The New York Herald Newspaper, December 11, 1863, Page 2

2 NEW YORK HERALD, FRIDAY, DECEMBER LL, 1863.—-TRIPLE SHEET. : “~~ ; tonal banking, fair toafl and erades goat POR . 6,009, $157,119,007, from tho total of receipts, and tbore | Peucy; and a system of nat! pursed and proper Tho agente of ail have goaorally béve diligent aud fecal year. onding on the Soth of Jane, 186, were, in- | From miseeilaneouseources.. AeA | coma: on wezpemed eaame "ell Gsaieton TE. ee ae Sa eee ste dees ceroeapes pesver, me ncticable period, of | faithial tn the discharge of their several daties. A fow cluding balance (rom the g F ¥, — Making estimated aggregnte receipts. .... $206,896,589 | Had it beea possible (o suppress rebellion after two yoars ¥ ~ ee apes mati jebt 8 6004" | the bank corporations of the Suates in banking | Of subordinate grade have proved incompetent or unwor- 69,059-642 | And he estimates the expenditures as follows — Of war, and before July, 1983, tis sum would have beon | "HY en ovila ag | 2820Ciations, and of the corporate circulation inte nation: | thy, and have been dismissed ; and the same moasure wilt zum cuarent “107,017 | Estimated balance of former appropriations, applicable to the purposds of a sinking fund. these ways may nob great ov al currency, the Secretary believes, and, a8 be thinks, not without good grounds, that all tho money needed for Prompt payment of troops and for tho most vigorous Proseoution of the war can be obtained by loans on rea. terms; whi all interest on debt and all ordinary expenditures, derable part also of the extra- be sprowplly applied to all, of whatever grade, to whom publio duty may require its application. By an order of tho Seoretary of War, s3ued on tho tast of October last, the care of abandoned plantations and other real estate has been devolved upon the superveing agenta, who bave been instructed to accept the charge are brought upon ub by rebellion be transmitted a wise alchemy into various ferms of utility Secretary bas endeavored to use this alchomy, with what ‘success the country will judge when time and ¢rial shall have applied to bis work tbeir unfailing teats. « $360 ,000,000 50, algo, assuming again a8 Correct the goneral eati- mates of receipts and expenditures for the next fiscal ear, 1865, the total receipts for tho year will be $206, 836,530, while the expenditures for the ctvil ser. vice, pensions and indians will be $37,604,499 ; iscelianeous 3,046,615 | — unexpeaded July 1, 1864 fon direct tax 1,485,103 | For tho civil service rom internal reveaue 86,496,303 87,640,787 | For Pensions and Indians Balance {rom last year., 043,546 13,043,546 | For the War Department 7 For the Navy Department é ‘ : time additional loans are roquired, and, aa legisla 200 A or interest 0 public debt... 85,887,677 | for intorest, $85,387,676 aud for tho army aud navy, | , dean , and, ordiwary expendi by this war, will be mot by | aud uso their best endeavors in its execution. Tbe charge bie ie aan one” 180,408,845 had ‘a ——=———— | observing the rule’ alfeady stated, $56,845,834, making | 7h NIw Hands, several modes are open. tho ordioary ces. Nor does ho doubt that, through | of abandoned lands and’ plantations ‘noccssarlly: carries aia thatiatl gusse AOical Gh axticnalient Making the aggregate of estimated expen & total of $178,838,010, which sum, if deducted trom | 4.) hundred milligos of data Rontne of thin de, | Wis legisiation, sustained by intelligent popular will and | with it, to some extent, the charge of froodmon. sot disbursements, wore, of course, derived, or ost IUEOB soe oan ann ces vee « - $1, 151,815,088 | the of, receints, will give (& remainder | 9f | positon (ho Lat day of Decomber Lad been reduced to { S4PPortad by prudeuce and energy in civil ond military | ‘Tho whole chargo is at present undor military sanotioa meet -Giabgreouisain, wore; of D > Wi ass tepaitagatohanlineaea caeemeeceeianes $27,998,529. Should the rebellion be suppreased aftor Hes 606,190, nod % menta of $10,000,000 bad been | S#ministration, national currency can be 80 approximated | only , for the acts of Congress concerning al od pro- ae Eeremekic counetak tuk ‘achual eae’ 0 fol on the 30th June, 1865, and therefore to three years of war, and before the 1st of July, 1864, thas | Poi0'r:Om the poserre, Tie cdditueet ts will be | “2 Fecognized value to coin that @ resumption of pay- | party relate exclusively to personalty. The order ia af ime a ¥ be deducted from’ this aggregate. remainder wilt be applicable to payment of debt. pry party = nage epee te ne monts in specie can be brought about much sooner than | too recent date to allow receipts of reports concerning ite ws ela ; ie Shi ‘These statemente are subject to bome modifications be- conte - oa “a a 1b) Prager an a - even sanguine persons How permit themselves to hope. practical effects. It is only very clear that some system sige Fa osye Making tho real estimate .of' expenditures sides those which may result from errors of estimates, | DATdly Gxcoed twa ty-five raed will probably oon |, THe Secretary has already re‘erred in general terma to | should be adopted and steadily pursued which will best wh onreineait . for thO VOMF........ 2... ....+++4- 21+ +$761,815,088 | but these cannot reduce, though they may tacreass, the — eee 4 a, vi 4 robal 4 from | ‘Be reports of ‘the hoads of the various bureaus and | serve the great objects of restoring tranquility, order and War Department 5 From which deduct estimated receipts {rom Sppticanie hear trap Lao rad te {he reserve. she Weed een toons ees oe branches of rapeyerys in his fepartment A pect prosperity to the States and parts Fae, a hee Navy Department $177,010 ordiuary sources, as before stated......... 206,836,539 | ably auy deductions trom alate ave been | tnoso payments will be available as part of tho additional | 8 1 tin tclarealn of tines oe, Ceeeaoes, and portage Bel lg Age lbe aa {terest on debt... 25,014. given, loan required pal especially in the operation of those most receatly brought | at the same time securing the rights and. welfare and may be stated, without much risk of mistake, at twenty five millions of dollars, The Secretary perceives 20 solid reuson for retaining the restriction on loans, in this form, to one hundred millions. It may, ag he thnks, be usefully removed. As the advantages of these deposits become better and more generally under- stood, the loan in this form will doubtless, in the absence of restriction, be largely increased, and the possibility of demunds for reimbursements, beyond means to meet then, caa be fully provided for by an increase of tho ex- istiag proportion between deposits and reserve. Such an arragement, the Secrovary inclines to think, would oper- ate teneficially by increasing the amount of currency whet unusual stringency shall require increaso, and ro- cae it amount when returning ease shal! allow re. jucton. ‘Another portion of the additional loan required may be obtuined through the sale of the remain the bonds knewn a8 five-twentios. The amount of bonds un sudscribed for on the Ist of December was $101,059,600 i¢will not be difficult to dispose of these at par, and it is possible that a small premium may be obtained on a t i & former report the Secretary placed the limit, to which the loan in the form of certificates of indebtedness could be carried, at ope bundred millions of dollars. Ex- perience has shown that it cau be carrted to one hundred and Gfty millions, and that its natural Limit is about that sum. On the 1st of December tho amount of these cer- titlcates was $145,720,000. It would be unsafe, therefore, to rely on any substantial increase of loan in that form. Tue limit prescribed by law to the issue of United States notes has been reached, and the Secretary thinks it clearly inexpedient to incroage the amount. When circulation exceeds the legitimate requirements for real payments and exchanges, Qo addition to its volume wil increase il value. Oa the contrary, such addition tends inevitably to depreciation; and depreciation, if addition be continued, will tind its only practical limit in the utter worthiessness of the augmeuied masa, When Congress authorized tho creation of dabt, to a cor- tain extent,in the form of United States notes, and impressed on these uotes the qualities of a circ: lating medium, its action was justified by the disappearance of coin in consequence of the suspeysioa of specie payments, by the necessity of providing « sales Leaving to be provided by loans $544,978,543 aes stetsiments _iastrate the fst importance of Total gross estimate... .....