Evening Star Newspaper, December 2, 1890, Page 6

6 NATIONAL FINANCES. Annual Report of the Secretary of the Treasury. THE SEPTEMBER CRISIS. How Serious Disaster was Averted by the De- partment—The New Tariff Law—Silver Op- erations—Estimates of Receipts and Ex- penditures—Customs Recommendations. Secretary Windom, in his annual report, which was submitted to Congress yesterday, states that the revenues of the government from all sources for the past fiscal year amounted to £163,963,080.55, while the expendi- tares for the same period were £358,618,584.52. The net surplus for the year, making certain allowances for t parchases ard other things, w a net increase y expenditures « The revenues for the present year are estimated at £406,000,000 and the eapenditnres at $854,000.00. revenues for 1892 are estimated at 000,000 and the showing a surp ‘The ‘The iner mates for 18 under the T8107 000 increase; naval establishment, increase; exeentive establishment, x increase; Indi: 042.500 increase: military estab- 000 increase: making a total of The lance of the increase is due | ited expenditure for redemption of k notes and for bounty on the pro- suger, less a decrease of = od. in the estimate for interest on the publ ia further de e of about heads of tive der the operatic Jnne 10, 1460, by the preven ations and the clover collee- will materially increase the d that au alditional eol- of revenue, lecti« than eighteen million will be ob ians. Upon this ba for the year is put dow » dollars, year 1892, is based at over 250,000 of the claimants uder old laws have availed them- claims Claims pre- | w will draw a less Y arrearages for only a small mounts, while under ws ukiny of them carry very large nt many of which will have been | "1. ‘The transfer average annnal | ction in the amount at =10,000,000 | it is esti- agencies, quarterly <l_into three groups, each group paying at a different time, so that the drain on the treasury shall not’ be so simultaneous. SINKING FUND. Under the requirements of the act of Feb- Tuary 25, 1862 (Revised Statutes, sections 3638, 3689), establishing a sinking fund for the gradual extinguishment of the public debt, there have been purcha of July, August current fisc $ Joan of 1991 and $16, ptember and October of the $27,858,100 of the funded 4,000 of the funded loan 4 for preminm and 2 on. the latter loan ‘und, by the ctional currency, treasury { States bonds “which the sem of $8, 784.97 applied to the umated requirement for of 1907, ata cost to the fu anticipated inte former and SURPLUS REVENUE. The surplus revente was largely increased last summer by the pending changes in tariff legislation. And the available balance in the treasury was ly augmented by the act | ot July 14, 1890, which transferred over $54, k-note redemption fand to This sudden end abnormal increase was the cause of much concern and some embarrassment to the dey © prevent an ux cummilation of money | nd consequent commercial ¥ two methods wer mely.todeposit the p xpedient and «+ continned. p ited States bonds | ct that the sudden as compelled the | ult. to obtain them in sufticie fair prices. mt of $end 43¢ per cent bonds and redeemed xince Mareh 4, 1549, © purchase of larg ery ati and the total saving of 06.01. OBMETIONS TO A LARGE SURPLUS. Secretary continues: There are many objections to the accumulation ofg large in the treasury, andLespecially to the power which the control of such surplus gives to the Seer I am sure those objections eal 1 with so much force us to the | of the department, upon whom rests the sutticult aud delicate responsibility of its ad- n y judgment, the gravest defect in our Prevent financial «\stem is its lack of elasticity. he national banking #¥stem supplied this de- fect to some extent by the authority which the bauks have to increase their eireulation in times of stringency, and to reduce when money becomes redundant: but, by reason of the high price of bonds, this authority has ceased to be of mueb practical value. ‘The demand for money in this country is 40 irregular that an amount of circulation which will be ample during ten months of the year will frequently prove so deticient during the other two months as to cause stringency and commercial disaster. Sach stringenc occur without any speculative sai of money, though unfurtunately it & tensitied- by such manipulations. The crops of during the months | two items, viz, $45.926.184.73, left an actual available surplas of oniy $56,217.321.25. The jount of the bank note redemption fund then in the treasury, which had been transferred to the available funds by the act of July 14, 1890, Was $54,000,000. being substantially the amount of the available surplus on September 10, 1890. This bank-note fund had been in the treasury in varying amounts for many years. In A\ 1887, it was £105,873,095.60. which had been gradually reduced by disbursements to the amount above named. It is apparent, there- fore, that the financial stringency under dis- cussion was not produced by the absorption of money by the treasury, but by causes wholly outside “of treasury operations. At the time when -the financial pressure in Sep- tember reached its climax the extra- ordinary disbursements for bond pur- chases had substantially exhansted the entire ordinary treasury accumulations, and but for the fact that Congress had wisely transferred the bank-note redemption fund to the avail- able cash, there would have been no money at command, in the treasury, by which ' the strained financial conditions ‘could have been panic and disaster in the banks in- e treasury the business of the try would have been adjusted to the i creased supply, and when the strain eame it J have been impossible for the banks to The government could not have with- it from the banks without compelling a contraction of their loans, and thus diminish- ing their ability to give relief to their custom- ers. The more recent financial stringency in November. immediately after the disbursement of over $10,000,000 for the purchase and re- demption of bonds within the preceding four months, furnishes another forcible illustration that such stringencies are due to other causes than treasury operations. ‘THE NEW TARIFF BILL. Of the tariff the Secretary makes some im- portent remarks. He says: ‘The purpose of the tariff act of October 1 last was to effect needed reduction of revenue and such an adjustment of duties ax would ely foster and en- courage home industries while maintaining the standard of American wages. ‘This end, it is believed, has been accomplished. More arti- cles than ever before have been placed upon the free list, rates have been reduced on many oth- nd’ increased duties have be ion, the accumulated ic resonrces of the tain that, for ma rs to come. the home market will be a bet- ur own products than all others | 1. This very superiority of the United a market is an inducement to foreign | P ‘everywhere to seek access to and control of it. To permit our own producers to be driven ont by foreign competition would be to expel them from their best and most netural market el them to seek inferior com- | petitive m: isewhere. Free trade can never be su established or perpetu- ated in any country whose home market for its own products exeveds its aggregate markets abroad. RECIPROCITY IN HARMONY WITH PROTECTION. The provisions for the