Eaton Democrat. [volume] (Eaton, Ohio) 1843-1856, 1855-01-04
G.eretsry Of ths Treasarr'. R.part. !.

SeGtotAiy ot we lIeSsSrya h1PoEt.
The report opens with statement Of the
receipts aud expenditures OF the past year,
which have slr.ady appeared in the Presidents $
message.
The estimalsd receipts for ihe 6scsl yesr
ending June 20, 1855, are put down at, in
GLIDING the balance in the Treasury on July,
1854, sec, ,266, 404 CO, and the estimated ex-
peRdilueS al S5l, ,0C0,277 Il,
The amount Of the public debt outstanding
on the 1st Of July, 1883, was S91, $40, ,G2s IS.
On The FIRST day of July, 1854, it was Si7, ,is0-
500 05-ihus showing reduction in the pub
lie debt Of go, ,l60,i22 70.
The receipts fo' the fiscal year ending June
30, 1886, ore estimated at $G2, sO0,G10, and
The expenditures at $50, 800, 633 81 The
balance in the ticssury on the is, Of July q,
1856, is estlm.ted at S2l, 392,2l2.
The Secretary says that the lsfce importa-
tiOns during the last three qusEsIs OF the past
year were kept up by heavy exports Of proyi-
1 sionS, caused by the Scsrci y in Englsnd and
France; but he sntlcipstes falling of in the
customs IN consequence OF the reciprocity
treaty and short crops. Under the reciprocity
treaty, articles nOw paying duty Of 6l,s24,
s51 are made free.
During the past year the tonnage Of the
county shows sn incfesSe Of 305, ,S92 tons.
| The imports of the year show an excess oi
S26,32l,3lf Verekpor!s but this excess the
Secretary thinks is apparent, not zeal, rs tie
profits on our exports, and the lreigbts earned
| by our ships in foreign trade, ought more tksn
cover this eIesSs. In the exports, il should
be recollected, over SS6 0G0 coo III specie are
included.
The satisfactory condition Of The revenue,
in connection with our rapidly increasing
cOmnleIce, are used as arguments for iutbe
reduction in the taTiT. The Secretary objects
to the eight scht dulles, or different rates Of du-
Ties under the present lahG, ss collections arc
attended with great dliIicuIlieS The bill, he
says, prepared at The Treasury department
! lsst year, and submitted by the minority o
the Committee of Ways and Means Of the
House o. Representatives, contained but two
r&es Of duty; The first 100 per cent, and the
second Of IS per cent. He is Of opinion that
no more money should be collected than is re.
lquiied for the economical administration O
the government. Ar addition to the free list
ie recommended,
Under the net Of 1853, over fifteen millions
Of silver have been coined and circulated al
Phisdephia, New York, Boston, Baltimore
Wsshingt ton Detroit, Chicago, Richmond, Nor.
+ TX, Charleston, Savannah, New Orleans, 81
Louis, Cincinnati, PntSbutg. and San Fran,
cisco and furnished to citizens al various
other points. II is believed that the full ben.
eft OF silver cpinage for change can never be
realized while small bank notes are encoura-
ced and made current by the patronage of The
community.
! The total amount Of gold and silver coin il
circulation on the first OF October last is esti
mated al $2tt ,000, ego, against which there il
total bank note circulation OF 500, ,GS9, 200
Ian 1880 there WeIe 619 banks in the country
! with a capital of 1927 S07, ,533, and in 1854
this aumber has been Increased 10 1903 witt
a capital of S30i, 756,07.
In rey8rd 10 he workings OF the independ
ent treasury, tie Secretary says that in re-
ceving and paying for the last fiscal year more
than seventy five millions in the current cOin
it has kept up he demand for the precious me-
tails, and has prevented the large banS circu .
latlon from obtaining the mastery and driving
lhe constitutional currency from the country
The heavy export OF specie during the las
year is in part accounted for by the redemption
Of the public debt held abroad
The Secretary is Of opinion that presen
IpresSure in TIE money market is not owing tC
the specie drain but to heavy importations, The
failure of so many banks and the curtailmen
of the circulation aud discount Of others
which in the last six months, have reach {
the enormous sum Of nearly fifty millions.
The continuance of tie coast survey ant
the light house board is recommended. Furtb
er aid is asked for protecting human life from
lshipwreck on the coast andthe report suggests
whether the law should not provide greater
security in The construction Of steam passen-
ger vessels or TO leave them as now, to ,'ht
ship owners. From the lst Of January, s54,
to the first of June, sixty-three steam vessel,
have been lost. AlIusion is made to the los.
of the emigrant ship New Era. Experiments
are now making Tor throwing morars more
efectually.
Tine Secretary calls for such additional leg
islaion as may be deemed necessary TO guAr
against frauds by collectors Of the customs.
The Remainder of this very able report refer
principally 10 the operation Of the United
States mint and branches, as well as the op-
erallons OF the various departments of The
iTea sUGy.