The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1889-12-12

crnment and avail myself OF 1t TO obtain some
facts for use here. The aggregate receipts from
AZ sources Tor the year were 1881 ,osOn,s,M.
Derived as follows: From customs. ksx3 ss2.
.fi.6s. From internal revenue. sI3O. .ssl ~.
From miscellaneous sources. az, a35 SUB -
r,na The ordinary s, expend,ures for the same
penditnres. including the sinking fund, were
sey.57a.a2925
The excess OF receipts over expenditures was,
after providing for the sinking fund.- ST. 40.
12g.5a.
For the current fiscal year the total revenues.
actual and estimated. are s3SoOU.0DO and the
are s.a3.ru0OO, making with the sinking fund
total expenditure OF s34l. .s.l ii6.g8 leaving an
estimated surplus OF A367s, ,sSs01.
the purchase Of bonds in addition TO those for
the sinking fund $O.4J6. 1.2.H. and during the
lrst quarter Of the current year the sum Of $751;.
sss96a,, all OF which were credited to the
The revenues for the fiscal year ending
June %, 1891, are estimated by the Treasury
Department Of xss5 .Oo0,00O and the expenditures
Tor the same period. including the sinking fund,
ut S3ll ,43O 37.70. This shows an estimated sur
plus for that year Of s43 500 ~. 10, which is more
likely to be increased than reduced when the
actual transactions are written up
THE SURPLUS
/. The existence OF so large an actual and an
ticipated surplus should have the immediate
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 q sur
plus in the public vaults Is disturbing clc-
ment in the conduct OF private bust
ness. 1t has called into use cxpcdients
for putting II into circulation Of very qucs-
tionable propriety. We should not collect
revenue for the purpose Of anticipating our
bonds beyond the requirements Of the sinking
Treasury should be SO used as there is no
other lawful way Of returning the money to
circulation. and the profit realized BY the
The loaning OF public funds 10 the banks
without interest upon the security Of Govern
ment bonds l regard as an unauthorized
and DANGEROUS expedient. II results IN tenn.
porary and unnatural increase Of the banking
capitaA II favored localities. and cOmpels q eau
tious g gradual recall OF the deposits TO avoid
injury 10 the commercial interests. II is not to
be expected that the banks having these depos-
its 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 de-
posits now outstanding should be gradually with
drawn and applied to the purchase OF bonds.
1t is fortunate that such a use can be made Of
the existing surplus and for some time TO come
OF any casual surplus that may exist after Con-
gress has taken the necessary steps for reduc.
tion OF the revenue Such legislation should be
promptly but very considerably enacted.
THE TARIFF.
recommend revision Of our tariR law,
both In It's administrative features and In the
schedules. The need OF the former Is generally
conceded and an agreement upon the evils and
Inconvenience to be renedied and the best
methods for their correction will probably not
be difficult. Uniformity of valuation at all our
ports is essential and effective measures should
be taken to secure it. II is equally desirable
that questions affecting rates and classifca.
tions should be promptly decided.
The preparation of new schedule OF customs
duties is matter Of great delicacy because Of
its effect upon the business OF the country, Of
great dfficulty by reason OF the wide divergence
of opinion as to the objects that may be pro-
noted by such legislation. Some disturbance
Of business may perhaps result from considera-
tion OF this subject by Congress- but this tenn
porary ill-effect will be reduced to u minimum
by prompt action and the assurance which the
country enjoys that any necessary changes
will be so made as not to impair the just and
reasonable protection of our home industries.
The inequalities Of the law should be nd.
justed, hut the protective principle should be
our farms as well rs our shops. These duties
necessarily have relation to other things be
sides the public revenues. We can not limit
their effects by fixing our eyes on the public
Treasury alone. They have a direct relation to
home production to work. to wages and to the
commercial Independence OF our country, and
the wise ana patriotic legislator should enlarge
the field OF his vision to include all Of these.
The necessary reduction in our public reve
nues can. am sure. be made without making
the smaller burden more onerOus than the
tions which the process Of reduction puts upon
both capital and labor The free list can very
safely be extended by placing thereon articles
that do not offer injurious competition 10 such
ply. The removal of the internal tax upon to
bacco would relieve an important agricultural
product from burden which was imposed only
because our revenue from customs duties was
insufficient for the public needs II safe provis
ion against fraud can be devised the removal OF
the tax upon spirits used in the arts and in
able method OF reducing the surplus.
NATIONAL BANK CIRCULATION.
table presented by the Secretary OF the
Treasury, showing the amount OF money OF all
kinds in circulation each year from 1878 10 the
present time. Is Of interest. 1t appears that the
amount OF National Bank notes in circulation
which s37. .7g9 ego IS chargeable to the last year
The withdrawal OF bank circulation will neces.
sariy continue under existing conditions.
The total amount Of money OF all M kinds nd si1 IN
while on October !, 1889. the total was Il it6.
0ls,0O0 The amount per capita increased about
i've dollars during this time
THE SILVER DOLLAR.
The law requiring the purchase by the Treas
ury OF 100000 worth Of silver bullion each
month to be coined into silver dollars OF 4le
grains has been observed by the department
but neither the present Secretary. nor any oi
his predecessors, has deemed IL safe TO exercise
the discretion given by law TO increase the
"'Siy a% Rs snse,sd epruars r ,s ,he
price OF silver in the market was &l.2O4
per ounce. making the bullion value OF the dol
lar a3 cents. Since that time the price has fallen
as low as 9i.2 cents per ounce. reducing the bull
ion value Of the dollar TO SO6 cents. Within the
last few months the market price has some
what advanced, and on the lst day Of Noyem
was 7a cents. The evil anticipations which
have accompanied the coinage and use Of the
silver dollar nn have not been en- realized called
use, use and ID the public treasury has
been compelled TO store IT, But this is mani
festly owing to the fact that its paper repre-
ceptance and use OF the silver certificate show
! that silver has not been otherwise discredited
Some favorable conditions have contributed Il
maintain this practical equality In their com
| lars. But some OF these are trade condition.
that statutory enactments do not control anG
OF the continuance OF which We can not be Ger
| tain.
/ think it is clear that II we should make
coinage OF silver at present rates free we mus
expect that the difference In bullion values o.
the gold and silver dollars will be taken account
| OF In commercial transactions and fear thu
same result would follow any considerable In
crease OF the present rate OF coinage. Such
result would be discreditable to our financia
tercsts. We should not tread III.
dangerous edge q such q peril
and and indeed, n nothing oil,i more more harmfa
legislation upon this subject must secure tn,
equality OF the two coins In their commercial
uses. have always been an advocate Of thu
ducers Of that metal and should not discredit II
To the plan which will be presented by tn,
Secretary Of the Treasury for issuance OF note
OF certificates upon the deposit Of silver bulliol
| give only o haSty examination owing to tn,
| press Of other matters and to the fact tina
| y has been 50 recently formulated. The detail
| the general plan suggested by him seems I,