$893,346,931 The sum to be provided vy loans represents the in- | Providing, beyond all contingency, for ordinary expend: Bot this amount, it was sup crease of debt during the year, Assuming, therefore, tho | tures and Le ytan ey debt, and for ie lar ies possibla posed, would remain 1 coreoctness of the estimate which puta the debt on’ the | hmouut of extraordinary: sepeeiecet hy em Ie, drawn at end of » 1s) of July, 1864, at $1,696,956.641, it will result from | Poppomiem 8 the, amount raised above the neces was therefore ded those estimates that the whole debt will have reached ou | Duvlon or debt, the diminution of interest, ead ots the gross estimate tho 30th of June, 1865, the sum of $2,232,985 ,190, ae al cel ho nee Oe ee Tables are appended to this report exhibiting, in more | paheOtouane Of credit. Tt ia hardly Ph ages Making actual estimate dotail and in a different form, the general results already | ror" Ocernordinary expenditures or redustioe or denen Ia his last report the stated. The first shows the ‘actual receipts and expendi- | Wo.tn two in the imtremed valle, OF ee og, Of debt is Proprintious stiouid equal the estimates, the balance uo. | tures for the fseal year ending June 30, 1868; the second | Worth two in t io locrensed value of sational securities, expended at the ond of the year would probably reach | the receipts and expenditures, actual and estimated, for | $4 lncreased facilities for the negotiation of indispensa~ 200,000,000, and that this sum should therefore be de- | the fiscal year ending June 30, 186 rately for ; - Guotod {rom the departmental estimates, to make the ag- | the two months of povaber Og eer Tyith | _ These statoments illustrate equally the importance of gregate correspoud with probable conditions, The above | notes, showing in dotail the amount received from new | 24 economical and vigorous prosecution of the war. No Statement shows that the a ate of ostimates, thus | Joans'and applied in discharge of existing debt during the | Prudent mon will recommend economy at the expense of reducod, was $603,546,821, while the expenditures were | first quarter and the first two months of the second, and | “lliciency. Such nominal economy is real extravagance 714.709 900, excooding the reduced estimates $21,163,074. | the amount yet roquired from loans for the year, and the | But efficiency is not promoted by profusion or waste, From the actual expenditures, $714,709,995, tere must | probable increase of the public dobt, tho third | 824 least of all by misuse of public monoy or public be deducted the actual receipts, $124,443,313, 1 order to | ghows the estimated receipts and expenditures for | Property. Every dollar and e man aro (reely offer- Show (he amount derived from loans, $50,260,082, which | the fiscal year ending June 30, 1865; the | °4 by & generous people: how saored the obligation that sum, aided to the amount of the debt on the ist July, | fourth is tte Register’s statement’ of revenue | S0¢ one man should be wasted, and not one dollar misap- 1302, $508,626,499 (heretofore erroneously stated at | and expenditures during the fiscal year ending June 30, phed. Nor is rashness, in war, vigor. But the vigi- $14,211,371). gives as the true amount of the debt on | 1863; the fifth is a similar statement from tho same office | 'a0ce that misses no opportunity, the energy that re- the Ist July, 1963, $1,098,793,181. for the first quarter of the fiscal y . | taxes no offort, the skili that vitalizes all resources, Tho estimates for the current fiscal year, 1804, next ] tember 30, 1863; and the sixth is a complete statement | 224 tho perseverance that never grows weary, thease claim attention. These sro founded on act»al receipts | of the origin, progress and condition on the 30th June and | "Ake true vigor. If by such vigor the rebellion can be and disbursements for the first quarter, which- ended | goth September, 1863, of the national dobt, suppressed, and the war ended belore the Ist of Juy September 40, 1363, and on opivions formed u proba: } REPORTS OF THE COMPTROLLER OF THR CURRENCY | POXt: tile country will be saved from the vast increase of bio events and conditions as to the other quarters. ‘AND COMMISSIONER OF INTERNAL BEVENUE. ‘ betsree must beonaearlly, ber eyond continuance dur- ESTIMATES FOR THE CURRENT FISCAL YEAR. ‘The reports of the heads of the several bureaus of the | 26 auother year, and the debt itself can at once be The following statement exhibits what 18 tually department, including that of the Comptroller of the pes hth Pelee ali reget oekeg trent led known and what, after careful reflection, the Secretary } Currency hud the Commissionor of Internal Revenue, will curities will rapidly rise, and reduction in rates of inter- thinks himself warranted in regarding as probable — also accompany this report of the Secretary. They show For the rst quarter, euliag Soptomber 30, 1863. the | jy dotail tuo “operations of lis several beranuer eaaaay | est Will gradually diminish tho burdens of debt actual receipts were — Statements and suggestions made ia them are commended | NECESSITY FOR PURTHER + LOANS—GENSRAL DI3TBI- From customs to the consideration of Congress. BUTION OF THE DEBT. From interna! re Auothes statement, showing the pricos of the leading Watle the Secretary thus earnestly urges that the largest From tands. articles of comsumption at New York, on or noar | possible proportion of expenditure be provided by direct From miscellan the first day of each month, for thirty-nine | coatributions from tho property and incomes of the peo- years, commencing with 1825, pre: | ple, ho i# aware that a stiil larger proportion must ,aa yet, pared under the direction of the Secretary, and | be provided by loaus. accompanies this report. From this statement he hopes In the creation of debt, by negotiation of Yoans or other- that some help may be obtained toward correct opinions | wise, the Secretary has kept four objects steadily in ee ou many important questions, and particularly those oon- | view:—(1) moderate interest; (2) general distribution, into ox: ‘The Comptroller of the Currency reports the organiza tion under the National Banking act, prior to the 29th of November, of one hundred ava thirty-four associations— all of which, upon the suggestion of the Secretary, have adopted the hame of National Banks, distinguished by or- der of organization and of locality, These ABso- ciations have been formed wm seventeen States and the Inatrict of Columbia, and bave an Fe ged capt tat of $16,081,200. The great care labor re- quired for the preparation of suitable notes for the new na tiona! currency bas delayed ite issue beyond expectation; but the printing is Bow begun, and tho several associa- tions will be supplied with the amounts to which thoy are respectively entitled within a fow weeks. Lesides the associations reported as actually organized, there aro many others in process of organization. Thore ts hardly a State not controlled by the rebellion, and hardly a con siderable city, in which # national bavking association has not been organized, or is not being organized. Evou New Orleans is not an exception to this statement. ‘Thus the great work of introducing a permanent national currency has been entered upoa in aspirit and with an en- ergy which promise perfect succs ‘The Secretary thinks he risks pothing in saying that within the present year the benefits of the system will have so approved thom selves to the sense and pairiotism of the people that it will be beyond the reach of successtul assault. A UNIFORM RATE OF INTEREST RECOMMENDED. The Comptroller has indicated some amendments to the law which the Secretary concurs with him ia regarding 43 important to its success, As among the most essen- tial of these, the Secretary #sk3 the special attention of Congress to the proposition for a uniform rato of interest, and the repeal of the section which connects the isaues of national currency im any degree with State banks. The Secretary also recommends, as likely to be useful, a pro- vision to be made by law for the deposit’ with uational banks, and also with the Treasurer and Assist- ant Treasurers, at such rates of interest and for such periods of time as the Secretary may prescribe, of moneys paid into or invested under the orders of judicial courts, It ia not impossible that in this way many mil- ious would be placed in the Treasury at moderate rates of iatorest of the loyal and eofranchised people. To these resulta the labors of the Commissioners of