Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1900-12-12
FIGURES ON FINANCE.
Secretary of the Treasury Gage De.
Hvers His Annual Report
to the House.

Washington Dec. 5-Secretary Lyman
J. Gage in his annual report of the treas
| ury department delivered to the house OF
| representatives Tuesday shows the total
| government receipts for the year from all
sources to have been 1869, 595, 431 IS; total
expenditures, $500, 06S,371; giving a surplus
| of SIS, 527, 06018 AS compared with the fis-
cal year 1885, the receipts for 1900 show an
increase of $5S, 613, 1858; with decreased ex-
penditures for the same period of $H795
aSS14
The revenues Of the government for the
current fiscal year are estimated at $751;
773, 253. 90. The expenditures for the same
period are estimated at $607 773, 1882. For
the fiscal year 1902 the estimates are as
follows: Total revenues, $716, ,O42; total
estimated appropriations, $500, 374 S04.N
In regard to the reduc+ On Of the war
tax revenue the secretary says:
From the estimates of receipts and eX-
penditures for the fiscal year l9O2 there
promises to be an excess of receipts TO
the amount of $26 100000
The operation of the act of February
Is, 1862, providing for sinking fund, con-
templates the payment or purchase ana
cancellation of substantially $50, OO0, O0O an
nually of our Understanding debt obli-
galIons. Owing to the unfavorable con-
ditions in the treasury during the SIX
years from 1894 to 1899, the sinking fund
was entirely neglected.
In the absence Of any expression to tho
contrary, it may be safely assumed that
It is the desire of congress to observe
faithfully the general requirements of the
sinking fund act, and to provide revenue
sufficient to meet the charges thus i'm
posed upon the government. The present
and prospective easy condition Of the treas
ury justifies the belief that the sinking
fund requirement can be met, both for
the current fiscal year and for the next
fiscal year. and still permit moderate
reduction in taxes imposed by the war
revenue act A reduction to the amount
of $50, 900, 600 is therefore recommended to
the consideration of the present congress.
The treasurer calls attenHOn to the
marked irregularity in the receipts and
expenditures. pointing out that While IN
July, 1892 there was a deficiency OF $S,-
SOC, S32 2S in June, 1900, a surplus of ST.
$50, 1886 was realized. The greatest diff
ference between income and outgo on any
one day was S4,047, .05 in favor Of the
treasury The corresponding maximum
deficiency was 231S, 621. AZ. In the face OF
such wide fluctuations the necessity for
ample available reserves is apparent, ana
the treasurer names $5O0OO,OCO as proper
sum to keep in the government vaults.
The monetary transactions of the gov
eminent have been conducted through the
treasurer of the United States, nine sub
treasury officers, and 444 national bank
depositaries. The amount of public mon
80 1906, including funds to the credit of
the treasurer's general account and United
States disbursing officers, was $9S, 1916, SO693
an Increase since June 30, 1899, in amount
of holdings of 500 Asa, Isl SO. In every state
except Mississippi and Nevada, and in
every territory except Arizona and the
Indian territory, lepostaries were desig-
mated. While the surplus permitted, every
applicant, wherever located, offering the
necessary bonds received the share of de-
posts desired
The imports Of the year were $S49 941 1884,
against $685., las, 499 in 1885, an increase of
s152, 1872 $685. The total exports Of the year
were valued at 81, 1894, 4S3, 0S2, Of which ST.
$40, 1853 ST. were of domestic production.
Our commerce with the islandi territories
which have been brought into closer re-
lationship with the United States by the
events of the past two years also shows
rapid growth, despite the fact that in
Cuba and the Philippines production and
consequently purchasing power have been
partially interrupted by war conditions.