The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-12-02

r, w ESIV.A. IUESD
FINANCIAL FACTS
ABOUT rHE.NArIoS's TREASURY
The Report OF Secretary AIeColioch-ou,
ForsIga Trade and Tariff "iseform."
MsrclAant arartne-E1cessivsC Coinage
Of sllver-Ths ! ational Banks.
Was'tSdToN, Dec. 1.-The report OF the
Secretary Of the Treasury gives the total
ordinary receipts Of the Government tol
the fiscal ! ear as S3is, s,5l9.Sg9; total ordi'
nary expenditures. S299,olG, ,473; leaving u
surplus Of sj7,Go3,306. OF this ,surplu.
50, ,4G6,54l was added to the cash in the
Treasury. the remainder being applied 10
the redemption Of bonds, certificates oi
deposit and refunding certificates. '''H
Compared with the, previous fiscal year,
tho receipts for 1854 have :nthe following
items decreased ,Sli, Oh, ,793 49, the most
considerable decrease being, in customs
revenue, Sl0,G39, COZ Il; in Internal rev.
enue, SOB, l34, ,290B AZ; in tax on National
banks, 81, ,O0s, ,:7S 72.Sr '.', '','', 4, I.
The expenditures show decrease as
compared with the previous year Of So.
5aa, ,i6s NJ, rs follows:' In ths-!War Dc:
partment, S9,4Si,7770 81; In pensions, $40, :
,5s3,3345 IS; in Indians, $3.50, ,59l o. and in
interest on the public debt, 81, 1881 ,762 II.
There was IN increase Of 81 ,25l ,5775 10, as
follows: In the Navy Department, S., Co.,
lB4 81 and In civil and miscellaneous, ST..
A2,4ll 70; making q net decrease In the
expenditures Of ST. .2Sl 1903 al.,fi5 tssf /
For 1885 there is an estimated surplus
Of SG,0SS,G05. which the Secretary thinks
will be increased to 100000. Bonds to
the amount or sol, 800 were redeemed
and cancelled during the year ending Oc-
tober 81 1884. !. +.
FOREIGN TRADE.
Referring to the trade depression the
Secretary says: 5s5!9 est.
THE all.important question that presses
Itself upon the public attention is, how
shall the country be relieved from the
plethora ol manufactured goods, and how
sl.alt nlethorA hereafter be prevented? It
ia obvious that our power to produce is
much III Excess Of the present or any
probable future demand for home con.
SUMPTION The existing iron, cotton, and'
woolrn mills, ii employed attheir full ca.
pacity, could meet in six monthsAperhaps
in shorter time-the home demand for
year. It is certain, therefore, that unless
markets nn~ practically " closed against nI
are opened; unless we can share with the
trade moluuolizel by European nations,
the depression now so severely felt will
continue, and may become more disas.
trous s;55-s5 = - go
The question how shall our foreign trade
be increased is the question wliici now
comes to the front and demands prompt
and careful consideration. Manufacturers
are primarily interested, but the whole
country has stake in its solution. In its
Investigation the tarid. will be necessarily
Involved, iuasmuch ,as the relations be-
tween it and our foreign trade are so close
that they cannot be considered .se IA.
rately, butt need not be involved e4 cept
so fur az, itstands in the way OF interua.
tional trade. II the duties upon raw ma.
terial are obstructious, those duties should
he removed. II the duties upon other ar.
ticles are an obstruction they should be
modified. Whatever may be required to
increase iour. foreign trade, whether it be
fQnf3aI n . ,rIs y ~ = A:
demanded by the. c.manufacturers
themselves. II A commission OF nq quirySis
to be compos+d ID OF Representa-
tives, the Secretary of the Treasury being
a member Gr oHcio. ., '' Z 111s5'>
rAnlFF "REFoRM"'-rREE RAW MATERIALS.
All the leading nations OF the world are
now engaged in manufacturing, and all
but Great Britain are fencing themselves
in by protective duties. Among them the
United States has been conspicuous, Has
not the time come when new departure
is demanded? Golden, one Of the ablest
and most farseeing Of British statesmen,
predicted that the United States would in
time not only become great .manuiuctur.
ing country, but would become colnpeti-
tor with Great Britain in the Sonth .lmeri.
can markets. x = go >
When the real condition Of; our foreign
trade and the character OF the competition
in WHICH We must sooner or later engage
are fully understood, it will be found that
our inability To make that trade rs free MS
our best interests require, lies in the neces.
sity which exists for heavy import duties,
which, although they may be levied for
revenue only, must be in large degree
protective.
In the commencement Of its work the
Commission should, think, regard the
following points US being settled:
First. That the public revenues are not
to he IN excess OF what may he required
for the support OF the Government, and
the gradual reduction OF the public debt.
.Scona. That our manufactures. which
under the fostering care of the Govern
ment have attained such gigantic proper
tons and whose prosperity is esse ntial TO
the welfare OF all other interests, are not
TO be put in jeopardy by radical and sweep
ing changes in the tariff; aud that all re-.
duCtions OF import duties should he made
with a view to their. ultimate advantage,
by opening to them markets from which
theyare now in large degree excluded. Z
IN the preceding remarks the tariff. has
been only indirectly referred to. From
this itmust not be inferred that am not
in favor Of reform Of the tariff, but rather
that the subjects of the tariff and foreign
trade are so Intimately connected that
they must, in MY opinion, be considered
ltaveswe not reached the stage
when policy Should be adopted which
terests Of the country? IL ,7s,53i a, q
Frst. That taie .e1isting duties upon
rawS materials which are to- be used in
manufacture should be removed. This caii
be done inthe interest Of our foreign trade,
Second: That the duties upon the arti-
cles used or consumed by those who are
the least able to bear the burden Of taxa.
lion should be reduced. This also can be
effected withoutfprejudicc to our export