The New York Herald Newspaper, December 5, 1871, Page 5

Loreto other Bureau officers, whoee duties are Burcly less important, receive only $3,000, me bouicitor ol whe Treasury is upon A pig * $3,600, while th ef luternal event whose gate are less important, receives a oalary 0; $4,000, ‘The heads Of division in the Internal rev- enue receive salaries of $2,600 per Tepe while ia every other brapen of te tne ee, they are selected from fourth class cl whose aaluries are naed by law at a, 8.0 & of 9 eet, ar, aitough tor weveral opr! made, from whi rca ary of the Trossury, tn lus discrevdon, has eased the salaries 1n bis own oilice to $280) per ‘agg@eration to say that the head of oe joans, of the be na account opgunien. 2 race in which the country and the more concerned tun in) that of the. cole fection of ‘customs at. New York, yet the latier Ouicer receives more than Mfty thousand onlers. B year, While it is with didicuity that the sormer t able to secure the moderate sum of $2,800. ‘rhe Bane remirk might with truia be made of several bureau oficers aud of persons. in the olice of the ‘Areasury of the United States, In this connection 1 also recommend an increase of the salary of the rvising surgeon of the marine hospitals, I ik itiny duty to*peak of the provisions of the ah Bee! 6 department, ‘The proper and essenttal daty’ of the icitors $18 10 ve advice to, the Secre- tary aud bureau oficers upon questions which ange in the dally Basie of the de races, Undor the existing system the Attorney made nominally responsible, whiic in tact he Ought Ww be exempt frum all responsibility for advice ‘nin ot ‘Dy twese Oilcers, that upon @ reference to hi questions which may have been previously ered by them be may I irae at Eaiteaiaes aera their action, These 0: Ollicers sould receive their ap- poinsatanse: through tue aremare Pacareeienk and ¢ responsible to us head. It ts. jamental error tu adininisirauion ies Xe in one ot the A apbirctaeg onicers: Gerpriay Sp pengttaens trom. auotber department, Should the iiearunens at Pie Wy-oyed ‘these oulicers to justice, as pears to nave str contour lated an the. act, ants jeparument would be deprived substantiaily of theit seryics, | earnestly recommend the restoration of these officers to their former positions in the ‘Treas- wy. OFFICIAL BXAMINATIONS. The examinations of persons designated for boy nie service aud for prowrotion in tie ‘treasury Department has been continued with beneficial m its requirements than at the date of my lat ‘annual repori!, and means will be taken to extend the.ayetem, With such modifications as the ditter- ence of dutics may suggest, but with equal eM. ciency, if possible, to the eprincipal custom houses Snd to otiier branches of the public service under the control of this department. THE NATIONAL LOAN AND THE SYNDICATE. On the 25th of February last public notice was given that on the 6th of the loilowing Marca books Wuuld be opened in this country and Europe jor scriptions to the national loan under the act approved July 14, 1870, and the conditions on which the subscriptions would be received were at30 made known, All the national vauks and a large Rumber of bankers, bota in this counwy and in Europe, were authorized to receive subscriptions, The lrst pre‘ereuce was given to subscribers to the ive per cent boads, withiu the limit of two hundred mithon dodars, On the dat of August the subserip- hous amounted to,$65,775,500, calefy hy the national banks. Under date of July 14, 1871, a despatch was received trom Hon, Wm. A. Richardson, Assistant Secretary of the Treasury, then 1 London, stating that certain bankers 10 Europe proposed to take the Temainder of the $20,000,000 of five per cent bonds upon certain conditions. This proposition Was considered and modified, and early in August wu agreement was made with Jay Cooke & Co., bankers in Europe und in the United States. By tue terms of the sercement, the parties represented by Messrs. Jay Cooke & Co, had me right to subscribe for the remainaer of the $20),000,000 of aid bonds by giving notice thereof at anv time pre- vious to tue ist OL Avril next, by subscribing for $10,.00,000 at once, and for an average uf at least 34,000,900 ol Londs per month, during the interven- Ing Uing, subject to Lhe right of the national banks to subscribe for $50,U00,0v0 Within sixty days Irom the 2oth day of Angust, It war also agreed that the subscriptions should all be made through the na- tonal banks, and certificates of deposit therefor bsued by suid Lanks to the Secretary of the ‘Irca- sury; bonds to be lodged with tho Treasurer of the ed States for the amount of (ue deposit. BY @ printed circular, Issued on ihe 101h of Augnst, AST}, 1 Was announced that national banks Making or Peo A eee payabie in cola would be desiguated by the Secretary of the Treasary as de- postiories of public money ou the usual condition of placing Iu the hands of the ‘Ireaaurer of the United ‘btates bonds Of tbe United States for the security of éuch deposits, and what at the end of cach month notice would ve given of the reaeiapaon of an amount of bonds equal to Amount of subscriptions in coin tor the preceding month, tuterest to cease in ninevy Mays irom the date of such notes, 16 waa also sated in the circular that as the bonds called sbould Mature the deposits would be drawn from the sey- 1 banks proportionally, It was further it the subscribers to the loan should ph fe commissions whatever i gbt remain of the balf of one per cent allowed by aw ore two hundred fo printing, adv: ring, r aelivel ce lor engraving, el very al all otuer expenses of tue same. Under this agree- ment the Dooks were cpenes in this country and in - Europe, and the last of August subscriptions were obtained for the entire amount offered. On the 1st of September public hohe was given that certain five-tweaty to the amount of $100,000, of the issue of 1! specified by num- der a8 dearly as Was practicable, ‘scoording wr ine provisions of the act of July 14, 1810, would be paid bn the 1st of December, and that the tutercst would vease op that date. Of the bonds fo called more than eighty ealons, of dollars are now im {ne possession of the de- Pan inculn and the remainder have ‘been received r deposited in exchange for the five per cent Ronde Previous to Sepvewmber five per cent bonds the amount of $62,139,550 had been issued and nt made therefor. ‘ibe work of deliv bate Wg tht for at that date is now guing oo, and wi ch circumstances as to leave no doubt that ine fe wliole busiuess Will be concluded in Coat! pba tte of time. By the act estabishing tho onal bau aystem the Secretary of tne ire reasury boy autora 1o