The citizen., 1900-12-07

ucuCllS, the aggregate OF Wnlcl rom
1891 to 1899. inclusive. amounted to
S2S3.o22,991.14. The receipts for the
year from all sources. exclusive of postal
revenues. aggregated S567 PIC, ,S51 80 and
expenditures for all purposes, except for
the administration of the postal depart
ment, aggregated $4S1.113. .79171 The
receipts from customs were S233. 1G4.-
S1l.16, an increase over the preceding
year of $27.036.3 3S9.41 The receipts
from internal revenue were S2g5.327.
926.I6. an increase of S21. 500. 7G5.25
over 1899. The receipts from miscc-
laneous sources were $3S. 74S. .05397 rs
against $36.39i, 1862 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 cypcnditurcs
for the fiscal year 1900 were $134.774.-
7611S. reduction of S95. .0GG. 1856. 60 over
those of 1899. In the navy department
the expenditures were $50. 5.953. .077.72 for
the year 1900 rs against So. 3.942. .104.25
for the preceding year, decrease of 81
9S9,026.53. In the expenditures on ac-
count of Indians there was a decrease in
1900 over 1899 of S2.G3OG04.3S. and in
the civil and miscellaneous expenses for
1900 there was reduction of $134iS.-
O6574
Because of tbe ovcoss or rovo,,,os o,.or
expcnditurcs tbo socrct,rv or tI,n troo,
ury was enabled to apply bonds and 9TH
er securities to the sinking fund to the
amount of S5G,5li516.06. The details
of the sinking fund are set forth in the
report of the secretary of the treasury
to which | invite attention The Srcrr-
tarv of the treasury estimates tbot tho
rcccipts for IN, current fsc,I ,nor win
aggregate $3.50 O0O eco and tho o,n.,,Ji.
lures S5O000OOO lcavina nm cvcnss nr
revenues over expenditures of SSOo0o
600. The present condition of the treas
ury l. one Of undoubtcd strength. The
available cash balance Nov 30 wdS $13g.-
BOB. t94,5O. Under the form of statement
prior to the financial law of March Il
last there would have been included in
the statement of available cash geld 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 SllOOOo0uo. would Ice $3.50
3o3, ,i9fIO Such balance Nov. 80. lS.a
was S2D6,l9J.3Ol. In the general
fund, which is wholly separate from the
reserve and trust funds there was ON
Nov 30 $4,000. .O1i.iJ in gold coin and
bullion, to which should hc added So
9oI,"Oo in gold certificates subject To is
sue. against which there are held in the
division Of redemption gold coin and hul-
lion. making total holding Of free gold
amounting To S9@,OII313.1J.
1t will be the duty us am sure it 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.
Financial Act of 1900.
The bcncGriaI effect of rho Iinonci,,I .,ct
of 1900. 50 far ms if relates fo - mudif,.-
ton Of tbc national banl,ino mot il. 81.
ready apn0rent Tho nrnvisinn far tI,,
incorporation Of national h,rk. With =,
capital of not less than So. OOo in nlocas
not exceeding 5000 ipbabitapts has rn-
suited in the extension of b,nl.in~ f,ciIi-
ties to many small communities bitL,rto
unobln to nroyidn tbon,ynl,.os ,.;tr I,n,,,.
ing institutions apdcr the notionol svs-
tenn. There were orpanizeJ from tbn
enactment of the law mn to and ineludinr
Nov. 80 3G9 national banks. of which oGi
were with capitaI less than S5no0o and
| 1U3 with capital of so 600 ar moro
Our foreign trade shows n remarkable
record of commercial and industrial nro,-
rcss. The total of imports and oynorts
for the first time in the history Of tbo
country exceeded S2.O0O0O0 0Gn. Tho
exports are greater than tbov nave over
been before. the total for tln fiscol vc,r
1900 being S1.39i. .4S3. .OSo nm incroaso
over 1899 of S1G7. .459. .7SO. nm incrcoso
over 1898 of SlG3. .O00. 1872, over 1897 of
So t.. .4S9. :J2ti and greater than in 1S9G bv
$J11.S1G.l44
The growth of manufacturers in tho
United States is evidenced by the fact
that exports Of manufactured products
largely exceed those Of any previous
year, their value for 1900 being S4.3.
sol too against N''H).'32. llG in 1889, an
increase of ~ per cent.
Agricultural products We're also eX-
ported during 1900 IN greater volume
than IN lSF3, the total for the wear being
HS31'S"S, l2I, against SIS S,II61l2 in
lS99.
The imports for the year amounted to
SSl9,9ll,lSl. an increase over 1889 of
Sl1-, T9-'o9o. IhlS increase is largely in
materials for manufacture and is in re-
sponsc to the rapid development of manu-
featuring in the United States.
| recommend that the congress mt its
present session reduce the internal roy
enue taxes imposed 70 meet the expenses
of the war with Spain in the sum of $50
OOO,OOO. This reduction should he Sc
! cured by the remission of those taxes
which experience has shown to be the
most burdcnsome to the industries of the
people.