Rensselaer Republican, Volume 20, Number 15, Rensselaer, Jasper County, 15 December 1887 — The Treasury Department. [ARTICLE]

The Treasury Department.

The Secretary of the Treasury, in his annual report submitted to Congress, Wednesday, says that the total ordinary receipts of Government during the year ending June 30, 1887, were $371,403 277, and that, the total ordinary expenses were $315 835.426, leaving a surplus of $65,567,849, which, with an amount drawn from the cash balance in the Treasury of $24,455,720, make k total surplus of $80,023,570,which was offered to the redemption of bonds. The receipts tor the year show an increase of $84,963 550 over the year before, and the expenditures show an increase of $25,449,041. For the present year the revenues are estimated at $383 000 , and the expenditures at $316,817 », leaving an estimated surplus of $66,. 214 June 30, 1888. The Secretary estimates the surplus for the year 1889 at $56,469,206. In regard to the surplus reveuue, the Secretary says: Taxation and currency reform were the questions which ray.distingnished predecessor deemed to be of most pressing imporiaoce,and to them he devoted a large part of the two annual reports which he made to CoDgress. I find the same subje, ts to Oe still the most important of aS those to which it is my duty to call your attention. and it is not nece-sary to do otherwise than follow the general lines laid down by him in treaiiug them. Circumstances have (tightened the immediate urgeney of »axation reform as affecting the surplus revenues of the Government The urgency is so great tha the question of K nr plus revenues detnandt the earnest attention of both the legislative ami executive branches as the Government. The Secretary then gives’the following ways in which the receipts and expenditures oi the Government may be made about equal. 1. The purchase oi tha interest-bearing debt of the Government. 2. Larger exfienditures by the Government for other purposes than the pnrehase of the bonds, so that they shall each year equal the taxation « that year. 3. Reduction of the revenue from taxation ta tte amount actually required to meet the necessary expenses. All of these expedients have in common the one merit of preventing the derangement to business which must follow hoarding or locking up In the Treasury the circulating media of tfes people. The Secretary argued against the abolition of the tax on liquor an 4 tobacco.