The Red Cloud chief., 1911-12-28
FINANCES ARE
IN GOOD SHAPE
Economies Have Effected Cut
in Expenses Of Various
Departments.
MONETARY REFORM IMPORTANT
President Hopes II VIII Not es Made
subject Of Party Poiltlcs-sur-
pius In PostaI Department.
Attention Called to Canal
Matters-PostaI SAVINGS.

WAtteTS-pO6tdI SaVtn0o.
Washington. Finances and cur
rency reform are the subject of q spe-
eial message to congress. which reads
b part as follows:
The financial condition Of the govern
ment. as shown at the close Of the last
fiscal year. June 30. 1911. was very salts
factory. The ordinary receipts into the
general fund, excluding postal revenues,
amounted to SOL, ,372, ,37499. and the DIS
bursements from the general fund for
current expenses and capital outlays, ex-
eluding postal and Panama Canal dis
oursements including the interest on the
public debt. amounted to s65i, ,377. 907 80,
leaving q surplus OF s47,234,377.lo
The postal revenue receipts amounted
to 1921. .s79. .S23 co. while the payments made
Tor the postal service from the postal
revenues amounted to s237. $50. 7o5.4s. which
left surplus OF postal receipts over dis
bursements OF S2l9.1l8.12 the first time in
q years in which n surplus occurred.
The interest bearing debt Of the United
States June 3o 1911, amounted to $9l5-
S3,190 Teh debt on which interest had
ceased amounted to ei.S70, ,S3026. and the
debt bearing no interest. including green
backs. national bank notes to be redeem
ID. and fractional currency, amounted to
eSS6 761. .917%3. or a total Of interest and
non-interest bearing debt amounting to
b. 300, ,9s4. 4.937.69.
The actual disbursements. exclusive of
those for the Panama Canal and for the
postal service for the year ending June
Do 1911, were 1854. 1877. .997. SO. The actual
disbursements for the year ending June
%. 1910. exclusive Of the Panama Canal
and the postal service disbursements.
were $3.50. .7o5. .ssl.oe. making a decrease Of
1851. .393. 10 in yearly expenditures in the
Onn SnAn HhaN 49, HNnwt
ending June 80. 1912 the estimated re-
ceipts. exclusive Of the postal revenues.
are @666, 900. 900. while the total estimates.
exclusive of those for the Panama pay
able from tho postal revenues. amounted
60 SeB4.s42. 1884. This 10 q decrease in the
ls12 estimates Of 81. .534, ,367.22.
For the year ending June So 1918. the
estimated receipts. exclusive Of the pos
tai revenues. are 1857 900. 900. while the
total estimated appropriations. exclusive
OF the Panama Canal and postal dis
busements payable from postal revenues.
will amount to Sss7 800. so3a5. This 10 .
decrease in the 1918 estimates from that
OF the 1919 estimates Of $7s21 $3.50.
A. 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 $260. $685.
~; but an the department was self-sus-
tSIuuuB tHi1 year tH0 pOStuiaStoE 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 IL fair and eQuit-
able. therefore. in determining the econ
omy with which the government has been
paftment like the post office department,
which relies for Its support upon its re-
ceipts. In calculations heretofore made
for comparison of economy In each year.
It has been the proper custom only to
snclude 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 q normal
incrsase Of about per cent. year. BY
keep down the expenses and the estimates
we have succeeded In reducing the total
disbursements each year
'Emeleney and Economy In the rreas'
ury Department.
In the treasury department the efncien-
ey and economy work has been kept
steadily up. Provision 10 made for the
elimination Of ia 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 14i positions
in the year 1910. making an elimination
Of 6l2 statutory positions since March 4.
100: and this has been done without the
discharge of anybody. because the nor
NAL resignations and deaths have been
equal TO the elimination Of the places. q
system Of transfers having taken care
OF the persons whose positions were
dropped out. In the field service Of the
department. too LES positions have been
eliminated down to the present time. ma
king q 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 nrst Importance that will
come before congress- for action At this
session 10 monetary reform. The con-
Sress 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 20 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
country 10 undoubtedly hoping for ~
prompt action on the report as the con-
venisnces OF the congress can permit.
The recognition Of the gross imperfec-
tons and marked inadequacy OF our
banking and currency system even In our
most quiet financial periods 10 OF long
standing; and later there has matured a
rsoognition OF the sact that our system
10 responsible for the extraordinary de-
vastation. waste and business paralysis
Of our recurring periods of penic. Though
the methods OF the monetary commission
have for a considerable time been work.
ting 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 II
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