The Bridgeport evening farmer., 1911-12-21
MtOOAuc UN
 DEPARTMENTS
 AND FINANCES
President Taft Recommends Cur rency Reform, National Re-
 : seVe Association and ~ MTal Parcel Post

sBhsws Economy in Treasury. Pssteff7os and Other Departments - National
 Crsdit Highest In the WorId-Favors 7 Rsmittins Panama Canal Tolls on : American ships-Advoeatss Continu- = Sag Two eattleships Per Year and { Aiding Two ceIIisrs.
 10 the Senate and House of Represent at1ves:
 The dnancial condition of the gov s sAfnment as shown at the close of the last fiscal year. June 30. 1911. was very satisfactory. The ordinary re- 1. ceipts into the general fund. excluding < postal revenues. amounted to S7O1 .372.- o74.90. and the disbursements from the general fund for current expenses and capital Outlays. excluding postal And Panama canal disbursements. in- ' cluding tue interest on the public debt. annotated to $6l4.137 .9O7 .s9, leaving . surplus of $47.234.377.1O.
 T The postal revenue receipts amount. ed to $237 .879 .S23.6O. while the pay. Dents made for the postal service from the postal revenues amounted to $751; 600.706.4S. which left a surplus of rpogtAl receipts over disbursements of . ee210.11A12. the first time in twenty sEurred-
 ! The interest bearing debt of the United States June 30. 1911. amounted ' Do 015.S53. l9O. The debt on which in- terest had ceased amounted to $1.S79,- 8SO.2@ and the debt bearing no inter- est. Including greenbacks. national banknOtes to be redeemed and frac- 6onal currency. amounted to S3S6.- 55t917.43. or total of interest and uoninterest bearing debt amounting to e1.3OS. .9S4. .9S7.69.
 sh The actual disbursements. exclusive Of those for the Panama canal and for the postal service for the year ending June 30. 1911. were $654. 13I 097 S8 The actual disbursements for the year ending June 30. 1910. exclusive of the Panama canal and the postal service
  making . decrease of $5.567 .39S l9 in yearly expenditures in the year 1911 under that of 1910. For the year end. ing June 30. 1912. the estimated re- ceipts. exclusive of the postal reve- nues. are $666. 100000. while the total estimates. exclusive of those for the Panama canal and the postal expendi. lures payable from the postal reve- nues. amount to $645.S42. .799.34 This b a decrease in the 1912 estimates from that of the 1911 estimates of $1.- BS4.367.22.
 For the year ending June 30. 1918. khe postal revenues. are $66I 100000. while the total estimated appropria- -tions. exclusive of the Panama canal and postal disbursements payable from postal revenues, will amount to $t37.- 02O.80S.3S This Is a decrease In the a0l8 estimates from that of the 1912 bstimates of $7.921 .995 99.
 x. AS to the postal revenues, the ex- pansiou of the business In that de- partment. the normal increase in the SpcstofHce and the extension of the sUervice will increase the outlay to the sum of $260 0.93S, ,463. but as the depart ment was self sustaining this year the postmaster general Is assured that next year the receipts will at least equal the expenditures and probably exreed them by more than the surplus pf this year.
 The Credit of the United States.
 uY~h~ ~.v.cd,e .,F fhs~ rovorpmopf xror Uhown to be better than that of any other government by the sale of the Panama canal per cent bonds. These bonds did not give their owners the privilege of using them as basis for bankn0te circulation. nor was there any other privilege extended to them which would affect their general market val ue. Their sale. therefore. measured the credit of the government. The pre- mium which was realized upon the bonds made the actual interest rate ot the transaction 2.9O9 per cent.
 In the treasury department the ef 1ciency 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 fhe office of the treasury in Wash 1ngt6n and Al positions in the year 1910. making an elimination of 542 stntutory positions since March 4. 1909. and this has been done without the discharge of anybody. because the normal resignations and deaths have been equal to the elimination of the places. a system of transfers having taken care of the persons whose posi- tions were dropped out In the field service of ;he department. too. 1.259 positions h' been eliminated down to the present 'ime. making total net reduction of all treasury positions to the number of 1901. Meantime the efficiency of the work of the depart ment has increased.
 Monetary Reform.
 A matter of first importance that will come before congress for action a, fhis session is r-opotarv reform. The congress has itself arranged an early Introduction of this great question through the report of it's monetary commission. This commission was ap pointed to recommend a solution of the