The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1885-01-02


dent, with the advice and consent Of the SEN
ate, to fix from time to time the diplomatic
grade Of the representatives Of this govern
ment abroad, rs may seem advisable; pro-
vision being definitely made, however, AZ
now, for the amount OF salary attached to
tho respective stations
FINANCIAL.
THE sEcRETARYs REPORT
The condition of our finances and the
operations of the various branches OF the
public service which are connected with the
treasury department are very fully dis
cussed In the report Of the secretary. 1t ap-
pears that the ordinary revenue for the fiscal
year ended June 80, 1884, Were:
From customs. .................$l93,0 O7,4S9 40
From internal revenue. ........ 12l, 5S6.O72 81
From all other sources. ........ 81, S66, BOT 10
Total ordinary revenues. .$34s, $40 500 81
The public expenditures during the same
period were
For civil expenses .............. s22,3I2,sO7 Il
For foreign intercourse. ............ l,26076 81
For Indians. Observation-Disclosures. 6,475,999 30
For pensions. Observation-Disclosures. 65.42922S 80
For the military establishments,
including river and harbOr inn
provements and arsenals. ........ 80, eos 90
For The naval establishments, in
Guiding vessels, machinery and
improvements at navy yards. l7,292,60l 4G
For miscellaneous expenditures, in
Guiding public buildings, light
houses and collecting the revenue 43,939,7l0 90
For expenditures on account Of the
District Of Columbia. ............ 3407, 049 CO
For interest on the public debit. 54.57s.378 as
For the sinking fund. ............ 46, 0,229 30
Total ordinary expenditures -. $500 GIG 4S3 ~
Leaving q surplus OF So7 COB ,396. 90. AS com
pared with the preceding fiscal year there
was q net decrease OF over S2l .O00, 600 In
the amount or expenditures. The aggregate
receipts>were less than those OF the year
previous by about $7i 600, 600 The falling
Off of revenue from customs made up nearly
500, 100000 of tho deficiency, and about
$23, 900, 600 of the remainder was due to
the diminished receipts from internal taxa
ton The secretary estimates the total re-
ceipts for the fiscal year. which Will end June
80, 1885, ut $3.50. 600. 600, and the total
expenditures at 5000, 500, POI, in which are
included the interest on debt and amount
payable to the sinking fund. This would
leave surplus for the entire year of about
$30. 600, 900 The value of exports from
the United States to foreign countries during
the year ending June 80, 1854, was rs
follows:
Domestic merchandise. 1924, 96i, $50
Foreign merchandise. .............. 15,54S,757
Total merchandise. .$74O.5I3,6 GOO
specie. ..................... $oHl33,Ss3
Total exports Of merchandise and
specie. SSO7, 646,39
The cotton and cotton manufactures in
cluded III this statement were valued ut
$20S 200, AID, the breadstuffs ut $lG2, 044,-
7l5. the provisions ut s. Ia, 4l6, 547 and the
minerals ut $i7 1O3,24S. During the same
period the imports were as follows:
Merchandise. .$069, 697, 693
Gold and silver. ACKNOWLEDGEMENTS. 3I426,262
Total. sos, 1 90, 955
More than SO per cent of the entire value
of imported merchandise consisted OF the
following articles:
Sugar and molasses. ........ 500, 1884, pa
Wool and wooden manufactures. ...... 53,542,2 300
SILK and its manufactures. $3.50 l2s
Iron and steel and manufactures
tnereoi no ,ci az
Flax, hemp, jute and like substances
and manufactures thereof. .......... 33,4G339S
Cotton and manufactures of cotton. 30,454,t76
Hides and skins other than fur skins. 22,35O,9 DOG
SILVER DOLLARS
concur with the secretary of the treasury
in recommending the immediate suspension
Of coinage of silver dollars and of the issu-
ance of silver certificates, and this is mat
ter to which, In former communications, l
have more than once invoked the attention
of the national legislature. 1t appears that
annually for the past six years there have
been coined, in compliance with the act or
Feb. %, 1873, more than twenty-seven mil
lion silver dollars, and the number outstand-
ing is reported by the secretary to be nearly
one hundred and eighty-fve million, whereof
but little more than forty million, or less
than % per cent, are In actual circulation
The mere existence of this fact seems to
me to furnish Of itself cogent argument
for the repeal OF the statute which has made
such fact possible. But there are other
and graver considerations that tend in the
same direction. The secretary avows his
conviction that unless this coinage and
the issuance of silver certificates be
suspended, silver is likely ut no
distant day to become our sole metallic
standard The commercial disturbance
and the impairment of the national credit
that woultl be thus occasioned can scarcely
be overestimated hope that the secretary's
suggestions respecting tho withdrawal from
circulation of the 81 and So notes will re-
ceive your approval 1t Is likely that con-
siderable portion Of the silver now incum-
bering the vaults in the treasury might thus
lind its way into the currency. While trade
dollars have ceased, for the present at least.
to be an element OF active disturbance in our
currency system, some provision should be
made for their surrender to the government.
In view OF the circumstances under which
they were coined, and OF the fact that they
have never had legal tender quality, there
should be offered for them only slight ad-
vance on their bullion value. The secretary,
In the course of his report, considers the
propriety OF beautlfying the designs OF our
subsidiary silver coins, and of so increasing
uner WelRnb bndb Iuey may Dedr uuc fdpios
of value of the standard dollar. His conc u
sions In this regard are cordially approved
TAXATION.
In my annual message OF 1882 recon-
mended the abolition of all excise taxes eX-
cept those relating to distilled spirits. This
recommendation is now renewed In case
these taxes shall be abolished the revenues
that will still remain to the government will,
in my opinion, not only suffice to meet It's
reasonable expenditures, but will afford Il
surplus large enough to permit such tariff re-
duction Us may seem to be advisable when
the results of the recent revenue laws and
commercial treaties shall have shown in
what quarters tnese reductions can Do most
the problems which appeal to the wisdom Of
congress for solution Is tho ascertainment of
the most effective means of increasing our
foreign trade, and thus relieving the depres-
sion In which our Industries are now Ian