The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1885-12-10

engaged in art culture in Europe, and has
caused them, with practical unanimity to favor the
abolition of such ungracious destruction, and in
in their interest and for other obvious reasons
strongly recommenp it.
The report of the secretary of the treasury fully
exhibits the condition of the public finance and
of the several branches of the government in con-
nection with his department. The suggestions of
the secretary relating the practical operations of
this important department. and his recommenda
ton in the direction of simpIiicaton and economy
particularly in the work of collecting customs du
ties, are especially urged upon the attention of con-
gress,
The ordinary receipts from all sources for the
fiscal year ended June 30, 1885, 1922 $50, O63S
OF this sum S1S, Al 939 "a was received from Gus
toms, and S112, ,49S, "a from internal revenue
Total receipts as given above, were 4S29, 1884
less than those for the year ending June 30, 1884
This dimunition embraces falling off of $685.,
k55042 in the receipts from customs, and S9,6S7,-
246.97 in the receipts from internal revenue.
The total ordinary expenditures of the govern
ment for Inc fiscal year were $780, 26 9o 30, leaving
surplus in the treasury at the close OF the year of
$780, 37712J, or S40 929, 432 less than the
plus reported at the close of the previous year
c s are res classlned a III o as ra t0r
course So, ,439 6O9. Ii: for Indians, $55, ,249 1853
For PENSIONS S56, 102, ,257 49, for the military in
Guiding river and harbor Improvements and
arsenas, $42 609 AZ; for the navy, including
sells, machinery and improvements of navy yards,
021 07969; for interest the public debt, $751;
$685. 3S6; for the District of Columbia S 499 $50 95
The amount paid on the public debt during the
fiscal year ended June 80, 1885, @as S45 993, 235 A.
vember l, 1888, the sum of S3,69S.2S, leaving the
amount of debt at the last named date, 81, ,514 45,
S6047 there was, however, at that time in treasury
the sum of So6,S SlS, 1923S
The total receipts for the current lsacl year end
ing June 30, 1886, ascertained to October l. 1885
and estimated for the remainder of the year, are
S31O000,000. The expenditures as ascertained and
estimated for the same time are $242 100000
The value of exports from the United States to
foreign countries during the last fiscal years
| follows:
|
and the percentage they respectively bear to the
total expectation, are given as follows:
Articles. Values. per cent'g.
Cotton and cotton manufatu-
rers, ........S213, ,II9049 2942
Breadstuiis BaE;a ICY 1S9SsoS9 .5 S 2 s07 M
Oils, mineral, vegetable and
Tobacco and it's manufacture. 24,767305 s.4i
| Wood and its manufactured u ,464,322 2.05
Our reports during the year We're as follows:
Merchandise, S579 S0,O53 80; gold, S6, 1886 90;
silver, S16550,6 ,667 90; total $626 S22 375 SO The
| following given prominent articles of i'm
ports during the year, with their values Ond the
| percentages that bear to the total importation:
| ARTICLES. PERCENT.
Sugar and mOasses ............ 1867 ,3S7 IA 1929
| Coffee. :. ................. 467 243 IS 500
| Wool and its manufactures s 446 564 50 773
| Silks and manufacturer. 4Q3 $50 OF 500
! Chemicals, dye drugs and med
Iron and steel manufactures :. S456S5 SO SIS
Flax, hemp aud jute manufac-
Cotton and its manufactures - 2S1 $50 OF 4S8
| Hides and skins other than fur
skins 200S64 43 3.56
| OF the entire amount of duties collected, 70 per
cent was collected from the following articles of
| imports: Sugar and moIaSseS, %; wool and its
manufacturers, Is; silks and it manufacturers, s;
iron and steel and their manufacturers, z; cotton
manufacturers, o; flax, hemp and jute, and their
manufactures. 5.
The fact that our revenues are in excess of the
actual needs OF an economical administration of
the government, justifes reduction in the amount
| for itl Cnr
ernmeni is but the means established by the will
of free people, by which certain principles are
and protection, ann it is never better administered,
and its true spirit is never better observed, than
pulousy reduced to the actual necessity of expend
iture and distributed according to just and equi-
| table plan
| THE REVENUE.
| The proposition with which we have to deal is
the reduction of the revenue received by the gov
ernment, and indirectly paid the people from Gus
toms duties The question of free trade is not in
volved, nor is there now any occasion for the gen
| eral discussion of the wisdom or eXpedieDcy of
! a protective system. Justice and fairness dictate
that in any modification of our present laws relat
have been encouraged BY .s- which
our citizens have large investments, should not be
ruthlessly injured or destroyed
| We should also deal with the subject in such
manner as to protect the interest of American la
bor which is the capital of working men. It's
stability and proper numeration furnish the most
justiiable preteXt for protective policy. Within
these limitations certain reduction should be
made in customs revenue. The amount of
each reduction having been determined, the inquiry
| follows where it best be remitted, and what
articles best beeleased from duty in the inter
+ est of citizens?
think the reduction should be made in the reVe-
nue. derived from a tax upon the imported necessa-
ries of life. We thus directly lessen the cost of
| living in every family of the land and release to
| the people in every humble home larger measure
of the rewards of private industry,
During the year ended November 1, 1885, one
6rQ6a and -fiXQD oil hnnlyG
lied, with an aggregate capital of $16 1888 900, and
the circulated notes have been issued to them
| amounting to S4 274 $40. The whole number of
these banks in existence on the day above mention
| ed was 2,227.
THE MONETARY QUESTION.
The very limited amount of circulating notes
issued by national banks compared with the
| amount the law permits them to issue upon de-
posit of bonds for their redemption indicates that
the volume of circulating medium may be
largely increased through this instrumentaity
| Nothing more important than the present condition
of our currency and coinage claim your atten-
| ton. Since February, 1878, the government has,
under compulsory provisions OF law, purchased sill
than s., 30 900 every month. By this process up to
the present date 215 59 435 silver dollars have been
| coined
A reasonable appreciation of a delegation of
power to the general government, would limit its
exercise witeout express restrictive words te the
peoples needs, and the requirements of the public
welfare. Upon this theory the authroity to coin
money given to congress by the constitution, fit
permits the purchase, Dy the government, OF 0ul-
lion for coinage, in any event dose not justify
| such coinage to extent beyond the amount
needed for sufficient circulating medium. The
desire to utilize the silver products ST the
trG should not lead to misuse of the provision of
this power.
The necessity for such addition to the silver cur
rency of the nation as is compelled by the silver
coinage act is negatved by the fact that up to the
present time only about fifty millions of silver dol
lars coined have actually found their way into cir
culation leaving more than one hundred and sixty
five millions in possession of the government the
custody of which has entailed a considerable ex-
pense for construction of vaults for its deposit
Against this latter amount there outstanding
, silver certificates of about S93,000,000.
Every month $2000,000 OF gold in the public
treasury are paid out for 81, 100000 of sill
, ver to be added to the idle mass already accumu
l lated. If continued long enough this operation
will result in the substitution of silver for all the
gold the government applicable to its general
purposes. 1t will not do to rely on the customs re
ceipts of the government, the silver thus coined
having been made legal tender for all debts anC
g dues public and private. At times during the las
six months large per cent. of the receipts for du
ties have been in silver silver certificates, while
the average within that period has been per cent
portion of silver and its certificates received by
the government will probably increase as time goe;
on, for the reason that the nearer the period ap
! proaches when it will be obliged to offer silver
payment of its obligations, the greater 1nducemen