Evening journal., 1900-12-03
THE EVENING JOURNAL. MONDAY DECEMBER 1900

the surplus revenues for the fiscal year
ended June 30, 1900 were $40, ,52T 06O.1S. |
For the six preceding years we had only
deficits. the aggregate Of which from
1894 10 1890, inclusive. amounted to
S2S3 O22, ,991.14. The receipts for the
year from all sources. exclusive of postal
revenues. aggregated S567 ,24O. .S51 80 and
expenditures for all purposes. except for
the administration of the postal depart
mcnt aggregated SiS7,7l3,7 791.7l. The
receipts from customs were S233, ,164,
SIl.l6. an increase over the preceding
/ year of S27 ,O36,3S9.41. The receipts
from internal revenue were S295, 5,327,
/ 926.I6, an increase Of S21 800, 1925
over 1899. The receipts from miscel
laneous sources were .$3S, 14S.0 .0J3.97 as
against S36,394,9 ,97G02 for the previous
year.
1t is gratifying also to note that during
the year considerable reduction is
shown in the expenditures Of the govern
ment. The war department expenditures
for the fiscal year 1900 were S134.774.-
i6IIS. a reduction OF S95.O6G. 1860 over
those Of 1899 In the navy department
the expenditures were S55 G77.72 for
the year 1900 as against S63 042. 104 %
Tor the preceding year. decrease Of ST.
9S9O2b.J3. In the expenditures on ac-
count Of Indians there was decrease in
1900 over 1899 Of 81. ,G043S. and in
the civil and miscellaneous expenses for
1900 there was a reduction of S13,41S.-
O65.T4
Because OF the excess Of revenues over
expenditures the secretary OF the treas
ury was enabled to apply bonds and 9TH
er securities to the sinking fund TO the
amount OF S56.544556.O6. The details
OF the sinking fund are set forth in the
report of the secretary Of the treasury,
TO which ! invite attention. The secre-
tary of the treasury estimates that the
receipts for the current fiscal year will
aggregate SjS0,OO0,O0O and the expendi-
lures S5O0OOO,0OO, leaving an excess Of
revenues over expenditures OF SS0OOO,-
600. The present condition of the treas
ury is one of undoubted strength The
available cash balance Nov. 30 was Sl39.-
303, 194jO. Under the form OF statement
prior to the financial law of March II
last there would have been included in
the statement of available cash gold coin
and bullion held for the redemption of
United States notes.
If this form were pursued, the cash
balance, including the present gold re-
serve Of $l5O,OOOOO0, would be S2S9..
3O3, 1880. Such balance Nov 30 1880
was S206 49J, ,3O1 %. In the general
fund, which is wholly separate from the
reserve and, trust funds. there was on
! Nov. 30, S7O.O0OOT3.1J in gold coin and
: bullion, to which should be added SD
= 957 300 in gold certificates subject to is
sue. against which there are held in tn,
division OF redemption gold coin and bul
liOn making a total holding of free GOLD
amounting TO S93,047 ,37315.
II will be the duty as am sure it viii
, be the disposition of the congress to pro
!, vide whatever further legislation is need
! ed to insure the continued parity undei
! all conditions between our two forms Of
. metallic money, silver and gold.
!. Financial Act of 1900.
), The beneficial effect Of the financial ac
a Of 1900, so far as it relates to 70 modifica
n tion Of the national banking act. is al
@ ready apparent. The provision for tn
/. Incorporation of national banks with
h capital of not less than $4,000 in place
Il not exceeding 1900 inhabitants has re
h suited in the extension of banking facili
# ties 20 many small communities hithert
NJ unable TO provide themselves with bank
l. ing institutions under the national sys
tem There were organized from tn
q enactment Of the law up TO and including
]
r were with capital less than $4,000 ant
e 1O3 with capital Of $4,000 or more
n Our foreign trade shows a rcmarkabl
n record Of commercial and industrial prog
g ress. The total Of imports and export
p for the first time in the history of tn
country exceeded S20O0.O0O.0O0 Th
e exports are greater than they have eve
N boen before the total for the fiscal yea
a 1900 being 81 .394 4S3.OS2. an increas
N over 1899 of St67, ,t59 $50. an increas
D. over 1898 OF S1G30OO,I52, over 1907 q
S3i3. .4S9 52B and greater than in 1896 b
le $5l1 1,S76.144.
~ The growth Of manufactures in th
IN United States is evidenced by the fac
N that exports OF manufactured product
he largely exceed those of any previou
D. year their value for 1900 being S433
S5i,T56, against $3.50, 502, lag in 1899. a
r. increase Of % per cent.
it Agricultural products were also e.
T. ported during 1900 In greater volum
& than in 1890 the total for the year helm
lc SS}5, ,S5S, 1913, against S7SL7T6,142
10 1899.
NJ The imports for the year amounted
al $50. .1SA an increase over 1899
S152. 792 G95 This increase is largely
c. materials for manufacture and is in r.
- NilNhof Ah iNt NHlN ANN NNF''inANhA VI mann
le featuring in the United States.
N recommend that the congress at &
n present session reduce the internal re-
nt cnue taxes imposed 10 meet the expense
u Of the war with Spain in the sum OF S3C
ln 100000 This reduction should be $
cured by the remission OF those tax
n which experience has shown to be Il
or most hurdcnsome 20 the industries of q
u people.
io I specially urge that there he include
IS In whatever reduction Is made the lega,
ad tax hcquests for public uses Of a literar
lg educational or charitable character.
The Merchant Marine.
az American vessels during the past thr
- years have carried about q per cent Z
our exports and imports. Foreign shi
y shouli carry the least. not the creates
W part Of American trade. Tie remark
~ bic growth Of our steel industries. Il
"' progress of shipbuilding for the domest
~ trade and our steadily maintained Q
~ penditures for the navy have created
opportunity 10 place the United States