The record-union., 1898-12-06
TREASURY STATISTICS.
Receipts and Expenditures for the
Past Fiscal Year.

The Secretary of Treasury reports
that the receipts of the Government
from all sources during the fiscal year
ended June 80, 1898, including $S4, 751,-
223 received from sale of Pacific rail-
roads, amounted to $405, ,321 ,335, and its
expenditures to $143, ,36S, $50. There
was obtaihed from customs $149,575,-
062, and from internal revenue S1I0,-
900,64 Our dutiable imports amount
ed to 1924, 735, ,479, a decrease Of $5S,-
1866 over the preceding year, and
importations free of duty amounted to
$241, Ala, It's, a decrease from the pre-
ceding year of $40, ,524 06S. Internal
revenue receipts exceeded those of the
preceding year by $24, ,212, ,06S.
The total tax collected on distilled
spirits was 500, ,546, ,999, on manufac
tured tobacco S36, $50, 522, and on fer
mented liquors $39,515,421 We ex
ported merchandise during the year
amounting to 81, ,231, 49,, $50, an increase
of $180,4SS,774 from the preceding
year 1t is estimated upon the basis
of present revenue laws that the re-
ceipts of the Government for the year
ending June 80, 1899, will be $577,
7S6,T61 and it's expenditures $3.50, ,S74,
CAT. resulting in deficiency of $112,-
O00O00.
On the 1st of December, 1898, there
was held in the treasury gold coin
amounting to $13S, AL ,547; gold bull
lion amounting to $13S, ,502, ,545; silver
bullion amounting to $93, ,359, 250, and
other forms of money amounting to
S451, ,963, ,9S1. On the same date the
amount of money Of all kinds in circu-
lation or not included in treasury hold
ings was 81, 1886. .S79, ,5O4, an increase for
the year of S165, ,794, ,966. Estimating
our population at 75. 100000 at the time
mentioned, the per capita circulation
was $500 On the same date there
was in the treasury gold bullion
amounting to $13S. SOC, ,545.
MARKED EVIDENCE OF THE Ma
TION'S CREDIT.
The provision made for strengthen
ing the resources Of the treasury in
connection with the war has given in
creased confidence in the purpose and
power of the Government to maintain
the present standard, and has estab-
lished more firmly than ever national
credit at home and abroad A marked
evidence of this is found in the inflow
| of gold to the treasury. It's net gold
| holdings on November i. 1898, were
| $239, ,SS5, 100 as compared with S153,
| 573. lat ON November l, 1897, and an
| increase Of net cash of S201, 156, 100,
November /, 1897, to $500, ,23S, 30, No
vember /, 1898. The present ratio Of
net treasury gold outstanding Govern
ment liabilities, including United States
treasury notes Of 1890; certificates, cur
rency certificates, standard silver dol
liars and fractional silver coin, Novem-
Der 1, 1893, was 25.3J per cent as COM
pared with 1896 per cent November
/ 1, 1897.
REDEMPTION OF UNITED STATES
NOTES.
I renew so much of my recommends
| ton of December, 1897, as follows:
| That when any of the United States
notes are presented for redemption and
are redeemed in gold. such notes shall
| be kept and set apart and only paid out
in exchange for gold. Under this plan,
| if the holder of a United States note
prefers gold. and gets it from the Gov
ernment he should not receive from the
United States a note paying gold for it
in exchange. The reason for this is
| apparent When the Government is
sues an interest bearing debt to provide
gold for the redemption of United S ates
notes and a non-interest bearing debt.
surely it should not pay the amount
again for gold If they are put out in
| any other way, they may return again.
| to be followed by another bond issue
to redeem them and an interest-bearing
debt to redeem non-interest bearing
/ debt.
This recommendation is made in the
belief that such provision of law would
insure to a greater degree the safety
Of the present standard. and better pro-
tect our currency from the dangers to