Telegram-herald., 1891-12-11
FIGURES BY Mr.. FOSTER
ondition of the Finances Accord
ing 20 the secretary.
:yTRscTS fRog his ly5uaL REPORT
60 shs PsssiAsns anA ths Tus oeusss o1
ssngrss-EsesiPts ssd sxpssda-
tarss or Ghs D~partUese-A
s1rplss 81 e3s.sSs, 763.


y - "a ~ <0< ~ ~.
To tAis sua sas adSsa 81 CO s7s = ce
Po>sasd Ia sas treasury sAass sss Of Jsy
IL issa rr tks Esaag pgisa sf RAtisazl e<ag
astes. - 53.sls dc sositez drFins tae year
ca E-e ssaas account; k.so received fer :
PER eeak senes issset for interest accrued
en feiE1aias esfsiecssss converted during the
year az.a sss ~ go Is taksa lron the cash bal
sacs u tAs usssary. making = Total Of Elsa 49,
ga "a As eoa pared with tss esesl year ls3Q
tas receipts Tor 1891 have fa len OF H.siSs<7.5s.
There Was al decrease o; t37, ecs -. IL in tbs
ozaiaafy expenditures Among ths larger
issras os increase WAS eii sal ss7 for renxtens
rofuac Of diree. taxes, - s3a. ss5 expenses sf
eleventh caasas. e. sss 90 salaries and aI.
p>ases Ua.sed States courts: q, ~, - Tor shs
nf,f.sry es.zb.lsAn-n,: aiJTs0 fer the
naval esta6,ishEa1ns; o.. .sla4a for the Indisa
service sad Sal. est tsz pensions
Essinsss of nSvsnues-
For the prcssat hseai year the revenues are
sssr.stst st ss1s ooo. 40. The expenditures fer
tbs same rerted are estimated at sio9 000 ON
leaving IN estimated surplus for the year Of
tsA1o.o0 For she hscei year ending June 80
s&'a tas secretary estimates . revenue ef tt3S-
S5S % ana expenditures anecntsag to tsii.1o0-
e3a az sn estimated surplus OF tiAonx5a IL il
est,aa "a taas the revenue OF the yosernuens
was mot oaly insdequate TO the needs Of tho
country. bat Was very much less per capita
thaa curirs tis 80 called hush times which
followsd the civil war.
The Circulation Increased.
rhs insport42t sub!cet OF circulation. tie sac
retary says, has been unusually prominent
durlsg the pss. twelve months The strin-
gercy in the money market during The sum
mer ard aotunn ~ 1870 vas relieved BY the
prompt and effective measures OF his
predecessor and disappeared without Pro
duciay tho grave consequences which were
feared By the pubic. but its existence and the
Widespread spprehens.ors which It caused In
dacet y revival OF see erroneous idea ta&t tic
volume OF moley in circulation was not only
inadequate TO the needs OF the country bus was
very much less per capita than during the so
called cush times which followed the civil war.
The amount Of money in circulation has been
very largely incr Ssea since the close OF the
fiscal year. re amount July !, 1891, was 3l.-
<sf. 5o'. and the amount per capita was s2Sl-
IL. Tae return OF gold to the United States
the operation OF the silver treasury note act
and disbursement: by the treasury on account
OF the "a per cent. loan. pensions. etc. en-
lerged the volume On December TO 3i.57c,-
ses.vso. and the per capita amount to So. "a
Sationsl Banks.
On the subject OF national banks the secre.
tary invites favoraDls attention TO the recon-
nentations OF the comptroller that tkc pres
EFT Law be so amended as to provide thai no
association shall be required to maintain .
bond deposi: OF moro than 1000 TO secure cir.
cu.atioe: that every association may issue
circu. aiing notes equal TO the par value Of the
bonds SO depositsd that the monthly with
drawl OF bonds pledged to secure such notch
and that the semi annual duty on circulation be
% reduced as to equal cne-fourth Of 1 per cent.
Coinagc.
The coinage o. the niats during the last A.
cal year was the largest in the history Of the
mint IN this country, aggreRat:ng ll9, 547, 81
pieces. valued 1t tc3sll. .l5esa
Exports OF Merchandise.