Direct Taxes, as well a8 judicial action under the acts relating to confiscation, must largely contribute, Already, under tho sales for direct taxes in South Carolina, considerable properties divided into small tracts: have passed into loyal posaes- sion, and are cultivated successfully by the labor of froedmen. In this connection the Secretary aaks permis- sion to repeat a suggestion heretofore made—that tho pre- ceeds of cotton raised by the freedmoa before emancipa- tion, and collected from those properties, should be ap- plied iu some judicious way for the benefit of those raigod it, The whole subject will doubtless com tho attontive consideration of Congress, THE DRAFT COMMUTATION MONRY. The important and responsible duty of securing aad keeping, under the direction of the Presideot and War De- revenue, at the inatance of the secretary of War. In the judgment of the Secretary of the this money should be paid directly into the aod drawn out upon requisitions for the purposes which it is appropriated Congroes. ‘The tary of War thought, however, that other mode of collection and disbursements would be less burdensome te drafted men and more convenient for the payment of sub- stitutes. His wishes were promptly complied with, aad tbe whole matter is now submitted to Congress. THY FOREIGN AND DOMESTIC COMMEROR OF TER UNITED STATES. Under a resolution of the Senate, adopted on the 12th of March last, the Secretary bas takon mea- sures for the preparation of the fullest statement possi with existing means of information, of the foreign domestic commerce of the United States, including that of the Pactfic coast. The learning and ability of the gea- tiemeo employed in this work warrant the expectation that a yory instructive account wil! bo obtained of the condition and prospects of our foreign commorce from and to the Atlantic aud Pacifie coasts, as well as overiaad, northward and southward, and of our internal and ipter- rll Total actual reo quarter....... To whicu add balan oe The Secretary bas already referred to the.recommenda- Making total receipts of first quarter, except cerning the contraction and expansion of currency, whe- | (3) future controllability, and (4) incidental utility. medium in which taxes could be collected, loans received, | tion of the recline ein priatEecaeta interme oe Cen ny a rere Karin or Ge istaeaal commerce: loans... aia pe aeelosion seseeess $46,268,500 | ther metallic or paper. ‘Towards the faccomplisbment of the first object, the | aud payments made; and by the obvious expedieucy of | iicroaced duties. He cannot add anything to tho goneral | Or" PM vay reports of br ate pate For threo remaining quarters, ending on the It has been already seen that the amount roquirod for | nearest approach that geoms possible has been made. Tho | Providing that megiium in the form of nationa: issues it | considerations he has already urged in favor of augment. acd cacale cnet oanten = od on : 80th of /une, 1864, it 18 estimated there will general disbursements, exclusive of payments on account | earliest negotiations were at the highost rates of interest; | stead of resortingYo the paper of banks Under the cir- | ‘0 revenue by these methods, "tt may be useful, bow- | a Bic eer ge cooasional ber! be received: — of public debt, for the threo last quartors of the current | for tt is a distinguishing charactoristic of our financial | cumstances its action was wise and necessary: but it was | vor, to invite special attention to sme cdBsiderations | Publications Dg rade and business, Thia From customs From interaal From lands. From miseettaneons sources... 18 a department of statistics comparatively now and difa- cult of exploration; but no paing wilt be spared in the search, in the hope of being able to submit to a result, of no ia-ignificant value to the business commual- ty and to those charged with the duties of legisistion aud administration, which will itself suggest the acl “necessary to oularge and protect the i:nportant interests. fiscal year, was, on the 1st of Uctober last, $579,457,667, | history in this rebellion that the public credit, which was of which sum $115,300,000 were expected from ordinary | at the lowest ebb in the months which preceded ita break. sources, aud the remainder, $464,157,567, was expected | ing out, has steadily improved in the midat of the terri. {rom loans, bie trials it has brought upoo the country. The first loans ‘The receipts and expenditures during October and No. | were negotiated at seven and thirty-hundredths cent, | vember, other than on account of principal of debt, amount. | the next a seven; the next at six; moro recently largo ed each, 80 far as bas beep ascertained, to $147,060,731, | sums have been obtained at five and four; and the whole ‘equally wise and necessary to limit the extent of the is- sues by tho necessity which demanded them. They were wanted to fill the vacuum caused by the disappearance of coin, and to supply the additional demands created by the ivcreased number and variety of money payments. Con- gress believed that four hundred millious would sufiice for these purposes, and therefore limited issues to that which enforce the recommendation of a duty of 22-6 per cent & year on corporate note circulation. ‘The proposition coutempiates a duty of one Atth of one per cont per month on circulation and the Soc- retary suggests, in addition, ove twenty-Gfth of one per cent ou deposits in each month, making twelve twonty-lifths a year, Under the existing law the duty on —Making a to of recaipts from ordinary olved.)? sources, act and including without balauce. Of these receipts $36,629,703 were | of the debt which is represented by United States notes | sum circutition ig ode per cent a year on a certain propor. | ‘2 balance, Of,.........+++ ws. <s+zcU61,668,600 | fron ardiuary ‘sosrouns meal SLR ESLOET OG eee, | sad tramtienat: oaereeee ane ohio oo pee The Socratary proposes no chango of this imitation, | ‘ion: two per cent on amounts exoeediag that proportion, cee Eee eaetion ch meterseting cab aea eee To which a4 tuoactual aud estimated reqeipis either temporary or permanent, leaving to be obtained | _ The interest oa the debt which existe in the form of | and places no roliaace, therefore, oo auy increase Of Fe- | sud ono-fourth of one por cent ou depoaits. ‘The sinall ad: | (We Secretary has takoa moasnres for preparing From Lows oan e oo ane rece soos 2, $94,000,000 | uring the remaining seven months (rom ordinary sources | Treasury motes and certificates of indebtedness, or of do- } sources {rom increase of circulation. Additioual loans in | ‘ition proposed will not be regarded as uoreasouable or Departaeat, with a dagen Or miscems eaiee pe ew Making @ totat of actual and estimated re- $79,670,296, und from loans, $55,226,539. On basis | posits, aud is called temporary debt, is paid in United | this mode would, indeed, almost certainly prove illusory; onerous, when it is considered that al! corporate oircula- pa’ » legit LA ceipts from all sources, for 1864 $755,568 500 Of these twe months the receipts and expenditures froin | States votes; while the interest on debt which exists in ‘THE EXPENDITURES ACTUAL AND EStIMA1 ordinary sources (or the last three-quarters of the year | the form of bouds, and is called (unded debt, is paid in ‘Tho expenditures may be stated as follows: — will respectively exceed the general estimates by | colu—a discrimination which is intended to bring the For the first quarter, ending September 30, 1863, the | $43,035.664, and $39,532,257, making a difference in favor | pay ments of coin interest within moderate compass, and Actual disbursements have been: of the country of $3,501,406 at the same time to offer special inducements to invest. For tho civil service... $7,216,939 ‘The Secretary admits, thorefore, no apprehension of | ments in bonds, in order to avoid a too rapid increase of For pensions aud indians... .... 