US Presidency
1876

When this is done, all the strength that there is in our Navy will be developed and useful to its full capacity, and it will be powerful for purposes of defense, and also for offensive action, should the necessity for that arise within a reasonable distance from our shores. The fact that our Navy is not more modern and powerful than it is has been made a cause of complaint against the Secretary of the Navy by persons who at the same time criticise and complain of his endeavors to bring the Navy that we have to its best and most efficient condition; but the good sense of the country will understand that it is really due to his practical action that we have at this time any effective naval force at command. The report of the Postmaster-General shows the excess of expenditures ( excluding expenditures on account of previous years ) over receipts for the fiscal year ended June 30, 1876, to be $ 4,151,988.66. Estimated expenditures for the fiscal year ending June 30, 1878, are $ 36,723,432.43.