The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-12-05

BUSINESS AND FINANCE.
silver Legtsl alton Not Needed -Interna-
tfonsi Conference Recommended.
The secretary of the treasury reports
that the receipts OF the government from
all sources during the fiscal year ended
June 30. 1893. amounts TO 1861, 10. 56L04
and It's expenditures TO $459, 37f GA. 90
There was collected from customs $780,
355 0l6. IS, and from internal revenues
xi6i, OF ,623. 50. Our dutiable imports
amounted to s42i, sd, 5ii. an increase of
inporsations tree from duty amounted TO
S4fs. 543.2li, decrease from the preceding
year of SIS, ASS. Az. Internal revenue re-
ceipts exceeded those OF the preceding
year by 81. 14T, 1853. The total tax coll
iected on distilled spirits vas $54 20 260. So ;
on manufactured tobacco, $3i. $50, III. 0i; on
fermented liquors, So, 54s, 9S3.07. We ex-
ported merchandise during the year
amounting to ss47, SOS. 1914, decrease of
SIS, 6l3. "a from the preceding year.
The amount of gold exported was larger
than any previous year in the history of
the government, amounting to xf0s, $50 si4,
and exceeding the amount exported dur
ing the preceding year by SIS. Ass, SIT. The
sum paid from the treasury for sugar
bounty was So. 357, 80 81, an increase over
the preceding year of 81. 033. 053.03. 1t is
estimated upon the basis OF present rev.
enue laws that the receipts of the govern
ment for the year ending June 80. 1898,
will be $3.50. i2i 1865. 80. and It's expenditures
SioS, III IS, resulting in deficiency OF
81, Co., COO.
On the LIST day of November. 1893. the
amount of money of oil kinds in circula-
ton. or not included in treasury holdings.
was 81, as. 54i ,6s2, an increase Tor the year
of $Il2, 40 4945. Estimating our popula-
ton at 81. $3.50 ut the time mentioned,
the per capita circulation was SIS 40 On
the same date there was in the treasury
gold bullion amounting to $685.. 273 and
silver bullion which was purchased at
cost of $i26. 26l ,553. The purchase of silver
under the law of July IA, 1890, during the
last fiscal year aggregated 5i.00s, 1872 so
Tine ounces. which cost 81. SSl, 3T453. The
total amount Of silver purchased from
the time that law became operative until
the repeal OF its purchasing clause on the
LIST day of November, 1893, vas 1856, 61t, 500 Is
Hne ounces. which cost Sia0 30 $40 GA.
Between the LIST of March, 1873. and the
LIST day of November. 1898, the government
purchased under all laws sos, o03, III fine
ounces OF silver at a cos; of $5l6. 622, 9i6.
The silver dollars that have been coined
under ths act OF July Ia, 1890, number
36.os7.2s5. The seigniorage arising from
such coinage was s6.s77. 6io.39, leaving on
hand In the mints ii0 go 40 fine ounces
of silver. which cost $40, SIS, 2is. 1t is
estimated that on the LIST day of july, 1893,
the metallic stock OF money in the United
states. consisting OF coin and bullion
amounted to 81 .2l3 $50, ltsl of which 1897,
s91 ,tis5 was gold and s6i5 SCI, Ash was silver.
One hundred and nineteen national
banks were organized during the year end
ing October 81, 1885, with capital of sill
10000: forty-slx went into voluntary
liquidation and i5s suspended. Sixtv-five
OF the suspended banks were insolvent,
eighty-six resumed business and seven re-
NAMED in the hands of bank examiners
with prospects of q speedy resumption. OF
the new banks organized. forty-four were
located IN the Eastern states, foriy-one
west OF the Mississippi river and thirty
four in tho Central and Southern states.
The total number of national banks in ex-
fstenee on the 3lst day of October 1913
vas 3, Aaa. having an aggregate capital OF
stslh. SOS, ~. The net increase in the circu.
lation Of these banks during the year was
$pl $50 aSa
The recen; repeal of the provision of law
requiring the purchase of silver bullion by
the government, as feature Of our none
tary scheme, will make n change in the
complexion % our currency affairs | do
not doubt that the ultimate result of this
act Will he most sanitary and far reaching.
In the nature of things, however. il
is impossible 10 know at this time
Il
brought about by the change, or what. II
any supplementary legislation NAV. in
the light Of such conditions. Ap,seAr 10 be
essential or expedient. OF course. after
the recent financial perturbation, tine Is
necessary for the Te-sstabltshment OF bust.
ness confidence. When. however, through
this restored confidence The money which
has been frightened into hlding-p!aces Is
returned 10 trade and enterprise, A survey
OF ths situation VIII probably disclose a
sale path leading 10 permanently sound
currency. shundantiy sufficient to meet
every requirement of our increasing pput-
fation and business. In the pursuit of this
object We should resolusely turn awav from
sliaring and temporary expe,ftentS de.
sermaued ~ bc content with nothing less
than lasting aud comprehensive tuanctai
plan In these circumstances / am con-
slncei that a reasonable delay ~ deeiine
vita this subject. instead of being iniari-
oas, "id increase the probability OF slse
action.
Tae monetary conference which assem-
bssd AZ BRUSSELS upoa our invitation. vas
ADJOURNED 60 the Sosa CAV OF November IN
TIE present year. The considerations last
stated sn3 the fast taat definite proro-
ss1ion from ihe I aitet States seemed 10 To
expected on tue rs-AssruahlinE OF the cor.
Terence tel NE 20 express Willingness 20
have the meeting siAt fngthsr pos sponeA.
- ~ IS a. tH-N nav u aG&tl &c wise n
give seneyAl authority - the president 10
invite other nzttous - such 4 conference
at say tine when there shoaid he $ .air
prospect 81 accomplishing &E international
agreement on the subject 81 eoinage.
desire also Ia earnestly sucEes, she Wis
uc1 q nsadlng tae sX stag statutes in rg.
gard 70 ts3c issuance II government bonds
Re authority nox vested in the secretary
81 the treasury - issue bonds IS u0s as clear
So sE should BE. ana the bords Ausssavy zed
af~ atsAavsutsEcoUs Il the government
ooth as 80 the Esras Of their maturity and
Ts3e % i8Gertsx
lac superintendent o. Immigration
tEFoAsA iAe secretary ~ tAe trVssury. re-
r9fS sha& during iae lsss hs1zi year tasre
srrasc3 40 car pests go. 7skS ftt sterzsfs-
~ tA~sc k,tsSs we're n0s pevmsiiea - lAa&
nNaas She iiGttag4ers 81 the lAs. aaa As~
Msfe Sctafoe4 - tke countries fsasa Walsh
shSy came BY reason Of tAssr haylae -
cSfas p1h-ic charges The total arrivals
ssfs A4eav99 4VSs tAsa a0E tie pre- fso4s
yea.