Cameron County press. [volume] (Emporium, Cameron County, Pa.) 1866-1922, 1900-12-13
OUR NATION PROSPEROUS.
Substantial Evidence of the Supe-
riOrity of IA Republican
Admin NJ ration.


average person, but they sometimes
convey information that is of great
public value. The annual report of
the treasurer of the United States,
which has just been given to the press,
furnishes news of this character. 1t
shows in condensed and accurate form
the fiscal operations of the govern
ment and is in a sense the national BAD
ance sheet, indicating how the country
stands in its financial dealings.
1t appears from the treasurer's re-
port that the net ordinary revenues OF
the government for the fiscal year end
ed JuNe 30, 1900, were S567,24O, S52.
This is the largest sum ever received,
exceeding even the figures of 1866,
which represented the high water
mark of receipts and expenditures due
to the civil war that had just closed.
But il is not to be forgotten that this
amount of money is more easily OBJ
tainable than was less sum "a years
ago. The nation is about twice as large
and many times richer. Though the
present war tax" like all war taxes,
10 not agreeable to the people it does
not represent any of the actual hard
ship endured by them in supporting
the government when engaged in a
fight for it's existence.
The big receipts of the last fiscal year
were largely in excess of current needs,
and as a consequence there was a sur
plus of $79,527,060. or nearly double the
amount estimated by Secretary Gage
in his forecast of financial conditions.
This helps to prove the effectiveness
of the governments collecting methods
and the readiness with which the du-
ties and revenue taxes are paid. And
it may be remarked that it is in strill-
ing contrast with the conditions exist
ing four years ago. when with depict
ed treasury the gold reserve was drawn
upon for current expenditures and
bond sales were resorted to in order
to restore the stock of precious metal.
4 glance at the present plethora en-
phasizes the difference wrought under
a republican administration.
An important feature of the report is
the showing ii makes of the saving ef-
fected by the refunding of bonds under
the new law known as the gold stand
art act. In this way - placing the
bonds at lower interest rates-there
has been a net saving of $s,604,317.
Other facts are of much interest. The
amount of money in circulation Oc-
tober 1. 1900, was 50, 113 ,294 9S3. and the
| per capita circulation on that date was
| $27O1. The per capita in gold is $1,000,
| which is greater than that of all the
currency in 1862, while the total of
gold is greater than all the circulation
at any time before July, 1879. There
is more money in circulation per capita
| to-day than ever before in our financial
| history. Treasury transactions show
a remarkable increase in gold accumu-
| lation. while more gold is being handled
in ordinary dealings than has been the
case in many years. The gold stand
ard has been strengthened, and no one
now doubts its stability; hence the
greater readiness to use gold as cur
| rency instead of boarding it.
Lastly, the great balance in our fa-
vor in our foreign trade is most i'm
| portant factor in onr fiscal affairs. The
treasurer's report touches on it as
| showing its effect in aiding the flow
of gold to this country. But If has
been considered more at length by
others. The Philadelphia Ledger, al
| luding 10 a recent address. remarks:
1.-The trade balance as a feature of our
| prosperity was the subject of an important
paper read at the July meeting of the
| Pennsylvania bankers by Assistant Secre-
| tary of the Treasury Vanderlip. From his
flfn hi Il I,af fFr V1NE
| fiscal year ended June 80. 1900. the value of
our exports was $1.4O0 600. a gain of
| Sl73, OO0.000 for the year. All Industries rep
| resented in the foreign trade participated
| In this increased. expectation. During the
! last four years there was total balance
| in our favor of exports over imports Of
! $3.50 0O0,000 and this. Mr.. Vanderlip exult-
| ingly declared, SIS more than five times tho
| balance in our favor during the years from
| 1890 to 1886 The gold standard will also be
REINFORCED by the increased production of
! the mines. Mr.. Vanderip said the esti-
mated gold production the world over for
| 1899 was 1915. 0000 600. half of which is to be
credited to 1900 This is an increase of $2S,-
| 100000 over the production of 1898 The re-
| sumption of mining operations in South Af-
rica will very materially increase the out
put
Now that we are permanently on a
gold basis, it is satisfactory to know
that the basis is growing broader and
stronger.-Troy Times.
u Many of the democrats who hope
for reorganization of their party
are turning to the south for inspira-
tion and leadership. This was the old
democratic wey. The party marched
and moved to the snap of the slave
| drivers whip. 1t ought to know bet
ter, but apparently it does not. OF
| late years the southern democracy has
been noted chiefly for its infatuation
for cheap money. including free silver,
and for robbing republicans of the
franchise by fraud and violence. If
the democratic party thinks its for
tunes will be improved by a servile
surrender to such influences it will
make as big a mistake as it did when