Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-12-17

ous As portion of that may have been bullion sum
mite couang, if not exceeding the rcuaihac[ " 80;
,;llions probably consists Of the amount OF specie i
circulation which has been somewhat increased e
out the country during the last two years. SO tiu.' H.
naming SIN ii bills in circulation under hVe aoi s;h
whole Union which chiefly in seven States anu ,h
nrohably do not exceed six or seven mli"ls' "e'e w
d,ovu il would not require, TO supply their pact
third Of the addition which has been made IN le w rio
years to the national stock of the precious metals
snecic on hand in banks, WILL IN tins way as
aon hear q larger proportion 10 their notes IN circu't
and the security and real usefulness of all banking III
stu,ions to the community be thus greatly ang,hrh'e
Tic snece in active circulation thus increased ny eA
Guiding small notes, will constitute, wniie re'ai'.u -
h conntrv 4 great and safe reliance for banks to &C.
nend on (besdes what belongs to them IN llcr 'autSO
Whenever anunfvorable Of exchange aoroau OF
manic at home. should cause an unusual deliu 10! sPI
cie to be shipped abroad to meet blidnce o t,1ue
,;nst us or to be used in circulation at home by thoSe
Chose confidence from real or imaginary causes may
for time become diminished IN the security OF o"AS
When the further suppression ol small oles eH'co
I'm all under dollars IN amount, sa!! W oe'!eu az
disable by Congress and the States no doubt Is enter
taned that sufficient specie can ana VIII Dc teaa''y o
10 supply their place, in connection WITH "."t 'oW W
ISIS in the country. The proportion OF specie " "N
noes in circulation will not then he so great Us IL IS ~
,I te most commercial nations i'll Europe (see laD'c
If Circulation in Sup Ecp lS34) How much lurthcr
it may bc deemed feasible to gn, with TAR prospect
ADVANTAGE to the community and our curFtNcy GIn NC
heller settled at that time than al the present Chael
| is new valuation, the coinage of gold at The MINT
from the lst Of August 1854. TO Inc ls OF -No'eDef
1885 has been $547 500, or over Treble inc amount
supposed TO have been coined IN any previous Pc
r;nnd of similar length. The ratio has been some
w,t lsseued the last six months by several causes, OF
which al important las bcen the desire 10 Pi"'uc
more quarter eagles and full supply OF silver chase
TO meet the increasing demand IN several S,t.eS I'.
the withdrawal Of small notes from circulation: 4 it
coinage of silver has been extended, IN inc Hrst GS
months Of this year. 10 over eight aid tu ,to
of pieces which is believed TO be much Deyohu tic
| nj
The building of the three branch minls, and Tic pr0cu
rng of their appropriate machinery, authorised " tic
act of the I'd of March last devo!red by the lrcS
dent Of the United States on this Department. anu HIS
| been prosecuted with all practicable despatch. ,
The estimates and views of the Director on uat SUD
icc, IL well as Oh other improvements cohnrctra VIII"
this important and increasing establishments WIN, WIZ"
its whole operations the current year anu ~.
