The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1908-12-09


May and June. 1905. Witnessed ex-
to the amount OF sac. 65s. 972. For
the Twelve months ending October
81, 1908. the total Imports of gold
were $50. 234, 046. and total exports
$T2. 5Os.564-
The secretary says Il Is would
seem that means might be DEVISED
TO diminish the transfer OF physical
gold under these conditions That
credits or loans OF gold might be
extended more generously than at
present by one nation TO another
in times OF stress. was proposed soon
after the crisis OF year ago. 1t
has been suggested that an inter-
national conference be called OF rep
finance and of the great state banks
with u view to more prompt and ef-
fective cooperation in emergencies
The secretary devotesi considera-
BILE space to the question OF an eco
nomical disbursement to current re-
ceipts. and the classification of both
receipts and disbursements in such
a way as TO facilitate such an nd
justment. and suggests that II would
perhaps be competent to Congress to
vest in n joint committee the power
OF revising the appropriations bills
with a view to distributing reduc-
tons and increases in an equitable
manner and also with view TO the
relative importance Of the object for
which appropriations are sought. 1t
would seem that such n committee
should be charged with the respon-
sibIIity OF keeping the expenditures
OF each year approximately within
the revenue Of the year. or. If this
could not be DONE that It should
>
amount OF short term obligations to
bridge over the deficit OF loan years
BY such n committee needless and
wasteful expenditures might be
checked.
The secretary says that the pres
ent form of treasury statement Is in
several respects misleading. It makes
no separation between the expen d.
lures for the ordinary service Of the
government, and those for perna-
nent public works, like river and
harbor improvements. public build
Tngs and the Panama Canal. II
these statements differeD tinted be-
tween the ordinary and the extra
ordinary expenditures the record of
the fiscal year 1905 would show or
binary receipts S6Ol,126.11s. ordin-
airy disbursements, S5TO. Arises
supIus of receipts. $780, 4s,2T9. EN-
traordInary receipts and disburse-
mcnts sale of Panama bonds. S24.-
631, $50 sale of treasury certificates
$15,436,5OO. From premium, $685.
7Ss. Total extraordinary receipts
$40, SO4,26S extraordinary dis
bursements. for Panama Canal. $5S.-
o93.425; for public buildings. under
treasury, S9.341,34G; for reclama-
ton service. $11, I26.O+2. For rivers
and harbors. $3e,I57.649. For the
reduction of the public debt. $34--
35G,75O. Total extraordinary dis
sI23. OT5.25O.
There are other changes that
should be made In the daily treas
ury statement in the interest of 4
better understanding of the financial
operations of the department.
On the subject OF the revision of
tho. traifE the secretary says the new
administration Is pledged to fair
and equitable revision. The ne
cessities of the government should
be guide, at least in part. to the
measure and character of the re-
vision. Data recorded in this report
tell their own story. If the de-
ficiencles reach anything like the fig
ures given. ample provision must be
made through new subjects of tax
alton, to provide adequate revenue.
The earnest consideration Of Con
pyress is especially urged to this
phase of the subject
OF recent currency Legislation the
secretary says that the act passed at
the last session of Congress has
served a useful purpose, and VIII be
available until the recommendation
of the monetary commission created