advancement of re- ciprocal trade with other countries, as contem- plated by the law, are not hostile to. the prin- ciple of protection, but are believed to be in har with it. ‘ihe Liw has been too short atime in opera- ion to warrant discussion herein of its m: ils. Itis believed that the measure sound in principle and that its cation i “i upoa a e view of the t interests of the whole country. The law embraces so many and such complex interests that itis quite possible a practical test may disclose the necessity for and corrections, but stability and certain the revenue laws are so essential to our cial and industrial prosperity that it isearnest hoped this law may « fair trial before die: ome modifi aew industries which it was ected would «pring up under its and the new home markets reby be opened for Americ labor and produets, will ce if any nly fail of real zation, well ability of the law, or of the ection which it embodies. Es the fact if the eoutinned n shall canse seriousappre= hension that the protective principle is to be dis- | <i, and a tariff for revenue only is to be: adopted, whereby our home market is to be ex- changed for an uncertain and vastly inferior foreign one, and the country is to be depicted | of its gold and silver to pay’ for foreign labor and material which should be supplied by our own people. The continuing controversy between the American system of wi d protection and the op . ked indus- trial competition with ull the world is the inev- itable e cilable stand- ards of civilization. The conditions under which we arg enabled to make the the higher standard of living fo1 onr citizens are rly favorable. United States, with absolute freedom of tr: and perfectly untrammeled industrial compe tion among 63,000,000 people, unsur} energy. industry and Inventive genin with the widest possible range of climate natural products, are by these conditions as- sured the lowest range of prices compatible with a reasonable return to producers, and the maintenance of a higher standard of civiliza- tion for the industrial classes. RENEWS M18 CUSTOMS AMENDMENTS RECOMMENDA- TIONS. Tagain urge certain amendments to the laws relating to the customs service, which have Deen heretofore recommended as essential to econ and efficient administration. First. The inerease of the permanent appro- priation for the expense of collecting the reve- hue from custome. : Second. The compensation of all collectors of customs by fixed scleries and the abolishment of ail fees, comm perquisites and emol- uments. Third. The consolidation of customs districts, demanded alike for reasons of economy and the 1 condition of commerce and trans- tion. Fourth. The abolishment of oaths to monthly accounts of customs employes ax unnecessary and as subjecting these officers to useless ex- pense. Fifth. The repeal of the law requiring bonds to be given 1 lividual importers upon the entry of me «lise for ware honse and for the return of packages not designated for ex- amination and delivered to importers in ad- vance of appraiemeut and Hquidation of duties. Sixth. The revision and codification of the customs Laws. Seventh. Legislation to secure railway sta- tistics of foreign commerce. The Secretary further suggests ti number of genéval «appraisers be inasmuch as the business at the port of York is alone suiticient to require the wi number of these officers now allowed by law. PUBLIC MONEYS. Under the head of “Public Mone retary says: ‘The amount of public moneys held by na- tional bank depositaries, including those to credit of the treasurer's’ general account disbursing otticer’s balane was $45.515,991.63. which, cess of the needs of the public service, I have t the er the country have reached propations eo im- Mense that their movement ty market, in Au- { Bust and Neptember, ansnaily em imm a danger- ots alsorption of money The lack of a wufti- | cient supply ty meet the intremeed demand | during those mente may entail heavy losses Upon the agricultural ae well a@ upon other | business iniereete Thigh Suapetal string May occur at any tae, © oa yet nearly all of the zr mes inn Our history have acute? duriug the months | Anke et cone wernt Yt Via made to | ature, like dis- | thy expected. Meet nite be asters ime y ernie vi the safle BUReLee 49% THe MONEY MAMMET Tam aware thet te theory obtains in the Minds of many yorple thatif there were no| surplus in te seury & mufticient ant of | Money wouls Le in circulation and hence no | stringency would occur. The fact is, however, | that such «1 has neldum beew produced n, bat generally by some | A for money entirely | Dy treasury iter m OF inuntisl «ber independent of trea tions. ‘The financial pres Which at one time acter, illustrates. t Ler Last, Money in the tr nal revenue tax that could have affected the money market. On from any other source the cor the total disbursements for all winding bond pureheece and inter- Yinents, during the Inet preceding p elaya hist brews alert 9 0KM,000 in Xcess of the receipts frou wil sources, THE REY TEMBER Comune ‘The total apparent surpine on Reptember 10, when the money stringeuey culminated, was ene. OF tie suncant 944,216, 204.96 was on deposit in the tanks, and presum- ably. in ‘cirenlation ‘smog, the and 921,209,379.77 was fractional been in the treasury yuulte tow several yours and was not available for any considerable Dersements. Deducting ‘the | subtreasury on or be J opera- | and the payment of deposi din ‘came of thew | endeavored, as far ax practicable, to reduce to the amount necesary to be kept with such de- positaries for the business transactions of the government. Touccomplixh this purpose with- out seriously disturbing the business of the eople. who muy have been borrowers of these Repositaries, by any sudden’ withitawal of large amounts, each depositary holding a ublic money in excess of that needed wax noti- ied on November 30, 1889, to transfer to pre January 15, 1890, an amount equal to 10 per cent of the excess, or, if preferred, the whole amount could be trans: ferred at once. ‘This gave ample time for the adjustment of any business changes made necessary by the withdrawal of funds and re- sulted in a reduction of about £9,000,000. A similar notification was given January 23, 1890, allowing until March 1, 1990, to make the trans- fer, which resulted in # reduction of about $6,000,000. No further notifications for with- drawai have yet been made, but the holdings of the. depositaries have been further reduced by the purchase aud redemption of United States Donds held in trust as security for deposits its with the deposi- taries {rom the proceeds of tho purchases or ro- demptions, so that on November 1, 1890, the amount held by banks was €29,97,687.68, a re- duction since Mareh 1, 1889, of 718,881,303.95. IT INCREARED THE. CIRCULATION. ‘The entire amount thus withdrawn from the banks was in excess of the needs of the public service with those depositaries, and wax used in payment of United States int bouds purchased either from the banks re- Mnquishing the its or from others, and resulted in saving to the government, by reason of the purchase of these bonds, and’ the ©0 juent stoppage of interest, of about $iu0,000 per aktium. ‘Buch withdrawal. also increased the circulation, for in no bank allowed to hold ‘public funds amount of the market value of the United culver, which