The New York Herald Newspaper, December 6, 1876, Page 4

seal year, By the act of July 12, 1876, providing ap- propriat.oas tor tue service of the Most Uitice Depart meut for the Bscal year ending June, 1877, 4 reaue- tion of ten per cent, to take cilect July 1, 1876, was required from the pay of ratiroad companies for corr: ing the mails, At thatdate the cost {most of it adjusted under the provisions of th 173, a portion, however, only extim: 6. A further provided tor by theaect of Jaly certain railroad companies roads were bui whole or in part, by the ald of Jand grants ausnorized by Congressional legislation. The pay of raiiroad companies under coptract (which, Under the opinion of the Assisiagt Attorney Geueral for the Post Oilice Department, were uot afvcted by recent lozisistion) amounted tm the aggregate to $2,495,646, leaving the sum of $7,261,870, Tepresenting, at that date, the pay of the com: pauies uot under contract, ‘The 10 per cent reduc: ion, amounting to $726,187, applied to them, A fur- eduction of $200,714 was wade trom the pay of so that the cost of this service, ct of last July, Was, ou the 1st $76, decreased in the sutn of $936,90L WWHOKAWAL OP FAST MAIL TRAINS, The reduction thus provided for wus met on somo the great truak lines by the withdrawal of the tast mail which had been previously established. Over the the New York Coutral und Hudson River and Lake Shore and Michigan Southeru rauroada @u exclusive mail train, composed of finely PquIpped postal curs, which were provided with ail the couvediences uecessary to rapid and perfect dis puLiON, was, (ora lew months, run between New York wad Chicago, on a schedule time of twenty-six hours between (hose cities; andover the Peansylvama Ka:lroad and is connecting linea @ limited mail trad with Superior accommodations, Was run between Ne Zork, Cincinnati, Indianapolis, and St, Louis; the tine oveupied between New York ahd Cincinpati, via Phila- delpliu, Harrisburg aud Columbus, being (wonty-four boure; between New York and indianapolis, twenty-six hours, aud between New York and St. Louis thirty. three’ hours, ‘These lines allurded facilities tor the transmission ot muils {rom the great commercial centro of the Kast to ull points in tho Westaud Southwest, bitherto uukuows tm the bistory of railway is country, and enavled the expectations of upon them toi were more than real. duet, lb was © railrosd companies at the Organization of Lis expedited distribution system that the rates of pay then provided by existing law were in- sulicieut te compensate then lor tue extraordiuary expeuse Incurred ta running tratus at such a speed, Aud there is good reason to besieve that they olfered their Urains to the department as au experiment, out oF a spirit of ent rprise, rather (ian an expectation of deriving inmediate | profit suerefrom, — Serious emburrassments have resulted from a discon- finuance of these fast lines, which have been Augmented by the retusal of the railroad com- re-establish the incomplete agcommodations je mails ure pow rd aud points ip s despatch and with sinalicr fucilitics for disiributiog than were provided beture the «nauguration of the fust wail system, To be thus compelied tu go backward tn the work of in- iuring speedy transmission and pertect delivery of the limportaut business correspoudence of the country ix A source Of mortilication to ail the officers of this de- partment whose duties ure connected with portation, fustead ot retrograding the mail sy i suck periection as to insure the ers, and all oiler matter not too ortant pot toanother within time requi to convey ayers be- uo othe same points over the speediest lines of communication, The law of Congress Which required a reduction inthe pay of, rairoad companies lor carrying the mail also authorized the Uppointinent of a camunssion of three skilled and ci lent persous 10 lnvestigute the whoie sugject of Bail Srausporiation by ratiroud, with a view to mak- ing their Feport the basis of future legislation, The three gentlemen designated by you for that mission ed on their work about the Ist of last Aug which lime they have Visited all the large citie aportant railroad centres of the United Statex, Jcouterred witn the managers of the leading rail- «1 lines, and aisy with intelligent nen representing the main business interests at eack point They seem fe been patient and impartial tu collecting in- formation, which will, no doubt, throw much light on Ibe diiticult question of determining the proper mode bf compensating railroad companies for carrying the Yiuils and the rates of pay whieh ought to be fixed tor this service, 1 uave carofully avoided any expression of opinion, We presentation of any theory or the tender of uny vice which could, 10 the most remote manuer, intiue doce the judgment of this commission; but I cab now, with Chlire propriety, recommend that whatever logis: lation may result Irom their investigations shall dea- aitoly preseribe fix’ d rates of mail pay fur tis service, leaving nothing open to the discretion of the Post- master General; and that tho execution of written contracts by railroad companies shall be required as a condition of payment for the service which they per- form. Leas than oue-tifth of the railroad service of the country has been, neral rule, covered by written contracts, and innumerable complaints, miscoostruc- trons and diitculties have grown out of this loose way, of doing a business which annually amounts to muill- lons of dollars. POSTAL DEFICIENCIES, A very gratifying resuit is presented in the fact that the deticicucy of Unis department during the last tiacal veur Was reduced to $4,081,790, as agulnst $1,109,938 of Preceding year. 11 will be instructive to stuuy the in the percentage of increase and decrease in the receipts, expenditures and deticieneles of the postal the last seven years, Its ordinary reve- advauced beyond 1s expenses, as will moro tly appear from the figures given below:— The vrdinary receipts tor the year ended June 30, 187 8,644,197; for the Year ended June 30, ted to $18,344,510; showing an in- ts cn that in seven years the receipts 56.14 per cent, or at uo average ol over year, For the sume years the expendi- s jollows:--For the year ending June 30, 03,457, for the year ending June 30, 1869, Showing an merease of $9,505,356, in the expenditures for the entire 38 per cent, or ai an average rate of about 0 per cent per yur, For thesame years the de- ficiency in che revenues were as foliows:—For the Fear ending Jane 30, 1876, $4,619,290; for the year ending June BO, 18 353,620, showing a de teeny of 330, The decrease of de: 71 per cent, or wt an average rate of nearly 2 per cout per annom. JAMES N. TYNER, Postmaster General. THE CASE OF MRS. BURKE, New York, Dec. 5, 1876, To tax Eptror ov tHe eratp In an obituary notice of the late Mrs. Virginia C. Burke which appeared in the Heap of yesterday there is a gross misrepresentation of facts which does me great injustice. 