Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-12-02

Guided IN the statement OF these aggre-
gales. and for the purpose OF COMPARISON
the sum of $50 $50 ,09I 80 should be de-
Quoted from both sides of the account.
The sureties for the wear, including ths
amount applied to the sinking fund,
was $40 .3ii 1876 OS. This receipts for
1890 were SI6 $50 .923 20 aud the expeu-
diiures Sl5, 739 81 in excess OF those or
1889. The customs receipts increased
s., S3j ,S42 SO aud the receipts from iu~
ternaI revenue Sli. I25, 1871. SO. while Oh
the side OF expenditures that for pen
sions was $40, 3l2 ,O75. 90 in excess Of the,
preceding year.
The treasury statement for the cur
rent fiscal wear, partly actual and partly
estimate, is as follows: Receipts from
all sources, S4O6 ,OcO 900: total eXpeudi-
lures. 1854 600 900, leaving surplus OF
So 200 900. Not taking the postal re-
ceipts into account on either side, this
loss Of revenue from customs for The last
quarter is estimated at SO. UVO ,UvV.
From this is deducted 2 gain of about
SIG 900 GOO realized during the first four
months of the year.
For the year 1892 the total estimated
receipts are 1913 900 600, and the esti-
mated expenditures $685. $50 .2O9 ~,
leaving Ill estimated surplus OF SO a.
fSU. % DlCU with Il GlsGl DGlutCe tA
So 900 600 e. the beginning OK the year
will give Sol .l41 100. IS as the sum
available for the redemption of out-
standing bonds or other purposes. The
estimates of receipts aud expenditures
for the postoiiice department being equal
are not included in this statement on
either side.
PURCHASE OF SILVER.
The net "iirectng the purchase OF
silver bullion aud the issue OF treasury
notes thereon approved June II, 1872,
has been administered by the secretary
Of the treasury with an earnest purpose
to get into circulation by the earliest
possible date the full monthly amounts
of treasury notes com pie,ed by its pro-
visions and at the same time 10 give TO
the market for silver bullion such sup
port as the law COutempla;es. Tbs re
cent depreciation in the price OF silver
has been observed. The rapid rise in
price which anticipated and followed the
passage of the act was influenced in
degree 10y speculation, and the recent
reaction is III part the result of the same
cause and in part the result of the recent
monetary Disturbance some months or
furthar trial will be necessary 10 deter
mine the permanent effect Oi the recent
LEGISLATION upon silver values, but II 3
gratifying TO know that the Increased
circulation secured by the act has eX-
e-tei, and will continue 10 exert, more
beneficial influence upon business and
upon general values.
While il has not been thought best TO
renew formally the suggestion of an i'll
tprUatioual conference locking 10 an
agreement touching the full use OF silver
fer coinage ut uniform ratio, care nus
been taken to observe closely any change
In the situation abroad, and no favorable
opportunity will be lost 10 promote IL re-
suit when it is confidently believed o.
would confer very large Dement'S upon the
commerce. of the world. he recent
monetary disturbances in England are
not unlikely 10 suggest Uu exchange OF
opiuion upon this subject. Our very
larg. supply OF gold will, il not lost by
impulsive legislation in Ile supposed in
terest of silver, give us IL portion OF adj
vantage i'll promoting permanent and
safe
INTERNATIONAL AGREEMENT
for the free use of silver as ii coin metai-
The efforts OF the secretary TO Increase
the volume OF money i'll circulation by
keeping down the treasury surplus to the
lowest practicable limit have been unre-
hitting and III a very high degrees sue
cessful. The tables presented by him
showing the increase of mOueJ 10 circu-
latiOn during the lust two decades, anu
especially the table show ng the increASs
during the nineteen months lie has ad-
miuistered the affairs of the department
are interesting and obstructive. 1ho
increase of money in circulation during
the nineteen months has been i'll aggre-
gate 500 ,SG6 ,SI3, or about 30 per cap
- % only 81 lUU .DpU
WAS due TO the recent silver legislation
That this substantial and needed aid
given to commerce resulted i'll an euor-
nous reduction of the public deLt ct the
annual interest charge, ia d matter or
increased satisfaction. There have been
purchased and redeemed since March /,
1889, and 4 I, per cent. bonds 10 the
amount of S2ll 1882 ,450 at cost or
S2iG ,620 al, resulting iD reduction OF
the annual interest charge of IS .9Gl,-
6O9. and a total saving of interest Or
SOL ,516 .7UG.
INTERNAL REVENUE.
notice with great pleasure the state
ment of the secretary that the receipts
from the internal revenue have Increased
during the last fiscal year nearly Sl27.-
600 600, aud that the cost OF collecting
this larger revenue was less by S9o,67
than for the same purpose in the pre-
ceding year. The percentage or cost or
collecting the customs revenue was less
for the last fiscal year than ever before.
The customs administration board pro-
vided by act OF June 10. 1890. was Sc
Iected with great care and Is composed lu
part OF men VI hose previous experience IN
the administration OF the old customs
regula lions had made them fHmliiar
with the evils TO lie remedisd, anu 10
part OF men whose legal aud judicial ac-
quirements aud experience seemed 10 ut
them for the work OF interpreting aud
applying the new statute. The cnief
aim of the Law ia to secure honest vaiua-
tiona of all dutiabls merchandise aud 10
make the valuations uniform at ali ports
of entry. 1t had been made manifest oy
q congressional in Investigation ihat sys-
TEN of differentiation had been long IL
use by certain classes of importers, re-
sultins not only in u great loss or rev.
enue. but in most intolerable discrimi-
nation against honesty. 1t Is not seen
how this legislation. when It Is UNDER
stood. can be regarded 10y citizens of any
countrs having commercial dealings