make = dg ries of any public momey, except receipts cune toms, aud the act authorizing ‘he refunding of the hational debt directed the Secretary of the Treasury to give three months’ notice of the pay- meat of any Douds which tn such notice might be apecified ana called jor payment, In the same act it Was provided that the money received for the new bonds should be used only in payment of bonds outeranaing mown as five-tweniy bonds. The ate pi! the idea that tue holders of fvetwenty bonds “Should. receive three months’ in- terest upon their bonds alter notice shouid be given by the goverumeut, as Luis notice could be given sulely upon subscriptions already made or secured, ‘Tue general neccssary result, even in case the money were paid into and held Treasury ol the United Staies, would be joss of Mierest tor three months, Un the lat of August iast tue demand for the new bonds hud nearly ceased, but by the agreement referred to the necessary loss to We government in~ eadent to the reiunding roe the public debt was made the moans of securing subscripuions to the amount Of about ove hundred and thirty millions of dollars. The vanks, or those represented by tbe banka, de- rived an advantage in the use of the dmount of their snuscription jor three months, but this without other Joss to the government tan what was incl- @ontto we li gg ol the loan under the law, Tur iutormed by Judge Kickardson, and such 8 iny Own opinion, that tio most serious obstable 1a ‘the way o: Segotiating the four and jour and @ hat per cent bonds tn Burupe is the INAPBQUACY OF THE COMMISSIONS ALLOWED, When the circular ot the 28tn February last was Jasued one or two leading European bankers de- clined to act a8 agents, and | am persuaded that others Who accepted tue agency failed to give that attention to the busimess Witich Would bave been be- stowed upon it nad Ue commissions corresponded more neatly to those usually received by tuem tor the regulation of publicluaua, The credit o| the coun- try 1s fully estabusned dnevery Quancial centre in Europe, ana the bonds of the United ¢ taeis can be ne- gotiated wt their market vatue in larger number ‘of cities than the bunas of any other country tu the world, Under these cucumstances I think it my duty to advise gach an allowance for couimissions upon the four sud four aud a ball per cent bonds a8 will secare the [pagottation OL thent with the least possibly dela needs no analysis of the subject to show that me interests of the country will bo greatly promoted by the Proceeding, even thor ‘the comunasions shonid seem to be unnecessarily ec. Latso tecommend that cet sias A be given 6 payment of tnterest in London. This can be one elu wuout the least cost or Tusk to the govern- & = ment, COMMEROR—A PLEA FOR SUBSIDIES. Returns for the discal years 1370-171 bh that the ocean commerce of the | Magi States Is passin; rapidly into the hands of foreign merchancs aw shipbutiders, In tue year 186) neariy seventy-one per cout of the foreign commerce Of the countr: was on American ships, in 1864 it ha {alien to forty-six por cent, im 1868 to forty. four por cent, and in 1871 it w reported ailess than thirty-eight per cent ‘The loss of the amipping of the * States is due, chiefly, to two causes—first, the truction of American vessels by revel cruisers during (he War; aud, secondly, the subsunutan of 1101, steamships "tor the transports. uon of felt and passengers .apon thy Pisce of swing vesHeis aud steamships vullt of wood, When the war opened English wullders of steam- #uip? fad acquired considerable proticiency, aud stuce that period tne art has been eatried to Mgher Poriection n Geeat Hritaia than in any ather part of ‘Ghe World. It ts stated that the re, of Bri ee and knowledge the’ business by Britith mechanics give an ad ¥ale tage over = American = ahipbutiders | equnl at feast tO ten wer cont upon tue cows of construc. on. They porsess addivonal advantages In Wie cost Of labor, thy cost of tron, coal and other mate. nals, and in the rate of nterost upon the capital employed, equal ail to wbout twenty per cont more, 80 (hat the dy erence ip favor of British suIp Ouilders 18 at jeast Wiirty per cent, In consideriug she means for the fai gt of our Ocean com- merce W0 lacts musighe acceptod—first, tat It nseless 40 atternpt they revit it With wooden ships; and, secondly, that tro! ips moved by salle cane not compete with Iron sips propelled by pigs has only practical ‘quest for consideration se3—Can the conatracson a {rep sicamshipa Sblishod In this country, and, if so, by what means? GMM TRANG-OCRA¥ COMMRRCB OF THA UNIPRD STATE! Would empiay BOUL 6,000,000 tons of seIpping Hf " NEW YORK’ HERALD, TUESDAY, each vessel made but one round voyage ina year. Th exports and imports has already eae ees nearly eleven Pnunared millions: the present deca:le 1s will ex- milions of Soane bended given, reuders ‘it certain a ameicat action on the part ent the entire foreign trade of governm: will s00n ito the hands or oor rival rhe monopoly of the trade be- tween the United States and kurope vy foreign fom aged and sai) ie de carries with it the mo- <r ‘shipba! for the eutire world; and ag @ consequence the at antic trade. the trade oi the a and hog geas adjacent thereto will oe carrica iit steamers, An alteration of ihe fa, by wich foreign built vessels may be admitted to American registry, Wail furnish no adequate re- Het. On ‘the cuntrary the cbange would sumuiate siipbullling ia England. The prospect of estab- liar Ing 1b on thia continent Would diuunish tn pro- penton to the Bros rity of the business in tao shipyards of our r' Threw of tne facts of our extensive coasts on the Atlantic and Pacific Oceans and our positon with Telerence to Europe and Asia, the country ought not $9 fr satisiied with any policy which does nut look 10 ESTABLISHMENT AND CONTINUANCE OF SHIPBUILD- ING IN ‘THR UNITED KATES, the encouragement of our own scaincn and mer. chants and the control of so innch, at least, of the commerce of the world as 18 desired for the export ot our own produces. ‘The importation of articies Tequirea for domestic ithe the removal of duties upon foreign articles used’ tn the construc on of iron steamsbipa, OF the allowance of a draw- back me oaal to the amount of duties paid, will not, the existing cop poadition Of tihng, secure tho, re> Jo boy orice of the business; but were it other. wise the removal of dutics or the allowance of Srawoaieg Taises practical questions of great dim- cal cuity ee, oe Lien peg by an indirect process kel en ove unnecessarily expen- otveral of ite existing lines of Europea: a the ex! mn steamers were established by the Be of government