Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1893-12-07

/
Additional adyioea are soon expected Whc
received thoY will prom pty be sent 10 oon2res
together with oil other Information a. hand
accomp inled bg q special executive messaN
fully dotpiling all the facts necessary 10 com
plotc under tanding of tho case and pres 'ntlnl
history Of all miterial, events leading u
10 The present situa ion.
The Treasury.
The secretary Of the treasury reports tha
the receipts Of the government from all sour o
during the hscal year ended June 3D. tsEi
amounted to si6i ~ ,figI Iand It's expenditure
10 80 '7t67i % There WIS collected from
customs eJi, SO Oi6 ~ and from In ornu reve
nue elhi,0 I'2i93 Our dutiablo importi
amounted TO tisl sis7li An Increase OF 1ht
| VI over the PRECEDING year. and imp lrtitions
free Of d1ty amounting 10 tI.,Ii,2Il d.
crease from the preceding year of ti ,4r.iE
Internal revenue receipts exceeded thosi Of tho
| preceding wear by e'lHN.a2
| The total tax col ected on distilled spirits
was iJi71l 900 s.; on manufa tur, d tobacco
tlssp,7ll ~, and on formented lqu1rs ~,
| blHV3iU We exported merchandise during
| the wear amounting to 1911 o. lgL decrease
| OF lsA6llDi from the proco1int year Tue
amount Of gold exported was arior than an
| previous year In the history of the government
amounting 10 fws atsH. ana exceeding tho
amount exported durlnt tho prece ling ye r. by
| Ah 1917 Tho sum paid from the treasury
| Tor sugar bounty was o., t5,l3 - an increase
over the preceding year ofe ,U3LnS3J
II is estimated upon the basis of present
revenue laws that the receipts OF the COVE n
mont for the wear ending June o., isII will be
tlS 1865 and lis expenditures eis igi, =.
50i ~, resulting In n deficiency ~ q. % I0I
On the list day Of November, 10 the amount
Of none Of all kind In circulation or not Ia.
cludod In treasury holdings waA. LIS a. ts2,
m increase for the year Of fll2ilAL Esti.
IN lVa a.
mentioned, the per capita circulation was ;. ~
on the same date there was Ia tho treasury
gold bullion amounting to tJi6T, 10, and silver
bullion which was purchased at a cost OF ara.
20i.5i3
Tho purchase OF silver under the law Of July
H. 1897, during he last fiscal yoar aggregated
b.O 3 1889 nne ounces which cost sBbI.
Tiba The total amount OF silver purchased
from the time that law became operative until
the repeal Of It's purchasing clause on the lst
day Of November 1893, was i64 0fi bpI tS nne
ounces, which cost tlhb0 70, 0iJ ~ Between tho
LIST day OF March, iso, tho LIST day OF
November, 1891, the government purchassi un.
der all laws b1IO1 37I5 nno ounces Of silver alta
cost OF Sld6 s0Ia The silver dollars that have
been coined under the net OF Jul, ~, IsD . mum.
ber so,usi2st The soigniorago arising from
such coinage was 10000 4 30, leaving on hand
In the minis ltl,OJ9 idj nno ounce, OF silver
which cost ti2d, ,7bs.gla
last fiscal year consisted Of p9i, go si5 piece,
valued at 81 6s', lTs ~ OF Will there was sll,.
l3s, IA In gold coin, ,3i1TI5 In silver dollars
~ sl1, y 30 In subsidiiry silver coin and o. is
lOI W In minor coins During the "a endAr year
lssi the production OF precious metals IN tho
United states was estimated to bo i,o5i.3Ib Hne
ounces OF gold Of tho commercial nnd coinage
value Of tD,OOli u and ~, 5000 nno ounces Of
silver OF the bullion or marEot value OF 49, 75O..
