The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1886-12-18

ended September 80, 1884, was sioo,o55 ,775
an increase over that OF 1896 Of $18,sl5,-
&c. The available balance was t72,9l3,141
against $5S, ,922, ,19i last year, an increase OF
S13,990,949. The Treasurer suggests that
the large sums held by mints and assay
offices be placed in the actual custody OF the
treasury, and the duties OF the mint officers
be confined to the assayng and coinage Of
the bullion placed in their charge
On the subject of altering the present
sub-trcasury system, as rendered necessary
by the financial changes in the country, tho
Treasurer says:
with the extinction OF per cent. bonds
which must take place during the ensuing fiscal
year. the only bonds available for the pur-
poses OF the sinking fund will be ~ and
per cent bonds. These nre now sell
ing at o price which averages very littlo
more than per cent per annum to the pur.
chaser upon the cost, and II may fairly bo
assumed that this rate OF per cent. is the max
imufn rate to be earned during the life OF these
bonds At the present cost Of the collection OF
the revenue OF the country, say 3d. 7Oper 800. the
loss the existing sinking fund.- say Si50O0,ODO
per annurn, will We s765,OO0 annually, assuming
2 per cent. as tn best rate which the bonds can
earn.
"Without discussing the consequent possible
arrangement of our existing financial system
maintained at their present figures II will be
| found to be impractcable to make these pur-
chases at such times and in such manner us to
relieve the money market In times of financial
| distress. As these arrangements happen almost
invariably ut the time of the moving of the crops
of the country, this statement Is equivalent to
| saying that every productive interest in the
country must pay toll to foreign buyers
| through the lower range of prices which obtain
| ut such times because Of the fact that our ar
rnngements for collecting and disbursing our
revenues are SO defective as to need an artih-
cinl and violent remedy in order to place in act
| i've circulation the moneys Withdrawn from the
| business of the country"
The total amount of United States notes
outstanding is S3i6,6s1 s1,0l6. The amount of
silver certificates nominally outstanding at
the close of the fiscal year was S1l5, 0T7, ,615,
of which amount the treasury held s27, ,s6l,-
$50, leaving $Ss,ll6,225 in actual circula-
ton, a decrease of ,12l during the
year This amount has since been
added to by the demands of
business, so that the amount In crcu-
lation November 30 was slO5 5l9,S17. There
is now in circulation $3l, ,T6l AS In silver
dollars. Discussing the question of silver
coinage, the Treasurer says he thinks that
S65, 0O0,Oo0 is the extreme limit of circua-
tion which may be obtained. 1t certainly
can not be maintained at that sum when
the new silver 81 and 81 certificates are in
full supply, and a return to the treasury Of
one half Of the amount of standard dollars
now in circulation must be looked foL.
THE WAR DEPARTMENT..
WASHINGTON, Dec. 8-The annual report
Of the Secretary Of War, furnished for
publication to-day, shows that the ex-
penditures of the department for the fiscal
year ended June 3d. 1885, were S:6 900, ,903,
| na
gent expenses, l,991, 400; military estab-
lshment, including transportation, s2i,279,- :
500; public works, s6, ,29i, ,305; miscellaneous,
81 ,406,627. A surplus of 81 POS ,0l6 remained
unexpended The appropriations for
the year ending June 30, 1887, are s4G,027,.
$50, and the estimates for the year ending
June 30, 1883, are s4S, ,26s, ,s35. The army at
the date of the last consolidated return
consisted Of 2103 officers and 23,946 en-
listed men. There are ten regiments of
cavalry, five of artillery and twenty-five of
infantry. OF Indian scouts there are 595,
and 1908 enlisted men are on detached serv-
ice with recruiting parties, etc.
The report gives in detail the changes
and operations CT the different divisions.
The Indians are generally quiet, although
the presence of troops Is necessary to pre-
serve peace and to prevent, especially in
the Oklahoma country, the seizure of the
land by settlers and its invasion and Occu-
pancy by herders of cattle. The Secretaiy y
says:
A large portion of the report is given up
TO graphic account of the operations
against Geronimo and his band and their
final incarceration in Florida, the leading
features of which have been published
heretofore.
The Secretary recommends that the re-
tired list be increased 30 as to include all
officers permanently incapacitated for
active service. He also concurs in the
opinion OF the Iieutenaht-G General that the
army be increased 5000 men.
In discussing the report of the Engineer
Bureau Secretary Endicott again calls at
tention to the utterly defenseless condition
OF our sea coast and lake frontier. He
urges that appropriations should be made
and work begun at once to fortify the
principal seaboard cities against attacks by
water.
During the year the Springfield armory
manufactured 39,527 rifles, carbnes and
shot-guns, besides repairing arms and man
ufacturing swords and miscellaneous arti.
cles. The Secretary expresses a hope that
Congress, during its present session, will
place the army on an equal footing with the
navy in the matter of the manufacture
of guns, and urges that the bill, which has
already passed the Senate, to establish q
gun foundry at the Frankfort arsenal, be
taken up and passed by the House.
In conclusion, the report recommends the
appointment of an assistant Secretary OF
War and that tho salaries of the principal
officers in the Secretarys Office be i'll
crpaSpd.