Wichita eagle., 1889-12-05
WINDOWS REPORT.
Similar Recommendations and Showings
to Those in the Presidents Message.

w ASHINGl ONy OCC uC ACpOlo VI CuC
secretary of the treasury shows that the
ordinary revenues OF the government from
all sources for the fiscal year ended June
80, 1889, were S3S7, 050,05S. Ordinary ex-
penditures, s2Sl, 1886, 6l5, leaving surplus
of SOS, 053, AS, of which there was used in
the redemption of notes and fractional cur
rency and purchase of bonds for the sink
ing fund the sum of 81, 583,313, leaving a
net surplus OF Sol, 40, J29. AS compared
with the fiscal year, 1888, the receipts for
1889 have increased s7,7S3,9S4. The ordi-
nary expenditures have increased
S22, az, 653 For the present fiscal
year receipts from the revenue
actual and estimated are 1886. 900;
the expenditures are 1893, 000 900; estimated
surplus $4,000 600; estimated amount re-
quired tor sinking fund s4S, 22l, III. leav-
ing net surplus Of $40. 61S, 6S3. The reve-
nueS OF the government for the fiscal year
ending June 80, 1881, are estimated to be
1885, 600 900; total estimated expenditures,
including sinking fund, 92.271, 400, or an
estimated surplus of s92. 72S, S59; estimated
amount required for sinking fund $40, l59, :
073, leaving a net surplus of $43, 569, So.
There was applied to the purchase and
redemption of the debt S90, 979, Az as COM
pared with s103, go, 064 at the close OF the
fiscal year 1885, The cash balance in the
treasury over and above all accrued liabill-
ties at the close of 1889 was S7l S4;042.
If to this balance there can be added
the estimated surplus for the current
fiscal year, the amount that may be ap-
piled to the purchase of bonds to June 80,
400 do 81 Of how
obligations OF the United States have been
purchased and redeemed to the extent of
$50 464 ,4S5, leaving the available cash on
hand November l, 1889, S45, $50, 1o2.
PENSION EXPENDITURE.
The amount expended for pensions for
the year ended June 80. 1889, was sos, 624,
period, S97, 75S, 700; estimated for year end
ing June 80, 1891. sos, 5S7, 252.
A comparison of the expenditures of 1879
with those of 1889 will show that during
the last ten years the increase OF
widely from the decrease of inter
est On the public debt. Pensions IN 1879.
S35, l2l 49, Pensions in 1889, $95, 624;77
Interest on public debt 1879, SIS, 1927. $40
Interest on public debt 1889. S41. O01, 4o4
No patriotic American has ever complained
of the vast amounts of interest paid to the
men who loaned their money to preserve
the integrity of the nation. Much less
will they complain of any just and proper
of the claims of men who, IN
the nations hour of extreme peril, sacri-
feed their lives to save it.
PURCHASE OF BONDS.
During the twelve months ending DC
tober 81. 1879, there were purchased United
States bonds to the amount of $50, 253, $50.
In spite of the diminished supply of bonds
for sale in the markets the government has
been able to obtain at constantly decreaS-
ing prices sufficient amount of bonds to
meet the requirements Of the sinking fund
for the current fiscal year and Carry out
The provisions of law respecting the in
gestment OF the surplus revenue.
REDUCING THE SURPLUS.
1t appears from the foregoing estimate
hat after due provisions shall have
been made to meet the ordinary
Of the government, there will
remain under the operation of existing
avs an annual surplus of about S44 ,000,-
100. An accumulation of money in the
reasury beyond the necessities of the gov
.rnment endangers legitimate business.
eads to excessive and wasteful expendl-
5ure and to encourage extravaganza In prl-
vate affairs. To decrease this surplus and
hereby do away with its attendant evils
-he secretary recommends that portion
Of it be used to enlarge our foreign mar
ketS and to strengthen our coast defenses.
But after making such provisions Il large
annual surplus Will still remain under eX
sting laws. The only means now open to
the secretary for the use of this money
IS a reduction of the interest
IL. IL lr-t he,
purchase of bonds To require from him
ibis measure of responsibility is of doubt
hi wisdom. 1t is manifestly wrong TO
AXE money from the people Tor the cam
collation. of bonds to the saving of only
bout 2 per cent of interest when it is
worth to them perhaps three times as
much in their business. 1t is through
reduction of custom rates and Internal
axes that an unnecessary accumulation
IF money III the treasury should De
avoided.
Reductions in receipts from customs
presents the only other advisable means
or diminishing the revenue. This can be
First by reduction III rates
# duty upon those articles which by rea-
son of inconsiGerate legislation, or
changes which have occurred IN the devel-
)pment of our Industries are found to
De excessive: second, by increase in rates
lDOu STGlCleS WHICH nave lob OttH SuNCtSS-
ullv produced here, because not adequate
V protected; the obvious effect of which
Increase would be to stimulate domestic
production and diminish importations and
'eveuue. 1t is plain that such articles
should either be fairly protected or else
placed on the free list; thru, by transfer
ing to the free list articles which. from
climatic or other causes, are not, and can
lot be successfully produced here. also
IL -AA,a
stances, we can not economically produce
II sufficient quantities to meet the needs
If our people or to serve the purpose of
ion with foreign productions. and
articles the production OF which is of i'll
Importance.
The causes are exceptional under our
ariff in which MO ierate or reasonable re-
luction of rates would result in decrease
If the revenue. This. as general rrle
would Increase lmportationS IN greater
proportion than the rates We're reduced
md SO increase rather than diminish re-
,eiptS. This III its turn would largely in
rease the surplus and corresponGingly re-
luce the price of labor.
REVISION OF THE TARIFF.
Whatever differences of opinion are en-
ertained as to the best methods of effect
ne it. it is generally agreed that a revision
If the tariff and custom laws is urgently
needed. In the adjustment OF duties on
IMPORTS protection to home industry should
,e governing consideration. While there
5 wide divergence of Judgment
IN the proposition, it can not well be de-
lied that it is the settled policy of this
government that such duties should be so
evied rs TO result in protection of labor.
)ne of the fundamental objects Of levying
luties on imports declared IN the first
ariff act as passed by congress in 1888 was
he encouragement and protection of home
Industries. The wisdom OF this doctrine