had | tates bonds furnished as security therefor. per cent bonds a balance to par wed, and on 4 per cent balance equal to 110 por cont of face value, so that for On 43 was each $100,000 withdrawn from the banks pay- ment from the treasury was made for amount of bonds, i jum st an average rate of 1053g for 434 per cent ai for 4 per cent Dewte eee returning. to the channels of trade the amount of the it, and from ,000 to $17,000 additional on each $100,000. ‘The increase of circulation by these operations was about $2,000,000. ‘The amount now held by the national bank depositaries is still in excess of the require- ments of the public service, and further with- drawals will be made whenever it can be done without detriment to business interests. FORMER OBJECTIONS HOLD GOOD. Some of the objections, believed to be con- elusive, against this method of restoring the surplus to circulatigh, were stated specifically in the Secretary's last annual report. Subse- uent experience has confirmed the convictions then expressed, that this policy is unwise and inexpedient, and should never be employed ex- cept as a last resort. uring the recent financial stringency the Secretary was frequently urged to adopt this method ‘of reducing the surplus, but he de- clined to do so for the reasons sinted in said re- port; and also for the further reason that such relief was wholly impracticable to meet a sud: den emergency. ‘The law does not permit the transfer of money, once covered into the treas- banks for commercial purposes, and it ifically forbids such transfer of money re- ved from customs duties. The only anthor- ized method of making such deposits is to designate certain banks as depositaries of pub- lic moneys, after which they may deposit United ‘States bonds to the amount designated, and then be authorized to receive such funds as may be thereafter collected under the internal revenue laws. This is necesmrily a very slow process, which would require severn! weeks, if not months, to produce any ubstantial effect upon the cireulation. Such a policy would cer- tainly prove a most unsatixfactory way of affording relief to the business interests of the country in an impending commercial crisis, There are doubtless some defects in the inde- ndent treasury system, but an experience of forty-four years has, in’ my judgment, fully demonstrated its superiority to. the bank-de- posit policy, which it superseded. It is worthy of observation that the policy of affording “re- ief to the money market,” now so much criti- zed in certain quarters, is by no means a new thing. It has been the uniform policy of the government, when possible, in all commercial crises from 1846 to the present time. The difti- culty which the department has encountered during the last year in withdrawing a part of our present bank deposits, even by the careful amd conservative methods adopted, and at times when there was no financial pressure, gives some conception of what those difficulties would be in making such withdrawals in times of stringency and commercial distress. ‘The | experiences of 1837 would be repeated, more or lesa, in ever, reinl crisis, 8 TO CIRCULATION. The Secretary presents certain tables with remarks on the subject of “circulation,” giving some valuable facts. Table No. 1 shows that during the last twenty years the net aggregate increase of money in actual circulation among the people was ¥727, 760.709. Average monthly increase during th: $3,032,336. Per capita increase, $4,991. ‘Table No. 2shows that for the last ten years the aggregate increase has been 476,039,014. Ave monthly increase for eame period, 66,992. Per capita increase, €3.592. Tabie No. 3 shows that for the period of nine- teen months from March 1, 1889, to October 1, 1890, the aggregate increase has been $93, 866.813. Average monthly increase period. 358. Pe ita ii Tab period of nineteen months to October 1, 1846, the aggregute de ci rion among the people was e monthly for same "period, 50.500. Per capita deerense about 40 cents. Table No. 5+hows that for the period of three months from July 1 to October 1, 1890, the aggregate increase of circulation in actual ig the people was © 9. Average for same period of three 778. ‘ious changes in the amounts, in actual circulation among the people, were caused partiy by the additions of new k money. partly ‘by the retirement of certai other kinds, and sometimes very largely by the policies pursed by the ‘Treasury Department. he policy of hoarding in order to show a vi large surplus decrease of circulation shown from 1885, to October, 1496. The opposite policy keeping the surplus as low ns practicable by the purchase of U States bonds and there ing interest and at the sume time returning the money to the channels of trade largely accounts for the remarkable increase in circulation during the Inst nineteen months, as shown in tables Nos. 3 and 5. SILVER OPERATIONS, ‘The recent silver operations of the depart- ment are detailed and the results sumined up us follows Under the operations of this lay the amount of silver purchased from August 13, 18: December 1. 1890, aggregated 16,774,155 fine ounces, costing $18,671,075, an average of 1.1128 per fine once. The price of silver advanced radidly after pawage of the new law, indeed, the immé diate effect of the law hed been largely ant pated in the advance in price prior to its pax- BAe. On. the Ist of July, 1890, the price of silver was 1.046. To Jule 14 the price had advanced 5, to Augusf 13, £1.13, and to September . the highest that date int reached. re has been a decline, ms, to the present time, the pi ing as low as $0.97. Notwithstanding the fact that the advance in the price of silver following the passage of the law has not been maincained the Secretary ventures to express the belief that the new sil- ver act isa great improvethent ove: the law repealed and that its beneficial results will eventually commend it to general approval. As yet the period of time has been too brief to re illy test the merits of the law and_ the per- nt effect which it will have on the price of silver. One thing is certain, that it has been the means of providing a healthy and much-needed addition to the circulating medium of the United States. ‘The amount of treasury notes issued on pur- chases of silver bullion from August 13 to November 23, 1890, has been $18.80; FLUCTUATIONS OF SILVER. It must be apparent to any careful observer of the movement of silver that the recent iolent fluctuations in price are majnly due to xpeculative operations in the large surplus of from eight to ten million ongces, which has not becit absorved by treasury purchases. Thin downward tendeney has been materially us- sisted by asevere and almost constant strin- Beney This surplus was accuimulated, in the first instance, by the wit holding from the market, by producers speailators, for some months prior to the pasauge of the new silver uct, of the current product of American silver,’ in the hope of securing a better price. It has been mainte: and augmented both by importations of foreign silver end by a falling off in the export of domestic silver, the latter occasioned doubtless thefuct that in the purchases of silver under the silver law, the Treasury Department has paid, as a rule, a price considerably in excess of the price of silver in London. "The