Evening Star Newspaper, December 7, 1892, Page 9

_+ NATIONAL FINANCES. Annual Report of the Bearetary of the Treasury. ; REVENUES OF THE GOVERNMENT, What Has Been Applied to the Public Debt. ESTIMATES FOR NEXT YEAR. What ieesee the Gold Supply, the Pub- Me Moneys. Loans and Currency, the Precious Metals and Profits of Cotnage— Product of Gold and Silver—Other Topics ‘Touched Upon. | —— The report of the Secretary of the Treasury was submitted to Congres: today. The report says that the revennes of the government from all sources for the fiscal year ended June 30, 1892, were From customs = pee 177,452,966 15 From internal revenue 158,971,072 57 From profits on coinage, bul- tion deposits and assaye 2,020,512 39 From sales of public iands 3,261,875 58 From fees—consular, letters patent and land .. 9,130,487 06 From sinking fund for Pacific | Tailwaye 1,828,771 46 From tax ox national banks 1,261,333 11 | From customs fees, fines, pen- jes and forfeitures From repayment of interest by Pacific railways a From sales of Indian lands - From Soldiers’ Home, perma- nent fund - . From tax on sealskins naee From immigrant fund From sales of government prop- 209,249 66 962,437 847,513 23 194,385 45 46749 330,128 65 erty a 236 498 38 From its for surveying public lands 149,966 21 From sales of ordnance mate- rial. . one 101,242 35 From sales of condemned naval vessels . 2 31,854 12+ From sale of old custom house, kee, Wis, 64,000 00 18,860 33 200,000 00 From navy pension and navy hospital funds, 2 1,118,155 25 From depredations on public wands From the District of Columbia From proceeds District of Co- lumbin ten-year funding bonds s From miscellaneous sources From postal service. Total receipts... : The expenditures for the sam For the civil establishment, including foreign course, public butidir lecting the revenues, defi- cieney in postal reventies, re- bate of tax on tobacco, re- fund of direct taxes, French spoliation claims, District of Columbia and other miscel- | 299,841,988 61 laneous expenses . For the military éstablishmedt, Por the naval establishment, including construction of provement at uavy yards 29,174,138 98 For Indian service 11,150,577 67 For pensions 134,589,052 79 23,378,116 23 Por interest on the putlic debt For postal service 10.930,475 93 Total expenditures. Leaving a varplus of 29,914,453 APPLIED TO THE PUBLIC DEBT. To this sum was added 216,292,721, deposited im the treasury under the act of July 14, 1890, for the redemption of national bank notes; £4,910 received for 4 per cent bonds issued for interest accrued on refunding certificates con- | verted during the year, and 214,418,383.32 taken from the cash balance in the treasury, making & total of $40,570,167.95. which was applied to | the paymest of the public debt, as follows: | Redemption of Bonds, fractional currency and notes for the sinking fund Five-twenties of 1-62 $37, 4,179 98 300 00 Five-twenties of June, 1864 1,000 00 Consols of 1565 4,450 00 Consols of 1867 | Consols of 1865... . Ten-forties of 1564 National bank notes: _ one Total . © s-.+ €40,570,467 98 | As compared with the fiscal year 1591 the re- | eeipts for 1392 have fallen off $82,675,972.41 here was a decrease of $10,349,354.16 in the ordinary expenditures. For the present fiscal year the estimated as follows From customs m From internal revenue From miscellaneous soarces. From postal service. revenues are = $198,000,000 00 20,000,000 00 80,336,350 44 ated revenues: $463,336.350 44 the same period are es- For the civil establishment... 108,000,000 00 For the military establishment. 49,900,000 00 For the naval establishment... 31,900,000 60 For the Indian service + 9,000,000 00 For pensions 158,000,000 90 For interest on the public debt. 26,000,000 00 For postal service 80,336,300 44 Totalestimated expenditures. $461%836,350 44 Leavi: estimated surplus for the vear of ‘$2,000,000 00 The following is & statement of the probable condition of the treasury at the close of the tional currency during toe year 10. 200.000 00 h Dalance available June 0120.42, 77 OS FincaL Yean 1594. It inestimated that the revenues of the govern- Ment for the fiscal year 1494 will be on basis named below €210.000.000 90 ‘eons sources... Frou. posta: service... Tota! ethusted revenues 40, 3s ‘The estimates of appropriations required for the same period, as submitted by the several ecutive departments and offices, areas follows: $3,748.44 71 War Department Savy Departovent Ine: 19 ‘$1. 232,900 00 500,383 90 LIBS 800, 153 00 202, 812 63 200 515.030,073 72 Permanent ann zal appropriations— Of the former there is a decrease of weeiiee ache” 90g. 771.208 88 tnd of the Intar an imctonse of $48,009,000" °° Refunding — cag PRECIOUS METALS. revenue. Be 12,781,300 00 Deposits and purchases—The value of the bene = A — gold deposited, at the mints and assay offices RR. 008 09 during the fiscll year 1892, was @66,476,975.98, of which $61,131,460.04 were Se eres cn ite 961, were see at unt bem aieens Sek tae ae & Or an cotimated surplus of. 32,860, foreign gold coin and ballion; €557,967.96 light- TEAS gee bas Sore cae. ar7 | eet tie gold coin, and @3,686,608.68 re ee ‘The deposits and purchases of silver aggre- ‘ted 72,121,268.08 standard ounces, of the coi & salae of $93,922, 930.01, including 