The New York Herald Newspaper, December 3, 1873, Page 5

NEW YORK HERALD, WEDNESDAY, DECEMBER 2, 187 Por interest on Pacifico Railway bonds. —TRIPLE SHEET. 5 of many other institutions, the doubt as to the credit of | ar ee counterieited tocome extent. A plate hax been made for ple, comprehensive ana concise. st ts beteved that this | oa sabsidigry coin, which ‘4 intended for nome crrom Srme and inaivid 4 ued 19 be | the $10 nob, DUL as the proviso im this cluume requires’ | Fevision. an edition of whies wit be pocad at en conte. | Sation, ay re iy Cxlenued: Hod the Laglinnais’ etect inereor im | Banking aswolations to retmbures the Treasury for te | dale, wil inaterially aid cusiamaony other einen ia ike | tnonnection with thie eubjoct, it should be eteted distur rte the business of tle country, vould oat = Dyers Nite banks are inclined is eotes Rom woe shia thelr duties, Pett pony ve Lanier ig | come fe, avoided a curre:! c! i es fontone to have news of other de Y UANIZATION OF COBTOMG DIATRICTR. merican ve! P| e | rz ‘The eatmates received frau tho eoverat xecutive ce- iia ve the sivcutatvon alsoaly existing. bi how | Blinved trom ins old laws without eo-to themscives, | | T tmvite the attention ot Conese io the propriety of rex | their “owt ards thee app ications could cot we ana Ons are as fi WB Conti u el v bs slow oO e general banking law, Mi vuslols collecLon Ticks en U an eran want . act 3 anes pe amniaky 1s and cautivun process of gunn a better Kucwedse of |. Leecommend that the provine in the élause above cited | coast, 79 in number. 2 comity to friendly States who have no facilities Executive, be les and ing th ey <dingly, and by | be repealed or that banks be requirca te pay jor all new ‘The establishuient of many of these districts dates back | coinage and for commercial reasons, it 1 me: conducting business 8° Ar Deniay bral with baw intiation | notes lurnished them, whether printed trem wow or old | to ® period when. the comliviote denser eae oe | erase and {OF commencisl reasons I be recon portance, relative to the commerce of the country, were | other countries, when it can be done at our mint Annual Report of the Secres | sasiciar Foreign interes and more regard to real sowudness and inttinsic 08. plates. Phare’ cant te (age Sa hanks of | ) The cotled and mutilated condition. of the etroulating | entirely different trom those Geiting ates ea ere | Stuat countries, when it can be done at our he Ti ur Mulitary. allowing interest" cu ichastte pavathe oticimaga Is per: | notes of hauiona! banks sow in ase makes iva matter of | In soma, the expenses of coliceting the revenue exceed | — No coinaze hay been exceuced at the New Orleans Mint tary of the Treasury. Hace 3: huclous ‘und fraught with danger and embarrassment to | uecemity that something should be done to xedevn the | the amduntcallecten, end ac eontolitaton of such is | wince the year {S61 but the machinery, with Ine . . r . usine " a 5 ble. the ¢ le xceptions, is 8 ‘and reported eshte Fensions Bees Snir Te ee the end that ail {i nows which the people are obliged | Mt inust he remembered that the eifeciive atminmreation | good couditak cos Ghat eaeiae ct aha ey eRe, Deposita, payable on demand shouid be limited to that distant pertod, require a large supply of coin. surplus whic te Use As money § ay be clean and whole, Sev- | of the revenue system often requires the services of cus M individuals require over and above their | erat methods to secomp! this result have been care. | toms officers at points where iew or no di arecol- | mates for the amount required to place tle mint . Hane ous. 7 o1 “ " : . my hat f hich they expect | fully consiiered, but no plan seems to be teasidle without | lected. The judicious disposition of a torce for the pre. | dition for coining operations and for its rea Review of tho Financial Condition sais aac ine."Such deposits are cumparatively sapien | the acdve co-opsration of the Danks hemseives, aaaisted | Yeution of rmucgling ieindipensaly tothe corteeton et | the nese Seen eens eke Dee oe eee Taievest anPacthn Ballwaebas gveraze amount, and constitute a healihy basis for bank- | by such Congresstonal enactments as may de required | the revenue trom linvorts, especially where the extent of | hoped, will receive the Javorable cousideradon of of the Country. inking vaad. 7 Tog purposes within proper limits, Which prudent baak- | for that purcose, whien are earnestly recommended, coast affords opportunities for the clandestine introduc. | gress, . vi aeisacya eae iffivts NB,808 | ore Enger how to determine. " 3 nearing t the useal year ending Suse 0, 1873, the walic of iow ‘of duttable merchandise. would theraiore sugs Under the provisions of the Coinage act, Gepositors te. ‘ a ry ci 2 toyed as tempora ne Ke porte imto «the United St ich action as mn c © BI celve in stam ars frou) assay oftices wi ' a eh eR ‘Total seseeaes --$819,108,736 |» cstinenta Pine Interest attrasens warge amount of money O09, a arainst, $526,907 for the previous year. | districts amd a consequent reduction ol expen ny P y ene te ik with- | is not doug the identical bullion deposited by them, The book of estimates, now ready to be laid before Con- | to those cities where speculation is most active, at Bea vais shows an increase in the imports of mer- | out affecting the convenience of importers or tue'satety | are subjected to heavy discounts in conversing the ‘| nd a m gross, thoroughly prepared under the immediate super> | sons when as much profit thereon cannot be sec chandise admitted duty irce. in raw materiis and In | of the revenue, into comm or currency, ‘These interior assay ‘otees N oO I nfla tion. of the vision of Air. U. F, Conant, ehiet of the’ warrant division | elsewhere, With the first return ot ‘activity in legitimate | some articles of necessity, while ia some articles of lux- INTERNAL REVENUE. become much more useful to ihe mining interests if au . A, of the Secretary's oftice. whose watchtul care, industry | business these temporary inyestinents are called in, and | uy there was a reduction. ‘The following statement shows the increase and de- | thority were given to the vecretary of the Treasury tO and judgment have made ica work of great ‘accuracy, | jeopardize in their sudden withdrawal the whole busi- ‘The increase in tne importation of coffee wan $6,164,899 | creare trom each gencral source of internal revenne for | issue coin certiticates for the net value of such bara C arrency. Will prove to be of ihe utmost convenience to commit- | ness of the banks, both affecting the legitimate deposi- | and in tea $1, 9, in addition to ihe amounts in bond | the fiveul years ended June 30, 1872, aud June W, 1s73, ay MARINE HOSPITALS. . tees and members. tors on Lhe one hand by excitement and distrust, and on | July 1, 1872. h were withdrawn there: ik appears fom the report of the Cemmussioner ot Interval ‘The relief operations of the Marine Hospital the several tables which fort part of this report fare | the other creating a condition of things in which the | ing the year. Cotlee was so withdrawn tor consumption | Kevenue:~ Gtubraced at the close of the last fseal year 9 cu: Serre nish deiaiis of the accounts of the department, borrowers on cali are also unable to respond, The banks | to the value of $16,9.1,126, and twa to the vaue of Picwansa. Decrense, s, and showed an f 12 per cent, as com. On account ofthe al eee MATE ve, ofteeteg | Have borrowed their money of depositors on call. | They ble gad ‘There was un increase also the importa $2.005,555 pared with the year prec: nd nearly 37 per cent ; : 9) count of the alterations in the taritt laws, ave loaned it on call to speculators, who, use, copper and copper manufactures of $1,518,483; 3 ce the passage of the Recommendations Regarding the Natlonal | yy rryesee y hse Muang mea Me aril laws, eneeted | hey te the prices of : , - ee id under whicts ical and. have contrived to inflate the prices of the stocks or mor- | soda and salts, $1,719.41 \ tin, In plates, $181,222 hay i843 = | the service Is now. adini ct r= i cove and o:her articles to the tree hst, and the reduc- | chandise which have been the subject of their specula- | and sking, $i,4z7,7s4:\ tur’ skins, $i8:,i7) Lor cay adam + Le = | Real atentance was. furnished to 1sb29 a E Xports and Imports. tin of duties onoiher merchandise, as well ax by the | tions, The speculator wants it to earry the stocks ull he | $2,056,158; wood ahd manufactures there Banks and banker 57,197 he hospital at Chicago has been completed, and . removal oF a collsideravie amount of internal revenue | ean dispose of them without loss, ‘This he iy unable to do | earthenware, $749,140; manuiacinres of colton, $9Aks70. | RANks and Danke = Raralois | Bite Yas been selected tor the pavilion hospital author. 4 he fecedps Dave talten off for the year ending | in a stringent money market. Tue banks thelr deposit. | | There was t decrease in alc gods, 80,7082; preclous | 27icles ana: gecupatious’iormierly wr | Wea tb tho last seasiva of Congress to be erocted at San + 3. 