The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1891-12-19
Weekly In~telligencer
CONDITION OF FINANCES.
FACTS CLEANED FROM SECRE-
TARY FOSTERS REPORT.
Facts In Regard to the transactions Of
the Year-The Gold and Silver of
the Country -Nationa Bank
Effects of the New Tariff.

port of Secretary of the Treasury Foster
was submitted to congress yesterday.
h secretary reports that the revenues
of the government from all sources for the
fiscal year ended June 30, 1891, were $45S,-
544, g33. OF. The expenditures for the same
period were $451, 3l4, 470. 46, leaving a sur
plus of S37, 239, 753.57. AS compared with
the fiscal year 1899 the receipts fell off
s., AIS, S47.5A, and there was an increase of
S57, 626, 1913. IA in the ordinary expenditures.
1t is estimated that the revenues for the
fiscal year 1892 will amount to $433, 000, O10
and the expenditures to S409, 900, 900.
With reference to the circulation the re-
port says: The ~stringency in the money
market during the summer and autumn of
1899 was relieved by the prompt and effec-
tive measures of my predecessor, and hap
lily disappeared without producing the
grave ~sequ which were feared by
the public; but its existence, and the wide
spread apprehension which it caused, in
duced a revival of the erroneous idea that
the volume of money in circulation was not
only inadequate to the nerIs of the country,
but was very much less per capita than
during the so-called flush times which fol-
lowed 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 81 ,497, 440, 707 and the amount per
capita was S23.41. The return of gold to
the United States, the operation of the
silver act of July IA, 1890, and disburse-
ments by the treasury on account OF the
AZ per cent loan, pensions, etc, have en-
larged the volume u 81, ST., 262, go and the
per capita amount to S24. IS.
The coinage of the minis during the year
was the'largest in the history OF the mint
in this country, aggregating 119,547,S7
pieces, valued as follows:
Gold, $24, liz, 90. so; silver dollars, $780,
232, 800; subsidiary silver, So, 029, 2lS. IS;
minor coins 81, 1856, 1886 so. Total, 500, 6ll,-
49, 5.
In referring to national banks the report
says: 1.-THE last report of condition ex-
hibits the liabilities and resources of the
banks on September 25, 1891. At that
date 3.677 associations reported an aggre-
gate capital of $677, 426, $40; surplus, S227,-
SIC, 1856; undivided profits, $40, 1884. GA. The
gross deposits, including amounts due to
banks, are stated at 2,039, 49,, 1SS. IL, and
loans and discounts at 81 1889, 354, 239, an
increase in both items over any previous
date. These banks held Sl74, 907, $50 in
United States bonds, of which $50, OBS, 600
were to secure circulating notes; also
S18S, SIS, org in specie, $97, 6l5, 60S in legal
tender notes, and $l5, 720, 900 in United
States certificates of deposit.
The tariff next receives attention. The
existing tariff went into effect as to most
of it's provisions on October &, 1880.
Under its operations during the twelve
months ending September ID, 1891, the
first five days of October being under the
old tariff, the value of imports of merchan-
A. 1900 GNOf 4 N 49, -.NA 2F 81
247, 116 over the value of imports of the
corresponding months of the proceed
ing year. OF this total the value of free
goods was 1897, 352, l07, an increase of S11S,
ABS over the value of free imports during
the corresponding months of the previous
year. The proportion of merchandise ad-
mitted free was IS. Is per cent of the total
importation, as against a.32 per cent for
"Of the new associations, ninety-nine
are located west of the Mississippi river
and tifty-nine in the Southern states.
''The present has been more disastrous
than any former year as to the number of
failures, but not as TO the amount of CAPT
tai and liabilities involved.
More than one-half in number of the
banks that became insolvent during the
period covered by the report of the comp
troller were located in two western states,
and their insolvency was chiefly due to the
effects of four successive crop failures,
while the severe depression of business
which followed the s%tringency of last year
influenced in a great degree the failures
that occurred in other parts of the coun-
try"
the preceding year, thus exceeding the
proportions of free goods under any prev
:ous tariff for 4 corresponding period.
For the six mouths ending September
80, 1891, during which sugar has been ad'
mitted free, the proportion of FREQ impor'
tatious was 55.37 per cent, as against 1872
per cent for the corresponding months oil
the preceding year.
For six months ending March 81. 1891
when sugar was dutablc under the new
tariff, the free importations were 4O.6S pei
cent and for the corresponding period OF
the preceding year, under the old tariff,
they were 80. Is per cent of the total i'm
portations.
The removal of the duty on sugar ha:
reduced its price to the consumer, ant
this result is not in conflict with the doc
trine of protection to home ind lust tries, be
cause the limited production of sugar, un
der the most favorable protective rates
was not sufficient 10 influence the price il
the home market.
The repOr OF the cnlel OF Ine bureau y
statistics is accompanied by tables showing
, that prices to the consumer of manufac
. tured articles, as a rule, have not been in
! creased, but have been reduced.
The internal revenue receipts during tn
! year we're: Distilled spirits, SS3, 1886, 1868
"a; manufactured tobacco, S32, 1876, 270.97
fermented liquor, s2S, sos, 1899; oleomal
earine, SLOT, 924. IA; miscellaneous, $3.50
l27. &c.
There were 1902 public buildings con
: plcted and occupied, in course of constru'
lion, not yet commenced, and for whic
properties for sites had been or were bt
ing selected. and titles thereto acquired
under the control of the treasury depar
ment and the supervision and direction {
the office Of the supervising architect du'
ing the year ending September 30. 1891.
Eleven sites remain TO be selected.
The report closes with sugges tions as
limitation of claims.
THE POET AT FAULT.