The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1889-12-05


Within our own borders a general condi-
tiop ~ nrosneritV nrevaiie. The harvests of
the Iast summer were eAeepsonaIIJ aDu.-
dant and the trade conditions now prevail
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 80, 1889, has
been prepared and will be presented to Con-
gress with the fiscal operations of the Gov
eminent, and avail myself of it to obtain
some facts for use here. The aggregate re-
celpts from all sources for the year were
1851 ,O0O, OOS.s4. twas derived as follows: From
customs, S223 $50, TALES; from internal reve-
nue., $l30. ,5I3.92; from miscellaneous
sources, So, sS5 ,sO5.2S.
The ordinary expenditures for the same
period were $2S1 500, CISCO, and the total ex-
penditures, including the sinking fund, were
1873 579, 1925. The excess of receipts over
expenditures was, after providing for the
sinking fund, So, I70. 1889. For the current
fiscal year the total revenues, actual and
estimated, are $685. 100000, and the ordinary
expenditures, actual and estimated, are
1898 yO00, 900, making, with the sinking fund, a
total expenditure of S341, 321, 1859, leaving an
estimated surplus OF $43. 67s $500.
During the fiscal year there was applied to
the purchase of bonds, In addition to these,
for the sinking fund $50, 456, 172.35, and during
the first quarter Of the current year the sum
of $S7 ,S5S y937.T7, all OF which was credited to
the sinking fund
The revenues for the fiscal year ending
June 80, 1891, are estimated by the treasury
department at $Ss6. 10000 and the expendi-
lures Tor the same period, including the
sinking fund, at SAL .4SO, i77.7O. This shows
an estimated surplus for that year OF $48,
669,622 80; which Is more likely to be increased
than reduced when the actual transactions
are written up.
The existence OF so large an actual and an
tlcipated 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 as 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 in the public vaults Is disturbing
element In the conduct of private business
1t has called into use expedients for putting
IL 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 unRppropriated surplus In the treas
nry 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
eminent offers a substantial advantage
The loaning OF public funds to the banks
Without interest, upon the security OF Gov
eminent bonds. regard as an unauthorized
and dangerous eXpedient. 1t results in q
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 beneficial arrangement is continued
They now practically get interest both
upon the bonds and their proceeds
No further use should be made OF
l this method OF getting the surplus
| into circulation, and the deposits now out
standing should be gradually Withdrawn
and applied TO the purchase OF bonds. 1t IL
| fortunate that such use can be made OF
/ the existing surplus, and for some time to
come OF any casual surplus that may exist
after Congress has taken the necessary steps
for a reduction of the revenue. Such legis
l lation should he promptly but very constd
L erately enacted.
| THE TARIFF.
| Irecommend a revision OF our tariff law
| both in its administrative features and In
/ the schedule. The need OF the former ID
| generally conceded, and an agreement upor
| the evils and Inconvenience to be remedie6
l and the best methods for their correction
| will probably not be difficult. Uniformity
| of valuation at all our ports Is essential. anC
| effective measures should be taken to secure
| IT, It Is equally desirable that questions
affecting rites and elassifications should b
| promptly decided.
| The preparation of a new schedule OF Gus
tom duties Is 3 matter OF great delicacy, be
cause OF its effect upon the business
OF the country; of great dIfnculty, by
reason of the wide divergence of opinion
as to the objects that may be promoted b.
sucn legislation. some disturbance OF ousi
ness may perhaps result from consideration
of this subject by Congress, but this tempo
rary ill-effect will be reduced to a minimum
by prompt action, and the assurance which
the country enjoys that any necessar!
changes will be 50 made as not to impah
the Just and reasonable protection OF on,
home Industries. The inequalities of the Law
should be adjusted, but the protective prin
ciple should be maintained and fairly ap
| piled to the products of our farms as well y
/ OF our shOra These duties necessarily hayl
| relation to other things besides public rev
enues- We can not limit their effects by nx
ing our eyes on the public treasury alone