1,711,271 deficiency on comparison with estimates tn any of tho | circulating notes and conse ueut deprecietion. For War Department. ses 144,387,473 ordinary sources of income, except, perbaps, the | The average rate of iuterest on the whole debt, without For Navy Department 511,018 internal revenue ; oor does he anticipate auy’ for- | rogard to the varying margin betweou coin and notes, was midable difficulty in providing the amount to be | oa the first day of July, 1862, 4.36 per contum: on the obtained from loans. especially if the successes vouch. | first day of Jauuary, 186%, 4.02 per centum; on the first for diminished value could hardly fai! to aeutralize in- creased amount. Suticient circuiation having beea already provided, the government must now borrow, like any other em- ployer of capital temporarily requiring more than income will supply, and rely for the credit that will secure ade vantageous loans upon good faith, industrial activity, ac cumulated though pot immediately available capital, aud satistactory provision for punctual payment of ac- cruing interest and ultimate reimbursement of capital. ‘to subscriptions for the remaining five-twenties aud sures decided economical advantages, aud warrants the expectation of satistactory reaults. ‘The Secretary, already invited attention to tho reports: of = Register, the Comptrollers, and the several Auditors. ‘The Report on Commerce aud Navigation for tho fiscal year 1862, preparcd in the Register’s office, bas beew greatly delayed by causes explained in his report, The same report for She fiscal year 186:: is also nearly ready, and will be sent to Congress within the next month; important information will be found much better clas- tion is in fact aloaa by the people.to the banks without cost, except that of preparation, and without interest, ox cept the duties imposed on it. ‘The whole question, then, regolves itself into this:—Is the duty proposed, added to the State taxation, and the cost of preparation, more than equivalent to a fair interest for the loan? If not, sure it snould be paid without demur us a roasonablo cou- tributiod to the common weilare The duty proposed on deposits is much lighter, for obvious reasons, I whole amount is leas than one-haif of one per cont per annurn, and, being ip the vature ax 00 profits, ratber For iatereat ou public debt. 3 g 1d much more cloariy stated, end Wexpeadi a . fed b lous Provide wo ring the | day of Jfuly, 1863, 3.77 per centum, aud the first deposits tor temporery loan, therefore, must be di wilt t tselt tw sited and arranged, an M 5 Theos cates sucsecenss sacs ssss sscvvcéo$1T@)140,608 | tateuten menion Shallcoetiams Up alteeateae 8 || coteuones Maes tAteel or cores on the frst day J fected all reaaovable expectation of manta for the sor. | ‘hall OM property. will distribute itsal hod pres badly | {uerefore much more .tecepiable for use, than heretsiore, For the remaining three-quar : But no one oan be moro profoundly convinced than | — It will not escape observation that the avorage rato ig | Vico of the current yoar, except from negotiations under | [a‘hone, yaad ne promote, the intents, the act Of last session. The sims to be looked for from these two sources have already boen stated, and amount to $126,069,600. If this aggregate be deducted from the ataount to be provided by loans for the Yast tors the eatim: of commerce aud e: ite futuré reports if provision be nade for the monthly, or at least semi-aunual, publica {iva of the returns of imports aud exports THE COMPTROLLER AND AUDITOR BUREAGA: A | himself of the vory great importance of providing even | now increasing, and it is obvious that it must contin Propriations ana | a larger amount than is estimated from revenue. ‘10 | .to increase with the increase of the proportion of the ciences, are as follows:— : | check the increase of debt must be, in our circumstances, rost«bearing to the non-intorest bearing debt. And as For the Civil Serview..... ++ $27,050,972 &prouinent object of patriotic solicitude, Tho Sec: the amount of the latter, consisting of United States notes It is proposed to make (he duty payable in amali per- contages. because it will be thus distributed over the bysiness of the year, and because, by requiring monthly returns Of circulation aud deposits with reference to the ‘ c yo ’ E ion of the Second Comptrovior, that tho For Pensions aud Indiaus 6,129,042 tary, therofore, while aubmitting estimates which require | aud tractional currency, caunot bo materially augmented | seven months of the current your, already shown to be | ities. information wil be regularly obtained in respect 4 THe Suggestion of ¢ A For War Department 141,092,037 large loans, and while ho thioks It net very. difious to | without evil consequsaces-of the most serioze character, 2 a te eit Oe $22 106.909 Tc the amount of circulation of ati descriptions im the | Ties 12 Grote PW tic is ated For Navy Depar sags 94,467 567 negotiate etme himself bound Lge prudent ate the pete nromies eyes ce with the debt and A ane Provided. by nest esas badger si ry eriaad tk whole country, the pubiication of which will be aa ium- ec ere hrs aust 1 ae ti - Leet For taterest Miblic debt...... 64,881,608 to possible contingencies, to urge on Congress efliciont { proach continually the highest average. That must 409 * 2 Sf Qortant Denelit to ali men of bus ness, as well as a valu- ss lormer, is reapectt pene a A RALON 098,621,027 | measures for the increase Of revense, Zreater or loss in proportion to the duration and cost of | like mauner, if the continuance of the war stial commended 10 legislative consideration. _ It eauctieved: able guide to fiaaveial legiaiation and adminiatration. Monthly returas are now required of many of the pa onal banking associations, aud shouid be roquired of necessary, the sum of $644,973,548, estimated as like — It ts li ditional amount of fn- | the war. ma aay toldarlyea'tromn teats ¥ oo ly bo be required (rom loans for the fiscai your 1865 jaw it wilt doubtless promote accuracy and prompti Making a total aggregate of actual and esti- } Come may be derived from judicious modification of some | ‘The general distribution of the dovt into the hands tu tue revision of accounts, mated oxpenditures Of.-..+.<ceeceess- c« 099,731,000 | Provisions of the laws imposing duties on foreiga imports; | of the greatest possible number of holders bas been | lie act of last session authorized the ioavs wupposed t> Fi: and (rom thom, ax’ weil a3 from the banks | , Tue vast expenditures of the war, ia life and troas But an thon estimates inciudeail anexpends | but tho chiet cctianon tor any substantial inerease, and | the second ‘objont of tho Savretary uta create, | be toquirod (or the fiscal years 186: and 1864." and, of | Organized under datioual logisiation, should be re: | Wve devolved unexpected labors Go the Auditors: twas. ed balancas ot appropriations from (ormer even for the prevention of possible decrease, must be oa J This bag bean accomplished by tho universal diffusion of | tue amouat required for the service of these two years to | hes fair contribution to the general burdens of the | TAC. aud especially those ot the an a years, they are necessurily. much too internal duties. United States notes aud fractional currency, by the dis. | the ist of Decomber now curreat, one hundred and Afty | Mooi,” he Secretary. retors, to Congress. the question | i0rs: and the difficulties attendant on the Premuieation large,'and chore may be safely deducted AUTIOLES RAQOMMENDED FOR ADDITIONAL TAXATION. | Sributlon of cortifigates among groat numbers of contract | millions in United #tajee notes, and Afty milllous by 0 | whether the daty on national currency and tbe deposits | 9” & proper force for the settlement of tbe suddenly eooe- from thoir aggregate, as likely to remain | | The Commisstoner of Internal Revenue recommends an | Creditors and temporary depositors, and by arrangementa | loan for two years five por coat Treasury notes have 7 4y national bankiug asdociations shalll correspond with 4 MUlsted accounts have caused some delays, wi already beon provided under that legisiation. The act is so we!l conceived and expressed that little otber legislation for Ube loans of 1864 and leeg pape rest visions. ‘Te'will douptiess be. ehornt expedient tins sea. aioa, a3 last session, to authorize the borrowing, in some form, of three hundred millions for the’ curreut aud six bundred millions for the next fiseal year. Indeed, tho ouly modifications of the act of 1ast séssio hecossary to adapt it to the requirements of the curreu and coming year seem to be. (1) the omission of al! refor- ence to the United States notes beyond the giving a sim ple authority to the Secretary to ascertain from time to time the amounts destroyed or lost, and to replace thom by new issues (2) the repeal of the existing limitation of the deposit loau to ove buydred milliong of dollars, and the substitution of a provision for a reserve equal in amount to Lalf the deposit (3) the permissiog of the negotiation of loans redeemable absolutely at pleasure, ar at pleasure after a time fixed, pot more remote than forty years; and (4) the