subsidies, atoms Lan rps Ast y the same means, and It Unreasonable to expect that our merchants and shupbunders cap be pat compete with this formidable combination, vuless they are supported by the power of their own government. GBANTING OF SUBSIDIuS. After careial: consideration of the whole subject I om prepared to Lapin Lope of a bt caren feeling to persons w! loy in lore! trade American bulit first class iron pee ig, not less than two thousand tons burden each an an- Dual payment for the period of five years of tne sum of thirteen dollars per ton. The subsidy should be proportionately less to versels of lower classifica- tion, in making this recommendation I do not as sume that there Fa no other Uiginethe' method of restoring our commerce, but 1 preacnt it as the ietnod which appears to me to be the most efficient aod economical. Connected with this pian it be wise to consiler whether the snips may not be so constructed as to be avatiable ior naval purposes and, ip case of war, suvject to the rigut o1 tl Unie tates to take them upon payment of their al praised’ vane, A similar suggestion was made y the Secretary of the Navy in his re- port for the year 1869, They should also be required to carry the maiis on moderate terms or in consideration of the subsidy. The use of sailing vessels and steamers built of wood may be con- tinued successiully in the cuasting trade, the trade with the British possessions and upon the rivers and lakes of the country, but any effort to regain oar former position upon the ocean by their ageucy must end disastrously. lL entertaim (he opition that the policy suggested will be effectua!, and that ina bare dae oh shore period our mechanics and artisans will oo quire equal skill with those of England, aud that we shall. not only have the ald of the best machinery now in use cisewhere, Dut that important Iinprovaments will be made cal- culated to place the country in a position of supe- Tiority. We shall also be abic to test | ractically the Quality of American tron, Whict for thy purpose of shipbuilding is represented as better than that used im Great Britain, If it should appear, as 18 claimed, at American iron 18 about ten per cent betier tnan the iron used in England, an advantage will be se- cured not only in the aimmished cost of the vessels, but also Jn the increased tonnage capacity of Ameri- can ships of equal dimensions over those constructed with inferior materials, Accepting a8 @ truth estabtished by experience that the ocean commerce of tue world 1s to pe car. Tied on in iron steamships, we must consider and decide wheter the United States snail disappear from the list of martume nations, or whesher, by @ determined and practical eifort, we can regain the position which we omnes Preylous to the late re- bellion. Gk 8, BOUTWELL, Secretary of the Treasury. Hon. James G, BLAINE, Speaker of the louse of Representatives. THE CURRENCY. | Annual Report of Comptroller Hulburd. Operations of the Bureau for 1871. The Comptroller of the Currency, under date of November 10, sapmits his report for the year ending September 30, 1871. The following abstract gives the important features of the document — NEW NATIONAL BANKS, Bince my last annual report 165 national banks have been organized, making the total number to October 1 1,586, Of this pumber ten banks, with an aggregate capital of 81,950,000, were organized by the sarrender and transfer of eireuiating notes for that purpose by existing national banks, and did not Increase the aggregate of bank circulation, One hundred and forty-6ve banks have been organized during the year under the act approved Juiy 12, 1870, providing for the issue of $64,000,000 of additional bank circulation. The ag- gregate capital of these banks mamed {s $15,996,000, The total amount of currency issued under the act of July 12, 1870, to October 1, 1871, is $22,838,990. some $20,000,000 of which has been furnished to new banks, and the remainder to existing banks which nad not received their full quota, or which bad fucreased their capital to meet the growing de- mands of business. The condition of the Southern States since the passage of the act has Ween such as to preclude the possibility of theirtaxing any considerable portion of the Bireutation provided, aa contenant ine alaber of banks. or ¢ Bouth is small. Thi: ud opt the national banking erste severally, od while but two new banks have been organized t fines Gf the old bauts have reorganised an tational banks; fo ander that several others are contemplating Je in the way of such changes mount of elreuiation State very much larger capital, and could advantageousty emy a much lat ‘Cirenlation. The propriety car of removi Feauiotion iD n certain, catee | is Feapecttully au report but x has be hed on agold bie the First National ‘Sota Bank ot rn Francisco—with capital of 1,081,000, Tt 1s presumed that the success of this fasuttuuion is not 60 flattering as fo tnuee the oemata. tion of others of amllar character, | ough, in ‘of the Petbanics amd ooo ‘opposition which fy meets, it bolds ite own ‘and ts gradually wrianing ite Mray into to publie ‘confidence, The ance with which the wate Sy ates adhere to a gold enr- wey is quite notavle. Whether ft is equally praiseworthy, is another thing, Itis not clear tlat those States derive an Substansal beriest trom “the ade they have pursued, and it is inning to be manifest that the Unite States are not at Beueied by it, Tne substitution of a paper curreney in California aud the other gold-producing tee for their present bara money would probably set fred (or tne nse of the government and the whole country some thirty or forty miilious of gold, and at the same time de a a, commanttios with a more economical, active a..d accor dating circulating medium. “T recommend that Provision be be mado for the establishment of national bans fornia od bd other Tage 6 States upon a ft re gndet ia, and ieee eee vancing insiivuilone af present doing bast. ally w' er bau! Des In hove States. SPROIR PAYMENTS, ‘Tho time when, and the means by which, specie paymenta may be resumed bawe for some years been the sunject of ‘muoh anxious consideration and of earnest public discussion The problem 18 one of general and pervading {nteroat, closbly ‘all questi en connected with the abi weitare: and, Hike has Youn Wilters. whe he . al variety arog of thin and ki exceptions, agree of cle ' naton spe pay- mente there hag been a very considerabe increase paper money , tere be. corresponding ypooke pay mente cai can be safely resumes. At grunting the ing "the poner currency to be redundant, or in excess of mands of trade, the exceas must be retired