The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1898-12-10
our FINANCES.
Interesting Figures Regarding Rev
ennes md ExpcndItures.

cnues ana expenditures.
The secretary OF the treasury reports
that the receipts OF the government from
all sources during the fiscal year ended
from sale or Pacific railroads, ammounted
to Si05. 32l ,335 and its expenditures 20 S4i3,
GGS 5S2 There was collected from cus-
toms Sl49.515o62 and from internal revenue
Sl70,900,6il Our dutiable imports amount
cd TO S32i.7aJ.419, a decrease OF SJS,l56,6ge
over the preceding year. and importations
free OF duty amounted TO s-9l, iliN5. de-
crease from the preceding year OF $40,
62i,O6S Internal revenue receipts exceeded
those of the preceding year by $2l.2l2 ,o6N
The total tax collected on distilled spirits
was So, bi6,Jg9 on manufactured tobacco
S36.230. 522, and on fermcntcd liquors S39,-
5i5,42l. We exported merchandise during
the year amounting 20 NzSl fS2, $780, an in-
crease of $3.50, 1914 from the preceding
year IL IA estimated upon the basis OF
present revenue laws that the receipts OF
so. 1889. Will be $5l7,S14,G91 and It's cXpcndi-
lures $3.50 ,MH,df, resulting IN deficiency
of $ll20Ol,O00
Gold In the Treasury.
on the 1st OF December. 1888, there was
held I'm the treasury gold coin amounting
TO Sl3S al 5i7 gold bullion amounting 20
$l8S, 5o2,64l, silver bullion amounting 70
S9385g $50. and other forms OF money
the amount OF money OF oil kinds in cir-
culation or not included I'm treasury hold
ings, was $l,S36.S79.5Oi, an increase for the
year or ylg5.7gl.9J6. Estimating our popu-
lation at 75.l9s. 600 at the time mentioned
the per capita circulation was Szo.Oa on
the same date there was IN the treasury
gold bullion amounting 10 $685. V2.5fO
The provision made for strengthening
the resources or the treasury In connection
with tho war has given Increased conii-
dcnce In the purpose ana power OF the gov
eminent TO maintain the present standard.
and has established more firmly than ever
the national credit AZ home aud abroad A
marked evidence OF this ~ found In the In
flow OF gold 10 the treasury. It's net gold
holdings on November !. 1898. were $50. $50
100 as compared with Si53,5l3lH on NoVem-
Der 1, 1897, and an increase OF net cash OF
s207. 75G 100. November /, 1897 20 $500. 23S275
November l. 1898 The present ratio OF net
treasury gold outstanding government lia-
bilities, including United states treasury
notes OF 1890. silver certificates, currency
certificates, standard silver dollars, and
silver coin, November ], 1925, was 1000 per
cent. as compared with 1886 per cent. Mo-
Recomme dalton Renewed.
renew SO much Of my accommodation
OF December, 1871 as follows. That
when any or the United states notes are
presented for redemption IN sold and are
redeemed IA gold, such notes shall be Kept
and 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 Il from the govern
meut. he should not receive back from
tie government United States note with
out paying fOiu IN eAcnAHBe Tor II. Inc
reason for this u made ali the more APP
parent when the government Issues an In
tcrcst-bcaring debt 10 provide gold for the
redemption OF United States notcs--a nom
interest -bcaring debt. Surely IL should not
pay them out again except on demand and
Tor gold. If they arc put out IN any other
way they may return again, TO he followed
by another bond issue 20 redeem them
another interest-hearing debt TO re-
deem n Notwithstanding debt" This
accommodation 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
rercy from the dangers 20 which IL Is
subjected from disturbance In the gem
oral business conditions OF tho country
other Currency Legislation Needed
In my Judgment tho present condition OF
the treasury amply justin1s fba immedl-
mcndcd one year ago, undo wh.ch por-
ton OF the gold holdings shOul ba placed
IN a trust fund from which grcenbacks
should bc redeemed upon presentation, but
when once redeemed ghould not thereafter
be paid out except for gold. 10 is not TO
be inferred that other legislation relating
60 our currency IN not required. on the
a. The Importance OF adequate provision
which Will insure 10 our future a money
standard related as our money standard
now and 20 that or our commercial rivals
IL generally recognized. The companion
prOpos. ION that our domestic paper cur
lated TO the needs OF our industries and
internal commerce M 90 be adequate and
responsive 10 such needs w. n proposition
scarcely less important. The subject in All
It's parta, is commended to the wise con-
sideration OF the congress