Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1911-12-29
FINANCES ARE
in GOOD SHAPE
Economies Have Effected Cut
in Expenses of Various
Departments.
MONETARY REFORM IMPORTANT.
President Hopes II viii Not Be Made
Subject Of Party PolItIcs-Sur-
plus In Postal Department
Attention Called to Canal
Matters-PostaI Savings.

Attention Called to Canal
Matters-PostaI Savings.
Washington. = Finances and cur
rency reform are the subject of spe-
in part as follows:
The financial condition of the govern
ment as shown at the close of the last
fiscal year, June 80 1911. was very salts
factory The ordinary receipts into the
general fund.- excluding postal revenues
amounted to SOL. 372. 374.99. and the dis
bursements from the general fund for
current expenses and capital outlays, ex-
GLIDING postal and Panama Canal dis
bursements. including the interest on the
public debt, amounted to 1854, 377, 1907 SO,
leaving surplus of $47234,37710.
The postal revenue receipts amounted
to 1921, S79 so. while the payments made
for the postal service from the postal
revenues amounted to 1921. $50. 705.4S, which
left a surplus of postal receipts over dis
bursements of s219. 11S.12 the first time in
81 years in which surplus occurred.
The interest bearing debt of the United
| States June 30. 1911, amounted to $915,-
1853. 1870. Teh debt on which interest had
ceased amounted to $3.50. s30.26, and the
debt bearing no interest, including green
backs, national bank notes to be redeem
ed, and fractional currency, amounted to
1886. 75l. 917.4S, or a total of interest and
non-interest bearing debt amounting to
81. 1908, 1884, 1881. So
The actual disbursements, exclusive of
those for the Panama Canal and for the
postal service for the year ending June
80 1911. were 1864. 1871. 997.S9. The actual
disbursements for the year ending June
3d. 1910. exclusive OF the Panama Canal
| and the postal service disbursements
| -.
so,b67 1881 in yearly expenditures in the
| year 1911 under that of 1910. For the year
ending June 30, 1912, the estimated re-
ceipts, exclusive of the postal revenues,
are 1865 100000, while the total estimates,
exclusive of those for the Panama pay
able from the postal revenues, amounted
to 1854 s42. 799. "a. This is a decrease in the
1912 estimates of 1854. 1922.
! For the year ending June 3d. 1918, the
estimated receipts, exclusive of the pos
tai revenues, are 1867 900, 900, while the
total estimated appropriations, exclusive
OF the Panama Canal and postal dis
easements payable from postal revenues,
will amount to $s37, 800. s. This is
decrease in the 1918 estimates from that
Of the 1912 estimates of $7,921. 1896 80.
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, $685.
463; but as the department was self-sus-
tanning 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 1t Is fair and equit-
able therefore, in determining the econ
omy with which the government has been
run, to exclude the transactions of de-
partment like the post office department,
ifa
ceipts. In calculations heretofore made
for comparison OF economy In each year
II has been the proper custom only to
include in the statement the deficit in the
post office department which was paid out
of 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 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 and 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 efficienz
cy and economy work has been kept
steadily up. Provision is made for the
elimination of 1874 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 141 positions
in the year 1910 making an elimination
of SAP statutory positions since March 4.
1909; 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
system of transfers having taken care
of the persons whose positions were
dropped out. In the field service of the
department. too. 1883 positions have been
eliminated down to the present time. ma
king total net reduction of all treasury
positions to the number OF 1901 Mean
time the efficiency of the work of the
department has increased.
Monetary Reform.
A matter of first Importance that will
come before congress for action at this
session Is monetary reform The CON
gress has itself arranged an early intro
duction 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 70 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
country Is undoubtedly hoping for as
prompt action on the report the con-
veniences OF the congress can permit.
The recognition of the gross imperfec-
lions and marked inadequacy of our
banking and currency system even In our
most quiet financial periods is of long
standing. and later there has matured a
recognition OF the fact that our system
is 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
ly noted and discussed this work as 1t
has proceeded. SO that the report of the
commission promises to represent a ma
uonal 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 prompt consid-
Grafton and action when the commissions
report is received, and express my 5 -tis-
faction that the plan to be proposed
promises to embrace main features that
having met the approval of a great pre-
ponderance OF the practical and profess
~~~~o-~~~-oe~S~~~~~-
Furniture Polish.
Many people do not know that lem.
on oil is the basis OF all fine fur.