The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1892-12-16
The TREASURY.
Report of the Secretary of the Treasury
Government Revenues and Expendi-


port of the secretary of the treasury
shows that the government revenues
from all sources during the past fiscal
year were 1926. SOS, 259 and the total ex-
penditures s4l5, 953. SOC, leaving a sur
plus of 9,O14,453. With the cash bal
ance, the national bank redemption
fund and few small items added, this
surplus was $40, $50 4GS, which was APP
piled to the redemption of bonds and
the national bank notes. As compared
with the fiscal year 1891, the receipts in
1892 have fallen off sS2,675, 9T2. The
principal losses were customs receipts
$40, O69, PAL and profits on coinage So
5Sl, 479, but there was gain of IS, 2S4,
S23 in internal revenue receipts and of
81, 99S, $50 in sales of District of Column
bia bonds In the ordinary expenditures,
there was a decrease of $40, 349. 354,
which is accounted for by diminished
payments for discount taxes, refund of
excessive customs, drawbacks, census,
quartermaster's supplies and interest
on the public debt, the decrease in the
last item alone being l4,169,Ol9
During the present fiscal year the rev.
enues are estimated as follows: From
customs, sl9S, 0OO, 600: from internal rev.
enues, sl65, eco, 600; rom miscellaneous
sources, $50, 00O, coo; from postal service,
$50, $50, $50. II; total 1868, $50, $50. A. The
expenditures for the same period are
estimated as follows: For the civil es-
tablishment, Sos. OOo. 600; Tor the mill
tary establishment, $40. 600, 600; for the
naval establishment. S31 coo. 900; for the
Indian service, s, OOO, GOO; for pensions,
S15S. 600. 0C0; for interest on the public
debt S26. 600, GOO; for postal service,
$50, 1886, $50. Al; total, S4G1, 1876, $50 A.
This will leave an estimated sur
plus for the year of $4,000, COO
The available cash balance in the
treasury at the end OF the present fiscal
year Is stated at S12C, 992, 81. The rev.
enues for the fiscal wear 1894 are esti-
mated at $500, 12l, $50 and the appropria.
lions required S457. POI, 800, exclusive of
the sinking fund or an estimated sur
plus of S32, 500, O30, which with the cash
balance and gold reserve will make the
available balance S53, $50, 407, and de-
Quoting accrued or accruing obligations
leave the balance s4T, S52, 407. Charge
able against this are unexpended river
and harbor and ordnance appropria-
tons amounting to S44 200. 900 and
account is taken of the sinking fund
requirements amounting to S4S6c0 000
beyond redemptions estimated at So
COO GOO.
The estimated receipts are based on
conditions prevailing prior to the late
election. Public opinion having de-
creed change of policy, particularly
in the tariff laws. the altered condi-
tions resulting therefrom render it i'm
possible at the present time to estimate
the annual income with any marked
degree of accuracy and it is impossible
to predict the effect that such proposed
radical changes would have upon the
future revenues of the government
The secretary says that he will not esti-
mate fur;h her but that the inevita bic
result of the tariff reduction agitation
will be a falling OF in importa tions
and il revenue. the extent of which no
one can measure.
Touching the sinking fund act. the
report states that up 20 June 30 5000,
51O.65i more than was required by law
had been credited to the fund. He
recommended The repeal OF the act OF
March ). 1891. authorizing the applica
ton Of surplus money 10 the purchase or
redemption OF United States bonds. in
view OF the very large decrease in the
national Gebt already effected and the
probable future condition of the na-
tionaj finances.
OF the gold reserve. the report says
the treasury has difficulty. with the
limited amount Of cash on hand above
the 500. 000.Ga0 redemption fund. 20
keep 4 sufficient stock of gold. and if
the shipments continue as large as they
have been during the past two years,
the gold in the treasury will be d;min-
ished below the reserve line. The MAIN
.tenance OF silver at par has also in
creased the possible charge upon the
gold reserve, and therefore the secretary
suggests that the reserve for the re-
demption of government obligations
should be increased TO the extent of at
least 20 per cent of the treasury notes
issued or to be issued under the act of
July /, 1890.
The secretary gives statistics to show
the success of the reciprocity treaties
now in operation and says the result of
reciprocity viii be enlarged markets
for agricultural and manufacturing
products and increased employment for
ships.
The secretary renews his past recon-
mendations, the more important being
abolition of all fees, commissions, etc,
now allowed collectors and surveyors
and the establishment OF fixed salary;
the consolidation OF customs districts
and the clothing OF the secretary with !
powers to abolish districts and discon- !
time minor ports and the revision and /
of customs AMI navigation
laws
On the subject OF public buildings, /
the secretary says that the expenditures ,
during the wear ended September 50. !
last, were -. al, 2SJ and the outstand- /
ing contract liabilities s.. S34. 4oS. MAX /
ing total OF S9,5.5.e 94 From present /
he says that between this /
date and the close Of the second session /
Of the Fiity-seconl congress. several /.
millions 81 dollars of the aggregate /
amount q The various balances of APP /
preparations now remaining availa ble 4
ana aggrcEating about SI5.OO3. 600, viii /
bc covered by contract liabilities. I