Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1890-12-04


The surplus for the year, including the
amount applied to the sinking fund, was
S1O5. 344. 1868. The receipts for 1890
were SIG, 080, 92379, and the expenditures
$15, 739, 871 in excess of those of 1889.
The custom receipts increased $685.
8428S, and the receipts for internal rev
enue 81, 725, 1879, while on the side Of
expenditures, that of pensions was $19,-
312,075.96 in excess of the preceding
year.
The treasury statement for the current
fiscal year partly actual and partly esti-
mated is as follows:
Receipts from all sources $406, 100000;
total expenditures 1854 600, 900, leaving a
surplus of $50, 100000 not taking the
postal receipts into account on either
side. The loss of revenue from customs
for the last quarter is estimated at $685.
100000, but from this is deducted gain
of about 100000 realized during the
first four months Of the year.
For the year 1892 the total estimated
receipts are 1913, 100000, and the estimat
ed expenditures 1887, 49,, 209.42, leaving
an estimated surplus of $50. lat ,690.58;
which, with a cash balance of $50 000, DOC
at the beginning of the year will give
$67, AT, 790.58 as the sum available for the
redemption Of outstanding bonds or other
uses.
The estimates of receipts for the post
Office department being equal, are not In
Guided in this statement on either side.
THE SILVER COINAGE ACT.
The act directing the purchase of silver
bullion and the issue of treasury notes
thereon" approved June IA, 1890, has
been administered by the secretary of the
treasury with an earnest purpose to get
into circulation at the earliest possible
date the full monthly amounts of treasury
notes contemplated by its provisions and
at the same time to give to the market
for silver bullion such support as the law
contemplates. The recent depreciation
in the price of silver has been observed
with regret.
The rapid rise in price which anticipa
ted and followed the passage of the act,
was influenced in some degree by specu-
lation and the 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 eff
feet of the recent legislation upon silver
values, but it is gratifying TO know that
the increase secured by the act hassex-
erted and will continue to exert more
beneficial influence upon business and
upon general values.
BI-METALI1sM.
While it has not been thought best to
renew formally the suggestion OF an IN
ternational conference looking TO an
agreement touching the full use of silver
for coinage at a uniform ratio, care has
been taken to observe closely any change
in the situation abroad and no favorable
opportunity will be lost to promote re-
suit which it confidently believed would
confer very large benefits upon the COM
merce of the world.
The recent monetary disturbances in
England are not likely to suggest a re-
examination of opinions upon this sub
ject =, >,
Our very large supply of gold will, If
not denleted by impulsive legislation in
the supposed interest of silver, will give
us a portion of advantage in promoting
permanent and safe international agree
ment for the free use of silver as coin
metal
INCREASING CIRCULATION.
The efforts of the secretary to increase
the volume of money in circulation ~
keeping down the treasury surplus tc
the lowest practicable limit have beer
unremitting and in a very high degrees
successful.
Tables presented by him showing the
increase of money in circulation during
the last two decades and especially the
table showing the increase during the
nineteen months he has administered
the affairs of the department are inter
esting and instructive.
The increase of money in circulation
during the nineteen months has been in
the aggregate 500, 1865 13, or about 81 sc
per capita, and of this increase only ST.
| 100000 was due to the recent silver lie gls-
| lation.
That this substantial and needed aid
| given to commerce resu ted in an enoo-
NOUS reduction of the public debt and
! of the annual interest charge is matter Of
increased satisfaction.
There has been purchased and re-
deemed since March 4, 1889, and ~
per cent. bonds to the amount of SPILL
852, 450 at cost of $246, 500, 741, resulting
in the reduction of the annual interest
charge of $S,967 900 and a total saving of
interest of $51, SIG, 7O6.
notice with great pleasure the state
ment of the secretary that the receipts
from internal revenue have increased
during the last fiscal year nearly $12, OOO,-
900 and that the cost of collecting this
larger revenue was less by $9O,617 than
for the same purpose in the preceding
year.
The percentage of cost of collecting the
customs revenue, was less for the last
fiscal year than ever before
CUSTOMS ADMINISTRATION.
The customs administration board pro-
vided for by the act of June 10, 1890, was
selected with great care. and composed in
part of men whose previous experience
in the administration of the old customs
regulations had made them familiar with
the evils =. &c = se remedieG5, ord an. 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 statute
The chief aim OF the law is to secure
honest valuations Of all dutiable mer-
chandise and. 90 make these valu ions
uniform at all ports of entry.
1t had beeh manifest by>a congress
sional inyestl gation that system of I'M
dervalussion has been long In use by