Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1892-08-04
ONE YEAR OF TARIFF.
Some Figures which Make Particularly
Interesting Reading.


Interesting Reading.
The first year Of the complete opera
ton Of the Mckinley tariff ended with
a net cash balance in the treasury Of
less than half what it was a year ago,
with the net gold in the treasury
50, S25, 1855 less than it was year ago,
and with the imports for the first eleven
months of the year SIC, ,O00, 600 less. The
depletion Of the treasury and the ex-
ports of gold have gone hand in hand
with shackled trade and prohibitory
duties.
The receipts from customs duties, es-
timated by Secretary Foster last No.
vember at SlS5, 100000, have reached
during the year only $l77, 1888, ,034, while
the receipts from all sources, estimated
at $685., 900, 200, have yielded only $685.
$780, ,6s4. The expenditures have been
vigorously held down, but they have ex.
ceeded the estimates by 81 100000 and
have reached 1914, lis, ,94S, without count.
ing any payments to the sinking fund,
The surplus for the year, estimated last
November at $94,00O,OOO, is less than
$9,OOO,O 900.
The bonded debt, which was $610, $780,
100 year ago, has been reduced to
1856, ,029, $50 by the redemption of part
of the AZ per cent. bonds, but the re-
demption money has been taken out of
the savings Of previous years and has
reduced the net cash balance to the low
est point it has touched in many years.
The amount today is $4,000, ,377, where
a year ago it was $50, 3,S93,90S. This net
cash balance can only be made available
in good money by setting off the worn
out fractional silver and the bank de-
posits against the balances of disbursing
officers as their only security.
The subsidiary silver in the treasury
is $14, ,224, ia, and the general deposits
in national banks are $13, ,149, 1888. The
free gold, which was $130, TAO, $3.50 only
six months ago, is now STA 1862 1885, and
as 100000, 900 is the sum which has gen.
orally been considered as set aside for
the security of the legal tender notes.
only $14, 4,342, 1853 remains upon which to
rest the inverted apex of the broadening
pyramid of silver notes issued under the
act of 1890. The issues of these notes
have now reached $101, ,712 ,071, and as
the silver bullion which has been piling
up in the treasury is useless for their re-
demptiOn, the government has only Il
per cent. of their value in gold with
which to redeem them. The accumula-
tions of silver in coin and bullion have
reached the amount Of $449, ,0S3, ,161, ex-
ceeding the entire stock of gold by more
than $190, 100000.
The imports and exports for the entire
twelve months Of the fiscal year will not
be available for some two weeks, but
the figures for eleven months indicated
shrinkage in spite of the growth of the
country, which bodies no good to the
future of foreign trade.
The exports have been large because
of the short crops in Europe, and this
should have brought gold by the mil
lions to our shores; but exports of gold
continue and nothing but the enormous
exports of breadstuffs appear to have
availed to avert the calamities which
the billion dollar congress and the Nc
Kinley tariff legislation invited upon
the country.-Philadelphia Record.