The Forrest City times., 1911-12-22
FINANCES IRE
 IN GOOD SHAPE
Economics Have Effected Cut in Expenses of Various
 Departments.
MONETARY REFORM lMPORTkA7
President Hopes It Win Not Be Made Subject of Party Poitics-Sur- plus In Postal Department
 Attention Called 10 Canal
 Mattsrs-Postal Savings.

Washington. Finances and cur rency reform are the subject Of a spe- cial message 10 congress. which reads in part as follows:
 The financial condition of the govern rnent. as shown al the close of the last fiscal year June 9. 1911. very satis- factory The ordinary receipts Into tae general fund. excluding postal revenues. amounted to S3oi. .372s74 g. and the dis- bursements from the general fund for current expenses and capital outlays. ex- cluding postal and Panama Canal dis- bursements. including the interest on the public sebt. amounted to S55i 37s. .g95. SS. leaving a surplus of s47. .234.S .SIEl0
 The postal revenue receipts amounted to s237. .s79 S23 60 while the payments made for the postal service from the postal revenues amounted to s237 .sGo .4s. which left a surplus of postal receipts over dis bursements of s219. 11S 12 the first time in zT years in which a surplus occurred.
 The interest," bearing debt of the United States June 30 1911. amounted to S9i5. s53 l9o. Teh debt on which interest had ceased amounted to si so S3o.26. and the debt bearing no interest, including green backs. national bank notes to be redeem ed. and fractional currency. amounted to s3s6, sli43 or d total of interest and non-interest bearing debt amounting to q. .313, ,9S4. .937 co
 The actual disbursements. exclusive of those for the Panama Canal and for the postal service for the year ending June SD. 1911 were s654. 137 997. Sc. The actual disbursements for the year ending June 90. 1910. exclusive of the Panama Canal and the postal service disbursements were s659. 705 3s1. .0s, making n decrease of $oSi. 19 in yearly expenditures in the year 1911 under that of 1910 For the year ending June 90. 1912. the estimated re ceipts exclusive of the postal revenues are s5e6. coo. while the total estimates exclusive of those for the Panama pay able from the postal revenues. amounted Go $e54. .s42. 7e9 34. This is a decrease In the 1912 estimates of q, ,534 367.22
 For the year ending June 30 1913. the estimated receipts. exclusive of the pos tai revenues. are s667 ooo. o0o while the total estimated appropriations. exclusive Of the Panama Canal and postal dis busements payable from postal revenues. will amount to ss37. .920, ,S03 B This is a decrease In the 1913 estimate. from that of the 1912 estimates of s7s2l, ,sa5 9s
 As to the postal revenues the expan- sion of the business in that department, the normal increase in the post office and the extension of the service, will in crease the outlay to the sum of s26O 93S.- 463; but as the department was self-sus- taining this year the postmaster general Is assured that next year the receipts will at least equal the expenditures, and probably exceed them by more than the surplus of this year. II is fair and equit- able. therefore. in determining the econ omy with which the government has been run. 10 exclude the transactions of a de- pertinent like the post office department which relies for its support upon it's re- ceipts. In calculations heretofore made for comparison of economy in each year. It has been the proper custom only to r.@f.Y YI, post office department w-ich was paid out of the treasury.
 calculation of the actual increase in the expenses of government arising from the increase In the population and the general expansion of governmental . functions, except those of the post office. for number of years shows a normal increase of about per cent a year By directing the exercise of great care to keep down the expenses ana the estimates we have succeeded in reducing the total disbursements each year.
 Efficiency and Economy in the Treas
 ury Department
 In the treasury department the efdc.en- ey and economy work has been kept steadily up. Provision is made for the elimination Of l34 positions during the coming year. Two hundred and sixty seven statutory positions were eliminated during the last year in the office ef the treasury In Washington. and 14l positions in fhe year 1910 making an elimination CT 5i2 statutory positions since March 4 1909, and this has been done Wit4out tAe discharge of anybody, because Che nor maj resignataus and deaths have been equal to the elimination of the places a system of transfers having taken care of the persess whose positions were dropped out In the field service of the department, teo, i259 positions have been eliminated down to the present time. ma king total net reduction of AN treasury positions to the number Of l.Sal Mean time the efficiency of the work os tAe department has increased
 Monetary Reform.
 A matter of first importance that will come heforo congress for action at this session Is monetary reform The cen gress has Itself arranged early intro ducton Of this great question through the report Of its monetary commission. This commission was appointed to rec ommend solution of the banking and currency problems so long confronting the nation and 10 furnish the facts and data necessary to enable the congress to take action.
 In order 10 do it's work with thorough ness and precision this commission has taken some time 10 make its report The country is undoubtedly hoping for as prompt action on the report as the con Veniences of the congress can permit The recognition of the gross inperfec- tions and marked inadequaey of our banking and currency system even in our most quiet financial periods Is Sf long standing, and later there has matuTed a recognition of the fact that our system is responsible for the extraordinary de vastatou, waste and business paralysis of our recurring periods oe panic. Though the methods Of the monetary commission have for q considerable time been work ing in the opeR. and while large numbers Of the people have been openly working with them, and while the press has large ly noted and discussed this work as it has proceeded. so that the report of the commission promises to represent E ma honai movement. the details of the re- port are still being considered can not. therefore. do much more at this time than commend the immense Importance of monetary reform. urge promp; consid- eration and action when the commtss! ms report Is received, and express my sa.ts- faction that the plan 10 be propol promises to embrace main features thAl having met the approval of n great pre- coadergnce e. .ne practical and osaees-