The Lamar register., 1892-12-10

sl14. 400 10000 over the sum expended dur
ing the period from March l, 1885, TO
March 1. 1880; and third, that under the
existing turin up to Dec. I. about $Js. .0OO,-
600 OF revenue. which would have been col
lected upon imported sugars II the duty had
been maintained, has gone into the pockets
of the people and not into the public treas
ury before II there are any who still
think that the surplus should have been
kept out of circulation by boarding 1t In
the treasury or deposting 1t in banks with
out Interest while the government continued
to pay the banks interest upon the bonds
deposited security for the deposits, or
who think that the extended pension legts-
lation was a public robbery. or that the
duties upon sugar should have been main
tanned. l am content to leave the argu-
ment where 1t now rests, while we walt to
see whether these criticisms will take the
form of legislation.
THE PUBLIC REVENUE.
| The revenues for the fiscal year ending
| June 30. 1892. from all sources were $40
s0s 2GO.22 and the expenditures for all
purposes were S4I5953. SO6. 81. leaving
balance of S9,914. .453 &c. There were paid
| during the year upon the public debt S40,-
$40. 467.9S The surplus In the treasury and
| the bank redemption fund, passed by the
act of July H. 1880, 10 the general fund.
| furnished In large part the cash available
| and used for the payments made upon the
public debt. Compared with the year 1891,
/ our recelpts from customs uutles Iell OH
/ s+2, 069. 2+l0s. while receipts from in
| ternal revenue Increased SS.2S4, s23 Ii, leay
| Ing the net loss OF revenue from these prin-
| cipal sources S33,Ts4. 1913. The net loss
OF revenue from all sources WAS s32,675,-
| o72 81.
The revenues estimated and actual for the
fiscal year ending June 80. 1893 are placed
by the secretary at s463. 1886, 1904. and the
| expenditures at s4Gl .336, ,35o.4+ showing
surplus of receipts over expenditures of 81
| 0O0. 600. The cash balance in the treasury at
the end OF the fiscal year. 1t is estimated.
| will be $50. .o92. 3I1 .O3.
So far these figures are based on esti-
| mates of receipts aud expenditures for the
| remaining months Of the current fiscal year
| there are not only the usual elements of
| uncertainty. but some added elements New
| revenue legislation. or even the expectation
| OF It, may seriously reduce the public rev.
enues during the period OF uncertainty and
| during the press of business attendant to
the new conditions when they become
| known. But the secretary has very wisely
4 refrained from guessing as to the effect OF
possible changes in our revenue laws, since
the scope OF those changes and the time
| Of taking effect not in any degree be
| forecast or foretold ~ him. His estimates
| must be based upon existing laws. and upon
a continuance OF existing business condi-
| tons except so far these conditions may
| be affected BY causes other than new legis'
labon.
THE SHINING FUND.
/ The estimated receipts Tor the fiscal year
endinz June 20. lS93. $3.50. 12l ,365.3S
| and the estimated appropriations S4J1.2 =
Il y3533 leaving an estimated surplus of re
reipts over the expenditures OF s32,SU
! i'O3o.o5 This does not include any payment
| 10 the sinking fdnd. In the recommendation
Of the secretary that the sinking fund law
n be repeated ! concur. The redemption q
II bond. since rre passage OF the law To Jun'
4 80 1877. has ALREADY exceeded the require
ments by thu sum Of SGo.5io,6slso I'M
. retirement Of bonds In the future Defor'
maturity should be . matter of convenience
not of cons 1uision. We SHOULD not coilec
revenu. for that purpose but only use an,
casual xiuLrus To the balance OF s32. $50,
. o4oo5 OF r-sseipts over expenditures for tn
year 1894. should he added the estimate'
| surplus AZ the beginning Of the year $40,
psr, 10 and from tins aggregate ther
| must be neducted. stated by the secrc
\ tarr. abnE $40. .OO0.OOO sf estimated uneS
pended appropriations
GOLD AND SILVER.
, Ts. puisIc confidence IN the purpose nm
ahiuy of the government to nieintain I'll
, ! parity OF nll our money issued wheths
| cssa paper. mrst rsnlain unshaken- III
| demand 1sr gold In Europe and the cons.
| onezt 'cihs upon IRE in considerabl
degree the result of rhe efforts Of some
| the European governments to increase the
| Ssls reserves. and these efforts should
rs1 byt1ppropria1AoDs upon our part II
| cynsiticus that have created this drain
| the treasury gold ur. an an important d.
: sre~ political aud not commercial. In vie
| Of the fact thar general revision of OF
y ! rsvsEfue laws in fne near future seems
| be protx BILE IL Srs1iid be better that IN
J ~iEanEeS should Il. part OF that rrvisio
I Es.Iser Uan OF s~FmpcTarg nature
rn1rtn- the last fiscal year the secretar
II The treasury purchased under the act
I1sJ IA 1870. 5s<s35. T4S ou-r~s Of silv'
ard fssH>d in payment II ereof SOL. lCrj, COS
rs5t-s'- The total purchases since the pas
| Az. -,r Zee act ksre been 120.473.asl ounce
I and the aggregate of rotes issued SIG
! .cS59o. The average price paid for 81
\ yer 6urtrg the ycfr was "a cents per ounc'
the hiGi.s IT price 1ting 81 G2s.. July l. 1Ss
| and the lowest So.S3. March II. lSsI2- !
yi-w of he fact that the monetary confer
/ eEae is low sitting and tlat no conclusio
las Is vet been reached, ] withhold any
accommodation IL the legislation upor
this ksllisct-
| - - -, ~-r or,,I,u,