The Portland daily press., 1886-12-06
FROM WASHINGTON.
Everything In Readiness for the Re-
assembling OF Congress Today.
Congressman Slow In Returning to
Their Posts at Washington.
The Work for the Opening Of the
Session Outlined.
Especial to the Press.)

Especial to the Press)
WAsHINGToS, Dec... 5. Nv The finishing
touches have been put upon everything in
the capital, and everything is in readiness for
the re-asSembling Of Congress tomorrow
noon. Congressman have been rather slow
iu returning and Saturday but small pro-
portion of members were present, but many
arrived during the day, and when the gavel
falls probably most of the members both in
the Senate and the House will be in their
seats. OF the Maine delegation, Senator
Frye arrived Thursday, Representatives
Dlngley and Boutelle and family Saturday
afternoon. Hon. Mr.. Reed is in New York
and is expected Monday. Senator Frye and
Representatives Reed. Boutelle and Dingley,
occupy their old quarters at the Hamilton,
ana Mr.. Milliken is expected at his old place
ON IL street. Little business will be done to-
morrow and both Houses will probably adj
journ after the reading Of the Presidents
message, out of respect for deceased mem
bers.
The Silver Notes.
There is scare over alleged counterfeit
ury officials say these notes are not counter
feited. The trouble is that the paper used in
this issue was very bad, probably the worst
in number of years. and while they are
beautiful specimens when crisp. and new, a
comparatively little handling entirely
changes their appearance. They become
greasy looking, sOiled and extremely doubt
ful'' To an unsKilied eye.
Letter Postage.
A member of the House Committee on
Post Offices and Post Roads is authority for
the statement that there will be no further
to come. Said he: "We are just nov reeoy-
ering from the effects of the reduction from
three to two cents, and Congress will wait
until the effect has entirely disappeared"
Committee Work.
1t is the opinion of a large number of Con-
gressmen who have arrived here that there
will be but limited amount of committee
work performed during the session which
begins next Monday. The time Is so short
ana there is SO much work already on the
calendar that it would be waste OF time to
consider in committee anything except of a
most pressing character.
The House Committee on Appropriations,
according TO Mr.. Randall, Is progressing very
rapidly with its business and should be able
bills before the Christmas holidays. 1t can
not be learned from Mr.. Randall, however,
whether this will be done or not.
The Annual Report of the Treasury.
WASHINGTON, Dec 5-From the United
States Treasurer's annual report it appears
that the net receipts of the government dur
ing the year ended June 30, 1856, were S336,
439, 727, and the net expenditures S242, ,4o3, l3S
The excess of the revenue over the eXpendi-
100
$12, 749, 900 greater and the expenditures $17,-
745,796 less than last year, making the III
crease in net receipts the past fiscal year over
that of 1885 Of $50, 1925 Inc receipts ON
account of the Post Office Department, not
included in the above statement, amounted
10 So. .s97, ,135, an increase Of $685., ,399 over
those Of the preceding year. lne expendl-
ture is increased from S10, ,326, ,314 in 1885 to
0,682, 1856 in 1886, or S356,27l. Bonds Of the
United States amounting 10 S4s, $50 We're
redeemed and applied 10 the sinking fund
Coupons from the bonds OF the United States
amounting to S7,55 ,412 were paid by the AS
sistant Treasurer, Interest amounting to
S42, ,49S, ,637 was paid on registered bonds oil
The United States, including the bonds Issued
To various Pacific railroads.
OF bonds held by the Treasurer of the
United States in trust for national banks
SOL, ,042, 400 were Withdrawn, of which
amounts SGT, 80, 800 was held to secure circu-
lation. and 81, III, ,100 was held as security Tor
deposits Of pubic money The bonds de-
pOsited to replace those Withdrawn on ac-
ccUunt of circulation am0unte1t0 S2U, ,754,yOO,
and un account of deposits S6l7U,0OO, max
ing total decrease Ot S34, ,5OU III bonds
neid by the Treasurer Tor National Banks.
The total movement OF bonds held Tor Ma
liUnal Banks issue of silver certificates dur
ing the year amounted TO S4,6OO,OO0, and
S2o, ,523, ,Y11 were redeemed. Gold certificates
amounting to S1O,1S8,S95 were redeemed.
lhe unavailable funds Of the treasury June
80, 1886, were S2s,52l,3 ,379, decrease Of So
,46 irUm last year Balance IN the treasury
.t the CLOSE OF the fiscal year ending Se,,t.
80, 1886. was SlOU,155,775. an increase over
rsfflt OF 1Ss5- Slti.slh tali.s The available
balance Was S72,91S,l4l, against S0o,9z1,iyf
last year, an Increase O1 Sl3, ,y9U,9 $40
ihe report says that with the extinction OF
the Der cent. bonds, which must take place
daring the ensuing fiscal year, the only
bonds available iOr the purposes OF tue
sinking fund Will be the a and per cent.
bonds. These are now selling at a price
which averages very little more than per
cent. per annum to the purchaser upon cost,
and it may fairly be assumed that this rate
Ot per cent. is the maximum rate to be
earned during the life Ot these bonds AT
The present cost of the collection of the rev.
tnue OF the country, say $3.50 per 500, the
loss ON the existing sinking fund, say S45,-
OOO,0OO per annunl, Will be ST6j,UO0 annually,
assuming per cent. as the best rate which
the bonds can earn. Without discussing the
consequent possible arrangement OF our
existing financial system, II purchases tUr
the sinking fund are TO be maintained at
their present figures Il will be found to be I'M
practicable to make these purchases at such
times and in such manner as 10 relieve the
money market in times OF financial distress,
as these arrangements happen almost IN
yarably at the lime of moving the crops Of
the country. This statement Is equivalent
10 saying that every productive inter-
est in the country must pay toll to
| foreign buyers through a lower range
of prices which obtain Of such times, be-
| cause of the fact that our arrangements for
| the collection and disburslng Of our reve-
| nues are so defective as to need artificial and
| violent remedy in order TO place in active
| circulation the moneys Withdrawn from the
| business Of the country. This method OF
dealing with the pubic money Is not true OF
| any country, but this practical sense OF the
| American people, as shown through its rep
| reSentativeS in Congress, should be adequate
| to find remedy for this constantly recur-
| ring evil, one sure to grow and become more
| burdensome in our future national history.
| This remedy should be found and adopted
| with the coming session Of Congress, because
| the evil complained of will be upon us before
| its next meeting, and the treasury be LEFT
without any means Of supplying the urgent
/ needs Of the country. The Treasurer says
| that by the present method the entire debt
| will be retired by the year 1908. If tn,
| method prOp0sediby the Treasurer be adopt
| ed the debt will be extiDguished by the veal
1918.
Abstract of the Report of Secretar,
Lamar.
The report Of the Secretary of the Interio
| is devoted to "a review of Indian affairs
rings. Mexican land grants, preservation o
public timber, unlawful inclosure of til,
public lands, an interesting letter from S
w. Dorsey, reports of the Pacific railroads
pensions, education, surveys. There wer