The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1888-12-08

| nuturc arise, hnu tne Correspondence Ot Tue
State Department discloses the great number
and complexity Of the questions which have
| been raised.
Our laws regulating the issue OF the pass
ports should be carefully revised, and the insti.
tuition OF central bureau OF registration at
the Capital Is again strongly recommended.
BY this means full particulars of each case OF
naturalization In the United States would be
secured and properly indexed and recorded
and thus many cases OF spurious citizen
ship would be detected, and unjust re-
sponsblities would be avoided The re-
| organization OF the consular service Is
| matter OF serious Importance to our National
| interests The number OF existing principal
consular offices is believed to be greater than is
| ut all necessary for the conduct OF public BUS
iness. 1t needs not alter our policy TO maintain
| more than n moderate number of principal
oflices each supported by a salary sufficient to
enable the incumbant to live In comfort ana so
| distributed as to secure the convenient super
vision, through subordinate agencies, OF afairs
| over considerable district
| 1 repeat the recommendations heretofore
| made by me, that the appropriations for the
maintenance OF our diplomatic consular service
| should be recast, that the so-caled notarial or
| unofficial fees which our representatives abroad
| are now permitted to treat as personal pcrqui-
| Sites should be forbidden; that q system OF
consular inspection should be instituted, and
| that limited number OF Secretaries OF Lega-
| tion at Large should be authorized
Preparations for the Centennial celebration,
on April 30, 1889, of the Inauguration Of George
| Washington, as President of the United States.
| ut the city Of New York, have been made by a
| voluntary organization of the citizens OF that
| locality, and believing that an opportunity
| should be afforded for the expression OF the in.
| terest felt throughout the country in this event.
I respectfully recommend fitting and co-opera-
| tive action by Congress on behalf OF the people
| Of the United States.
The report OF the Secretary Of the Treasury
exhibits in detail the condition OF our National
finances and the operations of the several
branches OF the Government related to his de-
| partment
| The total ordinary revenues OF the Govern
ment for the fiscal year ended June 30 1888
amounted to 1913. .26S, ,074 76, OF which Se19,0o1-
| 1T3 63 was received from customs duties and
1924 2o6 81 0s from internal revenue taxes
The total receipts from all sources exceeded
| those for the fiscal year ended June co. 1884, by
$780,, 1910. The ordinary expenditures OF the
fiscal year ending June 80, 1888, were $s5o, 653
| 95S.67, leaving surplus of $I19,612, 1850.
The decrease in these expenditures as COM
pared with the fiscal year ended June 30, 1887.
was IS 97s, 80, notwithstanding the payment
| OF more than five million dollars for pensions
| in excess OF what was paid for that purpsse In
| the latter mentioned year.
The revenues Of the Government for the year
ending June 80 1889, ascertained for the quarter
| ended September 80, 1888, and estimated for the
| remainder OF the time amount to 1871, 900 600,
and the actual and estimated ordinary expendi-
lures for the same year are s273 900 co leaving
an estimated surplus OF Sl04,0OO,OOO
The estimated receipts for the year ending
June 30, 1890, S377 000, ,0O0 and the estimated
ordinary expenditures for the same time are
s2T5 TG7, 1884, showing surplus Of S101 2S,-
51166
The foregoing statements OF surplus do not
fn1y tat@a 1, tn n nv
pended to meet the requirements OF the sink
ing-fund act, amounting to more than Si7, 10000
annually.
The cost of correcting the custom revenues
for the last fiscal year was 2.44 per cent; for
the year 1885 it was 3.T per cent
The excess of internal revenue taxes col
lected during the last fiscal year over those col
lected for the year ended June 30, 1887, was
5,4S0, 20 and the cost of collecting this rev.
enue decreased from per cent. in 1887, to less
than 32 per cent for the last year. The tax
collected on oleomargarine was s123ois. Oh for
the year ending June 3d. 1887, and sSGi, 1soss for
the following year.
The requirments OF the Sinking Fund Act
have been met for the year ending June 30
1888, and for the current year also by the pur-
chase OF bonds. After complying with this
law, rs positively required, and bonds sum-
cient for that purpose has been bought at q
premium, IL was deemed not prudent 10 fur
til the authority to do so should be more ex-
plicit. A resolution, however having been
passed by both Houses of Congress removing
oil doubt as to executive authority, daily pur-
chases OF bonds were commenced on the 23d
day of April, 1883 and have continued until
the present time. BY this plan bonds of the
Government not yet due have been purchased
up to and including the Goth day of Novem-
ber, 1888 amounting TO s94 400, the pre-
MUM paid thereon amounting to sl75OS-
613.Os.
The premium added to the principal OF these
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
amount of interest at two per cent.
upon the sum paid for the princi-
pal and premium and what 1t would have paid
for interest at the rate specified on the bonds II
they had run to their maturity is
about s27,165,00O At first sight
this would seem to be prof
liable and sensible transaction on the part
OF the Government but as suggested by the Sec
retary OF the Treasury, the surplus thus OK
pended 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 to allow 1t to remain idle in the
Treasury. II this surplus under the operation
OF just and equitable laws had been left In the
hands OF the people 1t would have been
annum. Deducting from the amount Of inter-
est upon the principal and premium Of these |
bonds for the time they had to run at the rate OF
6per cent. the saving Of g per cent made for the
people by the purchase of such bonds, the loss |
will appear TO be 557GO,0O. |
This circulation would seem to demonstrate |
that II excessive and unnecessary taxation Is /
continued and the Government is forced to /
pursue this policy OF purchasing its own bonds /
at the premiums which It 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 accepted 1t has been made quiet |
apparent that the Government was In danger |
Of being subjected to combinations to raise |
their price, as appears by the instance cited by |
the Secretary Of the Offering oi bonds of the par
value OF only s326, 900 so often that the aggre-
gate OF the sums demanded for their purchase |
to more than s10,7O0,0O0
Notwithstanding the large sums paid out In
the purchase of bonds, the surplus in the Treas
ury on the 30th day of November 1885, was s52,-
,3i,600l. After deducting about SEQ 900, 900 just
drawn out for the payment OF pensions at the
,lose OF the fiscal year ended June 30 1885,
here had been coined under the compulsory
silver coinage act $3.50, 0SS, $50 in silver dollars
R55, ,504 $40 of which were In the hands OF the
people. On the 3Oth day OF June 1888, there
lad been coined s299.T0S790. and OF this s55,.
go 30J was in circulation in coin and 500 37, ,37G
n silver certificates, for the redemption of |
which silver dollars to that amount were held
)y the Government.
On the 31th day OF November, 1888, $3I2, go.
30 had been coined; $50, ,070, 900 OF the silver
lollars were actually in circulation, and $23,T-
la, 3i6 in certificates.