The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1898-12-10
OUR FINANCES.
Interesting Figures Regarding Rev
enues and Expenditures.

The secretary of the treasury reports
that the receipts of the government from
all sources during the fiscal year ended
June 30, 1885, including sS4.75l ,223, received
from sale of Pacific railroads, ammounted
to $i05, 32l, 1886 and its expenditures to $i43,-
36S,5S2 There was collected from GUS
toms $li9, 1909 and from internal revenue
70,900,Gi1. Our dutiable imports amount
ed to 1921 .73J,479 a decrease of $5S156,G90
over ;he preceding year, and importations
free of duty amounted to S29l HALO, a de-
crease from the preceding year of $9O,-
52i,O6S. Internal revenue receipts exceeded
those of the preceding year by $A ,2l2 O6S.
The total tax collected on distilled spirits
was $92, 5i6,999, on manufactured tobacco
$50, 230,522 and on fermented liquors $685.
5l5,i We exported merchandise during
the year amounting to Sl,23l 1890. an in
crease of slSO,4SS,H4 from the preceding
year. 1t is estimated upon the basis OF
present revenue laws that the receipts of
The government for the year, ending June
lures $6s9, @iG47, resulting in deficiency
of $l12,OOO,VCO
Gold In the Treasury.
On the 1st of December, 1898, there was
to $13S,44l5i7. gold bullion amounting to
$l3S, 502 5iJ, silver bullion amounting to
500, 359, $50. and other forms of money
Amounting to 1851 1868 ISL. On the same date
culation or not included in treasury hold
ings, was 81 ,S56,S79JO4 an increase for the
year OF Sl65, 79l.966. Estimating our popu.
lation at 75l94,0C0 at the time mentioned
the per capita circulation was 5000. ON
the same date there was in the treasury
gold bullion amounting to 3S,N2,5i1.
The provision made for Strengthening
the resources of the treasury in connection
with the war has given Increased conii-
dence in the purpose and power OF the gov
eminent to maintain the present standard.
and has established more firmly than ever
the national credit at home and abroad. A
marked evidence of this Is found in the In
HAty nfs rp1l IN hn frnn "a a on
holdings on November |, 1898. were Szo9, $780,
100 as compared with $153,573lH on Novem-
Der l, 1897, and an Increase of net cash OF
S207. 756,1OO, November ], 1897 to S3OO, 10
November /, 1898 The present ratio of net
treasury gold outstanding government LA
bilities, including United States treasury
notes of 1890, silver certificates, currency
certificates, standard silver dollars, and
silver coin, November /, 1898, was 25.35 per
cent as compared with 1896 per cent. No
vember !. 1897
Recommendation Renewed.
l renew so much of my recommendation
of December, 1897, as follows: That
when any of the United States notes are
presented for redemption in gold and are
redeemed in gold, such notes shall be kept
ard set apart and only paid out In exchange
for gold. This is an obvious duty. II
the holder Of the United States note pre-
fers the gold and gets II from the govern
ment. he should not receive back from
the government a United States note with
out paying geld in exchange for It, The
parent when the government issues an In
tcrest- bearing debt to provide gold for the
redemption of United States notes-a nom
debt. Surely II should not
pay them out again except on demand and
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
another interest-bearing debt to re-
deem a non-in terest-b debt" This
Recommendation was made In the belief
that such provisions of law would insure
= a greater degree the safety of the pres
ont standard and better protect our cur
rency from the dangers to which IL Is
subjected from. disturbance in the gen
eral business conditions of the country.
other Currency Legislation Needed
In my judgment the present condition of
the treasury amply justih1s ;ba immedi-
ate enactment of the leg'slatio' RECON-
mended one year ago, unde which a por-
tion of the gold holdings shoul ne placed
in a trust fund from which greenbacks
should be redeemed upon presentation, but
when once redeemed should not thereafter
be paid out except for gold IL iS not TO
be inferred that other legislation relating
to our currency Is not required: on the
contrary there is an obvious demand for
II. The importance OF ADEQUATE provision
which Will insure to our future a money
related as our money standard
now and TO that OF our commercial rivals
Is generally recognized. The companion
that our domestic paper cur
lated to the needs OF our Industries and
internal commerce as TO be adequate and
responsive TO such needs IS proposition
scarcely less important The subject in all
Its parts, Is commended TO the wise con-
sideration of the congress