Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1886-12-11

June 30, 1896, wera k?9,S1,393 de 'rease Of
IS, ,9i6 from last ear. The halaI &c in the
treasury at the close ef tAe year
ended September 30, 1888, was t0,055, ,T75,
an increase over that of 1885 Of Sl6,Sl
$685. The available balance was S2 9l3, l4l,
against S5S, ,922, l9l last year, an increase Of
sl3,s ,9i9. 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 assaying and coinage Of
the bullion placed in their charge.
On the subject of altering the presen.
sub-treasury system. as rendered necessary
by the financial changes in the country, the
Treasurer says:
with the extinction OF 8 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 AZ and
per cent bonds These are now sell
ing at a price which averages very little
more than per cent per annum to the pur-
chaser upon the cost, and IL may fairly be
assumed that this rate OF 2 per cent is the max.
imum rate to be earned during the life OF these
bonds. At the present cost OF the collection OF
the revenue OF the country, say 80, 7oper s0O the
loss on the existing sinking fund, say SIS, ,000,0b0
per annum, will be s,G500 annually, assuming
2per cent. as the best rate which the bonds can
earn.
without discussing the consequent possible
arrangement Of our existing financial system
If the purchases for the sinking fund are to be
maintained at their present figures it will be
found 10 be impractcable 10 make these pur
chases at such times and In such manner as 10
relieve the money market in times OF financial
distress. AS these arrangements happen almost
invariably at 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
at such times because Of the fact that our ar.
rangements for collecting and disbursing our
revenues are so defective as 10 need an artt-
cal 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i've circulation the moneys withdrawn from the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 s3iG,6Sl,0 ,0l6 The amount Of
silver certificates nominally outstanding at
the close of the fiscal year was Sis, ,917675,
of which amount the treasury held 81, ,S6l,-
$50, leaving sSS, 1925 in actual circula-
tion, decrease of Sl3,4l472l during the
year, This amount has since been
added to by the demands Of
business, so that the amount in crcu-
latlon November 80 was Sl05 5l9Sl7. There
| is now in circulation sol ,i6l, 44S in silver
dollars. Discussing the question of silver
coinage, the Treasurer says he thinks that
So 000,00 is the extreme limit of circu a.
| ton which may be obtained. 1t certainly
can not be maintained at that sum when
the new silver 81 and - 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 The annual report
of the Secretary Of War, furnished fox
publication to-day, sh )ws that the ex-
penditures of the department for the fiscal
year ended June -, 1856, were s36,99J,9B
divided as follows: Salaries and contin
gent expenses, 1892, $50; military estab
lishment, including transportation, S24, ,219,
50J; public works, 50, -.94 3o5; mi5ce !aneous
s4,46621 A surplus of Sl,20s, ,0l6 remained
unexpended. The appropriations fol
the year ending June 30 1857, are Si6,G27,
s59, and the estimates for the year ending
June -, 1883, are SIS, ,26., S3j. The army a
the date of the last consolidated return
consisted of 2,l03 officers an1 1886 en-
listed men, There are ten regiments o
cavalry, five of artillery and twenty-five o
infantry. OF Indian scouts there are j9j
and 2C03 enlisted men are on detached serv
ice with recruiting parties, etc.
The report gives in detail the change
and operations CT the different divisions
The Indians are generally quiet although
the presence of troops is necessary to pre-
! n .
the Oklahoma country. the seizure of th
land by sett ers and its invasion and occu
pancy by herders of cattle. The Secreta
says:
4 large portion Of the report is given u
to a graphic account OF the operations
against Geronimo and his band and thei
final incarceration in Florida, the leadin!
features of which have been publishe,
heretofore.
The Secretary recommends that the re
tired list be increased so as TO include al
officers permanently incapac!tited fo
active service, He also concurs in th'
oplnion of the Lieutenant General that the
army be increa sed 5000 men.
In discussing the report of the Engnee
Bureau Secretary Endicott again calls at
tentlon to the utterly defenseless condition
of our sea coast and lake frontier. II,
urges that appropriations should be mad
and work begun at once 10 fort fy th'
principal seaboard cities agL..st attacks b,
water.
During the year the Spric 1field nrmor,
manufactured 3q,527 rifles, carbin9s ant
shot-guus, besides repairing arms ard man
ufacturing swords AMI miscellaneo is arti
cles The Secretary expresses hone tha
Congress, during its present session, vii
place the army on an equal footing " lth th'
navy in the m liter OF the manu- actur,
of guns, and ur ;es that the bill, winch has
already passed the Senate, TO establish {
gun foundry at the Frankfort arss nal, b.
taken up and pissed by the House.
In conclusion, the report recommends The
appointment Of an assistant Secr ,ary o
War and that the salaries of the princlpa
officers in the Secretary's Office be in
creased.