imports into the United States of foreign silver from May 1 to November 1 of the present year have exceeded the exports of domestic silver by some £7,750.000,while for thefcorrt- sponding period of last ‘year the exports ex- eveded the imports by some 27,460,000, a diffe tence of $15,610,000, an umount in excess uf the value of the present visible stock of silver on the American market. So, too, in regard to the movement of silver from Sen Franci: to the Orient: not one ounce of silver bullion bas been shipped since the Int of May, against an aver- age export for prior years of from $5,000,000 to $10,000,000. So that the present surplus’ stock of silver may at any time be augmented by im- ports or diminished by exports, and as the cur- rent product of silver from our mines does not differ very widely from the monthly purchases by the government it is probable that the ex- isting surplus will remain for some time an im- pediment tothe permanent and steady ad- vance of silver. Even if the present surplus should be purchased by the government im- portations from abroad might at any time ac- cumulate an additional stock of silver, the manipulations of which by speculators would result in wide fluctuations in price. Had the law provided for the purchase of only the luct of the United States this surplus woul Rave heen absorbed ere this, and as none wor have been imported for speculative of the money market. EE no surplus would have been accumulated. The withdrawal of the entire silver product of our mines and smelters: which amounts to near one-half of the world’s annual output of silver, would pro! ind thisin verh would Gouen’ amet manent advance in price. GOLD AND SILVER CoragE. The Secretary calls attention, to the act of May 26, 1882, authorizing the exchange of gold bars for gold coin free of charge at mints and at the United States New York, and sys: Iam of this act has facilitated aa B 3 recoinage of the subsidia: There were on Oc sidiary silver coins in the of the value of €19,545,362.71, of which some $600,000 were actually uncurrent, and « — of the remainder consisted of coins F authorized to be issued. CANADIAN RAILWAY TRANSPORTATION. ‘The Secretary's attention has been frequently directed to the unsatisfactory conditions of Canadian railway traffic with the United States, and many complaints hare been made that the tober 25, 1890.. ant tions of this department touch- ing the bonding and sealing of cars discrimi- nate against our own people, It is manifestly unj to accord Canadian railroads privileges denied to our own. It certainly was not the intent of Congress to relieve those roads from obligations imposed upon our own transporta- tion companies. Yet the practical working of the law, under the construction insisted npan by the Canadian companies, leads to that re- sult. If their construction ‘be accepted Cana- dian railroads, not under bonds for the Pose, may transport dutiable merchandise from seaports in Canada to places within the United States with only nominal customs supervision, while our own railroads cannot carry like mer- chandise from Atlantic and Pacific ports in the United States to points wholly within our own territory except under heavy bond and strict customs control. It isalso urged with much earnestness and force that the combined effect of the interstate commerce act and treasury regulations operate greatly to the disadvantage of our own trans- Rortation interests in competition with Cana- dian lines. ‘Those who make these complaints insist that the conduct of the Dominion govern- ment toward our transportation and other in- terests, both on the land and water, does not eug- gest any ground for the extension’ of favors on our part, and they protest against such atts of international courtesy at the expense of the very interests which Canadian policy has per- sistently sought to destroy. Several heariny have been given to persons interested in this subject, which will receive careful consideration with a view to removing, as far as proper and | Bructicable, any Just cause of complaint against | the action of this department. THE AMERICAN SHIPPING. Tables are giving showing that the percent- age of imports and exports to and from the United States carried in American vessels has decreased steadily from 70.5 in 1857 to 12.29 in 1890, The Secretary continues: It is impossi- Vie to present a stronger argument than is contained in the above figures for vigorous and efficient measures in behalf of our tapidly van- ishing foreign merchant. marine. They “show that the relative decline in our foreign’ carry- ing trade has been constant and alarmin ‘This decline has averaged 13; per num since 1857, until in 1890 the imports and exports carried i vels was less than in any year since the forma- tion of the government. “These figures appeal alike to our national pride and our national in- terests.. The folly and the danger of depend- ing upon our competitors for the means of ac- cess to foreign markets need not be stated. The humiliation of witnessing the disappear- ance of our flag from the high sens, withont one effort to restore it to its former proud position, cannot be expressed. Surely no aubject is of greater importance than the enlargement of our foreign marketsand nothing will contribute | more to that end than the command of ample facilities for reaching them. Aid to our mer- chant marine is not aid toa class, but to the farmer, the manufacturer and the merchant, as well as to the shipbuilder and shipowner. ‘No interest is more thoroughly interwoven with all and prote 80 vigorously and effectively assailed by foreign | governme or 60 persistently ignored and | neglected by our own. The reasons for our | present huniiliating position are well known. he remedy ix plain easily within onr | | power. In the Sect 1889 are sta resent cor tions and the practical remedy | for them. ‘These recommeniations are now re- newed and respectfully urged apon the prompt and favorable consideration of Congress. THE METRIC SYSTEM. about the metric system of weights and measures was uption: lished b Iv estab- | yy law in 1866. Since that time it has peoples, and its use in thi strongly urged by the international, American | | conference lately in, session at Washington. Upon consideration of the matter it is recom- ded that the metric aystem be made oblig- atory in transactions at our custom houses from and after the first d year 1895. A statutory provision to that effect would doubtless lead to the generel adoption of | the system by the public, unaccompanied by | serious inconvenienc DIMIGRATION SHOULD NE RESTRICTED. On the subject of immigration the Secretary says: olong as undesirable immigration was a matter of rare ocenrrence and desirable im- migration the rule, the rational policy was | pursued of permitting all to come 16 our | | shores who dexired to do so. The condi tions are now materially changed and. th tendency of Congress, ‘as siown by the alien contract, panper and Chinese exelusion acts, has been to limitand restrict immigration. | It'is a matter of public knowledge that trans- portation from any part of Europe to our At- | lantic ports ix xo cheap and easy us practically toexclude none, and the consequence is that our asylums for the poor, the sick und the in- ons ure crowded with strang- ¢ upon the public may be eaid h their