the proprcss made in the new buildings ana iiac"'ney
be s,.asyDably presented in separate coIiiuNcatoh
and this Department does not, OH tins occaSin'' aee
necessary to invite special attention ID any s iu''c'
connected with either the Mint or our coliage'
the several recommendations relating to thcin winch
were contained in its last annual report The same rc
s,ns then assigned for cosing by spSc" act OF co
grcss the concerns Of the Sinking Funu, ana o. INC
come xion of the Government, after Tie third OF arc
ncyl with the United States Bank the subject OF both
the National Debt and of Pensions allowed previous TO
1892 apply with increased force IL Is cohSiuefcu
that nothing need be added to The suggestions linen MADE
on these pons or the subject OF the seizure OF the
dividends due the United States BY the Bank for It's claim
for dauares on what is called the Bill OF Exchange Oh
| the Government oil france
| As Congress has yet given its sanction to
that claim or made any appropriation for lis payment 1t
i very desirable that in its final proceedings concerning
the affairs OF the Government with Tie Bank some SPECIAL
direction should BE- included that subject as well as
on the reports he required, and agency exercised over
the interests Of the United States iii the Bank Tie csu
inu two ycars By any public officer A direction seems
proper also as in 1872, concerning the receipt OF the
bills Of the Bank for public Dues after the third Of March
next and the disposition or investment OF the interest
of the ntcd States its capital stock, whenever PAID
over TO the Treasury Some explicit action oil Congress
on the subject ofthe above claim for damages Is very
desirable another view, rs to enable THIS Depart
cnt in case of the pit otany part OF the French IN
demnity to decide correctly whether the dividends
seized by the Bank should in any event. be considered
the loss of the Uud States should be deducted from
the amount received for the claimants under the treaty
in whose behalf the business was transactng IN which
The demand for damages originated. and to whose credt
the present Of Congress requires shall be paid INTO lie
Treasury, only 'he nett proceeds ofeach lnstancnt
VII. Miscellaneous subjects.
In the course of the past year, the Department has,
at various ports discontinued, not necessary, four
teen CUSTOM house officers, and ut others reduced Tie
CONDENSATION of few. This h enabled it to augment
the number and compensation al some other points,
where the increase of business appeared ~ demand it,
though. not in all Places TO the extent desired. From
the diminished temptation TO smuggling, under our re-
duccd tariff this Department has felt justified in lessen
ng the number of rcvcnuecutcrs two one-tcnth OF
the whole the number Of boats three and the number
Of officers and fifty, making hereafter an an
nual saving in these respects Of about $50 Ou0. After
full inquiry all has been effected on this subject which
tic public interests appear now to Justify. the expenses
Of collection III this and other particulars should be
considered in reference to the gross, and not is
sometimes inadvertently DONE the nett revenue: the for
mer being the amount which the cusomhousc establish
ment must actually assess; and the difference between
them being i'll part paid out tor other objects than me
mere expenses of collection; such bountics the
fisheries, and rciunding Of duties In deciding on the
rcasonabcness ohosc expenses must be manifest that
certain number Of officers, cutters, boats, c equal to
the collection of large sum, cannot be dispensed WITH
at many places if any revenue, however SMALL is TO lie
collected else there would be no adequate srcirlty
against illicit trade and M means OF furnishing proper
entries ccaranccs, and other papers, TO lose engaged
in navigation though their trar may be almost cXcu
svcy in the present large amount OF Tree goods, or III
our widely extended coasting business. In comput-
ing the rate per ccntum for collecting the revenue
must also be remembered that the rate is larger as the
amount collected dninshes, and smaller as 1t in.
crcnses, though the whole actual expense OF collection
per amman rcnans the same. turlhcrmor, the neccs-
sary Of collecting thirty millions OF dollars at the
ports obviously need be but little more than to col
rc half that sum- though the per centagc, IN one case
will be double what it is in the other This Department,
since the reduction of the whole duties to be collected
in 1885, and the spending decrease IN the induce
to smugge, has cndeavorcd to reduce The whole
actual cypcnScs and has, in degree, been success.
full though the whole of collection may still con-
sttue larger ccnagc than ut some former PERIODS,
the whole amount of revenue Is so much lesseneu
Thus from 1890 1904 that cost, though small In H.
self rose in some Of those years. to more than IL per
cent small revenue, to about tho same rs III lc'
and "a, and which is quite per cent lower than tho
average in England, and per centum lower than in
France But in most intermediate years. iorreasons be-
fore stated and others too obvious for recital the cost OF
collecting our revenue from customs, as well as lands
has seldom exceeded - per cent? and from the latter
is now probably not half that rate Besides, the eXPa-
-.LJ-"., - = ~ RI Alt
the new expenses will long cease which have recent
~ been imposed on the collection of the revenue by the
necessary preparations for making and TIC actual manu-
measures and uniform sets thereof for all the cGs.o'
borsos in the limited States.