1574, much below those of previous years as Was | ors and the borrowers all Want it at the same. time and, stones, $12,005; iruits, $71; 205; fancy “Koods, $478.57; | “Used put now exempt — 19.73,2% | Francisco. ‘The recommendations contained in. the ast ft wnicipate:, of course, a stringency is developed which spreads dis: | fine. linen, laces and other’ mauufeewures ot fax, pees Best nS | SBaual report ot my predecessor ay to hospitals at New: 7 York the of that year the recent severe financial | tress throughout the country. $1,054,115 5"a8 well asin some articles of # diferent class, Totals, 300,875 $22,056,965 | XOrk an Pikeeare are renewed, and Oyster Island ip A New Custem House for New York | and ccimerciat crisis has eduscd an udditional andun- | "ihe system, creates limiense amount of debts payable | such as barley. $440,320; opium and: extracts thereot, i tases 3094 suggested as an eligible site for that at Now York, expected diminution in the revenues during part of bep- | on demand, all of which tus suddenly and unexpectedly | $1238J9; leather and leather goods, $1,429,917; wool, it will. be seen that there has been an increase im the nstead ot Pome y, titerations and repairs to the hag Proposed. tesuber and ihe whole of Getober and ‘ovember, mature at the first shock of fimancial or commercial A05, 114. receipts for taxes onspirits, tobacco, termented Hauors | pitals at Detroit, Cleveland, Louisville pit Portland, tho . Butitisgratitying to find that, in this period of the | erbarrassment in the country, and at the very time ‘he gold value of the exports of merchandise from the | aud from peiaities, s a supervising surgeon proposes, for sanitary and other pd ae Sad Freatest commercial embarrassment, the receipts in coin | when most needed by debtury and when they are least | United States was $522,475\8/2, a8 against $44,177,586 tor ‘The decrease in the receipts from banks and bankers is | reasons, that comparatively inexpensive wooden pavile tyoin custoius have been greater than the proportionate | able to respond. the previous year, due principally to that provision im the actof June 6, | ion wards be built on the grounds adjoining, and only Treasony Daranrwent, aimount required for the same period to meet the interest ‘There ts no safety tor corporations or individuals whose ‘There Was tn increase in certain articles exported as | 1#72 which raises the exemption o! al! sums deposited in qpobvexpondivuves bo made upon the present buildings Wasnrnaion, D. ., 1, 173. on the public debtand all other expenditures which are | capital employed is wholly or mostly borrowed on call. | foliows, the value being stated in currency necessary to fit them for administrative pure savings bagks, &¢, in the name of one person, from $500 | as may te I. poses. , $881,727: | "The repeal of all stamp taxeatmposed under schedule | ” The recomm: i641: wood | B, act ot June 30, 18s, m ruin in the | | Cotton, $17,672; Wheat, $ payable in coin, Many ravings banks were protected I , themselves of | $1,425,255; bacon and hams, $14: Brx—In compliance with the provisions of law I have For the remyinder of the year the currency payment | recent financial excitement by availin 637,194 5,A5; ation is also renewed as'to the use for 8 Congress the tollowi Will be inucu larger than thé ordinary currency receipts | provisions in thelr rules rei sixty days or other | lard, SLO0%196; cheese, $2,745,102; Oils, cept that of two ceuts on bunk | hospital purposes of wooden pavilion structures, of alm- She Zonor to epbmit to Congress the followlag, ena vithout the sale of god. ‘the revenues have already | periods ot notice before payins Hora, thus inghing | and 'manufeciires thereal, $357400;" manulactares of | checks, draits, or orders, took etiect October 1, 1872 aud | ple design and comparatively amall cost. which may be BRCKLPTH, BTO., FOR VISCAL YEAR ENDING JONE 80, 1873. Jallen off suflicently. (o make it important ant necessary | al: their deposits payabie on tin ery cautious and 372,725; coal, $9534 rugs and chemicals, | hag caused a falling off from that source. destroved and renewed when their continued occupancy fhe moneys recerved avid covered mito the Treasury | to exercise the greatest econormy in appropriations and | well-managed savings institution has sucha rule among es aod skins, $2,150,845: furs on% fur skins, The class of articles and occupations formerly taxed | renders them unhealihy. In these views I fully concur. expenditures ior the future, And, should there not be a | its bylaws, sine! mes, gas and PUBLIC BUILDINGS, uring the fiscal year ended June 30, 1873, were: ather and leather goods, $1,621,409; in sive | but now ontirely exempt mein revival of business at a 9,731, early day and an increase in Without attributing the stringency im the money mar other sodrces of taxation on lists repealed prior to the In the annual report of the Secretary of the Treasury From customs. the reecipts over those of part 'Woand a half months, | ket, which isexperienced every autumn and occasion- port of gold and silver in excess of the imports | act of June & 1572, and the receipis irom these sources | for 1872, the attention of Congress xe called to the fact From imiernai aldiional meays will be required to meet expenses | ally at other seasous of the yeer, solely to this practice | was, $63,127,65/, aa against $56,133,845 for the previous | constantly and rapidly dimiaush. that very large sums of money would be needed for tho From sales of from tax on cir tional bank: Shoula such be the case, | recommend additional taxa- | of paying interest upon deposits in the larve cities, Itis | year, In accordance with the provisions of the act of De- pietion of buildings begun or authorized, and it was lion, judiciously laid, Ko as to be the least burdensome | evident that, when money is less needed in legitimate The bolance of trade in merchandise has been largely | cember 2, 1372, the offices of assessors and assistant | recommended that, wiih the exception of pavilion ho» 6,820,037 | upon the people and the business of the country, rather | business, the practice encourages overtrading and speen- | again: internal revenue have be A ae the country tor many years, and the country has n abolished, and | pitals and a building for the accommodation of the Bu. ‘ From repayment ot in , | thonaresors to borrowing money and increasing the | tetion, always detrimental to the best interests. of the | exported during tlie 20 years ending’ with the last seal | accounts approved by the Commissioner of | reau of Engraving and Printing and the surplas files of mie: 514,206 | putsic debt, country, and the bad effects of which upon those in- | year gold and silver to the extent of wore than a tbou- ‘enue and referred to the accounting offi- | the Treasury Department, no new work shouid be aa- ome’ fines, +, StOFAEO, AC of Indian trost ands.. ‘ nsular), letiers palent, “homes In te estimates for the next nine months, 23 well as | torests become more app rent, and the disaster more | gaud- million dollars over and above the amount im- | cers The number of these officers varied accord! ng to thorized. Contrary to this recommendation, Con ++ 1,976,409 ) for the next Mscal year, the probable etlect of the finan- | widespread, when the necessa.y Contraction begies to be | ported. a the exigencies of the service, being greatest in 1863, when | While making no appropriation tor the buflding 818,40 | cial and basiness derangement has been somewhat taken | sei, For some months past, and especially in the months of | there were ¥,0i3, of which 241 Were assessors; since | named, into account, but, a» itis yet too early to deterimime its T recommend that national banks be prevented from | October and November, the or trade in merchandise | which time the number had, up to the taking effect of the | ings authorized the o: 4 the purchase encement of 17 new build- for several others, This possible to do at this time, nm dircet tax. itcan prevent national banics trom be months ata ra ‘nore rapid than ver betore, except in ratifying and healthy mcrease in the receipts therefrom | expended i one ye, aite Ay ROS es e533 Osc Uesscaacpensest ee 1uli effect upon the future revenues, or to estiinate when | paying interest on deposits, or that they be restricted | has greatly increased, and, owing to the disturbance of | act above reterred to, been Feduced about one-half, legislation, wxether with the work previously come From proceeds ‘ot sales ‘of goverument’ prop- and to what extent they will be restored to their jormer | aud Ihnited therein, eliher ‘by direct probibition, by dis- | fnanelal atlaire und'other causes, the importation of | ‘ihe systern of collecting taxes by xtumos, and withont | mnenced, bas imposed an unprecedented and exiraoi erty ae Rieeeacane ainounts, these estimates are subject 10 fulure contin: | eruninating (axation or otherwise, goods has targely diinintshed, so that the balance of trade | assessments tn found to give general satistaction. | nary amount of labor upon the Supervising Architect's, From Marine Hospital tax . gencies, wh dur the next lew munths, Congress, While legislation by Congress cannot prevent St at present is in isvor of the United states; and gold and | Since its apptication to special es they have been | office, and has rendered 1. necessary to submit estimates From steamboat, 1 will be betier able two take into account and t6 judge of | banks and private bankers trom contin silver have dowed into the country during the pasttwo | collected more promptly and thoroughly, and a.move | in av'ageregate sum mucl larger than I think should be | | From protiis oneot any nt, | earnesily commend every reduction in | tn, and instrumental in producing, the cmbarrassments | the year 1861, waen tor the whole year the excess of Im- fr apparent. Tt is highly fmporfent to limit the erection of public From tax on seal. skin: he appropriations wh ch’ may be found possible, to the | and difficulties to which tt necesarily leads, poris over exports was $25.515,031, and for tue past 2 | The old assessment tists have been disposed of In a | buildings