New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1890-12-10

the receipts from internal revenue S11725-
I91.S9. while, on the side of expenditures, that
Tor pensions was 19312.07 90 in excess of the
preceding year.
The treasury statement for the current fiscal
year. partly actual and partly estimated is as
to follows Receipts from all sources, S4o6, Ooo,-
600; total expenditures, 1854 900, OoO leaving
surplus OF S52, 600, 00O-not taking the postal
receipts into account on either side. The loss of
revenue from customs for the last quarter is es-
t1mated at S20, O0O, 600, but from this is de-
Quoted a gain OF about $4,000, OOO realized
curing the HrSt four months OF the year. For
the year 1892 the total estimated receipts are
1913 100000, and the estimated expenditures
S357,S52, 209. AZ, leaving estimated surplus
OF S15, LAT, 100. So, which, with a cash balance
OF S52, 600, 900 at the beginning of the year, will
give SGT, 147,79O.5S as the sum available for
the redemption of outstanding bonds or other
uses. The estimates of receipts and expenditures
the postoHce 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 treasury notes thereon APP
proved July Il, 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 i'll the
treasury notes contemplated by its provisions,
and at the same time to give to the market for
silver bullion such support as the law contem-
plates The recent depreciation in the process
OF silver has been observed with regret. Therap-
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
IN part the result OF the same cause and in part
months of further trial will be necessary to de-
termine the permanent effect Of the recent legis-
latlon upon silver values: but it is gratifying to
know that the increased circulation secured by
the act has exerted and will continue to exert a
most beneficial influence upon business and upon
general values.
notice with great pleasure the statement of
the secretary that the receipts from internal
revenue have increased during the last fiscal
year nearly S12,0OO,OOO and that the cost OF
collecting revenue was less by SOC, 1917 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. -...'
for by the act of June 10, 1890, was selected
with great care and is composed in part of men
whose previous experience in the administration
OF the old customs regulations had made them
familiar with the evils to be renedied, 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 at all our ports
OF entry It had been made manifest by a con-
gresslOnal Investigation that a system OF under
valuation had been long in by certain classes
OF importers, resulting not only in a great loss
of revenue, but in most ntolerable discrimi-
legislation, when it is understood can be re-
garded by the citizens OF any country having
commercial relations with unfriendly. If
any duty is supposed to be excessive, let the
complaint be lodged there. 1t Will surely not be
claimed by any well disposed people that a
remedy may be sought and allowed in a system
OF quasi smuggling