The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1893-12-08
rHr SUGAR pouxrr.
The sum paid from the treasury for sugar
bounty was S9 375, ,130leB, an increase over the
Preceding wear Of A. 033 Qha0q

preceding year OF q, ,055 06S-09-
An ESTIMATED DEFICIENCY.
II is estimated upon the basis of present
revenue laws that the receipts OF the govern
msnt for the yeat snding June 80 1891, will be
$3.50 i2i 3G55s and fits expenditures SASS. l21,
365-3s, resulting i'm a deficiency of 81, 100000.
TIE CIRCULATING MEDIUM.
On the Ist day OF November, 1893. the amount
OF money OF all kinds in circulation, or not in
cluded in treasury holdings was l,71s544, ,6ss
an increase for the year OF SIZE. 2.404.9T. Es-
timating our population at 6T,42e00o at the
e25.4p. On the same date there was in the
treasury gold bullion Amounting to 800. .e57 273.
and silver bullion which was purchased at
cost of s12e. .26I .553.
THE PURCHASES OF SILVER
The purchases OF silver under the law OF July
II. le9). during the last fiscal year aggregated
"a 0O6. 250 fine ounces, which cost &45
The total amount OF silver purchased from the
time that the law became operative until the
repeal Of the purchasing S clause M . on q the rst day
which cost ff55.930 ,p40.s4. Between the first
day OF March. 1873. and the first day or Novem-
Der, 1888. the government purchased, under all
laws. 5OSO0s.717 fine ounces of silver at a cost
OF s516, ,622, 94e The silver dollars that have
been coined under the act OF July IA, 1899, num-
such coinage was s6.97S O9o. SO, leaving on hand
in the mints 140 69o 100 fine ounces Of silver
which cost sl2o, ,7sS,2is.
TIE COINAGE.
Our total coinage Of all metals during the
last fiscal year consisted OF 9o7 2Sc, ,S75 pieces,
valued at S4S, ,6s5 Us 90 Of which there was s9O-
a. PIT ,220 90 in subsidiary silver coin, aud 81
0e6, JOB 20 in minor coins.
PRODUCTION OF PRECIOUS METALS.
During the calendar year 1892 the production
Of precious metals in the United States was
estimated TO be 1.596,375 fine ounces OF gold OF
the commercial and coinage value of $50. .O01. .000
lion or market value of $50 75O, 600 and Of the
coinage value of $74 .9e9, 900
TIE STOCK OF METALLIC MONEY.
II is estimated that on the first day of July
1893 the metallic stock of money in the United
States, consisting of coin and bullion, amount
ed TO 81 2IS, $50, ,10p of which 8597 697 685 was
gold and S6l5 S6l ,4S4 was silver.
NATIONAL hanks.
One hundred and nineteen national banks
81 lso3 with capital OF S1i go 600, 46 went
into voluntary liquidation and 15S suspended.
Sixty-five OF the suspended banks were insol
vent, eighty-six resumed business, and seven
remain in the hands Of bank examiners, with
prospects Of speedy resumption.
OF the new banks organized forty-four were
located in the eastern states forty-one west of
the Mississippi river and thirty -four in the
central and southern states The total number
OF national banks in existence on the 3lst day
OF October, 1893, was 3,796, having an aggregate
capital OF sos, ,558. 12o The net increase in the
circulation OF these banks during the year was
$3o, ,SS6972.
SILVER PURCHASE REPEAL.
The recent repeal of the provision of law re-
Quiring the purchase of silver bullion by the
government as feature OF our monetary
scheme has made an entire change in the com
plexion of our currency affairs do not doubt
that the ultimate result of this action will be
most satutary and far reaching.
In the nature of things, however, il is i'm
possible to know at this time precisely what
conditions will be brought abo1t by the change.
or what III any, supplementary legislation
may. in the light of such conditions, appear to
be essential or expedient. OF course, after the
recent financial perturbation, time is neces-
sary for the re-establshment of business conf
dence. When however. through this restored
confidence. the money which has been fright
ened into boarding places Is returned to
situation will probably disclose
safe path leading to permanently sound cur
rency abundantly sufficient to meet every re-
quirement of our increasing population and
business. In the pursuit of this object we
temporary expedients determined to be con-
tent with nothing less than lasting and COM
prehensive financial plan. In these circum-
stances, am convinced that reasonable de-
lay in dealing with this subject, instead of be-
ing injurious will increase the probability of
wise action.
