Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1889-12-05
NATIONAL FENaNCEs.


Abstract of the fSGpDrt 01 the SeCfe-
tary of the Treasury,
Associated Press Dispatch by Special Wlros
WAEHMGroN, Dec. 4.-rae annual re-
port of the secretary OF the treasury
was sent to Congress to-day. An abstract
ts as follows.
After stating the receipts and expen-
ditares in det Ill, summary of which
was contained in the Presidents message
the secretary estimates that there will be
surpiu- IL the end OF the current fiscal
year Of s 1000 900, and says:
An accumulation Of money in the trea-
sury beyond the necessties of the gov
ernmeut endangers legitimate business,
tends 10 excessive and westeful public
expenditure, aud TO encourage extrgVa-
gAuce in private affairs.
In the presence OF such conditions II
Is manifest duty to wisely guard against
q future needless accumulation with its
fruitful train OF evils.
II q portion of the surplus revenue can
be used to enlarge onr foreign markets,
and thereby advance our commercial and
productive iutereats, it is the part OF wis
dom to so apply it, The strengthening
OF our coaSt defences, and the building
up OF our navy, subjects Of national CON
Germ, offer further opportunity for wise
expenditures that would return the money
directly TO tho people.
But after making provision for ouch
expenditures Us may be proper and
reasonable for these purposes, large
annual surplus will still remain under
the operation of existing laws.
Reduction OF the iiterest-beasing debt
of the government, by the pdrchase Of
bonds, is the expedient re8orted to for
returning a part Of this surplus to the
channels of tradp, Rni is the only means
now open to the Secretary OF the Treasury
for the use of this N ney. 10 require
from him this measure Of responsibility
and discretion il Of doubtful wisdom.
A possible successful appeal 10 this
discretion tsmpls individuals to rash
businass undertakings, in the belief that
the money in the treasury will be used to
avert Threatened disaster. In tue alb
sence OF such aiscretion in the secretary,
the possible use Of this money would
cease to enter into the calculations Of the
business world.
II is manitestly wrong TO take money
from the people for the cancellation OF
bonds, to tie aagiug of only about pei
L GEM VI lnNEANHtI HAlEA4 ~ Az WIN ~ NAANL-l
perhaps, three times rs much in theii
busineqs. II il rather through reduc
zion of ons'oms receipts aud interna
taxes, tLst an unnecessary accumulation o
money in the treasury should beaVoided
There YVES received during the las
fiscal gear, from all sources OF interna
revenue, the sum Of $3.50, $50, 43t 20
This, it IL eBtimatUd, would bb increased
under ex'sting laws, to $i35, GOO, 900 TO
the current fiscal year.
The tax collected on tobacco was q
follows: Cigars, cigarettal aud cheroots
81, G77 ,9S7 60, snuff, S6i5, 0s9 81, man
utactures ~ tobacco, Sl7 b76,s 500 "a
special tax 8, Si,iG8 SG'.i2; total, S3l,
SG6 s37.53 Whatever may be said q
tic morsl or PLY sieA effects and infl1
ence Of tobacco il has come TO Ia re
gariea as nee 5Bgity BY the poor as we
a. the rich II is now the only produt
, OK agriculture til is directly taxed b
tue government. Tire repeal OF this ts
would reduce the surplus eboat $32
G10OB0.
, rAs subject Of exemptirg from texf
I ton sicuhol for use in the arts merits ~
has received much attention. Ii is est
mated upon careful inquiry that aboJ
} 5000, 900 gallons of alcohol are annual
used in this country in vast number I
. chemical and medicinal preparations {