The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1900-12-04


continues to discharge. with the happiest
results, the important work of promoting
cordial relations between the United
States and the Latin-American countries.
all Of which are now active members OF
the International Union. The Bureau
has been instrumental in bringing about
the agreement for another international
American congress, which Is to meet IN
the City OF Mexico in October. 1901.
The Bureaus future for another term OF
ten years Is assured by the International
compact, but the congress viii doubtless
have much to do with shaping new lites
of work and a general policy. Its use
fulness to the interests Of lsatin-Amer-
lean trade 10 widely appreciated and
shows a gratifying development.
The practical utility of the consular
service in obtaining a wide range OF tn
formation as to the industries and COM
meree of other countries and the oppor-
tunities thereby afforded for Introducing
the sale of our goods have kept STEADILY
In advance of the notable expansion OF
our foreign trade, and abundant evidence
has been furnished, both Mt home and
abroad, of the fact that the Consular Re
ports. including many from our diplomat
ic representatives, have TO a considerable
extent pointed ont ways and means OF
disposing of great variety of manufac-
tured goods which otherwise might not
have found sale abroad.
Testimony of foreign observers to the
commercial efficiency of the consular
corps seems to be conclusive, and our
own manufacturers and exporters highly
appreciate the value of the services rem
dered not only in the printed reports but
also in the individual efforts of consular
officers to promote American trade. An
increasing part of the work of the Bu-
reau of Foreign Commerce, whose pri-
mary duty 1t is to compile and print the
reports, is to answer inquiries from trade
organizations, business houses, etc, as
to conditions in various parts OF the
world, and, Notwithstanding the small
ness of the force employed, the work has
been so systematized that responses are
made with such promptitude and accu-
racy as to elicit fattering encomiums
The experiment of printing the Consular
Reports daily for immediate use by trade
bodies. exporters, and the press. which
was begun in january, 1898, continues
to give general satisfaction.
1t is gratifying to be able to state that
the surplus revenues for the fiscal yeaI
ended June 80, 1900, were $40, 527 ,060..
IS. For the six preceding years we had
only deficits, the aggregate of which from
1894 to 1909, inclusive, amounted to
$3.50, 022, 99f.14. The receipts for the
year from all sources, exclusive of postal
revenues, aggregated 1851, 240, 81 80,
and expenditures for all purposes, ex.
cept for the administration of the postal
department, aggregated $4S7, T13, 791.n
The receipts from customs were $685.
164,S71 49, an increase over the proceed.
ing year of $27, 036. 3S9.41. The receipts
from internal revenue were $295,32T,.
92676, an increase of S21 $50, % over
1892 The receipts from miscellaneous
sources were S3S, 74S, 1853. 97, as against
$50. 394, 1862 for the previous year.
1t is gratifying also to note that dur.
ing the year a considerable reduction is
shown in the expenditures of the Gov
eminent The War Department expend-
lures for the fiscal year 1900 were
$134,T74 1918. a reduction of S95,066,-
1860 over those of 1899. In the Navy
Department the expenditures were 500,
953,0TT.72 for the yeaE 1900, as against
S63, 942. 10425 for the preceding year, a
decrease of $T.9S9, 026.53. In the expend-
itures on account of Indians there was
a decrease in 1900 over 1899 of 81, $780,
604 3S; and in the civil and miscellaneous
expenses for 1900 there was a reduction
of $13, 41S, 005.74.
Because of the excess Of revenues oven
expenditures the Secretary of the Treas
ury was enabled TO apply bonds and other
securities to the sinking fund to the
amount of 500, ga ,556.06. The details OF
the sinking fund are set forth in the re-
port of the Secretary of the Treasury, to
which / invite attention. The Secretary
of the Treasury estimates that the re-
ceipts for the current fiscal year will ag-
gregate $3.50, 900, 900 and the expendi-
lures $500,000,000. leaving an excess of
revenues over expenditures of $4,000,
600. The present condition of the Treas
ury Is one of undoubted strength. The
available cash balance November 80 was
$139, 1903, 1880. Under the form of
statement prior to the financial law of
March Ii last there would have been in
cluded in the statement OF available cash
gold coin and bullion held for the redemp.
ton of United States notes.
If this form were pursued the cash bal.
ance, including the present gold reserve
of $3.50, 900 900, would be $3.50, 1903, 1914. so.
Such balance November 80, 1899, was
$296, 495, 301.55. In the general fund.
which is wholly separate from the re-
serve and trust funds, there was on No
vember 80, $70,090, 073.15 in gold coin
and bullion, to which should be added
500, 957 800 in gold certificates subject to
issue, against which there is held in the
Division of Redemption gold coin and
bullion, making a total holding Of free
gold amounting to 500. 047, 373.15.
1t viii be the duty as / am sure II will
be the disposition of the Congress to pro-
vide whatever further legislation is need
ed to insure the continued parity under
all conditions between our two forms OF
metallic money. silver and gold.
Our surplus revenues have permitted
the Secretary of the Treasury since the
close of the fiscal year to call in the fund
ed loan of 1891 continued at per cent,
In the sum of 1884. 800 To and in
Guiding November 80, $23, ass, 100 of
these bonds have been paid. This sum-,
together with the amount which may se-
crue from further redemptions under the
call, win be applied TO the sinking fund.
The law of March "A, 1900, provided