The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1892-12-15
TREASURY STATEMENT.
RECEIPTS FELL OFF THIRTY-Tw0
MILLIONS LAST YEAR.
Total Collections for the Year We're $425,
,260 Expenditures $4l5,95s ,S06.
Main Depreciation Was In Customs
and Profits on Coinage.

and Profits on Coinage.
WASHINGTON, Dec. THE annual
report of the secretary Of the treasury
shows that the government revenues
from all sources during the past fiscal
year was $425 1865, 260, total expendi.
lures $4l5, 1858, 1906, leaving a surplus of
So, 915, 443. With the cash balance,
the National bank redemption fund
and few small items added, the sur
plus was $40, $50, 468, which was ap-
piled to the payment of the public
debt and National bank notes. Com.
pared with the fiscal year of 1891, the
receipts for 1892 have fallen off $32,-
675 952, the principal loss being GUS
tom house receipts, $42, o69, 241 and in
the profits of coinage $5,6S1, 479. On
the other hand there was gain in in
ternal revenue receipts of $4,19S, $50
and in sales of District of Columbia
bonds of $2,412,744. For the present
year the estimated revenues are $463,-
1886, $50 "A. Estimated expenditures
$461 1886, 1904. These estimates, says
the secretary, are based upon condi-
tions prevailing prior to the late cleo
ton.
Touching the gold reserve, the re-
port says the treasury has difficulty
with the limited amount of cash on
hand above the $100,0O0,000 redemp-
ton fund, to keep sufficient stock Of
gold. If shipments continue as large
as they have been doing the past two
years the gold in the treasury will be
diminished. below the reserve line.
Maintenance at silver at par has also
increased the possible charge upon
the gold reserve, and therefore the
secretary suggests that reserve for re-
demption of government obligations
should be increased to the extent of at
least 20 per cent. of the amount Of
treasury notes Issued under act of July
IA, 1890.
The secretary said: AS will be seen
by estimates submitted the receipts OF
the current and next fiscal year are
not likely, If present conditions con.
tinue, to fall below expenditures. Yet
in view of the fact that the
surplus for this year will be
small, upon the basis stated,
with the probability of falling off In
receipts, think the revenues should
be 30 increased as to enable the treas
ury department to maintain gold
reserve of not les than $125, 100000 to
maintain comfortable working bal
ance in the treasury of cash. AS q
general revision of our custom laws is
not probable, 1 do not feel like sug.
costing any special methods for in
creasing the revenue, though should
otherwise think an additional tax on
whisky, which could be collected
without additional cost, would fur
nish an easy method.
In regard to the Monetary Confer
ence he says: "This conference is now
in session. AS yet little is known az
to what its action may be beyond the
general fact that the subject of a bet
ter use of silver as o money metal is
receiving its earnest attention What
ever may come of the conference 1t is
safe to predict that clearer idea will
be had of the views and purposes of
| the countries represented"
He gives statistics to show the sue
cess OF reciprocal treaties now in OPP
Grafton, and says the result of reci-
procity will be enlarged markets for
our agricult, raj and manufacturing
products and increased employment
Tor our ships. OF the imports and ex-
ports OF the United States during the
! fiscal years from 1857 to 1892, he says:
"These figures exhibit q lamentable
condition of affairs. 1t would seem
we were well hemmed In by subsidiz-
ed steamship companies and subsidiZ-
ed railroads of the British government
monopolizing the trade legitimatly
belonging to our own people. A step
toward such prevention by provi-
sion in our statutes for payments to
American owned vessels of certain
classes in foreign trade has be sug.
eested."
On the subject of public buildings
the secretary says the expenditures
during the year ending Sept. 30, last,
were So, 74l 1856, and outstanding con-
tract liabilities 1884 400, making a
total OF 1855 800.
On the subject of Chinese exclusion
the secretary says that notwithstand-
ing the severity of laws relating
thereto, many Chinese persons find a
way into our territory chleny by way
of Canada. Provision Is made for adj
mission of Chinese exhibitors and en-
ployes of exhibitors at the Worlds
Fair and it is probable, the secretary
says, that large number OF Chinese
laborers will enter the United States
by this authority. The secretary says
that at the close of the fiscal year no
applications for certificates had been
made by resident Chinese laborers and
there seems to be determination on
the part Of the Chinese not to register.
The secretary renews his recon-
mendation of last report that congress
enact Legislation to make obligatory
the use of the metric system OF
weights and measures in all transac-
tions at the United States custom
houses.
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