The record-union., 1894-12-04

was 1866, 1S5 81. The total expenses in
Cured in the payment of the bounty upon
sugar during the fiscal year was $780,
140 So.
BIG DEFICIT IN SIGHT.
1t is estimated that upon the basis of
our present revenue laws the receipts of
the Government during the current fiscal
year ending June 80, 1895 will be S424,
4Zl, ,l4S A, aud its expenditures S444. 49,,
14S A, resulting in deficit of $50, 100000.
OUR STOCK OF MONEY.
On the first day of November, 1894, the
total stock of money of all kinds in the
country was s., 24O, 713, 1888, as against
S2,204, ,651, 900 on the lst of November,
1898, and the money of all kinds in cir
culation, or not included in the Treasury
holdings, was 81 ,672, 093, ,422, or S24 % per
capita upon an estimated population Of
Us, I,OUO. AT the same time, there was
held in the Treasury gold bullion
amounting to $44.6I5,177 80, and silver
bullion which was purchased at a cost of
Sl27, ,779,98S.
SILVER PURCHASES.
The purchase of silver bullion under
the Act of July IA, 1890. ceased on the
hrst day Of November, 1898, and up to
that time there had been purchased DUR
Ing the fiscal year ii .9l7, ,65S.7S fine
ounces at cost of SS, 7l5, ,52I ~, an aver
age cost of S0.7313 per fine ounce.
Inc total amount of silver purchased
from the time that law took effect until
the repeal of its purchase clause on the
date last mentioned was los, ,674, $50. .53
llne ounces which cost Sl55, ,93l.00 %, the
average price per fine ounce being S0.9244.
The total amount of standard silver
dollars coined at the mints of the United
States since the passage of the Act of Feb
ruary %, 1889, is S42l, 77S, ,49S, OF which
lth TtlR anina1 I1n1ar ho
visions OF that Act, S3S, ,53l. l43 under the
provisions of the Act of July II, 1890,
and S3,O1S,41 under the Act providing
for the coinage Of trade-dollar bullion.
The coinage of all metals of our mints
during the last fiscal year consisted of
o3, 4o5, 20 pieces valued at Si06,2 ,2l6. 730 06,
OF which there were 500, AZ, ,9I2 90 In gold
coined, sos in standard silver dollars,
S6,O24, 40 30 in subsidiary silver coin, and
S7l6,9l9 20 in minor coin.
PRODUCTION OF PRECIOUS METALS.
During the calendar year 1893 the pro-
duction of precious metals in the United
States was estimated at l,739 323 fine
ounces of gold, of the commercial and
coinage value OF $50, ,955, ,000 and 0,000, 900
line ounces OF silver, of the bullion or
market value of $40, 500, 900, and the coin
age value of S77, $4,000.
1t is estimated that on the first day of
July, 1894, the stock of metallic money
III the United States consisting of coin
and bullion amounted to 81 ,25l $40, ,95S, Of
which S62l, ,923, 2Ol was gold and S624, b.
IoI was silver.
NATIONAL BANKS.
Fifty National Banks were organized
during the year ending October 81. 1894.
with capital of $3.50, ,O00, and seventy
nine with capital Of $40, ,4T5, GOO, went
into voluntary liquidation. Twenty-one
banks, with capital OF S2, 40 600, were
placed in the hands of receivers. The
total number of National Banks in ex-
isteDce on the 3lst day of October last
was 8, ,l56, being forty less than on the 3Ist
day of October, 1893.
The capital stock paid in was S672. .67I. =
3bo, being S9.69S, ,59l less than at the same
time in the previous year, and the sur
plus fund and undivided profits, less
expenses and taxes paid, amounted to
1884. III ,0S2 l., which was Sl6,9S9, $50 less
than on October 81, 1893. The circulation
was decreased Sl,74l ,563. The obligations
of the banks to each other were increased
Sl17, POS, ,334, and the individual deposits
were S277, ,294, 4S9 less than at the CORES
ponding date in the previous year, and
checks and other cash items were $50. 34g.- =
963 more.
The total resources of the banks at the
date mentioned amounted to s., ,47l, ,922, ,O55,
as against S3, lO9, ,563, 2S4 80 in 1893.
War Department.
From the report of the Secretary of
War il appears that the strength OF the
army on September 30, 1894, was 2, l35 of
ticers and %, 765 enlisted men. Although
this is apparently very slight decrease
compared with the previous year. the
actual effective force has been increased
by nearly two regiments, through the re-
organization OF the system of recruiting
and the consequent release to reglmental
duty Of the large force of men hitherto
serving at the recruiting depots. The abb
clifton of these depots, it is predicted,
Will, furthermore, effect an annual reduc-
ton approximating $3.50, 900 in the direct
expenditures, besides promoting gener-
ally the health, morals and discipline OF
the troops.
POLICY OF CONCENTRATIONS.
The execution OF the policy of concen-
trating the army at important centers of
population and transportation, fore
shadowed in the last annual report of the
Secretary, has resulted in the abandon
ment of fifteen of the smaller posts, which
was effected under a plan which assem-
bles organizations of the same regiments
hitherto widely separated. This rendered
our small forces more readily effective
for any service which they may be called
upon to perform; increases the extent of
the territory under protection without
diminishing the security heretofore af-
torded to any locality, and improves the
discipline. training and esprit du corps of
the army, besides considerably decreas-
ing the cost OF its maintenance. Though
the forces of the Department of the East
have been somewhat increased, more than
three-fourthS of the army is still stationed
west of the Mississippi.
This carefully matured policy, which
secures the best and greatest service in
the interest of the general welfare from
the small force comprising our regular
army, should not be thoughtlessly en-
barrassed by the creation OF new and un-
necessary posts through Acts of Congress,
to crafty the ambitions or interests OF
localities. While the maximum legal
strength of the army is 25,0 900 men, the
effective strength, through various
causes, is but little over 1000 men. The
purpose OF Congress does not, therefore,
seem to be fully attended by the existing
condition.
SEA COAST FORTIFICATIONS.
While no considerable increase in the
army is, in my judgment, demanded by
recent events, the policy of sea coast for
tiications, i'll the prosecution of which
we have been steadily engaged for some
years, has SO far developed as to suggest
that the effective strength of the army be
now made at least equal to the legal
strength. Measures taken by the depart
ment during the year as indicated have
already considerably augmented the ef-
fective force, and the Secretary OF War
presents plan which L recommend to
the consideration OF Congress to attain
the desired end. Economics effected in
the department in other lines of work
will offset to great extent the expendi-
| ture involved in the proposition submit
ted. Among other things, this contein-
plates the adoption of the three battalion