Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1892-12-10

0 | mr Nrended pension legislation was a pubIi,
| V-ptFf or that the duties upon sugar SHOULD
~ been maintained | am content TO leav,
ne argument where 1t now rests. while ",
| walt 10 see whether these Criticisms Will takt
| tie form Of lie aslatiOn.
E | The revenues Tor the fiscal wear ending Jun,
~ lsJ1 from eli sources were s425 SOS $50. % ans
: | ne expenditures for all purposes were sH5.
| t33,alb.ot+ leaving balance OF S1gi4 ass. SO
| There was paid during the year upon the pub
| nc debt eipa4u. i67.gs. The surplus in the
treasury and bank redemption fund passed BIZ
ghe act OF July H. 1890. TO the general fund
Iurri shed in large part the cash available and
usea TOT the payments made upon the public
J debt Compared with the Va or 1891 our receipts
from customs duties fell of 81 .069 241. 0s
WINE our receipts from internal revenue in
creased from s. PSI 13 leaving the net loss Of
revenue from these principal sources S}5 7s4
ll.H3. The net loss Pf revenue from all
simated and actual for the fiscal year ending
June 30, lr,j, placed by the Secretary al
49,. $50 a and the expenditures at #lGl 1856
o7u44 showing surplus Of receipts over ex-
pendltures OF 600. The cash balance in the
treasury a. the end OF the fiscal year it is esti-
mated viii be 500, a92 377.uf
SO far as these figures are based upon esti-
mates of receipts and expenditure for the re-
naming months OF the current fiscal year.
there are not only the usual elements of unoer-
talnty hut some added elements. New reve-
nue. legislation, or even the eNuectation of IL
may seriously reduce the public revenues
during the period OF uncertainty and
during tie process of business adjust
ment to th new conditions when they become
known. Bnt the Secretary has very wisely
renamed from guessing as to the effect of
possible changes in our revenue laws since
the scope OF those changes and the time OF
Ihef taxing effect can NOT ia any degree be
forecast or Ioretold by him. His estimates
must be based upon existing laws and upon
continuance OF existing business cOndi-
tions. except so far these conditions may
pc dHected by causes other than new legisla-
ton
Ihe estimated receipts for the fiscal year
ending June, 80, 1894 are s4aDI2l eG5.8s. and The
estimated appropriations i457, 26I 49, leaving
an estimated surplus of receipts over the ex-
penultuFes OF S52,7bb u3O.u5 This does not in
cludc any payment to the sinking fund In
the recommendation of the Secretary that
the sinking fund law be repealed [ copcur
Inc redemption of bonds since the passage
OF the law to June 80 1892 has already
exceeded the requirements by the
sum Of sl9p5l0,6s1.Ag. The retirement Of
ponds IN the future before maturity should
be matter of convenience, not of cOmpulsion
We should not collect revenue for that purpose
put only use any casual surplus To the bal
ance OF 50 s6o,@4o5 of receipts over expendi-
estimated surplus at the beginning of the
year, s2l,Hl237l.03, and from this aggregate
there must be deducted as stated by the Seo-
rotary, about S44,O00000 of estimated unex-
pended appropriations.
silver Purchases.
The public confidence in the purpose and
ability Of the Government to maintain tha
parity of all our money issues whether coin
or paper, must remain mistaken. The demand
for gold IN Europe and the consequent
calls upon us are in considerable
degree the result of the efforts of some
OF the European governments TO increase
their gold reserves, and these efforts
should be met by appropriate legislation upon
our part. The conditions that have created
this drain of the treasury gold are in an i'm
portant degree political and not commercial /
In view OF the fact that general revision Of
our revenue laws in the near future seems to
be probable, 10 would be better that any
changes should be part of that revision rather
than OF temporary nature
During the last fiscal year the Secretary pur-
chased under the act of July a. 1890 81 355 7t9
ounces Of silver, and issued In payment there
for >oI ipt4bS IN notes, The total purchases
since the passage of the act have been lZu4j9,-
WI ounce y and the aggregate notes issued Sll6,-
7s359o. The average price paid for silver during
the year was hi cents per ounce, the highest
price being sl.028, July ], 1891, and the lowest
s3 cents March - 1872. In view OF the fact
Jnat the monetary conference is now sitting
and that no conclusion has yet been reached [
withhold any recommendation as to legislation
upon this subject
The recommendations of the Secretary of
war that the army be recognized, and that
the number OF frontier posts he decreased and
troops concentrated at such points as possess
sIIateslc aayahta2ea 4te ludorsed by the Pres
ldent, and the work of the Department OF JUS
tIce Is particularly commended.
Court of Chains.
Tie aggregate Of claims pending against the
Government in the Court OF claims is euor-
nous. Claims he amount of nearly s4Oo,-
erty Of persons claiming to be loyal during the
war are now before that court for examination
When the others are added, the Indian depre-
datlUn claim and the French suolia-
tion claims, an aggregate is reached
that lis indeed startling. In the defense
of these claims the Government is Ak
great disadvantage. The claimants have pre-
served their evidence, whereas the Govern
ment has 10 send agents to rumage the field for
what they can md This dithculty Is peculi-
arly great where the fact to be established is
the atsloyalty of the claimant during the war
II IuIs great threat against our revenues is to
have no other check certainly Congress suouId
prtatous sufficiently liberal to secure the hest
legal talent in the defense OF these claims and
iyoIly. '''' ''s vague 9s''o" '0F evidence en'''-
Building Up an American Marine. u
Reference IS made 10 report Of the POST
master General an abstract of which has
already been published. The policy Of con-
tracing with American sHp4 for the trans
portatlou of foreign mails has borne
satisfactory results. Under the law /
made by the Postmaster General for eleven /
mail routes. The expenditure involved by
these contracts for the next fiscal year ap-
proNimates SJ54 1888. As one of the results
already reached sixteen American steamships
OF an aggregate tonnage of 55,410 tons, costing
S74gooU1 have been built or contracted to be
built IN American shipyards The esui- !
mated tonnage Of ali steamships re-
qulred under existing contracts il tbs 800 /
and when the full service required by these
one mail steamer, under the American flag
with the probability Of further necessary adj {
dltluns IN the Brazilian and Argentine service =
The contracts recently let for transatlantic !
service VIII result IN the construction of five .
ships of lteuU touS each. costing sqHau.Ou0 or
sl0,ou0 900, and will add, With the City Of New !
York and the City Cf Paris, to which the Treas
ury Department. was authorized by legislation +
at the last session to give American registry D
seven OF the swtttest vessels on the sea to our 1
naval reserve. The contracts made with the 1
lines sailing TO Central and South Ameri- L
can ports have increased the fre- 4
luency and shortened the time of o
the trips added new ports of call Il
and sustained some lines that otherwise would 7
almost certainly have been withdrawn The .
service 20 Eugnus Ayres lis the first 10 the Ar I
geutiuc reunbliC under the American nag The
service GO southampton Routogne and Antwerp i
Is also new and tS ta be begun with the
city uf New York aud City
lf Paris in February next, / earnestly urge a J,
continuance ot the policy iuauguTated by his 4
legislation. and That the appropriations re- 4
CURED to insect tile obligations of the Govern Z,
mont uHter the contracts may be made 4
promptly That the lines that have entered !
INTO these engagements may not he em-
Il
america a. "a Naval Power.