The Iola register., 1889-12-13


| country of their adoption. The appropria-
| tions of special conventions for that purpose
| Is recognized in treaties which this Govern
| ment has concluded with a number of Euro
pean States, and it Is advisable that the diff
| culties which now arise in our relations with
other countries on the same subject should
be similarly adjusted.
The recent revolution in Brazil in favor OF
the establishments of a republican form OF
| government is an event of great interest to
the United States. Our Minister at Rio
| JaneirO was at once instructed to maintain
| friendly diplomatic relations with the Pro-
visiOnal Government and the Brazilian
| representatives at the capital were instruct
| ed by the Provisional Governments to con-
tinue their functions. Our friendly inter-
course with Brazil has therefore suffered no
interruption. Our Minister has been further
| instructed to extend on the part of this
Government a formal and cordial recogni-
| tion of the new republic 80 soon as the
majority of the people of Brazil shall have
| signifed their assent to its establishments
| and maintenance. ..|-
Home Matters.
Within our own borders a general condi-
tion 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 fer the year were
1887 ,0J0, ,05s.S4. 1t was derived as follows: From
customs, s22s, ,ss2, ,741.es; from internal reve-
| nue., sl3O,Ss2, ,5I3.92; from miscellaneous
| sources, s32 ,335, ,s0S.23.
! The ordinary expenditures for the same
period were S2s1 996, $3.50, and the total ex-
penditures, including the sinking fund, were
| 3l9,519. .9l9.25. The excess of receipts over
expenditures was, after providing for the
| sinking fund, s5I, ,47O, 1889. For the current
| fiscal year the total revenues, actual and
| estimated, are sSs5 600 co., and the ordinary
| expenditures, actual and estimated, are
! 1898 600 600, making, with the sinking fund,
total expenditure of <341 ,321, 1869 leaving an
| estimated surplus of $43,61s, ,Sss.01.
During the fiscal year there was applied to
| the purchase of bonds, in addition to these
for the sinking fund s90, ,i56, so, and during
the first quarter of the current year the sum
of s37 s3s, ,937.77, all of which was credited to
| the sinking fund
The revenues for the fiscal year ending
| June 20, 1891, are estimated by the treasury
| department at 1886 100000 and the expendi-
| lures the same peTlOu. lHcluuiHS Vic
sinking fund, at S34l ,430,417.10 This shows
| an estimated surplus for that year of s43,-
569, ,522.3O; which is more likely to be increased
| than reduced when the actual transactions
| are written up. s..
THE SURPLUS.
The existence of so large 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 rs 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
a surplus i'm the public vaults is a disturbing
element in the conduct of private business
1t has called into use expedients for putting
| it into circulation of very questionably 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
ernment offers a substantial advantage.
The loaning of public funds to the banks
without interest, upon tlss security of Gov
ernment bonds, regard as an unauthorized
and dangerous expedient. 1t results in o
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. 1t is not to be expected that the
banks having these deposits Will sell their
bonds to the treasury so long as the present
highly benencial 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 whhdrawn
and applied to the purchase OF bonds- Ii Is
fortunate that such use can be made OF
the existing surplus, and Tor some time 10
come OF any casual surplus that may exist
after Congress has taken the necessary steps
foP reduction OF the revenue. such legis-
lation should be promptly but very consid-
erately enacted.
THE IAKiFF.
irecomlpehd revision OF our tarnH raw
Doth IN us administrative features anu IN
the schedule. The need OF the former Is
generaiiy cohcedeu, anu an agreennen' upon
the eviis anu ihcon'ehiehces 20 De reiheuieu u
anu the pest inethous lor 'nen i
wiz prooaois no. pe o'.ci'. ~
OF Saiuatioh Ut All our Por.s - cssehtiai' anu
enect'e measures snouiu oe taHeh 70 secure
IL. III II equaiiy uesanic Una. Iues.onS
aHectihs rates anu ciassihca'iohs shouio oe
promptly ueeiueo' -
The preparation OF new scneduie OF Gus
tom du'ies Is = matter Oh erea' aeicacy, pc
cause OF It's enect upon tne business
OF the country, Oh Sreat uiincuity, Dy
reason OF the "ioe divergence Oh OPINION
as 10 the oD!ects tnat may oe prohoteu py
suca iegisiatloh. some disturbance OF pusi-
ness may perhaps result from consideration
OF this subject by Congress, but this tempo
rag iii-eHeet VIII pe reduced 10 minlhu,'
by prompt action, and tine assurance when
tne country ENJOYS 'hs any I,
the just and reasonable protection of our
ind no a