in order po bring te curoney hip to & apecie standard. This re- dandaney haa been attri ‘currency 0 i States by a majority of those who so have rica ed Dobos epee the y year and ine re rescribod traction,” So prevalent van te View oftne cate at one eo Mba im 180, Congress, in obecience to what waa re- fed Correct prineiole. of political eco. , provided by law for # naual wi witharawal an: cap- coraion 19 00,000 month ; to pro fatter part Of thy year 1867, when the process of contraction was was com Just e's time, alo, commenced a stringency in y mark in severity as coutract To the people theairincency teamed io ect so hg ie nis vote gonspired to’ aid te produey however, were ta p of the money i ions of currency in commnued <ralnabion at the Fate of {00% millions per, month there efter. This op ‘all the force of conviction in the pable mind cad found Ne ie Pa expression in an act of Congress, whtch becat Feoruary, 4808, prohibit. Ing any further reductiou of ‘tae currency, aid so the matter no: nis, If there ts @ superabundance of currency, which must be retired before a.apecie basis can be bs Feeches, the firet atep towarda 9) ie must the act of February, 1968. mument mi Ton per mit or sanction ¢ guch Roaches’ it will be because iption at ibe expense.o: con- ie is Ta tbe ay LM Spesls paymertie, tb £6- mana claged by the people. In airect nor ate gowiamn ihe at al bosards, one ye regard to 4 of ate tt ieee tr of pape? on one att i meret beet Si gee Cnier forme a part con- cs thaw & name, aatisfacca are nee, \d conddence y dangerous and iniactieroug when ‘e “deranred = sad dieru DECEMBER 5, 187].—TRIPL® SHEET. THE POSTAL SERVICE Anovual Report of Postmaster General Creswell, i ander contract of etx cents an oun. ‘oo or matter as a cy opmpensation for ine i Proposition for the Adoption of Postal Telegraphs, Postal Savings Banks and shone Cards, i to eomlcanatbly tripe on the Brest promote tusir edicieacy for inewed the recommendation foran Inernane. ‘of mail service to semi- Francisco Lye an and cream at its last session, by currency, urmishing ‘the conditions most (avornle to time of real need ity Stecmship Subsidies Recommended in the In- terests ef Aimricam Coumeres. Soka a Brn—-The orf nary revenues of tnie department for the fical year ended June W, 161), were $ 0.0.7,00, and the en. penditures of si) Kinds 24,359,004 Por the year ending June 30, 1879, the oriinary revenues (not Including the amount of money order (un ie dry onit-4 ae postal receipts for couventenos @ transior) were of 570877, and the em mount of money onter funda were Ree, =6The revenes fof the year TTL over the year S80 woe G70", oor 415 ter ease of expenditures #1641 208, oF 445 per cept, show. Ing @ Get imerease fo revenue of #116.401, The ineroase in reve ue tor the year IT] over the year 166) was 92,2/2,86,, or 16.72 per gent, and the increase of expenditures for ‘18i1 Cver 1969 was #1,262,072, or 5.41 per cent Tne increase Yo revenue for 18.1, compared with 17, was lens thas the increase for 1870, compared with 186), by 27/002, a adthe Inerense cf expeuditures for TfT1, compared with IeM, was greater than (he incense for 1470, compared with 188%, by Soa, be way ot ‘vet in every arid a ad the ew sa Cs version ti ema poly a) camarioe va. o09 spon vente orate fou Post ‘solvency is of (ar creator ualty b.ap convertivitty, and the ae and ificlogs taco eres of far more va'ue in the the instant comimasd of gobi great element of moder progress, subjected he word, The nroepe ta due to * tion from Congress, rv entered into contract (or government of New nat ty guited hs ‘roadie woerate suibalay, 1a gitabllaing 8, dirget staameniDs with the Un tat States. ry pees placed upon ‘Zealaud and Ausira ow carrying our mais isco, under the meat, wita the expeo- fis Hines awe aadle service will be gr Wo the Cited states o pid steam communi- pri tue countries and isi- ‘cae attention to the impor yee ean sees tne years past ceased, a4 a nation, to Kons fritn Waomnoron, 2FF é Weats'tvom Gam Fenner if pa ; penditares (put Ine’ uding | Tetransferred) er ena years. ve had @ currer i 1 excinsivel avehad a onrrorcy tage excinelysiy up pelapelicglialaig bund bows, hal or ractical srae aubsliy ports, committees, aud by Af, in aadition te the ordinary revenues, the department be credited wit 870,00 appropriated for transportation of free matter, and the amounia drawn and expended for sab- sidies to steamship lines. it will appear that the deacteney: | Treasury for the year IS71 ie 16 for the year 1870, : ocaau shoa.a mercenilia marine. ‘Ths subject a one oe paramount to the material interests of the jong. pret profi Sanita to thit proposition relieves ths ban Ja i faces Lap posesisy. and the bardea of adapt iteolt' to this beats paleicn naan NOT hae t cateerock eaoectae aad w ger vee and deluai Mt ‘THY HERALD'S THRORY OF SPROTE PAYMENTS, Importance cow —— 8 shoud recetve the must tuorouzh and carefal ane, this connection, to state a thab, resent situation $2,928,089, again: 62,814, ‘The accompanying rept of the Au ittor fully sete forth the details of the financial operations of the department :— The estimated expecditures for ibe year ending rita, 3 18 huea, betieaat: at tea par’ vet crease Standing aprropriations for nothing. “Trai. ae line of Ameriene iron so ssencashl phia and lavetpaeh, S owns one eas! (| ton {the American ‘teamahip Company, of aicrlals exclusively of American an and. commeral terest recover from the effects of the war, hall 2 will the, natural n_and weaith, the revival of enterprise, llittes of trade and the ex create a legitimate uso for the whole amount of .* Just how Jong this will take tas bly isnot susceptible of demon- ‘An adcitional article so the posta! convention between the gor. oy spapulato increased fac: at Wasnington, Leaving a defictency ot... The foregoing estimates « apectal appropriations ta the nature of sul aides: For mail stenmship serrice beiweew San Francisoa and Japan and Chi currency now outatandins pot imctwte the following fo, tort, ve a not been stated, and stration; but the idee to popular favor msatfording a wth the German postal adn Live Lat Of October, ze (or prepa. ietters between tue Gaited closed lab: ormend vadual transition to ts without any of the inoonvent ences and hard- a sph borer in the public mind with contraction. The fuo- damental idea beret 3 sj theory te that necessary to growth exlat Pros} par Surah: that lator m ried {nvo aneration © tng ihe portace ot io seven ovnia por slope rats, prepaid lewera by the direct routes via Krem, and Hamburg reapectisely, trom soven lo ax ceats per aing ated with the, repubia |, surther rejue- For Uke serviee: buwses ‘the Vii * Mates Te presupposes that the “tale, industry and enterprise or. haye a bountiful reward; thet ‘hd communtiies may :row rich and. Increase in ubstance, notwithrtanding a rnperabundant, Ir- redcemabie, depreshited curreney. " rate, th f Vostal conventions ere Wan unespenie at th soa oh if thia_aesumption ty ly necessary to iook forward to the tine when natura ‘growth shall absorb the surplus curreney, and a vermenn shall come in the course of nature, reciprocal ecchange of © rrespondence Amount appropriaved for de aida ai Feiuecd rates ‘teen “ot “a Aner a the’ Vaet’ fiscal uunexpende:! at the iv fur payments on Det the conclusion of postal ‘ame jorating the exchange of correspondence and reduc ng Fatos.o( postage telwont the Uuiied States und excl of those have also aub {ited to the Russicn government, uleer at Wee — 1 regress Wetet Berens f taro mindyarns that at no distant day the aa to make it "probable ry will actually need all now fo clrenfiation, joetroying the force of the usual bit ments in favor of early mesan tion. as i syould eatabiis! i that specic [hemi are not It the assumption 1 not correct Mie whole proposition fats, for without growth and fuerrase f ciirrency would forever remaln would go far towar rh iar'c posts) ecareee oF AD exchange of correspon i. ngland und Ger. fs to the growth and ‘Sioerd malls, vie moderated pomage ca inges, tions hare been renewed for a Posts eonvention out 1 rogret to staie that Were Ws lie prospect APPOINTMENTS. of the appointment odiee shows the follow. Leaving in the Troasnry unexpended the sum of. $6,700) Against which there ars chargeable sundry un+ ed as foilows:— over recelpis dur- in resources and trade, in excess, Granting, however, that th trv ia likely to attain such dimens.o1 present volume eFyarrency. for its accomm anotl f the cane to be considered, ist reached at which the curren suppo-ition is that it will rapidly appreciate to par with gol, hat, iil then reaume its functions as cur: When the point ceases to be redundant the er of post offees established during the year. Hy um cer cbseuntinue: recognized, but not yet Teported.. Mail neryioe still usrecognized. m this takes place one of two thinze is ur: There must be re likely ‘ac very tldeeabie inflation, in consequence of the addition of gold cy there must be a reduction in In other words, if there shall 6 —— Hae and silver to the ‘currenc} dhe volume of paper money. ot be Inatlon there must be contraction bu contraction en cause; contraction brought ‘about by natural and "self-acting causes, not by act nor by the exercise of arbitrary power in any be a lexitimate, result, and. it should the same objections that Lesring, alter, settlement of all lixbilities to Inne nee of cefieieney appropria- ‘The vumber of adhesive during the year was 43413517 Stamped envelores, plain, 4346 Stamped envelopes, “request,"? eur ep iting. Newspaper wrappers; 6,609,000, representing, ‘The whole number of stamp. envelopes and news. ona) Dia, of th » The number of letters, domes the dead letter, olties 0 dering ye rear, WaA75 Toreige jot take place, ‘woud not be liable are urged against contraction saad ATER FESUMPTION-—WHAT? Bus whetber the ootn shall. be added to the pay swell the voume of currency and Proportion of the, paper, bal coin comes: PTorh to take fi & wise administration of toe ‘nance, Pay gradually and surely, thor ‘an equality in value, racticabiiity of resum: a5 ety ‘a 8 Loire pat ‘The increase in tbe jee of stamps, stamped envelopes and newspaper wrappers is best exhibited by the following en pasalbiey {8 conellering the sSontisins daha Tesumptioe, 16 ciaogaieh Deyweenl eirce: pe leposits, making the former payable in apecic, wile the fatter snot be parabie in Kia mck of and wr attendant on a return to Temoved. jon, to 25 cae Fecal Year| Fiscal Year| ited tor ———_ endid Increase, |Increane, Description. | wal 7 iti u ject, is not ee avenan 813,076,768) $14,630,715 receive Five discal gots ric money de} ited, nthe banke neh nuch of ‘the ne difenty of of maxing de bans a iti “deposits fi reo to to plague B16 46,78 $17,639,561 | $1,172,760) CONTRACTS—TRANSPORTA TION BTATIBTIOB. There were inthe service of the Department on the 80th June, 1871, 7,288 contractors for the transportation of the or sng 7 ‘money. onl welt are leant able to =m tbe 1k would be practicable to place the aye yy oe before it would be maa to place the en- bilities of the banks on Footing, Tt in be, made for thirty tome Of mail routes m operation there were £,951, aggregating fn length (exclusive of special routes) 238,369 miles, in an- ne transportation 107,672,794 miles and in annual cost 4. -Adding the ‘compensation of allway Host Oilice Sita ectatts atk barbies. oe ' aaa 10" 81,875,638, the milions of pank notes; cle payments woul in dollars deposits, renders ihe finances of | tho Unaeriie the financial’ management of gh and ra £ diem, ork “cane aintain specie payments according er own standard, bemaintaine! successfully eisewbere for any lengt! mur under Ge rma nenee si aka, it isa matter of vital im} scrutinize earetuliy; not only the gt ino mat cal vtec ent of disaster pe herbal for Lag Aad servic fiaitroa™ rontes—Length sree tions 55687,.088 ‘mailee; antual "cos eamboat routes—Length ei mik nonal transpor- tation, ae failost eanuel cost, Bi ead about 16.53 wired to be con- —length, 163,191 } annual cost, pal transports, ‘Tote statement shows an increase of orders issued, of $8. amount of orders paid of -two Teinittances, faa having been lost in tranamisaion iy 14,493 was recovered babs Ope ds upon wolen ran 1g the Ht tive years nyequarter of ace to the azgregale amount of ie. ‘Other routes, on which the mails are wri “edterliy, certataty and seaurt lea; annual trans} 5.071 478-—-about 10, inere wan un lacreace over. the ceding ear in le routes of 7127 miles, in annual transportatio POST ROUTR MAPA, The work on the preparation and pablication of the series ofpostronts mapeot the Uni during the past year under the ay of the department. Six maps \trom Muloe to Wiscotain, I renew my previous recommendation that an effort ba ‘made to secure some more precise and correct 4) survey than now exiets in some of the Midd.e and FINES AND REDUCTIONS. imposed upon contractors, and dedino- failures and other ‘gs. 86, and the amount Fency panic, ‘That ti wanting in the disturbances which hve Ironey market frou time to tmovand yet ft ia an, adianted fact that we have more than once been upon th f anic wnich threatened the most disastrovs consequences, than three occasions duri if the New Yor! mn baving specie, according to t Interpretation of | apecie been of pend from inability cating