The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1884-12-12

tIe reportAof the Secretary. It APT ears Tn,
the ordinary revenues for the rs, al yet
067,i9.76; from internal revenue, 81 1.5st
6I2.5l; from all other sources, $31, SG6,A ~
| total ordinary revenue, $34S, SIP S69.G III
gSb sy tse
intercourse, $L2c0, 7G6T; for Indians, 81, 45s
9ss.s9: for pensions, SIS, AZ, ~ 30; for tn
military establishment, including river an
50; for the naval establishments, inciud
ing vessels. machinery and improvements a
navy yards. $l7, N, e0l A; for miscellaneou
s ssp ni, including public buildings
account Ssi Of the district Of Columbia
81, 4e7 e.s az; for interest on on the pub
| lie debt, SJ5.41S,3.S4S: for the sinking
fund, S46 1870, zsey.5o: total ordinary expendi
lures, 500 ,alG, 4S3. leaving a surplus OF S57,
6G3,3 or as compared with the proceed
S2o,0a0,000 in. the amount of expenditures
The aggregate receipts were less than those
of the year previous by about S540O0,00O
The falling OF of revenue from customs
made up nearly S20,0J0.OO9 of this deficiency
and about z3OO0,0J0 of the remainder was due
to the diminished receips from the internal
taxation. The Secretary estimates the tota
june 10 ISIS, at sssooa do and the total ea
penditures at s241. gu, 2ul l6, in which are in
cluded the interest on the debt and the
amount payable to the sinking fund. This
would leave surplus for the entire year OF
about S34 !OO90Oo. The value of exports from
the United States to foreign countries during
the year ending June a,th, 1854, was ss fol
lows lows Domestic merchandise ns;rs ST. sci So
tai merchandise. $7!O5Iaeoo; specie,
ST.. is. $50; total exports of merchandise and
specie, 500, 616,a2. The cotton and cotton
were valued at S,Ds, IOO. As; tho breadstuffs at
SID, 54 rs; the provisions at $1l4, 4l6.547 and
the mineral oils ut 81. During the
same period the imports were as follows:
Merchandise, S6oI,657, 6a}; gold and silver,
$37. 49, t2: total, $105, 1885. More than
ninety-three per cent. of the entire value of
imported merchandise consisted Of the fol
lowing articles: Sugar and moiasses, $l0S,-
84, "a; wool and wooden manufactures, 3d.
42 292; silk and its manufactures, $40, 949, l2S;
coffee, $49, 6S6, IDS; iron and steel and manu-
features thereof, Sal ,46l $50; chemicals, 1884,
6og.G5; fax, hemp, jute and like substances
and manufactures thereof, $33 463, 39S; cotton
and manufactures of cotton, s3o,455, 476;
hides and skins other than fur skins, 81,
30,3G.
SILVER COINAGE.
concur with the Secretary of the Treasury
in recommending the immediate suspension
of the coinage of silver dollars and the issue
of silver certificates. This is a matter to
which, in former communications, l have
more than once invoked the attention of
the National Legislature. 1t appears that an
nually for the past six years there have been
coined, in compliance with the Act of Feb
ruary q, 1873, more than twenty-seyen
million silver dollars. The number now ont
is reported by the Secretary to be
nearly one hundred and eighty-five millions,
whereof a little more than forty millions or
less than twenty-five per cent. are in actual
The mere instance of this fact
seems to me to furnish of itself a cogcnt ar
gument for the repeal of the statute which
has made such fact possible but there ars
other and graver considerations that
tend in the same direction. The
Secretary Seer ,oss avows his sor, conviction ion
ina Of srnc esr, Sn no aa
pended, silver is likely Mt no distant day to
become our sole metallic standard. The
disturbance and the impairment
of the National credit that would be thus oc-
can scarcely be everestimated. /
hope thar the Secretary's suggestions res
pecting the withdrawal from circulation of
the one do1ar and two dollar notes will re-
ceive your approval. 1t is likely that con-
portion of the silver now in the
vaults of the. Treasury might find its way
into curreSry. While trade dollars have
ceased, for the present at least, TO be an ele-
nent of active disturbance in our currency
system some provision should be made for
their surrender to the Government. On view
Of the circumstances under which these
we're coined, and of the fact that they have
never had legal tender quality, there
should be offered for them only slight ad
rance Overtheir bullion valuc. The Secre
tary in the course of his report considers the
of identifying the designs of our
subsidiary silver coins, and of so increasing
their weight tina. they may bear their due
ratio of vaale to the standard dollars. His
in this regard ase cordially ap-
proved.
In my annual message of SO referred to
the abolition of all excise taxes, except those
relating to distilled liquors. That recon-
mendatiop is now renewed IN case these
taxes shall be abolished the revenues that
will still remain to the Government will be,
IN my opinion, not only sufficient to meet its
expenditures, but will afford
surplus large enough to Eernit such
TARIFF REDUCTION
rs may seem to be advisable when the re.
;ultS of recent revenue laws and CONNER
,ial treaties shall have shown in what quar-
ers these reductions can be most judiciously
effected
One OF the gravest of the problems which
appeal to the wisdom OF Congress for solu-
ion is the ascertainmeht of the most effect
we means OF increasing our foreign trade
and thus relieving the depression rnder
which our industries are now languishing.
rhe Secretary of the Treasury advises that
The duty of investigating this subject be en-
trusted "a the first instance to q competent
While fully recognizing the
that may be urged against
This course, am nevertheless of the opinion
that upon the whole no other would be
likely to effect speedier or better results.
That portion of the Secrctary's report
+ hich concerns the condition Of the interest
cannot fail to command your attention. He
i've to investment of American capital in
american steamships, the Government shall
by liberal payments for mail transportation.
Or otherwise lend its active assistance TO in
ividual enterprise, and declares his belief
that unless that course be pursued our for
eign carrying trade must remain as IL is to-
lay-almost exclusively in the hands of for
eigners. One phase of the subject is now es-
pecially prominent in view of he repeal. by
the act of June 70 1884, of all salutary provis-
ons arbitrarily compelling American vessels
TO carry the mails to and from the United
States. AS 1t is necessary TO make provis-
ions to compensate the owners of such YES
sells for performing that service after April
Is. 1885, it is hoped that the whole subject will
receive early consideration that will lead to
the enactment of such measures for the re-
cival of our merchant marine as the wisdom
Of Congress may devise.
The three per cent. bonds of the Govern
ment to the amount of more than 81 ,0oO,OO0-
)O have since my last annual been redeemed
by the Treasury. The bonds of that issue
still outstanding amount to 4 little over
San0, 100000, about one-fourth of which will
be retired through the operations of the
sinking fund during the coming year as these
bonds still continue the basis for the calcul-
how to avert the contraction of the cur
rency caused by their retirement is one of
constantly increasing importance.
1t seems to be generally conceded that the
law governing that matter eXactS from the
banks excessive security, and that upon
heir present bonus deposit a larger circula-
lion than Is now allowed may be granted
with safety. / hope that the bill which
passed the Senate at the last session, per
hitting the issue of notes equal to the face
ralue of the deposited bonds, will commend
Itself to the approval of the House of Rep
In the expenses OF the War Department the
reports q decrease OF more than
S, 0D0,00, of which reduction $5,6JUO)O was
Effected in the expenditures for rivers and
larbors, and s., IG, 900 in expenditures for the
luartermaster's Department. Outside of
hat department, the annual expenses of all
he army bureaus proper except possibly |
he ordnance bnreau) are substantially |
charges which cannot be materially diniin- |
shed without a change in the numerical |
strength of the army. The expenditures in |