Wiarus. (Winona, Minn.) 1886-1893, 1890-12-11
AFFAIRS,
Revenues and Expenditures of the Gov
During the Year.

Revenues and Expenditures of the Gov
ernment During the Year.
The revenues of the government from all
sources for the fiscal Year ending June 30, 1890,
were S463 ,963 .OS0. 3D., and the total eXpeudi.
lures for the same period We're S35S.61S, 5S4.52.
The postal receipts have not heretofore been
included i'll the statement OF these aggregates,
and for the purpose OF comparison the sum of
$50. $50, O97.92 should be deducted from both
sides of the account. The surplus for the year,
fund. was S1O5 341.196 .03. The receipts for
1880 We're sl6,o3o,923 10 and the expenditures
Sl5, 739, 81 in excess oil those of 1883, The
customs receipts increased So. S}5 .S42. SS. and
the receipts from internal revenue S11,725,-
191.S9, while, on the side of expenditures, that
for pensions was $40, 3 O75.9 So in excess of the
preceding year.
The treasury statement for the current fiscal
year, partly actual and partly estimated. is us
follows: Receipts from all sources, S4O6, OOO,-
600; total expenditures, $3.50, 600, 900, leaving
a surplus of S52 600, OO0-not taking the postal
receipts into account on either side. The loss of
timated at $50, 900 900, but from thisiis de-
Quoted a gain OF about SIG. DOC, 900. realized
dnriug the first four months of the year. For
the year 1892 the total estimated receipts are
Sd % 100000 and the stimate expenditures
S357 1852, 2u9.42. leaving an estimated surplus
OF Sl5,147. 100. So. which, with Il cash balance
OF So 900 900 at the beginning OF the year. will
give SGT, IA 7, 79Q.5S as the sum available for
the redemption of outstanding bonds or other
uses; The estimates of receipts and expenditures
forthe postotliced department being equal are not
included i'll this statement on either side.
The act directing the purchase of silver bull.
ion and the issue of treasury notes thereon" ap-
proved July il. 1890, has been administered by
the secretary OF the treasury with All 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 hppn observed with rpprat The ra n.
i'd rise III price which anticipated and followed
the passage OF this act was influenced III some
degree by speculation. and the recent reaction is
in part the result OF the same cause and i'll part
OF the recent monetary disturbances. Some
months of further trial will be necessary to de-
terlnine the permanent effect of the recent legis-
lation upon silver values; but it is gratifying to
know that the increased circulation secured by
the act has exerted and will continue to exert Il
most beneficial influence upon business and upon
general values.
While it has not been thought best to renew
formally the suggestion OF an international con
ference looking to All agreement touching the
full use of silver for coinage at a uniform ratio.
care has been taken to observe closely any
change i'll the situation abroad, and no favor
suit which it Is confidently believed would con-
fer very large benefits upon the commerce of the
world.
The recent monetary disturbances in England
are not unlikely to suggest u denomination of
opinions upon this subject. Our very large sup
ply OF gold will, if not lost by Intrusive legislu-
tASt "a VIZ SUPPOSED iNtINS Vi ' SlN US d
position OF advantage in promoting a perma-
nent and safe international agreement for the
free Use of silver as Al coin metal.
The efforts OF the secretary to increase the
volume ofmoney in circulation by keeping down
the treasury surplus to the lowest practicable
limit have been unremittng and in Il very high
degree successful. The tables presented by him
showing the increase Of money i'll circula-
ton during the last two decades. es-
peclaily the table showing the increase
during the nine months he has administered the
affairs of the department, are interesting and in
structive. The increase of money in circulation
during the nineteen months has been in the ag-
gregate 1913 .S66, Sl3, or about 81 so per cap
tia, and of this increase only 81, 100. 600 was
due to the recent silver legislation. That this
substantial and needed aid given to
resulted in an enormous reduction Of the public
debt and OF the annual interest charge is matter
OF increased satisfaction. There have been pur-
chased and redeemed since March, 1889, 4 and
~ per cent bonds to the amount of S2ll S32,-
$50, at d cost of S246, 500. TAI, resulting in the
reduction OF the annual interest charge of So
$40. 7O6.
notice with great pleasure the statement OF
the secretary that the receipts from internal
revenue have increased during the last fiscal
year nearly ST.. 600. 900 and that the cost OF
collecting revenue was less by 9O,61 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.
The customs administration board provided
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 remedied. 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 chef aim of the lawi is to secure honest
valuations OF all dutiable merchandise and to
make these valuations uniform at all our ports
OF entry. 1t had been made manifest by n con-
gressional investigation that Il system Of under
valuation had been long in use by certain classes
OF importers. resulting not only in q great loss