The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1886-12-10

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 present
| sub-treasury system, as rendered necessary
| by the financial changes in the country, the
| Treasurer saws:
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 viii be ~ and
! 4 per cent. bonds. These are now sell
| ing at a price which averages very little
more than per cent. per annun to the pur-
chaser upon the cost, and it may fairly be
assumed that this rate OF per cent. Is me 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 s. per 500 the
loss on the existing sinking fund. say 5000 O00
per annum, viii be s765 0oo annually, assuming
2 per 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 to be impracticable to make these pur-
chases at 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
| 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 to need an artifi-
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i've circulation the moneys withdrawn from the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 ,016 The amount OF
silver certificates nominally outstanding at
| the close of the fiscal year was S115 81, 675,
of which amount the treasury held $27, $751;
$50, leaving $50, 1862 in actual circula-
| ton, decrease of S13, III 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 S105, 519,S17. There
| is now in circulation S61, 761, AS in silver
| dollars Discussing the question of silver
| coinage, the Treasurer says he thinks that
| S65, 100000 is the extreme limit Of circula-
| ton which may be obtained. 1t certainly
can not be maintained at that sum when
the new silver 81 and So certificates are in
full supply, and return to the treasury of
| one half of the amount of standard dollars
now in circulation must be looked foI.
THE WAR DEPARTMENT.
WASHINGTON, Dec 6.-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 80, 1886, were S36 49,, 1903,
divided as follows: Salaries and contin-
gent expenses, 1892, 469; military estab-
| lishment, including transportation, s24, 279,.
| 500; public works, Sc, 294 305; miscellaneous,
| 81, 1865 A surplus of 81 ,208,0 16 remained
| unexpended. The appropriations for
the year ending June 80, 1887, are SAC, 0S7,-
| $50, and the estimates for the year ending
June 80, 1888, are S48269, 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 595,
| and 2,003 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 Secretary
| says
"There seems to be little hope of improving
this condition of things, in view of the avidity
with which this fertile country is coveted by the
settlers and the cattlemen, and the duty resting
upon the Government to keep it's agreements
with the Indians for whose benefit it has been
! set apart Congress alone can give the needed
remedy, and in the interest of good govern
ment it is earnestly hoped by allwho have ex-
ecutive duties to perform IN this Territory that
| speedy action will be taken.''
| A large portion of the report is given up
| to d graphic account of the operations
against Geronimo and his band and *heir
| final incarceration in Florida, the leading
| features of which have been published
heretofore.
The Secretary recommends that tire re-
tired list be increased so as to include all
officers permanently incapacitated for
| 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 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, carbines and
| shot-guns, besides repairing arms and man
ufacturing swords and miscellaneous arti.
cles. The Secretary expresses 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 a
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 the salaries of the principal
officers in the Secretary's office be in
creased.