640,461.19 ee tiuated as Pr lemntts tandard , of the value of 8745,- a standard ounces, coining value of 8745, tiepal curreney and national bank notes $6,000,000 00 Probable payment on mail subsidy c Of the silver received 63,190,603.86 standard ounces, of the coining value of €73,461,072.08, were the productof our own mines; 4,119,077.89 | a OL standard ounces,of the coining value of 82,464, [ha 1,000,000 00 612.45, were foreign silver Dullion and coin; ———————~___ #6 000,000 09 | 5,593,907.71 standard ounces, of the coining Teaving cece 47,859,407 03 | value of $6,509,274.43, were uncurrent domestic Against which there will remain on June 30, } coins; 1,921.53 standard ounces, of the value of 1893, unexpended balances of continuing ap-| €2,235.96, were trade dollars, and 636,290.85 propriations for heavy ordnance, rivers and | standard ounces, of the coiningwalue of @740,- Lertore, increase of thee navy oud public build- | 411.27, consisted of old plate, jewelry, &c. ing+ amounting to '044,000,000. | Coinage—The coinage of the mints during the No account is made in the foregoing of the | last fiscal year aggregated 118,556,124 pieces, requirements of the sinking fund for 18%, valued as follo’ amounting to $48,600,000 beyond the redemp- Gold . $35,506,987.50 tion of past due bonds, fractional currency and | Silver... st 8,329,467.00 national bank notes estimated at $5,000,090. Subsidiary silver. 6,659,811.60 ‘The estimated receipts are based ‘upon con- | Minor coins. 1,296,710.42 ditions prevailing prior to the lute election. tacos Public opinion having decreed a change of| — ‘Total........ - - €51,792,976.52 policy, ly in the tariff laws, the| The number of silver dollars coined during altered conditions resulting therefrom render | the fiscal year from “bullion purchased under it impossible at the present time to estimate the act of July 14, 1890, was 3,450,995, and from the annual income with any marked degree of | trade dollar bullion 4,878,472, a total of 8,829,- | vides that the Secretary of the Treasury ma | or redemption of United States bonds. In view | | in the opinion of the Secretary, is the inability, | the one-hundred-million reserve, to keep up a accuracy, and it is impossible to predict the effect that such proposed radical changes would have upon the future revenues of the govern- ment. i PROBABLE FALLING OFF IN IMPORTATION. Under all of the circumstances 1t would be inappropriate in me to undertake to make an estimate other than as slrendy stated, but it is | not out of place to remark that the business | community having a fullknowledge of proposed | turiff reductions the inevitable result will be a | falling off in importations and a corresponding decrease in the revenues, The extent of this jecrease no one will be able to measure until business shall again adjust itself to new condi- | tion A careful review of all the facts fully justifies the opinion that the large increase of receipts ascribed to the marvelous prosperity of the | country under the present revenue system | would, if continued, enable the department dur- | ing tho coming fiscal year to meet all obli- | gations without the slightest impairment of its cash and thereafter continue to show a ma- terial improvement inits condition. The estimates of appropriations for the Bacal year ending June 30, 1894, are based upon the reports of the heads of departments and other data at command. They are believed to be only such as the needs of the public service de- mand. Legislation will determine the amount to be appropriated and administration will in_many instances define the sum to be expended in any oue year. The committees of Congress can, with the data here furnished, mtre closely de- termine the appropriations to be made for the year ending June 30, 1894, and also of expendi- tures to be made therefrom, and from continu- ing appropriations above referred to, than it is possible for the department to do at this time. | ‘THE SINKING FUND. | The total requirements of the sinking fund to jane 20, 1892, as shown by the appended table, J | aggregate $924,394,496.34. The bonds and other | applied to the fund, in- interest’ paid thereon, te | 20,"and the total redemption of the debt including ‘emounts applied to the sinking fund since August $1, 1865, when the debt attained its highest point, aggregated $1,914,- 905, 107.53. or $990,510,681.49 more than was re- quired to be paid by the terms of the sinking | fund act. It is hardly protable that more than about $7,000,000 can be credited to the fund durizg the present fiscal year as against a legal requirement exceeding €43,000,000, and further applications to the fund during succeeding yeare must necessarily be limited to such «mall sums ax may from time to time be paid for past due bonds, fractional curreney and national bank notes redeemed under the act of July 14, 1890, ‘The act of March 3, 1881 (21 Stat., 457), pro- any time apply the surplus money in the ury not otherwise apprdriated to the pu of this provision and of the very large decrease of the debt already effected in excess of the legal requirements of the act, coupled with the probable future condition of the national finances, I would strongly urge its repeal. Sound policy would seem to dictate this