Evening journal., 1892-12-07
STATE OF THE GOLFERS
The Secretary Of the Treasury
Submits His Annual Report.
SURPLUS RECEIPTS OF 100000.
The Estimated Revenues Exceed Esti-
mated Expenditures-A Cash Balance
of s1eO, ,ooe, 1877 .Os Next June-Conject-
ured Debit and Credit Lists for 1894
The Present Policy Commended.

of S12O, O,092,377. .O3 Next June-Conject-
ured Debit and Credit Lists for 1894.
The Present Policy Commended.
WASHINGTON, Dec. 7.-Secretary
Foster, of the treasury department, in
his annual report as to the financial oper
alton of the government estimates the
revenue for the present fiscal year ending
June 30, 1898, as follows:
From customs, $l9S, OOO, 900; from in
ternal revenue, $165, 100000; from mis-
cellaneous sources $2O,OOO,O 600; from
postal service, $50 1886, ,3iO.44 Total es-
timated revenues, $463, 1886, 1904.
The expenditures for the same period
are estimated as follows For the civil
establishment s l0S, 900, 900; for the mill
tary establishment, $4g, 000, 600; for the
naval establishment; $31 ,000, 600; for
the Indian service, 50, 600, 900; for PEN
sions. S15S, 600 600; for interest on the
public debt 500 600, 600; for postal ser
vice. $50 1886, $50 A Total estimated
expenditures, Si6l, 1886, 35O44 Leaving
an estimated surplus Tor the year of 81
O0O0
The following is submitted as the
probable condition of the treasury
at the close of the present fiscal year,
June 80, 1898:
Cash in the treasury July 1, 1892, in
GLIDING gold reserve, 1926, 692, 37703
surplus for year, as above 81, 600, 900; de
posits during the year for redemption of
national bank notes, 50, 500. 600. Total
amount available, $132 1872, 37703. Less
redemption of national bank notes during
the year 50, 800 000 Redemption of
bonds, interest notes, and fractional cur
rency during the year $1,000 Total,
$40 300 600.
Cash balance available June 9O 1898.
$780, 992, ,37zO3
Estimates for 1894.
1t is estimated that the revenues of the
government for the fiscal year 1894 will
amount to $3.50, 12l, ,365.3S.
The estimates of appropriations for the
same period, as submitted by the several
executive departments and Offices amount
to $457, ,26l ,335. 33. leaving an estimated
surplus of $32 S60 O30 05. To which is
added cash balance above gold reserve,
June 30 1898, $40, 992, ,377.U3. Making
an estimated available balance of 1852,
4O7. OS. from which is deducted accrued
and accruing obligations. estimated at
$4,000 600 leaving $47, S52. .407OS. No ac-
count is made in the foregoing of the re-
quirements of the sinking fund
for 1894, amounting to $4S
600, 600 beyond the redemption of pas,
due bonds, fractional currency, and
national bank notes estimated at $4,000,
coo. The estimated receipts are based
upon conditions prevailing prior to the
late election.
"A careful review of all the facts,
says the secretary, "fully justifes the
opinion that the large increase of re
ceipts ascribed to the marvellous pros
perity of the country under the present
revenue system, would if continued
enable the department during the com
ing fiscal year to meet all obligations
without the slightest impairment of it,
cash, and thereafter continue to show
material improvement in its condition.
Secretary Foster recommends the
unconditional repeal of the sinking funC
laws as sit is hardly probable that more
than about 81 900, 600 can be credited
to the fund during the present fisca
year as against a legal Requirement
exceeding $4S, O00 600 and further appli
cations to the fund during succeeding
years must necessarily be limited to sucl
small sums as may from time to time b
paid for past due bonds, fractional cur
rency, and national bank notes redeemed
uQQel lu6 dCU OF July IL -oVV.
An Inadequate Gold Reserve.
One of the embarrassments TO tn
treasury in the opinion of the secretar
is the inability, with the limited amour
of cash on hand above the 500, 900, 90
reserve, to keep up a sufficient gol
supply.
''When the demand comes for the e1
portation of gold, says he, "the trea
ury is called upon TO furnish it. If th
demand should prove to be as large
the coming year as it has been for tl
past two years, gold in the treasuI
would be diminished to or below IL
reserve line.
''rhe status of this reserve and il
amount, have recently been subjects
discussion. In the bank act of 1876
Congress gave expression to its beli
that 500, 900, 600 in gold was suitab
reserve; by providing that whenever Il
amount of gold in the treasury shou
fall below that sum the issue of go
certificates should cease.
But if 800, 600, 600 in gold was sui
able or necessary reserve in 1882,
would seem clear that a greater reser
is Necessary now 1t should be remei
bered that since 1882 we have added to o
silver circulation the sum of $259,OlI
1872 We have also increased the leg
tender paper circulation by issuing abo
$780, COO, 900 of treasury notes, and
this we are adding about $4 600, 600 ca
month in payment of silver bullion pu
chased.
'1n view therefore of these increas
and increasing liabilities, the reserve
the treasury for the redemption of t
government obligations, should, in !
opinion, be increased to the extent of
least 90 per cent of the amount of tre
ury notes issued and to be issued un'
the act of July IA. 1890.
A Remarkable Woman Celebrates.
ST. PAUL Mimi, Dec Mrs. Sal
McNeil of Inkster. n D. Yesterday