Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-12-07

. miscellaneous sources 46,U00, ,OUU.OO
postal revenues -. 159, ,472, 100
Total estimated revenues 7O0,472.060.72
The expenditures for the same per-
iod are estimated as follows:
For the civil establish
ment ....%loo,VVV,VVV'uv
;, military establishment 122,0O0,O00.O
naval establishment 122, ,000, 100000
I,d,.n service ..... 10000, 100000
>, pensions ............. AfV,VVV,oVo.oo
!. interest on the public
debt ................' @7,VVV'Vvo'vv
;, postal service ....... lbS,alz,ooo.1S .
Total estimated expendi-
lures ............ .ilo'f. S'Voo :. .
cr 4 deficit Of ... $4,000, 90
The secretary In closing his report
makes the following comment ana re-
commentators:
Revenues.
customs receipts for the fiscal year
1904 were S28.O00,000 less than IN the
previous year. While there was 1ur-
ther reduction during the early months
Of the present fiscal year, these re-
ceipts are now increasing, and there
is mo reason to believe the revenues Tor
the wear from this source will be less
than In 1904. The falling on IN l9o4
over that Of the previous year was due
more largely to abnormal conditions IN
1909 than to depression In 1904.
Three other causes contributed to the
oll,ne, off of customs revenues IN lSO4.
rirst the abolition Of the war tax on
tan which caused loss OF over 20
ooo 900: second, the abolition OF the
counteryailing duty on sugar, whicn
raanlted in an estimated reduction OF
ovar 1900 900; third, the reciprocity
traatv with Cuba, which caused q loss
TO the customs revenues Oh tne o1l.eu
States estimated at $685. .0OoO on sue-
ar and s2,215,o0 on tobacco.
It is also worthy OF note tnat tnere
has been a constant increase IN eae
relative proportion Of free over duAiI
able goods The total imports OF nnef-
chandise during October, 1904, was
little over $92,O00,00O as against NJ
t1a less than $s2,000,o0o in the same
month Of the preceding year, but prac-
tically this entire increase was IN lree
imports. !. ~ a,,.
fant that the policy Of public improve
ments oan not be enlarged upon WIN
nut providing gone measure for cor
re esnonding increase in revenues. Tnere
is no opportunity apparent to this de-
nartment where greater economy ~
administrative departments can DC
practiced without injury to the pubic
service. and economy which Injuries the
to- roSv
economy. For instance, the govern
ment annually pays over $200,Ooo ~
rent within the District of Columbia,
which is estimated to yield fully
per cent gross on the value of the ieas-
ed buildings and rooms. No wealthy
private corporation would do Its pusi
ness In such cramped and inconvenlehs
quarters. 1t is the opinion Of this de-
partment that q large sum could DC
prof1tably invested in public buildings
within the district. When it IS porne
in mind that a million dollar puoiic
building represents q million doiiars
collected almost entirely upon luxurles
and articles of voluntary use. ana ex-
pended In labor the wisdom OF efeo'-
ing enough buildings to furnish Tue
space actually needed by the aoH'i'i
istrative departments is apparent.
Bank Notes OF Small Denominations
To meet demand for paper money
Of small denominations, referred -
elsewhere In this report. recommend
that national banks be per1na'.eu ~
issue a larger proportion OF tnelr au-
thorized circulation in denom'''a'io,'s
of five dollars, and that authority De
given to issue one eighth OF the aes.e-
gate volume of gold certificates IN de-
OF ten dollars
Trust Companies.
Within the last few years trust co'l'
panies have made relatively mucn
larger growth in all the large eltles
than national banks. There were u"eh-
ty seven trust companies and forty
nine national banks in New York CITY
ten years ago. The same city now has
forty-seyen trust companies and only
torty-one national banks Ten years
lgo the aggregate capitalization of the
New YORK city trust companies was
26.4oo, 600, and Of national banks 'oo'-
zoo. 600 Now the trust companies are
capitalized at s54,sop,ooo and the ma
ional banks At s11t.soo.ooo. showing