course. The conditions which called for ite « have long since and no valid rea- son for its continuance any longer exists. I therefore recommend its unconditional repeal. The total debt of the United States, less cash in the treas- ury, at ite maximum point, August 31, 1865, yas On June 30, 1592, it was. 2,756,431,571.43 $41,526,463 60 Making a reduction of the debt, Jews cash in the treasury,of.. 1,914,905,107.83 Or $990.510,681.49 more than the requirements of the sink- ing fund called for. ‘THE GOLD SUPPLY. One of the embarrusements to the treasury, with the limited amount of cash on hand above comes for the exportation of gold the treasury is called upon to furnish it. If this demand should prove to be as large the coming year as it has been for the past two years gold in the | treasury would be diminished to or below the reserve line. In view of the increased and increasing lia- bilities the reserve in the treasury for the re- demption of the government obligationsshould, 1 my opinion, be increased to the extent of at ercent of the amount of treasury ned and to be issued under the act of y 14, 1599. As will be seen by the estimates submitted the receipts of the current and the next fiscal year are not likely, if present conditions con- tinue, to fall below expenditures. Yet in view of the fact that the surplus for this year will be | mall, upon the basis stated with the probabil- ity of a falling off in recetpts for causes men- tioned, I think the revenues should be #0 in- | creased as to enable the Treasury Department | to maintain a gold reserve of not less than | 125,000,000 to maintain a comfortable work- | ing balance in the treasury cash. As a general | revision of our customs laws is now probable I do uot feel like suggesting any special method | for increasing the revenue, though I should | otherwise think that an additional tax on whisky, which could be collected without addi- tional cost, would furnish an easy method. PUBLIC MONEYS. The monetary transactions of the government have been conducted through the treasurer of the United Stes, nine subtreasury officers and | 202 national bank depositaries. The number of such depositaries on November 1, 1892, was 15¢, and the amount of public moneys held by them ov that date, including those to eredit | of the treasurer's generat account and United | tates disbursing officers, wi 5 | eduction, since November 1, | of depositaries of twenty-four and’ in amount | of holdings of $4,515, 688.87. LOANS AND CURRENCY. Since March 1, 1889, there have been purchased and canceled United States bonds of the face value of $233,729,150, for which there was expended the sum of $270.952.431.20. Of the bonds so pur- | chased $121,615.950 were 4 per cents and $11 113,200 43 cents. penditure was | 955.52,498.51 less than the sum which would | be required to redeem the bonds and pay in- terest thereon to the date of their maturity. During the same period there were redeemed at par $25,004,700 434 per cent bonds, and a further amount of $25,364,500 of the same loan has been continued during the pleasure of the government, to bear interest at the rate of 2 per cent per ennum. The annual interest charge March 1, 1889, was $34,578,459.50. It is now €22,593,990.80. The increase in notes of $20 was $31,864,500, and there was a decrease in notes of denomina- tions of $50 and above of $10.376,325. ‘The volume of money in circulation has in- creased during the twelve months ended No- | sufficient gold supply. When’ the el | were manufactured during the tment | St | ized during the year, fifty-thre | amount of individual deposits 467 silver dollars upon which the seigniorage or profit was $980,487.41. ‘The total coinage of silver dollars trom March }, 1878, to November 1, 180%, has been as fol- wa: Act of February 28, 1878 Act of July 14, 1890". Act of March 8, 1891 (trade doilar bullion)... The net profit on the coinage of silver during the fourteen years ended June 30, 1892, includ- ing the balances in the coinage mints on July 1, 1878, has aggregated $72,736,065. Bars-—In addition to the coinage, * €378, 166.793 83,167,570 old bars last fiscal year of the ue of $36,125,552.39, and silver bars of the value of 7,130,270.12,' a total of €43,- 255,822.51. PURCHASES OF SILVER. ‘The purchases of silver during the last year were made under the provisions of the act of July 14, 1890, requiring the purchase of 4,500,000 ounces in each month. The total amount purchased was 54,385,748 fine ounces, costing $61,106.60, the average cost being 94 cents per ounce. The total amount of silver purchased under | the act of July 14, 1890, from August 13, 1890, | to November 1, 1892, has beon 120,479,981 fine | ounces, costing $116,783,590, an average cost of 20.969 per oun Price of silver—The price of silver fluctuated | during the last fiscal year from €1.02 to €0.855 per fine ounce, a variation of 1634 cente an | ounce. Since July 1, 1892, the price still further de- | clined until, on August 11, 1892, it reached 83 | cents a fine ounce, the lowest price on record. | The price November 1, 1892, was 86 cents per | fine ounce. | The average price of silver during the year, upon London quotations, was 20.937 a fine Ounce. | IMPORTS AND EXPORTS. * | The net loss of gold by exports