Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1884-12-04
ApOUELoo8Ss REPORF.


~OO6LOOdyS aRk Uh1s
rne Secretary Of the Treasury
Speaks Out for Liberal Measures.
Secretary MoCulloush's report gives the
total ordinary revenues OF the govern ment
from all Sources for the fsosl wear ended
June 30th 1884 at s348, $40 889 90; total
ordinary expenditures. e290, 9l6, 473 SO
leaving surplus Of e57. 500. 396 09 OF
this surplus, e52, $50. $50 was applied to
redemption of loan OF July 18th, 1892,
%, 466, Sal 90 added to the cash in the
treasury, and the balance applied to
miscellaneous debts and loans.
The requirements Of the sinking fund
for the past Sscal year, including q bal
anoe Of 1928 3l6 II from the preceding
year, have been fully met. II is esti-
mated that the requirement for the
present fscal year will be 947, $40 201 Is
VI which there has been spplisd during
the a rat four months Of the year the sum
Of s27, 067,050
Compared with the previous 6soal resr
receipts for 1884 have decreased
e64, 044 1893 16; la ou,toms revenue,
$l9, 639, 007 IL; 10 internal revenue,
S23, 1874, 296 AZ; In tax on national hank',
OF, COZ, 27S.72 There has been an in
crsase Of "a 277, OSl IS 10 some items,
81, 1854, $40 So of which was In salas OF
public lands; makfng q net decrease from
all sources Of $49, 767, 712 03.
The expenditures show decrease Of
S25 ,533, 468 81, OF which 80 ,48l, 779. 81
was In the war department, $l0, b83, 345 IS
In pensions, "a, 5Sl, 752 n on public debt
and 1856, 59l.05 to Indians.
Tha tota al raoaffta for tho nnrraut flaoal
year, actual and estimated, are
1880, 000, 900; expenditures, 1890, 62),.
20l l6; estimated surplus, $50, 379, 798 "a.
Taking into account the prospective
increase of imports, which may bs trusted
to follow revival in business ,he score
tary saws: at seems safe to assume that
the surplus revenue for 1856 will be more
thpn $50, 100000"
The net reduction In the annual in.
terest on the public debt made during
the year is 90, 203, 1858.
The secretary next proceeds to express
his views briefly on /: lat Our foreign
trade and taxation. "a. Our merchant
marine. Sd. The public debt ard the
condition OF the treasury. 4'h. Our
national banking system.
The report dwells on the grave aud
pressing importance Of doing something
to relieve the country from the plethora
OF manufactured goods. II the duties on
raw materials are an obstruction, theae
duties should be removed II duties on
other articles are an obstruction they
should be modified. Hs recommends the
appointment OF commission, composed
OF fair minded men, mot welded either to
free trade or protection, to pros
eCute an inquiry thoroughly, oompre
hensively, and impartislly, In the OBJ.
struotions and remedy.
The report then cites our trade with
Brazil which, last yesr, resulted in ex
perts amounting to $8,645 1851, and i'm
ports reaching $50, 265, $3.50, leaving
| Sal $40, 628 as the balance against u.s.
As means OF llquidatiDg this balance
the report recommends an equalization Of
our trade with Brazil by sending
our manufactured goods there, which
ought TO be an easy matter
considering their accessibility and neigh
| borly location. The inability 10 make
this equitable trade, the report holds,
lies In the necessity which exists for
heavy import duties, which, although
they may be levied for revenue only
must be In large degree protective.
The report makes the following recon
mendations
lst. That the existing duties upon raw
materials which are to bs used in manu-
faoture should be removed. This can b.
done in the interest Of our foreign trade,
"a. That the duties upon the articleF
uaed or consumed by those who are tn,
least able to bear the burden Of taxation
should bs removed. This also can b.
effected without prejudice to our expor
trade.
Further on he says All the leadln.
nations Of the world are now engaged ii
manufacturing, spd all but Great Britain
are fencing themselves In by pro ectiv
duties. Among them the United State
has been conspicuous. Has not the tim
come when new departures demanded
, Golden, one OF the ablest and most far
seeing Of British statesmen, predicte
that the United States would in time no
only become great manu- fsoturipg uoun
try, but would become competitor wit
Cheat Britain in the South America
markets.
/ The repeal Of tax on tobacco ia recon
, msnded. The tax on whisky should b
retained, but that on alcohol for manu-
1 featuring purposes might be bsneaciali
removed.
, There ia too much ell or coin and 1,
: coinage should be suspended or more
j II forced into circulation. The recoinsQ
(, of sub,idiary silver coins ia urged an
Q tue offer II small advance on th
. metal vslue Of trade dollars 20 Undue
no ders to surrender them for bullion.
The secretary deplores the humiliatin
decline in our SHY ping interests and
. convinced that If the duties on th
foreign materials used in the construotio
and outfit Of iron ships were remove
they oould be built and fitted for sea .
9 cheapiy In the Quilted States as /
q Scotland. Are not cur iron and co,
d fields as productive and accessible en-
l. onr ar'iaans and machinery equal 1
theirs9
:. He thiDks government aid must be b a
before American ship owners can regal
u the trade which has been permitted
/ pass from them The le..aione polic
has been tried and our ships swept fro,
the ocean, while We pay ever yea. million
to foreign ship o~nerJ for f-eiet
4 and fares. Liberal subsidies ars npce
!, sary, bnt the amount required TO bull
!. up american shipping would be ipsiypii
!. cant TO what hes been granted to mani
facturefs by protective duties