Hotes, bat, their mait a year, of which th through the efforts of suec! allo furnished ealint hey Temiited the several amounts states by for remittances to the amouut of Sas smountiog (0 $489 was Unsellled an} pending at the jo pumber of orders paid—viz., 2,121,064 gi 8, wad aime io a Rave been te creslit of postmaatere w who bad, thom ered ciate was disallowed ; ere have been not less 2d States has been continued | ose of the year. ata time when 7 had prevailed through try, contd have Geen mainiainedat every other point as far as the'currency was concerned. ‘To the people te extablishment of the currency on », thing “It makes but litte aitrerence positors in the large cities are entit! deposits made in currency. payment of 80, amounting nPrOpery OF trandolent i) ee gg of the money order syetem, on the rotite accruing irom ws opera f. — v to July 1, 1864. ‘ising fifteen aheeus he etbracig the nortbers It tions nave be ot as follows, Proceeds from November Eroceods uring the tacal year } ia i@ the one fm. recelve This is nota, vital polut. Ta lic estimation, an it may safely be left to private oon- et, a8 many other equally important questions are, ‘The then, conceiing the desirabiilty of resumin, rts in that direction be retarde ied by the undertaking of w few banks, few in mum- powerful by virtue of their central position, Scporttaluron the vame basie? were sacrificed or any valuable princi abandonment of this dogma there might b reason faking the risk: but if depoaite could be mate payable i in current tunda, lawful money or Case might berihe. depostior ‘could have.) compinint, while one great obsta bg in of aspect Proceeds during the tscal y inquiry recurs, Proveeds during the fiseal year 87 vi yy mente, must all efforts deunquencies, for the last yea remitted during the — perio ‘MROUGHM MAILA, ‘of the Becond Assistant Post- interesting details relative to, the in may’ inst repe of additional je jaa. mm tO the stations or ities 1) respectfully reneweJ, @ amount In currency recewed by n the exchange otica avecs in Switzerland was GO8,4-9, re pad in the United States on account of zeriand was $1!,003, showing an in- crease over the corresponding transactions of last year of $16,299 or 7345 per e=nt m the tesues and w dectense of aan ‘or 70.31 per cent 0 the If any substantial interest lo violated by the me master General Boston, Cincinnat cago ‘Sada Francisco from Washingion, wo New. Orleans and back; from ‘New York to New" Orteang and pack, by diferent d New York te Memphis and back, by dit- tes. Pd ppt’ to San Francisco and back the gratifying he last annual report has beea iuliy cle to, the resumption J¢ payments would be remove ‘the solution of. these qnestions Wes one of te’ most fm- portant ant protiems of the day + but, in view of the various the. ries advanced, itseems probable that the ome only with time, ‘The doctrine of contraction Le ® means hed end for Pn purpose of hastening a return to specte pay emned by the people, Ithas been Mrled vane rejected be considered ae abandoned, wait until the business of the country shall expand to such uire the whois volnme of paper mo- involves no immediate action, hile more fully than aay oer than any scheme which requirce lative interference. It is also very evident that King, heretofore considered, to ihe, country On 8 specte leponita i ‘an unt aud m' Peat ana fuise atiorapt, which would teed i failures in the future as in tho It mente are to be resumed, lot the ef The amount o! o1 remittances fyom Sw cisco from New York, 689 were convey ed 10 DAILY MAIL TO ee report nerottat re a progress for the establish:oent of an international stem of portal money orders between the United States and the Unived Kingdom of Great Britain aod these negotiations, wich were conten by correspondence for a period of eighteen months, agre vent as to the provisions of #uc! re to cate a be eg omeer, to. Fe la comtrow T ‘Honey Order bystem was a Loudon for that Bi a tho An arrangement was made in Janui date the clizens of California with a without Vue ue inheraalsed e 0 socommo- ally a mall toend ce an extent as to ney Jp clrculaiton, the views of th BF thet west cf Pot Inent of aznculture might payment of premalame lor err ain ‘estabiioned standard of excelience. It te also sug- gested that the Secretary of the interior be anthortzed to ap Porat Inspectors, whon necessary, 10 Visit. the several tribes 2. ay ti A the Brovritora of the Mvanles narod’ pe Cintengo, Barlngion ‘and Q Railroads, t! Lge ae; vie! yn toe tl ble to the depart option of | performing it on “i ope of jer Buverinendent ce the eile “ths Senpehehen ington issourk and ine Chieags and Noriewestern, via aciinton, Town oF Island ‘Rock’ Iai Ee ‘has been performed in » mat factory to the Me er and to the eilizens ATL DEPBEDATIONB, of com; iaints of missin 2.007 were registered and 3 “rate hod currency to. tho idk "OF regimerel leters, 663. were their destination, and only 2:3 iy lost, The remaining cases eiite for iivestigath laws 123 persous, bs convict pon the ‘and ail other eurreacy tebia tobe edjusved by private contract, As the frst ste in ‘the aasociated ks in all erties act required to. settle balancer, throug their clear! ey ju enrrent ‘ands. The @acrediing of Matonal bank cur: Which J¢ the consequence, of thelr prosent reg. te unwise and injurious, and creates Waininction betwee bank ‘curre and which ought which was sized aon June roved and veigned fn Washington Ju) fn ee of ie nder rene dato overs era pan tween the two countrie From that date up to Qetober 35, 0 ia orders tprniteel orm thie See in was $33,051, and of orders ‘a the opposite direction been received 1.4 rr ren. from tears Dumniual ammount of a have been reported are in the handa of special For viointion of the postal rested, of whom fifty-one have been fou different degrees of puni hands ot tne Departme RAILWAY PORT OFTTORS, ‘There has been an increase of eight lines and 2,956 miles of at ocr service. iss number of Hines in operation 1, was 43, erence in the Aggregate over 11,203 miles of ‘railroad and steamboat rom ‘Arrangements have recentlp been compl continnous bine of railway Post GMices from Portland, 3 jatsre Central and the Earopean and can Raliways, | to Vanceborough, at the boundary line between New fruoswek and the nited ‘States. The authorities of vhe Nepal ds rs genre wil connect and contioue a siumiiar mey and lawful mone 04, ‘A communication baw! the Post Department of & desire to entor into hegottstiona “ior the 4 otal intercourse between the ver cap! may ira LY shoula seem desirable, United ‘as bank notes aro Issned, IL ed navonal tank, Witt m bora file stituvion tm any community. A