during the | fiscal year was only $142,654 against a loss in | the preceding flacal year of $67,946,763. The | net exports of silver were €5,035,823, against a net import in the previous year of $2,745,365, a difference of £7,731,198. Earnings and expenditures: The total ex- penditures for the support of the mint service for the lust fiscal year aggregated #1,106,638 against $1,285.910 in the preceding year, a re- duetion of expenses of $229,371. The total earnings of the mints and assay offices from all sourcen were $2,294,258, and the | total expenditures and losces of all’ kinds €1,- 500,494, « net profit of earnings over expendi- tures of $793,794. PRODUCT OF GOLD AND SILVER. The mines of the United States produced dur- ing the calender year 1891 precious metals ae follows: |) Fine | Commereiai | ounces, value, The product of the mines and reduction works of the United States, including precious metals contained in foreign material reduced in the United States, was: Fine ounces. Gola 2,169,863 Silver. 69,336,415 | | METALLIC STOCK OF THE -UNITED STATES, Whe stock of gold and silver in the United | States, based upon official tabulations brought forward from year to year, was, on November 1, 1892, approximately Gold... z + $656,041,563 Silver. 587,614,951 Total... 43,656,514 GOLD AND SILVER IN THE ARTS AND MANUFAC- URES. According to the information gathered by the bureau of the mint, the'value of the gold | and silver used in the industrial arte in the | United States during the last calendar year | was, approximately, gold, #1 00, and wil ver, #9,630,000, of which’ $10,697,679 gold and $7,289,073 silver were new bullion. . CONTHOLLER OF THE CURRENCY. ‘The report of the controller of the currency gives complete and detailed information as to the organization, condition and management of all active and feiled national banks during the year ended October 31, 1892. ‘One hundred and sixty-three banks, with an aggregate capital of $15,265,000, were organ- went into vol- nd seventeen became in- wing a net increase of ninety-three untary liquidation solvent, l Of the new banks organized during the year | about one-half were west of the Mississippi | river and 89 per cent were in the southern | states. ‘The total number of banks in operation Oc- tober 31, 1892, was 3,788, having an aggregate | capital of 2699,868,665 and surplus and un- divided profita of €340,524,179. ‘The total was $1,765,- 422.953; total bank deposite, 530,653,202, and total resources, $3,510,094,89% ‘The national bank circulation outstanding shows a net in- crease of 210,487,226, and the gold held by the banks, as compared with last year, shows an in- crease of $21,994,115. Surplus and undivided profits, increase, $9,663,020; individual de- posits, increase, $17,104,902; bank deposits, in- Crease, @100,058,428. Of the liabilities of the seventeen banke that failed during the year two-thirds of the amount belonged to the Maverick National Bank of Bos- ton, Aside from this one institution the fail- ures were not of a serious character. The esti- mated value of the assets indicate that over 85 National Bank has already of from 2 to 5 per cent. ° The domestic exchange drawn by banks for the year ended June 30, 1892, was @12,994,959,- 590, an increase over the preceding year of over 10 per cent. ‘he following recommendations of the con- troller are approved: (2) That the minimum deposit of govern- ment bonds required of national banks be $1,000 for banks of $50,000 capital and 95,000 for banks whose capital exceeds £50,000. (2) That bauks be allowed to issue circulating notes equal to the par value of the bonds hel to secure circulation. (3) That the monthly withdrawal of bonds edged to secure circulation shall not exceed 500,000 in the te. (4) The banks should only be assessed in amount sufficient to defra actual cost to the government of pro’ circulation and mail ernment supervision, and the ‘hould Ge placed upon capital as’ well as vember 1, 1892, as shown by the following table: certificates: tex etroulation. Georentoet Pore, O.TAYLOR tice nis ted cinta taco Fuse Oi, see NOT sold n but o by manure te Sealed bby Druggists, Grocers, Wine Mer= LOOK for proprietors’ firm name signature—— CHESTER H. GRAVES & SONS, Boston. REFUSE SUBSTITUTES. 5 | the amount of the stock held by them res r cent will be paid tocreditors. The Maverick | paid 85 per cent and | there is a probability of an additional dividend | may be a basis to secure national bank circulation. The controller shows that by Py cent bond. having the ame length of fo run, for the 4 eS market value of each, on the Sist of October, the and experience, to nds, whose daty it conspicuous abilit out of the public fw to visit, assist and supervise the various exam- iners in their several districts, in order to se- cure uniformity in method and greater effi- clency in work. (10) That the law beso amended as to | hibit officers and employes of a bank from rowing from its funds in any manner excep' | upon spplication to and approval by the board of direct (11) In order to facilitate the collection of assessments upon stockholders of failed na- | tional banks, that the receivers of such banks be | required to file with the county clerk or regis- ter of each county in which any