1m that and other notices of this Matter your reporters have persistently sought to im- press the public mind—First, that I had volunteered Yo try said case and contracted to do it without charg: vecond, that I had drawn the money that was in the irust company without her kuowledge and against ber consent; third, that I had paid over to her no part of Nand was seeking to make her pay me still more, Now, what are the facts. When Mrs Burke applied to me to become her counsel we were utter strangers, The lady who introduced us did so not at my request, out at the special instance of Mrs. Burke, who stated that she wished to retain me in this cuse, This same lady when introduced as a witness by Sirs, Burke before the referce did not only testfy to this fact, but further stated that she heard the conversa hou that took place when we were introduced, and that a distinet and clear understanding was bad that if successful I was to be well pwid, but that Il was to re. ceive no compensation 1! not successful, The truth is, Mrs, Burke had made a persoual appeal to over thirty ofthe teading jawyers of this Bar to take her ca: spon those conditions, and bad been able to tind not one willing to do 14. Ste represented to mo this tact and the further facia that sue was from the South and poor, and, i view of all the circumstances, I did agree io try her cause gratuitously if unsuce What foliowed? 1 was iour year in her servie times called out of the State to tuke ‘depositior im her case. during which time my office had to be closed, for 1 had no partner. 1 gave ber about 200 consultations, oi from one to our hours each, 1 did about iuree Weeks hard labor on the preparation of about fitty wilidavits to secure an orver of arrest. 1 then gave weeks and months of uiue bo the mastery of every fact and every jwgal principio volved in the case. 1 then went into court and stood on my te Warough three long and laborious weeks trying sause, amd was eventually rewarded with a verdict for 60,000, Of that sum I cvilected trom the Union trust Company, under an order over her eigaa- Wore, $10,000, ‘bait of which I paid to ne the first justaut 1 saw her after 1 had collected 1, and then when | tound that her estimate of the value of Ny Services was neither liberal or just, 1 ofered im the presence of her own cousin to periit her to select any reputable iawyer in the city she might preier, and submit to hits a Statement of my services and abide by whatever decision he wight make as to their Falue. This she declined, abd moved tor a substitution, which Recessitated a rotere 1 asked her cou 0 select mw reputab. ‘orney 10 Whom to refer the matter. He dig it, The reference was had. Sho put in ail her testimouy, while I reserved three-fourths mine, yet the report of that reterce, chesen by her own couuscl, sustained my conduct throughout upon the teutimouy of ber witnesses, He heard both aides and sustained me, The reporters hear only one side aud assailme. Is it just? I donot with to stoop to quarrel with cither a client or a client's iriends in the , but these malignant assaults are calculated to © my protessional reputation, wirich 1 prize abo’ ice, and } must ask you to publish this rep! that liberal mindea men may know that these unjust Charges are sustained by not a single shadow of truth, Bespectiully, ANDREW H. H. DAWSON, COLLUM BY ANY OTHER NAME. hyar ait Thomas Collum, of No. 22 Stanton street, who said he was pight manager of a branch office of the Ameri- tan District Telegraph Company, was arraigned belore Justice Kasmire at the Washington Piace Police Court pitteriay morning, charged by Mies Minnie surch, of jo. 44 South Washington square, with insulting by addreesing her in the Bowery un Mouday evenin; Held tu $590 bail ” me 4 NEw YORK HERALD, WED THE TREASURY. p BES ey ve DEBT REDUCTION. Secretary Morri!l’s Ideas on Specie Re- sumption and Refunding the Debt. COINAGE AND CURRENCY. Internal Revenue and Collections on Imports of Merchandise. ‘The report of the Secretary of the Treasury, which was presented to Congress yesterday, begins with a statement of the receipts and expenditures for the fixeal year ending June 30, 1876, ua follows:— From customs..... From juterual revenue From sales of public lands, ot From tax on circulation and deposits of national banks... Frou repayment of 1 way companies From customs? ti 4 1,026,346 190,160 sof Indian trust lan —cousuiar, letters patent and From proceeds of sales of government prop- erty Hii ( From marine hospital tax “ . Frow steamboat tees, From profits ou comage, 4 From tax on seal skins. From imizcelianeous sou! Total ordinary receipts, Premium on sales of coin. ‘Total net receipts, exclusive of loans... . $287,482, 4 Proceeds of bonds of L551, Geneva award. 6,01. ‘Total net reccipts..... eee eens $204,095,805 Balance in Treasury June 80, 1975, including deposits of coin und United Stutes notes represunted by cerulicates outstanding. . 144,702,416 $439, 798,281 $17,282,248 au ye ‘Total available casb. EXPRNDITCRES. For eivil expense: Yor foreign intercourse, For ludians. see 5,966, 558 For pensions mu 1 28)257,395 For wilitary establishinent, including tortill- catiuas, river aud Lurbor improvements and arsenals,.... eeeeeeees 38,070,888 For naval establishment, including vessels and machinery and improvements at wavy yaras. . 18,963,309 For mis ig public butidings, Nghthouses and collecting the TOVCUUES «6. eee sess » 48,315,872 For interest on the public debt, including interest on bonds issued to Pacitic railway COM PANS... 6 seers eereeeee 100,243,271 ‘Total net expendatures...........2...05 $269,450, 797 Redemption of the public debt $51,889, 464 Judgments of Court of Ala- 6,641,287 vuma Clains. Total net disburserrent: Balunce in Treasury Junc 30, Total ...... ‘This statement shows that the net revenue: for the tiscal year were... $287,482,039 Abd that the net expenditur + + 258,459, 797 Leaving a surplus revenue, exclusive of pro- Vision for the sinking fund, of, «$29,022, 241 lo the last aunual report th 'y estimated that the revenues tor this year would be $207,456, 145, aud the expenditure 8,447,543, show- ing a surplus revenue of $29,008,601, By ‘the state- ment Of uctual receipts and expenditures for this tiscal your it will be seen that the revenues yielded $2S7,482,039, or $9,974,105 less than the estimate, and that the wet expenses amounted to $268,459, 797, or $9, 087,746 loss Lan was anticipated, exhibiting a sur- plus revenue of $29,022,241, or $18,640 1 excess of the estimates, ‘THE CURRENT VISCAL YEAR. ‘The receipts aud expenditures for the fiscal yoar which will end June 30, 1877, are thus stated ;— ExcKOTs, = ‘Tho receipts during the tirst quarter were:— From customs. «$37,554,728 From taternal revenue . + 28,813,336 From sales of public lands 262/005 From tax v2 circulation, banks. From repay: ke. of national 3,534,707 way: 97,902 From customs’ ebke + 17,095 From consular, patent and other toes ...... 425,684 Frow proceeds of sules of government prop- 875 From miscellaneous sources, . see 2,123,009 Net ordinary receipts..... + $72,901,005 Premium va sates of coin . 119,518 ‘Total. $73,110,524 Vroceed: . 2,403,445 Total vet ordinary receipts... + $75,513,070 Balance in Treasury June 30, 1576. - 121,807,732 Total availab: sv esseeeeee$197,821, 702 PAYMENTS. The expenditures during the same period were:— For civil and miscellaucous expenses, in cluding public buildings, lighthouses and collecting the reven For Indians, 5 = $15,93 4 nelading fortiil- improvements “si eo 9,715,661 For naval establishment, including vessels und machinery aud improvements at navy yards... 6,174,358 ft cu the public debs, inelading Pacitic Railway bonds, seve 87,107,550 Total ordinary expenditures Redemption of the public debt. Judgmeais of Court of Alabau: Claims. ... Total quarter's expenditures........... $34, Balance in the Treasury, September 80, 1876. 