IOl aud OF the coinage value Of Hi,0p iOL
II is estimated that on the hrat day Of July
l'0i the metallic stock OF money In the United
states, consisting OF coin and bullion amounted
10 tl,gis hie,ioo Of which slOT Og7, ,os5 was gold
aud 6l5, ,s6l, isl was silver.
one hundred aud nineteen national banks
were organized during the year ending Oatober
b. 1893, with capital OF ~, 80, jOJ, fortg.six
went into voluntary liquidation and 1888 aus-
penicd SlNtyilv0 OF tho suspended imnks
we're insolyent eighty'siK resum'd business,
md seven remain In the hands OF bank ex.
aminers with prospects Of speedy resumption
OF the now banks organized ~ we're located
In the eastern states n west Of the Msslssippi
river and 80 In the central aud southern states
The total number OF banks In existence on the
slst DAY OF October 1885, was 9,70i having an
aggregate capital OF i6l5, IS ,l2l Tho net I'm.
crease In the circulation OF these banks during
the year was i9i's5si2 The recent repeal OF
the provision OF law requiring the purchase Of
silver bullion by the Ovornment a. a feature
OF our monetary scheme has made M entire
change In the complexion Of our currency af.
fairs do hot doubt that the ul Innate result
OF this action will be most salutary and far
reaching,
In the nature OF things, however, II IL impos
slble 10 know ut this time precisely what eondl.
tions will be brought about by the change, or
what II any, supplementary legislation may
In the lisht OF such conditions appear To bo es.
sontial or eXpudi Mt OF course, after the re,
cent financial perturbation tim is necessary
for the re'ostablishmrnt OF business confidence.
When however, through this restored conn
d nee the money which has boon frightened
into boarding laces is returned TO trade and
enterprise, surve Of the situation will
probably disclose u sfe path leading To
u perm tnenu sound currency abundnnuy
sunicicnt to meet every requirement OF ou ia.
crcnsing population AMI business In tho pur.
suit ot this obioct we should rrsolutely turn
away from nlurlng and temporar ex.
pedlents determined to be uontontod with
nothing less than lasting aud com.
prehensivc financial plan In these cir.
cumstanceS am convinced that roasonnblo
delay In dealing with tho 81 jsUL Instead of
being Injurious, will increase the probability Of
wise action
desire to oarnesug suggest tho wisdom
amending the eNistinf statutes la gard TO
the issuance Of government bonds
The authority now vested In the secretary ut
tn trcl urF 10 issue bonds IL not ~ clear ns ID
should be AMI the bonds utharlzel arc dis,t.
vnnIa 'eous to tho gov rnm both as TO the
tim Of mlturi and rate OF interest
Tho superintendent Of imm grafton through
the secrou " tho treasury report that dur.
ing the | ~ nscN year thore ~ iYcA a. our
ports u 10 immigr intA Ot these T. 'dl werr
not permitted to iNud ~ der the limitations OF
the law ant ~ were Viuruel to the cou Irs
II, m Nhicn they anne by rcus II OF their hiylul
be- ume publ @ Hrro m" total arr val,
were IA, % less than Tor the previous year
Department Of Ju,t.cc.
The report NJ tue nItprl'y.flrrl cnattas
the usual summary ~ iho nn .lrs lul prpc.ti
ings OF tho denartmcut uf Ju,uh Ipr the piu
year. together Win c.rtln rrc1uuru il ION.
as To ne ,iyd leg.sl alton on ylr.llt slbja.t, !
cannot too heartily injor3' ihl uro udtlol
IA the fee srst'm a. ami cable % .ht con.
penrttlou " Uutli Slt'r Atlnrio , mlrglta
clerks otfeiorAi courts uul United 5 ate, com.
missioners should bo ahiu,hcl WiN 4s lite,
delay as possible II Is c,par.y IA IN, in.rr,af
OF the eonmunit that tho hu,n,s, OF thc
courts both civil and criminal ,hl,. ba asluau
ana as hcXponsIVe.y cOlductgI ~ tAa o4d, OF
justice will allow.
Inc sysiem Il, therefore, IN 70 shly vlclou,
Whicl makes tho compensation OF c1ur ON
ellHd DEEPEN upon tho vnliuau Of slch bl4inass
anu mus create conflict between proper eX-
eeulon OF The law and private gain, which can.
not fail To be dangerous To tue II shts ami FREQ.
uAm OF the citizen au an Irresistible tomptn.
uph TO the unlusuued expenditure OF plhlie
iundS II In add tion TO this reform another
was lnausurated Ahich would give TO United
s'aleB commissioners the nnal disposition OF
petty oHenSeg Within the grade OF m slemtan
ors, especially those eomlng under the internal
revenue laws, great 0dNanpo would be
made toward u more decent adminlstFallon OF
the crimin | law
Ia my hrst message TO congress dated Docom.