stockholder may reside a statement showing the names of the stockholders who reside ih such county and | ively, the filing of such statement to constitute ® lien upon any realty of sald stockholder, which lien may be vacated npen motion giving proper bond and shall be discharged.by the receiver upon payment of the assessment, (12) That section $80, United States Revised | Statutes, be so amended as to leave it discre- \tionary with the controller of the currency whether United States attorneys shall be em- ployed by receivers of failed banks or not. FOREIGN COMMERCE. ‘The value of our foreign commerce (imports | and exports ef merchandise) during the last fiscal year was greater than for any previous year. It amounted to €1,857,680,610, as against @1,729,897,008 during the year 1801, an increase of '§128,288,604. ‘The value of imports of merchandise during the last fixcal year amounted to $827,402,462, as ogainst $84,916,196 during the fiscal year 1891, ports of merchandise during the last fiscal year was the largest in the history of our commerce, amounting to $1,030.278,143, as against €884,480,810 during the fiscal year 1891, an increase of €145,797,338. ‘The value of the exports of merchandise ex- ceeded the value of imports of merchandise , $202,875 ,656. ‘The value of the imports and exports of | merchandise and specie during the last four years ending June $0 has been as follows: Er | 8 decrease of $17,518,784. The value of : 4 Fe fs i j 2 22 zt ee 3 wa ‘aSIGNVHOWER EL -OFO'EL TO'SRL'S1O'T® | Fa The above table does not include gold and silver contained in imported and exported ores and copper matte, which were for 1891 and 1892 as follows: i = ‘1801. | sess ct | | Exports. | Imports, | zea of | Gold in ores | | nd copper matte... 8100.20 €8283,545 $183,319 | silver tn” ore | ‘and copa matte ...... 942,563) 8,252,086 7,300,473 | Exceas of Imports. | Traore’ $110,206) #463,425) ¢359,210 900,003) 8,800,048) - 7,819,645 | as it was last ve | gravid fei | tion of judgments of the Court of Claim: | approved March 3, 1891, ‘The total value of exporte of domestic mer- chandise was $1,015,782,011, an increase of 9143,461,728, and was the largest in the history of our commerce. increase in the value of free €91,758,806, and » decrease in the value of dut- goods of 109,272,040, caused mainly by transfer of sugar from the dutiable to the free list by the few tariff. TRADE WITH SOUTH AMERICAN COUNTRIES. A table exhibite the total values of our import ‘and export trade in merchandise with countries The value of our exports of merchandise to these countries during the same year was €92,- 545,868, or 8.98 per cent of the value of our to- tal exporte of merchandise, Our total imports and exports of merchan- dise from and to these countries during the same Year amounted to @981,440,770. or 20.58 per cent of our ts and exports of merchandise. agi i It will be seen that the excess of imports of merchandise from these countries over our ex- Porte to them during 1802 amounted to $196,- 9,084. In other words, our imports of merchandise were 75.74 per cent and exports 24.26 per cent of the total trade with those countries, and we imported merchandise to the value of $3.12 for every dollar in value exported ‘to these countries. The excess of imports over ex) chandise for the fiscal year 1891 was $152,- 099,081. For the fiscal year 1890 this excess was $108,054,472. Our commerce with this entire group of countries shows a gradual increase of both im- ports and exports of merchandise since 1870. During the year 1870 the value of imports was $17,395,951 and of exporte $55,140,322, an excess of imports of $62,253,629. During the esr 1880 the’ valuc of imports was €175,985,906 and of exports 261,546,474, an excess of $17,439,482 in importe. The per cent of our commerce with these countries, as compared with our total commerce, was in 1670, 20.82; in 1840, 15.99, and in 1892, 20.58. TRADER WITH COUNTRIES UNDER RECIPROCITY ‘TREATIES. A careful analysis of the statistics of Sur im- ports and exports from and to the countries with which reciprocity treaties have been ea- tablished, from the commencement of such treatios to September 30, 1892, inclusive, shows | that the predictions of the friends of this new | policy bave been largely verified, and that there been a very gratifying increase in our com- | merce with these countries in both imports and | exports, rts of _mer- imronta. During the period since the reciprocity | treaties have been in effect it appears that there | has also been a very large increase in the value of our importa from countries with which we have these treaties, amounting in the aggre- te to $84,294,525. It will further be observed wat this increase of imports ix entirely from the American countries with which reciprocal relations have been established. SEAL FisnERtes, ‘The modus vivendi entered into in 1891 be- tween the United States and Great Britain was renewed in 1892 pending the arbitration be- | 4 vited to the report of the examiner, to be found report to be submitted by the sioners and by the treasurer of the United Btates, ex-officio commissioner of the sinking fand of the District. world’s Columbian exposition. The govern- ment building on the exposition grounds, con- structed under