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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jun 02, 1891
Page
5
A discussion noting the wasteful structure of customs districts with calls to abolish useless offices. It argues Uncle Sam loses money to collect small sums in inefficient districts and cites the high cost of revenue collection compared to returns. The piece also notes farmer opposition to Sherman and hints at potential political shake up in Ohio amid treasury concerns.
Treasury Secretary Fairchild pushed for consolidating customs districts and abolishing wasteful offices. He cited Maine ports with high salaries for little work, calling for permanent funding cuts and noting large costs to collect each dollar in ports like Boston and New York. The 1890 Boston and New York costs illustrated the excessive overhead in small ports.
A Columbus despatch says farmers in Southern Ohio will form and run their own tickets for the Legislature. Many counties already nominate farmers allies, pledging opposition to reelection of Senator John Sherman. Alliance leaders aim to secure power by aligning legislative candidates with their agricultural agenda.
The Treasury Department reports May debt rose by 622,915 with total bonded indebtness at 610,629,120.4. Surplus stands at 53,721,620 including 22,202.72 in bank deposits and 10,148,437 net cash. May receipts totaled 27,417,425 against 35,445,551 last year. customs and internal revenue declined versus 1890. Eleven month totals show 369,808,967 in receipts versus 364,557,088 last year. revenue for the year projected at 407,000,000 with expenditures near 477,000,000. Secretary Vener announced further details this afternoon.
A circulated note stated the Treasury would be ready to redeem all outstanding 4 1/4 percent bonds due September 1 amounting to 50 million dollars in principal and interest. It noted that whether all would be redeemed or some refinanced at a lower rate remained undecided as of today and would likely be settled tomorrow morning.
Chairman Warner calls a meeting of the National Executive Silver Committee at 1202 Pennsylvania Avenue Washington on Thursday June 18 1891 The meeting will weigh the Denver Congress action on the silver question and its importance for the committee's agenda.
Bids opened at the Navy Department show three offers for cruiser No. 13. Cramp & Sons bid 2,745,000 dollars, Union Iron Works of San Francisco 2,798,000 dollars, and Bath Iron Works of Bath, Mo. 2,690,000 dollars. Congress had appropriated 2,750,000 dollars for the vessel.
The Secretary of the Treasury selects the Union and State Streets corner property owned by William and Elizabeth Wilson valued at 25000 dollars as the site for a new government building in New Lonion Connecticut.
Advices from Peking report Teeheng-ki-Tong former First Secretary of the Chinese Legation in London and Paris has been condemned to death. His six years in Europe were marked by extravagance and alleged swindling as he negotiated a £7,600,000 loan with London and Paris banks. Recall and arrest followed his recall to China, where the Emperor ordered his return and trial.
Berlin reports Chancellor Von Caprivi said no cut in corn duties will be made and distress is not general. Crop prospects are better than two weeks ago. London dispatches note sugar beet planting delayed by rain across Germany Austria France and Belgium but May weather is favorable. Germany planted about 327000 hectares with sugar beets, acreage up 5 percent. Estimates vary on yield from 3750000 to over 4000000 tons. Russian crop increase unlikely.
Chicago June 1 Organized labor fails to win wage concessions from the World's Fair organizers and plans to pressure the city council to delay the $5,000,000 exposition fund. A central union meeting outlined a broad program including strikes at construction sites and among mills and foundries supplying the fair. Work will be halted as workers in all trades are urged to withhold patronage.
Lynn's Poet Joseph W Nye marks fifty eight years in Lynn with a golden wedding at 110 Lewis street. A poem by Nye and another by fellow poet J Warren Newhall were read as friends presented gifts and a pleasing entertainment program.
In Frisco injunction proceedings at St. Louis on June 1 affidavits from stockholders and supporters of the Atchison Frisco consolidation were read. Vice-President Reinhart of the Atchison testified last fall he examined the Frisco’s finances and found a deplorable condition with income failing to cover operating costs.
General Butler appeared in U S District Court to argue release for Mrs Clarietta Johnson from Sherborn Woman's Prison under a writ of habeas corpus. He attacked the indictments and questioned the prison status while District Attorney Allen defended jurisdiction and the court's authority. Judge Nelson planned a decision after 3:15 PM.
Death notices from Charlestown Boston Highlands Jamaica Plain Chelsea Roxbury Squantuit Medford West Roxbury Chicago recount multiple individuals aged 31 to 82. Names include Mary A Furbush George E Hersey Jr Abbie Barnes Leverett Catherine W Tarr John Brooks Mabel Cole Caroline Johnson George H Pentland Joseph H Streeter Diana French and others.
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