Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1890-12-04
MR.. WINDOW.
Annual Report Of the Secretary Of
the Treasury.
The ESTIMATED REVENUE CHANGES.
Cost of Pensions-The Treasury and Money
stringency-Internal Revenue-Pur-
chase of Silver 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 at $50, 600 000 but as
the increasing demands of the people must
swell the volume of imports In other COM
moditles, and the enforcement of the GUS
toms laws under the operations OF the adj
ministrative act of June 10, 1897, by the pre-
vention of undervaluations and the closer
collection of duties. will materially Increase
the revenue, 1t is estim ted that an addI-
tional collection of not less than $4,000, 900
will be obtained under these conditions.
Upon this basis the net loss OF revenue for
the year is put down at 49,, 200
PENSIONS.
The estimate OF $ls' ,26S, Os5, made by the
Interior Departm mt, for the year 1892, Is
based upon the fact that over 10000 of the
claimants for pensions under oil laws have
awaited themselves of the right to present
their claims under the act of June "a,
1890. Claims presented under the new
law Will draw a less monthly rate. and
carry arrearages for only a short time, and
for small amounts, white under the old laws
many of them carry very large arrearages,
and many Of which will have been paid dur
ing the fiscal year 1891 Tue transfer If
claims from the old to the new law will
therefore very largely reduce the average
annual value of pensions, and a reduction
in the amount of averages alone Ia esti-
mated at SO o0o 90 for the year 1854 For
these reasons il Is estimated that the
amount above named for 1s9! will be suffi-
Gent to meet the aggregate requirements
fer this year.
THE SURPLUS
The total apparent surplus on September
TO- when the money str iugency eliminated,
was s9J, 5O9 go So or this amount sA, 2l6.9L9J
was on deposit in the banks, AMI presums-
bly, in circulation among the people, and
S2l, 7o9 s7977 was fractional silver which had
oeen in the Treasury for several years, and
was not available for any considerable dis
oursements. Deducting the sum of these
two items w. 81 ,S26, isL7s, left an actual
available surplus of on y s56,2i7 ,32L 25 The
amount o. the lank-nOte redemption fund
then in the Treasury. which had been trans
ferred to the avEih lie funds by the act
Of July II, 1899 was 50, eco being
substant ally the amount of the avsil-
able surplus on septic mber 10, 1se1 This
bank-note fund had been in the Urea ury in
varying amounts for many years In Au-
gust, 1851 l, was So, SIS, $3.50. VIII ch had
been gradually du-ed by disbursements
20 the amount above named. IL 10 appar-
emit, there fore, that the financial stringency,
under scussion, was not pro luced By the
absorption OF money by re Treasury. but,
~ causes wholly outside OF Treasury oper
atoms At the time wsen thu financial
pressure in Sept nber reached lis climax,
me extraordinarg disbursements for bond
purchases had substantially exhausted the
sntlre ordinarF Treasury accommodations
lad but for the fact that Congress had wise.
= transferred the bank nete r~deIDptioh5
.und to the availab e cash, there would have
Jeen no monty at command In the Treasury.
y which the strdinsd finsncial C 'nd.tiCns
1ould have been relieved, and threatened
panic and d sastcT aveFted- Had this fund
5-en in the ba Ks instead o. The Treasury
he business f he country would have been
djus ed to the I creased supply, and when
IL strain came IL would have been irnpcs-
sble the banks to ct Il Thu Govern