The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1900-12-04

wv - O8YHy&82 uV0A4 IoxIByNLl0u -
may b nessssav u meet the smsrssocy
Ihs prssidsnt s1pfspss gratincatior, ovel
tns psesSes being made for the Pan.Amss,
lean sSpss1tiaa at nu&1f6 nsxt year TIE
,wsrk ~ the bureau Of American fsputiics
appsevsd., The eonSulsr service 10 coin
.ssndst for It, sn,casncy.
Fiscal Affairs.
1t 10 gratifying to be able to state that
the surplus revenues for the fiscal yesr
ended June 30, 1900. were s79,521, ,oeO. 49,
Cor the six preceding years we had only
aenc1ts, the aggregate Of which from 1894
70 1919, inclusive, amounted to $3.50, ,022,
0I.l4. The receipts for the year from all
sources, exclusive Of postal revenues, ag-
gregated 1851, ,240, ,s51. 80, and expenditures
Tor oil purposes except for the adminis-
tration Of the postal department, aggre-
gated s7,71S,79171. The receipts from
customs were $233, 1o4, ,S71.18 an increase
over the preceding year Of $27, ,O36, ,3S9. Al
The receipts from internal revenue we're
S290, ,327 ,028.76, an increase Of s21,sp0,-
T6o.25 over 1890. The receipts from mis-
cellaneous sources were $3S, ,745, ,0B8.97, as
against S36, ,394 076.9 92 for the previous year.
III is gratifying also to note that during
the year considerable reduction Is shown
In the expenditures of the government.
Ihe war department expenditures for the
fiscal year 1900 were S134, ,TT4, 1915, u re-
duction Of 500, ,068, 60 over those OF 1890.
In the navy department the expenditures
were $55,063,0 ,077.73 for the year 1900, as
against $63942, 1o4.25 for the preceding
year. decrease OF S7,050, ,O26.53 In the
expenditures on account of Indians there
was decrease In 1000 over 1890 Of
$2,03o,604.3S, and in the civil and misccl-
laneous expenses for 1900 there was re-
duction OF S13,41O OG5 IA
Because Of the excess Of revenues over
expenditures, the secretary OF the treasury
was enabled to apply bonds and other Sc
curities to the sinking fund to the amount
OF 1854, ,55606. The details OF the sink
Ing fund are set forth In the report Of the
secretary Of the treasury, to which ! in
vite attention. The secretary OF the treas
ury estimates that the receipts of the coun-
try for the fiscal year will aggregate $780,
100000 aud the expenditures s500, 1000, 600
leaving an excess OF revenues over expend-
lures Of Ss0,0O0OOo. The condition Of the
treasury Is one of uDdoubted strength.
IL will be the duty, as | am sure 1t will
be the disposition Of congress to provide
whatever further legislation is needed to
insure the continued parity under all con.
ditions between our two forms Of metallic
money, silver and gold.
Our surplus revenues have permitted the
secretary Of the treasury since the close
or the fiscal year 10 call in the fuIuIcd
loan Of 1901 continued at 2 per cent, in
the sum OF S25,364 800. To and including
Nov. 80, S23, ,45S, 100 of these bonds have
been paid. This sum, together with the
amount which may accrue from further
redemptlons under the call, will be ap-
piled to the sinking fund.
The law of March II, 1900, provides for
refunding into 2 percent 30 year bonds,
payable, principal and interest, in gold
coin OF the present standard value, that
portion of the public debt represented by
the 8 per cent bonds of 1908, the per
cents OF 1907 and the per cents Of 1904, !
II which there vas outstanding at the
late Of said law $3.50, 930. The holders
II the old bonds presented them for cx-
'hange between March IA and Nov. 30 to !
he amount of $3Gi, ,943, $50. The net saw !
ng to the government on these transac. ,
Ions aggregates, so, 106, ,166. ,,..-..s &.
Another effect Of the operation, as stated
~ the, secretary, Is to reduce the charge
pon the treasury for the payment OF inter
st from the dates Of refunding to Feb. l, :
904, by the sum, Of more than $1,000, 900
nBualy. From Feb. 1, 1904, to July /,
GOT, the annual interest charge will be re-
uced by the sum of more than $4,000, 900,
nd for the 13 months ending Aug. I,
00S, by about 81 ZOO, 900. The full details
the refundins are given in the annual
eport of the secretary Of the treasury.
National Banks.
The beneficial effect Of the financial act
I 1900, so far as 1t relates to the modi6-
alton of the national banking act, Is OIL
pady apparent. The provision for the in
Drporati0n OF national banks with a capl-
Il Of not less than $4,000, In places not
xceeding 5000 Inhabitants, has resulted
! the extension Of banking facilities to
ANY small communities hitherto unable
} provide themselves with banking Instl-
,tions under the national system. There
ere organized from the enactment Of the
W up to and including Nov. 80, 800 ma
onal banks.of which 266 were with capital
IS than 100000, and 103 with capital Of
4, 900 or more.
II Is worthy Of mention that the greater
amber of banks being organized under
10 new law are in sections where the
ed Of banking facilities has been most I
Onounced. Texas, Oklahoma, Indian Ter l
Iory and western sections Of the country 2
We availed themselves largely of the priv
'ges under the new law.
The Increase In circulating notes from \
arch II to Nov. 80 Is SIT, 7,02057O '
The party in power is committed to such
sislatiOn as will better make the cur a
ncy responsive to the varying needs Of +
siness at all seasons and in all sections. p
Foreign Trade. =
Dur foreign trade shows remarkable 4
cord Of commercial and Industrial pro-
ess The total Of imports and exports
the first time In the history of the
intry exceeded $4,000, 900, 600 The ex- v
IT'S are greater than they have ever been A
fore, the total for the fiscal year 1900 I