es of the cost of pensions is in not taking
account of the diminished value of first payments under the recent
legislation. These payments under the general law have been for many
years very large, as the pensions when allowed dated from the time of
filing the claim, and most of these claims had been pending for years.
The first payments under the law of June, 1890, are relatively small,
and as the per cent of these cases increases and that of the old cases
diminishes the annual aggregate of first payments is largely reduced.
The Commissioner, under date of November 13, furnishes me with the
statement that during the last four months 113,175 certificates were
issued, 27,893 under the general law and 85,282 under the act of June
27, 1890. The average first payment during these four months was
$131.85, while the average first payment upon cases allowed during the
year ending June 30, 1891, was $239.33, being a reduction in the average
first payments during these four months of $107.48.

The estimate for pension expenditures for the fiscal year ending June
30, 1893, is $144,956,000, which, after a careful examination of the
subject, the Commissioner is of the opinion will be sufficient. While
these disbursements to the disabled soldiers of the great Civil War are
large, they do not realize the exaggerated estimates of those who oppose
this beneficent legislation. The Secretary of the Interior shows with
great fullness the care that is taken to exclude fraudulent claims, and
also the gratifying fact that the persons to whom these pensions are
going are men who rendered not slight but substantial war service.

The report of the Commissioner of Railroads shows that the total debt of
the subsidized railroads to the United States was on December 31, 1890,
$112,512,613.06. A large part of this debt is now fast approaching
maturity, with no adequate provision for its payment. Some policy for
dealing with this debt with a view to its ultimate collection should be
at once adopted. It is very difficult, well-nigh impossible, for so
large a body as the Congress to conduct the necessary negotiations and
investigations. I therefore recommend that provision be made for the
appointment of a commission to agree upon and report a plan for dealing
with this debt.

The work of the Census Bureau is now far in advance and the great bulk
of the enormous labor involved completed. It will be more strictly a
statistical exhibit and less encumber