The Irish standard., 1900-12-08
II ................s2 1854, ,026, ,23O 1881, ,6l3, ,26s
Reduction of Revenue.

In regard to the reduction of the war
tax revenue the secretary says:
From the estimates of receipts and ex-
penditures for the fiscal year 1902 there
promises to be an excess of receipts to
the amount of $2G.O0O.OOO.
The operation of the act of February
25 1862, providing for sinking fund, con-
templates the payment or purchase and
cancellation of substantially $500 900 an
nually of our interest-bearing debt obli-
gat.ons. 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 the
contrary, it may be safely assumed that
1t is the desire of congress to observe
faithfully the general requirements of
the sinking fund act and to provide rev.
enue sufficient to meet the charges thus
Imposed upon the government. The pres
ent and prospective easy condition of the
treasury justifes the belief that the sink
ing fund requirement can be met, both
for the current fiscal year and for the
next fiscal year, and still permit a mod
crate reduction in taxes imposed by the
War-revenue act. A reduction to the
amount of $50. 100000 is therefore recon-
mended to the consideration of the pres
ent congress.
Gold Reserve.
The treasurer calls attention to the
marked irregularity in the receipts and
expenditures, pointing out that while in
July. 1899. there was a deficiency of $S,-
5oe $50 Is. in June. 1900. surplus of s17.-
S9o.15S.S6 was realized. The greatest diff
ference between income and outgo on any
one day was a,047, $4,000 in favor of the
treasury. The corresponding maximum
deficiency was s2,31S,621.42. In the face Of
such wide fluctuations the necessity for
ample available reserves is apparent, and
the treasurer names $50. 100000 as proper
sum to keep in the government vaults.
Public Moneys.
The monetary transactions of the gov
ernment have been conducted through
the treasurer of the United States, nine
suhtreasury officers. and 444 national
bank depositaries The amount of pub
lie moneys held by the bank depositaries
on June 80, 1900, including funds to the
credit of the treasurer's general account
and United States disbursing officers, was
SOS. S0G.93 an increase since June 30,
1889, in amount of holdings of So, Asa, 151.-
GS. In every state except Mississippi and
Nevada. and in every territory except
Arizona and the Indian territory. deposit
taries were designated. While the sur
plus permitted, every applicant, wherever
located, offering the necessary bonds re-
ceived the share Of deposits desired.
Foreign Commerce.
The imports of the year were $S49, ,941,
1854. against s697, Jas, ,4S9 in 1899, an increase
of s152. Cos. The total exports of the
year were valued at 81 1894, ,4s3, 1882, of which
$3.50, ,5H were of domestic production.
Our commerce with the island terri
tories which have been brought into
closer relationship with the United States
by the events of the past two years also
shows a rapid growth, despite the fact
that in Cuba and the Philippines produc-
tion and consequently purchasing power
have been partially interrupted by war
conditions.
ImmiS SratiOn.
The commissioner general of irnmlgra-
tion. in the annual report of the opera
tions of his bureau for the fiscal year
ended June 30, 1900, submits tabulated
statements showing the arrival in this
country during that period of 44S.572 alien
immigrants. 425,S72 through ports of the
United States and 200 through Canada.
OF these, 304. 14s were males and 144.4A fe-