Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1892-12-22
RECEIPTS AND EXPENDITURES.
Annual Report Of the Secretary of the Treas
ury for the Past Year.

hscal year were S420, SOS, ,26O, and the
expenditures S415, ,953, ,s06, leaving a
surplus of 80, 81 4 ,953. With the cash
balance in national banks. the re-
demption fund and few small items
added the surplus was S4o,750, 46S,
which was applied to the payment OF
the public debt. Compared with the
fiscal year 1891 the receipts fell off
S32 ,675, ,972, the principal loss being
customs receipts, S42, 2,O69. PAL, and in
the profits on coinage, S5,6S1 ,419.
On the other hand there was gain OF
81, ,99S,690 in internal revenue re-
ceipts, 50, 2,412,744 in sales of District
OF Columbia bonds and other matters
which make up the difference. Inter
est on public debt decreased S14, 4,169,-
o19. For the present fiscal year the
revenues are estimated as follows:
From customs sos, 100000, internal
revenue S165,Oo0, 900, miscellaneous
100000, 900, postal service $50, $780,
$50, total S463, 1886, $50. The expen-
ditures are estimated as follows: Civil
establishment S1OS, 900, 900, military
establishment $40, 900, ,0OO, naval es-
tablishment S31, 100000, Indian SER
vice $4,000, 900, pensions S15S, ,o00,-
600, interest on public debt S26, ,0oO,-
600, POSTAL service $50, ,336, $50, total
S46l 1886, $50, leaving an estimated
surplus for the year OF S2,0oo,ooo.
The available cash balance in the
treasury at the end of the fiscal year
was S120, ,992, 1878. The revenues for
the fiscal year 1894 are estimated at
S49O, ,121 ,365, appropriations re-
quired at $457 ,261 ,335; exclusive of
the sinking fund or estimated surplus
S32S. .6OO,o3O, which, with the cash
balance above the gold reserve, would
make an available balance OF $53,
$50 ,4O7. Deducting accruing obliga-
tions there will be left S47, $50, 4O7.
Chargeable against this are unexpend-
ed river and harbor and ordinance ap-
preparations of S44, 900 600, and no
account is taken of the sinking fund or
OF requirements amounting to S4S,-
100000, beyond redemption estimat-
ed at S5,00o,O00. =
The secretary says the estimated re-
ceipts are on the basis of conditions
prevailing prior to the late election.
Public opinion having decreed a
change of policy in tariff laws, altered
conditions render it impossible to es-
innate the annual income with any
degree Of accuracy, and it is impossi-
BILE to predict the effect of proposed
radical charges on future revenues.
But then the inevitable result OF tariff
reduction agitation will be a falling off
in importations and revenues. He
says that facts fully justify the opin-
ion that the large increase in receipts
ascribed to the marvellous prosperity
OF the country under he present reve-
nue. system would, if continued, enable
the department during the coming
fiscal year to meet obligations without
impairment OF its cash, and thereafter
continue to show material improve
ment IN conditions.
| Mr.. Foster recommends the repeal
OF the act OF 1881, authorizing the ap-
! plication OF the surplus money to the
purchase OF United States bonds. In
view OF the large decrease in the ma
tional debt and the probable future
condition OF finances, the treasury has
difficulty with the limited amount OF
cash on hand above the 100000, 200
redemption fund to keep sufficient
stock of gold, and if shipments con.
tinue as large as during the past two
years the gold in the treasury will be
diminished below the reserve line. The
maintenance of silver at par has also
increased the possible charge upon the
gold reserve. The secretary, therefore
suggests that the redemption of gov
ernment obligations should be in
creased to at least 20 per cent OF the
amount OF the treasury notes ISSUED
, under the act OF July Ia, 1890.
In view OF the probable falling of il
receipts he thinks the revenue should
! be increased TO enable the treasury tc
maintain a gold reserve OF not les
/ than Sl25, 100000. He suggests al
additional tax on whisky as an cas-,
? method OF increasing the revenue.
: The secretary says that whateve
J may be the outcome of the interna
g tional monetary conference it will Civ
l clearer idea OF the views and the pur
/ poses OF the the represented
I In passing the secretary says a goo
: word for reciprocity. On the subJec
: of customs the secretary recommend
the abolition of fees and the establish
S ment of fixed salary for collector
\ and surveyors, the consolidation c
: customs districts, and the investmen
D OF the secretary with power to abolis
n districts, and discontinue minor ports
t the revision and modification OF Gus
t toms and navigation laws. He ais
e recommends the appointment OF
p commission for the purpose. He give
statistics OF American commerce an
= American ships and suggests the cor
" tinuance of the policy OF encouragin
: American ship building, against sut
7, sidized foreign ships, with the ultimat
e view OF their use as naval auxlllarle
'f The secretary recommends a change
n the manner of disbursing public mol
N eys and the settlement OF public a
Ie counts by putting the entire matter I
n control and audit under the directio
l. of the controller general or the chi
e, controller OF the treasury.
lie Speaking of immigration, the seer
tary is clearly OF the opinion that on
by rigid examination made at Il
place of departure was the prohibitl'
feature OF the law executed with al
degree OF efficiency. The remedy Il
L the evils OF immigration, the secretal
says, is within the control OF congres
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