The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1888-12-06

| And complefity OF the questions winch nav
been raised.
Our laws regulating the issue OF the pass
ports should be carefully revised. and the inst
tuition OF central bureau OF registration
the Capital Is again strongly recommended
By this means full particulars OF each case @
naturalization in the United States would b.
secured and properly lndexed and recorded
and thus many cases OF spurious citizen
ship would be detected, and unjust re
| sponsibilities would be avoided. The re
| organization OF the consular service Il
q matter OF serious importance 10 our Nationa
Interests. The number OF existing prtncipa
consular ofices Is believed 20 be greater than II
Mt all necessary for the conduct ofpublic bus
mess II needs not alter our policy 10 MAINTAIN
more than moderate number OF prineipa
Offices each supported by salary sufficient Il
enable the incumbant TO live IN comfort and SC
distributed as 10 secure the convenient super
vision, through subordinate agencies, Of anairs
over considerable district.
l repeat the recommendations heretofore
made by me, that the appropriations for The
| maintenance OF our diplomatic consular service
should be recast, that the socalled notarial OF
unofiicialfccs which our representatives abroad
are now permitted TO treat as personal perlui
Sites should be forbidden; that system OF
consular inspection should be instituted, and
that limited number OF Secretaries OF Lega'
ton at Large should be authorized
Preparations for the Centennial celebration
on April 30 1889, OF the inauguration of q gorge
Washington, as President OF the United States,
at the city OF New York, have been made by 4
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
/ respectfully recommend fitting and co-opera'
tive action by Congress on behalf VI 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 10 his de
partment
The total ordinary revenues OF the Govern
ment for the fiscal year ended June 81 iSSs
amounted TO ts5a 9sS O74 20, OF which sal909l.-
l'a 81 was received from customs duties and
si2t 1851 . from internal revenue taxes,
The tota. receipts from all sources exceeded
those for the fiscal year ended June 20 1885,, by
shs62'95. 10. The ordi nary expenditures OF the
fiscal year ending juno %, issS, were s25a G5S.-
~ss7, leaving surplur OF sii9Gis ilsoe.
The decrease in these expenditures as com
pared with the fiscal year ended June 70, 1851
was tSsISs2i.3o notwithstanding the payment
OF more than hvo million dollars for pensions
in excess OF what was paid for that purpose IN
tho latter mentioned year.
The revenues ofthe Government for The year
ending June ~, 1854 ascertained for the quarter
ended September 81. 1883. and estimated for the
remainder OF the time amount TO s3s7 ,o10 600
and the actual and estimated ordinary expondi.
lures for the same year are s2;a Ool. 90 leaving
an estimated surplus OF ti0L0OOo0
The estimated receipts for tho year ending
June 81 1870, are s5s7 900. and the estimated
ordinary expenditures for the same time are
IRA e1,'sslsi, showing surplus OF SOL IA
5ii.G
The foregoing statements OF surplus do not
take into account the sum necessary TO he ex.
pended TO meet the requirements OF the sink
lngfund act, amounting 10 more than so .Dooooo
ANNUALLY.
The cost OF correcting the custom revenues
Tor the last nsea year was aH per cent; for
the year isso II was Az per cent
The excess OF internal revenue taxes col.
ected during the last FISCAL year over those col
ected for the year ended June ~, isSs was
Z. ts9,fat 20 and the cost of collecting this rev
'nue decreased from per cent " iss7. to less
han 3sper cent for the last year The tax
objected on uleomArYarinc was t7ss as % for
he year ending June 3lisss. and ssSli . ~ for
he following year
The reqgirments OF the Sinking Fund Act
ave been met for the year ending June 20
~ and for toe ourrent year also By the pur,
base OF bonds. After complying with this
aw' As positively required, and bonds sun
lent for that purpose has been bought at |
remium. u was deemed no, prudent 10 fur.
her eEpend the surplus In such purchases IN,
i the authority 10 do so should be more eH /
lieit. A resolution. however having been /
assed By both Houses Of Congress removing /
u doubt a. 70 executive Authority. daily pur
hnses OF bonds were commenced GU The S3d L
AZ OF April issS and have continued until
be present time. by this plan bonds OF the
government not yet due have bcen purchased
p TO and including the Bth day OF Noyem Il
or. less amounting TO t9L7Ol tOG the pre-
lium paid thereon amounting 10 si5.5Ot
I30S
The premium added 10 the principal OF thess
presents an investment yielding about two
er cent Interest for the time they still had 10
IN; and the saving 10 the Government
presented By the difference between the
mount OF interest at two per cent
pom the sum paid for the priuci |
a. and premium and what IL would have paid |
n interest at the rate specified on the bonds n
icy had run to their maturity Is
pout seIiGS,oo Al first sifht
Ms would seem 10 be prot
able and sensible transaction on the part
the Government but as suggested by the See
,iary OF the Treasury, the surplus thus ex.
ended for the purchase OF bonds was money
rawn from the people in excess Of any actual
,ed OF the Government and was SO expended 1
Ither than 70 allow II 10 remain idle In the
rensury. Itthis surplus under the operation
just and equitable laws had been left in the
lnds OF the people II would have been
orth In their business at least 0 per cent. per
lnnm. Deducting from the amount OF inter
I upon the principal and premium Of these
,nds for tho time they had TO run nj the rate OF
'er cent. the saving OF 9 per cent made for the
sople by the purchase Of such bonds, the loss
III appear to be $1,000