Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1911-12-28
FINANCES ARE
IN GOOD SHAPE
Economics Have Effected Cut
in Expenses of Various
Departments.
MONETARY REFORM IMPORTANT
pvssIdsnt Hopes II VIII Not Be Made
subject Of Party PoiItIes-sur
plus In Postal Department.
Attention Called 70 Canal
Matters-Postal Savings.

Attention Called 70 Canal
Matters-PostaI ssvlngs-
Washington. - Finances and cur
rsncy reform are the subject Of spe-
eial message to congress, which reads
n part as follows:
The financial condition Of the govern
uant, an shown at the close Of tho last
nsoal year. June %. lsil. was very salts
factory. The ordinary receipts into the
general fund. excluding postal revenues,
amounted to s7oi, s72, s74s9 and the dis
bursements from the general fund for
current expenses and capital OUTLAWS ex-
Guiding postal and Panama Canal dis
bursements, including the interest on the
public debt. amounted to 1854. 81. so7 50.
having a surplus Of 3r,es4.sT.m
The postal revenue receipts amounted
TO s23T s7s. s2s 90, while the payments made
for the postal service from the postal
left a surplus OF postal receipts over dis
bursements Of s21s.11al2, the nrst time in
n years in which surplus occurred.
The interest-bearins debt of the United
States June 30. 1911. amounted TO $slb.-
8ss190 Teh debt on which interest had
ceased amounted to n.s7o sso.2e, and the
tsbt bearing no interest, including green
0DGhbt n&uOndl Dhuk nOtta 70 20 IcutuihR-
ID, and fractional currency, amounted to
$ss6, 7t1, si7.4s or q total Of interest and
non-interest bearing debt amounting to
q. So3, 9S4, ss7.es
The actual disbursements, exclusive Of
those for the Panama Canal and for the
postal service for the year ending June
d 1911, were 1854. 137, eN 80. The actual
disbursements for the year ending June
%. 1910. exclusive Of the Panama Canal
ha atal lama MT
were s65s, 7o6 .os, making q decrease of
B,cS7. $3.50 in yearly expenditures in the
year 1911 under that Of 1910. For the year
ending June 90. 1917. the estimated re-
csipts, exclusive of the postal revenues,
are $500. 900 900, while the total estimates,
exclusive Of those for the Panama pay
able from the postal revenues. amounted
70 1854. S42. 1884 This In a decrease In the
9l2 estimates of s1.534. 3s7.22
For the year ending June 90. lsla the
estimated receipts exclusive OF the pos
tai revenues. are 1851. 900. 900. while the
total estimated appropriations, exclusive
Of the Panama Canal and postal dis
busernents payable from postal revenues,
viii amount TO seS7. $40 IS. This IL q
decrease in the 1918 estimates from that
Of the 1913 estimates Of q. 81. ss6.ss.
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 $3.50, sSs.-
t6s: but as the department was self-sus-
tanning this year the postmaster general
n assured that nsxt year the receipts
win at least equal the expenditures, and
probably exceed them By more than the
surplus Of this year. 1t 10 fair and equit-
able. therefore, In detsrnhsing the econ
omy with which the government has been
run. to exclude the transactions Of de-
partment like the post ofics department,
which relies for its support upon its re-
cefpts. In calculations heretofore made
for comparison OF economy In each year.
Il has been the proper custom only to
include in the statement the deficit In the
post office department which was paid out
II the treasury.
A 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 a number of years shows q normal
increase Of about 4 per cent year. BY
directing the exercise of great care to
keep down the expenses and the estimates
we have succeeded In reducing the total
disbursements each year.
Efficiency and Economy In the Treas
- ury Department
cy Apconomy work has been kept
stsads&y d. Provision 10 made for the
elimination of 1s4 positions during the
coming year. Two hundred and sixty
seven statutory positions were eliminated
during the last year In the office Of the
treasury in Washington. and il positions
IN the year 1910. making an elimination
Of 542 statutory positions since March 4.
lsoo; and this has been done without the
discharge Of anybody. because the nor
NAL designations and deaths have been
eQual TO the elimination Of the places. a
system of transfers having taken care
OF the persons whose positions were
dropped out. In the Held service OF the
department. too, 1.25s positions have been
eliminated down to the present time. ma
king a total net reduction of all treasury
positions to the number of 1.s0i. Mean
time the efficiency OF the work Of the
department has increased.
Monetary Reform
A matter of first Importance that win
CONS before congress for action at this
session ID monetary reform. The oon-
gress has itself arranged an early intro
duction of this great question through
the report Of It's monetary commission.
This commission was appointed to REQ
ommend q solution of the banking and
currency problems - long confronting
the nation and to furnish the facts and
data necessary to enable the congress
to take action.
In order to do its work with thorough
ness and precision this commission has
taken some time TO make its report The
sountry Is undoubtedly hoping for as
prompt action on the report as the com
vsniences OF the congress can permit.
The recognition Of the gross imperfec-
tons and marked inadsquacy of our
banking and currency system even In our
most quiet financial periods 10 of long
standing; and later there has matured a
recognition Of the fact that our system
IL responsible for the extraordinary de-
vastation. waste and business paralysis
Of our recurring periods Of panic. Though
the methods of the monetary commission
have for considerable time been work.
ing In the open. and while large numbers
OF the people have been openly working
with them. and while the press has large
~ noted and discussed this work as 1t
has proceeded. so that the report Of the
commission promises TO represent a ma
tional movement, the details OF the re-
port are still being considered I can
not, therefore. do much more at this time
than commend the immense Importance
Of monetary reform. urge prompt consid-
GRAFTON and action when the commissions
report 10 received. and express my salts
faction that the plan to be proposed
promises to embrace main features that
having met the approval OF a great pre-
ponderancs Of the practical and profess
Furniture Polish.
Many people do not know that lem