Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1889-12-05
TREASURY REPORT.
Solution Of the Silver Problem
Proposed BY Secretary.
Spsd1e Dltis IL Rsnedy hP PnIl.
hleo u Clstons UldRlalnatels.
Methods eog Reducing Dsveaee-1oW
Frse Trade Destroyed Fssslsn and
Protection Dailt up Coast oAipplng.

eSs1o0o ~ 8ooooA08 1ov0o0o-o0W
Free xiads Destroyed FsssAsn an<
Protsotion D1ilt up Coast oAippang
WAsakx0ToN, Dsc. A-IAs annual rsposs
& ~ Treasury dspartnsns was transmitted
- esAgrso to-day. 0suFeeAzy Window ayl
~ tAe ordinary yvvsnues c< ths govsFn-
oent from all spurcss for the fiscal ysaF
sodsd June 50. 1859, were tSs7, o a, ,0ss u. o9
which the principal itsma wsre: From Gus
tcus, tssS. .ssH. 7Aloe; from internal revenue,
elSo. .ssl ,5iSas; trom profits On coiuase,
halhoo deposits and asAys, ei0, i6S, asA ~
from salcs Of public lands. ss,0Ss, ISL ~;
fsu@ fsrs, consular, isst~rs pAssat and land.
ts.SS. .0S 81; from rsvenuss Of the District
Il Columbia, taSas. $4,000.
The ordinary expenditures for the same
period were &asl, ,9o6, ,6lhoo Of which the
itsms were:
Fur civil expenses, tss, ,ses, 1871 oo; for pen-
sicna es7, ,624, IN II; for the military sstAb-
hahnent, including rivess and harbors and
arssnals, ~, &35, so IS; for the naval sstAb-
hshment, including vessels, machinery and
improvements at navy yards, e2i. .s7s. 500 81 !;
for miscellaneous expenditures, including
public huildingn, lighthouse and collecting
ths revenues. s4;,a5i ,GS7S7; for interest on
the public bebt, tai. .ool. .4sA0
The surplus left was tl06, rs, ,<%S ~, Of
which there was used In the redemption Of
notes and fractional currency and purchase
Of bonds for the sinking fund the sum Of t47, :
S,SiS 6o leaving net surplus for the year
Of 81, 40, i29o9 As compared with the
fiscal year lsss the receipts for 1850 have In.
creased q. se3, ,9S4, and there WINS an increase
Of g., a2 d66.VS in the ordinary exIs'ndi-
turss For the prsssnt fscal year the rev.
snues actual and estimated. are sss5. .00O, 900.
and the expenditures. actual and estimated,
aEc sAs' ',UO,0o0. This leaves an estimated
surplus applicable TO the purchase OF bonds
Of fHs OOO,0O. Of which II Ia eSti-
mated that ~, ,ssi, ,li60 will be re-
quirod for the sinking fund. leaving u
nst surplus for the year Of eS3.6ss. .0S30i.
The net surplus for the fiscal year 1889, To-
gsther with tbai0 received for per cent.
bonds issued for interest accrued on refund.
ing certificates converted during the year,
and esS, SOS, ,S57. 10 taken from the cash hals
ance In the treasury at the beginning Of the
year, making altogether e9u. .97g, s27. *, WAS
applied to the purchase and redemption Of
the debt As compared with sl03 IN, ,as4 II
at the close Of the fialAl year 1883, the cash
balance in the treasury over and above all
accrued liabilities al the Gloss Of 1889
was t7l ,4S4, ,0i2 30 II to this balance there
Be- added the estimated surplus for the
current fiscal year, the amount that
may bc applied to the purchase Of bonds to
June 30, 1890 will be si6S, M. .04239 Bonds
and other obligations Of the United States
have already been purchased and redeemed
to the extent Of $50, ,46o, ,4s5 -, leaving tho
available cash on hand Nov. l., 1880, e45.-
SSS, ,762 ~
The Revenue surplus.
II appears from the foregoing estimates
that after due provision shall have becn
made for meeting the ordinary expenses Of
the government, including the requirements
Of the sinking fund, there viii remain, under
ths operation Of existing laws, nm annual
surplus Of revenue Of about ~, ,O0O,0U liza
portion Of the surplus revenue can be used to
enlarge our foreign markets. and thereby ad-
vance our commercial and productive inter
ssts. it is the part Of wisdom 10 10 apply It.
The strengthening Of our coast defense~ and
the building up Of our navy, subjects
Of national concern, offer further oppor-
tunity for wise expenditures that would re
turn the money directly TO the people But
after making provision for such expenditures
~ may lie proper and reasonable for these
purposes, large annual surplus will still re-
main under the operation Of exi.tinv laws
Il Ia mapifestIy wrong 10 take money from
the p.,ople for the cancellation OF bonds. to
The sa wing Of only about per cent. of inter
est. when II is worth 10 them. srhaps. three
times - much in their business Il is rather
through a reduction Of customs r.c.ipt. nn,i
internal taxes. that nm unnecessary accumu-
latiou OF money in the treasury should he
avoided
The robncco Ia.
Thar. urn. r,.c.;v.i dur,,, ,h. Lac, ssca,
80 ,ro,,, "A, s,,,rcas ~ b,t.,rn, r.r.,,,a
a.. 49,, a, sIao a,,a IA, M rhi- 4, 4. a.,i
80 ,.e,,I1 ~. ;,n,,.,..,1 -, -;.,i..,,
- " ara. tsO mn 10, ,h. c,r,.,,, ,,,,r
r... 49,, ~. al, ~ a.. ,.~..I a 80,
sical effects and influence of tobacco. IL bas
come 10 be REGARDED az a necessity by the
NOR as well rs the rich. Il is now the only
nroduct Of agriculture that Ia directly taxed
Nv the government The rep.Nl of this tar
would reduce he surplus about e:}o. .OOO. 90
Tb., subject Of exempting from taxation
alcohol for us, in the arts merits and ha, re-
r fv,.i much attention. IL In estimated upm
careful inauiry that about
a., .,,u,on c.,,or. ,s A,..s.,
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