Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-12-02

A
ceiving attention.
,natc.sov--vFNEztbLA'
a,;on of the remains OF yonn
r,-, ne o. Sgeden afforded nv ,yraai
aaass;on 10 honor the memory y, owes |
;nyan,nr 70 whose genius our co ~ tbe nm |
az mich. and to bear WINES ,,sted be- |
broken ,ha land which bore him ana our
.mvon ,,b;cb claimed him as ci,'1e an-,,,,;a
own, Wh MI "a &c September last the conllniss
vi .n VIZ e. 10 revise the proceeolpgsos
s.oh "rp n,,rn;ssion under the en,
.no ,'t;nn between the United otatoS s s
VenezneIa of 1866 brought its .a Not NM
close within the period n1ed 10. ' nonmis-
nose. The proceedings OF tne sst Of i'm
sion were characterized oy ,stice and an |
nartiality and high sense OF lus'iv 49, the
i"o;dent which was for many yeal' ,ro |
n,i'iact ~ discussion between tne W.
,JJ,nnents has been disposed OF III u
9 9,orner alike honorable and satisfactory u
both parties. e .ho claim of the |
Venezuela Steam Transportation ooiIrtinS,
which was the subject oil a Joih " Concress
adoped at the last session ol III .bo;rr
neCotiations are still in progress anu 'n'ii
early conclusion is anticipated
CONSULAR SERVICE.
Tho 1oo;slation of the past few years mas
ovinced on the part of Congress GROWING
realization of theimportance OF the consu-
lar service in fostering our conineIVIi 'n lo
lo,ions abroad and IN protectlhs tho W.
nestle revenues. As the scope OF opera
tons expands increased provision ihus J &c &c
made TO keep up the essential stahualu VI
efficiency. The necessity OF soine auea -
measure of supervision and Inspection nus
Leen 40 often presented that neeu ohly
commend the subject TO your aitehtloh'
REVENUE FROM ALL SOURCES.
The revenues Of the Government from
ali sources for the fiscal year ending june
30 1890. were 1863, 963. 0SO.5j, and the total
expenditures for the same period were
slSS G18 1882. The postal receipts nave
not been included in the statement OF
these aggregates, and for the purpose 1i
comparison the sum Of SGOs, 9O9'9S shouIu
be deducted from both sldes OF the Nv
count The surplus for the year, lncluulilS
the amount applied 10 the sinking iund;
was 91O5. S44, 1868 The receipts lot 1851
were sic .O3O g23 70, and the eXpenultuIeS
S157. 3J8. III in excess of those OF 1889. me
customs receipts increased 5000 $3.50
and thereceipts from internal revenue
rs 1912. while on the side OF eXpe Ii nc
lures that for pensions was SIv'oI%'V'''"o
in excess Of the preceding year,
The Treasury statement for the current
fiscal wear. partly actual and partly est,
mated is rs follows: Receipts rom an
sonrces. SlO6. 900 total expenditures,
S35i 00O 600 leaving surplus of c52OOO,-
GOO. not taking the postal receipts into the
account on either side.
The loss of revenue from customs LOT me
last ouarter is estimated at 25,0OO.0 600, but
from this is deducted n gain OF about
SIC 600 900 realized during the hrst Iour
months of the year.
For the wear 1892 the total estimated re-
GENTS are S373. 600 900 and the estimated
expenditures 1857, $50, 209 AZ. leaving an IS
tmated surplus Of Sl5,1H,7W.5o. Whlcn'
with a cash balance of SJ2,OOO,OOO NJ the
beoinuing of the year, will give ST., H.
7o0 ~ as fine sum available for the redemp-
ton of outstanding bonds or other uses.
The estimates Of receipts and expenditures
for the Post-Ofice Department being equal
are not included III this statement on
either side.
SILVER BULLION.
The act directing the purchase OF silver
bullion and the issue OF 1reasury-nOte5
thereon. approved July II, 1880, has been
administered by the Secretary OF the lrea-
surv with an earnest purpose 70 get INTO
circulation ut the earliest possible dates the
full monthly amounts of Ireasury-notes
contemplated by its provisions, aud at the
same time togive to the market for silver
bullion such support as the law contem-
plates. The recent depreciation IN the price
of silver has been observed win regret.
The rapid rise IN price which mas aulcl-
pated and followed the passage OF the act
was influenced in some degree by specu. a.
ZION. and tho recent reaction is in part the
result of the same cause and in part OF the
recent monetary disturbances. Some
months of further trial Will be necessary
to determine the permanent effect OF INC
recent legislation upon silver Vaugs'
but it il gratifying TO know tnat the
increased circulation secured by the
net has eXerted and will continue
~ exert most beneficial influence
upOn business and upon general values.
While it has not been thought best To- re-
new formally the suggestion OF an inter-
national conference looking to an agree
ment touching the full use of silver TOR
coinage mt uniform ratio, care mas Desh
taken to observe closely any change III inc
situation abroad. and no favorable oppoT-
which. it is confidently believed, would
confer very large benefits upon the COM
merce of the world.
MONETARY MATTERS GENERALLY.
The recent monetary disturbances in
England are not unlikely 10 suggest, a re-
| examination of opinions upon tins SUBJECT.
| Our very large supply of gold Will, II not
| lost by impulsive legislation III the sup
posed interest of silver, give us position
of advantage in promoting permanent
and safe international agreement Tor the
free use Of silver as a coin metal.
The efforts Of the Secretary TO increase
the volume of money In circulation by
keeping down the Treasury surplus to the
lowest practicable limit have been unre-
mitting and in a high degree successful.
The tables presented by him showing the
increase Of money in circulation during
the last two decades and especially the Ia
bic showing the increase during the
nineteen months lie has admins
tered the affairs OF the departm ent
are interesting and instructive. The
increase of money in circulation during the
nineteen months has been in the aggregate
S99. $3.50. S13, or about Sl.50 per capita, and
of this increase only S7,l00,OOO was due 10
the recent silver legislation. That this
substantial and needed aid given 10 COM
, | merce resulted in an enormous reduction
of tho public debt and of the annual inte-
rest charge IS matter of increased salts
faction. There have been purchased and
redeemed since March 4, 1882 aud Al
, per cent bonds TO the amount of SILL
S9g. 45O az a cost of 2466, 207 AL, resulting
: in a reduction of the annual interest charge
, OF IS, 967 500. and total saving OF interest
+. of S5l,576,7O6.
CUSTOMS RECEIPTS.
/ notice with great pleasure the state.
, | ment OF the Secretary tnat the receipts
from internal revenue have increased du-
ring the last fiscal year nearly $4,000, 600
| and that the cost of collecting this larger
. revenue was less by S9O,6l7 than for the
= same purpose in the preceding year. The
: percentages of cost of collecting the Gus
! toms revenue was less for the last fisca
year than ever before.
The customs administration board pro
= vided for by the act of June 10, 1890, wa,
: selected with great care, and is composed
! in part of men whose previous ex
i perience in the administration Of the
- old customs regulations had made then
:, familiar with the evils TO be remedied
h They are men whose legal and judicial re
"a qurements and experience seem to fl
= them for the work of interpreting and ap
= plying the new statute. The chief aim o
!, the law Is to secure honest valuations o
= all dutiable merchandise and to max,
4. these valuations uniform at all our ports
> of entry. Ii had been made manifest by
\ congressional investigation that a system
IS of differentiation had been long in use by
" certain classes of importers, resulting no
% only in great loss of revenue, but in
| ~