Indian chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1882-1902, 1892-12-08
rnr MoNrrAnY coNrrRENcn.

THE TREASURY

THE TREASURY
The report OF the secretary OF the treasur,
will attract special interest In view OF the man,
misleading statements as have been made as I.
! the state Of public revenues. Three preliminar,
| facts should not only be stated but emphasized
| before looking into details; First that th,
! public debt has been reducei since March 1889
| Sl55, ,o74 aDO, and the annual interest charges
Sii,6si, ,460; second, that there have been pait
/ out for pensions during this administration on
up 10 November l. 1892 sls2 564, I7s 70, on excess
OF sll4. 46d 3O6 % over tho sum expended during
/ the period from March l. 1855 to March /, 1889
and third, that under the existing tariff up K
December 1 about sg3 900, 900 OF revenue whict
would have been collected upon imported sugarI
| II the duty had been maintained, has gone lntS
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 IL In the
treasury, or depositing IL in banks with
out interests while the government con
tinued 10 pay the very banks intercst, :,
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 maintained
am content to leave the argument where Il
now rests, while we walt to see whether these
criticisms will take the form OF legislation.
The revenues OF the fiscal year ending June
30, 1892, from all sources, warc si2i,sjs, 26) 22
and the expenditures for all purposes were
Sn5,953, s0lb{ leaving a balance Of S9,gi4 45S CO
There was paid during the year upon the pub
lie debt 80 i6L9s The surplus in tho treasury
and the bank redemption fund passed by the
act OF July a. 1897, 10 the general fund, fur
nished in large part, the cash available and
used for the payments made upon the public
debt Compared With the year 1891, our re-
ceipts from customs duties fell off Sl,,05q 2ii0S,
while our receipts from internal revenue in
creased tsssi,s,slS leaving the net loss OF
revenue from these principal sources sS3,7si,
4iI95 The net loss OF revenue from all sources
was t82, ,1T5, 952si.
The revenues, estimated and actual, for the
year ending June 80, 1923, are placed BY the
secretary at s46I, $50 $50 A, and the expendl-
lures OF s4jl, 33l, $50 A., showing a surplus OF
receipts over expenditures OF 1900 0)0 The
cash balance in the treasury at the end OF tho
fiscal year it is estimated will be FL, ,9gs 2s7O3
So far as those 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 tho period OF
uncertainty and during the press Of business
adjustment to the new conditions when they
become known. But the secretary has very
wisely refrained from guessing as 10 the eject
Of possible changes in sur revenue laws. since
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 may be affected by
causes other than new legislation.
The estimated receipts for the fiscal year
June 30, 1898, siaj l2l, S65 sS. and the esti-
mated appropriations s457, ,26i 50 5.s3, leaving an
estimated surplus Of receipts over the ex-
penditures Of So, s6)O003 This does not in
clude any payment 10 the sinking fund In the
recommendation Of the secretary that the sink
ing fund law be repealed l 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 1921, ,ai0 6SL 40 The
retirement Of bonds in the future before ma
turity should be a matter Of convenience, not Of
compulsion- We should not collect revenue for
that purpose. but only use any casual surplus.
To the balance Of t3.,s510llo5 Of receipts over
expenditures for the year 1894 should be added
the estimated surplus az the begin
ming II the year. ssO. .932. 3fl03 and from ihis
aggregate there must be deducted, as stated by
the secretary, about sii 0l9 900 Of estimated uu-
expended appropriations
Tha public confidence in the purpose auu ahii.
iiy u The government 10 maintain the parity oi