Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1889-12-12
Home Maftara.

Home Matters.
Within our own borders a general condi-
tfon of prosperity prevails. The harvests Of
the last summer were exceptionally abun-
dant and the trade conditions now prevail
ing seem to promise a successful season to
the merchant and the manufacturer and gen.
eral employment to our working people.
THE TREASURY.
The report of the Secretary of the Treasury
for the fiscal year ended June 30, 1889, has
been prepared and will be presented to Con
gress with the fiscal operations of the Gov
ernment, and avail myself of it to obtain
some facts for use here The aggregate re-
ceipts from all sources for the year were
SSs7, ,05O, ,05S.s4 It was derived as follows From
customs, S223, ,s32, ,7I16S; from internal reve-
nue., SI30 $50, ,5l3.g2; from miscellaneous
sources, So, ,33j, ,SO3.23.
The ordinary expenditures for the same
period were S2Sl, ,996 $3.50, and the total ex-
penditures, including the sinking fund, were
S3<9,1I9,92925. The excess of receipts over
expenditures was, after providing for the
sinking fund. S57,47O, ,I29.59. For the current
fiscal year the total revenues, actual and
estimated, are S3S5, 900 900, and the ordinary
expenditures, actual and estimated, are
S293, 100000 making, with the sinking fund, a
total expenditure of S341, ,S2I 1860, leaving an
estimated surplus of S43,67s SS3.O1.
During the fiscal year there was applied to
the purchase of bonds, in addition to these,
for the sinking fund so, ,456, ,I72.35, and during
the first quarter of the current year the sum
of 81, ,S3s ,y37.77, all of which was credited to
the sinking fund.
The revenues for the fiscal wear ending
June so, 1891, are estimated by the treasury
department at $3S5, OOOOO, and the expendi-
lures for the same period, including the
sinking fund, at S34l ,43O, $40. This shows
an estimated surplus for that year of S43,-
J6g, ,5223O; which is more likely to be increased
are written up.
THE SURPLUS.
The existence of so large an actual and an
ticipated surplus should have the immedi-
ate attention of Congress with a view to re-
ducing the receipts of the treasury to the
needs of the Government as closely as may
be. The collection of moneys not needed for
public uses imposes an unnecessary burden
upon our people and the presence of so large
Il surplus in the public vaults is a disturbing
element in the conduct of private business
1t has called into use eXpedicnts for putting
it into circulation of very questiOnabIy pro
priety. We should not collect revenue for
the purpose OF anticipating our bonds be
yond the requirement. of the sinking fund.-
but any unapprOpriated surplus in the treas
ury should be so used as there is no other
lawful way of returning the money to cir
culatiOn, and the profit realized by the Gov
eminent offers a substantial advantage.
Inc lOstuln8 OF DuDllc luHuS TO iUe Ddnk=
without interest, upon the security of Gov
ernment bonds, i regard as an unauthorized
and dangerous expedent. II results in
temporary and unnatural increase Of the
banking capital of favored localities and
compelS a cautious and gradual recall of the
deposits to avoid injury to the commercial
interests. It is not to be expected that the
banks having these deposits will sell their
bonds To the treasury so long as the present
highly beneficial arrangement is continued.
They now practically get interest both
upon the bonds and their proceeds
No further use should be made of
this method OF getting the surplus
into circulation, and the deposits now out
standing should be gradually withdrawn
and applied to the purchase of bonds. It is
fortunate that such use can be made of
the existing surplus, and for some time to
come Of any casual surplus that may exist
after Congress has taken the necessary steps
for a reduction Of the revenue. Such legis-
latiOn should be promptly but very cOnsid-
erately enacted.
The TARIFF
recommend a revision Of our tariff law
both in its administrative features and in
the schedule. The need Of the former is
generally conceded, and an agreement upon
the evils and Inconvenience to be rcmedied
and the best methods for their correction
will probably not be difficult. Uniformity
of valuation at all our ports il essential, and
effective measures should be taken to secure
it. 1t is equally desirable that questions
affecting rates and class hcatiOnS should DO
promptly decided.
The preparation of a new schedule of Gus
tom duties is a matter Of great delicacy, be
cause of its effect upon the business
of the country; Of great difficulty, by
reason of the wide divergence of opinion
as to the objects that may be promoted by
such legislation. Some disturbance OF busi-
ness may perhaps result from consideration
Of this subject by Congress, but this tempo
rary i'll effect will be reduced 70 a minimum
by prompt action, and the assurance which
the country enjoys that any necessary
changes will be so made not to impair
the just and reasonable protection of our
home industries. The inequalities OF the law
should be adjusted, but the protective prin-
cple should be maintained and fairly ap
piled to the products of our farms as well as
Of our shops. These duties necessarily have
relation to other things besides public rev.
enues. We can not limit their effects by fix
ing our eyes on the public treasury alone.
They have a direct relation to home produc-
tiOn, to work, to wages and TO the CONNER
cial independence Of our country, and the
wise and patriotic legislator should enlarge
the field Of his vision TO include all Of these.
The necessary reduction in our public rev.
enues can, am sure, be made without max
ing the smaller burden more Onerous than
the larger by reason OF the DISABILITIES and
limitations which the process Of reduction
puts upon both capital and labor. The free
list can very safely be exteDIed by placing
thereon articles that do no: offer injurious
20 such domestic products as
Dur home labor can supply. The removal Of
the internal tax upon tobacco would relieve
an important agricultural product from
burden which was imposed only because our
revenue from custom duties was insufficient
Tor the public needs.
II safe provision can be devised, the re-
noval of the tax upon spirits used in the
arts and manufactures would offer an un-
Objectionable method Of reducing the sur
plus.
THE CIRCULATION.
A table presented by the Secretary OF the
showing the amount of money %
Ill kinds in circulation each year from 1873 te
he present time is OF interest. 1t appear
hat the amount Of National bank notes IN
circulation has decreased during that period
14, ,1O9 729 of which 81 79e 229 is chargeable to
he last year.
The withdrawal Of bank circulation WiD
necessarily continue under existing eeudi-
ions. II is probable the adoption OF thf
made BY the Comptrouer' VIZ