Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-12-13
in addition the useful duties performed by the select
| cd hanks In hclnlf of the Trrnsarr

in addition TO the useful duties performed by the select
cd banks in behalf of the Treasury.
On these points, however, is hoped that this Depart
ment VIII not be understood ndng that
should ever be imposed with view TO permit LARGE
surplus, amy than deficiency, 10 occur but that
when the former xpcctedy and Internationally hap
pcns an income should be realized from it, by interest
or an Investment, until at the end of every few years
thorough revision of the Tariff would in the pursuit of
this policy, be made, and graduated as during the
next succeeding tcrm TO be likely any great
Irregularities, whether deficiencies that had
happened daring the preceding term and to lead TO the
sales and use oiany interest which in the
men time, had accumulated.
Those other questions naturally connected with the
present depositc banks and, indeed with whole
stlng system okccpng and discussing the public money
might here be appropriately considered. Yet without
any desire TO avoid, but rather from wish to submit
that full aud frank discussion of thcm which their ac
knowcdgcd Importance and the exciting interest in
them, demand from the fiscal department OF the Govern
mcnt, they Will be postponed TO separate supplemental
tcpor which VIII be confined exclusively their con-
sideration, and sill soon be presented 10 Congress
lfoppears TO the undersigned. that q change in the
commencement Of the fiscal year and of th, ti,ue NJ
which the annual appropriations begin would be Great
Improvement in the financial operations of the Govern
ment II the year was to commence after the last day
OF March, instead of September aud the annual appro
priatons begin from the date many DELAYS and en-.
barrassnens could be avoided and the information on
the condition OF the receipts and expenditures of the
previous year. to be laid before Congress each session
could be much more full and accurate.
Upon the subject of the coinage of gold and the
operation OF the acts OF the last session rating In IT,
and to the value and tender of foreign coins this De-
partncn does not until further experience is had con-
template offering many recommendations for cgis-
lauon. particular suggestion, deemed proper is that
the one dollar gold COIN originally embraced in the late
! act, should be authorised
found ON trial to be convenient as small pold coins
have been found some of less and tlc larger
amount in Portugal, Russia, Spain Turkey and Swift
zeriand 1t does not seem to compo with the interest
anu welfare OIL the community t. prevent here its coin
age ana circulation; and fnot found on trial To be use
iul, the sagacty of scnerest will soon lead 10 the aban
donmcnt Of its coinage, by making no demand for il
i'm mr. pNnpt
ifany injury, from it, while The facilities of the public Inv
having coin of either metal gold silver as small as
ono dollar, may be greatly increased This kind of lie.
gsiaton, with view TO provide full supply and vare
ty of COIN instead of bills below five and ten dollars l.
pareuafy conducve to the security Of the poor and
mddling classes who, they own but little in and
profit but little by banks should be subjected TO as small
risk as practicable by their bills. The wealthy and
commercial, for whose benefit chiefly banks are insti-
tutcd will then chiefly their bills and suffer by them
If forged dcprccaicd while the laboring classes and
men OF small means, WILL by the justice and paternal
care oil the government generally be provided with
currency of hard money, exposed to any risk of
failures. and to be used for all dealings of such AN
amount rs their daily weekly wants may in most cases
require.
The new coinage has yet been confined principally
to the hall and quarter eagles and has equalled in all
about $3ll4,UO; or i'll four months more than four
times the annual average coinage of gold for many
past.
The demand for other coins has also been promn,,,,
met throughout the year To aid in CARRYING the new
law into efficient operation this Department last Au0us
placed in the hands of the Director of the Mint under
|
thousand more in September, $ it was needed and
could be without inconvenience spared from the Treasu-
BY this course many have been enabled at once 10
realize funds from their deposte of bullion or coin and
the Mint to continue its operations unncrruptedly and
to supply promptly, where desired, coins already prepar
cd for circulation
The strong disposition of the public to use the now
coinage has been observed with pleasure the liberal
ana OF many OF the dcpose banks, in assisting increase
us circuaton have proved very useful and deserves COM
nent-tion AS the new coinage commenced nearly in
The middle OF the year. and the date, till January
could not by law he altered to DISTINGUISH the n,
from the old coin, such other alterations were adopted
by the Director of the Mint the law permitted and as
were cacuatedto aid the community in readily discrim
mating between them After the next wear bc0ins the
new date alone will enable the public distinguish the
new coins; and such notifications only will be made i'm
the former cmbems taste and convenience NAV i'm the
opinion Of the Director and without an omission of an
thing required by Congress, appear to demand His
report winch 1t is expected will be received and
presented VIII probably furnish every further particular
connected with the of the mint that may he in
erestng But is considered proper to invite the atten
ton OF Congress to change in the law respecthp the
organization OF the mint establishment, hereafter TO
prevent ITS operations, III refining and coming for others
from being tax on the treasury and any longer swelling
ue large amount OF our annual expenditures This
could easily be effected by imposing duty or scgnoraoe
oil about one per ct the prompt coinage of silver and
fourth per that of gold the present COINAGE Of
copper now defraying its own expense This would be
no more burthensome TO the persons holding bullion than
tho delay now allowed for the ccoinage and which de-
lay OF ~ days Tor half per cent discount if delivered in
days ana consequent loss OF interest, could with such
scgnoragc, and the advances now authorized from tho
lrcdsuys DC WITHOUT inconvenience reduced eipht
ten days. and the whole establishment be thus sustained
by ITS own earnings without muc if any increased cost
to either individuals the public But in such case If
the cost should ever be increased individuals some
additional mduccment will be held prevent either
the expectation melting of coin which have bcen
so great before the late change in the law to have left
IN deposite and circulation this country an amount of
u not exceeding that struck in or three out of the
forty years during which the mint has been in operation
The expenses and labors of the mint equalng on nm
average about 10000 dollars year. or 500 coo dollars i'm
all excluding buildings, have thus, except for about two
| years been entirely lost to the country.
! III has been deemed desirable TO attempt some inn
provements IN the Revenue Cutter service With sIich
ylew all ITS regulations have been revised and re-
published by those, has been endeavorcd TO promote
the cause of temperance and thereby to ncrease the
public property and public interests in this branch of
service, by holding out similar inducement TO that now
existing IN tile Navy, TO discontinue the use of spirit ON
smpboard Greater security has been provided for the
prompt payment of their wages and for official account
ability 1t has further been deemed cxpcdcn not only
to stop any contemplated increase in the cutters but to
reduce the number of Them and of the persons employed
in this service, rapidly the diminished temptation
to smuggling will safely permit
BY several resolutions, appropriations and acts Of Con
gcss at the last and previous sessions variety of other
SUBJECTS not yet reported has been conded the at
tenon OF this Department, such the erection of a
number of Custom Houses the building of Bridge oyer
the Potomac river, in this District compromise Of the
suits pending against the firm of TIL IT, Smith q Son
an opinion on the validity of private land titles in
Missouri report certain provisions i'm the Tariff Act
OF July ll 1892 statements to the Marine Hos
pital money; reorganization Of the Treasury Depart
mont and revision Of the subject of salaries and foes TO
Cusom-H House officers
These have received careful attention. and will form