The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1900-12-15
FIGURES ON FINANCE.
Secretary of the Treasury Gage De-
livers His Annual Report
to the House.

Washington. Dec. G-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 $669. 595 ,43l.1S; total
expenditures. $3.50 loss. 81: giving surplus
of 1857 O60.1S. AS compared with the ifs
cal year 1899, the receipts for 1900 show an
Increase of SIS. 6l3. SO; with decreased ex-
penditures for the same period of $ll7 .SSS,-
SSS.14
The revenues of the government for the
current fiscal year are estimated at $6SI-
773. 1892 The expenditures for the same
period are estimated at 500. 773, 1882. For
the fiscal year 1902 the estimates are as
follows: Total revenues, SIT. 633, 042; total
estimated appropriations, $3.50, S74, SO4A
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 s26.0O00O0.
The operation of the act of February
rs. 1862 providing for sinking fund, con-
templates the payment or purchase ana
cancellation of substantially 900 an
nually Of our interest, bearing debt obii-
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 the
contrary, 1t may be safely assumed that
II 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
eft n
reduction in taxes imposed by the war
revenue act. A reduction to the amount
of SO, 00O.0 900 is therefore recommended TO
the consideration of the present congress.
The treasurer calls attention to the
marked irregularity In the receipts ana
expenditures. pointing out that while In
July. 1899. there was deficiency OF Vs.
sos %. in June. 1900. surplus of Sl7.-
S95 $3.50 was realized. The greatest DIFF
ference between income and outgo on any
one day was A,047, 96,05 In favor OF the
treasury. The corresponding maximum
deficiency was 81, ,621. A. In the face or
such wide fluctuations the necessity for
ample available reserves Is apparent ana
the treasurer names $50. 000. 600 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 "a national bank
depositaries. The amount of public mon
eys held by the bank depositaries on June
30, 1900 including funds to the credit or
the treasurer's general account and United
States disbursing officers, was SOS, 1861 81,
an increase since June 30, 1885, In amount
of holdings of 500. 453 15l.63. In every state
except Mississippi and Nevada, and In
every territory except Arizona and tie
Indian territory depositaries were desig-
mated. While the surplus permitted, every
applicant, wherever located, offering the
necessary bonds received the share of de-
posits desired.
The imports of the year were ss49, 94l 1874.
against $697. AS, 400 In 1899. an increase OF
sl52, 792, 695. The total exports of the year
were valued at 81. 1894. ass, 0S2, of which ST.
$40, 763, 81 were of domestic production.
Our commerce with the island territories
which have been brought into closer re-
lationship 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 production and
consequently purchasing power have been
partially interrupted by war conditions.