The herald., 1897-12-08
On the Nations Financial
Condition
A CURRENCY REFORM SCHEME
TO EXALT GOLD AND RETIRE
oREENBACKs
Fourth Quarterly Report on California
Bank Business Shows a Salts
factory State Of Affairs
..oo,o,ed Pres. spec,al wire.

Associated Press Special Wire.
WASHINGTON, Dec. THE follow
ing is an abstract of the principal points
Of the report of Secretary Of the Treas
ury Gage to congress. together with his
recommendations on the currency ques-
ton, referred to and approved by Pres
ident Mckinley in his message:
NATIONAL FINANCES
Secretary Gage states the receipts
and expenditures for the fiscal year 1897
as follows: The revenues Of the gov
ernment from all sources for the fiscal
year ended June 80, 1897. were:
From customs, $176,554, 1855; from In
ternal revenue, $146. .6SS, ,574.29; from prof.
its on coinage, bullion deposits and as
says, s7.2S9, ,S1353; from District of Co.
lumbla, 1856, 1929; from fees-consular,
letters patent and land, $2,Ss1 555.l2;
from sinking fund for Pacific railways,
s2,277,17S25; from tax on national banks.
81, ,972, ,5OOS3; from navy pension ana
navy hospital funds, ETC., SLEEP S33.05;
from repayment Of interest by Pacific
railways, $942, ,14S.49; from miscellaneous
sources, 1913, 1898; from sales of public
lands, 1854 ,5S1.41; from sales of Indian
lands, $845, ,419.03; from customs fees
fines, penalties, ETC., 1856, ,S27.45; from re-
endorsement for cost of water supply,
District Of Columbia, s321,067.75; from
immigrant funds, 5000, ,936.17; from sales
of government property, $202, ,712.4S; from
deposits for surveying public lands,
312S, 320.75; from soldiers home, perma-
nent funds, s126,617.94; from sales of
lands and buildings under special acts,
$s1, 1870; from depredations on public
lands, $4S,47S.54; from sales of ordnance
material, $4S, ,36S.66; from postal service,
$s2, ,665, ,462.7S. Total receipts, s430,SS7.-
1879.
The expenditures for the same period
were: For the civil establishment, In
cluding foreign intercourse, public
buildings, collecting revenues. bounty
on sugar, District of Columbia and other
miscellaneous expenses, $79.252, ,061.69;
for the military establishment, includ-
ing rivers and harbors, forts, arsenals
and seacoast defenses, $4S, $50, ,267.S9; for
the naval establishment. including con-
struction of new vessels, machinery,
armament, equipment and improve
ments at navy yards, $34, ,561, ,546.29; for
Indian service, s1S,016, ,S02.46; for pen
sions, $141, ,O53, ,164.63; for interest on the
public debt, $S7, ,791, 11O.4S; for deficiency
in postal revenues, $11, ,149, ,206.13; for pos
tai service, sS2, ,665, ,462.73. Total expendi-
lures, s44s, s,439, ,622.S0, showing a deficit
of s1S,052, ,454.4.
In addition to the ordinary revenues
collected during the year the cash in
the treasury was increased by the fol-
lowing sums:
From national bank fund deposited
under act Of July IA, 1890, In excess of
bank notes redeemed, s4,356614.50, and
from the issue of four per cent bonds in
liquidation of interest accrued on re-
funding certificates converted during
the year, s1240, making a total of s4,-
357 ,S54.50.
The securities redeemed during the
year on account of the sinking fund were
LAS follows: Loan Of July and August,
1861, $24O0; five-twenties of 1862 $1,000;
loan Of 1868, $500; funded loan of 1881.
$500; funded loan of 1881, continued at
31k per cent, $1,000; loan of July and Au-
gust, 1861, continued at 31s per cent,
$500; loan Of July, 1882, $1,000; funded