del! ‘snyeatment of capital in banking & have had the sagacity, the enter prise ne pradence to make ther owa money, men w ho are te most reliable member of goclet \nvise, Ep id sentenced Grasse ites an ttt went ‘and the remainaer are in | Money order system, fato 1) it Justice to be dealt with ee 1 tnatra to proceed, after havin) the British office, to Kerlin, ent of Geripany aa to’ ih day of June, erman Post Departmen Nw lawars complete, retibeation Dy the’ ‘auth 7 the vere of tie conrention the between the two countries ts to Misc eh TC ANnOOR, lace for the depostt of all whe ile Joted to estatiiah a ings which oterwiae. would be tinem hese into @ fund which becomes use poneres in stimulating trade and enterpri the national banks Feunies dur # 1n places previousiy without banking faciities ad oo litte Instrimentality 1m belping to be omen with every attuina.. ‘The Fal localities the current called out and utilize bank affords & of both countries Toney order busines menue 08 the Ist of The recent experience of paraenent fn cates tract Omer of tne Dew ° roomy oa muateral contracts, end that the laws Le man mall 4 as to make ita miniemen' jehabte hy fine aud myrisoament, f didding for @ mail services and re shall fallto make uae! service coscribod In his bia or clare It to be. a mindereanor, pun shatlo i Peraan to withdraw oF at lat Sopvioted for the opening ‘non to believe th: last ue tho strain tbat have paid out In their bane eu 10 thein, while ood large aime previously distributed among and neld in small amounts; and ea He jeu to the annual 1, aod which otherwise would ha ag 0 also been line of ratinrey pon ollces from Washtugton, D. Gr to Now Orlosam, La, an organization having been eifected this month (No- as far ea Chattanooga, Teno, And (bere remaine a poet vations of land amouating to s pret oy Tue lnnda enya From tuat point to ice will beestabilehed as sooa ae the negotiations ‘now pending can be ec @ 1th inal. @ line of railwe enaniined trom Milwaukes, Wise the parpose of securtn; queinbution of the mal in thi® they have Uppy of money required to the been drawn from the on jo St. Paul, Min. for ‘& more accurate and ‘expeditions for the States of Wisconsin aud KING RECOMMENDED, therefore do not hemtate to recommend that provision be made ‘oF tne organization of ational yanks, wherater ¥ be with each million of bank notes {i etiioce of feral tenders, 1g ‘wihdrawo, the tiroe wilt m the cireaiation, 10 bs #0 n than the funds for its redemption that ‘aynreciate in value, whe whe enbanced cost Tedempuion Will be a wholes free banking Is made practican:e ‘The total number oft pone Scohanged ed estou foreign countries was 20,295, (ior inaber: reported foe ie70: were sent from aad Eat wore feceived in ise Onied Staten. The number of lettern (sin ie with Kuropean countries was | 912,114 ov er the namber rey total postages on countries amounted to re) The total weight of with European countries, under pro’ conventions, was oh 28 % I furthermore recommend that to sha Postmaster General to, reject, or fetiitous bide, and, after @ requiar oF contractor shalt hare failed, 19, cote I tata contract, oF te fulfil his con- tract on the beet terme 2; eneck upon baut Hy gle rate ‘seiginpee otiaizabie from & not, for the pertor gouiract term, Tf i be ‘eesed 8 proviston requiring certised cheeks of any the bids, then I recommes yr drat tn gach ease be One! at five por cent 0 ar contest price, where said contract price TRE POOTAL TRLEORAPH fy by far the most tm; poy aaa now ‘erntee Hon Jn connection rrency will re pot And every hundred hoveaw dollars of bank votes ao ‘ero hare a tenuency to accelerate the resuinption of at the same time, it will make the ihrow ‘the responsinility bg a burd tbe coun cae erat i letters ache 130,286, be! nd that the amouut 8 of existing portal ight of the letter printed matter we ead neat when wal be sate and Wis and fnances of the esnranld Uke, to the Fepor ied natioval Deane and two the wor a ae aay} ceived from Eu ounds, and o Porhe weight o¢ leter cor Tespondence sent he waa tis,eot anda, and of letter stun mn Furase 1ie poun 9 coat of the Waited Bia lantio nervice for the year 1871 was aie b Ley the com of the same rervice durne the yi Toe act Eireuation eats 902,000, dy pledges “ u Waewngion a (9985, 444 080 Of govern- cone ccmneeegingate wi administrations, In weden, ¥ ‘urkay, Greece and prin Ay ‘Bained by’ insking the telera| rap! a Syter Mahle: ia Switarriaicd ‘Bonglons wane hone bega aire fverouahy ales ts have control has vincr ihe" government a‘ cated Tt remained. tor Great rian \o Soave ¢ i prae toa th, of the gle, sysion 08 compared with of private suckholders, afer 8 Prorasted* ‘and ea | mtet lavorious investign on Bist fe rnain act fo euable Hier i Minjenty' mate: quire, work and maintain Clectrie tele iy was followed on the 9th Augus., 1349, by ap Widing the money necessary to. purchase the in the several voiggraph compel dant. ap 6 a the wore of the » mal telegrap! ous difficulties were encountered by ore delay In passing the money bill and the inaanate Preparations to ac-ommodate the immense Inorease of Wasi hess which imme iiateiy followed t reduction of rates. These difficulties. howe vars were noon OVEToOMe, ANd, thaoke ‘ its trinmpbant The char-ea established in the beginning were unilorra whoatthe Unites wing wom, without regard to distances, atthe maxfinum permitted by law, that law Say, one shilling (twenty-four cents) for the frst twenty words of part ot twenty words, and three penoe (aix ceniny for each additional ive words oF part of ve words, exelasi® Of siznature ani ad "Home may Nesiiate to adopt this system im thie coumtry be cause of the creat extent 7 years agains all ame! tages have bern atthe same time the posal s has been maintained anc Improced. Aightly viewed tue extent of the conniry 4 a strong argument in favor of a postal te’esraph and the addl- tional facilities and uniform a, it wil aiford. tt m= only in countries of large extent that the valuo of instantaneons, or crearly iustart:aneous, communication can be appreciated, Who wat desires to convey or acquire any. tniormation would hesitate between se: tee.cam (rom Yor in seven minu twenty cents, and sending ven Gaya for three coats? lneye aum of money, will be roquined for the rue that a purchase of the present telegrapi Hnes ant rte Bances, Dut this bee duncuity delay: only maguives 1: for, admitiing the covernment must af some time te coihe tne exclusive propriétor of the telegraphs, ft is clear that every year will add to the amonnt of will have to pay. The companies now in existenze will ex- tend their operations and new companies will be