The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-12-10

III rcSurU 10 inc tarlu tho message
says: 1.-The general interest in the
operation of the Treasury Department
has been much augmented during tho
last year by reason of the conflicting
predictions which accompanied and fol-
lowed the tariff and other legislation of
the last Congress affecting the revenues.
AS to the results of this legislation upon
the Treasury and upon the country on
the one hand, it was commended that i'm
ports would SO fall off as to leave the
Treasury bankrupt and that the prices
OF articles entering into the living OF
the people would be SO enhanced as to
disastrously affect their comfort and
happiness.
while on the other it was argued
that the loss to the revenue, largely the
result of placing sugar on the free list,
would be direct gain to the people
that the prices Of tho necossaries of life,
including those most highly protected,
would not be enhanced, that labor would
have larger market and the products
OF the farm advanced prices, while the
treasury surplus and receipts would be
adequate to meet the appropriations in
GLIDING the large exceptional expendi-
lures for the refunding to the States Of
the direct tax and the redemption Of
the 4 Is per cent. bonds.
oOiAoNo Iudt u lull CeSG WILL ue-
velop the fact that the tariff act of the
Fifty-first Congress is very favorable in
it's average effect on the prices of
articles entering into common use.
During the welYe months from October
/, 1890, to September 30, 1891, the total
value of our foreign commerce imports
and exports combined) was Sits, $685.
400, which was the largest of any year
in the history Of the United States.
During the year ending September 80,
1891, our imports Of merchandise
amounted to 1924, ,27O, which was an
increase of more than S11, 100000 over
the value of tho imports of the cores
ponding months Of the preceding year.
The average annual value of the
Imports of merchandise for the ten
years from 1880 to 1890 was $500, 1S5, 522,
and during the year ending September
30, 1891, this annual average was ex-
ceeded by Sl32, 52s,469. The value of
FREQ imports during the twelve months
ending September 30, 1891, was S118,-
O02, 3S7, more than the value of free i'm
ports during the corresponding twelve
months of the preceding year and
there was during the same period de-
crease OF $l06, S46,50s in the value of
imports of dutiablo merchandise.
IF we turn to exports of merchandise
the statistics arc full Of qualification.
The value Of such exports of mercha an
disc for the twelve months ending Sep
TENDER 80, 1861, was $923, O91 ,136, while
for the corr ospondipg previous twelve
months it was $3.50, l77,l15, an increase
| OF S52,9l4,02 which is made three
times the average annual increase of
exports OF merchandise for the proceed
ing twenty years. This exceeds in
amount and value the exports Of mer-
chandise during any year in the history
of the Government. The increase in
tho value of exports of agricultural
products during the year referred to
over the corresponding twelve months
of the prior year, was S45. SAG, 1877, while
the increase in the Value of exports of
manufactured products was SIG, S3S, $40.
ut may be argued that our condition
would be better if our tariff legislation
were upon free trade ba sis, but it
cannot be denied that all the conditions
OF prosperity and of general content
ment are present in larger degree
| than ever before in our history and that,
| too, just when it was prophesied they
would be In tho worst state of agita ton
for radical changes in tariff and finan-
cial legislation cannot help, but NAV
seriously impede, business, to the pros.
perity of which some degree of sta bility
in legislation is essential.
IL think there il conclusive evidence
that the new tariff has created several
great industries which will within few
years give employment to several hun
dred thousand American workinpmen
and women. In view of the somewhat
overcrowded condition of the labor mar.
ket of the United States every patriotic
c1tiZen should rejoice at such result
1.-The report of the Secretary of the
Treasury shows that the total receipts
of the Government from all sources for
the fiscal year ending June 80, 1891,
we're S45S, 544, 233.03, while the expendi-
lures for the same period were $i2l, 3O4,-
470.46, leaving surplus of S37,239,-
782.57. The receipts of the fiscal year
ending June 80, 1891, actual and esti-
mated. are S433, 100000. For the fiscal
year ending June 80, 1892. the estimated
receipts are S455, 1886, $50, and tho OK
pendiJures S44O, 3DO,093"
In reference to silver tho MESSAGE
states that during the last fiscal year
the silver exports from the United
States have fallen from IN average of
$1,000 600 to less than Si4. 0pO, 600. and
for the first time silver imports have
exceeded exports to the extent OF
S2, 900. The Government is now
buying and putting aside annually
45,O00,O00 ounces which, allowing for
T,l40OOO ounces of new bullion used in
the arts, is G.6i0.OOO moro than our
domestic product available for coinage.
The message secs no Immediate pros
poets of free coinage and foreb bodies
disaster II it ls attempted at present.
It, however, declares for free silver
when other nations will join into that
end. The entire recovery OF the gold
loss from exportatlo Is predicted dur
ing the spring.
The surplus in the Treasury March