Clarke courier. [volume] (Berryville, Va.) 1869-1997, 1900-12-05

oooer tDo o1reetso0 81 0xere0t o8ctals OF
the ss6sral gsversmest. and ths various
seeiea toward the most liberal participa-
eteo In the enterprise.
TAe pres<esat dwslls on the value OF
the consular reports and then turns to
the revenues and expenditures He says:
IL 10 gratifying TO BE- able 70 state that
the surplus revenues for the 6scai year
ended June 20, 1900. were $7s. SGT .o5o. IL
For the SIX preceding years we had only
oeacits. the aggregate OF which from
1884 % 1899. inclusive. amounted to
$500. e9i-1<- The receipts for the
yeer from all sources. exclusive OF postal
revenues. aggregated 1857 .2<0. ISL Sd and
expenditures for all purposes. except for
the administration Of the postal depart
ment. aggregated t<s7 Ills. T9l.7l. Ths
receipts from customs were &233. 1884,
SsLie. an increase over the preceding
year OF $27 oS6. SS9.S1. The receipts
from internal revenue were 1895. S2T.-
szo-I6. an increase OF S21 $50. 765.2s
over 1893. The receipts from miscei-
ianeous sources were $SS, las. o6S.97 -
against 1864. 1882 for the previous
year.
IL 10 gratifying also to note that duriss
the year considerable reduction IL
shewn IN the expenditures OF the govern
ment- The war department expenditures
for the escal year 1900 were S134.774.-
Is1.IS. reduction Of sos. o66. $50 90 over
those or 1899. In the navy department.
the expenditures were 55.o53. 077.72 for
the year 1900 as against Sos 90, 104 q
for the preceding year. a decrease OF ST.
soS.O20.oS. In the expenditures on ac-
count OF Indians there was a decrease in
1900 over 1899 OF 81. CSC. eO4SS. and in
the civil and miscellaneous expenses for
lSlU there n reduction 80 H10 a1A
O6S.T4.
Because OF the excess OF revenues over
expenditures the secretary OF the treas
ury was enabled TO apply bonds and 9TH
or securities to the sinking fund 20 the
amount OF $56.544. 556.06. The details
Of the sinking fund are set forth in the
report OF the secretary OF the treasury.
20 which invite attention. The secre-
tary OF the treasury estimates that the
receipts for the current fiscal year will
aggregate $3.50. 600 900 and the expendi-
lures $500. 100000. lea wing an excess of
revenues over expenditures of $4,000
OOo- The present condition ~ the treas
ury Is one Of undoubted strength. The
available cash balance Nov 80 was $I39.-
SOS, I94.5O. Under the form OF statement
prior 10 the financial law OF March IL
last there would have been included in
the statement OF available cash gold coin
and bullion held for the red mplion OF
United States notes.
II this form were pursued the cash
balance. Including t,r present gold re-
serve OF $50. 900 lO. worLi h.. x2Sq.
303. ToI.50. Such balance Nov 20. 1S99.
was 1926. 495.3Ol.55. In the general
fund. which is wholly separate from the
reserve anu trust fund, she-e was on
Nov. 30. SIC. O9O. O13. 10 ia gold coin and
bullion. 10 which should b.. added S22.-
e5T 300 in gold certificate subject to is
sue. against which there are held in the
division OF redemption gold coin and bull
lion. making a total hol ling OF free gold
amounting TO Sa;i. O47.373. -.
II will be the duty a. l am sure il will
be the disposition or the congress TO pro-
vide whatever further legislation is need
I'd TO insure the continued parity under
all conditions between our two forms "
metallic money. silver and gold.
Financial Act OF 1000.
The benescial effect OF the financial act
Of 1900. SO fur as il relates 10 a modifica-
ton OF the national banking act. is al
ready apparent. The provision for the
Incorporation Of national banks with a
capital OF not less than SIS, 900 IN places
not exceeding 5000 inha bitants has re-
suited in the extension OF banking facili-
ties TO many small communities hitherto
unable to provide themselves with bank
ing institutions under the national sys-
tenn. There were organized from the
enactment % the law up to and including
Nov. 30 500 national banks, Of which 266
were with capital less than $4,000 and
los with capital OF $4,000 or more
Our foreign trade shows a remarkable
record OF commercial and industrial prog
ress- The total OF imports and exports
for the hrst time In the history OF the
country exceeded $4,000. 600. 900. The
exports are greater than they have ever
been before, the total for the fiscal wear
1900 being $1,394. 4S3. OS2. an increase
over 1899 OF $167. 459. 7sO. an increase
over 1898 Of $163. 900. 1872. over 1897 OF
x34S, 4S9. 526 and greater than in 1896 by
SSH. 87e. ia.
The growth Of manufactures in the
United States 10 evidenced by the fact
that exports OF manufactured products
largely exceed those OF any previous
year, their value for 1900 being $433
S51.1b6. against 1899. 500, 146 in 1899 An
Increase OF % per cent.
Agricultural products were also ex-
ported during 1900 in greater volume
than in 1899. the total for the year being
1885. SoS.l23. against 1874. 1912 in
1899.
The imports for the year amounted to
1852. I92. 605. This increase is largely in
materials for manufacture and is In re-
Spouse to the rapid development Of manu-
featuring in the United States
recommend that the congress az its
present session reduce the internal rev
snue taxes imposed TO meet the expenses
OF the war with Spain in the sum OF $50
100000. This reduction should be Sc
cured by the remission OF those taxes
which experience has shown to he the
most ourdensome TO the industries OF tn.
people.
1 specially urge that there be included
In whatever reduction Is made the legacy
tar bequests for public uses OF a literary.
educational or charitable character.
The Merchant Marine.
American vessels during the past three
years have carried about per cent OF
cur exports and imports, Foreign shlps
should carry the least. not the greatest
part OF American trade. The remarks
bic growth OF our steel industries. the
progress OF shipbuilding for the domestic
trade and our steadily maintained sr-
benditures for the navy have created an
opportunity to place the United States In