to such as are huperasively demanded by the ¥rom miscellaneous sow ad tut thy yw the n The national banks, organized ty law of Congress and ears (here has been no other single year in which there | large number ot the colicetion districts, an! the aggre | necessities of the public service, and where suitabl the pr ywhere | having relations with the government in the issue of wis becn ap excess of imports of gold and silver over the { gate amcunt held as collectible thereon does not exceed | tam, yorary gecommodations cannot be provided a Tolat o:dinary receipts... dixpo Reouraged by the | circultting notes, ought to be the most cautions and sate ON. reasonable cost. While it is ao doubt true that ali build: ' Premium on sales of coin. sovernivent throweh {heir public servants banking mstitutions of the country, and should be kept milition of the carrying trade with foreign coun- REVENUN MARINE AND LIPESAVING SERVICE, ings authorized to be erce ed are needed, and their early SFUNDING THE PUBLIC DE i 4 aloof trom all hazardous business Which it is not po diate predeces- | ble to prevent sanguine, yenturesome and spe tries, though exhibiting a large adverse batauce, shows | A marked improvement has been made during the past | completion would be devirable, those in the larger cities Under arrangements made by my imin wiative | some slicht gains, with prospects of still iurther im | year in the Revenue Marine service. the number of ye where permanent buildings are imperativeiy demanded Total net receipts. Balance in vreasury wor in January last, the retunding of the public debt has | individuals from engaging in, atthe risk of thelr capital | provemeat. Uf the exporis uid Amporis during the past | wels bourded and examined, and the nusber of those re- | for the proper transaction of busitiess should have the $3,017 received iroin Lee siully Continued, and is still progressing in | and their credit. year 27 per cent were carried in United States vessels—a | ported ior Violation of revenue laws, and of ihoxe assisted | prefcrence. With the pre-ent organization of the Super- br the sate manner ds previous negotiations Were , ” With a fixed amount of circulation of beni notes and | pain of three per cent over the previous year, in d.stress, as well as the BumLer of lives saved throuzn | Vising Architect's oitice, It does hot seem vracttcable in & Total available cash F condacted. Subscriptions have been mae to the new | of United States egal tender noses. tot wablein | "the Increase in shipbuilding in the country is decided, | the agency o1the revenue cutters, Is largely ia excess of | single year to commence or properly supervise the cous The net expenditures by warrants during the same | fie Per ecnt funded 1oun to the extent of $84 58),(00, and | coin, and. with volicabov in currency, there must | Oficial numbers were awarded by ihe. Burcau of static: | like sorvize pertorined during any previous year. ‘the | struction of ai the buildings authorized by Congress. sarlod wranetes y the proceeds are applied, as fast as subscriptions mature, | be each year tmes of and times of scarcity | ties to 1.699 vesse of the ageregate tonnaze of $13,713 | character of the service has been elevated by rigid pro- Tn this connection i destre to reter to the labor per- Perio susro | 12, the redemption of ap equal amounc of five-twenty | 01 currency, depending wholly on the deround, no | tons, while during the year. preceding the addition to | tessional examinetions Ten old vessels have been thor- | tormed by that office, and the magnitude of the business For civil expe «SIRE bonds hearing six per cent Interest, | m*thod existing sor increasing the supply. onr inexcantile marine was only 3861 tons Since the | oughly repaired, and three new ones have been burl. | committed to fis charye. For Joceign 7 In addition to that amount the $18,500,000 received | | With a circulating medium redeemable in coin a re- | close of the fiscal yeur still srestor activity has prevailed | ‘There aro now emploved 28 steamers ani ax sauing | There are 115 buildiage finished and occupied for or indians from Great Eritain in payment of the’ Geneva award, | dundaney is corrected. by 1h under the first article of the ireaty of Washington, bava | the import of specie trom other countries. been used to redeem, so far, the outstanding public debt | ‘There isa prevailing sentient that more elasticity us and bearing six per eit interest, aud an amount equal to the | should be given to the volume of the currency, so Unit a +, 46,823,188 | debt so redeemed bas been invesied in five percent | the amount in circulation might increase and diminish ing Vesseisand i bonds of the tanded loan, and a registel export and @ scarcity by rdson the Atautic seaooard. From the fst | vessel, aud these are better adapted to the service re- | federal purposes, which are by law placed under the tothe Ist of November documents have been | guired ot them than were the vessels rormeriy in use, | charge of the ‘Treasury De; artiment, consisting of 10 1,288 completed Vessels of 181,00 tous in all, | ‘Ihrce new steam vessels are constructing and will go | Treasury buildings custom leuses, court houses, ch returns as have been received, incomplete as | into commission next spring, With,the addition of a | post oflices, appraisers’ stores, warehouses, marine ey are, indicate that thers were building in Oetover | new steamer for the Columbia River’ aud vicinity, itis | hospitals, mints and assay oflces. ‘the Supervise (1 bond there- | according to the necessities of tho business of the country. | Jast 983 vessels, ot the tonnage of 177,029 tong, including | believed that ibis brancu of the service will bein a'con- | ing ArchitecV’s office has, by direction of the Sec- For pension For iniiiiary estab! tions, rver and harbor improvem arsenals. For naval shinent, inc improvements avnavy yury'""'".........4. 2826206 | jor has been issued to the Secretary of State, in trust, to | Butthe difference of pinion on this sumect is so great, | 0) steamers with a tonnage ot 67,007 tons, vi | dition to answer the demands apon it, economically and } retury of tho Treusury. tie supervision of the For wsceiiaveous, civil, including public be heid sub ect to the future disp ion of Congress, ace | and the real diiicultles atten its solution are so | which 18 iron sieamers, with an aggregate of 33,492 | elticiently, fur many years to come. and supply of these buildings with furniture, heating aps Duildings, higat houses, and collecting the cording to the provisions of Vie act of March 3, 1873. numerous, that, without discussing it of TOVENUG, sies thas: 44) For inicrest ou the public debt... For premium on bonds purchased any ofthe multitude | tons are in course of construction on the Delaware. I desire i roncw the recommendations heretofore sub- | paratus, safes, vaults, fuel, tights, water, &o. Mos When the subscriptions above mentioned shall have | of plans wh a ch have been presented to the public | — in view of the high price of iron and coal and the ro. | mitted to Congress thatthe navy pension laws be nage | these buildings require more or ieos repairs every year, matured there will have been tus effected since Jaun- | through the press and otherwise, I earnestly commendio | centadvauee in the cost of labor in Europe, toxether | applicable to ihe officers and -eamen of the Kevenue | and 3) of them are now undergoins extensive Tepairg ary last a conversion of the debt bearing six per centin- | tie wisdom of Congress a carefiland thorough consid- | with the superior tensile strength of American ship- | Maric, and that provision be made tor a retired list of | und remodelling, several to.an exient involving as much terest into the new five per cent loan, $10,000,000, maic. | eration of this important subject, rendered more obyi- | plates, as proved by acwual experiments, there 13 Teaso ioe measures ave, demanded to, aid in pro- | time and attention as the erection of new buildings, Ing an annual saving of interest 1 the amount ot | ously important by the present embarrassed condition of | abieencour Xpect tak this branch ot indus- ey, and in justice to meritorious officers | The oilice is also charged with the construction of Total, exclusive of the pudlic debt... Redemption ot the privcipal of the deb $1,000,00); and the whole amount converted into this | large business interests which have stifored by the recent | try will make ra So progress, to the great ad- nox lives age spent in the periorimance of | New buildings erected under iho “i reasury Deparkmen clusive of the certificates of deposits issued Joan since the passage of the Retunding act will bo | financial erisis; and that, in such inquiry, avoidmg | vantage of the cominerce, trade aud financial strength zarcous pnbli¢ service. and is now engaged in the constructicn of 17 such ne’ ander act of June s, 1872, tor the redemp- $00,000, reducing the annual interest charge | further intauion of the issue of irredeermable legal tender } of the country. ‘ From the appropriation of $100,000 “ior the establish | buildings, and also the new State, War and Navy De- tiow ot Which a lise amount of United States 3,00/,000, notes. the most desirable of all financial results to be | | ihe follo. ing table shows the amount of mérchandise | ment of new, Iite-saving statiolis on tie coast of the | partmentin this elty, and the new jail tor the District of Noles Was set apart and held as a special de- ihe credit of the United States has not stood higher | attained—namely, a permanent revurn to the sound basis | imported or taken out