The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1896-12-17


2.Sl per cent for the fiscal wear endin
June 30, 1895.
NATIONAL NOTES.
The total outstanding cireulatin
notes of all national banks on the Bis
day of October. 1896, amounted +
1924, 552, SO7, including unredeeme,
but fully secured notes of banks insol
vent and in process of liquidation. TIL
increase in national bank circulation
during the year ending on that da,
was S2l ,099, 429. On October 6. 1896
when the condition of national bank
was last reported, the total resource
OF the 3679 active institutions was s3.
1853, 665, 3 ID. So, which includedS1 ,S93.
26S, 1888. 81 in loans and discounts an,
1862, l65, 1885 in money of all kind
ON hand. Of their liabilities, 1880,
e9l .05S.03 was due to individual de
positors, and 1903, 944, OI9 consisted O
outstanding circulating notes.
THE TARIFF QUESTION.
desire to recur to the statement,
elsewhere made concerning the Govern
ment receipts and expenditures for tn,
purpose of venturing upon some sugges
tons touching our present tariff law
and its operation.
This statute took effect on the 2Stb
day of August, 1894. Whatever NAV
be It's shortcomings as a complete meas.
ure OF tariff reform, it must be con.
coded that it has opened the way to a
freer and greater exchange of commo.
dltles between us and other countries
and thus furnished a wider market
for our products and manufacturing.
The only entire fiscal year during
which this law has been IN force ended
ON the Both day of June, 1896. In
that year our imports increased over
those of the previous year more than
$6, 800, 900, while the value of the
domestic products we exported and
which found markets abroad was near
ly $40, 900, 900 more than during the
year. All must agree that
our tariff laws are only primarily
justified as sources of revenue to enable
the Government to meet the necessary
expenses of its maintenance. Consid-
cred as to its sufficiency in this aspect.
the present law can by no means fall
under condemnation. During the only
complete fiscal year of its operation it
has yielded nearly $4,000, 900 more
revenue than was received from tariff
duties i'll the preceding year. There
was, nevertheless, deficit between our
receipts and expenditures of a little
more than $25,00O,000 This. how
ever, was not expected.
The situation was such in Decem.
Der, seven months before the close of
the fiscal year, that the Secretary of
the Treasury foretold deficiency of
SIT, 100000. The great ana increas-
ing apprehension and timidity in bust
ness circles and the depression in all
activities intervening since that time,
resulting from causes perfectly well
and entirely disconnected
with our tariff law or its operations
seriously checked the imports we
would have otherwise received, and
readily account for the difference be.
tween this estimate of the Secretary
and the actual deficiency. as well as
for continued deficit.
We cannot reasonably hope that our
recuperation from this business depres.
sion will be sudden, but it has al
ready set in, with a promise of accel-
Grafton and continuance. believe
our present tariff law, if allowed a
fair opportunity, will. in the near
future, yield a revenue which, with
reasonably economical expenditures.
will overcome all deficiencies.
LIQUOR PRODUCED.
The total production of distilled
spirits, exclusive of fruit brandies. was
'S, 5SS,7O3 taxable gallons, being an
Increase of $3.50, 1903 gallons over the
preceding year. There was also an
Increase of ,443,G gallons of spirits
Produced from fruit, as compared with
he preceding year. The number of
'arrels of beer produced was35, 500, $50,
is against 33, 5S9,7S4 produced in the
preceding fiscal year, being an increase
If $3.50, 446 barrels.
GOLD AND SILVER.
The total amount of gold exported
Turing the last fiscal year was $112,-
09, 947, and of silver $50, 541 ,670, be-
ng an increase of $45, 941 ,466 of gold
nd $13,246, 1884 of silver over the en-
'ortations of the preceding fiscal year.
The imports of gold were $685.
25,065 and of silver S,777, 1856, be-
ng 81, S59,695 less eff gold and $S,-
60, 0O7 more of silver than during the
receding year. The total stock of
metallic money in the United States at
he close of the last fiscal year ended
II the 3Oth day of June, 1896, was ST.
2S.326,035, of which $500, 597, 964
1as in gold and S62S, 72S, OH in silver.
AN APPEAL FOR ECONOMY.
In concluding this communication
IS last words shall be an appeal to the
congress for the most rigid economy
n the expenditure of the money it |
Odds in trust for the people. The
Vay to perplexing extravaganza IS
asy, but a return to frugality is diff
ult. When. how ever, it is considered
hat those who can bear the burdens of !
axation, have no guaranty of honest
are save in the fidelity of their public
ervants, the duty of all possible re- !,
renchment is plainly manifest. When
ur differences are forgotten and our
ontests of political opinion are no
onger remembered, nothing in the
etrospect of our public service will
@ as fortunate and comforting as the
collection of official duty we'll per-
ormed and the memory of constant
eviction to the interests of our confid.
ng fellow countrymen.
(Signed)
GROVER CLEVELAND