Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1889-12-05

way the adjustment of all questions
that might present obstacles to the COM
pletion Of work of such transcendent
Importance to the commerce Of this
country, and indeed to the commercial
interests Of the world.
Regarding the Surplus.
The report of the secretary Of the
treasury for the fiscal year ending June
80. 1889, has been prepared and will be
presented to congress. 1t presents with
clearness the fiscal operations Of the
government and avail myself Of it to
obtain some facts for use here The ag-
gregate receipts from all sources for the
year were 1887. .05O, ,05S.S4. Iheordinary
expenditures for the same period were
S2S1 1876 1880, and the total expendi- 4
lures, including the sinking fund, Were
1929, $40 929.2 .225. The excess of receipts
over expenditures was. after providing
for the sinking fund, S57 ,470, 1859.
For the current fiscal year the total
revenues, actual and estimated. are
1885, 100000 and the ordinary expendi-
lures, actual and estimated, are $29o .000.-
600. making with the sinking fund total
penditure of S341 .321. 1859. leaving an
estimated surplus Of S43, ,67S, ,SS3.01. Du-
ring the fiscal year there was applied to
the purchase of bonds in addition to
those for the sinking fund $50 .456, 1925,
and during the first quarter OF the cur
rent year the sum of S3317. 1888. .031.77. all
(which were credited to the sinking
fund. Ine surplus for the fiscal year
ending June 80. 1891, is estimated by the
treasury department. at S43,569, ,522: 30,
which is more likely to be increased than
! reduced when the actual transactions are
written up. The existence of SO large
an actual and anticipated surplus should
have the immediate attention of congress
with view, to reducing the receipts OF
| the treasury to the needs OF the govern
| ment as closely as may be. The collec-
/ tion of moneys not needed for pubic
| uses imposes an unnecessary burden upon
| our people. and the presence OF SO large
/ a surplus in the public vaults is a dis
i turbing element in the conduct OF pri-
! vate business. 1t has called into use ex-
| pedients for putting it into circulation OF
very questionable propriety. We should
1 not collect revenue for the purpose OF
! anticipating our bonds beyond the re-
quirements of the sinking fund, but any
| unappropriated surplus Ill the treasury
should be settled, as there is
no other lawful way Of retain
ing the money in circulation, and
the profit realized by the government Of
fers substantial advantage. The loanIng
of public funds to the banks, without in
terest, upon the security Of government
bonds, / regard as an unauthorized and
dangerous expedient 1t results in a
temporary and unnatural increase of the
banking capital Of favored localities. and
j compels a cautious and gradual recall OF
j the. deposits to avoid injury to CONNER
4 ciaI interests. IL Is not to be eSpectee
Il that the banks having these deposits vii
sell their bonds to the treasury SO long al
the present highly beneficial arrange
ment is continued. They now practl
cally get interest both upon the bonds
4 and their proceeds. No further use
should be made of this method OF getting
the surplus into circulation. and the de
posts now outstanding should be grad
ually withdrawn and applied to the pur
chase Of bonds. Legislation for the rev
enue should be promptly but very con
siderately enacted.
4 recommend a revision of our tarit
law, both in its administrative features
and in the schedule The preparation O
a new schedule OF customs duties Is ;
matter of great delicacy because OF it
effect upon the business Of this country
Of great difficulty by reason OF the Wild
divergence of opinion as to the OBJECT
that may be promoted by such legisla
ton. Some disturbance Of business ma.
perhaps result from consideration OF thu
subject by congress, but this temporar,
ill effect will be reduced to a minimum
by prompt action and assurance whlcl
the country enjoys that any necessar.
lo ,of fo IN,
pair the lust and reasonable protection
of our home industries. The inequalitie
of the law should be adjusted, but til
protective principle should be main
tanned and fairly applied to the product
of our farms as well as our shops. Thes
duties necessarily have relation to othe
things besides the public revenues. W
cannot limit their effects by fixing ou
eyes ON the public treasury alone. The
have direct relation to home produc
. ton, to work. to wages and to the com
mercial Independence of our country IAN
the wise and patriotic legislator shou
enlarge the field OF his vision to includ
all OF these. ..5
The free list can very safely extende
by placing thereon articles that do nc
offer injurious competition to such &C
1nestic products as our home la
Dor can supply. The removal G
the internal revenue tax from Tobacco
would relieve an important agriculture
product from burden which was I'M
, posed only because our revenue froi
customs duties was insufficient for th
public needs. If safe provision agains
fraud can be devised. the removal OF tn
tax upon spirits used in the arts an
manufactures would also offer an unot
iectionahle method of reducing the SUI
plus.
Increase in Circulation.
8 The total amount of money of all kind
: in circulation on March 1, 1873. wa
, SSD5, 1913. .SUi. while on Oct. /, 1897. tn
total was 81. .4n5 .0lS. 900. There was a
increase of S293. HI ,552 III gold com. I
SJ1.554. 100 in standard silver dollars. {
So. .3ll .249 in gold certificates. of S2t6
| 6l9.1l5 in silver certificates and of Sl4
O13. 1Sa in United States notes, maxim
: a total of S.13.9s6, ,i03. There was. dnl
ing the same period, a decrease of Sll4
lO3. 129 in bank circulation and OF S642
4Sl in subsidiary silver. The net lncreas
was $500. o.224. 1873,
! Silver Coinage.
.,l Of Sily~pa. dollars