of bond at the places therein | United States,” 21 new stations are im pr.eves ot erection | Columbia. posit oo 8D) AB II since (he close of the rebellion than it does al the present | of specie payments, and a vold st.ndard to which oll our | named since the passive of the act of June 6, 1872, author- | upon the coasts of Maine, New Haupshire, Massachu- | The expenditures during the past year were 9,009,658, Out rand ts of di posit tne, wid it as believed that the retunding of the six per } paper issues shall be made of equal value, shall be the | izing the importation iree of duty of certain articles ac- | setts Virginia and North Carolina. Ox these’ 10 will be the Lalances of appropriations standing to the credi i ment ded fo the prin- cont debt at # lower rate of interest cau be sti) turtuer { aim, tually used tor sbip building ready for oecupancy by the lst of February next and | of that office on July t, 18) jounted to $14,774,573. cipal the ft anud to the cash continued, To allow national banks to nse part of their reserves, | ————--~ Par Sey the of ata later period in the season, Arrangements Congress has provided tor the erection of 2) new bulld- balance m the Treasury., 91,770, LOAN OF 1858, At seasons of the greawst pressure, under Proper restric: : 5 St | are also being made for the establishment of two other | ings aot yetcommenced, plans tor six of which are now % Uniter the provisions of the vei of June 14, 1358, as | ‘tions and regulations, would aflord some tlexibilit Duties | D) FF | sations, No provision of law exists tor the two addi. | being prepared; sites Nave been secured ior 1, and ne- Leaving not disbursements on account o amended Ly the act of March 3, 1809 (chap. 84 sec, 6), the | — Rigid statute laws applied to all banks, at all seasons Port. Value. | Revit | Hsti- 3% | tionai superiniiendents which these new stations render | gotiaifons are in progress for the purchuse of the remain- a Secretary ot the Ircasury contracied a loan of | all places alike, often prove au embarrassment ted, [mated F* | vecessary, nor tor keepers and crews tor the saine. It is Ruins, ; ‘ Tots $39,113,680 00,00. tor part of which registered bonds were | and injury when they conflict with economic princicles. & | recommended that early authority be given for the em- | ‘the Supervising Architect’s office hasalso the renting Balance inhi" 8 issued “redeemable at the pleasure of the United States | and the laws of trade and business, which are stronger — | ployment of such persons. ofhuildings and office rooms tor the use of the various Yo which aad spe at any time after the expiraiion of 15 years aiter the Ist | thin legislative enactmenis and cannot be overthrown fr A\though during the past year marine disasters have | uficers of the Treasury Department Piroushout the coun- tencer notes jor redemption ot ¢ of January, 1859,” and ior the baianee and much larger reby, Associated banks at the several redempvion 47 | poen unusually numerous, itis gratitying to be able to |. try at places where there are no public buildings or where Aitlcates of depo wbove.... 31,730,000 part coupor bonds were issued, “payable at any time jos med iv the banking law, which are the great = | stave that upon the coasts provided with Lie-saving sta- | such buildings are insuificien. ‘The number now oi ties after the Ist day of January, 18/4, on presentation and | controlling centres of business, might do much to vive } | ons, which are the most dangerous upon the seaboard, | pled is 226 which are jocated in every Siave 1a the Union Total cash balance July 1, 1873.. 131,192,028 | surrender of the certificate'at the ‘Treasury of the United | steadiness and satety, If they were authorized, through 2 | the 1bss of lity and property has been exceedingly slight. | exeept Kansas and Arkansas and in tive of the Terri- . Sap States. ly constiinted hoards or commitiees of their own = the wreck reports trom the various stations sliow that | tories, at a total annual rental of $190,438. Total... a $440,050 It will be perceived that the two classes of bonds differ W oxercise a large dise the use of their Totals 0 | since the tast annual reportof the Secretary ot the Treas- Great credit is due to the Supervising Architect and his By the foregoing statement it will be seen that materiaily in phraseology ax to the option of payment es, in the rate of interest to charged at diifer- | Duties estimated. ury s2 vessels have been driven asbore upou these coasts | subordinates for the able, falthiul and economical man- y, us : Age ailer January 1, 1874, but fam unable to discover, either | ent seasons and under different circumstances, and in 3 ess of weather, valued, with tier cargoes, at | ner in which they have conducted the Vast business sub- the net reventics tor the (seul year were %, ° , by, stress OCs, at and the ordiuury expenses.ss-+.> trom the act itsell or froin the records of the Department, | other matters, within Limits prescribed by law, Total... ’ $522,200, on which the loss was only about $220,000, initted to their immediate supervision. Reaietesy canons x that any difference in the eontrncts was imiended, and it | — Should it be deemed necessury or expedient to tempo- | ~e puti ted, but vessels engaxed in coasting | _ The number of lives inperilied Was 285, of which num- NEW YORK CUSTOM HOUSE, maria aay pis taveniece is presumed that the variation in language of the two | rarily enlarge the paper money circulation in cases of trad sped cite ieee de py engage & coast NE | ber but a single life was lost. The great extent and rapid increase of the commerce oe Cobble id tptgete : classes of bonds was wholiy accidental, since the | great emergency, provision may Le mude to permis the rade moro than sin oue year, hence duties In accordance with the directions of the act of March | of the port of New York, where are collected about 67 Which has been applied to the reduction of the pamaucontheactorsuan? 1364, auihorizing the Secre- | national banks, under certain circu: tho I! dotesue teaistered bonds oF , a oT ag tances, and to a | secrued. 8, 1873, measures have been taken to ascertain “at what | per cent of all the duties levied on imported goods, has 1 tho Treasury to Issue registered bonds of apy loan | limned extent, increase their 1 e circulation by a | | Nothing, except a sound financial system, is more im- | points on the sea and lake cous.s of the United states he | already rendered the custom house accommodajions debt as follow: Reduetion 0! principal account, exclusive of a ‘ si5 | ML exchange tor coupon bonds of the same lown, the | pledge of United States bonds, bearing no interest while | portant io the welfare of the country than that of tura- | Psraptishment of lite saving stations would best subserve | there quite Insufficient. With the certain Increase of Belair et $59,198.53 } Coupon tonds or this loan to the ammount of about $4,00),000 | Eo pledged, of subjecting tie banks. to special tarauon | tow and retaining. the balance of trade in favor of the thefnterests of commerce and humant ye? and a Fecort | business which this port must_attain in the future, end ecr prc Rey ony a etha toe ee have been exchanged into the registered bonds, and ihe | upon the circulating notes obtained thereon, or upon such | the United States, by a healthy stimulation of the agri- | on the subject will be transalited to Congress during the | wlth the prospect of its becoming more and more an ex- special dep. demption of vertificates pared with Juno 30, 1872. Hount of each class now outstanding 1s $6,295,000 regis- | other terms that It would be for (heir interest to recail | cultural and manufacturing industry or the country, the | pession. change centre for other countries, it 1s a matter of the tered and $13,745,000 coupon. the notes and redeem the bonds at the earl ossible | Teducton in the cost of production at home, and of the | ““For the purpose of recogmizing and encouraging the | first importance to select ut an early day a site for a new It is understood that some holders of the coupon bonds | aay atter the pressure and ther necessities should have | transportation of merchandise trom the interior to the | services and crews of the stations in the performance of | cusiom house on a larger scale, together with the bulld- a Braaalsn tn Cave Yo regarded them ay Payable on the Ist ot January | cefise seaboard, and the bu:lding of ships and vessels to do the | tne perilous duties they are irequently called upon to un- | ings needed a connection therewith, where the situation, duction in debt... tor atany time alter that date, at their option. Ap- Wut any large augmentation of the issue of United | carrying trade, now mostly in the hans of the people of | dortake in rescuing the shit ereowentt 48 recommended | convenience, and accommodations will be adequate to axt 0 y large ta ‘4 P This statement treats so! of the principal of the | plications have been made to the Department tor the | Stutes legal tender notes in tine of peace would not only | other coantries; and no legislation showld be neglected | that a system of rewards be adopted, in the shape of | the requirements and worthy of the position of this 0 font, By the monthly debt statement of the publiedobt, | Privilege of exchanging coupon bonds for five per cent | be a departure from that “decizaation of public pouey | which may asist the industrious people of our country | medais of he-or, to be distributed to such of them as'may | Wart. The expense of erecting the building may well be per ney wit crag’ onds of the iunded loan, which exchange the