112,59 ‘Total. For the remainiwg that the receipts will be From custom te From internal revenue, From sale cf public land From tax on national banks From reimbursement by Pacilic railway: From customs fines, peualties aud fertures, % From consular, patent an From proceuds of » miuw vB coin, Total net receipts . secceee $191,181,925 For the sume period tt Js estigimted that the expend- itures will be:— For civil and miseellaneoas, including pub- For naval e#tavishmeut, - For smterest on the public dobu ‘Total ordinary expenditures, . year will yield the sum of § wditures will amount to $ leave a surplus revenue of $:36,603,006 The sinount which showld be applied to 4 fund is ostimaied at $35,705,908. Tue surplus revenues will tall below thy nthe vpinwn of the de- partment, by not leas than $7,042, 110, KSTIMATES YOR THE FISCAL YRAK ¥XDING JUDE 30, 187. It 18 estimated that the receipts tor the fiscal year ending June 30, 1878, will ve:— From customs. r From reimbursement of interest by Vaciic companies... From customs fines, peuulties and ‘Total ordinary recetpt + +++ $270, 060,000 It is ostimated that the ordinary expenditures tor the sume period wii! be:— For civil expenses... For toreigu For lodia For yension For military ew t, ie Fiver und harbor snprove- ‘senal For waval establishment, including easels rey) and machinery and improvements at 16,900,000 enues, mail steamship sorvice, deficiency in postal reweoues, public printing, &e. 42,000,000 For interest on the public dent, 94,396, 204 J $77,410 For interost on Pacific Railway bonds, Total estimate 1 expenditures, exclusive of the sinking fund accountand principal of ihe public debt......++ «$243,350, 71 Upon tie basis of these there will be a surpius revenue for the fiscal year 1878, applicable to the sinking fund, of $26,699,206. The estimated amount required by law to be set apart for that fund is $55,391,096, 11, therelore, ibese estimates shall prove to be approximately correct there will be a deficiency tn this secount of $8,691,809. The estimates received from the several executive departments are as follow: Legislative establishment, Executive establishment, Judieral establishment..... Fore intercourse Military establishinent Naval estabnshment. $2,948, 722 15,009,199 Department of Agriculture... Vepurtment of Justice... Postal service,.... Miscellaneous, .. Permanent ap sys Tt 10), (including rations $35,391,096 for Sinking 1UNd).....++00 +... 146,506, pra Total Interest aue nnd unpaid, and acer Werest LO MALO. ...ceceeeeeee Tota! dobdt.... Cash in Treasury Debt, less cash in Treasury... Principal of the debt July 1, 1870. ....... Interest due and unpaid, aud accrued in soreet to date, + $2,128, 68s, , 180,395, 007 Total debt.... ‘Cash in the Tre Debt, less cash in the Treasury... Showing a reduction, as above stated, of, THR SINKING PUND. By the act of February 25, 1862, it was provided that after tho 1st day of July, 1862, one per cent of the entire debt of the United States should be purchased or paid within each tscal year, to be get apart asa sinking 1und; algo that the interest on said fund should in like manner be applied to the purchase or payrocnt of the debt. The sixth section of the actof July 14, 1870, algo required that, in addition to other amounts to be appliod to the redemption or payment of the pub- Ne dept, an amount equal to the interest on all bonds belonging to the aforesaid siuking fund should be applied to the payment of the pubhe debt Until August 31, 1865, the ce- mands upon the ‘Treasury for expenses incident to the war were greatly in excoss of the revenues of the government, and therefore there was uo surplus income which could be applied to the extinguishment of the debt or the creation of a sinking lund, and con. wequently the law providicg for that fund was during that period necessarily reudered inoperative. ii the resources of tbe Treasury during cach tiscal year, com. Biencipg with July, 1862, had been sufficient w bave miade u literal compliance with the conditions of the jaw practicable, the account would at the close of tne last tiscal year have appeared upon the books of the departinent as follows Amount for fiscal ye: ae $5,556,269 Amount tor figcal + 12,184,090 Amount for fiscal yeur 1865, Amount for fiscal year 1866, Amount ior tiscal yeur 186; Amount for fiscal yeur 1868. . ‘Amount for sca! 3 Amount for fis ‘Atuount for tiscal year 187 Amount for fiscal year 187: Amount for fiseal year 187; Amount tor seul year 187. Atount for Oscal year 187; Amount tor fiseal year 1876, 40,681,331 Total reduction required by law. $433,843, 215 Ou the Sst ol August, 18a the jebt us repre. ented upon the bocks of the department, and shown y the pubic dobs statement, reached its bigbest point, viz obi, less bonds issued to tho various Paciic Ratiroad companies, and less cash in the Treasury... «$2,756,431, 571 On June 89, 1876, the debt, including ace crucd interest, less bonds issued to the Vacilic Railroad compames, und 1e8s cash in the Treasury, Was......ccee00 2,090,439,344 Actua! reduction of the debt........ $658, 992,226 REFUNDING THE NATIONAL D! On the 24th of August, 1876, the Sceretary enterod into « contract With Messrs. August Beimont & Co., on benalt of Messrs. N. M. Rothechild & Sons, and usso- Giutes, und Messrs. J. & W. Seligman & Co,, tor thom- selves uud associates, and Messrs. Drexel, Morgen & Co., on behalt of Messrs. J. 5. Morgau & Co., aud Messr#, Morton, Bliss & Co, for themselves und usso- ciates, for the negotiation of $40,000,000 of the tour and ove-halt per cent bonds, authorized by the acts of July 14, 1870, and January 20, 1871, the coutracting parties to have the clusive right to subscribe tor the remainder, ramely, $260,000,000, or any portion thereol, of the said four und one-half per cent bonds, authorized by tho aforesaid acts, by notilying the Secretary on or before the 30th day ot June, 1877, the Secretary rescrving the right to terminate the contract at any time after March 4, 1877, by giving ten day notice thercof to the con- tractors. The agreeinent provides thut the secretary 1s to allow the partics named one-halt of one per cont commission upon the amount they may take, they to assume and defray all expenses which may be incurred in preparing, printing, transporting, and tssuing said four and one-balf percent bonds, and for transmit ting to the Treasury Department, Washington, D. C. coin, United States five-twenty bonds, matured United States coin coupons received in payment tor the four and one-half per cent bonds issued, or which may bo issued, to the contractors; and the Secretary agreed to issuo notices for tne redemption of an equal amount of six per cent five-twenty bonds of the United States, upon the dates of subscription by the contracting parties ior four and one- half per cent vonds, a8 provided by the act of July 14 1870. The subscribers ugree to pay for said four and alt per cont bonds, par and accrued interest, in gold coin, matured United States coin coupons, six per ceat five-twenty bonds or United Statcs gold ceriitl- cates, Against the subscriptions of the contracting parties for four and one-half per cent bonds the toi- Jowmg described notices for the redemption of United States five-twenty bonds, aet March 4, 1865, nave becn issued, Vie -— Call dated September 1, 1876. Call dated September 6, 1876, Cult dated Seprem ber 12, 1876, Call dated September 21, 1876, Cull dated October 6, 18 Total. 