Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1853-12-17

manufaetura-nat the growth or production
OF the United States or but partially 80, should
not be taxed: and ne higher taxcs should be lev
led on other importaions than may be necessary
for the economical Hfufs If the goyernmentiius
leaving commerce u free and unrestricted n pos
sible bet the thrift be reduced as Congress, IN
view Of the present wants Of the government
shall deem best. the increasing population, pro
duefion industry aud enterprise al the nation VII
still neerssaril, add 10 the nporiationsand con
soqnentlv Ia the reRenue.wtat shall be needed Tor
increased expenses.
The tables accompanying this report exhibit
the free lists of England, France Belgium, For
tueal. Brazil. Austria, spain, Russia, Cuba, the
Znll Nerrin. Chill. Netherlands, 1Ianse Towns,
Norr nv. Mexico aud sweden aud mark the prog
rcss Of free trade among commercial nations
t'nro-trained commerce., binding the nations of
the earth in stronger bonds Of pence by mutual
benefits. has numerous aud increasing advocates
in this and other commercial countries. HE
principle of free trade may not yet be sufficiently
verified from experience, in this aud other nations
to Justify it, full ndoptIon but the progress to-
wards free trade now proposed, will he justified II
is believed. by both public opinion and public in
forest. 1t Is considered that the taking off the
duty on the raw material used in our munutacto-
RE. viii countcraet the reduction Of duties on for
eign manufactures, and when compared with the
operations Of the present tariff will not material
meree.
II is not proposed to change the principle of al
valorrtn duties bat il is for the consideration of
Congress, whether specific duty on rom made
from the average of the last three or four years
al yalurem duties, might not civ g greater stabli-
ty Ia the iron business, aud moro satisfaction to
consumers, and nj the same time, prove equally
beneficial to the revenue.
1t proposed to mnhc salt free of duty. The
average unnual revenue FROM that article for the
five years to the Both June, ls53, is only s2s!,
2SI. while the annual fishing bountcs, exclusive
Of the drawback on picked fish, for which the
salt duty is pretcNt amount to S2s9, Alb, be-
sides other heavy annual expenses 10 prevent
frauds. \ report upon the subject of the fishing
bountcs, from j. Ross Browne, with its refcren-
ees, is herewith submitted. For the reasons sta
ted IN that report II is recommended that the
fishing bounty be repealed, and thai branch of
industry hc left to the fair competition which
causes other maritime enterprises to flourish.
The tnble OF imports and exports for the fiscal
year ending }Oth June, 1888, accompanying this
report, aud heretofore mentioned, compares Ia
yornbly with those OF preceding years, aud marks
our increasing capacity for commercial inter
COURSE The table Of tonnage which also
companies this report, shows that our tonnage is
now 1,1o1 ,0lO tons, and exceeds that of any pre-
eedng year by 2tS 900 tons. These tables prove
that enjoy "A prosperous commerce., with an
increasing capacity to extend IT.
The table exhibiting the operations of the mint
also accompanies this report II shows the en-
tire coinage to Jls October last to have been
ST0,O0s,l92 80 the gold coinage from the lst
january to the 3lSt October Of the year, 1903, 10
have been Sl6,99s9lJ 60, aud the silver coinage
~6,996,22j and proves an active and growing
demand for gold and silver rs II currency for ac-
tual use whist the imports of gold and silver in
Guiding what is brought 10 the Atlantic from Cal
lionia without estimating for that brought in by
emigrants, compared with the exports Of gold
and silver prove that, within four years, the
large amount of ~l35,912,095 %, has been add
Ell 10 the gold mud silver com remaining in the
country. Should this increase continue for but
Il short term oi years, this country will be able to
dispense with banks OF issue and their attendant
OWLS and have the gold and silver currency con
tcmplated by the Constitution. The operations
et the mint and It's branches for the pust year
show very favorable result and the recoinage
OF silver hns III many plaees, removed the neon
scnlence arising from small hank notes and want
oi change. 1t may reasonably he expected that
the supply in the course of few ycars will he
ample and extended to every section of the coul-
try.
Its thought that "A coinage of an alloy resem-
bling German silver may bc bcnelically subsli-
tutcd for the copper, and experiments To that end
have been directed. Should they prove fayora-
bic, the result will be presented during the sea
son,
Upon II careful examination and consideration
of the Treasury acts, it was considered within the
power aud duty OF the department, if not abso-
utely required, to cause the public money to be
always IN the treasury or in the custody of the as
slStant trousurers and dcpoSitaries designed by
law, until regularly withdrawn for the purpose of
disbursement IN accordance with appropriations;
and that all powers vested in the department in
relation To the collection, safe keeping transfer,
and disbursement of the public money should be
entrusted TO and exercised 10y its officers That
plan has heonadoptcd and adhered to,and no diff
T Guilty or meonH enlonee has arisen from the work
ing OF the system, and II is believed none can arise
The 9TH section, of the act TO provide for the
better organization of the treasury aud for the
sate-keoping, transfer,and shursoment ofpuhlic
money requires il ''to be safely kept without loan
ing, using. depositmg in banks or exchanging for
other funds The section not only requires the
assistant treasurers, &e 10 perform the duties
specially imposed by the act, but also requires
themto perform all other duties which should be
imposed byNongresS by any regulation of the
Treasury Department made in conformity To law ,
The dlsbursng agents ofthe several departments
OF the government being without safe places of
deposit for the public money entrusted to them. if
was deemed right and within the provisions and
the spirit OF the law to require the treasurer and
the assistant treosurers and depositaries design
aIed by law 10 receive deposites from the disbIrs-
ing agents OF the government, and to pay out the
same on their checks. \ regulation to that effect
was issued and Is IN operation, and accompanies
this report. 1t is great convenience to disbnrs-
ing agents, and also secures the safety of the
pubic money The privilege of so depositng