The evening world., 1889-12-04
NOTES AND BULLION.
Secretary WINDOWS Plan for Dealing
with the Silver Money Problem.
Abstract of the Treasury Depart
ment Annual Report.
Estimates of the Governments We ,rly
Receipts and Expenditures.
TO THE EVENING WORLD

WArHINGToN, Dec. 4.-SecretaIy WINDOWS
annual report states the total receipts of the
Government from all sources for the fiscal year
ended June 30, amount to $3ST, 050. 05S; the
ordinary expenditures for the same time were
s3SI, 09B, 615, leaving q surplus in the
Treasury of s105, 053, 443.
For the current fiscal year the revenues are
,stimated at 1855. 900, 900. and expenditures
At s.o3. 600, 900. After the proper application
OF revenues to the Sinking Fund, the estimated
net surplus for the current year will be
ti3, 6Ts, $3.50.
secretary Window estimates the receipts for
tie year ending June 80, 1891, at $3.50, OOO.-
cGG, and his estimates Of expenditures. for
which this Congress will make appropriations,
n S2O2,2 71, 404, with a net surplus of SAB
O01, 900.
Bonds and other obligations Of the Govern
mrnt have been purchased and redeemed dur
.ng the year amounting to $50, 465, 4S5, leav-
iag available cash on hand Nov. l amounting
- $i5.3 $50, T62. 40. The estimate for pensions
f,i he fiscal year of 1891 il $0S. 5ST. 252.
The met is, cited that in 1879 the interest on
T." piLlic deht amounted TO- Slo3'3"7'o49'
r. Window estimates the internal revenue
lryc!p,,s Tor the current year Mt $135. 900, 900.
The tobacco tax amounts TO S3l. $50, S3T. In
fuseutially. he its abolition. He
a.,o thinks the tax on spirits used IN the arta,
under certain restrictions.
The Secretary believes that a revision of the
tariff and customs Jaws is necessary; There are
Inequalities end defects which need immediate
remedy. He makes an eXteIbled argument in
Ia,or of a revision by which taxes may be
rGuaiized and the protective system suffer no
Impairment.
iue adoption. wherever practicable. OF
specific rather than AL valorem duties is recon-
IL, mdcd as n means of checking frauds by under
special tribunal for the disposition Of Gus
TONS appeal cases is recommended.
The total vRlne OF our imports and exports of
merchandise and specie during the last fiscal
Year was 81. 613.l37. 633, an increase over the
preceding year of ss7, 473, S43, and was greater
than for any year since 1881.
ch i4S1 tot vas y9 .zso Of bs sSp 9ps q }n d tGa e ttes, m TSar
1889, an increase of $40. 400, 500 over The pre-
ceding year. and was greater than that of any
The imports during the last fiscal year were the
iargest in the history of our Ge amount
5aS over the fiscal year 1855.
The entire tonnage of the United States IL re-
ported at 4, 2O1.41l Of which .163,5 25 tons
tons have been built during the last fiscal year.
amendment of the, laws regulating tonnage tax
Is recommended. Ihe Secretary urge that lib
srll and judo GUS Government aid be given for
i4e construction OF steam merchant vessels suit
Ihie for CONVERSION into cruisers in time OF war,
md that subsidies be given for mail carrying
Gamers plying to South American, Chlnese and
secretary Window devotes much space to the
consideration OF the silver question, and in sub
stance makes the following proposition :
I'NuG 1 ltuHNIl Ibltb uEullthN NtD'NlNb VI NllNtl
bullion at the market price of SILVER when de-.
posted, payable on demand in such quantities Of
silver bullion ~ will equal i'll value, at the date
Of presentation, the number OF dollars expressed
on the face of the notes at the market price of
silver. or in gold. At the optio9 OF the Govern
holder. Repeal the compulsory features OF the
present Coinage act.
WHAT Is PROPOSED.
The proposition is briefly this: To open the
mints Of the United States TO the free deposit of
silver, the market value of the same mot to eX-
eeed ~ for 4l2.5, grains Of standard silver at
the time OF deposit to be paid in Treasury notes,
said notes to be redeemable in, the quantity OF
silver, which could be purcha. ed by. the numbers
the time presented for payment, or in gold, at
the option of the Government. and to be re-
eGlya5!e for customs, taxes and all public dues;
ana when DO received they may be reissued. and
such notes, when held by any National banking
nss9cistion, shall be counted as part OF its
The Secretary of the Treasury should have
H,.perctlonary power to suspend, temporarily,
lote5 when necessary to protect fhe Government
p'AlnSt combinations formed for the purpose of
'",itE an arbitrary and tictitii9us price to silver
NE date of the issue of a note and its payment,
We holder OF the note would receive a less quati-
Ivy Of silver than, he deposited, but the exact
NQartty which could be bought IN the market
WIN the number of gold dollars called for by his
hotE Mt the date of payment. III the price should
recline he would receive more silver than he
deposited, but the quantity which could be ppr-
t.aSeu win the number. OF gold dollars called
mcnt.
Ap to the objection that we may be flooded
WIN the worlds silver, the proposed law itself
NM tue statistics i'll regard to the present prod
I't. ana. the uses of silver furnish a complete
lrNrF. treasury notes would only be issued at
Ne average price OF silver in the leading tinall-
.la. csnirc" of Europe and the United states,
70 that there could he no possible motive for
H..Ipnlng 1t rom abroad. Why should any ono
Z ne cost Of transporting silver from Europe
t'''rnAHge for our Treasury notes at the same
co 1t would command in gold at home? Irob-
uu.E, We should receive some OF the surplus
irouUct OF Mexico, but, as will be presently
i'tHr, II would not come from South America,
y ',ISo Il wonld command the same price, in
500 III London that it would ~ notes in New
and nearly all the product or, south
10 I ~. goes, in the shape OF miscellaneous
W's1 aud base bars, to Europe for economical
l'Ur1ng.
since March, 1875, the totalnot increase in cir,
! los ~. been $500, pa, 1913. IhA total 81 =
T. il' slor capita In 81. f5.
a.. ne clhIgG OF the mint wa as follows: God,
-h'hi3, $40; silver dollars, &33, 1913, 500; sub
s,iiHry silver. $72l. GSO. 40; minor coins,
snnWd' 473. -; total, $50. 0O5, O29. 81;
Inc stock OF gold and silver in the United
I[E%.Gos y o5timated to have been on Noy; J.
WW3,Su consisted of gold coin and pullion;, S343,-
p5S'o0l. OF standard silver dollars; $40, O2S,-
~ OF subsidiary silver coins. and $40, Sls,-
~ OF silver bullion in the minis.
y considerable length the Secretary. adyo-
INC, the policy of gradually WitltraTing tle
Malntenarce OF tho civil service MIN
'!'I'h Is recommended
A $40 Gold HNatcli far ~