Innding. ther legislation is needed to. exclude per- sons unfit for citizenship and itis therefore recommended that all immigrants be required, usa condition precedent to their lauding, to produce evidence attested by our consular offi- cers of their moral, mentas ind physical quali- fications to become good citizens. Our country owes too much in greatness and prosperity to its naturalized citizens to wish to Impede the natural movement of such members of society our rhores, und it is an additional argament in behalf of the proposed plan of certificution that it would lend. en agement to the continuance of such addition to over population. And further— ‘The defence of our wage workers against unfair competition is 40 essential a part of the industrial protective system of the country that ing should be left undone in legislation or tration to make it effective. The law (alien contract Iubor) should, however, be amended, as suggested in my list report, so. as to relieve clergymen, tea and scientists atures. gex that attention be e need of some legislation for sec! il of titles to re: from its prohibitive The Secretary u to th nga I estate now owned or by the United States, provi ble means for examin- tiller, periecting those which are de- ad for the ree of property wrong- eld from the Upited States. the law under which the world’s fajr commis- sioners were appointed, In accordance with the provisions of section 18 of the act there have been approv November 14, vouchers for contingent expenses of the commission amounti ng to 26,539.66 and for the departmental board authorized by sec- tion 16 amounting to $204.85. The total expenditures for November 15,180, are as follows: ‘Traveling expenses Subsiste Contingent expenses Expenses departmental board. Sularies.. be Il purposes to - $11,366.91 + L185 294.85 + 8,128.73 240,511.40 A large number of the commissioners who have uttended the meetings of the commission have fuiled to submit any accounts. It is exti- muted that such accounts will npgrerate £0,000, ‘The total expenditures and linbilities to No- vember 15 will be about £47,000. DISTRICT YINANCIAL AFFAIRS. The District of Columbia has a page in the report. The secretury says: 1800 $28,450 of the 3.65 Intnctlon. of judgments of Court. of "Claims against the District. There have been retired § i i il : i HI ies / : i | i i i i ! | z others, or more worthy of the fostering care | been ion of the nation. None has been | i” # become obligatory among nearly all civilized | country was | of the calendar | ‘aluable | A brief report in made of the operations of | ! | outside of this territory | etre quirements of law respecting the collection of money for political purposes from government employes. ~All poe employes, regardless of political preferences, have been and have ap- Parently felt quite as much at liberty as other citizens to contribute or refrain from contrib- uting for the benefit of the political party of their choice. Attention is invited to the accom- Rinsing report of the bourd of examiners of is department. ASSESSMENTS AND REVENUES. An East Washington Committee Makes Report on the Subject. INSTANCES GIVEN TO SHOW GREAT DISPARITY BETWEEN THE ASSESSED AND TRUE VALUB OF REAL ESTATE—HOW A NEW DISTRICT ASSESS- MENT WOULD INCREASE THE INCOME. The consideration of the report of the com- mittee recently appointed on equalization of assessments and District revenues was the principal business before the Northeast Wash- ington Citizens’ Association when it met last night. In the absence of the president, Mr. Dawson, Mr. Duncan Thompson presided. Mr. Weller, chairman of the committee to re- port on equalization, with especial reference to the deficiency in revenues, presented ite report, which was read by Secretary Sperry. THE REVENUES AND THE ASSESSMENTS. The report says: The deficiency in District revenues has been officially made known. Of the other evil, the inequality of assessments, people generally are not so well aware. To demonstrate its existence, to illustrate ita ex- tent and to propose a remedy are the objects of this report. Upon due,consideration it appears that the remed.in, suffice to remedy the other—that is to say, that the proper equalization of assessments in the District would produce an adequate i the District revenues, without any increase in the rate of taxation. ''The most conservative estimates of those who have examined the sub- ject are that such equalization wouid result in | un increase of revenue to the amount of 9500,- 060 per year, not including government appro- priations; and your committee incline to esti- mate a larger stim, Active atteni cially fitting fo cause onr as and most active of all the citizens’ associations District, but because the territory it rep- all that portion of the city and reset |. District lying east of a line drawn north and | south through the center of the Capitol, «fiers doubly from the existing evils; once in the fact that the property assessed too low is mainly and secondly, in the fact that, while thus bearing an unequally lar share of taxation, this territory is now, by the deficiency of District revenues, cut off from the hope of soon receiving its fair share of improve- ments long expected but hitherto delayed. The matter of legal exemption of certain property from taxation your committee have The Secretary hax also something to say | not undertaken to consider, because there | The metric system | ms to be g eral acquiescence in the prin- ciple, if not entire approval, and because, ad- | mitting the principle itself, we are not aware of anty special cases of injustice or inequality. to the inequality of axsessment of prop- hot exempt from taxation, our investi- | gations lead ux to the conclusions that, while the modest residence portions of the south- west, southeast, northeast and parts of the rthwest quarters of the city are assessed on vernge at about 60 per cent of true value, the assessment of property along the main ess thoroughfares of the northwest quar- ‘ages lexs than 15 per cent of yalue, and Ke assesment of unimproved subur- ban property is only about 10 per cent of value unsubdivided. CASES IN POINT. In support of these conclusions the com- mittee submits tables, giving instances from official records of land values and assessments. Of land in the county assessed as agricultural land, taxable at £1 per $100 of value, among the i i one piece assessed at 50 per acre and whose trne value ix £6,000; another assesked at $60, valued at $1,000; an- other assessed at $53 to 570, valued at =1,000: another assessed at $150, valued at $1,500: un- other assessed at $100,’ valued at $800; three assessed at 5125, valued ut assessed at £400, valued at £2,000." Other prop- erties in sections of the county where property ix known to have attained ‘a high value and which is assexxed ut from £40 to $300 per acre. Of these county properties the report says: “On a conservative estimate it would be safe to assume that. on ar average, the assessed value of any of these properties, except the lust six, is ‘not. one-tanli af its trae value, as ind?” cated by sales, public and private, made within twelve months after the a: these lands have been subdivided into buildi lots aud improved, nevertheless such lots will continue to be assessed as agricultural land at the rate of $1 per $100, the