organized The Post ntice Department Is now prepared to undertake the organization and manaxement of tie vie in connectiom ih its other duties, Indesd, J believe that the department Merit gan ald. materially. "th rauing. the money. needed for the purchase through Pest Of ce savings banks Congress will authorize their establishment, The security ot the government being the best that conld be ob- tained, many depositors would rivo it the preference over ry other, By fraying fo four per cent interest, at most, on ines Id be reastily accumulated and in- riko. ditection of the Treasury. Departinent in the ‘pabile ‘securities, ‘The ‘proceeds ot these Investment be used tu rolmburae the original purchase money and expenditures for couatriction and repairs, re the feasibility of this pian, I recur, to the history of the Hritiaa oflce,. Savings banks 1 connection with oftices were established tn Great Itritain on the 16th of tember, 1861, with a !mitation in the law creatiny: them that they should hot pay exceeding two and one-half per cent in- fteraat on deposits, The total amonnt in hand after ten years’ operation, fand for which the Britisn zoverniuent pays only 336 yer cont interest, is £15,463 145,600-—a muca larger sam etre nerecoura for the purchase and thorough repair Seal the telegraph ines in the United Seat ‘Convinced of the wistom of eatabishl: ngs pont! telegraph aud Port Onice svings banks inthis country, £ earnes |y Feooramend tne paskaro by Congress of, the laws, necessary thereror, Tn ma} ent thoxe hould provide a wel for the absolut Purchase of the ines and appurtenances of zraph companies now in operation as for the exclusiva Lauthority of the government, atter the several pur- hail be couclused, to conduct'wbe busincas of trans. mitting telecraphic mess2,.01 Again Frenew my recommendation for the repeal of the franking privilege. Its existence {s utterly incompatible with fn econsmical ad vigorons aduninigtration of postal affairs. The bill to revise, consoliate and amend the s:atutes re- lating to the Pont Gites Departuent.” known wa, the postal code, having failed in the lust Congress, bas tntroduced into the Senate, Much time and labor having been expended in perfecting 1 trust it may be Passed at tho approaching on with as litte delay as poasible, It contalus some new provi- 4ion8 of much finportance—among others, = an ity for the introduction of correrpondence cards, an fin; pavement (or which a-atrong. desire haa been manicested on the part of the puotic, pcignewing the aksuraices of my high regard, I have the onoF to 0G, your obedient servant i JOUN A. J. CRESWELL, Tax Present. Postumaster General. THR INTERIOR DEPARTHEN Annual Report of Secretary Defano. The Indians---The Peace Policy of the Government. Public Lands, Patents, Pensions, Geolo- gical Surveys and Railroads. ‘The anvusl report of the Secretary of the Juterior con» imencen with @ carefu! and complete review of OUM INDIAN AFFAIRS. ‘The Board of Commisstoners authorized by the law of Apri 16, 169, have exercised a wholesome thfluence in establish- tng the new humane aud peaceful policy Inaugurated by the government. The most noticeable eect of the new policy thus tar, says the Secretary, has been to suppress Indian ware and depredations, to unite tribes upon reservations de- signed for them by covernment authority, to Improve their education in letters, in the practice of sgricalture and other industries, im the reformation of prevailing vices, and the generally gratifying evidences of a degree of prozresa which offers good reason to hope for the gradual social elevation and christrantzation of the race. As encouragement to those who believe in the capacity of the Indian for civilizauon an examinat fon of the report of the Acting Commissioner will show that the varfons tribes have raised during the year agricultural products to the value of more than eight millions of dollars, not inoiuting the pro- ducts of tye Cherokees, from whom no report has been re- ceived, but whose products last year were vatued at over two and one-balf million dollars, an aggregate of about ten mil. Hons ot that there are Z16 schools among the Inalan tribes, with 313 teachers, and ap average attendance of 8,920 puptis. are’ worth of farm produce, It will also be scea ‘Though this peace policy has been generaily maintained and a belter understanding of the designs of the govera- ment toward them prevails among the Iodians, excepting few nomadic tribes in Arizona, New Mexico and on the westera borders of Texas, which ha reached by the inflvence of the new policy, outrages by those bance or tribes have beeu punished so promptly by the military authorities, under disposition to make peace {9 generally manifest, Some pro- gre t8 being made towards inducing the more troublesome of thoae tribes to accept and enter upoo reservations, and there is reasonable ground to hope that ft will eventually be accomplished. For this purpore it ts of importance that in. not yet been so fally infuence of which the opriations tor food, clothing and made by Congress. On the line of creased and liberal farming linplementa the North Pactic Railroad, im the Territory of Dakota, the Sioux bave also made some offensive demonstrations against the progress of that work, but thus far judictoas manage- ment as prevented serious outivrenk.. The hostile ieposition of that numer i tribe may requise skilfut Geatment ty avoid hostlistes in the futare, Tu order to produce insting good resnite from the new policy, 1 le eacgesied that 1 might be wait to estabiiah @ aye" term of compulsory edneation to such aa extent at least us to withhold aanufties from thove who refuse or neglect, to evan emesires of the educational faculties oor ni th ees im the this 1° pest culty farm above a rey prt eon: ences at satel invery g the, Bicky a the condit! tribes a 0 enforce unilor Dagement, av foyer refer emt oaleu! re okey foment. nlosloner"of fudion” AMatee le re. cous Popnistion now under the juriediction of the United States, acconting to the rs tained, 14 about Ji, This namber 1000 fee F400), mated Ioan fy rovurhout the & ont reliable data to e jon of Alaska, a! Jes sattered ‘of Ploriea, North Carolina, Indiana, ntalntog tribal relations. Raeinding 4 thronghont Ue States he scp of the nae dian population im 242,341, . 98% - 240 From thie veatement the ‘of good quailty, # oft Fatitne oud fie fo the Woot pat vor the eet ‘These reser. yemons are treation fuaranteeing In. iy egatzat the the imareston of Wuli® settiement. “The indian Jerritory, —. lying west of Missouri ant i ek Jal ota nie umes, naw Cane See = oa of he Bow seastered CONTINUFD on ¥IGRTH PAGE, i B j