The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1893-09-22
THE TREASURY.

Receipts Increasing and q Better Condi-
tion Reported-Senator Faulkner Ex-
plains His Amendment to the Repeal
Bill
WARRINGTON, Sept. 16.-Government
receipts from all sources continue
70 be more encouraging than had been
hoped for and treasury officials are be-
ginning to believe that the balance of
expenditures over receipts will not be
SO large as during the two preceding
months of the present fiscal year. The
excess of expenditures over receipts
during July and August averaged
pretty nearly 100000 each month,
but thus far this month, and it is half
gone, the excess has been less than
$500, 600 with indications of keeping
down pretty well during the remainder
of the month. The receipts of the
government thus far for September
have been 81, III, 900 and the expend-
itures s12, 033, 000 The receipts for the
first two months of the fiscal year were
s2S, 500, SIS and the expenditures $685.
30s, 26S.
RENATOR FAULKNERS AMENDMENT.
Senator Faulkner makes the follow
ing explanation in support of his
amendment to the repeal bill: THE
amendment submitted by me is not a
new idea in finance, but is based upon
the successful working of the French
system. France to-day, with a popula-
ton of only one-half that of the United
States, and much inferior in her inter
| national commerce and business enter
| prise. has maintained without difficulty,
and at a ratio of 151l to l, $780, 900
of silver on a full parity with gold
| The limit of my amendment, including
subsidiary silver and standard dollars,
is $500, 900, 900. 1t provides, first,
for the coinage of bullion now in the
| treasury, which, at it's coinage value,
would amount to s1T4,000,000 at the
rate of So, 900, 900 per month and author
ICES the purchase, at the market price,
of bullion (say 70 cents per ounce of
| 1,t50, 900 ounces per month. This bull
lion is not to be coined until after the
bullion now in the treasury is coined,
unless, in the opinion of the secretary
of the treasury, the demands of the
country require it. But after all the
bullion now in the treasury is coined,
| the amendment provides for the coin
age of SO, 900 monthly of the silver
purchased under the amendment,
until the aggregate silver coinage,
including subsidiary coin and standard
dollars, shall aggregate $500, 600, 900.
| The amount of silver bullion that
would be ultimately purchased may
| be briefly shown as follows:
We have now 4l9, 332, 900 standard dol
ars and 1000, 900 of su bsidiary coin,
aggregating s496, 332, 900 to which must
be added the coinage value of the sill
yer bullion now in the treasury,
amounting to STA, 600, coo, aggregating
1870, 332, 900 leaving $3.50, 900, 600 less sill
yer coinage than the requirements OF
| the amendment, or the purchase OF
about 100, 100000 ounces of silver.
which purchase would extend over a
period of more than five years. The
retirement of the silver certificates and
treasury notes issued in payment for
the bullion purchased under the act of
July IA, 1890, and national bank notes
under $40, would not only bring the
entire silver coinage into active circu-
lation. but would also bring into act
i've circulation our S. so and S. gold
nieceS ("