Secretary | and pledge ot the public faith to the national creditors,” | in attaining those most desirable results, ‘ particularly cistincuish themselves Ly special or notable | extended over @ series of years. The present into which enter ‘he accrued interest, interest duc and | of the Treasury has now no authority to permit. made in the act of June 50, 864, that the total amount of With the balance of trade in favor of the United | yots of gallantry or during resuiting in the rescue of per- | House jot may be sold to advantage when no longer unpaid, ind the cash iu the Treasury, as ascertained on | , Noappropriation hus been made, elther in the actan- | such notes shall never exceed $40.000,N0, a8 well as tvom | States a return to specie payments may be easily reached, | sons iron haminent danger. such rewards might be | quired in part reimbursement of the ex ery . as the principal of the | {Orizinx the loan or in any subseglicnt act, tor the pay- | that moro solemn pledge contained in the frst act of the when reached may be maintained if such wise fl: | properly extended even beyond the lie-saving service | commend this subject to the consideration of Congress. the day of publication, ay well as the principal of the of the principal, ana no provision of law exisis tor | Porty-drst Congress, “to make provision at the earliest: ial measures are atopted as will prevent overtrad- | and bestowed upon any otvers who may have made ex- 5 ‘THI SEAL ISLANDS, debt, the reduction of the debt during the past year mining the pleasure of the United states ast the | practicable period for the redemption of United Statey | ing, extrayagance aud speculation, and encourage | f-aordipary exertions, at their own peril, im saving lite | _ Vatuable reports nave recently been made by Captain ted to $11,637,630, and the total reduction from | MMe Of payinent’ot either class of bonds, Notes 10 coin,” but wonid postpone the day of specie nay- | economy, industry, thrift and only well-direeted and | 4 marine ters. Similar rewards are bestowed in | Charles Bryant, agent, and Mr. Henry W. Elliott, as- egal pey (ae ebadenga , . t The attention of Congress is thas called to this loan | ments and render it m atmoult to attain in the distane | prud tenterpris s—conditions a3 essential to the pros- | foreicn countries Where life-saving ins itutions exist, and | sistant agent of che ury Department, at the dee mn our national tinaneesand | periiy of mations deposit, as com- Maren 1, 1859. to November 1, 1873, has been $333,629, with the recommendation th ach action Inrelation | future, unsctile confiden o individuals, | are considered prizes worth the most adveniurous efforts, | lands ot Alaska, in respect to the geoxraphy of the is- the annual saving of interest resulling theretrom being | thereto may be taken, before the Istday of January | be a Scriousdetrimeat to public credit at home aud CUSTOMS, COMMERGK AND. NAVIGATION. THE COAST SULVEY, lands, the condition of the inhavitants and the Nabits of ee next, a8 Cotigress may deom wise and just. abroad. The attention of Uongress Is invited to the necessity of | ‘The important service of the coi rvey under this | the scala They concur an the opinion that the law of $27,435,952, % FINANCIAL © ND TH CURRENCY. can be no doubt that during the eight years | a revision and coditication of existing tariff laws, Duties | department has peen prosecuted with vigor and wetui- | July 1, 1870, providing that of the 100,000 seals to be AKCKIFTS, ETO., FOR MINST QUARTER OF FISCAL YEAR END hg practice, not only of national banks- erebellion there has been & growing desire | on imports are now imposed under 44 principal statutes | eh"yret inne uote character of Wanye our haroors | taken Aunaal ‘the proporilon ot one-quarter from St. but or State banks and private bankers, of paying inter ‘ople to restore the paper circulation to a | relating to classification and rates, besides 20 other acts | and m «t COMBE passaze is or constant | George Island is altogether too iarge for the number fhe recei (on deposits attracts currency from ail parts of the rd, that any sieps taken to accomplish | or resolutions modirying or afecting tariff acts, all | Wwaten to maintain the charts and aids to navigi of seals now irequenting that island, making it eal year untry (o the large cites, and especially to New York, will Se received with seneral favor. passed between Marchi 1, 1851, and March 4, 1875, to which | fiou as correct indveators of the actual channels. Work | necessary, in order to obtasn the full complement, to kill From customs. e great fie At soasons oi the year when | Itis not possible to resume and maintain specie pay- | must be added the yery humerous customs revenue laws | has been pro-ecuted on portions of the coast hereto seals too smell to afford first class skins. They think the Froin saios of pi there 18 eouparat i ments with so large an amount of notes in clreutation | enacted prior to March, 1801, and remaining either and examinations and resurveys have al proportion between the two islands should be 85,000 from. immense balances aceuinulace in New York, where, not | and so sinuil au ainownt of gold in the country. i The vol- | wholly or partially in sor beiug required by the demands of legitimate and ordi- | ume of currency must be reduced or that of coin greatly SE alo ious en internal revenue Hoston, New York, Philadelphia, Buiti- | St, Pani and 15,000 trom From, tux on circulation, St, George. 1am of opinion that o, San Francisco and many other harbors, as well as | the jaw of July 1, 187 above referred to, should be 80 nents questions relating to bank: nary business, they are loaned on call ata higher rate | ine should tie national banks be prohibited from oper assessment of duties constantly arise, There 2 great thoroughiare between Nantucket and Mon altered that the proportion to be taken trom the separate Sram of iiverest than that patd to depositors and are used in | sellin; coin received by them as interest upon bonds | is often a direct contlict between different statutes and Hiwenty ive vew charis are repaited as published | islands may be fixed by the Treasury Denarinient, and ways. . . speculation, | pledged to secure circulation, retaining the same in | occasionally between lwo or more provisions of the same the year, The publication of a “Coast Pilot,” changed irom time to tine as the course of the seals may Froni customs’ very year, at the season when the demand sets in | whole or in part in reserve, or loaning itin the discount | statate, while single provisions are irequentiy held to | printed sailing directions for hardor and coastwise havi. | render lt necessary, From consular, | from thé West and South Jor currency to be used in Day | of hills and nows payable ld col, as Congress t embrace different meanings, These diflerences can be | gatou, has heen commenced, which, with the annual tq LOUISVIELM AND PORTGAND CANAT. From proceed: ment property mentior and transportation of their agricultural prod. | se would be a gradual accumulation of gold in,| setvied only by arbitrary iuterpretations cr by adjudica- | fredictions of udes, will complete aud digest for ready In the “Act making appropriations ior the renal, pre- From miscclianeous sources ucts, there occurs 2 sitiugency in the moucy market anks, which would do something towards preparing | tons in couré As @ necessary consequence, protests | bse the information iaid down on the charts, Much in- | aervation and completion or certain public. works on arising irom the calling 10 of such loans to ux thiisde- | for resumption. “This, with a constant inerease of cain it | against the payment of ducics exacied by colleetors of | terest has been manilested in the extension ot” the great and harbors, aud for other purposes,” approved Net ordinary receipts... maui. tho Treasury, lindertaken with the approval of Congress, | customs and appeals to this departinent, based on such | triangulation Jines across the Continent; and the system, 13, 1573, the following appropriations and provi- Frown premiuin on sales of coin. Uniil this year, though annually creating some embar- | would, ere Tong, lead to the desired result, when other | protests, are of daily occurrence, while sults brought by | steadily pursued, Wil in time, ata sual! aunuBl expense, | sous are made:— From government of t sritoin. rassmcn, this demand hax been met without serious | conditlous required for the maintenance of specie pay- | the government to Collect unpall duties or byindividuals | supply tte iramnework for an accurate map of te whole “For completing the Louisvitle and Portland Canal, ‘of the award of the Tribunal of Arbitr ditieutty. ments should become tayorable. to recover back duties crowd the caienders of our | couutry. $10,000; and the Secretary of the Treasury is authorized atdoneva. During the past summer, anticipating the usual | ‘ihe acts of Congress of Fevritary 25, 1952, July 1. 1862, | courts. autucon stringency, the Treasury Veparanont sold gold | and March 3. 