omission, perhaps, of the clause taxing circulation aod deposits, as being more appropriate to an iaternal revenue bill. "It is hoped that the other provisions of the most streauous efforts have been made in vaio to avoid. It is hoped, however, that the accumulation will now Be arrested, asd bencoforth steadily reduced. The Socreta- Ty respectfully saggeste that some provision Be made by which officers of the ment may be ea- abled to attend the armies and pepscaly far iY the iongen » the missing and toe killed, which will facilitate t) t eltlomens of the claims made in behalf of ‘adstituto families, end widows and orphans. increase of the tax on bank note circulation to two and | to popu tov Ail ize the loans by giving gto ihe poopie every y it 8 hese sub- of the dut; on distilled eiere popactnnl roy ubscribe ds. sul Spicits to re fee ‘attaugwer te HAVE. toe Leaving the total actual and estimated ex s = tobacco cd twenty cents é penne om Jeet, nd tron aditures for 1864 setae 749,731,960 | five to twelve cents, according to quality ou manufac- Tao total of expenditures being ed tured. a duty of ten cents por gallon on crude petroleum; | ly kuown as soven thirties and five-tweatics—s0 named, from the total of receipts, there will be au a duty of two cents per pound on cotton; the repeal of | the first from their rates of interest, aud tho estitnated balance on the JOtL June, 1964, 0f 5,836,539 | the tobacco and petroleum drawbacks; and’ various other | (rom their periods of payment. Tho plan of disurib- nges of the interval revenue iaws, deaignod to aug- | ting tho seven thirties was that of employing a From this statement it appears that the total ment the receipts from this source. ‘In the particular | large number of ageats in many places, and direct. receipts required for the probable disburse recommendations just mentioned the Secretary fully | ing their action from the Department. It worked meuts of the year, and including estimated concurs, aud cominends all bis tions to care. | well for atime, but was soon found inadequate to the balance at its close, will amount to $755,568,500 | ful attention. Tbe enactment of such faws.as will se. | Avancial necessities of the government. For the distribu Of which there have been provided and ap- cure an iscrease of tho intornal reveaue to the amount | tiou of the five twenties, therofore, a different plan was plied during the tirst quarter......... 176,110, originally estimated, of one hundred and fifty millions a | adopted. Atter ascertaining, by inquiry, that they could pa year, ig required by the strongest considerations of public | vot be disposed of to capitalists in amounts suflicient for poner. prompt Pig hmody om bie sian cakes ween: vANC I faction of the just claims of public cr rally, FINANC(AL ADMINIS ee AS DEMANORD BY THE | faction Of U im the seratary dori tempi f ‘a " a geveral agent, under adequate is, and confide the joats toan extent ebich nothing. but the ‘expectation of | hole work of distribution —oxcopt go far as could be its speedy termination could sully warrant. collected by the Treasurer, Assistant Treasurers, anc dos. the duties on other circulation and deposits. He thinks that for the preseat, at east, some discrimination in favor oC Uny gatioua! associations nay be properly admitted in consideration of the indispenaable importance of a oa. tional currency, Dot adapted only, like United States notes, to temporary emergeucies, but permanent in its very Dature, aod adequate to domands of business, and capable, at no distant period, of being made equal to and convertible it coia, and therefore its real representative oud equivaleat OVERATIONS OF 1K MINT—A DACIMAL COINAGE ‘The operatious of the Mint Lave besa of less import ance than ustal during the last year. * The amount of comage was increared over that of jast year at San francisco aluue The vatuy of the builioa re cowed was $24,524,101; in gold, $23,149,496, and ja silver, $1,674,605; from total of which must be decducted the bars made at one ch and deposited tor making tue actual amount deposited Comage of the year was $24,688,477; 20 695,864 was gold com, $1,949,877 gold 4,002 silver coin: $190,204 silver bars, Unexpended at the close of the fiscal yea: the sum o} sopae a ea tae THB FRAUDS ON THE NEW YORK CUSTOM HOUSB. ‘Tue report of the Solicitor will exhibit the action of that officer in the investigation of Parr] ou gtieeng led certai® persona formerly employed ia the tom House. The legislation of last session, the promps dismissal of the guilty parties yet remaining 10 office, aad. the measures of prevention devised and adopted will, it le bolieved, sufficiently protect the goverument agatast tae repetition of these or the commission of tike frauds. PURCHASE OF THY MBROHANT'S EXCHANGE. — The Secretary renews the recommendation, submitted ia bis lo3t report, of the purchase of the Merchants’ Ex- Leaving to be provided “ Of which it is estim from ordiaary sources duriug the three other quarters: i Leaving yot to be provided by loans. i positories—| b-agentaj designate ra k col 4 lh rece ariel ti a bie Sane Oe ee cee runmeen Nscceniine tasmedast ee nin. Coder tui | (ast may be rotainod tm the new loan act. esse ies 2 OF ST omnere ALENT ID | Oe ee. a Oe Hope, the age ts and bata | Suu ‘inaetat covaitonanysten of taxation cortain o | Di, aachiely Carough the indatgabie forts ot the | Unues wie cgabtion thw Secroary eatortaing iti TEATS ploces, at Hau Franoltoo, aad $2187 beh, Ws THE COAST SURVEY agreed you ~ . ‘ D of Detog: es nd ye es ul & 0, het f iy from last ting together to.$46,205,000, which | produce a sufficient revenue to pay the whole ordinary | Bcderal agent aud his sub agents, five-twenty bonds to | doubt of being abicto obtain whatever {unds wil! be ne: 404 gold and ativer bars, at New York ‘The operations of the Coast Survey have been distia- ed, through Jans, at reasonable rates of un or Troasury notes THE CIRCULATION AND RISE EX PRIUGS wartdat of Uhi¥ contidence, however, te must not ¥ that be relies much oa the support to the public ered: and by the vation the amount of nearly four hundred millions oi dollars, in denominations of fifty, one hundred, five hundred, and one thousand dollars, were distributed — throughout Test, Cor Gives as (he crease of debt $129,842,402. To this sum, | expenses of the goverament in times of peace, 1 there be added the sum yet to be provded by | and the eutire interest oa the pubic, debs, and ans, $464,157,587, the result will be $594,000,000 | wo create 4 gradually increasing fund for the re- . oinnd if mn which if @ bo deducted the estimated bal- | demption of its principal, was indispensable, It was | tue whole country | not cont Pd oueien » on the July, 1964, $5,806,099, the re- | not important, 80 loug as it seemed highly prabable Tee'bs re cra ple may be searched in vain’ for mainder w 55,165 460, and will represeat the | that the war would be speedily brought to a successtul ee aie pot Boo car feanolal support 00 © aintlanal Lotal iacrea he basis of these estimates, of public | close, that the revenue euould largely exceed the ordina- | Pt popu The branch mint at Deaver bas beea organized and put i operation duriag the year, but its operations are con- fined for the present ty molting, retaing, assaying and seamping button A report has been maie ona site for a aiat in Ne and measures will be ts establishment as 000 gutsbed by even more than usual activity, Oa the North- ern coast the work has been vigorously prosecuted, potwithstanding the existence of the war; while, 19 com: pliaace with applications from military aud naval com- mauders, parties have been detailed for work on Southera coast, oa the rivers of the interior, and, indeed, wherever their services could be made available, From c jovernment. The Secretary t6 woable to perceive in | is, as ho thwks. 