Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1892-12-20

80 10 NNHH| WY |Z"HNN ANNNNNNN "NNNAN A.NNNNN
lions will compel the now reluctant
government TO unto with us in the
movement TO secure the enlarg ment Of
volume of money needed for tie trans.
action Of the busiuess Of the world.
The report Of the secretary Of the
treasury will attract especial interest ia
view Of the many misleading statements
tint have been made as 10 ths state Of
tho public revenues. Three preliminary
facts should not only be stated hu mn.
phas'z i before looking In details. FIRST,
that thu public debt has heen reduced
since March 4, 1888, $3.50, GA. 900 and the
annual interest charge &it ,6si. 400; sec.
ond, that there have been paid out for
pens on5 during this Administration up
to Nov. I, 1892. f432, 504, 1888. 20, an
excess Of sii4,4G6 $780, 90 over tne sum
expanded during the rcrud from March
!, 1885, to March l, 1859; tni,d, that un.
der the cxisfiHg tariff up 10 December,
about sos. 100000 Of revenue VIII Oh
would have been collected upon i'm
ported sugars IL the duty hal be
maintained has gone into the pockets Of
the Te0ple and not into the public treas.
ury as before. II there are any who still
thiuk that the surplus should have been
kept ont Of circulation by boarding it in
the treasury, or deposited it IN favored
banks without interest, while IN, gov
ernment con iluei to ply TO those very
banks in crest upo1 thu bonds deposited
as security for the deposits, or who think
that the OK ended pensions lrgi lation
was a public robbery, or that the duties
upon sugar should have been maintained.
am content TO leave the argument
where L now rests while we wait 70 see
whether these criticisms will take the
form of legislation. Tue revenues
for fiscal year ending June 30,
1892. from all sources were S425,
SOS. 2G0. %, and the expenditures for ali
purposes were s415. 9j3.6 500. 90, leaving
a ba, ance Of 80. 0t4,4l366. There were
paid during the year upon the public
debt $iO,510469. 8S. TIE surplus ~ the
treasury and the bank redemption fund
pass d by the act of July IA, 1899. to
the general fund furnished iE large part
the cash available and used for the nav
ments made upon tn. pubic debt COM
pared with the year 1891. Our receipts
from customs duties fell off $40, 000,-
24l.OS. while our receipts from inter
nal revenue increased SS,284.893 10.
leaving the net loss of revenue from
these principal sources 333, 78l.4l7.05
The net loss of revenue fr IN
all sources was &39, 675. 972.8i
The revenues estimated and actual far
the fiscal year ending June 30. 1893. are
placed by the secretary at $4G3. 336 $780,
A, and the expenditures at SlGI. 33B..
300 AZ. showing "A surplus OF r-ceipte
over expenditures of $4,000. 900 The
cash balance M the treasury at tn end
OF the fiscal year it is estimated will be
$50, 3d., 377.Oj. SO far as these figures
are based on estimates of iercipts
aud expenditures for the remaining
months Of the current fiscal year,
there are not only the u,ual eie.
ments Of uncertainty, but some
added eiements-uew revenue legisla-
lation CT even the expectation may Sc.
riouslY reduce the public dur
ing the period OF uncertainty and dur.
ing the press of adjustment to the
NV conditions when they become
known. But the secretary has very
wisely RETAINED from guessing rs to the
effect OF pDssib o changes in our reve-
nue. laws since the scope of those
changes aud the time Of their taking ef-
iect cannot in any degree be forecast or
foretold by him. His estimates must
be based uuOl existing laws and upon a
continuance OF existing business con IL
tons except so far as these conditions
may be vi cted by causes other than
new Legislation.
The estimated receipts for the fiscal year
ending June 30, 1892, are $500, l21 ,3G5 3Sandl
the estimated appropriations A51, 26l,-
831.t leaving an estimated surplus Of re.
celpts over the expenditures Of 81, $780,
0j0.Q5. This does not tuCiud0 any nav.
ment TO the sinking fund. In the recon
incubation Of the secretary that the sink.
ing fund law be repealed concur. The
redemption Of bonds since the passage of
the law To June 30, 1892, has already ex.
wa.N.N $500 .
