Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1890-12-06
THE TREASURY.

Annual Report OF Secretary WIndom-Esti-
mate For Pensiona-Tho Surplus and
kevenues-Sliver Purchases and Other
Matters.
WASHINGTON, Dec a-The annual re-
port OF the Secretary Of the Treasury on
the state OF the finances for the year
1890 has been made to Congress- 1t Is in
part as follows:
In estimating the revenue for the next
fiscal year the loss from articles transferred
to the free list is placed ut SS0.O0QOOO. but as
the increasing demands Of the people must
swell the volume OF imports In other COM
modlties, and tho enforcement OF the Gus.
toms laws under the operations OF the ad-
minlstrative act OF June TO- 1892, by the pre-
ventIon OF undervaluatlons and the closer
collection OF duties. will materially increase
the revenue, Il Is estimated that an add
tional collect ion Of not less than $4,000, 900
will DO obtained under these conditions.
Upon this basis the net loss OF revenue for
the year Is put down at sS!.O00.OO0
PENSIONS
The estimate OF Slsj, t6s, os5, made by tho
Interior Department, for the year 1892 10
based upon tho fact that over $4,000 Of the
claimants for pensions under old laws have
avaIled themselves Of the right to present
their claims under the act Of June "a,
1890 Claims presented under the new
law will draw q less monthly rate. and
carry arrearaRes for only q short time, and
for small amounts. while under the old laws
many OF Thorn carry very large arrearages,
and many at which will have been paid dur
Ing the fiscal year 1891. The transfer az
claims from the old to the new law Will
therefore very largely reduce the average
annual value Of pensions, and reduction
In the amount OF averages alone 10 estl.
mated at $40 0a0 900 for the year 1882. For
these reasons Il Is estimated that the
amount above named for 1s9! will be sum.
Client to meet the aggregate requirements
THE SURPLUS
Tho total apparent surplus on September
10, whom the money strIngency eliminated.
was s99, 500 40 So. OF this amount $2I, 2l69H.9j
was on deposit In the banks, and presume.
bly, In circulation among the people, and
$1l, 709, ga n was fractional silver which had
been in the Treasury for several years, and
was not available for any cons iderable dis
bursements. Deducting the sum OF these
two items. viz. Ai,92s, lsL7S. left an actual
available surplus OF only So, ,a2L2S The
amount OF tho bank. mote redemption fund
then In the Treasury, which had been trans
ferred to the available funds by the act
of July u, 1890, was sSI,0o0.0O0. being
substantially tho amount OF the avail
able surplus on September 10, $500 This
bank note fund had been In the Trea ury In
varying amounts for many years In An.
gust 1887 1t was sl06, s7S. 09S.60. which had
been gradually reduced by disbursements
to the amount above named. II IL appar.
ent, therefore. that the financial stringencys
under discussion, was not produced by the
absorption OF nancy by the Treasury. but
by causes wholly outside OF Treasury oper-
atoms At the time when the financial
pressure In September reached Its climax,
the extraordinary disbursements for bond
purchases had substantially exhausted the
entire ordinary Treasury accumulatlons,
and but for the fact that Congress had WISE
" transferred tho bank note redemption
fund to the available cash, there would have
been no money at command In the Treasury,
by which the strained financial conditions
could have been relieved, and threatened
manic and disaster nverted. Had this fund
been In the banks instead OF the Treasury
the business of the country would have been
adjusted TO the creased supply, and when
the strain came 1t would have been impos.
sible for the banks to meet 1t. The Govern
ment could not have withdrawn 1t from the
banks without compelling a contraction OF
their loans, and thus dim lnishing their aoii'
ity to give relief to their customers.
INTERNAL REVENUE.
The report OF til Commissioner OF Intern
nj Revenue, showing In detail the opera.
lions of this bureau. Is transmitted here
with. The following summary Will disclose
ut glance the satisfactory conditions OF
that branch OF the public service, and the
very efficient and economical manner IN
which IL has been conducted:
The receipts from all sources
Of internal revenuefor the fis'
cal year ending June 81, 1880.
were .............s'''''''...' SAaSIV0st"00 ~
The receipts from tho same
sources for the fiscal year
ending June b. 1859, were...... lso,ssAAsa 20
Making an Increase in the re-
ceipts for the fiscal year just
ended ACKNOWLEDGEMENTS II. IW,toA OF
SILVER PURCHASES.
Under the operations OF the silver bullion