the direction of the sing architect of the treasury, is approaching com- pletion and {s now ready for the reception of exhibits. Suitable arrangements have been made for carrying out the customs laws and regulations respecting the admission of foreign goods for exhibition. The establishment, under the President's termining factor in the selection of clerks for promotion, has tended strongly to secure punctuality, regular attendance, industry and accutacy and the ambitious employes have en- deavored to complete their knowledge of all matters pertaining to the offices in which they are employed, and to add to their stock of | academic ‘acquirements and general informa- | tion. The ends usually sought by coercive rules and regulations have been better attained by | the rewards offered for fidelity and ability. The friction firat encountered in putting the new methods into effect has been largely over- | come and ratings by the chi#fs of divisions are | Bractically equitable aa between the several ivisions. ‘The experience of the department in making selections for places excepted from the competi- tive examination induced my predecessor to subject each candidate for the positiowof spe- cial agent to an oxamination as a test of fitness, T found the application of the principle to be beneficial to the service and continued ity and for the same reason 1 have applied during the year a like test of fitness to candidates for the position of chief of division with equally good resulta. So far as can be learned the promotions, with few exceptions, have been approved by the chiefs and clerks of the bureaus in which the; have been made. The head of the depurtment bus been relieved of the importunities for pro- motion from those outside the classified service and from those within. The hope a that the present rules, with a few modifica tions, will eventually place promotions wholly on the basis of merit, as ascertained from the records of faithfulness and efficiency of the clerks made from day to day. Attention is in- in the appendix. The several reports of the heads of offices and bureaus are herewith transmitted, and the Sec- retary desires to express his appreciation of the valuable service cendered jo him by the officers nd employes of thix department in the transace ion of the public business Cuantzs Foster, Secretary of the Treasury. Delightful — Healthful AT ALL TIMES. Morning, Mid-day, Evening, tween the two governments, und in consequence | thereof the quota of weals ‘to be taken on the | Pribilof Islands during the seacon of 1892 was again limited to 7,500. ‘Under the terms of the modus the taking of seals in the waters of Bering sea was prohibited , und the vessels of the British | and our own navy, as well a# those of the | revenue marine service, co-operated to enforce | its provisions, But three attempts were made to enter the sea through the passes, and the vessels in each case were seized and proceeded against under the international agreement. From 30,000 to 40,000 seals of the Pribilof Isiand herd. a large proportion of which were #, were taken by pelagic hunters in the North Pacific between January and July, 1892. Asa result, the number of seals on the breeding grounds’ on the islands was found to be smaller this year than last. As the income derived by the natives on the islands of St. George and St. Paul from the taking of the 7,500 «kins will be inadequate for their support, thus rendering them dependent upon the government, I recommend that the appropriation, of $19,500 made for their sup- port during the current fiscal year be renewed. . DISTRICT OF COLUMBIA. ‘The net expenditures on account of the Dis- trict of Columbia for the fiscal year 1802 were €6,331,960.56. ‘The net revenues deposited in the treasury on this account for the same period were £2,967,044.71. On July 1, 1891, there were due and payable 2,490,200 6’ per cent bonds and 276,700 7 per cent bonds, making a total of $2,766,900. ‘There bave been issued during the fiscal year $27,100 of the 3.65 per cent bonds in satisfac~ Under the provisions of the act of Congress he treasurer issued and sold on July 1, 1891, $2,400,000 of the 3.50 ver cent bonds at a premium of 0.581 per cent, realizing the sum of $2,412,744, which was ap- plied to the redemption of the bonds maturing that date, leaving $354,200 to be absorbed by the sinking funds, resulting in a net reduction of the bonded debt during the fiscal year of 2866,900 and reducing the annual interest charge $84,781. The net reduction of the bonded debt since July 1, 1878, is $2,973,250, and of the annual interest charge $262,120.72. At the close of the fiscal year 1891 the net surplus arising from the sale of bonds in which ‘The value of our total trade in merchandise with the united kingdom amounted to 9655,- 616,213, of which the value of exports was $499,- 815,332, and the value of imports €156,300,831, howing an excess in exporte of $843,014,451. Our import and export trade with the united kingdom forms 35.8 per cent of such trade with all nations, and about 58 per cent of such trade with ail Europe. Our trade with North Amer- ica, including the West Indies, standp next in value, followed by that with South America and that with Asia and Oceanica. Onur trade with