90 possibelity of a permanently - ; debs gariag 8 Ce eee nee ee ne eae cate Foie | whist better or more ellectual modo the important object | svicrss‘u aiministration “of tbe daances, | under bapednadtendl an ce tnt odeheck Seppe yoergl ome nek ocd by bey f distribution coutd be accomplished, and he proposes no | circumstances involving the creation of large debts, un . rips ; he: been rendered, the value be added the total debt ou the Ist of July, 1864, will be | of the extraordinary expenditures by loans, and thus | © cs . I pos. 4 gs gets raatiwnal decimal coiaago. a the survey and the its of those by w 1 is com. $1,946,960,041, instead of $1 744,035,586, as demmated io the ec eanity of ny considerable increase of the | “departure from it, except such as coksiderations Of @cou- | less Ioaus cag be effected in a medi of generat and ASYRY PROPER REVORT ducted receive fresh illustration. equal credit throughout the country, and aot liable to variation (n quantity or ia value except under the opera. tioa of vatioual legistatvon and the general laws of trade Ouly two Kinds of currency Futlli these cond tivns—toe first, a circulation of com: the other, the circulation of of uniform description and valuo, issued by the eroment, aud ober paid directly to government ors, oF to banking associatioas to be em ployed io The circu except So far as it consists of b Sort, and nO cirealation not 1 coin can be better harmonizod'with efficiency , may sup gest. ns of the people at a time whea a sudden outbreak | OY: san robable, that the actoal | of a tlagitions rebellion had deranged their business, and Tho object of future controllability bas also nad @ prom . hyiee aed ae iwent place in the regards of the Secrotary. Updor the eee Tor te eS eae aaa tiation cat the frst fiscal yoar | conditions which existed at tbe outbronk of the ebollion, conducted be acquiesced in the necessity which seemed to dictate ae Te ee vey Oats the, ocra | the negotiation of bonds payable after twenty years, but of July, 1861, wei framed with the | be scquiesced with reluctance, and as s00u a8 permitted Of supplying the full amount of revenue do- | Y¥ circumstances, recommended the euactmont of laws receipts disappointed expectation, | authorizing the issue, of | bonds payable, afto: y, Isod, $5,929,044, be aaded, it | and it soon became obvious that a much larger propor: | shortor periods. as Rim Pes rentioniay eomnmoeany otal ordinary resources $109,0%6,898 and | tion of the means needed for the fiscal your 1862, than lobt in eorms. eas for the issue of the bends known as the tue subtraction of this sum from the total expenditures | the principle adopted would allow must be derived from pet eee, ae pro tgong Gin or Tree tahoe erations of the Treasury proper have reached inprecedeatet magnitude. ‘hess are conducted, wn fer the direetion of thy Secretory, by the Treasurer, the \ssistant Treasire:s, aud the desigaated depositaries, by whom moveys which come tuto or go. out of the national Creasury recetved aud disbursed, As receipts aud payments bave wereased ia gumber and amount, aod assumed new forms, the labors and responsibilities of sv ofticera bave Laken vaster proportions of mayni- tude apd importance. The general operations of the are seen ia the statements already made of receipts and expenditures, but vo general Nt, the roport of ‘THE SEI7URS OF THE REVENUE CUTTRR LN PORTLAND HARBOR. Daring the last summer a pumber of rebels ran inte Portland barbor io the night @nd seized the revenue cut- ter lyimg there, its commanding officer being sick ow shore and a portion of the crew absent on leave. Thay succeeded in leaving the barbor unobserved, but earty ta the morning the Collector of the Port, bearing of the attatr, took instant measures for pursuit by chartering t passeoger steamers, arming them with whatever could be most promptly obtained, and providing the ue- cessary force of volunteers, citizens and soldiers. Ja @ .939 456 for the same expenditures , aod the total these receipts, if the valance on | manded by them. Bi the ordinary receipts, r, be taken as the stand of the year will is of the lat couvertible iat) will give Lhe whole amount to be provided by loans dur- | joans payable thres years from date; for certulicates of indebt It ts an error LO suppose that tbe increas of prices is J Meiwate idea of tt few hours the rebels had beem compelied to abandon thelr tig tie yoar a8 $500 350.501. This sum will therefore be, | | Wnen. therefore, Congress assembled in roguler seasicn | Oness, payable in be year, and for wmporary foana by | attributable wholly or 1m avery large measure to (his The sabo ps prize, aftor setting ber on fire and being themsclvos takem + ree Hee eee aes ae eet aay eae Ot ibcroased taxavion. | deposits, reimbursable after ten days’ uotice, “At dbo last | circulation, Had 1¢ brea possible to borrow coin enough, | Wig, Te 4 Of (he sums necessary to | prisouers. ‘ihe value of this capture can best bé estt- added to the debi existinggon tho Ist July, 186%, will | rected attention to the necessity of 7 make tho (otal amount op she JUG Jume, L804, $1,034,- | “he responsibility was promptly assumed by Congress, session Congress repealed sowe embarrassing restrictions 150,0 ahd .the Internal Revenue law was enacted, and auch | of former acts, and aveliorizod tie tie eee 11s Got impossible that vigor in the prosecution of the | moditications of the Tariff act wore made that ample pro. | Aa/tor ton yours, aud of Hrestary nolo, payable at: pions. war,and economy in every oranch of expenditure, en 1on for the desired objects was now supposed to have wuts cigars yr Tudirs thr Wate ules on counatien ter forced by wise legisiat, may redued actual disburse wn certainly #ecured. It waa not expected, bowev we rary then saab. Dasiea Staten nase ants and consejuent increase of debt even below these | that the intluence of this legislation would ailect the re. | Amount and wlerems Tite Haley Datel mites, figures, ang certainly few things caw be more desirable | gnisof the then current year. Nor did it affect them, The e * with te fe as large an amount sa possible nsuch Mductious total receipts from ordinary sources to tho close of that year | DY placing wi oun, ae Dy crig the olier vas ‘The action essary to these results, i6 not, | June 30, 1362, wore insuificient for the paymonts ex- | Of five.tweniy binds, ead By Nae, tt ae howover, except as to the comparatively small expeu. } pected to be made from them. Tho receipta wre $51,035,- | $0 as to put me ‘teat prompt edvamtese © ditures of the Treasury Department, within the sphere ) 720, while the disbursements for the civil service, for fay tom oh pose olla fy Becrimne 14 = asaigood to tho Secrotary. Le therefore provers to accept | pevsious and Indians, and for intorest, were $37,701,811; | be taken of favorable clrmumstenion Mo uliniaian the bur. the estimates of the several departments, aud tie actual | jeaving only $14,253,019 for the War and Navy depart. | deus it imposos cit induatey. | Minebovor the os ton appropriations by Congress based upon them, deducting | monts, the expenditures of which in the last yoar of 1 supremacy: Vai Cemmoedy unten my er ouly that proportion which experience has indicated #3 | perce had boon $27,923,017, and nothing at all for extra- | Pil 11s Darks it Wile eer a ti a Pane part hikely Co remain ay balances unexpended at the close of | ordinary expenditures or a sinking fun the teas porary debt in boads beariog a very mod Lewd the year. He thinks, too, that sound prudence requires Ip bie report at the December session, 1862, the Secre- J Of the ‘rapier’ Bonne tos ee tienes tr theeren adberence to the rule he prescribed to himself (rom the considering this dot and assuming the cor taterest aa coe pe Penarth wen era firat, of overstating rather than understating the burdens | rectiiess of the eat imate of $150,000,000 ax the ameuut of | ment, alter very brief veriede, o perliaps af any, tine created by the war and (be demands thence arising upoo a wal duties, and taking double the ox. | after a ir sronabinie q the resources of tbe country. He bas sought to 4 Nuvy Dopartments im the last year | score of controllability. | exaggeration on both sides, but be has thought it more the amount Weely to be enousliy re |, The dual object of ihe Sere ce cree ee Pradent to excite a litte too much apprehension than to | qy ¢ the suppression o, tho rebellion, ex. unavor noourage too sanguine bopes. The real difficulties have | pressed the opinion + probable pts | posal oe been, and are co seriovs, aad the real burdens too great, oe the Teg\wtoteen ‘of the preceding session would ‘ 10 shied ie eS authority to receive temporary not to warrant earnest demands on ail the resolution, all | meet ali ordinary expenditures for the ‘cat year 1863, | loans > ~— ae Fh caprekace teal wae the eaers7, iF the wisdom and all the economy whieh | ana iaterest, and leave a large surplus tobe applied, for ft Fis tenor wes togarde hon - DRIVTS AN RN OF NE SCAT 5 rt, therefore, and in his subsequent communications | St an interest aot berg A ot | insolver a - . ak, See Searetary i required te euvente eniauaee St | creuee Ss Cimitee? tae ckerceeamekor tan paamearsd . Tided a resetve of ty millions of United States totes to | “Nor