The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-12-08
EXPENSES AND RECEIPTS,
Annual Report OF the Secretary of
the Treasury for the Past
Year.
Customs Receipts Fell Off Forty
Two Millions Under the
Mckinley Law.
Mr.. Foster Figures Outm Surplus of Barely
Two Millions for the Current
Year.

WASHINGTON Dec. 1.-THE annual report
of Secretary Foster shows that tho govern
msnt revenues from all sources during the
past fiscal year were $425 8GS. .2Ge and the
expenditures $415, ,953. BOG. leaving surplus
of 1894. 453. With the cash balance in
national banks, the redemption fund and
few small items added. the surplus was $40,-
750,4 which WAS applied to the payment
of the public debt. Compared with the
fiscal year 1891 the receipts fell off S32, ,675.-
972, the principal Losses being customs re-
ceipts, $42. .0G9.241, and in the profits on
coinage, S5GSl,479. On the other hand
there was gain 0: $4. $50 in internal
revenue receipts, $2,412, 44 in sales of Dis
trict Of Columbia bonds and other matters
which make up the difference. Interest on
public debt decreased Sl4. lG9,O19. For the
present fiscal year the revenues are estimated
as follows: From customs $198 600. OOO in
ternal revenue $l65. 100000. miscellaneous
$2O,0OO,000. postal service $50. 33G, $50, total
$4G3, 336. $50. The expenditures are esti-
mated as follows: Civil establishment
$1O8.0O0,000, military establishment $49.-
100000. naval establishment $31, 100000.
Indian service $9000,O0O, pensions $685.
0,000. interest on public debt SIG, O0O 600,
postal service $50, 1885, $50. total $461, 1885,
$50, leaving an estimated surplus for the
year of $2.000,000.
The available cash balance in the treasury
at the end of the fiscal year was 1920. 992,-
1873. The revenues for the fiscal year 1894 are
estimated at $3.50. 121, 1865. appropriations
required at $457. 2G1, 1856; exclusive of the
sinking fund or estimated surplus $685.
600, ,03O. which, with the cash balance above
the gold reserve, would make an
available balance of $685. 852, 4O7. De-
Quoting accruing obligations there will be
left $47. .852 ,407. Chargeable against this
are unexpended river and barbor and ord
nance appropriations Of $44 100000. and no
account is taken Of the sinking fund or of
requirements amounting to $4S 900. 900. be-
yond redemption estimated at $5000,0O0
The secretary says the estimated receipts
are on the basis of conditions prevailing
prior to the late election. Public opinion
having decreed change Of policy in tariff
laws, altered conditions render it impossi-
BILE to estimate the annual income with any
degree of accuracy, and 1T is impossible to
| predict the effect of proposed radical
changes on future revenues. But then the
inevitable result Of tariff reduction sgita-
| tion will be falling off in importations
| and revenues. He saws that facts fully
| Justify the opinion that the large increase
| in receipts asoribed to the marvellous pros
| perity of the country under the present rev.
enue system would. if continued. enable
the departments during the coming fiscal
year to meet obligations without impair
ment of its cash. and thereafter continue
| to show material impro cement in condi-
| tions.
Foster recommends the repeal of the act
| tIN- ir,v -
plus money to the purchase of United
States bonds. In view of the large de-
crease in the national debt and the proba-
BILE future condition of finances, the treas
ury has difficulty with the limited amount
of cash on hand above the $100,000.O00 re-
demption fund to keep sufficient stock of
gold, and If shipments continue as large aa
during the past two years the gold in the
treasury will be diminished below the re-
serve line. The maintenance of silver at
par has also increased the possible charge
upon the gold reserve. The secretary.
therefore, suggests that the redemption OF
government obligations should be in
creased to at least 20 per cent of the amount
of the treasury notes issued, or to be issued
under the act of July IA, 1890.
| In view of tho probable falling off in re-
ceipts he thinks the revenue should be in
creased to enable the TREASURY to maintain
a gold reserve of not less than 1926. 900, 900.
an easy method of increasing the revenue.
| The secretary says that whatever may be
the outcome of the international monetary
conference it will give clearer idea of the
views and the purposes of the countries rep.
resented. In passing the secretary says
a good word for reciprocity. On the sub
| ject of customs the secretary recommends
the abolition of fees and the esteblishmen,
of fixed salary for collectors and survey
ors. the consolidation of customs districts
and the investments of the secretary with
power to abolish districts. and dis
continue minor ports; the revision and
modification OF customs and navigation
laws. He also recommends the appoint
ment of commission for the purpose
He gives statistics of American commerce
and American ships and suggests the con-
tinuance of the policy of encouraging
American ship building, against subsidizer
foreign ships, with the ultimate view OF
their use ns naval euXiliaries. The score
tury recommends change in the manner
of disbursing public monies and the settle
ment or public accounts by putting the
entire matter of control and audit under
the direction of the controller general OF
chief comptroller of the treasury.
Speaking of immigration. the secretary il
clearly of opinion that only by rigid exsmi-
nation made ut the place of departure wal
the prohibitive feature of the law executed
with any degree of efficiency. The remed,
lOf tuS OWLS OF lnlnlkTablOn, bne secretary
says is within the control of congress. The
secretary recommends the increase of tn,
head tax. As u measure to determine wha
this tax should be, he suggests that the sun
should be such az will equal2e the cost Il
immigrants to reach South America or Aus.
tralia.
Speaking of Chinese exclusion the secre
tary says that notwithstanding the severity
of the law, many Chinese get into the coun
try, chiefly through Canada. He thinks i
probable large number of Chinese labor
era will enter the United States under thu
p DIVISIONS for the admission of Chimes,
exhibitors Mt the Worlds fair and thei
employees. The so sretnry reuews the recon-
mendation i'll his last annual report tina
early action be taken by congress- towart
such legislation as will make the use of thu
metric system OF Weights and measure
obligatory IN f. .nsactions Mt the custom
house on and {; ter the first day of 1898
On the subject of seal fisheries he says th'
number of seals on tho breeding grounds oil
the islands was found to be smaller thi
year than last.
THE DAY IN CONGRESS-.