50,000,000 Issues to the extent of $35,674,550 of four-and-a-half per cent bonds have been made, and retunding opera- ions are stilt in progress. KESUMUTION OF SPECIE PAYMENTS, In March, 1869, by an act entitled “An act to strengthen the public credit,’ tho faith of the United States was or its equ States, not b solemuly pledged to the payment in cuin ent of uli the obligatiol f the United ‘ing tuterest, known as United Stat notes, and of all the interest bearing obligations of 1 United States,” and, further, ‘to make provision, at the earliest practicable period, for the redemption of the United States notes in coin,” By the act of Japuary, 1875, Congress declared the purpose of resumpltiou of specio payments on January 1, 1879, and to that end, and in execution of the pledge of the act of 1869, provided jor the redemption of the United States noter, and ior the issue of uational bank notes in eu thereof, and thus, amia confheung theories, declared, in effect, a monetary system con bined of com and national bank notes redeemable in com at the demand of the holdor, in barmony with the pony and the traditional policy of the American people. ‘The Secretary discusses at some length the question of resumption, holding it a national duty, and proceeds to consider the adequacy of the provisions of the measure for resumption im 1870 to ac. complish its objec. As a further provision deemed essential to the purpose of resump- Yon, 11 is recommended that, 1m addition to the autho- rity of the Secretary of the Treasury already cun- ferred, to provide for redemption of tender not uy aud after the day provided tur resumption, by the Accumulation of uz adequate amount ot gold’ to meet the voiutaw of $300, 000,000 of legal tender notes, which will theo be outstanding, by the sale of United States bonds, authority be given to be realized. Lt 18. believed that tbe larger portion vf them will at that time re- Main outstanding. It will be observed that, in con- tempiation of the act, the Secretwry ts limited in the fesue of silver evin by the sum of fractional currency to be redeemed by tt and @ reduction of the legal ten- ders to the amount in cxcess of Besides this he iw required to quate preparation and provision redemption, in coin, of legal tender notes outstanding i the prescribed peried of resumption. 1 is apparent that the silver coin may Le substituted for the frac- tiouwl currency und the gold coin im I, while there is little probability of reuring the entire amount of legal tend ig excess of the $30u,000,000. It will he observed that it 1# incumbent on the Secretary to prepare to provide tor the redemption of all legal touder notes which toay bo presentea on and after that date, and that the means at his command, to ¥ tt, are ‘the surplus revenues existing at tl me nob otherwise appropriated, and the proceeds of the issu saic, and disposal of certain descriptions of Unit bonds ut par in coin to tho extent necessary to carry Unis act into oflect. This involves the necessity ot the accumulation of com to the amount of wu for redemption of these notes on U yy day therealter, There will likely be time not leas than $300,000,000 outstanding, and ay that probably no inconsiderable amount in excess of that sum. Here, it will be seen, is an imperative requirement of the Secretary to redeem in coin, on a given day, the legal tender notes amounting to $300,000,000, and it authority to prepare and provide for it, He may United States bonds to obtain the needful coin to extent oecessary to carry this act juily into effect. ct contemplates tho accumulation of the neodful ainst the day of resumption, but, as wary fy jay te determinate only at the option of the holders of the notes to be Tedeemed, the amount to be provided for is neces sarily uncertain, and, as it will depend upon events or a condition of things over which he has little or no coatrol, im} ible tor bim to determine, He is authorized, if in bis juagment doomed necossary to carry the act into effect, 10 accumulate an amount of gold equal to the entire amount of the legal venders outstanding on thas day this, if 16 were not mor- ally impvssible, would expedient, as a financial ESDAY, DECEMBER 6, 1876—QUADRUPLE SHEET. ] measure, that it is not to be presumed to have been | contemplated by Congress, and so nos imeumbent oo | the Seeretary. Still be i expected and required | to meet the demand of mpuou by the ac- cumulation of com adequate in amount, at his dis- cretion, with no certain data for bis guidance in the exercise of it, What is essential for bim to know in order to the egret ance of the duty | what amount of notes will certainly be presented fi redemption on the lat of January, 18 is clearly not attainable be 1s left to deal with what is probable, determinable upon the condition of such general ‘causes ax will be likely to atiend that event. It would net be difficuls in the present state of ~— monetary ~— affairs, to make a proosble estimate of the amount required if the redemptiwo etotake place in January pext, and it is probable that accumulation of an amount of coin equal to a moicty of the sum total of these notes would be an ample preparation; but while itis to be hoped that the credit of our bonds way not be less in 1879, it may not be known that in other respects th situation will favor such result, It is, howew deemed provable in aby supposuble condition of moue- tary allairs, that, if no inconsiderable reduction of the volume of ‘these notes should be made tp anticipation Of the redemption of 1879, the preparation required by accumulutivn of com for the demands of January. 1879, and immediately therealier, must be at least an equal proportion of tu total of the notes out- standing. to uh hues as & INeasure Of redemption, such 1s the present sud probable future of these revenues and the demands upon them, that it is not deemed at ail probuble that aby considerable sum hot vtherwise appropriated could be devoted to this end, Ip this connection, however, it is proper to ob- serve that pow, ior the first time in many years, owing to the large reduction of currency payments, the sales of gold to obtain tho equivalent currency therefor are bo longer necessary, and thus 4 consid- erable accumulation of gold may ‘be anticipated trom the surplus Irom the customs revenue. By the act of January 14, 1874, tne limitation upon the issuc of national bank nutes was repeaied, aud the volume of currency left to be determined by the business demands of the country. Tne Secretury of the Treasury was re. quired to retire of legal tender notes cighty per cent of the sum of national bank notes then issued tn excess of $300,000,000, The umount of additional currency issued’ since the passage of this act 1s $18,080,355, and legal tender notes to the amount of $14,464,282 have been retired, By the uct of June 24, 1874, rational banks might withdraw their circulation in whole or in part by depositing Jawiul money with the Treasurer, and with- Graw a proportional amount of the bonds, ‘und it was made the duty of the Secretary to retire iegal tender notes to the oxtent of eighty per cent of the bank notes thereafier issued. Under this act $52,853,560 of Jegal tender notes buve been deposited in the Treasurys, and $37,122,069 of bank notes accordingly have been redeemed and destroyed. ‘Tho amount of legal tender notes outstanding No- vember 1, 1876, was $307,039,716 ‘Tbe amount of said notes on deposit for the purpose of returing circu- lation was $20,910,046, The amount o! national baok notes in circulation om that day was $29,143,464 loss, and of legal tender $14,464,284 lese, than on Januxry 14, 1815—a total decrease io circuistion, uuder the operation of the act, of $43,007,748. ‘From these facts, ag well as from tho large accumu- lations