ISSUING BONDS
The authority now vested in the secretary of
the treasury to issue bonds is not clear as il
vantageous TO the government, both as to the
time OF their maturity and rate of interest.
IMMIGRATION.
The superintendent of immigration through
the secretary of the treasury reports that dur
ing the last fiscal year there arrived at our
ports 440.793 immigrants. OF these 1903 were
not permitted to land, and under the limIta-
tions of the law. 577 were returned to the
countries from which they came, - by reason of
their having become public charges. The to-
tai arrivals were 144, ,O34 less than for the pre-
vious year.
NATIONAL QUARANTINE.
The secretary. in his report, gives an account
OF the operation of the marine-hospital service,
and of the good work done under its super
vision in preventing the entrance and spread
OF contaglous diseases The admonitions Of
and the demonstrated danger of the introduce
tion OF contagious diseases from foreign ports
has invested the subject OF national quarantine
with increased interest
The War Department.
The secretary OF war reports that the
tember last was 25.778 enlisted men and 2 IA
officers, the total expenditures of the depart
Inent for the year ending June 81, 1893 amount
for salaries and contingent eXnenses, s23. ST.
S2S35 for the support of the military establish
ments, S6.077 0sS. ls for miscellaneous objects
and S20,5lS. .63l. Al for public works The latter
sum includss sl5. .396 S76.46 for river and harhor
improvements and s3,266, l4l.20 for fortihca-
tions and other works of defense.
PROPOSED CHANGES.
The adoption of battalion formations for In
fantry regiments, the strengthening of the
artillery force, the abandonment of smaller
and unnecessary posts, and the massing of the
troops at important and accessible stations all
promise to promote the usefulness of the
army. In the judgment of army officers, with
but few exceptions the operation of the law
forbiddfng the re-enlistment OF men after ten
years OF service has not proved its wisdom.
and while the arguments that led to its adop-
tion were not without merit, the experience of
the year constrains me to join in the recon-
mendation for its repeal.
THE MILITIA.
The total enrolment of the militia of the
several states was on the 31St Of October of
the current year ll2,597 officers and enlisted
men. The officers of the army detailed for the
inspection and instruction Of this reserve Of
our military force, report that increased inter
est and marked progress are apparent in the
discipline and efficiency of the Organization
QUIET YEAR.
Neither Indian outbreaks nor domestic vio
Tlsm<1e
the year. and the only active military duty re-
quired of it has been in the department of
Texas, where violations of the neutrality laws
of the United and Mexico were promptly and
efnciently dealt with by the troops, eIiciting
the warm approval of the civil and military
authorities Of both countries.
SEA COAST DEFENsE.
Il IS gratifying to note that we have begun to
attain completed results in the comprehensive
scheme OF ses-coast defen sc and fortification.
entered upon eight years ago. A large sum
has been already expended, but the cost of
maintenance will be inconsiderable as COM
pared with the expense OF construction and or
dinance. At the end OF the current calendar
year the war department viii have nine Pinch
guns, twenty l0inch and thirty-four S-inch
riRges, and seventy-five 12-inch mortars In ad-
dition to the product of the army gun factory
now completed at Watervliet, the government
has contracted with private parties for he
purchase OF 100 guns of these calibers, the first
OF which should be delivered TO the department t
for test before July 1. 1894. The manufacture
of heavy ordnance keeps pace with current
needs, but to render these guns available for
the purpose they are designed 10 meet en-
placements must be prepared for them Prog
desirable that congress by adequate appro-
priations should provide for the uninterrupted
prosecution OF this necessary work.
MODERN SMALL ARMS.
After much preliminary work and examina-
tion. IN accordance with the requirements OF
zine rifie OF modern tyoe With which to reDIace
the obsolete Springfield rife OF the infantry