, and if
permitted to go on, even this year, as it has
during the last fiscal year, the existence of
a good many National banks is threatened,
and this means a sensible contraction of the
currency.
In discussing the mode of reducing the
revenues, the Secretary will oppose the
abolition of the internal revenue tax. He
will recommend a still further reduction of
customs duties, after proper inquiry shall
have developed what articles can best stand
the reduction.
THE PosT-oFFICE DEPARTMENT..
The Postmaster General reports the rev.
enues for his Department for the fiscal year
at SIS, sos, 692, being 81, 001, 281 in excess
OF cost. There are 1868 post-offices and
the number of postmasters appointed by the
President is 2,195. The expenditure
for clerk hire at New York and Chicago
is 1872 per cent. Of the gross re-
ceiptS, a proportion which is deemed larger
than is necessary The relations of the
Government to the subsidized Pacific roads
are pronounced unsatisfactory. The Post
MASTER General recommends the passage of
an act to exclude from the mails any news
paper containing lottery advertisement.
SECRETARY LINCoLN's REPORT.
The Secretary Of War reports the expendi-
ture for the year of $40, 791, 055. His esti-
mate for 1880is $44, 3S6, 206. The number of
assertions from thea army for the past year was
nearly $1,000 One soldier was killed and nine
wounded in actual warfare The Springfield
armory manufactured SO, 621 small arms
Attention is especially invited to the de-
fenseless condition of the sea coast and lake
frontiers and the importance of aiding in
the formation of volunteer militia compa--
MES.