Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1888-12-13

| gether with convention concluded under my
| authority with Her Majesty S Government on the
| 10th OF February last, for the removal OF nj
| causes OF misunderstanding, was submitted BIZ
me for the approval of the Senate. This treaty
having been rejected by the Senate, trans
the ssd Of August last revie nssss the Ss
| transactions and submitting TOR considers
ton certain recommendations for leg
involved Afterwards, on the 12th of Septem
Der, In response to a resolution OF the Senate,
| again communicated fully all the informa
ton In my possession as to the action of the
government of Canada affecting the CONNER.
| cial relations between the Dominion and the
| American fishing vessels in the ports and
waters Of British America The communica.
| lions have all been published, and therefore
of Congress, although two were addressed
| to the Senate alone. Comment upon
or repetition Of their contents would be super,
| fluous, and am not aware that any thing has
since occurred which should be added to the
| facts therein stated Therefore, / merely re-
| peat, applicable to the present time, the
statement which win be found in my message
| to the Senate of September IL last: 'sThat
| since March 3, 1887. no case has been reported
| to the Department of State wherein complaint
has been made OF unfriendly or unlawful
treatment of American vessels the part
OF the Canadian authorities, in which repara-
ton was not promptly and satisfactorily OBJ
tanned by the United States Consu-General at
Halifax" Fl wing essayed in the discharge of
my duty to procure by negotiation the settle
ment of a long-staudng cause OF dispute, and
to remove constant menace to the good rela-
tons or the two countries, and continuing to
hold the opinion that the treaty CT February
last, which failed to receive the approval of
the Senate. did supply "a satisfactory, prac-
and just to both parties of the difficult and
vexed question to which it related and hav-
ing subsequently, and unava;llngly recommend
ed other legislation to Congress which I hoped
Sntt1ce pyippncv crpltp6
the rejection of the treaty now again invoke
the earnest and immediate. attention of the
question as it now stands before them and the
country, and for the settlement of which I am
deeply solicitous.
GOVERNMENT REVENUE
The revenues of the Government for the year
ending June Sd, 1892, ascertained for the quarter
ended September 80 1885, and estimated for the
remainder of the time. amount to 1871, obs, 00),
and the actual and estimated ordinary expen-
ditures for the same year are S273,0O0.a00 leav-
ing an estimated surplus of S104.0J0,000
The estimated receipts for the year ending
June go 1890. S37.. 900. co., and the estimated
s275, 76T, 1884, showing surplus of s101 49,
511. 81. The foregoing statements OF surplus do
not take into account the sum necessary to be
expended to meet the requirements of the
Sinking Fund act, amounting to more than
Si1,0)O,O0 annually. The cost of collecting the
customs revenues for the last fiscal year was2.
per cent: for the year 1885 it was 81 per cent.
The excess of internal revenue taxes collect
ed during the last fiscal year those collect
81.
ia %, and the cost of collecting this revenue
decreased from "a per cent in 1887, to less
than BE- per cent. for the last year. The tax
collected on oleomargarine was 1923, 9iS. OF for
the year ending June 3d. 1887; and 1854 139 s. for
the following year.
THE BOND PURCHASES.
The requirements of the Sinking Fund act
have been met for the year ended June 30,
1888, and for the current year also. by the
purchase of bonds. After complying with this
law, as positively required, and bonds sufti-
cient for that purpose had been bought at
premium, it was not deemed prudent to further
expend the surplus in such purchases until
the authority to do so should be more explicit.
Daily purchases Of bonds were commenced on
the I'D day of April, 1893. and have continued
the Government not yet due have been pur-
chased, up to and including the 9th das of No
vember. 1883. amounting to s94.IJ,in0. the
premium paid thereon amounting to S17,50S
6l3. oS.
The premium added to the principal of these
bonds represents an investment yielding about
two per cent interest for the time they still
had to run: and the saving to the Government,
represented by the difference between the
sum pal for prlnc'p and premium, and what
it would have paid for interest at the rate spec-
fed IN the bonds, if they had run to their ma
turity. is about SCI, 5000.
AT first sight" says the President, "this
would seem to be profitable and sensible
transaction on the part of the Government,
but as sug ,ested 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
Government, and was so expended rather than
allow it to remain idle in the treasury. II this
surplus, underline operation of just and equita-
BILE laws, had been left in the hands of the
peaple, it would have been worth in their
bus ness Mt least six per cent per annum
Dsduct1nS from the amount OF interest upon
the principal and premium of these bonds for
the time they had to run, at the rate of six per
cent, the saving of two per cent. made for the
people by the purchase of such bonds, the loss
will appear to be 55,76D,0,0. This calculation
would seem to demonstrate that if excessive
icy of purchasing its own bonds at
the premiums. which it will be neces-
will be hundreds of millions of dollars. Since
the purchase of bonds was undertaken as men
toned nearly all that have been offered were
at last accepted. 1t has been made quite APP
parent that the Government was in danger of
being subjected to combinations to raise their
the surplus in the treasury on the 3Oth OF No
vember, 1888 was Sj2 pa, @. o. after deducting
about s2),pOo0O just drawn out for the pay
ment of pensions.
THE WAR DEPARTMENT..
The Secretary OF War reports that the army,
at the date of the last consolidated returns.
men. The actual expenditures of the War De-
partment for the fiscal year ended June 81, 1888.
amounted to sil, l6,, 1o07, OF which sum ~, 15s,
5l4.63 was expended for public works, including
river and harbor improvements.
We shall have our own gun factory next
year. Civil-Servicc reform is recommended
for the army service. General sheridan's
death is lamented an irreparab!e loss.
Eighty-three men, 10 women, 20 boys and SO
girls, all Ind ans, are held as prisoners of war.
The Indian schools are doing nicely.
PENSIONS REDUCE THE SURPLUS.
The number OF pensioners added to the rolls
during .ne fiscal year ended June 30. 1888, is
s ,252, and increase of pensions was granted in
s. 7I6 cases. The names of 5.13) pensioners
we're dropped. The number of persons receiv-
ing pensions was 452,557: of these there
were SIS survivors of the war of 1912;
l07s7 widows OF those who served in
that war: 16,06) soldiers of the Mexican war
and 5.1O4 widows of said soldiers. One hundred
ana two different rates Of pensions are paid to
these beneficiaries, ranging from 81 to S416 IS
ing the fiscal year was S7S.1t5,S %, bein an
increase over the preceding year OF x5,3jS. 2So2e.
The expenses attending the maintenance and
operation of the Pension Bureau during that
period were 81, 70 '.524 81, making the entire
penditures of the bureau $S2,njS,3s6. 81, being
51's per cent. of the gross income and nearly Il
per cent. of the total expenditures of the Gov
during the year.
Il am thoroughly convinced that our general
pension laws should be revised aud adjusted to
meet as far as possible in the light of our eX-
all neritorious cases." says Mr..
Cleveland. 1.-THE fact that 1t2 different rates
Of pensions are paid can not, in my opinion, be
made consistent with justice to the pensioners
Or to the Government. and the numerous pri-
vate pension bills that are passed predicated
upon the imperfection of general laws while
they increase, in many cases; existing inequal-
the recommendation for revision of
the general laws on this subject"
THE NAVY.
The reconstruction of the navy is being
push d forward rapidly. The Charleston, Bal
timore Yorktown. Vesuvius and Petrol are in
the water ami rapidly approaching comrletion.
The Philadelphia, San Francisco, Newark,
Bennin gton, Concord and the Herreshoff tor
Dedo boat are under contract. Eleven vessels
in at will be incorporated in the American
navy within the next twelve months.