The herald-advance. (Milbank, S.D.) 1890-1922, 1911-12-29
FINANCES ARE
IN GOOD SHAPE
Economies Have Effected Cut
in Expenses Of Various
Departments.
MONETARY REFORM IMPORTANT
President Hopes Il viii Not Be Made
Subject Of Party PoIitics-Sur-
plus In Postal Department.
Attention Called to Canal
Matters--Postal Savings.

Matters--Postal Savings.
Washington. - Finances and cur
rency reform are the subject Of a spe-
clal message to congress, which reads
n part as follows:
The financial condition Of the govern
nent, as shown SIT the close Of the last
ascal year. June 30, 1911, was very salts
factory. The ordinary receipts into the
yeneral fund, excluding postal revenues.
amounted to S701. 372. 374.99 and the dis
oursements from the general fund for
:urrent expenses and capital OUTLAWS, ex-
.lucing postal and Panama Canal dis
bursements, including the interest on the
public debt, amounted to s654, BIT, 9o7. SO,
leaving a surplus Of SAT. 234, 377.10
The postal revenue receipts amounted
10 s237 .s79. S23. 60, while the payments made
for the postal service from the postal
revenues amounted to 1921. $50, 705. AS, which
left a surplus of postal receipts over dis
burscments of s2l9, lis. II, the first time in
q years In which a surplus occurred.
tn Understanding debt Of the United
States June 80. 1911. amounted to s915.-
B3. 1yS. Teh debt on which interest had
ceased amounted to 1.S70. $780, rs. and the
debt bearing no interest. including green
backs. national bank notes to be redeem
~, hIld GIiCllOIidI CdIIcIlCS, dILlOulltd ~
s2ss. ISL, s17. 43. or a total OF interest and
nop-interest bearing debt amounting to
81, 3O3, 1854, 937. SO.
The actual disbursements, exclusive of
those for the Panama Canal and for the
postal service for the year ending June
30, 1911, were 1854, 1877, 997.S9 The actual
disbursements for the year ending June
30. 1910, exclusive of the Panama Canal
and the postal service disbursements.
ptero SsSQ TS oQ1 no r7nkipu q 1orroaca Of
1881, 1913. 10 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 s6G6, o0, COO, while the total estimates,
exclusive OF those for the Panama pay
able from the postal revenues, amounted
TO $685., 842, 1879. "a. This is a decrease in the
1912 estimates of 81, 534, 367. %.
For the year ending June 30, 1918, the
estimated receipts, exclusive of the pos
tai revenues, are $667, 900, 900, while the
total estimated appropriations, exclusive
OF the Panama Cana and postal dis
easements payable from postal revenues.
will amount to $751;, 92o. 500. IS. This Is a
decrease In the 1918 estimates from that
Of the 1872 estimates Of 81. 1921. 935. SO.
AZ 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.
t6S; 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. It is fair and equit-
able. therefore. in determining the econ
omy with which the government has been
run, to exclude the transactions Of a de-
partm&nt like the post office department,
which relies for its support upon It's re-
ce1pts. In calculations heretofore made
for comparison OF economy in eac year,
It 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 tho 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 a normal
increase OF about 4 per cent. a year. BY
directing the exercise of great are 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 effcien-
cy and economy work has been kept
steadily up. Provision is made for the
elimination OF 14 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 al positions
In tho year 1910, making an elimination
of 542 statutory positions since March 4,
1909: and this has been lone 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 field service OF the
department, too, 1,259 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 first Importance hat Will
come before congress for action at this
session II monetary reform. The con-
graes 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 a solution Of the banking and
currency problems so long confronting
the nation and to furnish the facts and
data necessary to enable the congres
to take action.
In order to do It's 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 as the CON
veniences Of the congress can permit.
The recognition OF the gross imperfeC-
tons and marked i~nadequacy Of our
banking and currency system ever in cur
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 penic. Though
tho methods Of the monetary commission
have for a considerable time been work
ing in the open. and while large number
Of the people have been openly working
with them, and while the press has large
~ noted and discussed this work az II
has proceeded, 20 that the report Of the
commission promises to represent q ma
uonal movement, the details OF tho re-
port are stin being considered. I can
not. therefore, do much more at this time
than commend the immense Importance
Of monetary reform. urge prompt coEsid-
Grafton and action when the commission's
report II received, and express my salts
faction that the plan to be proposed
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