The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-18
Joint High Commission Planning to
dian and Yankee Fishermen.
NO CHANCE FOR RECIPROCITY
UNLESS THE PREFERENTIAL Al
LOWED BRITAIN is WIPED OUT.
Chairman Cannon Preparing to Be-
gin Work ON the Appropriation
BiIIs-Mr. TOIbert's Case.
Special to the indianapolis Journal.

Special to the Indianapolis Journal.
WASHINGTON, Nov. 17.-Official statis-
tics of the Treasury Department show that
the Dingley law has been yielding revenue
for the last ten months at the rate of $780,
Co., 600 to $365 900, 600 a year, an amount which
in normal times would be sufficient to de-
fray the running expenses of the govern
ment. The law was framed for normal
times and would serve it's main purpose but
for the war. 1t is therefore not failure as
revenue measure, as Democratic newspa-
pers and speakers have been steadily in
sisting for many months until the state
ment has been generally accepted as true.
1t falls below expectations in that it has
not produced sufficient revenue to create a
surplus, but it is nevertheless putting the
treasury on a self-sustaining basis. The
war tax law is producing at the rate of $780,
OOOOO month, or $120,000,000 a year. Thus
the combined revenue from both laws is at
the rate of $4s0OO0,0OO to $4S5, 100000 a year.
The estimated revenue for next year is
$SO0,OOO,O00 exclusive of the Postofice De-
partment, with it's annual business of $780,
100000.
The importations Of gold in the year
1898 are by far the largest in the his
tory of the country, and the expectations
duction of gold from our own mines will
prove the largest in many years, if not the
largest in the history of the country. The
October statement of imports and exports,
just issued by the Treasury Bureau of Sta
tistics. shows that the total imports of gold
in the ten months ending Oct. 81 are Sl4S,-
65S095, which is more than so per cent. in
excess of the amount imported in the cor
responding period of any preceding year.
The exports during that time have been but
$l4,O61, ,S49, which is less than in the corre-
spending months of any preceding year for
more than a decade. This gives the enor-
nous balance of $129, ,596 246 of gold importa-
tions in excess of gold expectations. This
unprecedented flow of gold into the United
States is accounted for, in part at least, by
the enormous balance of trade in our favor
which the ten months of the year afford
In those ten months the total imports of
merchandise amounted to but $527, ,757, ,554,
while the total export was $9S7, ,964 $50, a
balance of trade in our favor of $46O, ,2O6, SOP.
The total exports of merchandise for the
month of October, 1898, amounted to $11S,-
6S6 232, a sum larger than in any preceding
October in the history of the country, the
figures for October, 1897 being Sill, ,744,517,
and those for October 1896, 1856, $50.
The enormous importation of gold in ex-
cess Of the expectation of this article is
plainly perceptible in the increased circula-
tion shown by the figures of the Treasury
Department The latest statement of the
gold in the treasury shows a gold balance
of $242, S05, ,604, while the gold in circulation
on Nov. l was $649 ,S46 727, being $110, 900
greater than on Nov. l of last year, and
nearly $3.50, 10000 more than on July l, 1896,
in which month it touched it's lowest point in
several years.
The total money in circulation at the be-
ginning of the present month is shown by
the treasury figures to have been 81, ,S66 575,-
1872, against 81, ,7O6, 732, 1904 at the correspond
ing date last year, and $780, 725, 200 on July
/, 1896, the increase in circulation in the
past year having been $159. S42,S7S, and since
.llIlv / lXo6 $3.50 X.0 5S2