Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1895-11-28

ns-
, Washington. Nov. 26. - Postmaster
General Wilson has made his first an
nual report to the president. The re-
ce,Els of the p~ostofiice department for
the year ending June 80, 1875. were
ST6lIl 600, and the expenditures $780,
100, IT,. 1t Is gratifying, says the re-
port, that q large portion of he de-
ficiency occurred in the first quarter
of the year. and that revenues are In
creasing with returning prosperity.
Mr.. Wilson estimates Tho reTcnue for
the year ending June 80. 1897. at $780,
1913. 100, and the expenditures at S94,-
81, SOC. the difference to be made up
by congressional appropriation. In
speaking Of the deficiency MI. Wilson
says:
1.-THE regular annual deficiency in
the revenues of the postal service. EN-
phasiZed as it appears TO be by the I'M
usual amount of the deficiencies for
the past two years, may call forth
comment from those who believe that
the postoffice department should be
self-sustaining, but IL should be re-
membered that the free business done
by the department for other branches
and departments of the government,
If paid for at regular or cost rates,
would more than wipe out the de-
ficiencies."
Mr.. Wilson recommends legislation
to prevent abuse of the second class
privileges. He also favors the extern
sion Of the civil 3 ice system.
Figures on oinng
The director Of the mint has sub
mitted mis- report to the secretary OF
the treasury. The value of the gold
deposited at the minis and assay Off
ces during the fiscal year was $751;
4S2,OS2. Of which S65. 161.O07 were
original deposits ard S~22,32l.022 were
redeposits. The value Of the silver
deposited during the fiscal year was
S15.714.365. OF which $15.234, 700 were
original deposits and S479.G6I rede-
pOsits. The coinage by the minis dur
ing the year was: Gold, S43 a::3.4T5;
silver dollars. S3,95G.O11; subtreasury
silver coins. S5.113.469: minor coins,
S712,J94. a total coinage of S5S,715,-
80. In addition TO the coinage eX-
ecuted by the minis during the year,
gold bars were manufactured of the
value of S43. 153.3TO and silver bars to
the value of S1O.341.5 SIS.
The average London price Of silver
bullion during the year was pod. equiv
alent to G3.S cents. The highest price
of silver during the year was GS cents.
and the lowest price. sos cents. At
the average price of silver bullion
during the fiscal year, the ratio OF
gold to silver was 1 to 32.5 and the
bullion value OF a United States silver
dollar was S0.4?lGs.
The value of the gold and silver cs-
timated TO have been used in the in
dustrial arts during the calendar year
of 1891, was approXimated ut S2l 541,-
60, Of which S10.65S.G04 was gold and
S10.SS3.04S was silver.
The estimated metallic stock in the
United States IN July l. 1895. was
gold. SG36. 229,S25; silver, SG25, so, 949,
a total OF S1.2G2. O4S. IA.
The estimated product Of gold and
silver in the United States during the
year 1894, was gold, $50. 100000; silver,
40, 600 fine ounces. OF the
cial value of SCI. 1922 O0. and the COIN
ing value of $4,000, 600.
The estimated production of the
world for the calendar year was gold,
S130.626. 100; silver, coming value,
S2l6,S92,200; commercial value, $780,
go. 900.
Mr.. Preston in n review OF the mon
etary legislation of the country states
that the real demonstration of silver
took place i'm 1853. when the weight OF
the divisional coins was reduced about
I per cent. Thus, he says. 1t was not
an accident or an oversight: IL was
expressly declared in the house of
representatives that the intention was
to make gold the sole standard of
value in the large transactions and
silver subservient TO ii for small ones.
The act Of 1878. he says, was only
nominal.
Railroad Earnings.
The interstate commerce commits
sion has Just issued a preliminary re-
port on the income and expenditures
Of railways in the United States for
the year ending June 30, 1895. pre-
pared by the statistician. The report
includes the returns from $50 roads
whose reports were filed on or before
November O.. 1895. and covers the ope-
rations of 16i,529 miles Of line, or 92
per cent of the mileage in the United
States. The gross earnings were ST.
O03,022,Sa3. The operating expenses
were SGT, e61 $50. leaving net earnings
or $40 3I go for the same roads in
1871. Reduced TO n mileage basis,
gross earnings We're S6.096: operating
expenses, S4,119, and net earnings. ST.
91i, or n decrease in gross earnings OF
Sl3 per mile, as compared with last
year. and of S1.094 per mile as COM
pared with 1893; a decrease In operat-
ing expenses Of Sill per mile as COM
pared with 1894. and Of S757 per mile
as compared with 1893. Net earnings
show a gain over 1894 of S3i per mile
OF line, but a decrease of 377 per mile
as compared with 1893.