above valuation, until June 30, 1892." jer the head of business property differ- ent properties on F street from 9th to 15th are mentioned, the assessments ranging froma $4 to | #7 foot. ‘One piece ansessed for 86 was sold, the report says, for $60; another assessed at $5.50 was xold for #39 seven months ago. In- stanceaare given of busines properties on @ street, Pen ia avenue, $th street, 7th nd L avenue, the assessments ranging from ¥1.60 for property at G and 13th to =11 for ground at 9th and Pennsylvania nue. One piece on G near th, aswerwed at 22.50, was sold, the report says, for #23.50; an- other at 14th and G, atsessed for $2.75, was sold for #23.50: two pieces at 1th and G, assessed at #2, the report sayxare cheap at £35. ‘These roperties, the committee says, would realize ‘rom 400 to 1,000 per cent more than their as- | wessed values at public auction under adverse circumstancer. ‘The statement contains also instances of ul- leged great Cispurity between the assessed and true value of land in the twelfth assessment dintrie ments range from 2 cents a foot to 40 cents a foot, while the true values are given as ranging j from 40 cents to £1.25. ‘The mai portion of the land held in the twelfth assessment district for speculative purposes, the report sa notoriously undervalued, the. aswensmont bear- ing no comparison to selling prices. NOT THE MEN, BUT THE. SYSTEM. “Notwithstanding the great inequalities herein shown,” continues the report, “we make no charges against the assessora of 1889 or thei predecessors. Errors of judgment they cer- | tainly made, but the roots of the evil are in the ui law iteelf. Under such a law injustice is in- evitable. A triennial assessment of rec] estate, for example, might do tolerably well in regions that remain for years without improvement or change, if there are any such regions in our rogremsive country; but it is not tolerable in a lerge and raptily growing city, whore not only the speculatiye but the actual value of prop- erty changes with every year, and, perhaps, with every month. To illustrate how far from equity the operation of the present law isin this respect it need only to be mentioned that roperty is continually being subdivided, sold Ey the cquare foot at Trapidly'rising prices and improved by handsome buildings oe min sesved at the especially low rat $100, te agricaltural land, and this state Of ¢ eigte on nears more. nearly ap) y yeuly ‘anvesemente, but it ‘canbe. actually se- cured only by a permanent board of aseewors in continuous service, always keeping them- ‘Ives posted to of value, and al- ‘ways ready to hear complaints and rectify er- “To justly determine the value of real estate in an; ‘ty. and eopectally ‘of com- Teg sequree nat only the very bet Jug v ait -igiy: cal knowledge of Telative valuon If any one would ‘realize tis more fully let him consider how men there are whom he would commission to invest for him 9 few thousand dollars in real tirely by their mist possess are m and equitable assevamenta hired for af ‘be hired for afew: a day. any must and paid fair ealaries. of this evil would of itself; crease of | 1,000; another | exsment. Some of | } East of Lith street enst the assess- | 4 PERMANENT BOARD OF ASSESSORS. “Bearing in mind these considerations and others which it is neediess here to suggest, Your committee submit that the ect of March 8, 1883 (chapter 137, second Forty-sev- enth Congress), under which seacenments i the District are now made, should beso changed as to provide for a board of five assessors, to be appointed by the President upon contirma- tion by the Senate, for terms of five years, in such manner that not more than one et ment should be made in any year after the first except to fill vacancy. Their salaries should be not less than $3,000 each per year, and they should be in almost daily public session without other duties. One assessor should be appointed from each of the four guart- ersof the city and one from the’ remainder of the District, but the official power of each should cover the entire District equally with that of the others. Each should have continu- ously resided in the section from which he is appointed not less than five years next preceding his appointthent, und each should under bond of $25,000, secured by approved residents of his own section exclusively. They should be removable from office only for cause shown and the power of removal should be vested in the District Supreme Court. These assessors should be required to keep themselves fully informed by actual view, by Teports of auction and othr sales and by all other reasonable means a: to the true values current of all reel property in the District. The tax being once levied in any year of course no change should be made in that year's taxation, but otherwise than this the assessment lists should be subject to their revision constantly. ‘The first general assessment made by this board should be published in full in one or more of the city papers, and every change in that assoasment should be likewise published in the first week of June annuaily thereafter at a reasonable price fixed by law. In any case of dispute as to valuation, the concurtence of the full board should be ‘necessary to a decision, though in the event of an unforeseen vacancy or other emergency a less number might be : but in case of dissent among cht of appeal shoald lie within fie period to-an appeal board within a reasonal composed of the District attorne} axsexsor, auditor and inspector of public build- | ings, whose services ax such should be without -ollector, additional compensation, and whose decision should be tinal, and rendered within a reason- able time. “The plan thus outlined would.as we believe, | afford ax near an approach to absolutely just 1 equal assessment as it is practicable to ob- in; and we can suggest no other sufficient remedy for the evils under consideration. If it be objected that this plan would involve addi- tional expense, we answer that it is difficult to estimate the value of justice, but that the dif- ference between the aggregate expenditures for assessment under existing laws and those in- Yolved in the plan herein sngzested would | make but a small percentage upon the sum of | more thin, $2,000,000 raised inthe District by | taxation of real ‘estate alone, or even upon | the £590,000 or more, which it ix believed would be added yearly to the District revenues by an equitable assessment, from this source alone, without any increase in the present rate of tax. ation. And every good will more cheer- [fully bear his burden of taxation when he | knows it is fairly shared by al “We therefore recommend that our delegates | to the citizens’ representative committee of one | hundred be instructed to submit this report to that body at the earliest practicable date, and invite its active co-operation in an effort to ob- tain the legislation herein proposed: that eopies of this report be forwarded to the several | auxiliary associations with a similar request, and that a committee tion be appointed to wait upon the District Commis- sioners and the District committees of the United States Senate and House of Representa- tives in favor of the enactment of this proposed amendatory legislation.” CASKS TAKEN AT RANDOM. Mr. Weller supplemented the report with a few remarks. In the eases