The Portland daily press., 1898-12-07
GOVERNMENT FINANCES.
Figures from the Report of Seer tary
Gage.


treasury, states that the receipts from
all the revenues of the government from
all sources for the fiscal year ended June
80, 1888, were s494, 333, 59S.75, including
| from internal revenue. $l70, SOC, GAL .49.
from customs, S149, 575, 06235.
| The total expenditures were $685.. $751;
POI. IS. as follows: For civil establish
ment. $50, DIG, 1914 IS; for military estab-
Iishment. SOL, 9g2, 000. 80; for naval estab-
nshment, $50, 500, 9s4.s 3d. for Indian SER
| vice, $40, 994, 667 20; for tensions, 47.45s,-
3ss. Gil: for interest on the public debt,
ss7, $50. O56. 23; for deficiency in postal
revenues, $40, 5o4, U40 AZ
Showing deficit of s3s, 047, 2476
AS compared with the fiscal year 1897,
the receipts for 1898 increased s63. GAG, 7S5. :
sc.
The revenues of the government for the
current fiscal year are estimated upon the
basis of existing laws at S577, S74, 647s
The expenditures at $3.50, 874 ,647 Deiici-
ENJOY, $ll2, 000, 900.
For the fiscal year 1900 the revenues are
estimated at 500, sos. ii2 showing an ex-
pected deficiency of $50. 04S, 1878.
OPERATIONS OF THE TREASURY.
The aggregate receipts for the fiscal
year, under warrant, as shown by the
report of the treasurer Of the United
States, were s7Ss, 54e. 255 30, and the dis
bursements, sss7, 6Ss. so. There was
consequently decrease of $50, OBS. 5000
| in the ge eral treasury balance. which
s5ond at 1874. 700, 2s7.7i at the opening OF
La 4 OF q
close. Besides the ordinary revenues,
there were receipts on account OF the
public debt which swelled the total in
come available in the fiscal operations OF
| the government to S4Sl ,6ls, 255.20, while
corresponding additions to the ordinary
expenditures brought the total on this
side of the account up to S64S. 56i 10y; %.
and created a deficiency of SOL. 948, o49.6 Oh
as the net result. These figures how
ever, do not include any part OF the loan
of $500, 900, 900, the proceeds of which had
begun to come in before the close or the
year, though none were formally covered
| into the treasury until afterward. On
the side of the receipts is included the
sum of $64, ISL, 223.75, realized from the
sale of the Union Pacific and Kansas Pa
cific railroads. while, on the other hand,
| the expenditures are Increased by $29, $780,
l.52, disburSed In the redemption OF Pa
cific railroad subsidy bonds.
| NATIONAL BANKS.
| During the past year Sc were organized,
SO placed in voluntary liquidation, and
| z failed, including one of the banks in
liquidation, above referred to, making a
net reduction during that period of 10
banks.
FOREIGN COMMERCE..
The foreign commercesof the fiscal year
1898 In many respects has been phenom-
email. The expectations of the products
of both field and factory exceeded in
value those of any preceding year. and
the grand total of exports was the larg-
est ever recorded. For the first time in
the history Of eur foreign commerce. the
years expectations averaged more than
| 500, 900, 600 per month, the total being
| 81 1881, 49,, $50. against 81, $50, 1913, $50 in
| 1897 and 81, 030, 278, l4S in 1892 no other
years having reached the billion dollar
line.
Of our domestic exports, the value of
agricultural products was 1858, 6S3, $40,
snrpassing by $54, 355, 1888 the highest rec
ord ever before made, that OF 1892 Our
manufacturers also made their highest
record of export, those for the year being
$3.50, 697. 354, against S277 ,2s5, 59l in the
preceding year. For the first time in the
history CT our foreign commerce, the ex-
ports Of domestic manufactures were
greater than the imports of foreign man.
ufactures, while the total exports of the
year were twice as great as the total inn
orts-a condition heretofore unknown,
the trade balance in our favor being more
than twice as great as that of any former
year.
MARITIME COMMERCE.
War with Spain and the annexation Of
the Hawaiian archipelago, which have
changed the political and commercial
relations of the United States not only
with Cuba, Porto Rico. Hawaii and the
Philippines, but also with the continents
between which and North America those
islands are stepping stones. require the
prompt adoption of an affirmative mari
time policy by the United States, says the
report, and the following recommended
lions are made:
First-A ramode1ing and extension of
the act of March g. 1891. relating to the
carrying of ocean mails in American
steamships, SO that it shall meet require
ments which have arisen since the law
went in TO operation.
Second This establishment of q sys.
tenn of graded bounties upon the mileage
navigated by registered American YES
sells while engaged in the foreign carry
ing trade as compensating for the training
of seamen available for the national de.
fence. the system to have regard also to
the construction of vessels which may be
promptly and economically converted into
cruisers, troopships, Golfers and supply
ships for the use of the government.
Special provision should also be made for
vessels and men engaged in the deep sea
fisheries.
Third-Extended application of the
rinciple of the act of May 10. 1899, by
virtue of which the St. Louis and st.
Paul were constructed in this country up.
on the registry OF the foreign-built steam
ships New York and Paris, this extension
to continue for short term of years and
to be SO guarded as to preserve the coast
ing trade to American built vessels.
Fourth--A moderate increase in the
rates of our tonnage taxes equalizing
them with the corresponding charges at
present imposed at London, Liverpool
and Hamburg.
Fifth-The restriction of the trade be-
tween the Uniten States Porto Rico and
Hawaii and the costing trade of those
islands to vessels of American registry.
Thaca rrOposftioua aro Fr1,,, 4 {.