Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1899-12-07

Or surplus of 40 900. 600
Upon the basis of existing laws the rev.
enues of government for the fiscal year
ending June 3O 1901, are estimated at $685.
T7S, ,25S.92. The estimates of appropriations
required for the same period, as submitted
by the several executive departments and
offices amount to $685. $50, AS. 7S, leaving an
estimated deficit, in case congress makes
all appropriations asked for, OF $lS,0SO, l94.S6
The report says:
The transactions of the fiscal year. shown by
the report of the of the United States
OF unusual magnitude the net ordinary receipts hav
ing been exceeded in like period only once. in
1866. and the net ordinary expenditures only thrice
in 1863 1854 and 1865. Inclusive Of the amounts in
volved in the issue and redemption of bonds notes
ana 81 @ M tne gross @ .s
22.14S.S3. There was in consequence, an addition
Of ss2 22s s5 to the general treasury balance.
which increased from 36S1 to 1861 $50 46
The treasury officers handled than 81 900 900
in receipts during the year.
While there was a deficiency of SIS, III. .559.67 in
the ordinary revenues. the excess of receipts over
disbursements account of loans was sufficient to
realize net surplus of $780, 791 35 as the result
of the fiscal operations of the year. This substan-
tal addition to the available together with
the steady advance Of the receipts from taxation to
an actual excess current needs has relieved the
treasury Of all danger of difficulty from sudden
geney. Nor was the growth of the available cash
balance. which stood at $2s4 5I620 at the close
Of the year. more wholesome than the improvement
in the character Of the assets. which convert
ed into gold as far as statutory and other limita-
tions would permit
The receipt of the proceeds of the loan
tended from June 1885, to April. 1899. although the
bulk of the subscriptions fully paid within the
first four months or the total Of nearly 5000 900 0o0
no less than upward of S125 900 was remtted by
means OF checks banks in all parts OF the country,
which were collected through the Washington office.
This fact with the further circumstance that the
remainder, which was paid in cash into the Offices
of the treasury was divided among them very nearly
in proportion to their ordinary business shows how
evenly the whole country was represented In the sub
scriptions Although the department made no pref
erence of ene kind OF money another. the ten
ders Of gold exceeded those of any form of paper
and nfadf han, y,trdo of al
payments
The receipts of the internal revenue de-
partment show, as usual, the largest re-
ceipts from distilled and fermented spir-
its: For the fiscal year ending June 80.
| 1899, the revenues of the department from
| all sources were s2l3 34S4,5l34, gain of
sl02, ,sl7. i54.OS over the fiscal year Of 1898.
The secretary recommends that the
| mints at San Francisco and New Orleans
| be permitted to coin scent nickel and l.
cent bronze pieces to supply the demand
| for such coin from nearby states and ter
| ritories. He also says:
The present mint facilities inadequate to meet
| the demands OF the country The stock of gold
bullion hand has been increasing throughout the
year. because the metal could not with the present
| equipment. be coined as fast as received although
| at New Orleans and Philadelphia operations were
conducted overtime during large part of the year.
The deposits of gold growing annually. and the
| demand for subsidiary and minor coin is unpre-
cedented 1t is. therefore, recommended that ap-
preparation Of $40 900 be made for the purpose Of
improving the equipment Of the mint at Philadelphia.
| -Ihe secretary strongly 1dVOFS the aQOp-
| tion of the metric system. He says:
The acquisition Of the Philippines and Porto Rico
the more intimate relations into which We have en-
tered with Cuba. the desire to extend our commerce
| with Mexico and Central and South America. in ali
of which countries the metric system has been estab
lshed induces the secretary to call to the attention
congress at this time the desirability OF reform
| in our system of weights and measures.
| The attention Of this department has been called
| to circular issued last April by the American
chamber Of commerce Paris. expresses the hope
that the metric system Will soon be adopted in the
Paris the circular points the great disadvantage
of not using the metric system, and says that ex-
perience at former exposons has shown that buyers
are deferred by complicated calculations from even
| examining and comparing samples and prices OF
American exhibits with those from other countries
| The intense commercial rivalry of nations warns
US to leave nothing undone which might further our
| own interests and there can be no doubt that the
| introduction Of the metric system, to which this
country stands pledged since the meeting of the in
ternatonal American conference in $780, would great
Iy facilitate international commercial transactions.
without doubt, Great Britain and Russia would fol-
low the initiative Of this country in this matter
In discussing the reform of currency the
secretary says:
| The state of the treasury exhibits q degree o.
financial strength before equaled 1t places th'
government in position, more favorable than ha!
before existed to take any steps congress may con
slider wise toward inaugurating needful improve
ments in the currency or judcious modification:
| in the banking laws There are two points to which
public attention has long been directed and upor
which legislative action has been earnestly desired
These are, first, the money standard. and, second
better adaptation Of our currency system to the
quirements of expanding trade and industry.
First, to the money standard. 1t is now, ent
for many years has been. the standard by which th
values of all commodities whether foreign do
mestic. have been measured declared. 1t is tn,
standard to which reference has been had in all
tracts undertakings involving the future paymen
Of money.
The future needs only the assurance that 1t will ST
so continue to be- until at least the people shall b.
SO united in their desire for q change therein as Il
be able to direct the voice OF both houses of con
gress. and secure the approving signature of th
chief executive. 1t is evident that direct and ef