of money at the money centres and the lack of demand for it, it 18 apparent that tho volume of cur- rency is largely in excess of the real demands of Jegitimate busine: 1d thate portion of the legal tenders might be gradually withdrawa without em- Darragsment to tho business of the country, In the in f permaneut redemption, and as a means of matntaining the sume, it is deemed important also, if not quite indispensable, that provision should be made requiring the national banks to graduaily pro- vide coin in such ratio as the Secretary of the Troasury may direct, aud to hold the same asa partof their Jegal money reserve, so that said reserve, on the let day of January, 1879, shall be equal ic umount to the eutire reserve required by law. To the same end, as the fractional currency is withdrawn, ity deemed ex- pedient that not only the vacuum caused ther®by in the matter of change should be made good, but that, uf additional change, the volume of silver sbould be increased to the amount of at lvast $80,000,000, and silvor made u legal tendor to the amount of $10 in all cases, except the obligations of the government of the United states and the customs dues. PAYMENT OF GOVERNMENT OBLIGATIONS IX Colm. The roport of the Director of the Mint shows that, notwithstanding the silver dollar creates in law, prior to April 1, 1873, the position of an unlimited legal ten. der, gold has for many years past been the moncy of comparatively small sum in silver dollar pieces was ever coived, and that it at no timo constituted ao appreciable part of the circulation, ‘This was due to the tact that silver was more valuable as builion than its stamped or legal tender valuo in the form of dollars, Since the fall of silver propo: for the revival of the silver dollar have been made, the position which it would occupy with reference to unexpired comm obligations, suould its coinage with un- Himitea tender be again authcrized, bas been the sub- Ject of considerable discusmon, ‘he question whether the pledged faith of the od Stutes to pay its obligations in coin would jus- y payment inthe silver dollar is of no small importauce-as effecting public securities of the United States. In any discussion of the question it must bo cunceded in the outset that the silver dollar was a untt of value, having the quality of legal tender for all sums and in all cases, aud that the terms of the United tates obligations do nut exciude payment therein, and that the act of 1869, in whieh is the piedge of payment in coip, does not, in terms, discriminate against silver, These provisions are broad cnough, 1c terms, to include payment iu either gold or silver, and compels an inquiry into the history, production, issue and subsequent treatment of tuese odligations, and the rolative con:iition of goid and silver coin as muney of payment, in order to a correct interpretation of the meaning of the language “payment to be made in coin.” Not long after the close of the civil war, which gave rise to these obligations, doubts arose’as to the kind of money in whieh these securities wore payable, and which led to the passage of the act of 1860, eptiticad “An act to strengthen the public crodit;” and it was intended ig lvoe all eeoriea - iyrteo as to aoe purpose of the government upon the ques! nd by inch the faith of the United States was the payment in coin of all its obligatio pressly otherwise provided for, This leg: wasin harmony with that of the executive adminis- tration. What, then, was intended, and unaerstood to be intended, by this pledge of the government? Was it that the public sceurities were to bo paid in gold eoin, or ip stiver, or might be in other? It will not be questioned by any one conversant with thi © that the popular impression, ‘genoral conviction, was that the plage was for payment in gold. This belief may have ob- tained from tho fact that the interest on this class of obligations, payable in coin, bad uniformly been paid in gold, tbat the customs receipts had been set apart ‘vo this end, and that these were paid in gold, and that the silver dollar had, as money of payment, therevo- fore gone into genera! disuse, especially im all large trunsactions, and could scarcely be considered us contemplated in apy measure having for its object to provide for payment of suns so ample us the interest op the public debt, at t to im of $130,000,000, Th ceives uo inconsiderable support also in the of Cougreas in 1873, by which the legal tend of the silver coin wus limited to $5. By for Jaws of trade, quite independent of those of Congress, the legal tender silver dollar had actually disappeared irom circulation as money, and, although not abolished by act of Congress, it did ‘not, aw matter of fact, exist for commercial purposes and did not eater into moucy payments, The object aod intent of the act of 1873 was cuntessediy to give to gold the precedence in the statutes of the country it-held ia the commercial world practically, and to declare the gold dollar tu law to be ‘what it was in inct, the representative of the money unit. Gold had for many years been treated as the principal money of coin payments tu legislation and in She transactions of the Treasury Departiwent, By vhe act of 1863 the Treasury was authorized to receive deposits of gold and builion, and to issue cer- Uidgates therefor redeemable in gold coin, thus indica. Ung that its obligations calied for payment tn gold, and notin silver. ‘I'bis provision, 1t will be seen, 18 in cun- sonance with the fact that our foreign exchanges tor many yoars have been nade upon the gold basis, and thus it is apparont that the general unuerstanding hi Yeare, lor the consider |, has the money of coin payments was gold, and un obliga- tion to pay in coin required payment in gold ovin. As was contemplateu by C the policy de- clared in 1869, the public securities ¥ dopressed Jmmediately rose to par in gold, and have since wuin- tained an enviable position xt the money centres of the world. Tho five-twenty #.x per cent bonds, then seliing at cighty-erght cents on the dollar, soun rose ‘to par in yoid coin, and bave since borne the averace premutum of five percent at home and abroad, At the present time the borrowing power of the govern- ment js som cent, time, are readily takeu at par in premium og less than four and one-half per Its four and one-balr per cent bonds, on suort old, and Sold at a this country and in Burupe. It no dis- enters {nto var present monetary system, 1g the present policy ol the goveroment, 46 te believed that 1t will Le found practicable, at no re- mote portod, to fund the national debt into a four per cout boud baving from thirty to Gilty years to run, and this at an anodai saving iw the interest of the public debt of $25,800,000 which, if inves ma sinking tund at four per cent avnually, would pay off the present national funded debt ina fraction over thirty years, It ts a matter of deep public conceru thut a policy 80 beneficent in results and wdvantagoous to the futnre ould receive no detrimeut from conflicting interests, policies or theories. the right to pay these public securities in cu money, it will remain true that it is lawiul to pay jd con, that t! veliet that they we id bug a practical value in tl of tho public debt equal to one fourth of the amount of the annual interest thereou. It is respectiully submitted that the coin payment to which the faith of the nation was pledged in 1869 was gold and bot silver, and that any other view of i, whatever technical constraction the language