The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1892-12-16
Executive Departments.


The report OF the secretary OF the treasury
will attract special interest in view OF the many
misleading statements as have been made as TO
the state Of public revenues. Three preliminary
facts should not only be stated but emphasized
before looking into details: First. that the
public debt has been reduce1 since March. 1889,
s25501I,20O, and the annual interest charges
out for pensions during this administration on
up TO November l, 1892, s432 564, 30, excess
OF Sill 465. COG. 90 over the sum expended during
the period from March l. 1885 to March l. 1sss:
and third. that under the existing tariff up 10
December about sa5, oo0 900 OF revenue which
would have been collected upon imported sugars
if the duty had been maintained, has gone into
the pockets OF the people and not into the pub
lie treasury, as before. II there are any who
still think that the surplus should have been
kept out OF circulation by boarding 1t in the
treasurv, or depoSiting it in banks with
out interests while the government con-
tinued 10 par the very banks interest,
upon the bonds deposited as security for the
deposits. or who think that the extended per-
sion legislation was public robbery, or that
the duty on sugar should have been m lintained,
L am content TO leave the argument where il
now rests, while we wait to see whether these
criticisms will take the form OF legislation.
The revenues OF the fiscal year ending June
80 1s9a, from all sources, wore sia5, SIS. -,
and the expenditures for all purposes were
Sil59j3, S1i5i leaving I balance of 1914 453 CO
There was paid during Pie wear upon the pub
lie debt S4l570 So The surplus in the treasury
ard the bank redemption fund, passed by the
act OF July II, lS9, 10 the general fund, fur
nished in large part, the cash available AMI
Used for the payments made upon the public
debt Compared with the year 1891, our re-
ccipts from customs duties fell OF si!,069 2i.US,
while our receipts from internal revenue in
creased ss,2Si, S!3lS leaving the net loss of
revenue from these principal sources s3j,7S4,
4lL95 The net loss of revenue from all sources
was So, SIS, 97s.sl.
The revenues, estimated and actual, for the
year ending June 30, 1888, ara placed by the
secretary 1T s46j go, 35J H. and the expendi-
lures at S4jl, 80, 3504i, showing a surplus OF
receipts over expenditures OF 5000 90 The
cash balance in the treasury at the end OF the
fiscal year it is estimated will be - 992, SOB
So far as these figures are based on estimates
OF receipts and expenditures for the remaining
months of the current fiscal year. there are
not only the usual elements OF uncertainty but
some added elements. New revenue legislation,
or even the expectation OF ii, may seriously re-
duce the public revenues during the period OF
uncert Iinty and during the press OF business
adjustment 10 the new conditions when they
become known. But the secretary has very
wisely refrained from guessing as to the effect
of possible changes in sur revenue laws. since
the scope Of those changes and the tue OF their
taking effect cannot in any degree be forecast
or foretold by him His estimates must be
based upon existing laws and upon a cOntinu-
ance Of existing business conditions except so
far as these conditions nav be affected Oy
causes other than new le-islation-
The estimated receipts for the fiscal year
June 80 1893 are sI90, 70, 355 %, and the esti-
mated appropriations s457, 25l. SO $50 leaving an
estimated surplus OF receipts over the ex-
penditures Of 81, l,030O5 This does not in
ciude any payment 10 the sinking fund. In the
recommendation OF the secretary that the sink
ing fund law be repealed I concur The re-
demption OF bonds since the passage OF the law
10 June 81, 1852, has already exceeded the re-
Quirements by the sum OF 500. ol0, 5l.49 The
retirement of bonds in the future before ma
turity should be a matter Of convenience, not OF
compulsioa- We should Rot collect revenue for
that purpose. but only use any casual surplus
To the balance Of 1850, 03jO5 OF receipts over
expenditures for the year 1894 should be added
the estimated surplus at the begin
ming of the year, $40, or, 37L o. and from this
aggregate there must be deducted, as stated by
the secretary, about al O)j, 900 OF estimated IN
expended appropriations.
The public confidence in the purpose and abfl-
it, Of the government 70 maintain the parity Of