The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1893-12-08
TREASURY DEPARTMENT.
Condition of National FINANCE.

all sources during the fiscal year ended
June 80, 1898, amounted to S461. Tic, 561. 81,
and it's expenditures to $45o. 374, 674 90
There was collected from customs $685.
S55, 016.73 and from internal revenue $161,
or, 623. 93 Our dutiable imports amounted
to $421, $3.50, I'll, an increase of $50, ass, 907
over the preceding year, and importations
free of duty amounted to 81, 544, 211, a de-
crease from the preceding year Of S13, 49,
Al Internal revenue receipts exceeded
those Of the preceding year by s., III, AS. 80
We exported merchandise during the year
amounting to S847. 665, 1914, a decrease of
S1S2, 612, 954 from the preceding year. The
amount of gold exported was larger than
any previous year In the history OF the
governments. amounting TO SOS, $50, S44,
and exceeding the amount exported dur
ing the preceding year by $5S, 4S5, SIT. The
sum paid from the treasury for sugar
bounty was Sc, 1875. 180 49, an Increase over
the preceding year of %, 033, 053. O9.
It is estimated upon the basis Of present
revenue laws that the receipts of the gov
eminent for the year ending June so, 1894,
will be 1880 121, 365.38, and its expendi-
lures. $458, 121. 365.39. resulting in de-
ficiency of $28, 600, 900. On the first day of
November 1893, the amount of money of
all kinds in circulation or not included in
treasury holdings was 81. Ills, "a. 682 an
increase for the year of SIP, 404, 947. Esti-
mating our population at g. ,426, coo at the
time mentioned the per capita circulation
was S25. 49, On the same date there was in
the treasury gold bullion amounting to
500, 657, 273, and silver bullion, which was
purchased at a cost of SIPS, 26l ,553
Silver Purchases.
The purchases of silver under the
law of July IA, $780, during the last fiscal
year, aggregated 81, 008, 1929 fine ounces
which cost S45, 531, 374 49,
The total amount of silver purchased
from the time that law became operative
until the repeal of its purchasing clause
on the first day of November 1893, was
163, 46 fine ounces which cost $685.
$50, 940.S4
Between the first day of March 1873, and
the first day of November. 1893, the gov
eminent purchased under all laws $685.
003,717 fine ounces of silver at a cost of
S516, 622, 94S.
The silver dollars that have been coined
under the act of July, IA. 1890, number
sc, OS7, 1886. The seignorage arising from
such coinage was Sc, 977, OBS 80, leaving on
hand in tbs minis 140, 500, 760 fine ounces
of silver which cost S126, 576, 216
Our total coinage of all metals during
the last fiscal year consisted of 81, $50 875
pieces, valued at S43, 6S5. 1850, of which
there was $50, 038, 40 in gold coin, s., 343,-
lis in silver dollars, $7,217, 220. go in sub
minor coins. During the calendar year
1892 the production of precious metals In
the United States was estimated to be
1886, 375 fine ounces of gold of the COM
and Sc, ZOO, 900 fine ounces of silver of the
bullion or market value of $50, $50, 900 and
of the coinage value of $74, 1856, 300.
1t is estimated that on the 1st day of
July, 1893, the metallic stock of money in
the United States, consisting of coin and
bullion, amounted to s., 213, $50, 161, of
which 1897, 697, 685 was gold and $615, $751;
4S4 was silver.
National Banks.
One hundred and nineteen national
banks were organized during the year end
ing Oct. 81, 1898, with capital of 81 $780,,
600. Forty-siX went into voluntary liquid
alton and 158 suspended. SiXty-fiVe OF the
suspended banks were insolvent, Sc re-
hands of bank examiners with prospects
of speedy resumption.
The total number of national banks in
existence on the 31st day of October, 1898,
was 3, 196, having an aggregate capital Of
$685., 55S, 120 The net increase in the circu-
lat1on of these banks during the year was
$50, 806,S12. The recent repeal of the pro
vision of the law requiring the purchase of
silver bullion by the government as d
feature 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 f&rreaching. In the nature
of things, however. it is impossible to
know at this time precisely what condi-
lions will be brought about by the change,
or what, if any, supplementary legislation
may, in the light of such conditions, ap-
pear to be essential or expedient. Of
course, after the recent financial perturba
ton, time is necessary for thesre- establish
ment of business confidence. When, how
ever, through this restored confidence, the
money which has been frightened into
boarding places is returned to trade and
enterprise, survey of the situation will
probably disclose a safe path leading to
permanently sound currency, abundantly
sufficient to meet every requirement. OF
our increasing population and business
In pursuit of this object we should reso-
lutely turn away from alluring and tenn
porary eXpedients, determined to be con-
tent with nothing less than lasting and
comprehensive financial plan. In these
circumstances / am convinced that a
reasonable delay in dealing with this sub
ject instead of being injurious will in
crease the probability of wise action.
Monetary Conference.
The monetary conference which assem-
bled at Brussels upon our invitation
was adjourned to the Goth day of
November in the present year, for
the considerations just stated and the fact
that definite proposition from US seemed
to be expected upon the reassem bling of
the conference led me to express a will
ingness to have the meeting still further
postponed. 1t seems to me that it would
be wise to give general authority to the
president to invite other nations to such
q conference at any time when there
should be fair prospect of accomplishing
an international agreement on the subject
of coinage ] desire also to earnestly sug-
statutes in regard to the issuance OF gov
eminent bonds.
The authority now vested in the secre-
tary of the treasury to issue bonds is not
as clear as it should be and the bonds
authorized are disadvantageous to the gov
eminent, both as to the time Of their ma
turity and rate of interest.
The superintendent Of immigration,
through the secretary of the treasury, re-
ports that during the Inst fiscal year there
arrived at our ports 40, 1913 immigrants.
Of these, 1,063 were not permitted to land
under the limitations Of the law. and 677
were returned to the countries from
whence they came, by reason of their hav-
ing become public charges. The total ar
rivals were 140, 034 less than for the previ-
Gus year
The secretary in his report gives an aC-
count of the operation of the marine
hospital service and of the good
work done under its super
vision, preventing the entrance and
spread of contagious diseases. The adj
monitionS of the last two years touching
our public health ana the demonstrated
danger of the introduction of contagious
diseases from foreign ports has invested
the subject Of national quarantine with in
creased interest. A more general and
harmonious system titan now exists
acting promptly and directly every where
and constantly operating by preventive
means to shield our country from the IN
vasion of diseases and At the same time
having due regard to the rights and duties