The republic. [volume] (Washington [D.C.]) 1849-1853, 1850-12-17

than corresponding increase In the expenditures.
The maximum salaries OF those oihcors attached TO
the Pacific districts designated by that act, though
in general reduced by the Department. are believed
10 be only commensurate with the expenses at
tendant upon residence IN that country. Ihat
basis, fixed by Congress, has been the standard
adopted by the Department relatively, for the COM
pensation of the subordinate officers and in the ex
ercise Of the discretion given by the fret section of
the Joint resolution of 18th February last such saa
ries have been assigned as, in the opinion OF the
Department. required 10 insure TO the Gov
ernmtn mt, officers of ability and integrity, and full
reliance is placed upon honest and faithful dsi
charge of the onerous and responsible duties de-
voving upon them In that remote section oil our
country.
The great reduction of the revenue marine made
by my predecessor, in consequence OF the limited
appropriations has been represented AZ injurious IN
its effects. This branch of the service, intimately
connected with, and necessary to, the collection Of
the revenue, is, in the opinion OF the Department,
proper subject for distinct appropriations, and
have therefore submitted estimates for that service
upon a basis of twenty revenue vessels less mum
Der by four, than existed previous to that reduction
Public Debt
According TO the last annual report from this De-
partment the public debt the LIST December.
lSl9, including = ,s2l IS in Treasury notes and
stock not then stated, was. Sof ,723,ol5 10
Since that period the following reductions have
been made VIZ:
On account Of the debt OF the cities
OF the District OF Columbia, as
sumed by the act OF 10Th May,
1886 ..........,..... .......-..... SOo,uoo w
On account of the old funded and
unfunded debt. .,............... 3,li9 u
OF Treasury notes ............. SIT 81
And of the stock of lSi7 .......,.. i30,25o 0O
S495,276 10
The above stock was purchased at market rates,
through the agency of Messrs Corcoran & Riggs,
and which but for the great demand Tor Govern
ment securities, increasing their price beyond the
limit fixed by the Department in Its INSTRUCTIONS
to lite agents, would have been somewhat increased
The public debt on the 30th November last was
s 6I ,22S ,23S 81, as per statement ID, VIZ:
Old funded and uniundod debt re-
deemable on presentation....... ll9,os5 IS
Debts of the district cities, assumed
by Congress, 100000, payable
annually. ....,....... 5uO,VoO w
Five per cent stock per act OF Au-
gust, 1916, redcemabe Augusta,
ISL .................,..... 3o3.5 73 90
Five per cent loan Of 81 March,
ls43, redccmable July |, 1858. 6,465,23l 80
Six per cent. loan Of 22d July,
1916, redeemable November Il,
1856 ........................ 1899, l49,4 As
Six per cent. loan of 18th April,
lSi2, redeemable December 81,
1862 OBSERVATION-DISCLOSURES. o,l9o,ooo o3
Six per cent. loan of 18th January,
1917, redeemable lst January,
lSbS. -iJlSoJ lZZ w
Six per cent. loan Of 2sth January,
1877, redcemable Jan'y lst, 1868. 1928 90
Six per cent. loan of 3lst March,
lS4S, redeemable July 4, 1865. l5,Ii0O 900 %
Treasury notes issued prior to 1916,
payable on presentation, II con-
verted into stock, under the act
of January 2Sth, lS47, will be re-
deemable July |, 1868. .......... 2O9,o6l 64