1863, together, authorize. ‘the Jissite of | The number of statutory appes while the markoc price was and bouds for sale in there was a surplus of tigntnovses, aud directed to assume. on behalf of the “United. States, Isto the Secrotary of the | I have frequently attended the meetings of the Licht- | the coutrol and management of the said canal, in con: abundant, | $40,000,000 of United States notes, in aduition to $000,000 | Treasury on tari questions during the last fiscal year | nonse Board, and have. been. much iipreseed with ine | formicy with the termsot the joint resolution ot Us | of stich notesreserved tor the purpose of securing Drompt | Was 4731, exclusive of imiscellancous cases or applica | {yn ortance of the work Hier its coutrol and tho eis. | ature of the State of Kentucky, approved March 23, payment of temporary loan deposi for relief, numbering 6,0%9. ciency with which it has been conducted. As? at such time and in such suanner as in his judgment Total receipts igh, curre Balance in treasu id in the Treasury, aul thereby andthe actof June | tor s when tat was ihe circulating medium he banks ‘ound themselves unable t nds upon then), currency In eirculato: NUK has never been repealed, and commonly Known as “damage stilowances,” or propor. | peen placed, and [ recommend that the Treasury De- | debts:due by said canal company, and purciase tle stock meet | unitormly been held by the ‘Treasury Departinent and | tionate abatements of duties ou merchandise injured | partment be authorized to inake experiments in the | of said directors.” decane | the law’ officers thereof tobe in full force. In | during the voyage of importation. These vary atdimter- | Lime direction by. applying to two ot onr most impo © United States, by repeated acts, have manifested excvedingly searce, and the business of the couniry be- | view of the uncertainty which exists in public senti- | ent ports, exceeding at some by 10 or lS per cent those | tani stations, on towers already consiructed, one ele the intention of taking possession of this caval and main- eae greatly embarrassed. ment as to the right of the Secietary of the Treasury to | made at others im like casas, In many instances the ex- | tric and one gas light, of most poweriul character, taining it for the benefit and improvement of the naviga- in this condition of things great pressure was brought | issue United States notes in excess of the minimum, and | tent of damage can be only approxunately determined, MINTS. tion of the Ohio River, and the impociance of consam- to benr upon the freasury Depariment to atord relict by | the conflict of opinion as to the policy of doing so, con- | while in others there is room to suspect frandulent prac: The Mint Bureau, established by the act of February 12, | mating that intention at as early a day as possible is ap. the issue of Uiited Staes noles. Tho first application | ceding that he has that right under the jaw, i respect- | tices, and, 1n ail, the operation of the system is untavor- | 4873. was organized on the Ist of April, when the Coinage | parent. As long ayo as 18 the United States had become came irom a number of centlewen iu New York, sug- | fully recommend that Congress shall set these questions | able to the honest importer as well as to the government. | act became operative. Or. H. &. Linderman was ap. | the owners of all the sbarcs in the compnny except the - : gesting that no measure of relief would be ade | at rest by a distinet enactment. Itheretore recouimend its entire abolition—a measure | pointed director, and under lis able and energetic man- | five shares held at the est of the thea Secretary of Owing to the | ion of the interest on the | that did not place at the service of tho banks of that cit) Uncil thar is done, whenever there is @ stringenoy in | which would place al! importers on an equality in this | agement the operations of the ming and assay oltices | the Treasury by tholdireciors, to enanle ther to revain public debt maturing July 1, the amount paid outon that | $2,0.0,001n United states notes, atid askiny that the As- | the inonoy market there will continue to be a pressure | respect, while thero would resuit to them only the extra | have been edicently conducted and amore specdy aud | their olllces and keop up the corporate organization ana luring the first quarter of the year is more than | Smt Ireasuver at New York should de authorized 10 | upon the Trousury Department by thore who-favor a pole | expense of insurance on the duties, in addition to that | gysrematic rendition ot the bullion accountsedected, | the management of the business of the company. Since account during the first quarter of the year is more than | issue to those banks that amount or notes na a loan upon | joy ot expansion fo increase ‘the issue of notes to the | upon the foreign cost of the goods, ‘At the request of the department he has obtained valua ¢ Congress has at diferent times made appropria- hait as much as will be required for the next nino | a piede of Clearing House cortificates secured by ample | maximum, by the purchase ot bonds or otherwise; | _ Many articles upon which duties are now levied, and | tie information on Various technical and seientite \d expenditures for eniarging and improving the months, and although it enters into the expenses of this | Collaterals, and tor which cerilticates all the banks were | whilo, on the other hand, those who conceive that the | which do not come in competition with those of the inan- | point connected with the coinage. by which the transac. | caval to the amount of more than $1,00,000, tor which, i > i to be jointly and severally responsible. ‘This proposition | public interesis will be better served thereby will bring | ufacture or production of this country, aro imported in | [Gn of businoss has been. greatly facilitated, the i'reasury has never been reimbursed, quater, It is properly chargeable toa longer period of | was c lined, itbeing clearly not within the duty or the | equa! pressure to keep the lasue down to the minimum, | such small quantities that the duties ‘collected thereon, The coinage during the fiscal year ending June 39, Recogmzing the great benet that would acerue to the Total available... < cumilaled about $14,000.00) oF Currency, With ihe view | 50, 1864, contains these Words:—"Nor shall the total | — The onerous'duties insposed upon the department, the | “Cuchehthouse establishment is now larger than that | the interests of the United States and the commerce ‘The expeniitures during the same Ay tae r suclt part thereor as might be | amount ot United States notes issued, or to be issued, | vexatious delays to Individuals, and the expense of litt | ofany other country in the world. extending with its | thereo! taay require, and the sum of money necessary to follows:— avy in th : bots tor Lie sinking fund wt | ever execed 340,000,000, and snch additional sum not | gation to ail ‘concerned, resulting trom this state of | [ichis aud beacons over more than 10,000 miles of coast | enabie the Secretary of the Lreasury to carry. this pro- Forcivil and migoetiauedtis expenses; tholad> ing Uh winter when they could be | exceeding $59,000 00), as may be temporarily required ior | adairs are obvious. The following rewedies are suz- | ana shore, maincaining, at the ciose of tie last fiscal | vision tuto elect is hereby appropriated ; provided, that ing public buitliny & pric par in 1, or in meeting | the redemption of temporary loan.” gested for adoption, in ® general revision of the tari | year, 51 lixhthouses, 8 powerful siznais operated by en- | alter the United States shall assume control of’ sald lectins ive revenu S upon the Sreasury, as cireuhstances shoul ‘che temporary loans réierred to if the foregoing | laws os Zines driven by steain or hot air, 2 lishiships, 3 day or | eanalthe tolls thereon on vessels propelied by steam For indiar require. acts having beon redeemed, the maximom amount of | Art—The abandonment of distinctions be: ypon | unlighted beacons and 2,898 buoys. shail be reduced to 2% cents per ton, and on ull other ves- For pensions... inis year there was o creat demand for cnrrency to | United es which, under existing laws, cantow | commercial usage. In other words, the material of During the past suunmer the Board, with my approval, | seis in proportion.” For matte piishiine pay tor the heavy crops of « by i which wed 1 $40y,000,000, which an article is composed instead its commercial | girecud its Engineer Secretary, Major Klfot, of the The resolution of the State of Kentucky recites the nd ha improve the E t of August, 18.5, when the amount of | desizuation, where a particular material forms the sole | Corps of Engineers of the army, to make an inspection | facts that all the stock of the canal company belongs to z susp outstanding was ec its highest point, | orchiel clement ot value, should control its classification, | of the jighthouse sy sot Europe, with a view of im- | the Uni ates except five shares owned by the blishinent. ‘ine witic ft graduaf con: | aud the rate of duty consequently imposed, whother | proving our own Dy the. Introducthon ot such modige the property of the company is subject to ry wad iniproy tie people \° limited by | ud valorem or gpecitic tions as have neen'fornd usetul there. lis report has bouds therein mentioned, and that tions in'ge | ery 12 Idol, to not more thik $10,000,009 and commis- | jeen made, and the practices in other countries which : ver debts, and directs the Louls in of dewand loans and a | n next six months, and thereafter notmore | sons” as an eleinent ot dut he even duter icom our own “will be duly ‘considered ‘by the | ville and Vortiand Carial Company to surrender t tor the wihdrawal oi depo re ci | than $4,00,00) in any one mont. On the 4th of Fev from this source, waile tnce comparatively | Board, with # view to the adoption of such as wili ren- | canal and all the property conaectod therewith to the maniiested In Uaited States notes aud evén in national | ary, 1805, Congress passed au act suspending farther re- | tritling in amount, is a irnittal souree of embarrassment | der still more