The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1892-12-16

oonferonco a&embled ae\ bruSsAs on eoe
consider~t;od con i'd I 81 t tSis great question. Ihsvs
NOT doubted. Aad haze not taken occasion
TO express that basef. ay well I'm the |
invitations issusi FOR this cohfersnce
AZ in my public tmesssgeS that eae
international ratio Ypuld greatly promote
the interest Of our p$ple AMI equally those
or other nations Ids too early to prodics
wbat results may b3 accomplished by the
conference. any temporary Sneos @
commercial condition. Will compel the nov
reluctant Governmetts to unite with US IN
this movement to sectre the en'argemene OF
OF the volume OF coihei mouey needed foi
the transaction OF the business OF tho world
TIE TSEAsuRY.
The report of the Secretary OF the Treas.
ury will attract especial Interest 10 view OF
the many misleading st,te,n ants that have
been made as to the ssa.o os tas public rev.
enues. Three preliminary facts should not
only be stated, but euphasizei. b,tore look
debt has been reduced since March 4,
1889, sese,o7a, ,ssa an the annual
> interest essrss s.i.oSt 1, te9 ssScad test
tisn thsre H. haSI - 4 : IN iSs s s E s
November i, 1905 - e s5s. t7Ss "a 81 kkcsli
OF s11A 466. Ss00 over the sum <zncnded'
during the period from March ], 1885, to
March 1, 1880, and third, that under the ex.
600. 600 of revenue, wnich would have been
collected upon imported sugars IL the duty
had been maintained, has gone into the
pockets of the people and not into the pub
lie treasury, as before
surplus should have been kept out OF circu
lation by boarding it in the Treasury, OF
deposited in favored banks without interest
while the Government continued to pay to
these very banks interest upon the bonds
fal
who think that the extended pension leSis.
lation was a public robbery, or that the
duties upon sugar should have been main
tanned, am content to leave the argument
whether these criticisms will take the form
Of legislation. .
The revenues for the fiscal year ending
June 80, 1892, from all sources were S425,
s6s, o60. %, and the expenditures for all pur.
poses were S4l5, 953. .SO6.56. leaving a balance
the year upon the public debt $40 57O,..
467 9S. The surplus in the Treasury and
the bank redemption fund. osssSd sf hT fh9ast 9nS
nished in large part the cash available and
used for the payments made upon the pub
| lie debt. Compared with the year 1881, our
receipts from customs duties fell on $42,.
revenue increased $s. 2s4, ,s23 .1s, leaving the
net loss of revenue from these principal
sources sS3 7s4, ,4I7.9S. The net loss OF
revenue from all sources was $3s,615,S!aS1.
The revenues, estimated and actns'' Tor
the fiscal year ending June 80, 1899. ara
| placed by the Secretary at s46S, 3So Sou ~
and the expenditures at s4sl. ss6, $50 A.
showing a surplus OF receipts over expendi-
lures of Sc, 900, 600. Tine cash balance IN the
Treasury at the end OF the fiscal year 1t Is
estimated will be $40 292, BIT .03.
The estimated receiots for the fiscal year
ending June. 80, 1894, are S49o, III, 800 Ss,
and the estimated appropriations S49i ,Soi.
| acti faI
ceipts over expenditures OF S3s,SdO, O3aoo
This does not include any payment to the
sinking fund.
The public confidence in the purpose aud
ability of the Government to maintain the
purity of all our money issues, whether coin
or paper, must remain unshaken. The de-
inand for gold in Europe and the consequent
calls upon us are consideraoie dsSre'
the result of the efforts OF some OF the EURO,
pean Governments to increase their gold
reserve. and these efforts should be met oy
appropriate legislation on our part. Inc
conditions that have created this dram OF
the Treasury gold are in an )moorsant de-
gree political aud not commercial. In view
of the fact that a general revision OF our
revenue laws in the near future seem 70 DC
probable, it would be better that any changes
should be a part of that revision rather than
of a temporary nature.
SILVER BOUGHT AND COINED
During the last fiscal ysar the Secretary
| nnrc0aSeu
"a. 855. 74s ounces OF silver, and issued In
payment therefor S54. LOG. .S03 in notes The
total purchases since the passage OF the act
have been l20, 0,t79, 9S1 ounces, aud the ag
eregate of notes issue1 SIG 7S3, 500. Tho
average price paid for silver during the year
was 9t cents per ounce, the highest prics be-
ing 81. .O2% July /, 1891, AMI the lowest 50. S3
March Ell, 1892. In view Of the fact that the
monetary conference is now sitting and that
| no conclusion has yet been reach ID, With
4 bnll lnOlelotIGl
upon this subject.
ARMY REORGANIZATION DEMANDED.
The report OF the Secretary OF War
brings u Saiu 10 the attention OF Congress
some important suggestions as to the re.
organization of the infantry and artillery
arms OF tho service. which his predeces
sors have before urgently presented. Our
should all the more bs put upon the most
approved modern basis The condition
upon what we have called the "frontier
have hereto ore required the main
tenance of many small posts, but nov
the policy Of concentration Is obviously the
right one. The reorganization and enlars
| ment OF the Bureau OF Military Information
which the Secretary has effected is a wori
, the usefulness OF which will become every
wear more apparent. The work of building
, heavy guns and the construction Of coas
defenses has been well begun and should b.
carried on without check.
CLAIMS AGAINST THE GOVERNMENT.
The aggregate &C claims pending agai:..5
, | the Government in the Court of Claims Il
, enormous. Claims to the amount OF nearly
81 o. 900, coo for the taking of or injury tt
the property Cf persons claiming to be loyal
during the war ara now before that court FOL
| examination. When tt these are a1dsl tn,
, In liam deprel lation claims aud the French
spoiation claims an aggregate Is reacne
that is indeed startling. In the defense o
all these cases the Governmsnt is at great
disadvautage.sr claimants have preserved
, their evidence, whereas the agents Of tn
= Government are sent into the field to rum
, mage for what they can find. The difficult
a is peculiarly great where the fact to be estat
/. lished is the disloyalty OF tho claimant dur
/ ing the war. Ii this great threat agiins
, our revenues is to have no other chect Ger
tainly Con Sress shoul supply the Depart
: ment of Justice with appropriations suf
e ciently liberal to secure the best legal talen
q in the defense of these claims and to pursu
its vague search for evidence effectively.
POSTAL AFFAIRS.
y The postal revenues have iucreaS Il durin
70 70 the last year nearly 5000 900. The defic
y for the year en- linz June 80. 1892, is $S4s
- 81 less than the def ,isncy of tn, precedin
deSSsisGcy of tn, present fisc
ya". .inD.&x7el, will b, re1uced to 81.
I | 'b ~ Is eStim itg not onIy n, t;no,,tei,a