Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1888-12-05

| duties have given rise to extended CORES
| pondence with foreign nations with whon we
| have existing treaties Of navigation and com
| meree and have caused wide and regrttable
! divergence Of opinion In relation to the impo.
sitiol Of the duties referred to. The ques.
lions are important and ehail make them a
subject OF special and more detailed commu-
nieation at the present session.
IMMIGRATION.
] With the rapid increase of immigration TO
! our shores and the facilities Of modern travel
abuses OF generous privilege atfoi ded by our
naturalization lave call for their careful re-
1 which certificates of American citizenship can
now be obtained ha, induced class uniortu-
nat ly large, to avail themselves Of the OPP.
poftnnity to become absolyed from allegiance
to their native land and yet by a fore'go resi-
dence to escape any just duty AMI con.ribu-
ton OF service to the country Of their pro
! pos ed adoption, thus while evading the d.
ties of citizenship to the United States they
may make prompt claim for It's
national protection, and demand the inter
| ven,ion In their behalf International CON-
plieationc OF serious nature have arisen and
the correspondence Of the state department
| disclosed-the great number and completely
Of the qualifications which have been raj ed.
Our laws regulating the issue of passports
should be carefully revised and the institution
OF . central bureau of II gistration at the
asttai Is again stTeP gly .ecpxsm cadet. BE-
this means full par'i 'ulsrs OF each case Of
naturalization In the United States would be
secure and properly indexed and recorded
and thus many eases of spurious citizenship
| would be detected and unjust responsibilities
would be avoided. Tue REQ, ganixation Of the
cen 'ular service Is a matter OF serious import
| he to our national interests.
TIE TREASURY.
tnr tn%t l. a..
/ exhibits In detail the condition of our national
finances and the operations of the several
| branches of the government related to this
| department. The total ordinary revenues of
the government for the ifs ,al year ended June
| 30. 1883, amounted to 1919 266, 074 IS, Of
which S2i9,l9l, 173 63 was received from Gus.
toms duties and sl2i, 218, 81 .9S fIom internal
revenue taxes.
The total receipts from all sources exceeded
/ those for the fiscal year ended June 30, 1887,
! by SIS, 627 ,aIll0 The ordinary expenditures
of I'll ii cal year ending June 30, 1855 were
S2o9, $50, 95s 81, leaving a surplus OF $il9 6l2,
/ ll6.t9. The decrease In these expenditures
as compared with the fiscal year ended June
80, 1887, was IS 21S, 220 81, Notwithstanding the
! payment of more Than five million dollars for
| pensions In excess Of what was paid for that
! purpose in the lat r mentioned year. The
| revenues Of the government for the year end
! lug June 81, 1889, ascertained for tn quarter
! eDdicg September 80 1883, and estim ated f1r
! the remainder Of the time. amouat to $97T,-
/ COO ,0O0 and the actual estimated ordinary ex-
penditures for the same year are $213.' o00O0,
! leaving an estimated surplus OF Sl04 900, 10.
| The estimated rtcei1ts for the year ending
! June 80, 1890, are S3f7, 900, 600 and the est
mated ordinary txlepuitures for the same
/ time are $40, 16I, 1884, showing surplus OF
! SOL, 232, 5li CO. The foregoing statements
Of surplus do not take into account the sum
necessary to be expended to meet the require
Inents Of the sinking fund act amounting to
more ian IA 600 annually. The cost OF
collecting the customs revenues for
/ the last fiscal year was . A. per cent.
! for the year 1855 # was 3 - per cent.
The excess of Internal revenue taxes col
lected during the last fiscal year over those
collected for the year ending June 30, 1881,
/ WAS 5 4So, li4.2i, and the cost of collecting
! this rev nue. decreased from q per cent. In
/ 1887 to less than x per cent, Tor last year.
/ The tax collected on oleomargarine was SI23.-
/ 54s.c4 for the year ending June 80; 1885, and
sl6i, 1888 for the following year. The re-
quiements OF the sinking fund act have been
! met for the year ended June 30, 1885, AMI for
! the current year also by The purchase II bonds.
/ After complying with this law, as positively
+ required. and bonds sufii .ient for that pur-
! pose had been bought at premium, 1t was
/ not deemed prudent to further expend the
{ surplus In such purchases until the authority
I to do so should be more explicit.
A resolution, however, has been
passed by both houses OF congress
I removing all doubt as to executive authority,
! the daily purchases Of bonds were com nenced
! on the 23i day OF April, 1889, and have con-
unued untii the present time. BY this plan
I tonds OF the government not yet due have
been purchased up to and including the Both
! Of November 1883 amounting to s94, 700, 400,
! the premium paid thereon amounting to
/ SIT sos 6l3 o. The premium added to the
! principal OF these bonds represents an invest
ment yielding about 2 per cent. interest for
! the time they still had to run and the saving
to the government represented by the differ.
ence between the amount of interest at 2 per
! cent. upon the sum paid for principal and pre-
MUM aud what it would have paid for inter-
est at the rate specified on the bonds IL they
had run to their maturity, is about 81, 1861
| 0oo, AT first sight this would seem to be
| Profitable and sensible transaction on the part
/ of the government, but rs suggested by
! the secretary of the treasury, the surplus
! thus expended for the purchase Of bonds was
| money drawn from the people in excess Of
any actual need OF the vernment and was
| so expended rather than allow 1t to remain
! idle. II this surplus under the operation Of
| just and equitable laws had neen left in the
| hands Of the people 1t would have been worth
| in their business at least per cent. per an
mum, deducting from the amount OF interest
| on the principal and premium Of these bonds
| Tor the tire they had to run at the rate of g
| percent. the saving of per cent made for
the people by the purchase Of such bonds, the
loss will appear to be $55 769 800. This cal
culation would seern to demonstrate that IL
| excessive snd unnecessary taxation Is con-
! tinued and the government is forced to pur
sue this policy of purchasing its own bonds
at the premiums which 1t will be necessary to
| pay, the loss to the people will be hundreds
| OF millions of dollars. Since the purchase of
| bonds was undertaken as mentioned, nearly
/ all that have been offered were at last sc
cepted. 1t has been made quite apparent that
| the government was in danger Of being SUBJ
| jected to combinations to raise
their price, as appears by the instance
| cited by the secretary Of th- offering OF bonds
| at the par value OF only 1926 900 so often that
the aggregate OF the sums d. mauded for their
| purchase amounted to more than $l9, 100000.
/ Notwithstanding the large sums paid cut In
the purchase Of bonds the surplus In the treas
ury on the 30th dag OF November, 1SSs, was
| s52, 234 610 OIL after deductiug about e. 0o0,-
| GOO just drawn out for the payment Of pen,
| sions. At the close Of the fiscal wear ended
June 30, 1887, there had heen coined under
| the compulsory silver coinage act 1866 9SS, $50
Ia silver dollars, f5s ,5o4, $40 Of VIII b were in
the hands OF the people. On the 3 til day Of
June, lSsS, there had been coined S299 7fS 100
and OF this $55, Se9, BOB was In circulation In
coin aud $500, 1851 37d in silver certificates for
| the redemption II which silver dollars 30 that
amount were held by the government. On
the 30ih day OF November, 1883 s3l2 ,t75, 800
had been coined, OF which 81 ,975 900 of the
silver dollars were actually 10 circulation and
S'37, AIS, 346 In certificates. The secretary re-
commends the suspension of the fur her coin.
age of silver and In such recommendation
earnestly concur For further valuable in.
formation ana timely recommendation ask
the careful attention Of the congress to the
| secretary's report
THE WAR DEPARTMENT..
The secretary Of war reports that the army