presented the com- mittee, he said, had not selected special cases, but had examined cases at random. Mr. W. W. Hubbell wanted to know if the | values of land reported carried with them values of the improvements. Secretary Sperry replied that they did not; that the values indicated were land values. Mr. F.8. Obold raid he thought the rej was Wrong as to that clause which stated the fault of unequal assessments was due to the sys- tem and not the assessors. He referred to the assessment in his district, where he claimed the | assessor ran his property up twenty per cent | above its value. Mr. O. 4. ifillam thought the better plan was to retain the regular board of assessment and | have a supervisory board, to be chosen from the | several sections. The regular assessors would | make their report to this supervisory board and the cssessment could then be reviewed and equalize ‘The report was adopted without further dis- cussion, OPPOSED TO THE ONE-PAYMENT SYSTEM. Mr. Weller offered a resolution, which was adopted, declaring “that the proposed chang. toarnual payments of taxes instead of se1 annually, as customary at the present time | Would be detrimental to the welfare of the tax payers, aa it would impose additional burdens in the loss of interest. besides withdrawing an excessive amount of money from circulation when most needed without conferring any compensating benctits.” sonata SPSS: Words Followed by Blows. Messrs. F. F. Mara and E. L. Jordan are in the employ of Uncle Sam at the burean of en- graving and printing and they recently had some words which were followed by Slows. The trouble occurred at Mara’s house and Jor- dan paid $10 in the Police Court for his fun. | Mara was not satistied with that disposition of the case and he procured a wurrant charging Jordan with threats and that case was hear in | the Police Court yesterday. The trouble was | caused by an outsider, who told Jordan that | Mara had made a statement reflecting on a member of his family. Mara denies that he ever made any such statement. Judge Miller | disposed of the charge of threats by putting | Jordan under his personal bonds. wanes Affairs Up the Metropolitan Koad. Correspondence of the Evening Star. Kexsxorox, Mp., November 30. Our town has presented a very active ap- | pearance during the present month. A large number of gales have been made and every trair brings us parties who are looking for homes. Dr. Wright kas commenced his new house on Detrick avenuc. Mr. Mencko is just about completing his and it is one of the finest on the Metropolitan branch. Mr. W. H. Gaines of the ‘Treesury Department will soon commence the erection of a residence at the corner of Montgomery avenue and Kent street. Several parties are interested in the organization of a new Presbyterian church and will hgld a meet- ing next Wednesday evening, The committee on the library have had plana pi for a new building. Undoubtedly ing will be done in this digection within a xhort time. ‘Mr. Newton, the carpenter, is building a new house on the north county’ road. The news raternit now represen: our Taiant by the uequiaition of quite a te ny i | of the constabulary would be these proposals, Siders ames 4 Dubois and Franke 02 | penter. have | E sree u ! ! i i“ i Hl 4 7 MR. PARNELL'S REJOINDER. The Irish Leader Keplies to the Attacks Made Upon Him. HE HANDLES HIS OPPONENTS WITHOUT GLOVES— | NE URGES THE NATIONALISTS TO.BE TRUE TO THEMSELVES—HIS FRIENDS MRARTILY CHEER After Mr. Redmond had concluded his re- marks in the meeting of Irish nationalists in London yesterday, after the report in THE Evexrxo Sram closed, Mr. Parnell addressed the mecting. He said in effect: “The time has come when I must speak out against the oppo- | * sition within our party which has been created by Mr. Gladstone's letter. Those re- At 11:30 tho meeting adjourned until neon today QUITE A LIVELY soewe. Quite a scene occurred just before adjourm numerons short «pecchos, recrimnatory exclamations and interruptions Mr. Parnell, g the question to adjourn, declared that aves hed it withont asking for th Mr. Healy protested, Mr clared that the motion to adjoarn was carrted Mr. Healy then moved that Mr. McCarthy take the chair Great cheering greeted the motion. Mr. Parn not left the chair Mr. Healy—“Then put th Mr.Parnell—“‘I am bet going ing challenged by Mr nen nell dex tic ing to have my ral- sponsible for the division in the party appear to forget what is due to themselves, to their country and to me. The men whose ability has been the most conspicuously exercised against me, Messrs, Healy and Sexton, will have to bear their responsibility in all these proceed ings. Mr. Healy hax been trained in this war- fare. Who trained him? Who mw his genius? Who telegraphed him in America tocome Who guve him his first chance to enter publ life and got him « seat in parliament, prompt g. rebnking and restraining him? “That Mr. Healy is here today to destroy me is due to my- self. Bus Tam glad he is here even to destroy me. if he understonds the meaning and effect of his proceedings. ‘MR. MEALY'S REMINDER. “Mr. Healy reminds me of his services. He has not been slow to remind me of them at any time. Lunderstand he attended the recent | meeting in Dublin, calling on me not to retire. [Cheers] Who asi 2 Did {Cheers} Who asked Mr. McCarthy to. tra’ y he would be able Did 1 {Cheers} was Rexton «at this same meeting’ Where were you all? Why did you encourage me to come forward and maintain the leader- ship in the face of the world if you were not going to stand by me? “Why did my officers encourage me to take my position on the i act as traitors a: commander-in-c {Cheers} I did not axk them for the certificate of character given at the Dublin meeting. Our position is awkward, but the whole biame for the creation of this position dues not rest with me. A leader-kille: Barry, has been put up to stab me, as stabbed that old lion, Isane Butt, in days gone by. 1 remember well that, though Butt ar- raigned me, I never, by word or deedy coun- seled attacks upon him. Tallowed the old man togodown honored to his grave rather than seek to step into the shoes of a politician, who, however grave his faults, created a great move- ower ment and has given me and many others to participate therein. [Cheers.] What is to be said about the request for my temporaty retirement? Mr. here, told m ld resume the leadership and that the leaders were with me. utes aiterward he astonished me by saying believed I would reject the leadership, (Laugh- ter and cheers. GLADSTONE A GARRULOUS OLD MAX. “T have been asked ubout the conference at Hawarden. Iam told there that Gladstone's communication is not to be divulged to any of my colleagues, vet because I did not denource | his proposals af once Lam accused of deceiving the party. Mr. Gladstone told me that none of the proposals were final. ‘The chief proposal of all—the retention of thirty members in Westminster—was subject to revision. For me it was a question of drafting a bill. It wasa jestion of weak judgment on the part of an ngii-h politician. It was a question of deal- ing with a garralousold gentleman who mon- opolized the conversation, and with whom, as everybody who knows hini knows, it is ditticult to get in a word edgeways. Lefore you vote tay deposition be sure you are getting value for it. On Saiurday we ‘were all agreed that we would fot have this Gladstong vill. (Cries of shear, hear,, aud cheers] Not a’ man here has stid a word in favor of it. Are you suze you will beable to get anything better? It Healy or McCarthy or Sexton sees the way to anything better, for God's sake let them I won't stand a moment in their way. CONDITION OF PARNELL'S RETIRING. “On Saturday © made this proposal to Mr. McCarthy: Let Gladstone, Harcourt and Mor- | ley give him letters declaring that in the event of the return of liberals to power a home-ruk bill would be proposed; by which the control vested in an Irish exeentive, who would be responsible to an In arliament empowered to settle the land qu Hon. "McCartiiy went. to. Dr. Gladstone with ith my assurance that, t I would retire from pu stone hax reported that sions Tad Mr. Gi life will not hold any communication with me as the leader of the =, Mr. McCarthy, (interupting.)