can a oonditwon of alfairs ia which oxcesive prices tho receipes and expaniitare, of the vert Gacal year | other measures for thasmprorement of the public eretits | fneos demands for reimburvenen's beyond other cm | prove, or aaktoal note command less thea par ia cove, a ae, m ices vetiable than wena | curreboy weld the feremuonl ince voulont means of satisfaction. It waa vot long before | be regarded as of permancat duration. While it lasts it condition of the ¢ heer taerrtadhoge rth eo ein in tect to thos recommendations by the | theve deposits reached tbe highest (innit, and, before the | must be bore with pationce and made tolorable b But the Secretary is. ‘tw National Hanking act, bat at the same | Jow could be well checked, somowbat exceaded it. The | economy. No uselut romedy will be found in extray: jae Apne mernorene tl drama ga weber ten ‘aiion of tacome by | utility of the measure was very conspicuens on tho ro. | gant increase of salaries aad dixbursomente, but an ag- meet the debt becomiag due during the year, or, in other words, the making and applying of the loan beceasary to the renowmng of maturing loana, make little show in the ro- port, and yet embrace traasactions, often complex and no. cessarily multitudiaous, which reacued during the year ao aggregate of more than a hundred and eignty-oue mi- loos ot doltars. The responsibility and labor of the whole mogey opevations of the Treasury may beinferred from (his statement couceraing a comparatively small aad fast enough, for the disbursements of the war, al most it not altogether the same effects on pricas would have beea wrought. Such disyursemeats made in com would bave enriched fertuoate contrdclora, stimulated lavish expenditures, and so iadated prices ia the same way aud vearly to the saine extont as when made tu notes Prices, too, would bave risen from other causes The withdrawal from tmecbanical and agricultural occupa tions of hundreds of thousands of our best, strongest aud most active workers, iu obedience to their country's summons to the fled, would, under auy system of currency, bave increased the price o: labor, and by consequence, the price of the products of labor, while the prices of many things would bave rigea, ia part from other causes, as, for example, the price of ra‘iroad bonds from vast *Dcrease OF income. through payments for mili tary transportation, aud the price of cottou from def cleat supply. i? Much the greater part of the rise of prices not ac. counted for by the causes just stated, as we!l as much the greater part of the diflereace between notes and gold, |x attributable to the large amount of bank notes yet in cir Wore these notes withdrawn from use it ts be that much of the now very considerable ditfereuce between coin and Utiited States notes would disappear Certainly thore ought to bo no difference in tavor of coin, when it ts remembered that United States bonds bearias @x, or even five, per comt coia interest are jotrinsi mated by the damage initicted on commerce vy the same rebels ia the Tacouy, @ vessel evory way iaferior ta the one they had seized. The Secretary deepiy regrets that tbe Collector no longer lives to read this acknowledgment of is prompt, euergetic and judi cious action INSPECTION OF STEAM VFSSBLS. ‘Tue report of the Board of Supervising Inspectors of stoam vosseis, to whose supervision Congress baa wisely committed the employment of steam tu water tranaporta- tiva, is herewith transmitted. Tne importance of action may be inferred from the simple statement that there have been tospectea during the past year 933 steaas vossels, valued at $10,135 ,067,000, with ao aggregate tonnage of 405,000 tons, which bave carried, for sborter or longer distances, 6,420,000 » 2 invites attention to the suggestion of a safe aystem signals by sounds and lights adapted to the use of steam vossels, whether in the merchant or national service, aod which may, perhaps, be exteaded so as to embrac: tag vessels also, Such signals, w migit avert many disasters aad be the means of man: bevels, without at all interfering with any peculiar ays. oe pecial communication bet of the uavy. receipts at the office of the Lroasurer ia Washington Juring the last fiscal yoar wore $1, :43,029,643, and the disbursements $1,334,615,176 At the oftice of the Aaaist- ant Treasurer ia New York the id the aishursoments $622,542. Assistant Treasurer in Bosjon tha receipts were $118,900. 000, aud the disbursements $115 000. At the office of the Assistant Treasurer in Philadelphia the receipts were $115,245,051, and the disbursements $109,723 ,346. The receipts and disbursememts at the othces of the Assistant Treasurers at San francisco and Bt. Louts, aud of the designated depositories, especially at Baltimore Craciannti and Louisville, have ‘been iarge beyond dent, imposing labors aud responsibilities correspoud: ly large. Toe Secretary cannot express too strongly his satisfaction with the manner ia which these officers taave geooralty performed their onerous and multiform di CAPTURBD AND AUANDONED PROPERTY THe PLANTA- TIONS. ‘The act of Congress retatiag to capturot aad abaodoned property, approved March 12, 1963, and the proclamation of the Presient of the 31st of the same mouth, devolved upon the Secrotary the daty of regulating commercial in lercourse in conformity with the acts of July 13,1861, aod lay 20, 1862, and*under license of the resident, between the States declared to be io iusurrection and the other States of tho Union: or, to use the description commonly 3 g E ween vosiels JALE OF MOSPITAL BUILDINGS. The Secretary renews the recommenitation of hia last report, that authority be given to gell the buildings. erec'ed, but got needed of used, for hospitals, aod alse such other buildings as are unoccupied or not required foe the objects of their intended purposes. LIGHTHOUSK BURRAU. The operations onder the charge of the Lighthouse Surean have been satisfactorily prosecuted during the The Cape Charles lighthouse, at the catraneo of sapeake bay, was myths by guerillas in Auguat last Its recoastruction is importance to com- twrce. and should be immediately authorized and pro- cure ‘ b eport of | 2 - ployed, between the reve! aad loyal States. This duty 1808, SUNN Oo eb ct. coat cecasion of great stringency in New York, when the | gravation rather of the evil. All proper measures ehould been (ouna exceedingly artuous and perplexing. vided (or ye Ur ane Meer, omen ng this diminution, however, and not. | Secretary was able to reimburse over Afty imillious of | be adopted to hasten the roturn to the gortmal cowdition | “Prior to the act and proclamation of Marcty the secre |" Toe lighthouse system of the United States, volte pron morehings tebe iowa, eoeral | en tareor dimmimation cansed by the | these depowite during the last works of the yoar, by ‘and business. the patriotiam and tatelligence of tary bad attempted some restrictive regulations, with the View of preventing suppiies to rebels, but the state of the law and the terms of the original proclamation made it duficult to aet with much efficiency or useful. Nance ra on cxpuniel from mternal duties uoat. | which action the prosdure was seos.biy alioviated, with | tne poopie mu n for the rest - the use of onl Of the reserve The Secretary bas berotolore expressed (he opinion that y this legislation, tbe Secretary bes bow the | Tt Orme reports the Secretary has etated bi true degree in which the currency proves those of commercial sations geverally, ts mamtained Wholly at our own cost. The Secrevary tho o=- eucy of providing for ite support b ft fat tipulations will permit, by & ereattor, So far as treat) bed 0 sf The bene- ties aflecting thowe of the other three, « St is moro favorable than was auticipated. | allure he 1 ate receipts 1of 1864 were estimated in that | jected The ag : s, | sarisaction ot being able to show that the actual receipts ‘onvie | whatever mi report $23,025,000, while the actual r . tions, and tho grounds of them, respecting the necessity | of the country is allected by ness, avd the regulation of the trade was assumed ai- | sta'l duty oo tonnage for lighthouse purposes. oth tn rom loans for the first qua , and the | of the lust fiscal yoar did pay the whole tatorest, the " he 7 ail ri 7 ; y “ segregate expected like receipts for the remeioing | whole amount of ordinary expenditures, estimated (or | sud the utility of putting & largo part of the debt in the | lation, | isnued without nat fonal authority, and | oat exclusively by the military authorities. imme | Gu of the system accrue to foreiga at well as to Amort- can commerce, and its burthens should be apportioned accordingly c wo [Betoge d + A. 1 ‘of | form of United States notes, without interest, and adapted } corporations independent of a ce of the large deiiciency in the F so enpenaneres | ‘eneee tae Circutnetances, was equivalent to a | Changed, and seem now to be shared hy the people. For | that in some similar degree the negotiation of national Un the other hand. the aggregate expoueneess | * the first time in our history bas areal approach to a uni. | loans must be prejudiced and their value to the national diately, however, on the publication of the proclamation of Mareh, the Secretary iseued regulations of trade, framed on the best information and with the best cousideration be was capable of giving them CLOSING REMARKS. 