may ve susceptible of, would be regarded a8 of dulibttul good faith and its probuble effect prejudicial to the public credit. IS8UR OF SILVER CoLX. Immediately upou the passage of the act of April 17, 1876, the department, through its several indepeudeat Treasury offices, bean to issue, in redemption of the outstanding fractional currency, the subsidiary silver which beon comed under the authority of the Re- sumption act of January 14, 1875 ‘Vo further relieve id the pressing det oughout the country tor money Ot sinall denominations the silver coin in the Treasury us to tbe passage of the act above meutione rev ino was ued in payment of currency obligations of the government, Under tho authority for the fasuo of silver coin granted by the act of July 22, 1876, the department, in addition to redeommyg fractional curreacy when- ever presented for that purpose, bas also iesued silver coin in exchange for logal tender noies as rapidly as the coiuage at the mints would pormit, From date first mentioned, to and including Oc- ober 30, 1878, thore hus bees issued of silver evin. os above ‘stated, $22,096,712, of which amount there bas been issued tor fractioual currency redeemed and destroyed, $12,953,259, ‘The demand tor silver coin for circulation, though growing i Capacity of the mints to supply it. shall have ceased the coimage will be continued pada practicable to the limit authorized by Ww CURRENCY REDEMPTION. Owing to the extaustion of the appropriation for transportation of ed States notes and securities, the express charges ot legal tender and fractional Doses sent to iis departinent for redewption, aud the relurns theretor, have not been paid by the govern- ment since the Ist of Marco last, In consequence, the redemption of such votes has greatly uecreased and the paper currency of the government is rapidty be- coming unfit for circulation, An appropriation suit- cieut to meet the payment of such express chafges 18 earnestly recommended. THE NATIONAL DANKS. The report of the Comptroller of tbe Currency is re- ferred to as containing {ull statistics of the reserve taxation, dividend: banks, togetber with a summary of their resources and labiltties for each year siuce the operation, From this report it appears that up tu Oc- tober 2 of the present year 2,342 banks tn ull bad been organized, of Which 2.087 were in operation at that ory The returns of these bunks shaw that they thea anding, $291, 0; loans, $9.27 x specie (including coin certilicates), $21,360,767; legal tender notes (including United States certificates of deposit), $113,420,847; redemption fand with the United States Treasurer, $16,743,699. The act of June 20, 1874, authorized national rbanks which desired to withdraw their cireniating notes, in whole or im part, to deposit lawful money with the ‘Treasurer of the United Stutes 10 sums of not less than $4,000, and to withdraw a proportioval amount of the bonds pledged as security for ther notes. The uct of January 14, 1875, repealed all pro- visions of luw limitmg the aggregate amount of national bank circulation, and made it the duty of the Secretary of the Treasury to retire legal teuder notes to the extent of eighty per cent: of the #um of national bank notes thoreufter issued, until the amount of legal tender notes outstanding should be reduced to $30u, 000, 000. Since =the passage of tho Act, $52,853,560 of legal tender notes have veon deposited in the ‘Treasury for tke purpose ot retiring circwiation, and $37,122,009 of bank notes have been redeemed and desiroyed. The whoie ainount of additional circulation i since the paz Sage of the latter act 1s $18,030,355, and legal tender Botes equa! to ei lty per cont thercol, or $14,464,284, have been retired, leaving the amount of lezul tender notes outstanding on November 1, 1876, $307,585, 716. The amount of legal tender uotes on deposit with the Treasurer on November 1 tor the purpose of retiring circulation was $20,910,936, The umount of national bank notes iu circulation on November 1 was $29,143,464 less than ou Juno 20, 1874, und that of legal tender notes was $14,464,254 less than on January 14, 1875; the total decrease of legal tonder notes and national bank notes, unaer the operation of these acts, being $43,607, 748. These tables exhibit the growth of banking In this country since 1811, wud stow tbe total bank capital, atthe present time, to be not less than $70,000,000, and the total bunk deposiis to be not less than $1,974,000, 000, ‘The atnount of additional circulation issued from January 14, 1875, to November 1, 1875, was $10,986,675, Tho amount issucd during tue tho year ending November 1, 1876, was $7,093,680 making total, (rom January 14, 1875, to November 1876 (ono year and mine and a months), of $18,080,355." Of this amount, $7,313,210 was issued to 129 banks organized during that period, with an aggre- pate capital of $14,035,000, Tho remaining circuletion, ounting to $10,767,105, way issued to banks pre- viously organized, The amount of legal tender notes retired undor the operation of the act of January ld, 1875, was $14,464,284. The net docrease in the amount ot national taak notes trom June 20, 1874, to Novem- er 1, 1875, was $29,143,464; and the amount on de- posit with the Treasurer, for the purpose of retiring circulation on November 1, 1876, was $20,910,948, The lurge reduction in bavk circulation may be attributed to a desire to realize the premium upon the bonds at thor present high vatue m the market, the margin between the circulation and the bonds being carried to profit account aod used cithor ip loans of other investments, or for charging off losses or paying dividends, {[f the market valuo of United States bond: ould remmain unchanged 11 1s not prob- able that tho amount of additional circulation to bo issued irom November 1, 1876, to January 1, 1879 (two ears ard two months), would exceed $1! 000, if however, there should be a material decline in the valuo of bonds it is to be presumed that &@ considerable amount thereof would be redepos- ited by the banks which have withdrawn bonds amounting to $65,102,800 since June 20, 1874 Ti profit on circulation depends upon the price paia for the bonds and upon the rato of interest. If the busi- ness of the country should re or the value of he amount of eirculation must te largely increi The profit on circulation 1s es! mated at about two and a quarter percent. In localities where the rate of inturest is seven per cent tho valuc of circulation is about two and a hall per cent; whero the rate 1s ten per cent the profit {s about ono and a halt per cent, at the present valuation of the bonds, COINAGE. The deposits of gold at the mints and assay offices amount to $57,480,270; sliver deposits and purchase: $28,515,702 ‘Total atnount of bustiun received an operated upon, $85,995,972 Deducting redepoaits of bars made and issued by one institution und deposited unother, tho depoyits were:—Gold, $41,943,285; silver, $24,574,551, making a total of $66,517,837, The total gold coinage was $38,178,962 Total silver Coinage, $19,128,502, of which $6,132,050 were of trade dotlars, The minor coimage amounted to $260,350, Tho total number of pieces struck was 87,101,463, Total value of coinage, $57,565,815. DUTIKS OX IMPORTS, The receipts from customs for the year ending June 60, 1875, were $157, 17,722, and at the corresponding date of 1876 they were $148,071,934, a dochiue of $9,095,737, The pts for the rst quarter of the carrey tape y ms i aloes Hed while & the oe responding period o| year