The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1886-12-16

ended September 80, 1854, was t1OO, ,O55, 775
an increase over that Of 1885 of &l6,Sl6,-
688 The available balance was $72, ,8l3, ,141,
against &5s, ,g22, 191 last year, an increase Of
t13, ,98O, ,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 assaying and coinage Of
the bullion placed in ttnair charge.
On the subject Of altering the present
sub-treasury system, as rendered necessary
by the financial changes in the country, the
Treasurer says:
with the extinction Of 3 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 ut a price which averages very little
more than per cent. per annum to the pur-
chaser upon the cost, and It may fairly be
assumed that this rate OF 2 per cent. is the max
mum rate to be earned during the life of these
bonds. At the present cost Of the collection of
the revenue Of the country. say 49, 20 per $l00. the
loss on the existing sinking fund. say $i5,OOOOO0
per annum, will be s7G5,OOO 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 the purchases for the sinking fund are to be
maintained ut their present figures it will be
found to be impracticable to make these pur-
chases ut such times and in such manner as to
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
ut such times because of the fact that our ar
rangements for collecting and disbursing our
revenues are so defective to need an artif-
cial 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i've circulation the moneys withdrawn from the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 S346, ,6s1,0 ,016. The amount of
silver certificates nominally outstanding at
the close of the fiscal year was S115, ,g77 6775,
| of which amount the treasury held sci, SOL
$50, leaving sSs, ,1l8,225 in actual circula-
tion, a decrease of $l3,4l4,T2l during the
year. This amount has since been
added to by the demands of
business, so that the amount in circu-
lation November 30 was slO5, ,5l9,S17. There
| is now in circulation $61, ,76l, AS in silver
| dollars. Discussing the question of silver
| coinage, the Treasurer says he thinks that
S85 OOO,ON is the extreme limit of circula-
! ton which may be obtained It certainly
can not be maintained at that sum when
the new silver 81 and 81 certificates are in
full supply, and q 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. 6.-The annual report
publication to-day, shows that the ex-
penditures Of the department for the fiscal
year ended June 3d. 1886, were s3G, ,99O, ,903,
divided as follows Salaries and ccutin-
| gent expenses, 81 ,992, 469; military estab.
| lishment, including transportation, S.4 go
500; public works, 81, 2294 3O5; miscellaneous,
81, ,4D6 ,627. A surplus of 81 POS Ol6 remained
unexpended. The appropriations for
the year ending June 30, 1887, are SAG, ,027, ).
$50, and the estimates for the year ending
June 30, 1888, are S4S, ,26S. .S35. The army at
the date of the last consolidated return
consisted Of 2,103 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 sos
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 Secretai y
says:
A large portion of the report is given W
| to graphic account of the operations
against Geronimo and his band and theil
final incarceration in Florida, the leading
features of which have been published
heretofore.
The Secretary recommends that the re-
tired list be increased so as to include al
officers permanently incapacitated fol
active service. He also cOncurs in the
opinion OF the Lieutenant 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 HI
urges that appropriations should be made
and work begun at once to fortify thu
principal seaboard cities against attacks by
water.
During the year the Springfield armory
manufactured 81, ,527 rifles, carbines ant
shOt-guns, besides repairing arms and man
ufacturing swords and miscellaneous arti
cles. The Secretary expresses a hope tina,
Congress, during its present session, will
place the army on an equal footing with th'
navy in the matter of the manufactur,
Of guns, and urges that the bill, which ha
already passed the Senate, to establish
gun foundry at the Frankfort arsenal, b.
taken up and passed by the House.
In conclusion, the report recommends thu
appointment of an assistant Secretary o
War and that the salaries of the principa
officers in the Secretary's Office be in