The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1891-12-17
THE NAIioN'S FINANCES.
Extracts from the Report Of Secretary
Foster on the Condition Of Affairs In the
Treasury Depart ment.

SAsS " SiS p0i y.
The revenues OF the government from all
sources for the fiscal year ended June ID. 1881
were SES ~, ,.33.03 The expenditures for the
same period were 4.1.304. 4.O. s6, lea.ing q sur
plus OF t3s .219. .62.57.
To this sum va, added 81. -, ,a.5 .5 de-
posted in the treasury under act OF July
H. 1SoD for the redemption OF national bank
notes; 39,S9.Si5 deposited during the year
on the same account: t3Sl0 received for 1
per cent. bonds issued for intere3. accrued
] On refunding certificates converted during the
year and x,4 l32 81: Is taken from the cash bal
ance in the treasury making total OF si3i. 967.
6S 48. As compared with the fiscal year 1890.
the receipts for 1891 have fallen OF s54Is 81.
There was an increase OF IL, c36, l9s. II in the
ordinary expenditures Among the larger
items OF increase was sl1 5.i. .i91 for pensions
refund OF direct taxes; - 93s.3Ss expenses Of
eleventh census: II 3y8 2yS salaries and ex.
penses United States courts; ~. 1929 for the
military establishment; A.lu769D for the
naval establishment; sl.sla,4-2 for the Indian
service, and ST. s4s9.O96 for pensions.
For the present fiscal year the revenues are
estimated AT Si;s8, 8,00o,uO. The expenditures for
the same period are estimated Ut &t0g. .OJDOU
leaving an estimated surplus for the year OF
t2iU0OU For the fiscal year ending June 30
1888 the secretary estimates a revenue Of &a55-
33s, $50 and expenditures amounting to SAIL. 80
093 or an estimated surplus OF sl40B,2h II is
estimated that the revenue OF the government
was not ony inadequate TO the needs OF the
country. but was very much less per capita
than during the called flush times which
followed the civil war.
/ The important subject OF circulation, the Sec
retary says, has been unusually prominent
during the past twelve months. The strin-
gency in the money market during the sum.
ner and autumn of 1880 was relieved by the
prompt and effective measures OF his
predecessor and disappeared without pro-
ducing the grave consequences which were
feared by the public, but its existence and the
widespread apprehensions which IL caused In
duced revival OF the erroneous idea that the
volume Of money In circulation was not only
inadequate to the needs OF the country but was
! very much less per capita than during the So
called flush times which followed the civil war.
The amount Of money in circulation has been
very largely increased since the close Of the
| fiscal year. The amount july |, 1891. was &l.-
497, 4al50 and the amount per capita was s23.-
Al. The return or gold TO the United States.
! the operation Of the silver treasury note act
and disbursement by the treasury on account
OF the III per cent. loan, pensions, etc. en-
larged the volume on December | to $l.5s:,-
so.oso. and the per capita amount to sas.3s
/ On the subject OF national banks the secIe-
tary invites favorable attention to the recon-
mendations OF the comptroller that the pres
ent law be SO amended as to provide that no
association shall be required to maintain q
bond deposit Of more than al.00J to secure cir
cuatfon; that every association may issue
! circulating notes equal to the par value OF the
! bonds SO deposited; that the monthly with
drawl Of bonds pledged to secure such notes
shall not exceed 1900 coo in the aggregate
and that the semi annual duty on circulation be
50 reduced as to equal one-fourth Of per cent.
| The coinage OF the mints during the last fis-
cal year was the largest in the history Of the
mint IN this country, aggregating 1884, 81.
pieces, valued at s63 6li. .159.3a
During the twelve months ending September
30 the value Of our exports Of merchandise was
S923,O9l l36. against $3.50, ls1.ll5 for the pre-
vious twelve months an increase Of Sael4O27.
/ The loss OF gold by net export duty during
the fiscal year was 46s ,946, 16S. while there was
gain cf silver by excess Of imports over ex-
| ports amounting to 2,.45. 395 The loss OF gold
BY export was materially larger during the last
/ fiscal year than in any .recent year. The
heavy movement commenced In February.
/ 1891. and did not cease until the close Of
July The total amount exported from the
port Of New York during this period was s.0-
s3, ss4. From the large exports OF brcadstufis
/ and other materials from the United States
this fall and winter the movement OF gold to
i this country will continue for some months at
increased amounts. For the year 1873 it will
i be &a55 80. $50 A.
OF the practical effect OF the new tariff law
| the secretary, after exhibiting the figures re-
lating To foreign commerce used by the presi-
dent In his message to congress, says:
The removal OF the duty on sugar has re.
duccd Its price to the consumer and this result
/ Is not In conflict with the doctrine OF protec-
| tion TO home industries. because the limited
domestic production Of sugar under the most
! favorable protective rates is 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
ha p6,s1s srfth thx,rr
by the readju,tment 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 other conditions are not produced
proitably nor extensively in this coun-
! try: adequate protective duties have
been imposed upon articles that come
into competition with our own productions;
new industries have been established and
others stimulated thereby giving increased
employment to American labor and better con.
troll OF our home market to our own people
and the price OF nearly every article OF common
consumption has been reduced to the consumer
'.Inasmuch as q considerable portion OF our
revenues must be derived from duties on im.
ports. II is the part Of wisdom and patriotism to
30 adjust the rates as to have regard first to
the interests OF own people and the rightful de-
mands Of American labor for remunerative
wages.
4 do not believe that any 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.
1 evitable result Of . reduction OF duties with q
view to revenue only
Comparison Of the prices OF goods imported
/ respectively under the old aud new tariffs
where rates have been increased viii
demonstrate that the tarin is tax
upon the foreign competitor In our markets
In the articles extensively produced here.
and the duties are In fact thus deducted
from the foreign market value and are paid by
the foreigner AZ tax for the privilege OF sell.
Ing his goods here At prices dxod by our own
people competing among themselves in their
own market"
/ In referring to the worlds fair the secretary
says the work has been progressing salts
factorily In the preparation OF . suitable con.
tribution by the treasury department to the
government exhibit ut the Worlds Colunl.
bian exposition. Pursuant to the pro-
visions Of the law, the supervising architect Of
the treasury has completed plans for the gov.
ernment exposition building. A contract for
the construction has been approved. involving
an expenditure Of tSl3.7 and work Is going
forward upon the structure.
The secretary reviews at great length our
foreign merchandise; recites the operations Of
the Chinese exclusion act. the alien contract
labor law and the new immigration act. He
makes . number OF recommendations for legis-
Iation on the same line as mapped out by Mr..
Window. He refers TO the Behring sea fish
cries and other important matter which has
been covered by bureau reports.
KILLED BY A CRAZY MAN.
Death Of u Railway Man Mt the Hands ol
= Passenger, Who Commits Suicide.
LA JUNTA, Col, Dec. lO.-A tragedy
occurred here Tuesday night which
cost two men their lives One was