they were $44,233, 621 showing a Teton Gf $6,678,897. isekeahs For the montos of October and November, 1876, the receipts were $2'',247,' and for the samo months of last year were $23,936, About three-fourths of the revenue from customs is collected at the port of Now York, aod the Mtiyation arising therefrom has so crowded the docketa of the courts in the Southern district of that State that groat delay in the decision of tari? questions has unavoid- ably arisen, Suits are brought tor the reversal of do- cisions of the department, pending which importers are subjected to the payment, under protest, of aunties wich, after yeurs of litigation, may ap} to have been wrongtully assessed, In tbis way syits Multiphed and trade is subjected to uncertaint and losses which a specdy final decision migut obviate, Two methods cot obviatmg such de- Jays are suggested. The first is the organization ot @ court of arbitration, such as is connecied with the Chamber of Commerce of New York, with or with- out the power to render final judgment, as might bo thought best, The sccoud isthe cetablisiment of « Fevenue court in the Southern district of New York, exclusively tor the trial of customs revenue cases, anul- ogous to the Cuurt of Exchequerin England, which originatly hud only jurisdiction of cases ariving in con- hection with the King’s revenue, Under eituer sys. tem the highest expert skill, both im law and tact, might be secured for the speedy determination of a poculiarly emborrassing class ot litigated case. ‘There 18 reason to believe thut tho revenue has suf- fored great loss by excersive allowances for damages toimported merchandise occurring on the voyag Which allowances are now made under section 2,027 01 the Revigod Statutes, Fraud om the revenue by tho coilusion of dishonest subordinates im the Custom Howse can caxily be practised under this she ut even honest otlicers are liable to be deccived through inadvertence and the mtrinsic difiiculty of estimating the alleged damage by any practicable examiuation, ‘The fact that many imporiers serivusly objoct to hav. ing merchandise ob Which such ap allowance Bay been made marked “damaged” 13 somewhat sug. gestive, There seems no good reasvn why damage of this churaster should not be made tho subject of insurance, as well as other risks which are readily assumed by underwriters, The attention of Cougress is invited to the “iil (H.R. No. 1,712) to simplify the cppraisement of and mercnanuise imported into the es and subject to ad valorem duties’? urising under the provisions of tho statute relating to “charges aud Commissions’ have been and must ever be numerous and dificult, desirable to avoid them, if porsibie, to the revenue by the total repeal of the provisrons re- ferred tv tt 1s recommended tuat the provisions of the vill be 80 changed as to provide for adarng, 1 lieu of all such charges and commissions as are provided for by section 2,907 of the Kevised Stature’, a uniform charge ot hve per cent tor cunmissions, Ever since tho beginning of the government until the revision of the statutes the Jaw, waile fiximg & s Maxima rato, hus leit the compensation of inspe of the customs discretionary with the Secretary of Treasury. lu the revision the words conterring U discretion were repealed, and $3 per day was made tI absolute rate of compensation, with pernilas.on to 1 crease it to $4 per day in such ports as the Secretary Might think advisavic, Cousidering Ubat there are many collection districts where, from the fact that the vigilance uf inspectors 1s ellective, but little service mm tho way of collecting duties or detecting frauds done, and where all the duty required by the govern- ment is Dot tocompativle with some other occupa- ton, 1} seems desiravie thnt the discretion kiven in. the cartiur jaws should be restored. While $4 a day 1 not an = @xeossive compensation for customs officers employed im the larger ports, aud giving their whule time tu active ol cial ser vices, less Lian $3 a day would be saficieut for officers th small ports whe are required to watch against violations of the revenue, and who might, without detriment to the service, have ober ovcupa- tions. ‘ REDUCTION OF SALARINS. Legisiative, Executive and Judicial Ap) proved August 1), 1876, a “curetul wade Ot the force sinpioyed 1m the collvel revenue trom customs, with a view of reducing the number of the sume.’’ Reports of spec: signed to tho duty, received trom seventy: tion districts, recommend an agyregaiy reduction of 229 employds, involving a decrease in the aural ex- pense ol... » Sea, 18 proposed to cent im salaries in certain districts, which ‘will anount to. ricts (rom whiel n Fecerved. ‘These M18 estimated will add to the redaction about... Making « total reduction in annual expenses of collecting the revenue of., seeeees $407,837 These reductions, on tho 1st of January prox, will vo made. INTERNAL REVENUE, Tho revort of the Comuissioner of Laternal Revenue $$ ___ is quoted as setting forth in cetat! tho condition of this branch of the public service. STATEMENT SHOWING TUS KECKIVTS PROM THR SEVERAL OBJECTS OF TAXATION UNDEK THE INTERNAL REVENUE LAWS FOR THE FISCAL YSARS ENOKD JUNK $0, 187% RESPECTIVELY :— 1875. 1876." 52,081,991) 56,426, 36. 87,303,461 9.144, 004 248} Ferm’ted tiquo: Banks & baukers| Penalti ke... Adbesive’ stamps Back taxes under repealed laws..| 1,080,111 Total, 284 )in. 125,1 6,518,487 |dee. 33,742 509,631 | dec, 570,480 w+ [$110,645,154] 6117, 287,080 ee ASD IMPORTS, EXPOR: The coin values of the exports and imports of the United States tor the last dscal year, as appears from official returns made to and compiled by the Bureau of Siuuisties, are as follo' Exports of domestic merchandise. Exports of foreign merchandise, 14,802,424 Total $540, 384,671 Imports 460, 741,190 Excess of exports over imports... ++ $79,643,451 For the tiscal year 1875 there was an excess of im- ports over exports amounting to $19,502,725, showing a difference of $99,206,206, Exports of specie and buitio Imports of specte and bullion, Excess of exports over tmports... « $40,569,621 Total excess of exports of merchandise » and the precious metals over inports,, $120,213,10% ‘There was withdrawn from bond for consumption, im excess Of that entered for warehouse, during the past fiscal year, morchandise of the value of $13,840,340. The total exportation of specia and bullion was lest than that for the preceding year by $30,625,840, while a ee of domestic goods have increased tn value Jmportations of merchandise have decreased tothe amount of $72,264,246, compared with those of the preceding fiscal y And of $106,665, 152 as compared with the fiscal year cnded June 30, 1874. ‘There was ap ie! in the value of the importa. tions ot a tew articles, chiefly raw products and*becea- suries admitted free, as loilows:—Barks, medicinal, and corkwood, $611,540; coffee, $6,197,500; dyewoods 8, $611,377; jute, raw,’ $371,490; silk, ‘raw, ‘Yhere was a decrease in tho value of the importa- tions of chemicals, drugs und dyes of $2,081,317; gums, $444,061; bides and skins, $5,601,195; india: rubber and gutta percha, crude, $611,831; paper ma- terials, $616,699; tea, $3,149,537; tin ‘in [erg blocks aud pigs, $510,023; wood, uumanuiuctured, $488,904; malt liquors, $580,653; cotton manufactures, $5,012,803 fancy goods, $1,046,552; tax, and maputactores $2,157,196; ‘fruits, ‘$624,180; glass und glassware, $005,107; hair, $507,344; homp, raw, $862,163; tron, apa wanulactures of, $5,365,877; gubny cloth, 1,048,497; load, $598,072; leather