Democratic Sentinel, Volume 6, Number 46, Rensselaer, Jasper County, 15 December 1882 — THE TREASURY. [ARTICLE]

THE TREASURY.

Anhrtal Report of Secretary Folger on tho Natidrial Finances; the report rs tfie Secretary dt this tretedry IS a lengthy documen’—nearly, if not quite, twice the bulk of President Arthur’s message—and fairly bristles with tabular showings cf the national finances We present below, in a summarized form, the main points of general interest contained in this, the most important of all the departmental reports. Forthe fiscal year Ending J link 30, 1882, the revenue of the Government ex heeded the total Ot inary eX‘ peases $145,543,810, which, together with $20,737,6JI drawn from the ca- h balance in the treasury, was applied to t e reduction of the national debt. While the net increase of the revenue from all sources was $42,742,958 by the natural growth and thrift of the country, and not by increase of tax levies, the expenditures of the Government decreased $2,731,448. Tlie decre se in the interest on the public debt about balanced the increase in pensions. It is estimated that if the taxes should remain throughout the vear as now the surplus would amount to about $75,000,000. The coinage of silv. r dollars under the present act up to Nov. 1, 1882, had amounted to $123,320,880. There were on the first of last month 2,4)0 tons ot silver coin stored ih the public vaults. The Secretary thinks there should be aha tin the coin.ige, that the department should be authorized to coin only so much as will be necessary to supply the demand. The gold certificates are passed over with a simple statement of the amount ready for issue ($138,520,i o<i) and the amount actually issued up to Nov. 27 $11,290,000). No di mission of the restric ive or Aew York policy is entered into. The total export of coin and bullion forthe year was $40,417,479; the total import, $4!.472 390. The coinage of gold amounted to $89,413,447, about $11,000,000 in excess of any previous vear. The mints did a large st- oke of business in m-inor coins, of which there were no less than 46,865 728 pieces struck, worth $844,757.75. Over 40,000,000 of these pieces were pennies, the rest for the most part, 6-cefit nickels, the demand for which was Very large. The total Stock Of United States coin ahd bullion available for coinage, not counting anything but gold and silver, amounted, Oct. 1, to |773,f81,7.>1. The Secretary recommends the repeal of the special taxes on national banks, which, he says, derives little or no profit on their circulation. He says that nearly one-ii df of tile interestbearing funded debtof the United States i51,400,000,000 f is held by the banks, national, State and jirivate, thus forming’the basis qf our own medium of exchange. It follows, he claims, that the debt could not be reduced more than that amount without endangering the stabiU Ity of our banking system. '1 he evil practice of overcertification of checks by n itional banks is animadverted upon, and those who persist in it are plainly warned that they will be prosecuted under the law. The Secretary save, in regard to public moneys, that, so tar as known, there h.ve been Ho losses to Government from public Officers engaged either In the leccipt, the safe keeping or the disbursement Of the public funds. The cost per cent, of collecting customs dues was never so low as now, and the internal-revenue service seems to be in most excellent condition, from an economic point of view. Tlie total receipts of customs were $222,559,104; ot internal revenue, $146,523,273. The Secretary strongly urges radical chances in the classification of sugar. For the 1 est he discusses tariff reform in conne tion with ths general subject of the reduction of taxation. Air. Folger would abolish all internal taxation except that on spirits, fermented liquors and tobacco, making a reduction of $22,0(M', , 10<>, and still leaving a surplus of $98,009,000. That he would take from customs by a general system of reduc'ion, especially on raw materials in general, and sugar in particular. Ihe report stater that foreign co-i-merce of the country shows a balance in favor of expor s to the amount of >early $ 6,< 00, W. Over -.per cent, of our exports consists of agricultural products. The tonnage of vessels owned in the United States and engaged in the foreign t- ade, is still declining, but the tonnage of those in the domestic trade increased more than three times as tmuch as foreign tonnage decreased. There weffe 1,376 vessels built and documented as vessels es the United States during the year. Of these. 502 were steam vessels. Ot the combined imports and exports of merchandise 16 per cent, only was conveyed in Ame lean vessels. The Secretary makes no suggestion on the subject of encouraging ship-building. M'-. I-olger discusses the pleuro-pneumonia question, reco nizing the fact that it is confined to cattle in certain districts of the Atlantic States, and has no foo hold in the vest. He savs that airangements arc being made which will justify the removal of the present ritish embargo on American live .-to.-k There is a large demand for stock cattle in England, which this co ntry could and would supply, to a great extent, if the Englisa Government was not afraid of contagion.