The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1884-12-02
SALT LAKE CITY UTAH. TTTESDAY DFcEMRER 3 1874

429, 6O3.36; for the naval establishment,
including vessels, machinery and inn
proyementS az navy yards. Sl7 ,292,-
COLA; for miscellaneous expenditures,
including public buildings, lighthouses
and collecting the revenue, $4S,939,-
71000; for expenditures on accounto of
the District of Columbia. So, 407 049.62;
for interest on the public debt, S5f 57S,-
378.48; for the sinking fund, $i6. $780,
229.5 so; total ordinary expenditures,
$3.50, 916. 1883 = leaving surplus of
So, COS. 396.09. AS compared with the
/ preceding fiscal year, there was a net
decrease of over 81, COO 900 in the
amount OF expenditures The aggregate
receipts were less than those of the year
! previous by about $54 GOO, 900. The fall
ing off of revenue for customs made up
nearly $20,O00,0 600 of this deficiency,
and about So, 900 600 of the re
maisder was due TO the dim
iniShed receipts from internal taxation.
i The secretary estimates the total re-
ceipts for the fiscal year which viii end
June 80, 1885, at $3.50 900 900. and the
total expenditures at $3.50, $40, 201.16, in
which are included the interest on the
debt and the amount payable to the
sinking fund This would leave sur.
plus Tor the entire year of about
$50, 600, 600.
Exports.
The value OF exports from the United
States to foreign countries during the
year ending June 80, 1884, was as fol-
lows: Domestic merchandise, $724 1884,.
$50; foreign merchandise, $15, 54S, ISL.
Total merchandise, $40, 5l3, SOC; specie.
$67, 133, 1888. Total exports Of merchan-
disc and specie, $S07. 646, $40. The cot
ton and cotton manufactures included
III this statement were valued at sos
800, Ais, the breadstuffS at $l62, 544, us,
the provisions at STA ,416, SAT, and the
mineral oils at SAT 103,748. During the
same period the imports we're as follows
Merchandise, 1867 ,697 ,693; gold and sill
yer, $37, 426, 262 Total, sos, l23, 1856.
More than rs per cent. of the entire
value of imported merchandise con-
sisted OF the following articles; Sugar
!, and molasses, sos. 6f4, 274; wool and
J wooden manufactures, $50, 542, 292; silk
: and its manufactures, $49, $40. 128; coffee,
$49. 686, 795; iron and steel and manufac-
lures thereof, SAL ga 500; chemicals,
$3S, 464 ,965; fax, hemp. jute and like
. substances and manufactures thereof,
$33, 463, 1893; Gotten and manufactures OF
cotton, $50, 454, 476; hides and skins,
other than fur skins, so, $50, 9O6.
Silver.
l concur with the Secretary of the
Treasury in recommending the imme
: date suspension of the coinage of silver
e dollars and The issue of silver certi-
l flcates. This Is matter to which, in
former communications, have more
z than once invoked the attention Of the
Z national legislature. 1t appears that
l annually, for the past six years, there
have been coined, in compliance will
e thereuuirements of the act of February
!. 2Esh 1873, more that q 100000 silve.
!, dGAsns. The number now outstandin,
: is reported by the Secretary to be nearly
J 185, 600, 600, whereof but little more
D than 10000, 600, or less than 22per cent.
= in actual circulation. The mere eX
i istence of this fact seems to me to fur
: nish of itself cogent argument for TIT
8 repeal CT the statute which has mad
7 such fact possible, but there ere Othe
0 and graVer considerations that tend il
!; the same direction. The Secretar.
q avows his conviction that unless thi
: coinage and the issuance of silver cert
: fcates be suspended, silver is likely, a
J no distant, day 70 become our sole me
i tallic standard. The commercial dis
turbance, and the impairment of ma
!, Etional credit that would be thus Occa
y stoned, can scarcely be over estimated
4 I hope that the Secretary'5 suggestion
t respecting the withdrawal from circula
g ton of the 81 and the 81 notes will re
$ ceive your approval. 1t is likely that
G considerable portion of the silver nov
n incunbering, the vaults of the Treasur!
might thus find its way into tn
currency.
While trade dollars have ceased FOL
: the present, at Least, TO be an elemen
r of active disturbance in our currency
s system, some provision should be made
; for their surrender to the government
in view of the circumstances uRdel
: which they were coined, and of the fac
: that they have never had legal tendea
Z quality, there should be offered to-
{ them, only q slight advance over Their
! bullion value. The Secretary, in tn
: course of his report, considers the pro
priety of identifying the designs of osi
: subsidiary silver coins, and of so increas
: ing their weight that they may bea
= their due ratio of value, of the stan
: dard dollar HIS conclusions in thi
: regard are cordially approved.
e Excise Taxes
ln my annual message of 1882, I II
commended the abolition of all excis
e taxes, except those relating to. Gistille
e spirits. This recommendation is no
n renewed. In case these taxes shall b
a abolished, the revenues that will still II
: main to government viii, in my opinion
y not only suffice to meet its reasonabl
4 expenditures, but viii afford a surplu
large enough to permit such tariff II
o ductiOn as may seem to be advisable
h when the results of recent revenue Law
Z and commercial treaties shall hav
. shown In what quarters these redul
e tiHns cansbe most judicially effected.
II Foreign Trade.
! One OF the gravest Of the problem
= which appeal to the wisdom of Congre
= for solution is the entertainment of L
= most effective means Of increasing OK
: foreign trade, and thus relieving the
preston under which our industries a.
now languishing The Secretary of Il
ne Treasury advises that the duty Of iaYe
of tigating this,,sabiect be entrusted, in Il
4, firstj Instance to a cOTuDetantf ce3Inlni