The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1892-12-14

security for the ueposits or who think that
the extended pension legislation was public
robbery, or that the duties upon sugar should
have been maintained, am content to leave
the argument where IL now rests. while we
wait TO see whether these criticisms will take
The revenues for the fiscal year ending juno
3d. 1872 from all sources were s425 1868. ~ and
the expenditures for all purposes wore $4l5.-
9b3,S06.56, leaving balance OF s9Jls, 453.66
There was paid during the year upon the pub
lie debt s40.570,467.9s. The surplus in the
treasury and bank redemption fund, passed by
the act of July IA, 1890, TO the general fund
furnished in large part the cash available and
used for the payments made upon the public
delt. Compared with the car 1891, our receipts
from customs duties fell of $42 O59, 2ilO8
while receipts from internal revenue in
creased ON 10 2S4. s23 IL; leaving the net loss OF
revenue from these principal sources, S33 1874, :
4i7.0J. The net loss OF revenue from all
sources was s32G75,972S1 The revenues, es-
tmSted and act lal. for the fiscal year ending
June 80, 1898, are placed by the Secretary at
s46J 1856 1904 and the expenditu;e o. at S46l 1885,,
3oO.44, showing surplus OF receipts over ex-
treasury at the end of the fiscal year. Ii is esti-
mated, will be S20 993. 377.O3.
SO far az these figures are based upon esti-
naming months OF the current fiscal year,
there are not only the usual elements of uncer-
tainty tut some added elements. New reve-
me legislation or even the expectation OF It,
NAV seriously reduce the public revenues
during the period of uncertainty and
during the process of business adjust
mcnt TO Jne new conditions Wnen tneY become
known. But the Secretary has very wisely
lie 'rained from guessing as TO the effect of
possible changes In our revenue laws, since
the scope OF those changes and the time Of
their taking effect can not in any degree be
forecast or foretold by him His estimates
must be based upon existing laws and upon a
continuance OF existing business condi-
tions, except 30 far as these conditions may
be affected by causes other than new legisla-
ton.
The estimated receipts for the fiscal year
ending June, 30, 1894. are $780, G6j.3S. and the
estimated appropriations S457, 26l 1898. leaving
an estimated surplus of receipts over the ex-
penditures OF $32, $50, 030.0o This does not in
clude any payment to the sinking fund. In
the recommendation of the Secretary that
the sinking fund law be repealed concur
The redemption of bonds since the passage
OF the law to June 80 1892, has already
exceeded the requirements by the
sum of so90,51O,6sl.49. The retirement Of
bonds in the future before maturity should
he a matter OF convenience, not of compulsfOn
We shoIld not collect revenue for that purpose,
but only use any casual surplus. To the bal
ance OF 1872 sec, 030.05 OF receipts over expendt-
lures for the year 1894 should be added the
estimated surplus at the beginning OF the
year, s2O,9o2 377.O3, and from this aggregate
there must be deducted, as stated by the Sec
rotary, about S44,000O00 OF estimated unex-
pended appropriations.
Silver Purchases.
The public confidence In the purpose and
parity of all our money issues, whether coin
or paper must remain mistaken. The demand
for gold in Europe, and the consequent
Seaee tSe result of tho ors of
of the European governments to increase
their gold reserves and these efforts
should be met by appropriate legislation upon
our part. The conditions that have created
this drain of the treasury gold are in an i'm
port ant degree political and not commercial:
In view of the fact that general revision of
our revenue laws in the near future seems to
be probable IL would be better that any
changes should be part of thatrevision rather
than OF a temporary nature.
During the last is cal year the Secretary pur-
chased under the act of July H. 1890, "a 1855, 748
ounces OF silver, and issued in payment there
for S5l log 46S in notes. The total purchases
since the passage of the act have been 100 49,,
99l ounces and the aggregate notes issued Sll6,-
1880. The average price paid for silver during
the year was ~ cents per ounce, the highest
price being s1.0224, July l, 1891, and the lowest
80 cents March %, 1852. In view OF the fact
that the monetary conference Is row sitting
and that no conclusion has yet been reached, /
withhold any recommendation as to legislation
upon this subject.
The recommendations of the Secretary Of
War that the army be reOrganized. and that
the number of frontier posts be decreased and
troops concentrated at such points as possess
strategic advantages are Endorsed by the Pres
ident and the work of the Department of JUS
tice Is particularly commended
Court of Claims.
The aggregate Of claims pending against the
Government in the Court of Claims Is enor-
NOUS Claims to the amount of nearly s4OO
100000 for the taking OF or injury to the prop
erty OF persons claiming to be loyal during the
war are now before that court for examination.
dation claim and the French spolia-
tion claims, an aggregate Is reached
that is indeed startling. In the defense
OF these claims the Government Is at
a great disadvantage. The claimants have pre-
served their evidence, whereas the Govern
ment has to send agents to rumage the field for
what they can find. This difficulty is peculi-
arly great where't the fact to be established is
the disloyalty of the claimant during the war.
III this great threat against our revenues Is to
have no other check certainly Congress should
supply the partment or justice with appro-
priations sufficiently liberal TO secure the best
legal talent in the defense of these claims and
TO pursue its vague search for evidence effect
lively.
Building Up an American Marine.
Reference Is made to the report of the Post
master General, an abstract of which has
already been published The policy Of con-
tracing with American snips for the trans
portation OF foreign mails has borne
satisfactory results. Under the law
OF March 3, 1891, contracts have been
mai routes. The expenditure involved by
these contracts for the next fiscal year APP
proxInates 1914, 1888. AS one OF the results
already reached, sixteen American steamships
of an aggregate tonnage of 81 400 tons, costing
s7,4000Vo, have been built or contracted to be
built in American shipyards The esti-
mated tonnage of ali steamships re-
quired under existing contracts is 165, 002
and when the full service required by these
one mail steamers under the American flag,
with the probability of further necessary adj
ditions in the brazilian and Argentine service.
The contracts recently let for transatlantic
service will result in the construction of five
ships OF 10000 tons each, costing S9,CO00O0 or
S1O,OCO,OO0 and will add, with the City OF New
YORK and the City OF Paris, to which the Treas
ury Department was authorized by legislation
at the last session to give American registry,
seven of the swiftest vessels on the sea to our
naval reserve. The contracts made with the
lines sailing TO Central and South Ameri-
can ports have increased the FREE
quency and shortenea the time of
the trips, added new PORTS OF call
and sustained some lines that otherwise would
almost certainly have been withdrawn. The
service to Buenos Ayres Is the first TO the Ar
gentine republic under the Anne rican flag Tho
service to Southampt 1, Boulogne and Antwerp
is also new, and Is to be begun with the
steamships City of New York and City
OF Paris In February next. / earnestly urge q
continuance OF the policy inaugurated by this
legislation and that the appropriations re-,
quired TO meet the obligations OF the Govern
ment under the contracts may be made
promI.tiy, so that the lines that have entered
into these engagements may not be en-
barrassed.
America as n Naval Power.
After noting the increase In the American
navy during the past year the President d.
reefs attention TO the Improvement in naval
construction. 1t is believed. he says, that as
the result of new processes In the construction
of armor plate our later ships will be
1ln Nd wxfffh Anfs fun MIN ~ hffrhn ar