The advocate., 1890-12-10

Of receipts and expenditures ioF the
post Office department are equal, and
these are his statements concerning the
yearly surplus, the customs receipts and
the treasury statements for the current
fiscal year.
The surplus for the year, including the
amount applied 30 the sinking fund was
Si06, ,3l4 ,49603. The receipts for 1890 were
SIG, 030, ,923.79 and the expenditures Sl6, $780,
81 in excess Of those OF 1889.
The customs receipts increased $685.
1928 and the receipts for internal revenue
| 81, ,725, H. 49, while on tho side of oxpendi-
lures that for pensions was Sl9,3l2,075.06 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, $408000,0O0; total expenditures,
$354, ,000,0O0 leaving surplus of $4,000
600 not taking the postal receipts into ac-
count on either side. The loss Of revenue
from customs for the last quarter is esti-
mated at $25, 200, 600, but from this is de-
Quoted gain Of about 8l8,000000 realized
during che first four months Of the year.
For the year OF 1892 the total estimated
receipts are S373, ,0O0, 900 and the estimated
expenditures S867, ,852, ,2O9.42, leaving an on
timated surplus of $l5,147, ,79O.58, which,
with a cash balance of $4,000, 900 at the be-
ginning OF the year, will give SG7, ,l47, ,700.58
as the sum available for the redemption Of
outstanding bonds or other uses
TUE SILVER BILL-FURTHER TRIAL Nj.
CEssARY.
II is evident that the president is We
hemently opposed to the free and un-
limited coinage Of silver as one may dis
cover from the following:
The act directing the purchase of silver
bullion and the issue OF treasury notes
thereon" approved June IA, $780, has been
administered by the secretary of the treas
ury with an earnest purpose TO get into cir
culation at the earliest possible date the
full monthly amounts OF treasury notes con-
templated by It's 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 anticipated and
followed the passage Of the act was intlu-
6uCbu III bOuub uekEbb ny hpeCulhblOu anu
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 effect OF the recent legisla-
tiOn upon silver values, but II is gratifying
to know that the increased circulation so
cured by the act has eXerted and will con-
tinue TO exert more beneficial influence
upon business and upon general values.
While IL has not been thought best TO re-
new formally the suggestion OF an inter
national conference looking 10 an agree
ment touching full use of silver for coin
age at a uniform ratio, care has been taken
TO observe closely any change In the situa-
ton abroad and no favorable opportunity
will be lost 90 promote result which IL is
confidently believed would confer very
large beneats upon the commerce of the
world. The recent monetary disturbances
in England are not unlikely TO suggest re-
examination of opinions upon this subject.
Our very large supply Of gold will, If not
lost by impulsive legislation in the supposed
interest of silver give US position OF nd.
vantage in promoting permanent and
safe international agreement for the free
use of silver as a coin metal.
What intelligent and self-respecting
farmer or mechanic would talk as the
president does on this silver question, he