The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1890-12-04
the receipts from internal revenue $11,725,-
for pensions was $19 O75. 90 in excess OF the

the receipts from internal revenue s11,725,-
1879, while, on the side OF expenditures, that
preceding year.
The treasury statement for the current fiscal
year, partly actual and partly estimated. is as
900; total expenditures, 1854 900, 900, leaving
surplus OF $50 900, OOO--not taking the postal
receipts into account on either side. The loss Of
revenue from customs for the last quarter is es-
timated at 5000, 900, but from, this is de-
Quoted a gain Of about $4,000, 900. realized
during the first four months of the, year. For
the year 1892 the total estimated receipts are
S373 100000, and the estimated expenditures
SS6a ;s52 2o9 ~. leaving an estimated surplus
OF $lb, IL, 100. So. which, with a cash balance
OF so 1000 600 at the beginning OF the year, will
give SGT, l47, 790.5S the sum available for
the redemption OF outstanding bonds or other
uses; The estimates Of receipts and expenditures
!ort the postothce department, being equal ARE not
included in this statement on either side
The act directing the purchase Of silver bull
ION and the issue Of treasurynotes thereon" ap-
proved July II, 1890, has been administered by
the secretary OF the treasury with earnest
purpose to get into circulation at the earliest
possible dates the full monthly amounts in the
treasury notes contemplated by it's provisions
and at the same time to give to the market for
silver bullion such support as the law contem-
pa st5 the recent in the process
| Id rise in price which anticipated and followed
the passage OF this act was influenced IN some
degree by speculation. and the recent reaction is
| III part the result OF the same cause and in part
| OF the recent monetary disturbances. Some
months of further trial will be necessary to de-
termine the permanent effect of the recent legis-
lat!on upon silver Values but it is gratifying to
know that the increased circulation secured by
the act has exerted and will continue to exert d
most beneficial influence upon business and upon
general values.
! l notice with great pleasure the statement OF
| the secretary that the receipts from internal
| revenue have increased during the last fiscal
year nearly $12 zoo, 900 and that the cost OF
collecting revenue was less by 500 GIT than for
| the same purpose in the preceding year. The
percentage of cost of collecting the customs rev.
| enue Was less for the last fiscal year than ever
| before.
The customs administration board provided
| for by the act of June 10, 1890. was selected
| with great care and is composed III part of men
| whose previous experience in the administration
| of the old customs regulations had made them
| familiar with the evils to be remedied. and in
| part of men whose legal and judicial acquire
| ments and experience seemed to fit them for the
| work OF interpreting and applying the new stat
ute The chief aim OF the law is to secure honest
valuations Of all dutiable merchandise and to
| make these valuations uniform atall our ports
OF entry. 1t had been made manifest by a con-
gressional investiRation that a system of under
valuation had been long in use by certain classes
! of importers, resulting not only in great loss
OF revenue, but in q most intolerable discrmi-
nation against honesty. It is not seen how this
| legislation, when it is understood, can be re-
| garded by the citizens of any country having
commercial relations with US as unfrendly. If
any duty is supposed to be excessive let the
complaint be lodged there. It will surely not be
claimed by any we'll disposed people that a
remedy may be sought and allowed in system
OF quasi smuggling.