The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-12-05

n rspsst q ths solicitor Of tAs Treasury mo.
81 alss accompanies this report and exhibits the
trial Of suits and the collection Of msasy upen juds
mens In favor Of the United States with suggstens ~
to the Ps0ty q s%sea.f the law :. !. e sssnos.:
partient 70 make conpron,sss and ssttismsnts. The
commendAton that the department. DO authorized to al
low district attorneys and Others employed for that
purpose, commissioa mot exceeding ten per cent on
The report Of the Treasurer Of the United States no
CO., also accompanies this The business the ONCE Of
formed. The money both Of the 1sited States and
the dsbursing agents Of the deposited has
once is recommended for the rcason stated By the
treasurer In bis report
Under the eleventh section Of the independent treasu
the assistant reasurers and the depostariss Of the
United States, examined by an agent Of the depart
saamn ana NJ Of them except that Of 70
CISCO California. His letter Of appointment, No. go
accompanies this report, Is also his general re-
used as depostariss Of the public money and BY
the disbursing agents Of the government exhbiting
the books and public money, and the duties Of the re-
spsctve officers. He win be required to examine the
southern Offices not heretofore examined by him. The
assistant treasurers oice at San Francisco has been
examined by J. Ross Browne another agent Of the de-
partmsni and that Office found in good condition, and
The table 81 which accompanies this report exhibits
the imports and exports Of coin from the 30h day Of
September 1921 to the S0th day Of june 1885, and the
table 30 which accompanies this report, exhibits the
coinage at the United States mint from the year l7s2 to
the 30th day of September 1854; and the table, 49,
Of the United States mint and branches from our
Mines from the year 1904 to the 3oth day Of September
Under the act OF 1868 there has been slsl52l7o Of
silver coined at the mint in Philadelpha and branch
mint at New Orleans, and circulated at Phladelphia
Sss
Orleans, St. Louis, Jefersonvie, Cincinnati San Fran
cisco and Pttsbur and furnished to citizens at vari
rency for change In circulation and afforded great
venience to the public; but the circulation Of large
amounts Of small bank notes has contracted the benefits
Of the silver change in many places driven It away
tied it in the pockets Of the people, The full bene
whilst small bank vnotes are encouraged under bank
charters and made current by the patronage Of the COM
These tables give some data from which an estimsts
may be made Of the increasing amount Of gold and silver
coin retained In the country. The table, a. with the
b made Sg
and Others Of the amount Of gold and silver coin in the
country at different periods and gives the amount
believed not q b. high estimate. OF this sam there
was about go 900 600 IN the banks and in
among the people, OF boarded up.
1t appears from the report tho banks from this de-
partment submitted to Congress on the 9th OF May,
United States, with capital Of s227, so7 53s; and in
ls5s-54, there were 1905 banks, with capital Of
$sol 20, o71.beiag an insreme Of s73 sssSse In
So All Sss and toss.her, $3.50, So, SOL and II
ns ne SsSoss s. III :n' .s s o.:
due to other banks $50, 81, 162, and together
sAS soo 1is making an increase Of :dl2 Seo 22 With
Of s5s 40 25s being increase Of 2OS
These tables exhibit bank circulation Of e2o4 8so3O9
X. the United ID
than $40 In the curIcnt con has kept up the de-
mand for It, and prevented the large bank circulation
from obtaining the mastery, and driving the oonstu
tional currency from the country. In table Of
previous year. but not exceeding the produce Of our
mines. This increase may be, In part sccountedQor by
the Large redemption os the public debt held abroad,
small notes circulated at discount in places remote
from the issuing bank and forcing the better currency
Of gold and silver ont Of the market.
The Uuted States having placed her receipts and
psnditcres upon the currency Of gold and
silver i in the power Of the States by prohibiting
denomination, and by making the constitutional curren.
cy the basis Of their receipts and expenditure to
sunsy in the Country
for all the purposes Of a circulating me-
dunn and Prsnent the evils and losses that always
in money matters grows out Of the failure OF many Of
these banks and the curtsment Of the circulation and
have reached forty fifty millions of dollars and in
part out Of the effects produced BY the large Imports
and borrower 1t cannot be attributed to tho shipment
of gold and silver, which Is nothing but consequence
The Independent treasury has been administered in
strict accordance with the provisions Of the law, In all
respects stated in my former report There has been
with any Of the provisions of the law. The opening
the treasurers Office at Washington, and the Offices Of
s
government, has been attended with signal success,
and resulted in great advantage to the executive
IS, which accompanies this report, shows the
growth Of the deposit system, the number OF
snS :ss1 ss wns e ws the places
win be seen that in September these deposits ex-
ceeded 90, 500 ooo whilst al disbursing agents who
many dsbursng agents could not do because there
were not deposltares convenient to their location.
tho ss Of discussing sns ssen and
whether the funds are kept lin readiness to- meet the
appropriations whilst, upon the removal resignation
passes at once into tie United States Treasury and to
the credit of the depositor without the procrasnatan
OF an and ean At once be sppsd
to the purposes Of the appropriation through another
agent. The money thus on deposit Is as safe and
depostor and II is right the and the dis
bursting agent should be at the expense and risk ofkcep
be regretted that all Disturbing agents conveniently
situated have not awaited themselves Of the right to de-
poat because 1t furnishes of mstrust to strict
compliance with the law, both in respect TO the deposit
and use Of the public money, and does not give the
United States the benefit Of promptly obtaining Tho
amount not disbursed, upon the REMOVAL resignation or
death Of the incumbent.
The work the coast survey continues to make good
progress and the means appear to have been carefully
and economically used II the work shall have the
tinued support Of Congress for few years more the
fullest and most reliable knowledge win be obtained OF
extensive ceast and OF all harbors TO the great
advantage Of our navigation and The work
is recommended to the consideration Of Congress, with
the belief that convenient time will be found
for it's continuance and completion, able corps
Of officers to which II can be confded.
The report OF the Lighthouse Board No. 81, also
compon this report and is referred to the detailed
operations for the past year. The business has been
promptly and faithfully attended to in oil its branches
and the system made efficient the time and means
would allow; and IL Is recommended TO the continued
favor Of Congress- in order that increased facilities may
be given to navigation in all its branches and
TONS
Under the appropriation Of for continuing the
system Of protecting human life from shrwrcck the
New Jersey const and 500 600 aprroprated without