The Chanute times., 1911-12-29
FINANCES ARE
IN GOOD SHAPE
Economies Have Effected Cut
in Expenses of Various
Departments.
MONETARY REFORM IMPORTANT
President Hopes It VIII Not Be Made
Subject Of Party Polltles-sur-
plus In Postal Department
Attention Called to Canal
Matters-PostaI Savings.


Washington. - Finances and cur
rency reform are the subject of a spe-
cial message to congress, which reads
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 s7O1, ,372, ,S74.99, 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 debt, amounted to 1854 OLS9
leaving a surplus of %7 7234,S7710.
The postal revenue receipts amounted
to $237, ,s79, ,S23 60, while the payments made
for the postal service from the postal
revenues amounted to S237, $50 .4S, which
left a surplus of postal receipts over dis
bursements Of $219, 1872 the first time In
81 years in which a surplus occurred
The interest bearing debt of the United
States June 80, 1911, amounted to $9l6,-
1853, 1870. Teh debt on which interest had
ceased amounted to $1,S70, ,S3O26 and the
debt bearing no interest, including green
backs, national bank notes to be redeem
ed, and fractional currency. amounted to
1886, ,761, ,917.4S, or a total of interest and
non-interest bearing debt amounting to
81. .80S, 1884, ,937.69.
The actual disbursements, exclusive OF
those for the Panama Canal and for the
postal service for the year ending June
10, 1911, were 1854, 1877 997.S SO. The actual
disbursements for the year ending June
90, 1910, exclusive OF the Panama Canal
and the postal service disbursements
were 1853, ,705, ,9s108 making a decrease of
IS, ,667, ,993.19 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 $666. 100000, while the total estimates
exclusive OF those for the Panama pay
able from the postal revenues. amounted
to 1854, ,S42, 1884. This is a decrease In the
1912 estimates of $1,54 ,S6722
For the year ending June 80, 1873 the
estimated receipts, exclusive of the pos
tai revenues, are 1857. .oOoo 900, while the
total estimated appropriations, exclusive
of the Panama Canal and postal dis
easements payable from postal revenues
will amount to s637. 1920, SS. This is
decrease In the 1918 estimates from that
of the 1919 estimates OF 1872, 1850.
As to the postal revenues, the expan-
sion of the business in that department
tho normal increase in the post office
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. II Is fair and equit-
able therefore, in determining the econ
omy with which the government has been
run, to exclude the transactions OF de-
- Ixa tho most office deDartm6nt.
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
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 a number of years shows normal
increase Of about 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
uy Department.
In tho treasury department the efficien-
cy and economy work has been kept
steadily up. Provision is made for the
elimination of 134 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 642 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, 1,259 positions have been
eliminated down to the present time. ma
king a 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 a solution of the banking and
currency problems so long confronting
/ In6 AllOh anu 10 NAio A1SNo oaAN
| 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 as the con-
veniences OF the congress can permit.
The recognition Of the gross imperfec-
tions and marked inadequacy OF our
banking and currency system even In our
/ most quiet financial periods IL Of long
standing; and later there has matured
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
! the methods of the monetary commission
have for a 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 II
| has proceeded 80 that the report of the
commission promises to represent ma
uonal movement the details Of the re-
port are still being considered. can
not, therefore, DO much more at this time
I thar commend the immense Importance
/ OF monetary reform, urge prompt consid-