Germany sh an excess of exports of €22,614,005, with France of $30,571,914. and with Belgium and the Netherlands together of £€69,083,970. In our total trade with Europe the excess of exports over imports was €453,994,681. lar commerce in merchandise with North America, including Mexico, Central America and the West Indies, amounted to $279,620,- 365, of which the value of imports was $174, 054,181 and of ry 105,686,184, an excess of im gf 808,487,907; but if our export trade by land carriage with Mexico and Canada had been correctly ascertained by means of an adequate law for that purpose it is estimated that the value of our exporte to the countries of North America would appear about @183,- (000,000, and the total value of the exports and HERE Tem with wonders for Christmas, Don't forget the little tote, Let them ‘‘tum to Day Day Dool's” and see Wonderland. Don’t grip your Pocket book too hard when afew cents will make them all have a joy- ous Christmas day. We make treo ornaments, and buy the most select Help youreelf it youre sutfor- ing woman, with the medicine that's been pared capecaly help you— Dr. Pierce's oe Prescription. It will do it where all tho discases pocaliar to the eres iar sex: = down pains, displacements, and other =: nesses, it's ‘a positive remedy. It means a new life, and a longer one, for every delicate woman.’ In every case for which it’s recom- mended, it gives satisfaction, It's guaran- teed to do's, or the money is refunded” improves digestion, invigorates ese an Stee ancholy and ‘and builds up both flesh and strength. It is a legitimate med- to ; no or to sour or ferment in the stomach and causo distress. As peculiar in its remedial re- in its comy fore, don’t ra Us BUY OUR FAyovs LINE. [_—— For t! ou make no Torsten toe Das tom petet Once tried wi 40 without them. |" FAM ‘eae Famous ‘3.50. ones that the world produces. Will you come and see? a7&9° J. JAY GOULD, 421 0th. 28 Houpay Axp Wuoorse Pazszwrs. CHRISTMAS will soon be here and of course you will make some presents. . ‘What ts nicer for a present than an ELE- GANT piece of CUT GLASS, « piece of DRESDEN or ROYAL BRALIN CHINA? We have the latest novelties in IMPORTED GOODS, and, baying direct trom the menu- facturers, are enabled to sell at the lowest prices. Accall will convinee you. MW. BEVERIDGE, | ‘Importer of ‘and Porcelata, ie Pend 14 Gete Fpicint FAM os sa8a° FAMOUS 63.50. Whenever you are thirsty. Saratoga Kissingen Water Nature’s inimitable table water. Bottled and charged with its own natural gas. Opens with a vim—snap, sparkle, bubble. Cool, refreshing, appetizing. An infalli- ble remedy for’ nervous troubies and | stomach ills. Absolutely non-cathartic, Sold everywhere. IN BOTTLES ONLY. Saratoga Kissingen Spring Co., Saratoga Springs, N. Y. K The next morning I feel bright and new and my | complexion is better. My doctor says it ‘acts cently on the stomach, liver and kidneys and ts a pleasant laxative. This drink is ade frou her jared {01 7 wade frou herbe and is prop F Use as easily as All drugatsts sell it mi cannot = Simen'e that Troaid ect work. Th ] It aa Se Siena asian cae cone, OR. 0. W. F. SAYDER. W'WICKER'S THEATER, CHICAGO. 10 Pex Cenr*Orr, SS8gH HO U 9885 TTT FI ™ g88s, SSH HU 0 Ss THT EEF RRR. S's SssHMH UU Sss, z ke kee Sss, SSH Hou Sus8 Teed B Sss8 TEN PER CENT OFF FOR CASH. HAVING PURCHASED LARGELY, IN AX- TICIPATION OF A HEAVY FALL TRADE, AND REALIZING THAT OUR STOCK 18 NOT MOVING AS RAPIDLY AS IT SHOULD, WE HAVE DETERMINED TO OFFER OCR ENTIRE STOCK, COMMENCING MONDAY, PROMOTIONS IN THE TREASURY DEPARTMENT. | order, of an efficiency record, which is the de- | the American people by Act of of these Coins and their limi who want them—our So great a demand for t réason that Coins the sum of $5,000,000. This smaller sum than the people would | sacs an indirect medium. shoul Remember ‘that onl: 66,000,000 people. These Coit the people to for each Coin, as t! $5,000,000—the sum needed to open the . as } The Coins Ag: ‘vee their receipt for your money, Orders will be Filled in the oe a 1 5 Cross Eves Srnarontesen, CATARACTS REMOVED, GLASSES SCIENTIFICALLY ADJUSTED, And all Diseases of the Eye, Ear, Nose, Throat, Lungs, Stomach, Blood, Skin, Nerves and Kidneys treated with the latest approved remedies. 8. @. NEWLIN, M.D., And J. & BEAMENSDERFER, M.D., Late physician in charce of Eye and Ear Department of Bellevue Medical College, New York; clinical as- sistant to New York Eye and Far Infirmary; also as- sistant to the Eye, Ear, Noss and Throat Department, Good Samaritan Dispensary, New York. CONSULTATION FREE AND INVITED, REGAINED BIS HEARING. AN ENGINEER WHO WAS PARTLY DEAF FROM CATAKRH RECOVERS HIS HEARING. ‘Mr. Wm. Rankin, for 18 years engineer of the In- ianapolis, Tnd., city water works, says: Thave been affected with catarrh for several years and was an- noyed with frontal headaches, nervousness, insomnia, Joss of appetite, in consequence of which I lost flesh; Ttook coldeasily and my nose was stopped up most of the time. There was a constant singing in my ears, Mr. WM. RANKIN. and an offensive discharve from them that affected my | hearing, which gradually grew worse until I went to | Dr. Newlin, who cured the catarrh, stopped the dis- charges and Icon now hear as well us ever. MACKENZIE MEDICAL INSTITUTE. 