The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1893-12-07


027, 623 90. Our dutiable imports
to $491. $780, an increase
of $52 453, ,907 over the preceding year,
and importations free of duty amount
ing to $444, 5A, ,2l1, decrease from the
preceding year of $13,545,447 Inter
nal revenue receipts exceeded those of
the preceding year by So, ,74l, ,443,3s.
The total tax collected on distilled
spirits was $3.50, ,47s 0s6.05, on manufact-
ured tobacco $31, $50, ,7l1.74 and on fer
mented liquors $32. 54S 993.01. We ex.
ported merchandise during the year
amounting to $S47 7665, 194 decrease OF
$lS2, ,6l2,954 from the proceeding year.
The amount of gold exported was lar
ger than any previous year in the his
tory of the government, amounting to
$10S, $50, S44 and exceeding the amount
exported during the preceding year
by $5S, ,4S5,517 The sum paid from the
treasury for bounty was $9,375, 140 SS
an increase over the proceeding year of
81, 033 053. 1t is estimated upon the
basis OF the presert revenue laws that
the receipts of the government of the
year ending June 80, 1894, will be
$43O. l2l.36538 and its expenditures
$45S, 121 ,3653S resulting in a
deficiency of $2S.OOOOOO. On
the first day of November
1893 the amount of money of all kinds
in circulation not included in treas
ury holdings, was $1,7lS,5 4,6S2, an
increase for the year of $1l2 404, ,947.
Estimating our population at 67,426,.
600 at the time mentioned the per cap
ita circulation was $25 40 On the
O N m date fhnpa In, D..
gold bullion amounting to 500, ,657, 1913,
and silver bullion which was pnr-
chased at cost of $lS6 261, ,553. The
purchases of silver under the law of
July IA, 1890, during the last fiscal
year aggregated 54 600, l69 80 fine
ounces, which cost $45 ,53l ,37453 The
total amount of silver purchased from
the time the law became opera
tive until the repeal OF its
purchasing clause on the first
day of November, 1893. was 16S,674
$50 do fine ounces, which cost $3.50, 930,-
$40 "a. Between the first day of
March. 1873, and the first day OF No
vember, 1893, the government pur-
chased, under all laws, 504 O03,717 fine
ounces of silver at cost OF S510, 622,.
948. The silver dollars that have beeu
coined under the act of July IA, 1890,
number 80 087, 1856. The seignorage ar.
rising from such coinage was SO, Off,
OBS 30, leaving on hand in the mints
l4O,69O fine ounces of silver, which
cost $126, ,758,21S. Our total coinage of
all metals during the last fiscal year
consisted OF 097, ,280S75 pieces, valued
$43, 185, 80, of which there was $780,
OBS, 14O in gold coin, So 343, ,715 in silver
dollars, $72l7, 220.90 in subsidiary
silver coin and $l,086. 103 90 in minor
coins. During the calendar year 1902,
the production of precious metals In
the United States was estimated to be
1858 fine ounces of gold of the com.
mercial and coinage value OF $3,000,.
900, and $4,000, 900 fine ounces of silver
of the bullion or u Arket value of $780,
zoo, 900 and OF the coinage value Of $74,.
9S9, 900.
1t is estimated that on the first day
of July, 1893. the metallic stock If
money in the United States consisting
of coin and bullion amounted TO 81,
21S, 1863, l89, of which $597, ,696, 1856 was
gold, and 1915, 1861, ,484 was silver. One
hundred and nineteen National banks
we're organized during the year ending
October 81, 1893, with capitol
OF $1l 100000; 48 went into voluntary
and 1853 suspended. Sixty.
five OF the suspended banks we're in-
solvent, SO resumed business and 7
remain In the hands OF the bank ex-
with prospects OF speedy re-
sumption. or the new banks organ
lied "A were located in the Eastern
states. Al west OF the Mississippi river
and 30 In the Central and Southern
states. The total number Of national
banks in existence on Oct. 81, 1893,
was 1896. having an aggregate capital
of $685., ,558, 1870 The net Increase In
the circulation of these banks during
the year was 1886. 1886, ,972.
SILVER LEGISLATION.
The recent repeal of the provision OF
law requiring the purchase OF silver
bullion by the government as feat
ure of our monetary scheme has made
an entire change in the complexion OF
our currency affairs. l do not doubt
that the ultimate result OF this action
will be most salutary and far reach
ing. In the nature OF things
however it Is impossible to know at
this time precisely what conditions
will pe brought about by the change,
or what. IL any. supplementary legis
lation may In the light OF such condi-
tions appear to be essential or expe-
dent. or course after the recent
perturbation time Is neces-
sary for the re-establishment Of busi--
ness confidence, when however through
this restored confidence the money
which has been frightened into hoard
ing places is returned to trade and en-
terprise, survey of the situation will
probably disclose the safe path lead
ing to permanently sound currency
sufficient to meet every
requirement of our increasing popu.
lation and business. In the pursuit
Of this object we should
resolutely turn away from alluring
temporary expedients determined to
be content with nothing less than a
lasting and accomplished financial
plan. In these circumstances / am
that a reasonable delay In
1ealing with the subject instead OF be-
nR injurious will increase the proba-
oility of wise action. The monetary
conference which assembled at Brus.
Iels upon our invitation was adjourned
% the Both day OF November in the