During the twelve months ending September
% the value Of onr exports Of mercha Adise was
esooi. i6. against sase,l77.ilS for the pre-
vious twelve uacnths. an increase OF "a l407.
Imports OF Gold.
The loss Of gold by net export duty during
the fiscal year was so7. .sa5, 'cS while there was
. gain Of silver by excsss Of imports over ex-
ports amounting 10 q, ,s5 3es Tie loss OF gold
by export was materially larger during the last
fiscal year than in any recent year. Tho
heavy movement commenced In February,
1891. and did not cease until the close OF
July. The total amount exported from the
port Of NSw YORK during this period Was $40.
scs 4eS. From the large exports Of breadstufrs
ard other materials from the United States
this fall and winter she movement OF gold TO
this country viii continue for some months at
increased amounts For the year 1919 II viii
be elsS. sc. s5o4A
The Tariff.
OF the practical eject Of the new tariff Law
the secretary, after exhibiting tho figures re-
lzting tn foreign commerce used by the presi-
dent In his message TO congress. Gays:
The removal or the duty on sugar has 70
duccd its price to the consumer and this result
Is not In conflict with the doctrine Of protec-
tion 10 homo iAdustriea because the limited
domestic production Of sugar under the most
favorable protective rates Il not Sufficient to
influence the price In the home market. Under
the operations Of the new tariff the customs
revenue has been decreased as far as Is consist
ent with the curreat needs CT the government.
by the read ia stnent Of duties in the line OF
protection to American labor and American in
dustries the free list has been enlarged By
the addition OF articles which from climatic
or etAer conditions are NOS produced
prcntabiy nor extensively In this coun-
try; adequate protective duties havo
been imposed upon articles that como
into ec0petirou with our own productions;
new Industries have been established and
others stimulated. thereby giving Increased
employment TO American labor and better con-
troi Of our homo market 70 our own people
and tho price o: nearly svery article Of common
consumption has been reduced to the consumer
'.Inasmuch as . considerable portion Of our
reyenues must be derived from duties on I'm
ports /, is tue part OF wisdom and patriotism 70
80 adjust the rates as 70 have ressrd nrst 70
the interests OF own people and the rfgh:ful de-
manas OF American labor for remunersiiys
wart4
L. dc not believe that say considerable mum
Der OF the people desire TO see our manufact-
uring industries destroyed or wages reduced
to the European basis. which would Be the In
evi;abie result Of 3 reduction Of duties with
view ts revenue osiy.
'Coripar;son o; the prices OF goods imported
respectively urder the cid and new tariffs
where rates have been increased Will
demonstrate that tie tariff il tax
upon she foreign competitor in our markets
IN tbs articles extensively produced hers.
and the duties are IN fact thss Deducted
| frcm tbs foreign market valus snd are paid ~
tns foreigner "a tar for the privilege sf sell
| Tag his goods here at prices nxed By eur Own
people competing among themselves v theiR
cwa market"
The worlds Fair.
In referring 70 the vords fair the secretary
says the work has been progressing salts
| fsctcrily IN the preparation OF . suitable con
| tribaticn ~ the treasury department 70 shs
| government exhisit si The worids Ceiun-
1 bias espoxiffon Pursuaas 70 the Pre-
vissens ef tae lsT, the Supervising srehff@et es
| tae ireasary has oezpletsd plans for the gov
| ernnsas exposition eufdna contract foe
| the eesstruction has BEEN approved ievolvins
| sn expentfsare 81 Ssi2ssT. sad work is going
| forward spoa tA. structure
Nss~egiasecus
| TIE se--.sary reviews 81 ereas ieassh sns
4 ssrelen rssrcAss1sse. reeftss he operations OF
\ the Chiaess exe{usion set the siien contract
| lahev is~ and tse rev inxisrstion set He
1 nakes . samser ef rsccs ne ofatisss for iests
| lsslss. - the ssns line - n>pp>a sss ~ Mr..
\ wtsscrz. He rsfers 20 sse besrsse ses ssh
| cries sse other fsarr~t.ns nsss~r sAses hes
1 bees eseerea ~ hor<ss rsrsrtS
| sp~~iss Message
WAsnfvsTox. Dee. ie The aSsedce
| of suy references 10 the worlds fair IN