1344 G st. nw. Office hours, 9a.m. to 12m., 3toSand7to8 p.m. Sundays, 9a.m. to 12 m. a7-wks2t Are you too fat? R. HUDNUT’S tion is 66,000,000—] World’s Fair Souvenir Coins already quoted at large premiums. Liberal offers from wish to absorb them and reap enormous profits, have been rejected MARIENBAD Te sied of oh Cure for Obesity (CORPULENCE). Reduction of 2 to 5iba foment whee ny nvenience. Guarane ‘teed absolutely harmless, Tnstston having the right Kind ; see that the name R. Hupxvr, Chemirt, xe. Sap Yt co creay Boule and labels TRADEMARK. Price €6for 3 bottles, suf ficient for 6 weeks! treatment, or #2 bottle Mr. GEO. CELDRIDGE, "189 ae street, Brooklyn, N. ¥.. says wife has lost 50 pounds ‘aud been greatly benefited in health ike. &c.” Mz. W. kK. MILE! w York, writes: ESALE—MUTH BROS., Baltimore. ock2-w. skin 30t * GRAND, NATIONAL PRIZE of 16,600t, 7 NOVEMBER 21, OF STAPLE AND FANCY DRY GOODS aT A REDUCTION OF TEN CENTS ON EACH DOLLAR'S WORTH SOLD. OUR STOCK COMPRISES ONE OF THE FINEST LINES OF DRESS SILK, VEL- VETS, BLACK AND COLORED DRESS FABRIQUES OF ALL KINDS. HOSIERY, UNDERWEAR AND HOUSEKEEPERS LIN- ENS, BLANKETS, &., IN GREAT VA- RIETY. ALL OF WHICH WE OFFER AT TEN PER CENT OFF POR CASH. W. M. Snover: & Soxs, 919 PENN. AVENUE. ROCHE’S ATING TONIC, INVIGOR “The World’s Fair Directors Have 5,000,000 Souvenir Half Dollar Coins in their , the ues combined to create This is the People’s Fair-= ‘We have decided to deal direct with the pecplato To whom we are directly ‘responsible---among whom an equitable distribution of these National heirlooms should be made. The World's Fair Offer to the American People: _ That none of our plans for the realize from the sale of 5,000,000 Souvenir World's Fajr Fifty-cent Silver "s profit be curtailed we must means $1.00 for each Coin, a much have to pay for them if purchased Every patriotic man, woman and child endeavor to own and cherish ‘one of these Coins, as they will be valuable in fnture years—a cherished object of family pride. 5,000,000 Coins must be divided a could | be sold at a high premium to Syndi- catés, but we have enough confidence in rice at a Dollar will make us realize the Fair’s gates on the people’s broad plan. Go to your nearest Bank and subscribe for as many coins How to Get you need for Bae family and friends. Thee Sub- ents of the Worl World’s Fair. Souvenir Coin for a Dollar. ’s Columbian Exposition will give as delivery of these coins will a gin before December.” There is no expense to you attending the distri- bution of the Souvenir Coins, as we send them to your local bank. If for any reason it is inconvenient for you to subscribe send Postoftice or Money Order or Registered Letter for as many coins as you wish with instructions how to send them to you, to TREASURER WORLD'S COLUMBIAN EXPOSITION, CHICAGO, ILLS. Order in which they are Received. —- TT Hex “Heauxe Is Srxxvw Now. MISS ROSA KNORR, WHO HAD ALMOST LOST HER HEARING, HAD IT RE STORED BY TREATMENT WITH DR JORDAN. Miss Rosa Knorr, residing at No G28 24 street northwest, tells an interesting story in regard to her My trouble only commenced a few months ago. At the start T suffered with terrible pains im my ears, shooting up into my beef aud down my neck. The pain was #0 severe that I could not sep and Tot very nervous and worred, my ears started to run end there was quite s discharge in them, my hearing «radusily worse until aabort tine before T went to Dr. Jordan Tcould hardly bear st all. My throat was dry and fet tull up bebind the soft painte. In September I wont to Dr Jordan for treatment and be bas accomplished s great deal for me. The pata has all gone, the discharge bas been abated, my throat feels clear and best of all he has restored my bearing. Ifisasqood as ever ft was Lam hiehiy delighted, for it has removed a great load from may mindand I can bear what ls going on in the world. Dz. C. M. Jonvas, 606 18TH ST. N.W. Spectalty—Diseases of tho Nose, Throst, Dunes and Ear. CONSULTATION AND ONE TREATMENT PRER. Office hours—to 11 a 2 td Dm, CtoSp.m. Sundays. Sto 1-00 ‘or Duvpersa. TITTHERE is an easy way—and a hard wayto i doeverything. Buying FURNITURE T or CARPETS —or DRAPERIES—and tre- ing to pay cash for them—is the hard way, OUR Eevrrante Creprr Syevew fs the easy way, not understand it clesrly—or yom Would never pull and tug as you must now —te for sore housebold You get afew dollars tozetbe comfort, You vay the debt twice over—onee tm cash—and once tn the aacrifices that it makes necessary. While OUR way wives you the free dom of the MOST COMPLETE STOCK I= TBE CITY. You pick out just what you want make © small first peyment at the tme—and every week or month after you curtail the sccount—until first thing you know it a all paid up. Fou nefor missed the mones—you've enjoye! the Porscasion of the gouds—and it didn’. throw you into a temporary state of bankruptcy —as try img to squeeze out the canh would have dome, Wedon'task youtosicn s single note. We believe what you SAY you'll do YOULL DO ‘Your word is all the security we want. Christmas tse costly thne—but if you will make useful presents—you can buy them HERE on thie “EQUITABLE ORE DIT STSTEM™ of eurs—witbout causing arippl of trouble in your Smances, Hocse Axo Hzamuxx, us