—No, no. Mr. Parnell. He ix same proporals were pl erfectly welcome. The “1 before Sir William circumstances will he give any promise what- ish party. Ie- far leader” when Mr. Condon.—Not our leader. Mr. Parnell.—It will not be Mr. Morley. You will not deny that this great mar, Harcourt, whose chain you are going to put cn your necks, has the reversion of the Were leadership. ‘This same man has declared that his limits to home rule are in Mr. Chamberlain's scheme of local govermmen into power he wili give you local government with plenty of coercion, [Cries of hear! hear!] [know what Harcourt will do for you, and what Gladstone and Morley will do. know there is not a single one of the lot to be trusted unless you trust yourselves, ‘o thine own self be true, And it must follow, as the night the day, Thou canst not then be false to any man. “If Lam to leave you tomght f should like to leave you in security. Itis not an unfair thing for me to ask to see yor within sight of the promised land or that I should come’ with, vou. having come #0 far, until you are abso- lutely sure of Ireland and Ican go no further.” An enthustustic outburst of cheering followed Mr. Parrell’s remarks. ‘Mh. MCARTHY EXPLAINS, Mr. McCarthy followed Mr. Paruell. He e: plained how he went to Mr. Gladstone on Sat- urday to reopen negotiations, although he was uawilling to undertake the mission, believing it would do no good. He thought ghe to vettle its quarrels among’ ives without reference to statesmen. Mr. Gladstone told him that he regretted the disorganization of the Irish party, but could not regard him as representing the party and therefore could not treat with him. He would offer no: i i i if E i i the and i s F i F i f i » exton, ata recent meeting | Vernon Harcourt, who replies that under no | If Harcourt ever comes | ty ought ! oll again put in favor i then na majority a debate. Mr n must procec | declared that it would be@ | Physical and mental impossibility to continue and Mr. Healy « "te edjeurn on Ge that the meeting should ter- Several member understandin any understanding with ell, wi pon Healy re It is very hard to have any understanding | Mr. el. » this Mr. Parnell rep “Don't dictate terms to me.” | Finally Mr. acted as mediator and secured nt. i COMMENT ON THE 3 . | The Triegraph calls the meeting « full-dress rehearsal of an Irish parliament, which is showed to be more than Saxon fancy ever painted it, and saya: ~The quence was impassioned an vonfasion and collisions lure were interna: the progress ot bu ‘The ING. e Times say ik» that Mr. Parnell is best nucleus of a mew party and that he still retains a powerful and asful following. | It adds that the point of yesterday's mocting was the wholesale rejection of Mr. Gladstone s proposals, After the adjournment of the meeting Mr. Parnell’s friends expreswed themselves as being more confident of success than eurhier in the day The Standard says: little to attract and those who find the ¢har- ry dixplay ch he fought for supre Id be hard to find a parallel for the annals of parliament. Over a with foes almness and an ait of indi which kept the bol waren The “The An Rates man reflects the g>ex its authors. Parnell’ last msult has been flung | back into his teeth with a spirit worthy of the | Irish race.” ‘Telegrams from Ireland, mostly favorable to Parnell, poured into the meeti: | A brief interview was had with Mr. Parnell | last evening im the lobb: | Regarding Mr. | suid that it complete! “SI | obligation of seer pecting the liberal proposals, but he wo ulge nothing unless e Was vativfied that publicisy would conduce to strengthen the cause of genuine home raie. | The tories claim six additional seats in par- liament as a result of the xplit in the raukx of | the opposition on the Parnell question. Telegrams were read at yesterday's meeting from Messrs. Harrington, Pierce, Mahony, Lolor and Leahy, all of whom supported Mr. P. Gill, one of the delegates now im sent a’ cable dixputch expressing bie personal grief at the action that his conscuence forced him to take toward « leader whom bb | loved and_ to defend whom he would P | his life. “<I would gladly follow him to death,’ says Mr. Gill, “but Teannot follow him to whut seems to me to be dishonor.” He concludes with a request that the dispatch be read to Mr. | Parnell. j THE ENVOYS READ PARNELL SERCH. | John Dillon, T. P. O'Connor und Timothy | Harrington were in Dilllon’s room in the Grand Facitic Hotel in Chicago last uight wh news of Parnell’s gpeech i | clave of the Irish par-: was the Associated Press wires. ‘The dixpateh wax sent rhect by sheet tothe hotel, and was read algnd by Dillon while the others listened in- tently. W ut of the London me “ Obrien and Gill entered with Mra. O'Bsiu and the others withdrew for « few 1 e outlook for Parnell’s re the leadership. Harrington, who w cided good humo ay arnell was as great as J shoul) inter ispatch 1 think more than eventually triumph. Th given lay in @ conclusion is, perhaps, also sig- It Mr. William O’Brien was interrupted for @ moment in his conversation with Mrs. O'Brien | and Mr. Gill, and wax asked to speak for the envoys who signed the protest here against, Parnell. “The question to Mr. O'Brien was: “What do you think now, after reading the | ceedings of today's Loudon mecting—-will Par- nell win or not?” Mr. O'Brien paused an instant, then answered | decisively: “We bave said our’ say. ‘The rest ! we will leave to our colleagues und to the Irish | people. The envoys had planned to leave Chicago y os- Morning, but in response to Justin rthy’s request remained that they | te might be Mr. in easier communication with Dondon Dillon received three cable messes be j 11 and 12 o'clock, but positively declined to di- | Yulge their contents or to talk on the crinis far- | Sher than to say {hat if Purnell resigned oF was deposed, Justin MeCarthy would ten, be placed at the head of the party. = A PROTEST FROM JEENE BRANCH. The following dispatch was sent to the prew- | dent of the Irish National League last night by Jerne branch of the league, aad a copy thereof cable to Mr. Parnell. Jerne branch is one of the oldest in New York city: “To Joha Fit ' 1 ingratitude by throwing | and honest leader, Parnell. who hax done #0 | much for Ireland and for them. That Irish- | American opinion may not be ox misunderstood, we euggost that ba Ase You Trove ‘With ap old sore, ulcer, FOR FIVE YEARS ‘or gunshot wound that re-