edicient the liguthoure system under its | government of the United states upon the cerms and von- bauk notes, and they were drawn wherever wey could |' y, When (he amount outsiandin 1 complanitin the liquidation of duties, Its continued | Control. ditions therein spectied, the sixih and last of which is he A and were ly hoarded with a3 ui iat sum is now the miniinum lim wohiow is Lueretore not desirable. ‘Ar sorae of the most important points on the French | “that the goverument of the United States shail bet a s coin was ever hoarted in times or i | s ihe issue of the mnaxi- ‘hird—The repeal of all: provisions of law for what are | and Kugli-h coasts electric and gas lighthouses have | stch surrender discharge said mortgage and pay al | Total not expenstitures. Balunce tn Treasury Sep Ton » Many other expenditures are great authority of the Treasury Department, under any pro- ‘Assuming that itis the settled policy of Congress, as de- | are insignificant and do not compensate for the cost of = country bordering on the Ohio River by the United Was AivEsUneh Ay. Salvouthet cbarten OY redecdiet iy: | | VIROUE OC IN WENEN to omploy the public’ money if clared in tie uct of June 38 19d, above, cited, tint tho | follection, Leuggest that ail such articles bo added to | 187% was as follows Staves takin Posiession of the canal and Seducing. the the first than any sat quarter, by reason of the xchange on burope having iailen to unusually low | total amount ot Untted States notes,issued and to beissued, | the tree list. jold coinage. . tolls thereon, steps were tekcn to ascertain the debts of necessity of supplying disbursing officers with money ua- der new appropriations which became available on the Ast ot July. raies, and, indeed, having become almost uaralable in | shall never exceed $400,00.000, I am of opinion that It | The tees prescribed by lay for services upon the north- | Sliver coinage. - to the embarrassment Of our foreign and do- | would be unwise to require the amount in actual cir. | ern ‘rontier connected with the execution of the laws re- | Minor colnag je, applications were made to the Secretary of | culation to be kept up to the maximum or to any amount | lating to navigation and the collection of the revenue to, use the mottey in the Treastry in the | above the present minimum. ‘The Treasury, depending | from customsare different from those upon the coa Total... nierii the company, and to devise @ plan for carryin; effect ine Provisions of the appropriation eA Sore ited. oT istound that the unsecured floating debt of the com. ji hree quarters of parchaso of exchange. The !reasury Department, hay- vincipally upon the receipts trom customs an ai | and it is questionable whether such difference does not Daring pany, after deducting cashon hand, is not large, and Vor the remaining three quarters of the current Ssoal:| Foes eM occamon 40-0 tis Tor tts OWN Use, end Ho hecos: | taxation eitboe tae poner. at Dorrie oP ebare Ina. Constieatd @ Tlolaton Oe koe ConeTENIiGTAT Timtite in. | tsined was as followst—= Pray be easily nacertained and. paid and wher ee aoe year it is estimated that (he receipts will be-> sity Jor transterring 1ands to Europe, was compelled to | increasing its resources, with iiabilities created by Con- | hibiting the giving ofa preference by any regulation of | Fine gold shares of stocks may be obtained of the directors. by pay- From cust $11,000,060 | decline this proposition, which, if accepted, would have | gressional appropriations wh must be met in eur- | commerce of revenuc to the ports of one state over tuose | Unparved gol 8,485,602 ine therefor $100 per share, with interest from ¢ From sale: + 1,000,00 | put the department in the position of becoming a dealer | rency to the extent or nearly $20,000,000 & ought | of another; and @ revision and equalization of such fees e | % 1868. nm internal revenue €6,00),000 | In exchange, @ position clearly inconsistent with its | always to have a large resérye upon which it can draw | are recommended, Total gold.......+. 15, 925, 441 In addition to these debts there are outstanding 1,162 tax on national banks 4,200,00 | duties, to meet the ordinary demands upon it in case of emer- A tonnage tax ts now levied on all American sailing | Fine silver. bonds of the company, of $1,000 eac! with coupons at- edie railways... 300,000 tached, bearing six per cent interest, payable semi- bsaquently the Now York Produce Exchange made « | gencics, wheu the revenuics suddenly and unexpectedly | vessels engaged in the foreign trade, and on all suling | Unparted sliver aRelOnM Hope aes roposition ty aecomplish the same result in diferent | diminish by reason of & national calamity or Aoancial | vessels of other nationalities. [tis not imposed upon Ame nualiy, Of these bonds $373,000 will Inature. Janu From cunsular, patent ani Jorul. and also, Feauested, as others had verore: that the | derangement, which from tmo to tine are liable to | rican vessels eligaged im the coasting trade Seeametipe.| * Total aflver..csooevoseveess $11,000,034 | ste: ¥399,000 wilt Thatine Januar, Lae od} From sales of public property Secretary should pay at ve the twenty million loan | occur in all nations, of foreign nationality. in some cases, are subject to the Total gold and silver bars $27,517,530 will mature Janyary |, 1886, Vromt inlscellaneous sources. of 185s. ‘Such a reserve Is also rendered necessary by the fact | tonnage tax;_in others, they ave-cxempt.py old ureaty | Total g . \ While the resofudions of the Btato of Kentncky require The Chamber of Commerce of Charleston, 9. Total........+ $187,100,000 | tioned for the transter of currency to that city, For the samo period it is estimated that the expeadi- | RUtcHase with it, at that point, of exe! that the fractional curreney authorized to be weued to | stipulations only recently carried into effect But ail The reduction of the coinage charge from one-half to the amount of $5,000,000, now in actual circulation to | American steam vessels arriving from foreign countri one-tith of one per cent hag been jollowed by an in+ ge on Now | the exient of more than $40,000,000, 1s redeemable ta | are sudject to the tax. In consideration of the tact th: creased coinage, and prevented, to a considerable exten’ that these bonds shall be paid and the mortgage dise charged before the surrender of inited ‘and tho bonds do not aft. mature aac i York, to aid those engaged in forwarding the cotton crop | United States notes at the option of the holders. this ax was entirely abolished on ail vessels for moro | the export of gold bailion—its vaing for coinage in this | 1885, and are supposed to be distributed among ® tares will be = to tho market, Als bf P| win ‘order that. there may temo misunderstanding asto | than # years and only resorted to as ‘& War measure in | coaniry having thereby beea brought, nearly to ite mint | puuiber of unknown holders, the ditioulty of carrying For clvil expen: The Lxecutive Depertment of the government was | the circumstances under Which the amount between the bed anu that those éngaved in the coasting trade were ped in London, where it is coined without charge. | into effect tl a © provision of Congress may be rea/lily seen. if Congress, Froud authors. tho sper a the reasury, with the consent of the state of Kentucky, to take possession of the canal upon ying, the Hoatin, debts ot the company, purchasing the ive. shares stock and assuming the'payznent of (he bonds secured by the mortgage when matured, with authority to ett Anxious to do everything in its power, under the law, | minimum and the maximum may be issued, and, that it In relieved trom this burden by recent enactments, I and with dae rerard to the protection'gt the Treasury | may not be issued tof the purpose of inflating the paper | Recommend that this tax be wholly abolished. ¢ | and the mamtonance of public credit, to allay the panio | currency of the country, t recommend that it be declared The Aepatenen has found diMiculty tn the administra- | gold. +I recommend the repeal of the charge ior coining and to prevent disaster to the legitimate commercial | a resorve to be iasted’ temporarily when the ordinary | tion of the act of ’ebruary 18, 1/93, relating to the enrol- | gold, and also the charge imposed for copper used tor and industrial interests of the country, but it was tound | demands upon he Treastry shall require tt, and in pay. | ment and license of vessels, with referonce to lie applica, | alloy. as being an inconyentent item 4k estlmating the impossible to ailord the reliet in any of the many forms | ment of such demands and for the redemption ot trac. | tion to canal boatsand similar craft designed tobe chiedy | ‘coinage value of gold. in which that reliet was asked. It was decided, theres | tional currency, the amount so issued to be returned to | employed on the internal waters of states, From a | — With the view to prevent the export of gold coins, an- me further advantages would no doubt follow @ For torelg Adoptign by this country of the tree colnage system ak to For Indians For pension For military For naval éstablish Fer miscetlancous, them at any time previously, a3 ctrouinsiances wor Py SN fore, to adopt the only practicable course which seemed | the resorve as soon as the condition of the Treavury shall | perlot immediately subsequent to the passage of the act | thority should be given for keeping In tho Treasury, | warreut, ove great poseecle ia the way of accompliehing to be open to it—the purchase of bonds for the Sinking | warrant it, and that the purchase of Donds shali be for- own