Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-12-07


my public messages, that the frea coinage OF
silver upon an agreed international ratio would
greatly promote the interests OF our people and
equally those of other nRtlons. II Is too early 20
prciict what results may be accomplished by the
conference. II any temporary check or delay
iutorvcnes, believe that very soon commercial
conditions will compel tho onOw-reluctant govern
meDts 20 unite with US IN this movement % Sc
cure the enlargement Of the volume OF coined
money needed for the transaction Of the busi-
ness y! the world
NATIONAL FINANCES.
"The report Of the Secretary OF the Treasury
will attract interest In Wow Of the many mis-
leading statements that have been made as TO
the state o. the pubic revenues. Three pre-
liminafy facts should not only be stated but en-
phasizcd before looking into detallsi Fret, that
the public debt has been reduced since March
4, 1889, &252. .O74.2OO, and tho annual interest
charge sl1,GS4469, second, that there have
been paid out for pensions during this nd
min.stration up 20 November !, 1897, s432,-
564.lfS.t0-au excess OF Sli4,4bB,3o6.Ub over
tho cum expended during tho period from
March /, 1883, 70 March /, 1889: and,
third, under the existing tarir, up % December
lst about &93, 100000 OF revenue when would
have been collected upon imported sugars # the
duty had been maintained has gone into tho
pockets Oi the people and not Into the puptc trcAs
rury as before. If there arc any who stll think
inst the surplus should have been kept out OF
circulation by boarding 10 in the Treasury or de-
posted in favored banks without interest, while
the government continued To pay TO tnese very
banks interest upon he bonds deposited as Sc
curity for the dcposits, or who think that tho eG
tended pension legislation was public robbery,
or that the duties upon sugar should have been
maintained, / am content 20 leave the argument
where IL now rests, while We wait 20 gee whether
these criticisms Will take the form OF legislation.
REyKEUEs AID KXPESDITUREs,
"The revenues for the fiscal year ending June
30. 1892, from all sources were 5425,SGs,
26O22, and the expenditures for all purposes
we're S415,a53,b0G.5d, leaving a balance OF
SgNl4453.U6 There were paid during the
year upon the public dobt $40, $40, ,461.9S. The
surplus I'm the Treasury and the bond redemD-
ton fund, passed by the art OF July IA, 1890, TO
the general fund, furnished In large part tho
cash available and used for the payments made
upon the public debt. Compared with the year
1891. our receipts from customs duties fell oil
S42, 0Gg,y4l.06; while our receipts from inter
nal revenue increased SS.&S4,e23l3 leaving
The net loss Of revenue fiOm these principal
sources i3.5S4, Al 7.91. The net loss of revenue
from all sources was S"2,0 53,812,Al.
Tho revenue, estimated and actual for the
fiscal year ending June 30, 1893, are placed by
the Secretary az StO3,33G. .3JO4f, and tho cX-
penditures 40 r4Gl, 1865 ju.a4-shOwiug sur
plus of receipts over expenditures OF &2,OUU,UOO.
The cash balance IN ths Treasury at the end Of
tho Lscal year, it ie estimated, wll be S2O,992,-
31sO3. so far 0e these figures are based upon
estimates OF receipts ana expenditures for the
rem1iuiug months Of the current Ascal year
there arc not only the usual elements Of uu-
certainty, but some added elements. New
revenue legislation, or even the eA-
pectatln Uf 70, may seriously reduce
mo public revenues during the period OF
uncertainty, ana durnc the process OF business
adjustment % the new conditions when they be-
come known. But the Secretary has very wisely
TelrgiUcd from guessing a. 20 the enect ui posi-
be changes IN Clr revenue laws, since mo scope
oi those changes and the time OF their taking
effect cannot in any degree be forecast or fore
told by MN. IFS estimatC5 must DO based upon
existing laws AMI upon Continuance of exist
ing business conditions, except 80 far as these
coud itiOus may be affected by causes other than
new legislation. Ihe csuma ell receipts ior the
n@'al year ending Juue 30, 1894, are S4AO, l2l,-
HGJ.3S, and the estimated appropriations io"-
2UL33'.33. leaving an estimated surplus 0I re-
Ceipts over expenditures OF S32 ,SOO,O4O.OJ.
THE SINKING FUSD.
This does not include any payment TO the
sinking fund. ia the recommendation OF tht
Secretary That the siukiug-tund law be repealed
/ concur The redemption OF bonds since th5
passage Of the law 10 june 30, 1892, has already
exceeded the requirements by the sum oi S57U'-
5IO.GSl4g. The retl emeut Of bonds IN the iu-
turc before maturity should be matter OF con
yeulcucc. not of cOmpulslon. We should not
collect revenue for that purpose, but oniy use
q To The balance ts32. 500, ,03O.o5) Of receipts
over expenditures Tor he year 1894 should DO
aided the estimated surplus at the beginning OF
tho year-S2O gg2 ,31G03; and from tDls hggre-
gate there must be- deducted, as stated by tho
Secretary, about 844. 100000 Of estimated I'M
expended appropriations.
ability Of the government 90 MAINTAIN the parity
of all our money issues, whether CON or paper
must remain unshaKen.
DEMAND FOR GOLD.
