The Coconino weekly sun., 1893-12-07
The Treasury.

to the present situation.
 The Treasury.
 The secretary Of the treasury reports that the receipts of the government from all sources during the fiscal year ended June 3J 1893, amounted to s46L 7i6 S6i. 9i and it's expenditures to St59 SI4. .614 20 There was collected from customs s,sS, sSSoi673 and from internal reve- nue siei,O562S 93 Our dutiable imports amounted to si2l sS6 Ill m increase of $,2. 453, 99 over the preceding year, and impor tations free of duty amounting 10 4H,5ii,2il. de- crease from the preceding year of sii4i5,ti7. Internal revenue receipts exceeded those of the preceding year by ST,lH,4B.S2-
 The total tax collected ON distilled spirits was fai.72l 2eOSS; on manufactured tobacco, s3l, sS9 7lLH, and on fermented liquors. S3e, 5ts,9S3OZ We exported merchandise during the year amounting to SSi7, oiS l9i a decrease of SlS2, 2,6i2.9S4 from the preceding year The amount of gold exported was larger than any previous year in the history of the government, amounting to sl0s 6Sl SH and exceeding the amount exported during the preceding year by as,4s5,5i7. The sum paid from the treasury for sugar bounty was 30, i3lSS an increase over the preceding year Of S,O3I053 O9.
 It is estimated upon the basis of present revenue laws that the receipts Of the gove n- meut for the year ending June g., 1894, will be si3 ,l2l, 1865 s6 and it's expenditures si5s l2l,- 355 3s, resulting in deficiency of 2s,O00,O On the lst day Of November, 1893, the amount Of money of all kinds in circulation or not in- cluded in treasury holdings was si,7is. 54i. Gs2, an increase for the year of sil2 4os, s47. Esti- mating our population at G, ,i2j 900 at the time mentioned the per capita circulation was s!5 70 On the same date there was in the treasury gold bullion amounting to S96, ,?73, and silver bullion which was purchased at a cost Of siss,- 26l, ,513
 hc of gflypr unler inc law Of .T1lv i4. 1892, during the last fiscal year, aggregated 54.Ols, l62 59 fine ounces, which cost BIS 53l, 374b3 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 l6S 6T4,59l46 fine ounces which cost si55oD.9iJsL Between the Ist day of March ls9j, aud the ist day of November 1895, the government purchased un' der all laws 5J3O13, TT fine ounces of silver at cost Of s5I6,6220Ia The silver dollars that have been coined under the act of July lI, 1897, num- Der 36,Os7.2si The seigniorage arising from such coinage was si9i ,eO9, s 39. leaving on hand in the hints TAO, ,699 76J fine ounces of silver which cost sI26, 6,75s,2ls
 Our total coinage of all metals during the last fiscal year consisted of 99I, ,2sJ s75 pieces valued at sI3 68S. l7S 80 Of whi there was SaJ,. O3s IiJ in gold coin, si3,s,7l5 in silver dollars e. 2i7 22J % in subsidiary silver coin and SOS',. iO3 90 in minor coins. During the calendar year Iso2 the production of precious metals in the United States was estimated to be l, ,95o,S5 tae ounces of gold of the commercial and coinage value of SO, ,OO1,1 0 and 5S 900 900 hne ounces of silver of the bullion market value of S1O, ,75O- OOl and of the coinage value of S7i, ,9ss SOL
 It is estimated that on the first day of July | 9l the metallic stock of money in the United States consisting of coin and bullion amounted to s1 2is 559 169 of which s597. 697, ,6S5 was gold and s6l5, ,s6l, ,4S4 was silver.
 One hundred and nineteen national banks were organized during the year ending October 3l Is93 with capital of Sll ,2SO, 900, forty six went into voluntary liquidation and 11s sus- pended Sixty.five of the suspended banks were insolvent, eighty.six resumed business, and seven remain in the hands of bank ex' aminers with prospects of speedy resumption, Of the new banks organized A were located in the eastern states fl west of the Mississippi river and 3i in the central and southern states The total number of banks in existence on the 3lst day Of October 1893, was 3,79s, having an aggregate capital Of s6a5, ,55',120 The net in crease in the circulation of these banks during inc year was S35 sS5 s72. The recent repeal of the provision of law requiring the purchase of silver bullion by the government as feature | of our monetary scheme has made an entire change in the complexion of our currency af' fairs do Lot doubt that the ul innate result of this action will be most salutary and far reaching.
 l In the nature Of things, however, it is impos sible 10 know at this time precisely what condi' | lions will be brought about by the change, or 1 what If any, supplementary legislation may | in the light of such conditions appear to be es | sential or expedl mt Of course, after the re- | cent financial perturbation tim is necessary | for the re. stabishment of business confidence When, however, through this restored conf | aance the money which has been frightened | Into hoarding laces is returned to trade and | enterprise. survey of the situation will nrobably disclose a safe path leading tc | n permanently sound currency abundanuy | suficient to meet every requirement Of our in | creasing popula tion and business. In the pur | suit nf this object we should resolutely turr away from allurlng and temporary ex | pedients, determined to be contented witn nothing less thau lasting ana com
 nrehensive financial plan In these elr | cumstances am convinced that reasohaolt | delay in dealing with the su ject instead o heIn9 injurious, will increase the probability O
 wise action
 desire to earnestly suggest the wisdom amending the existing statutes iu gara l' | inc Issuance Of government bonds
 | The authority now vested fin the secretary
 ,be ,rea. .ury to issue bonds is not as clear as I
 sbo,ld he ana the bonds authorized are disad vantageous to the gov rnm n both as 10 tn
 time of maturi and rate Of interest
 The superintendent of immigration througl
 inc secretary of the treasury report tnat uut
 ing inc i st fiscal year there arrived st ou
 N.,s ls aa1 1ea immigrants Of these l,O03 wer
 ,ot t permitted to land under the limitations
 ,ne law and ST were returned 10 the countrle
 ,ro,n which they came by reas ot their havln
 herome public coar4e The total arrNai
 were itl. .os4 less than for the previous year.