to & comparatively recent date, the department | when ity condition will admit of the same, a supply of | this most desirable result would be removed, ai Totat. Se Fund to sach an extent as*the condition ot the Treasury | bidden so long as the outstanding United states nowes | unitormly held that such boats, exceeding five tons | fine gold bars Lg the ‘mint ‘stamp of fineness, | cost thereof might be distributed over @ period of sev Nh , | would allow, and thus release w considerable amount of | siull exceed the mintinum fixed by the act of February | burden, were lable to be enrolled and licensed, During | weight and value, and for exchanging such, bars foF | years, This will leave ney in the revenues of | “currency irom its vaults, Purchases of bonds were com. | 4,1 +] the term of my immediate predecessor the question was | coin. They would always be preferred to coin for ex While this snbject was nnder consideration a communt+ $13,050,000, menced on the morning of the 20th of September, and L believe that such a reservo, so restricted, would be a | thoroughly considered, the iability to enrolment | port, and gold coins of full weight would be retained in ved from the President of the com| Godcr date t July ts, Ivorming (ie ‘department that “the Louisville aid Portland Canal Company bag been ued in the Louisville Uhancery Court by the Govisees lone! John Campbell, tor nearly allthe land by 00 Wore continued until the 24th, when it became ovident | proper and reasonable protection agninst any continge ESTIMATES FOR FISCAL, YEAR ENDING JUNE 90, 1873, that the umount offering for purchase was increasing to | sics- whereby the revenues of the country might temp Tt is estimated that the receipts for the fiscal yeur end- 1 the power of the Treasary to accept, | rily be diminish ing June 80, 1875, will ber— set, after bonds too amount From custoins and licenko was held'to attach to this clas of vesaols'| the country, instead of boing selected tor export. only when they emerged from the internal waters of a che repeal or modification of that part ‘of tue Coinage |, aud would give no reasonable cause) State into the navigable waters of ihe United States. | act which requires gold coins to be excluded from fe totear permanent indation. As it ought not to be the | But even this modiied view ot their liability has been | beneflt of the halt por cent abrasion limit, unless they h bought, and without the use | business of the bias 3 gall nt to increase and | contested on the ground that such boats are not included | have been in circulation tor certain prescribed periods, jogal ° y the company.” * ‘of any part of the $44,000,000 of United States notes,’gea- | diminish the amount of 1 tender notes trom time to | in the provisions the Furolmeut act. The growth | is recommended, on ihe ground that in the dail: sa0- uit, which is now pending, and is and Froin sales of public lan erally, Poowe as the reserve, sh time, according to the condition ot the money market, | of inland commerce and the — necessities of le | tions of the eusiom houses it cannot be carried into tavelve, no title to all or nearly all Teg ter From internal revenue. it should be stated that in the exettement there were | and for the sole parpose of affecting that market, i think | bave, of late years, led) not only to @ effect. which tho canal runs, has so changed the From tax on national banks. many persons in the erty of New York who insis'ed with | it would be unwieo to authorize the reserve to he issued | iucrease in the ‘number of canal boats, but The subsidiary silver coins veing mannfactured by the | affairs, that I deemed it the part of prudence, ' Feoito seiwavr.: greut earnostuess that At was the duty of the Executive | except ‘or the purposes and in the manpor which Thave | to thelr more frequent egress into navigable waters Governuient on its own neco athe velghiornca ee | dieeetion ontrasted to my judgment,toexpend no. ) Ont SIMRO, SO FOr rsa diercyard any nnd. all Inwa which stood in the way of | suggested, Hence it becomes inore and more for the Interest of the | difference between the bullion and nominal valu otauek towards payicg the debts of the compagy unul oon Hig ate rope ny, her t rding the relief suggested by thein—a proposiiion NATIONAL RANE NOTES, Numerous owners of this species of property to claim en | coin realized by if, Drovision shi be made for redecm- | facts should be laid before Congress for and action thereon. y marcas OF, PORBAS, ‘The soveral reports of the diferent accompany this report—to wit, those Second com Com: loner Ay First, Second, THird, Fou: ‘Treasurer, *, Dies oF Bureau of Stat Solicitor 1 tendent of the Const Survey, ervising Architect and Commi jue, with that of the esjlecttully cgmmende fo the exte| not feeb sttearenigat n bean uated during he” pack peer by ‘ah WinLIAit A, MORARDEON, How, Srrawen ov tax Hours ov ry oh indie tho stave of teeling and the excitement In the general appropriation act tor the fiscal year | tire exemption from the burdens fnposed by the coast- | ing in kind such pieces From miscellaneous sources Imuice whiciapplicagjons were mado to the Secretary of | ending June% 18 the following spectal appropriation | ing laws or Incidental to an enforcement thereat, while | trom fone Mrceis tobe Rhee aye become undaly worn the ‘Treasury to use tho pablic money, and which, itis | is made, in addition to the usual aynual appropriation Vy? eect, has no option but to administer the law. | which, like ours, have adopted the wold standard and Total... *° se + soarcely nevessary to nda, could not be entertained by | for making and issuing the national currency — it is, theref ore, Appor nt that the status of this class of | demonetized silver, It is estimated that tho expenditures for the same pe- | the olticers of the government to whom it was addressed. “For replacing the ,worn and mutilated circulating | vessels shonid be definitely fixed by such legislation as The recent fall in the price of gold, together with the riod will be+ These tacts are recited in order to lay betore Congress, | notes of national king associations, and for eng! ne the case Pt doprecigtion in the market value of silver, as compared A -g4 and place on record in a concise form, exactly what the | and preps FA such mander and on such paper and of Rivers end hart which have Been dredged by the | with gold, which has been ‘oing on for some thne, has for etvil expen Treasury Department was asked to do, and what itdid | such forin and'design as the Secretary of the Treasury ernment great expense aro often made the recep- | enabled the Director to ooin silver, to be paid out instead For toreign int in, the Lite financial crisis. may prescrive, new circulating notes for such assocla- ie of ballast thrown from vessels, by which the chan- | of United States notes to ad: ntage, Availing himselt of For India) ‘The currency paid out of the Treasury for bonds did | tions wo replace notes of a design and Genomination Row | nels become filed and navigation impeded. There is | this opportunity, the Director caused to be purchased as For pensions mech to strengthen many savings banks and to prevent | successful Sountertelted, 000: Provided, That | mach necessity for a law to prevent this practice, mak- | much silver ull For mihtary neluding fortia # panic among their numerous depositors, Who began to | each of said national banking associations shall reim- | ing ita Denal offence to Sepoett, In sae! tons, river and harbor improvements and be alarmed, and had there developed an extended run | burse the Treasury the costs of circulating notestur- | barbors, baltast or otber mati Tore important business of coining gold, and tho same arsenals teens os esvesess ; 60,000,000 | upon those aseral institutions, It would inevitably have | nushed under this provision.” such is lessened, was so comned and paid oat, For naval ostablishmont, inciudlng vossels and caused widespread disaster and distress It also fortified | The operation of this clause must be very limited with. | | The general regulations of thia department, ieued in | During the last few years our subsidiary silver coins machinery aad improvements at navy yards 28,000,000 | other banks and checked the general slarm to some ex- | out further legislation. ‘The making of new plates and | 1867, and partially revised in 1863-9, having Become to | have been gent in coniiderable amounts to Central and For miscellaneous, civil, ineluding public tent. But the loss of confidence in the value of @ great | replacing notes seem to be restricted to those of denomi- | some extent obsolete, and in many reapects deficient, | Sonth America, where it is understood they circulate ag buildings, lighthouses, and collecting tho amount of corporate property which immediately fol- | nations whieh have heen successfally counterieited, aa pore been Gn 4-4 revised and adapted to existing | tull valued coins, It would be better Jor us to manuface reven' tase ‘ + U4,007,144 | towed the tnilure of m4 ing houves connected with | it ia found that the only one that oan be thns considere Ws, special pains bel ng ken to make the arrangement | tare com according to standards and values legally pre- Hor iniexest on tivo public dept. + MOLT TeRRoly MGebied Corporations, the distrust ol the dglvenoy } iv the $10 not Mbhewgh the $4 and $20 notes Bave beea | of topics convenicnt, a toat of the re; ons sim- | scribed by thone couviries ian to eucourage export jon a8 conid be conveniently used in giv. eerunele orl’ ta hon not engaged in tho by which their value ig Cinpioyment to the mints, whe: