The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-09-20


per cents aud sas,s,6,s5 80 OF "a per cent
bonds. aud at the end OF t3e purcha,s was pay
ing per cent. less for tae Il and - per cent.
less for the 4I9s than at the beginning.
During the summer OF 1880 the sEiliful man.
agement OF our national finances averted grave
disaster. and completely restored that conn
dence in commercial circles that hal been
shaken by foreign financial troubles. Within
period of ninety days the treasury department.
discussed over siU,go0,ooo on account OF the
The amount of United States bonds purchased
| and redeemed under this administration since
March /, 1859, 259093 go, at cost of $780,
9ib.y5L The cost OF these bonds had they been
allowed to run 70 maturity would have been
s3j!, 669. i2i showing n saving 70 the government
through these purchases of s5j. 81. 1913.
The annual interest charge March 1. 1889,
was sss.57s, 49, the annual interest charge July
/, 1892, was So 500, sS3, showing decrease under
this adm nistrstion in the annual interest
charge on United states bonds OF 81, eSi,576
The interest bearing debt OF tae United states
| on March /, 1855, the advent of the Democratic
administration, was as follows:
Amount. Annual Int
per cent bonds. - l9i, 5000 5,SL5,7l5 90
| A. re: cent bonds. 250.oo,o0) 1l.25o,oo0 10
4 per cent bonds and
retundg certificates 7s7.els.55o 2s.5ls.s42 90
Totals S., Is2 1900 46,5s4,o57 %
The interest bearing debt on March !. 1882 the
commencement of the Republican administra-
ton, was as follows:
Am0ant Aanual Int
AZ per cent bonds 81 I62sl2 200 $7,527 o99 20
4 per ce1t. bonds aud
refundg certificates 6si25i.030 &c, 26o. $50 90
Totals ...s s4iio6,2so ss4.57s,459 80
The interest bearing debt OF the United States
at the present time, July !. 1892. Is as follows:
Amount Aanaal Int
per cent bonds. Is 25,5p4,5oo 50!,290 70
per cent bonds and
reiundg certifcates 55e,sti,sso oo.sss,5e 20
Totals -. .......s 5s5.o,9.sso .22,ssSsss 20
When the Democratic party assumed control
OF the government IN 1855 the amount of public
money held by national banks was sf3, go, BIB
his amour. increased sinder Democratic
Administration until on April 30. 1883, il was
| Sol, 92l,29l
Bv March /, 1889, this had been reduced to
to s4s,SlS.99L Only about oaefourth of this
was actually required TO be SO held IN the bust
ness of collecting revenues and disbursing ex-
penditures. The remainder was simply public
moneys left with favored banks on de-
posit, instead of being used to reduce
States. The amount has boen raduced under
Republican administration to 1885, go. or
about the same amount as YVES held when the
Democratic party took control OF the treasury
in 1856. That is to saw, these unnecessary bal
ances have all been collected, and the money so
obtained has been employed in paying of the
| public debt.
In addition to the large purchase of interest.
bearing debt. this administration was able to
extend over $4,000 600 of the a. per cent bonds
falling due last September at the rate OF per
| the government, rate lower than any other
| government has ever been able to place public
| loan, aud lower than this government has ever
been able to place it at any preceding period in
! its history.
There ha, been a notable increase in the
volume OF money in circulation since March /,
| 1889. On that date the amount was $1.t04,2 05,-
500 while on July l. 1892, il 81 sos, 1885, or
an increase of $laS ii2, an increase per capita
OF $l-4i During the corresponding period OF
the last administration there was IN increase of
only ss5,42l,sll, and decrease per capita OF Ii
| cents.
Notwithstanding the purchase of over lo7,-
o55,0Jo fine ounces OF silver bullion under the
act OF 1890, and the issue of sos in treas
ury notes, and Notwithstanding the large ex-
ports OF gold from the United States during this
| period, by wise and skillful management OF the
public finances every dollar of money issued by
the government has been kept at par with every
other dollar, OF equally purchasing value. and
every holder OF any obligation OF the United
| States has been able and will continue to re-
| ceive gold coin upon demand.
notwithstanding the large reduction in the
revenues OF the government occasioned princi-
patly by free sugar. the expenditures have been
kept well within the receipts. The receipts of
| the government from all sources from March /,
1883, To July l. 1892 have aggregated $l3l7, 76S-
| Isl, while the expenditures have aggregated
Sl,0T3U73, 93l, showing a net excess of receipts
| over expenditures of s2ia6ss.s50. This surplus
has been used, as shown above in the reduction
OF the public debt
The cash balance in the treasury March 1,
1885, stated by the present method aud inelud-
| States notes, was $l5l $3.50 This was con-
sicered by the outgoing Republican administers.
ton liberal balance, but by August, 1856, not
withdrawing the fact that there was over
sl9a.ooo.0Oo of per cent. bonds outstanding re.
deemabie at the pleasure of the government,
the surplus revenues had been allowed TO ac-
cumulate in the treasury until the balance had
reached the enormous sum nj $N9.l34.2f2
Later II was reduced to $i69 l46,475, but on May
], 1883, il had again increased to $685. l4, and
on March l. 1882 when the Republican admin.
tNts o0C ant
IL was sl72,9 ADS Since March /, 1885, there
has been a considerable reduction OF the bal.
ancc, which on July l, 1892 was 3l26, 692,S 77
Thus the revenues when collected have been
promptly returned to the circulation, but with
out impairing the ability of the government to
meet all its obligations promptly a. they b.
come due. =
Mr.. Wilson then referred to tn, works he had
shared in accomplishing: money for the Tatoosh
cable. the opening of the reserve at Port An.
geles the allowance for the Seattle postofYice in
creased from Sc, coo to $li,00o the appointments
| made for Pierce county, $3j 900 for Thurston
county; Wiliapa harbor got $4,000. Vancouver
got $685. coo and he had secured 81 400 900 for the
Columbia river. spokane got $685., 900 in the frs:
congress- 10000 in the last year and had opened
In her vicinity thousands of acres of reserya.
| ton.
He desired now to say, in face OF that record,
that he stood on the Republican platform
adopted at Olympia from top to bottom. lGreat
| chcering.l He then exclaimed:
Why shouldntI? Why shouldn't open I'm
the fuyallup reservation: Why should not
| help King county to advance her interests and
make work for her lahorer? Ii, by
those utterances, | have invited defeat
will accept II gracefully. and no man will walk
| TO the rear in finer style.
| Mr. Wilson. then. amid cheers and laughter,
| csustiealiy arraiened the Democratic party for
| its squirming and siradi,ing policy on the
| tariff question-always lodging and scheming-
| anything TO catch votes.
| The Republican party had been criticised for
| its generosity to old soldiers Well, for go years
| the wealth of the whole country UP to 1850 was
| only sIi,oop.ooo.0 900: in thirty years, thanks
| 10 protective tariff the wealth
| had more than doubled aud had
reached $4,000. 600 In $50, the farm
| products amounted 10 sLG75 0o0, 900: In 1891
they amounted TO 81 800. 100 From
| ali this great wealth can We no,
| take care of the old soldier in
| his declining ycars-he who gave to us the
| blessing of constitutional nbertys Mr.. Wilson
paid u glowing tribute to the vetarau-;0ean o,
| whose fellows passed over To the great majority
| last year,
IL remained only for him to ask whether ht
had not kept the pledge he gave the people thai
iteleeted be would devote himself 20 the iufere &
| OF the state. He invited investigation aud with
| confidence awaited the result--t,elieving thai
the state would give majority of 1000 10 tn,
| Republican ttckei-thai party seakei lie hops
| upon protection TO every smokestscs
that held up Its mouth 20 the sky, 10 the fl,s
which burned at every forge. protection Il
every interest, To every home % every veteran