0lO,hNl ~. The retirement Of bonds in The
future before maturity should DE a matter
or convenience, not OF compulsion. We
should no collect revenue for that pur-
POSE, but only use n casual surplus. To
the balance Of E3.2SGOO3OO of receipts |
over expenditures for the year 1894 should
DC added the legitimate surplus AT the be.
ginning OF the year S2O,gJ2, 81 Oh and from
this aggregate there must be deducted as
stated by The secretary about E4, 0OO, O00
OF estimated uneXpended appropriations.
The public confidence in the purpOse and
ability Of the government 20 maintain the
parity Of an our money issues. whether coin /
or pnper. must remain mistaken. The demand
Tor gold IN Europe and tho consequent calls /
upon us are 10 a considerable degree the result
OF the eneCts OF some OF the European gov !
ernmenls 10 increase their gold reserves and
those eHorts should be met by appropriations
upon our part The conditions that have ere
ated this drain OF the treasury gold are in an
degree political nud not commer. ]
dal. In vie vof the fact a General rows on Of
our revenue In Ts in the near rlture seems 20
D probable II would 10 better that any
chAnfes should be a part OF that revision
rather than OF Il temporary nature. During
the last fiscal year there were purchased under
tie act OF July a. 1879, A.&5,7 I ounces OF I'll.
yer ana Issued In payment thereof ell,iOG COS
In notes The total purchases since the past
OF the act have been i20.41g.S9 ounces
ana the aggregate OF notes issued 6~ii67slagO.
Ihe average price paid for silver during tee
year was 9tc er ounce. the highest price being
Q Us July : 1891, ana the lowest sc March
In view OF the fact that the monetary confer
euce now betliug and that uo conclusion has
as yet been reached, Withhold any recon
ingndailon A. 10 the leg station upon
srcistary a. var iebhyrooa :" oosHSg
10 tue attention Of congress some important
tuggestiols az 70 the reorganization Of the IN
iantry and artillery arms Of the service.
Ihe rap1u OF the postmaster general shows
d most gratifying Increase and a most efficient
aud progressive management OF the business
~ Revenues in tue number OF postJlices aud
IN the miles OF mHll Interchange furnishes
luflhtr evidences OF the bigh slate OF pros
'stly Hhlch or people are enjoying Rev
uilccH mean new hafuIets aud towns, aud new
routes mean the extension Of our b rIer set
ana lncrrasfd revenues mean active
The postmaster general reNiews
VIC whole perrod OF bis udmiuistratlon Of the
orice aud brings some Of hiH atatistlcs down
70 me month Of November last lne postal
revenues have Increased durlng tho last yeAi
nearly q lJ Pig TIE deficit FOR tho year end
cloncy furthe preceding year. Tho deafirncy
Di tue Present nHcal yu5r, 70 b. estimated, VIII
b. reduced 20 sL.h1Lf3. which viii not only be-
aKitugui.hed du Ing the neat fiscal
lcar bat surplus Of nearly ST.
lnliuD should thea lie shown. IN
those calculation the payments 10 be made
under the contracts Tor uOuHu mail service have
not bcen concluded. There have ben added I
new mail routes during the year, With d
mileage % sos miles aHd the utul uumbtr OF /
new miles OF irlps added during the year he
leaily lAuulu1. The aufnbcr Of miles Of mall
lnntheya added duriml tue lat four years Is
shout 1850 ttu; this gdditiou beiug HlUu.UA /
miles more than weIciu operation iu The whole
fuuntff la ltl. The numb OF postolnees has
0ren Increased BY EfOdudng the year. and dur
.hf thc past -FOUR years aud up To October eg /
asl the lolal Increase ih thr nuinher OF omces