83, and are {into @ sinking fund Io this report the Secretary Becossarily omits mang imated tant year at $949,413,183, and are now 69 Mika toil eanramn ee veceins during the form currency been made, and tho benefits of it, though | Snances diminished. ‘This opiuioa is conirmed by obser | ana earnest aod persevering gafeavors wore mado to | things, ‘but be eanot OMIM the expression Of bie cordial preening tnd Mian ayeaainate orth year 1863 was : $124,449,919 | SUIF far from the best attainable condition, are felt by all. | yacion and experience bring the whole subject under their control and uader | aporectation of the zeal, intelligence and fidelity which atimates for the r a ey the expenditures were — ang The circulation bas been distributed (hroughout the Couo- | 4 NATIONAL CURRENCY NRCRSSARY TO A SUCCESSFUL | proper supervison. Experience revealed defeeta in the | the officers of the Department lly tave brought Tee weberection of receipts Hee Tiron leans for tbe | fer ibe civil service and ter pensions aed try, and i# everywhere acceptable. it ts a gratification PROSKCUTION OF THE WAR Feguiations, and they were revised, amended, and re f the discharge of their several duties. To thotr Iabors be RICE ROW eutlenated a8 S ie he ye re | Indians. 21,470,442 | to Know that a tribunal so distinguished by the learning Impolied, therefore, by a profound seuse of the present | published in September last sensibiy feels and gratefully acknowledges that he is to- Ecrnslere ena eae teen aaew For interest . ; 124,729,846 | And virtues of ite mombers as the Supreme Court of New | qacossity of @ national currency to the successtul prose. | The subject 1s too vast add complicated, the appetita | debtal: in great part, for the measure of wuceoss whiets hor timate ey ee ee oe x, woe ture bet : . York bas given the sanction of Yts judgmout to the coosti- | oution of the war against roboilion, and of its utility at | for trade is too exgor and exacting, and the impatience af | las attended its administration, tt or tent year, be (nat, Uboual r Atmeate of War afd Navy Departavents, ett tutional validity of the I Ail ines so protecting labor, cheapening exchanges, faci. | all restraint, Lowevar salutary of iecessary, Is too groat, | — MUll leas could be excime himielt shuld ho omit to aay ; mated itt % ted at doable those of the Inst year of So, too, real and great advantages aro dorived from the | jating iravel and increasing the safety of all buainess | to allow any hope of avoiding many and sometimes just | bow distinetly be recognizes, on looking back throng! ‘en re mn will be . | mae 845,804 | Wide diffusion of the debt among the people, through | transactions, and at tho same time unwilling to urge | complaints. But the Secretary haa kopt steadily in view | year, the tokens of that Divine Providence which has Son SUBAGD lems by the Tetacet ¢ omer ah r : ‘= |_ business transactions, aod (rough the exertions of the | even aniutary aud necessary reforms in such A way na | the plain duty prescribed by tho law, of preventing any | our country through perils of every kind ng tony 4 ¢ age fe A at med | $10,046,129 | Officers of the department aod (be ageuts (or loans, at neodiossiy to disturb oxisting conditions or impair the | supplies from being carried into districts controted by | and grandly, under that ib care, the Groat vronce hatweet septa and or roady noticed. galue of existing investments of capital, the wah ‘a appieabie to extra It ts impossible to estimate the advantages to national | Secretary recommended, in two succomsive reports, Typenditures vy a sinking fund .. 16,997,189 J Unity and national streagth secured by this distribution. | the authorization of ational banking associations public bag moved oa. How confidently may wo trust the ar ne ee Citas, Secretary of Une Treasury Hel, It e rebelm, the equally plain duty of allowing and securing, 80 tebt, on July far a8 practicable, without intercourse with robels, 4 plies of necessaries to Loe (phabitant istricts i mai With es | ordinary bond , (r« t want, Deo. 10, 199: ‘ 4 pb Baik grantenl++ “ 0 suppress rebellion | Every bolder of a pote oF bond. froma five esot fractional | to which the capital of the corporations pow | the rebellion has heen suppressed, and the clear policy of Taxasce’ Darage pr Bal Nehelafi irate FL ee a ee eiti eres ‘tov pasce baste atver one year, | ote (0 a five thousand dollar bond, has a direct interest | fexuing vores for circulation might bo tranaterred, with | supporting at facilitatiug the otforts Of layal citiaa@s to cae pehnediona erm bon to useuk | Ce was amd Hotore the Tat of July, 1862, thers would | in the security of national inatitutvons and i@ the stability | qdvantage to the parties in interest aa well as tothe | obtain, whorovor obtainable, withont going beyond the THB TABLB. Saltled Wit whet Yr ke the . co on the Ist of July, 1363, 0f more than | Of National administration, And it is anothor and noamalt | gonoral public lings of National military occupation cotton, sugar tobacco, inst, lass Sor Usui tonite | sovteen wiiifious of Wollare applicable’ to he reduction of | AAvABiage of the distribution (hat the buethone of debt, | "The aanction of Congross was given to thon views fai | tar, rowiu.. and such other, products of tio Fobsl States, ? tans revere wi Hl od ies f flways Leavtent when loaus are held by Cow and ospecially | the tast session, and the simple agrurance thus given, } for tho benefit of loyal commerce. To this ond be has #0 See Fourth P; for these Important Btatement for the tical sear 1965, fou tho esti. | "a>: assuming a8 correct tho estimates of recoipts by foreigners, dumiaish in proportion aw the receivers of | that bencefortd the country is 9 havo a national cut. | lected persons of kaowa latelligence and probity I mi ponte thaw rements furnished by tho | dievarsemente for the curreat year 1864, based eo actual | interest become identiGed with (be payers of taxes reacy secured by a plodge of vational bonds, and the belief | pervising special agents, and through them others Finan Stemonta. : At seem to him provebili- | receipts and expenditures of one quarter, and making the | NATIONAL BANKING SYSTRM—THAER Uhat this currency will at oo Gitar t day take the place of | characters, as assistant and local spectal agonta, ——— on 09 ¢ pte rdinary sources Of Feveb le | total amount of receipts $161,568,500, aod taking the dis LIONS REQUIRED FOR THR YR the heterogeneous corporate currency which bas hitherto | exercise the necessary powers Wits — The Steams’atp Artet. + Ho eatimates the probable receipt Horsements for the civil rerviee, pensions and Indians, to Apother incidental goed growing from the bitter root | filed tho chanDols of ciroulatir,, at once inapired fatth ia | and bas imposed, with 3 fy By BaLrmonn, Bec 10, 1893 Fatimated bajance, July 1, 1604 5,896.509 | be $44,105,126, for interest, $50,166,196, aod for the ordi. | Of debt has bees fully explaiond i Obasrvations hereto. | the soourities tee Severumant, aod, more than auy | dont, and aa conditions conse, aan t The Fortress Monroe beat brings 0 aowe trom tha ro y ),000.000 | nary expenines Of the army and navy, aa boforn, to be | fore wubmilted on the AUoNAl banking aysiem. Except | other ono cauan, MW Bec 1 provide for tho | conttibutions on tho trade permitted as wore thought | | Th From int enue 125,000,000 | don ble Chore of Che Last soar of poace, oF 656 ,845,84, | trough Ruck « FYHLOM 40 Bure WAY 8 ROOM to Lhe com: | prompt paymoal of Luo Beldiers aad ihe public creditors, No Isthnas OF OLDE 9 ws hes Dees rece rod. From ands hérias 100,007 | ead deductmg We tal Of tuo dubursqmqais, | plete aad pormamgul oatabiaumen) Of @ uoiorm cur MU ihe per Ws ada i ve ture aad