The Globe-republican., 1890-12-10
The TREASURY.

Annual Report of Secretary Wlnd0m-EStf-
mate For Pensions-Ths Surplus and
Revenues-Silver furchases and Other
Matters.
WASHINGTON, Dec &-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- It is In
part as follows:
In estimating the revenue for the EeXe
fiscal year the loss from articles transferred
to the free list Is placed at 100. 700 but a.
the increasing demands of the people must
swell the volume OF imports In other COM
modities, and tho enforcement Of the Gus
toms laws under the operations OF the ad.
illustrative act OF June TO- 1897. by the pre-
ventioa of undcrvaluatons and the closer
collection of dut es will materially increase
the revenue, IL Is estimated that an addi-
tional collect ION Of not less than 900
will be obtained under these conditions.
Upon this basis the net loss OF revenue for
the year Is put down at 49,. 10000
PENSIONS.
The estimate Of SIS, loss, mad. by the
Interior Dep artm-nt for the year 1892. is
based upon tho fact that over $4,000 OF the
claimants for pensions under oil laws have
availod themselves Of tho right to present
thoir claims under the oct of June Il,
1897 Claims presented under the new
law will draw . less monthly rate. and
carry arrearages for only q short time. and
for small amounts. while under the old laws
many OF them carry very large arrearaees,
and many ct which will have been paid dur
lag the fiscal year 1891 Tue transfer I
claims from tho old to the new law will
therefore very largely reduce the average
annual value Of pensions. and q red uction
in the amount OF averages alone Is esti.
mated at SO ono go for the year 1882. For
these reasons IL Is estimated that the
amount above named for ls9. will be sufii-
cisnt to mect tho aggregate requirements
for this year.
The total apparent surplus on September
10, when the money str.rgency eliminated
was S99 sos 220 So OF this amount sl4,l 4.9i
WAS on deposit in the banEs, and presum
bly, in circulation among the people, and
SCI. 70y SAT- was fractional silver which had
been In the Treasury for several years. and
was not available for any considerable dis
bursements. Deducting the sum of these
two items. viz. 81 ,s2o, 1913 left an actual
available surplus of on.y S56,N7.3LL2 Is Tue
amount of the Tank note redemption fund
then in the Treasury. which had been trans
ferred to the available funds by the act
of July II. 1872, was SA,Go0OO0, being
substantially the amount of the av iii
anle surplus on September 10, 1880 This
bank ote fund had been in the Trea ury in
varying amounts for many years. In Au.
gust. 1857 1, was sos, s73. $500. VIII ch had
been gradually reduced by disburse ments
to the amount above named 1t is appar-
emit, therefore. that the 6nan cial stringency,
under discussion, was not produced by the
absorption of money by the Treasury. but
by causes wholly outside OF Treasury oper-
atoms At the time when the fntncial
pressure in September reached lis climax.
the extraordinary disbursements for bond
purchases had substantially exhausted the
entire ordinary Treasury accumulations,
and but for the fact that Congress had wise.
ly transferred the bank note redemption
fund to the available cash, there wouid nave
been no money at comnan in the Treasury,
by which the strained financial c,nditi, MS
could have been relieved. and threatened
panic and disaster averted. Had this fund
D.en in the ba ks instead of the Treasury
the business # the country would hay been
adjusi ed to the creased supply, and when
tn strain came it would have been impos.
sible the banks to meet it. The Govern
ment could not have withdr avn it fro II the
banks without compelling a contractiOI OF
their loans and thus dim IN ishng their abu
ity to give relief to their Gus omers
INTERNAL REVENUE.
The report OF tn Com missioner of Intern
al Revenue. showing in detail the orera.
tions of this bureau. is transmit ted here
with. The following summary will disclose
at glance the satisfactory conditions OF
that branch OF the public service. and the
very eff lent and economical manner in
which il has been cOnducted:
The receipts from all sources
of internal revenue for the ifs
Gal year ending June 80 1899.
were Sl42, 594, oS6 81
The receipts from the same
sources Tor tn" fiscal year
ending June 3D. 1889, were...... 40, S4 434 2o
Making an Increase in the re-
ceipts for the fiscal year just
SILVER PURCHASES.
Under tho operations OF the silver bullion
law, the amount Of silver pur chased from
August Il. 1890. to December l. 1890 aggre-
gated l6. 77s, 1855 fine ounces. costing Sls,o7l,-
O75, an average of 81 1l2S per fine ounce
On the LIST IF July. 1892, the price of silver
was s4O4. 6 To July IA, the price had ad
vanced to 81 o.; to August IL, 81 Is, and to
September s1.2l, the highest point reached.
Since that date there has been a decline
with some fluctuations. to the present time
the price falling IA low as $685..
FOREIGN COMMERCE.
The value OIL our foreign 'mnerce during
the last fiscal y. ar was greater Than for any
previous year. 1t amounted to $1.647, lS9. G93,
sg ainst s., 7.53s,o27 during the fiscal year
1873 an Increase of 1886 6,o56
The total value of ex 'orts of domestic
$ll5, OIL PIG over the preceding year, and
was greater than that of any other yea TX
cept 1881.
The total value of the imrorts was $751;
3lO,A9, an increase of SALTS 7Y7 over tn" pre-.
cedinY year. OF which the sum of 50 1sl,55l
represents free merchandise, and So, 1872 8
dutiable merchandise.
Our total imports of merchandis. from
Mexico, Central and South American States.
British Honduras and tie West Indies. dur
ing the fiscal wear 1899, amoua ted to slsS
$40 SIS, or 70. 20 per cent of our total imports
of merchandise
The value of our exports OF merchan Use
to these same countries during the me
period was $50 ST., lo3 or TO-; 9 per cent of the
value OF our total exports of merchandise.
Our total imports aud exports OF M rchan
dis. from and to these countrie. during thu
sam. period. amounted to $3.50 SIC 67s. or IL
per cent of our total imports and exporls Of
merchandise.
ALIEN CONTRACT LABOR
With the aimin stration. at New York, OF
the immigration laws entirely within the
control OF the department, m re satisfact-
DRY and effective enforcement has been pos.
sible of the laws against the introduction
into the United States of laborers who
come under contract The inspectors ap-
pointed by the department work IN er
the direction of and in sympathy with