The Sedalia weekly bazoo. [volume] (Sedalia, Mo.) 187?-1904, 1892-12-13
THE TREASURY DEPARTMENT.
What the Report of Secretary Foster
shows Regarding the Finances.

The report Of the secretary of the
treasury will attract special interest in
view OF the many misleading statements
that have been made as To the state of pub
lie revenues. Three preliminary facts
should not only be stated but einphas ,zed
before looking nto details; first, that the
public debt has been reIu .eti since March
9Th, lssa, saaJ9, ga aOl, and the annual inter-
est charges SIl, Js3 iiI; second. that
there have Deed pa.J out for pensions dur
Ing this administration up 10 November l.
lS9.- 1872 Jda, las. ~, an excess # 81 T. i6tj
3y609 over the sum expended during the
period from March l. $50 10 March /,
tarih up 10 December ], about S93 40, 600
of revenue, which would have been
collected upon impOr ed sugars ii the duty
had tern maintained. has gone into the
pockets of the people and not INTO the
public treasury, as before. If there are
any who still think that the surplus should
have been kept out OF circu alton by
it in banks without interest
while the government continued
TO pay the very banks interest
upon the bonds deposited as security for
the deposits, or who think that the ex-
tended pension legislation was u pubic
robbery, or that the duties upon sugar
should have been maintained, am content
De
while we wait to see whether these criti-
cisms will take the form of legislation.
The revenues for the fiscal rear ending
June ~ lsg.. from all sources, were x42a.
SIS. 6 %, and the expenditures for all
purposes were $4l5.9 1906. So leaving q
balance of s9,yi4,45i66. There were paid
during The year upon the public debt
a., 81 ',46..9s. The surplus in the treasury
and the bank redemption fund. passed by
the act Of July II. Is9 to the general fund,
furnished in large part the cash available
and used for the payments IN ide upon
the public debt. Compared with the year
1891. our receipts from customs duties fell
OF VA, ~, "a .0S. while our receipts from
internal revenue increased IS. 2o4.S 8 Is,
l.av NJ the net loss OF revenue from these
principal sources $.s,is5.4i5 The net
loss OF revenue from all sources was ST.
t75.g12 ST.
The estim4 ted receipts for the fiscal
year June 3Jth. l>.3. are $3.50, II Do i3S,
and the estimated appropriations S557,-
2jl, S35 3D. leaving an estimated surplus Of
receipts over the expenditures Of So, SO :.
O3O.;5 This does not include any pay
ment to the sinking fund In the recon-
mendation of the secretary that the sink
ing fund law be repealed,
concur. The redemption Of bonds since
the passage of the law to June 81. 1897,
has already exceeded the requirements by
Tue sun VI SSSV.JAV-uCA-fs.
Of bonds in the future before maturity
should be a matter Of convenience, not Of
compulsion. We Should not collect reve-
niue for that purpose, but only use any cas-
hal surplus. To the balance of s.,2 500. % ,.05
OF receipts over expenditures for the year
1894. should De added the estimated sur
plus al the beginning Of the year. SO, S9o, :
S7I03; and from this aggregate
there must be deducted, as stated
by the secretary, about $i4OOJ, o.
Of estimated unexpended appropriations
The revenues es,imlted and actual for
the fiscal year ending June 81, 1898. are
placed by the secretary 1t Sass, 3Si. S,a. ~,
and the expeud lures at $iGl.3 >, 81 4,
showing surplus OF receipts over expend.
lures of 10000 The cash balance in
the treasury at the end of the fiscal year,
it is estimated will be 81 80. 3ssO3
So far as these figures are based on es-
Inmates of receipts and expenditures for
the remaining months of the curreat fiscal
year; there are not only the usual clements
Of uncertainty but some added elements.
New revenue legislation. or even the ex.