of all kinds, 1,944,857; opium, $231,887 ; precious stones, $919,379; Maxseed, $2,367,512 silk manutactu: $034'0564 soda, and saits of, $1,181,082; sogar und molasses, 35,958; tin, and manulactures of, $2,950,848; and manulactures of, $688,447; watches, &c, $526,116; wines, spirite und cordials, $1,174,986; wood, and 'mabufactures ot, 115,006; ‘wool, Unmanulac- tured, $2,825,642; wool, manufactures of, $11,400,896, ‘There wus an increase in the exports of the. foilow- ing articles, the values being stated in currence: Indian corn, $8,808,343; wheat, $8,775,036; wheat flour, $721,030; copper, in pigs, bars ‘and’ sheets, $2,055,849; cotton, raw, $2,020,637; cotton manulac- In compliance with the provisivus ot section 4 of tho | tures, $3,051,006; leather and manulactvres of, $2,744,919; oll cake, 285; mineral oil, crude, $814,250; refined, $1,725,277; sperm, $519,232; shot $587,452; bacon and hams, ' $11,051,843; re- om, $1,042,175; tumber, The exports of domestic gold and silver in excess of tho imports were $34,102,010, as against $62,956,414 for the provious year. ‘There was a decrease in the value of the exports tions of the following article: Agricultural implements, $368,923; brass, and manu- factures ol, 655; clocks, and parts of, $255,823; copper ore, $645,107; fruits,” $818,216; manufactures of hemp, $1 823,804; pig iron, $307,699; steam engines, , $435,080; machinery, $1,264,487; muskets, rifles and sporting guns, $1,835,270; manutac- lead, $326,583; rosin and turpentine, $ 011,652; butter, $397,500; cheese, $1, sure: beef, $1, lard, $471,037; spirits of Lurpentine, $252,476; lea to- bacco, $2,604,166; shvoks, staves and headings, $1,283,223. COMMERCE AND NAVIGATION. There is little change in the proportivn of the foreign carrying trade transacted in foreign vessels, about seventy-two per cont of imports and exports during the Inst facal year having been carried in foreign ves- se18 as against seventy-four per cent for the preceding year and seventy-two per cont for the fiscal year 1874. ‘The Kogister of the Treasury reports the total ton- nage of vi is of the United States to be 4,279,458 tons, a decrease of $74,274 tons trom that of the dscal year ended June 30, 1875, This decreaso ia principally e dropping of canal buat tonnage exempt t of Congress approved April 18, 1874. The actual decrease 18 believed to be about $83,611 tons, this amount being the excess of the losses over the gains during tho last fiscal year, but this decrease 18 reduced to 574,274 tuns by corrections of the bual- ances outstanding. The tonnage of vessels built, as given by the reg- ister, 18 203,086 tons, being « décreasy from tuat of the proceding year of 94,053 tons, or over thirty-one ber cout. The numver of vessels butt is 1,112 Uiicial numbers have beou awarded by the Bureaa Of Statistics during the Last tiscal year to 1,753 vesse whose curryiug capacity amounts to 272,204 tons, an ly 1, 1876, to 63d vessels, of the uggrogate tom 116,300, Of the number of steam and sailing vessels 73 were Dew sca-going vesscls, exceeding 100 tons each, grouped as lollows:— 2 vessels of over 2,000 tons each 25 vessels vt over 1,000 tons cach 19 vessels of over 500 tons each... 27 vessols loss than 500 and over 1 Aggregate LOMNARE.....0+....0006 RRVENUK MARINE. This branch of the public service has been satistac- tory in its operations during the past year. The 1a crease in ttseiliciency and the reduction in the ¢x- pense of Conducting 11, which it was claimed in advance: would result trom the reorganization receatly com- pleted, are fully realized, The change 1 the ebaracter and size of the vossels has euabled them, without aug. menting their number, te perform the duties required 19 @ uiore prompt and thorough inanner tuan was be tore norsible, The following ja a brief exmibit of the gen sen Vices performed by Vessels uf the revenuo marino dure Ing the fiscal year vaded 30th June last, Number of v un dist AHsISLEC. ees eee 195 Number of lives sav os ‘ 4 Number of vessels seized ur reported tor vio~ tion of law... sees 225 Number of vessols voarded and examined. ..., 13,084 umber of miles cruised. ........ 194,201 The importantand hazardous ducy of assisting vos sels im distress has been cucountered with courage and promptituae by the officers and meu of the service. In addition to the uatuber of Iives saved, above, by the vessels. while engaged in work, 1b worthy of note the past year they have assistod ing property, ug Of vossols aud their cargoes imperified by w amounting to the estimated Value of 95,221,195. The expense of maiztaiming the service lor the Uscal year ts $S30, 193, 4 decided reduc- tion over previous years, Ju couclusion Secretary Morrill describes in detail the operations of the life saving service, the hght- house establishment, the coast survey, the marine hospital service, sivamboat inspection and the work oa public buildings, and makes various suggestions of Deeded legislation in reference thereto, AN OLD NEWSMAN'S DEATH, The death of Augustus D. White, an old and well known newsdealer, was reported at the Coroners’ oitice yt day, White and bis wife wero taughing and chatting together on Monday night, ubout nalt. past ten o’cluck, in their room at No. 720 Broadway, when the old man suddenly became aware of a trek. ding sensation tu bis throat, A secod later bis face be came deathly pale, and almost before his wile could discover anything unusual about him White dropped over on the floor, dead. He had not complained of iil health and it is supposed he ‘was aillicted with heart disease, Four years ago Mr. Waite kept a large news store at No. 704 Broudway, and suppiled ali the downtown hotels with newspapers and Joreigy periodicals, and apparently did a remuper- ative business; but avuut two years since ho vacated his old premises aud established himsel! at the unpre: toutious quariers in whien be died. [a conversation with a H+ RALD reporter, just after he moved the laat time, he said be was tured to give up the old place for Use feason that so much money was owing him. He had veen in the business in this city many years, Coroner Croker Was notitled of White's death, ROBERT DUNLAP’S DISAPPEAR. ANCE, Word wos recolved at the Central Office yesterday that Mr. Robert Danlap, a prominent politician of Lockport, in this State, and formerly a memver of Congress, bad been mysteriously missing since the 1th ult, For several days beturo his disappearance he manilostou, sv say his friends, symptoms of de rangemeut, oue of his fancies being that certain “parties “wero in pursuit of im. On the moruing of the 1th uit, he whispered inte hie wife’s ear that the “parties were close upon hit und be mast ilve, He soon atterward leit the house and was traced to Suspension Bridge, Niagara Falls Since then bo clew to lis whereabouts can be had, and his Iriends tear that te bas cominitted suicide, A Tewara of $1,000 is offered for imiorimation that will lead to his recovery, dead or alive. Mr. Dunlap is @ guod looking men of about sixty years of age, #1x leet 1 height aud weighing ever 200 pounds, His face i cuvered with a stuvvy trom gray beard, “YO A VALISE, Edward F. Scott, of Kric, Pa., started from the Mo tropolitan Hotel yesterday to go -to the Grand Central depot, carrymg tn lis banda sinall galiso, which con. taiued papers ot much value. Un the way he stepped into a salvon, and wile drinking there somo person stule the valine, Me, Seott reported the robbery to Superintendent Walling, and ofere a reward tor ite recovery,