Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1892-12-08
FOSTERS REPORT.
A VOLUMINOUS DOCUMENT SHOWING TAB
CONDITION
OF The Treasury Deparmsns-Hs Refuses to
Make Estimates for the Futnrs-Quarantins
and lmmigratOn-Ths Sealing
Industry.


penditures S4l5, 953, 500, leaving surplus
Of IS, 9l4,454 With the cash balance, the ma
tional bank redemption fund, and few
small items added, this surplus was S40,'
b7O, 46S, which viii be applied TO the pay
ment OF the public debt. AS compared
with the fiscal year 1891 the receipts for
1892 have fallen on So. 675, 972. the princi-
pal losses being in customs receipts, S42,-
OG9,2 4l, ana in profits on coinage $5,6Sl, 41Q.
On the other hand there was a gain Of
S. 2S4 S2S in Internal revenue receipts OF
in sales Of District Of Columbia
bonds S2,4l2,744 In the Ordinary
expenditure there was decrease Of
SO SAC, 54t which is accounted for by dimin-
ished payments for direct tax, refund Of eX-
cessiye customs, deposits, draw backs, cen
sus, QuartermGsters, supplies and interest
Of the public debt. The decrease in the
last item alone being Sl4, 10000. For the
present fiscal year the revenues are esti-
mated: From custom Sos, OOO, 600, from
internal revenue &l65, 0O0,O 900, from miscel-
service $50, 3}6, $50. Total estimated
revenues 1858, SS6, $50. The expendi-
lures for the same period are
estimated as follows: For the civil estab-
hshment SlOS, 100000, for the military es-
adjustment $40, 900, coo cor the naval esJab-
lishment s3l, 90 SS0, Tor the Idian services
g. O0U, 600, fCH tensions $l5S 0OO, 900, for inter
estI1n the public ash st, OOO, 900. for postal
service $50. S}5, 35Ol4 Total estimated ex-
peudttures $40. 1876, $50 a, leaving an esti.
mated surplus for the year of 100000
Che available cash balance IN the Treas
urv at the end Of the present fiscal year IS
stated a. $50 9J23I7. The revenue Tor the
fiscal year 1894 is estimated at 500, l2l,-
S55 aud the appropriations required $751;
26l. $50 exclusive Of the sinking fund or an
estimated surplus with the cash balance
above gold reserve would make tho avail
able balance S53 So. 407 and deducting &C
crUed or accruing obligations (nali con-
tracts and redemptiOnsJ would leave the
balance So, 352, 40f.
Chargeaole against this are Unex-
pended river and harbOr and ord
nance appropriation amounting 10
taken OF the sinking fund requirements /
amounting TO $4,000, 900, beyoLd redemp- |
tsons estimated az t5,OOJ, 900. The eSti- /
mated receipts, says Secretary Foster, are /
based upon conditions prevailing prior 10 7
the late election. Public opinion having 4
decreed % change OF policies particularly in /
the tariff laws, the altered conditions re- [
sultiug therelrom render IL impossible az 1
The present time 10 estimate the annual III /
cone with any marked degree of accuracy, /
aud 10 is impossible 70 predict the effect ,
that such proposed radical changes would .
have upon the future revenues or /
The government. The Secretary further
says that he will not estimate
further, but that inevitable result OF the
tariff reduction agitation will be a falling
of in impOrJaliOus Gud in revenue, the ex-
tent OF which no one can measure. He does
say. however thar all the facts fully justi-
fcs the ooluiOn that the large increase Of
receipts ascriOed 70 the marvellous pros
De-ty OF the country under present reve-
nue. system. wOulC 4 continued, enable the
department during the coming fiscal year
10 meet all Obligations without the slightest
t.uue 20 show material improvement in It's
oud.ton. Touching the sinking
- act the report states 4
Nup to June 80 Ut /
more than IS required bSslav .
So Sl.tEe I'D HeEecom- .
mends the repeal OF the act OF March 3, /
1884, author zing the application OF surplus /
money 10 the purchase or redemption OF /
Uniied States bonds. In view Of the large .
decrease ia the national Dob, already ei- \
fccted and The probable fCt condition or /
rational finance TOuchuc me sold re- \
serve. tee report saws the Treasury has I
ou HAND above the tlOO 600 redemption 7
fund. 70 keep a sufficient stock OF gold, and \
IF the shipments continue as large 2s they I
have been during the pas, two years the
gold in the Treasury viii be diminished /
below the reserve line.
The maintenance OF silver az par has .
alec increased the possible charge upon the /
gold reserve, and therefore the secretary /
suggests that the reserve for the redemp- /
i lion Hrrrrr .NnH no
Increased to the extent OF az least 20 per .
cent on the amount of treasury notes IS .
sued or to be issued under the act OF July /
IA 1890. The secretary says;
"As will be seen by the estimates sub /
mitted, TIE receipts Of the current aud the T.
next fiscal year are not likely II present /
conditions continue % fall below eXpanci- I
tares. Vet Ia view OF tne fact /
that tne surplus for this year
win be small upon tue basis .
stated, with Re probability OF falling of \
in receipts "a causes mentioned, think
the revenuesl iould be 80 increased as 70
enable the aSury Department TO main
tain a gold n rive OF not less than Sl25,-
100000, and 10 maiutain a comfortable
working bal knce in the treasury cash. As
b geplefal revision Of our customs laws is
on probable do not feel like suggesting
~ special method for increasing the rev
enue, though ] should otherwise think that
IN additional tax on whisky, which could
te collected without additional cost, would
t0cnish an easy method"
I'm regard to the monetary conference he
says: This conference Is now In session.
As yet httlc is known as 20 what its action
may be beyond the general fact that the
subject or the better use Of silver as
money metal is receiving its earnest Otten-
ton. Whatever may be the outcome ofthe
conference il is safe 10 predict that
clearer ideG viii be had Of the views and
purposes Of the countries represented. He
gives statistics 20 show The success
)f the reciprocity treaty now IN
operation and SAYS the result or
reciprocity viii be enlarged mar
zets tPr our agricultural and marufactur-
I'd products and increased employment Tor
,ur ships The Secretary refers with
nrcl satisfaction 10 the benefit accruing
r0m the operation OF the administrative
,ct' of June To- 1890, which shows that
9th the importers and customs officers
sc obtained relief from many evils 10
sllfeudcd 90 remedy. The Secretary
ews past recommendations the more I'M
ant Oelog the abolition or al fees
missions nov allowed collectors and
7y0rs AID tue establishment o. fixed
Ne \c0nsoli dation Of customs dis
AtNe clothing OF the secretary /
u abolish districts and dis
ports; the revision and
enavigation laws which is
Awith such notifications
as are required for the :
ervice. The work the {
hardly be done by a {
agrees engaged on other ]
ecommends the appointment {
for the purpose Of cOdify- .
these laws
.Dle showing toe values of
DOr.s of the United States
fiscal years from 1857 TO
-,.b4.,s hn save. tsrrhhea