"Tbedemopd fursold m Europe and the conse-
0ucut calls upon us are, in a considerable de-
grc- the result ~ the Efforts OF some OF the Eu-
roplau governments 10 increase their god re-
serves. and tneso efforts should be met by ap-
prcIrIHto legislation ON our part
" thc conditions that have created lhls dralh
OF tho Treasury gold are no an impOrtant degree
p,nuical and not commerCisL In view oil the
i.ct that general revision OI our revenue laws
ia the near future seems 10 DO probaDle' u
would Doe better that any changes should be
uart Of that revision rather than OF temporary
nature. ...
,,Duripg the last 1scal year the Secretary pur-
chased under the act OF July IA, leeo' o4,o'o'-
~4S ounces ot silver and issued IN payment
Therefor e1I,lOS.UOS IN notes. The tot6l puI-
cuase5 since the passage oi the act nave ueeu
Jy1.bgO.Sql ounces, aud the aggregate oi noles
issued, Sl1BTSJ,J9O. The average prlce paId
fo~ silyer during the year was 44 cents per
ounce, the highest price being 1l'O-e4, July Is
1891, ard the lowest So cents March ~ lo"-'
.Iu view OF the fact that the monetary confer
cnce is now sitting ana that 10 conclusion mas
Vet brea reached. / withhold any Tec0mmenda-
lion a. to legislation upon THIS sunect.
THE AEyY.
The report Of the Secretary Of War brings
amin L. tn, attention oil Congress some llupoI-
frut suggestions as 10 tNb ftotSdu.Alt4Vh VI th0
infantry aud artillery arms OF the service ~hlcn
nis ederessors have before urgently prescribed.
Our army Is small but lts ORGANIZATION snouiu
All the more be put upon the most approved
modern basis.
THE DEPARTMENT or JUSTICE.
"Tbe revort OF tho Aitorney-General is by law
submitted diTecIy TO Congress- bIt eanhot io-
frstn from saving that he has cunducted tue III
cr,s.lng work OF iho Department OF justice WIN
great uroles .Ona skill. lie mas IN seNeLe uhe o.
,4f.4 4Na.aia pi A. l1l-
creased protection to the officers Of the Uhliel
Stat.s and bringing some classes OF crime thaI
c,c4ucl local CogulzGnce and punishment mo
me .ribuuais Of ihe United states Whero lhey
could be tiicd with lmUarually. l..
81 have before expressed my concurrence ~
the recommendation Of the Attorncy-Ecnefal
that degree. OF murder should De reGogulz'eu III III
the Federal statutes ~ they arc oeioNo' IA az
mo S.ate. Theqo grades are founded on correct
,isf,p.tiCus In crime. The recognition OF lbVHi
would enable the courts 70 exercise nOIhe us
cretiou in AppOrtioniug punishment anu "Oulo
sr.stiy relieve the Executive OF What ~ coming
r. he n very honyy burden-the examination OF
these cases on application for commuIauoh'
CLAIMS AGAINST TIE GOVERNMENT
.,The arnegate Of claims pending against the
,o,srument iu the Court OF Claims Is enormous
Claims 10 the amount Of nearly S+'uuO,VVo Ioi
the taking Of or injury 70 me P'CptaS ~, "a
s0us claiming TO be loyal during the war arc
now before that court for cxamtnaJOh. Nheu W
these are added the lndian-depreuaten clt,iii9 a.
oet rho FfenCh-spOllatiOn ClAlinb an dssi -
rceched that ~ Indeed startling. In me defence
~ AN these cases tho government U AZ Bloht
oisadyautage. The claimants have presorSeu
,teir evidence, whereas the attorneys OF lho
env"rpuent are sout into the field TO Tummage
~ What they can find. This dllicuiiy Is pax
ti.ularty great where the fact 10 De eslh oilsnod
4. me tisloyalty OF the claimant during lne "ai.
If this great threat atnst our revenues - "a
have no other check, certainly OonsISne ~ ~sHou,N
supply tho Department ot justice WIN aPPlO..
trietiops su uncieutiy liberal 10 secure the Dest
icgai talent in the defence Of these claims ana 70
uursue the vague search for evidence euecN'eiy'
POsT-OFFICE DEPARTNKSl.
.. gY,a ye,ort Of the Postmaster-General shoTs
. most gratifying increase ami most oncleht
snd progressiye management OF the great pus-
rs. of that department The remaFkapie ln-
.reose Of revenues Ia the number OF pVSt-
o,,icss and In the miles OF mail carriage lur-
njsbes further evidence OF the high state oi p.VS
uerity which or people are enjoying
OCEAN MAIL SUBSIDIES
.,Eyer since our merchant marine was arNeu
from inc ses BY the rebel cruisers during tne war
~ tbe rebellion the United States has oeeh pay
To-. an enormous annual tribute 10 iorcgh Coun-
lbs in the shape OF freight ana passage
,,oneya Our grams and neats nave teon
,aEen AZ our own ports and our lhfRe lth-
,'orts there laid down by foreign shlpnhas-
- An increasing torrent oil Ainetlcan
trsyd 10 Europe has contributed Nhsl
80, .nnuallv 10 tho dividends OF 1oielsh
49, 80, srnars The export trade, as SHOWN oy
tne books OF the custom-house, has peeh @ ISIy