You will be pleased to know that it is neither varnish nor lacquer...it is shellac. Shellac finish is easier to restore. (A look at the underside of the keyboard cover will attest to the quality of the original finish.) Shellac in its' natural state is orange and that's why the powder is that color. The streaks are old wax. This finish can be cleaned, smoothed and restored all at one time by applying Wood Elixir with very fine steel wool and then wipe dry. Smooth it until you are satisfied with the finish. If you then want to make it brighter, apply a high quality cream car wax containing carnauba. Incidently, that appears to be a beautiful Rosewood cabinet dating from about 1915. Too bad you don't have the original bench.