The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-12-09

10,
and the paid out chiefly in treasury notes at par to
the Smithsonian institution also to other creditors Of
the government the notes at that time being generally at
par and the wants Of the government requiring the use
of the money before could be obtained upon the aver
tsement On the 22i October 1916 Gas per printed notice
hereto annexed marked ~ the department advertised for
the exchange of 3000,0O0 of treasury notes ut par for
deposie Of. specie with the assistant reasurers For
considerable time but very few OF such deposes We're
made or treasury notes thus taken and IRON TINS long
delay and continued reluctance upon the part o. the COM
muny in taking these treasury notes at par although At
any time after the 2Sth of January last they were con-
Of s we at mar not
been taken at the date OF my advertisement OF the "a OF
February last serious doubts were entertained whether
The whole of the loan could be taken ut or above
par 1t had been usual heretofore, with my predecessors,
in advertising for loans, to emit no sum to any individual
under $25,000; but with view to insure the largest
possible subscription, and at the best rates. ana 70
dilluse the loan far practicable throughout all
classes OF the community bids authorized 70 pc
received by the advertisement as low as the lowest DC
nomination OF treasury notes permitted BY hw-namely
fifty dollars 1t was the duty of the department 70 accept
nothing but specie being the first loan negotiated in
dae and The s oan except s Sa q last %
thus negotiated at or above par during period OF war
The magnitude of the loan, the fluctuations below par OF
alarming restraining operation of the constitutional
ury, the heavy expenditures of the war; and the require
ment Of all the payments from time to time in specie
deemed by many insuperabe obstacles to the negOtrl
ton of the whole Of the loan at above par But I'M
der the sauary provisions Of the constitutional treasury,
the credit OF the government was IN truth enhanced BY
receiving and discussing nothing but coin thus placing
all its transactions upon basis sound and entitled
to higher credit than when held no specie, had no
money in its own possession and none even in the banks
to pay its creditors but bank paper Then, il was de-
pendent upon the credit Of the banks and subjected
to every fuctuaon which affected their credit Now, it
stands upon the basis OF SPECIE to be above all sus
picon of discredit whilst by its demand for coin for
enue payments it susains not only its own credit, but
renders safe the credit and currency. and business
of the whole Union. s4
By the act Of Congress Of Sd March, 1886 this depart
ment authorized to select plan for the erection q
house in the city of New Orleans BY the act Of
Sd March, s47 the sum Of 100000 was appropriated
towards the erection Of the custom house. on the Custom
house square, much thereof could be procured
by the department After some delay was enabled to
obtain cesson from the st municipality OF New Or-
leans OF the whole OF this square, which muncen do
nation TO the has been estimated as Of nearly
the value Of Soao9 Go%m,sgoness nave l pen ap
Much time was occupied and great attention bestowed in
As custom house is designed exclusively for The trans
action OF business everything calculated merely Tor orna
ment or display was rejected and that plan selected
which united good taste with the greatest economy and
the largest and best accommodations.
In building OF such magnitude and importance, APP
peared to necessary before expendng any part Of the
ebained direct the construction Of the work; and
have il is believed succeeded in securing the services
gentleman of high scientific attachments and great ptsc-
teal experience Upon my application to the War DE-
partment Major William Turnbull, OF the typographical
CORDS will il is hoped be detailed for this work. The
great aqueduct across the Potomac at Georgetown, adj
med both in Europe and in this country to be Of
the greatest works of the age constructed under the
direction of this genteman and wherever he Is known.
WORTH and especially in his udcious and economical
pcnditure of the public money Further estimates and
specifications will be submitted to Congress at the ear
hest practicable period The thanks OF this depart
have been already rendered to the first municipality OF
New Orleans, for the municent donation OF the entire
Custom-house square made BY them to the government
buuo
large paid by the government merely for the
ground but here the best site in New Orleans, covering
fact together with the great and growing Of
New Orleans the increased and increasing revenues
collected there being the depot of the greatest and richest
valley of the globe, and destined suss in business
wealth. and populations nearly every other city, render
it just and proper that building commensurate with the
future growth and progress OF New Orleans should be
with other cities where Congress have paid both for the
ground and the building and it will be tie ANXIOUS
desire OF this department. with the sanction OF Congress-
TO make the building model of usefulness an economy
The action of the department the ecion of other
custom houses authorized by Congress, will be made the
subject oil special report at an early period OF the SEES
slon
This department has proceeded aided by the Fifth Au
dor Of the Treasury and the Chief of the Typographical
Bureau, to carry into effect the act Of the 80 OF March,
1877 requiring the Secretary of the Treasury TO cause
certain light and other public works to be erected
as well TO execute the other duty devovei upon the
department in regard to the lighthouse establishment II
make country the depot of universal commerce, our
coast as well lakes must be well lighted and the coast
survey must ascertain and give accurate, minute, ami
faithful charts of all the points accessible to commerce.
In my report to Congress of the 9Th August 1916, our
lighthouse system fully discussed, comparison
instituted between and the European system and the
reiractng entcula apparatus strongly recommended
to the adoption OF Congress At the same tire the de
prment suggested the organization OF board attended
with expense consisting OF the Fifth Auditor, the Su
perntendent Of the Coast Survey, two officers OF the
navy, officer of the engineers, as also OF the op0
graphical corps, who would combine the informal
ton possessed by individual regards our coast
and navigation the location and construction Of the
houses, the proper apparatus to be employed IN Lighting
as well as to the administrative duties apperanng TO the
system As the safety of life well property is in
volved in the improvement OF light house system,
the organization of this board is respectfully ccoen led
to the consideration of Congress-. The survey OF the
Professor d. Bache has made great and rapid progress
having been carried during the past into eighteen
States on the Atlantic and Gulf Of Mexico, including
Maine on the northeast and Texas the southwest.
The publication of the results has also kept pace with
the extension of the field work The plan developed by
the superintendent successive annual reports, for the
execution of this work. and the estimates have received
believed to be the smallest consistent with the due
progress of this great work The introduction OF steam
vessels in the photography will tend greatly to expedite
that branch Of the coast survey.
Annexed is table (marked LII containing the value
and description of foreign goods in warehouse AZ ihe
close OF the last quarter, in the several ports Oh the
BY the warehousng act this department IS required 10
make such regulations from time to time as may be ne
cessay give full effect TO the law and to report 70 eacn
succeeding session of Congress such regulations hose
heretofore made under the large and continuous discre
onary powers granted by this act to the department,