Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1869-12-16

$50, 440 per annum. This statement does
not relate to the force in the bureau of en-
craving and printing
In March last there were 60 special
agents in the service of the department
receiving, in the aggregate, for their ser,
vices the sum of $37l,l0 per day. The
number now employed is "a, cpd their
daily pay $685. The pay of the agents
has been increased generally, in the hope
that more efficient service might be OBJ.
tanned.
Arrangements have been made for the
manufacture of paper for the currency
and other obligations Of the United States,
and for the printing of the same, which
will increase the security of the govern
ment against unlawful issues from genuine
plates.
The revenue marine system is an i'm
portant and expensive branch Of the Gus
toms revenue service There are 80
vessels belonging to the department, of
which IL are sailing vessels, and "a are
steamers. They vary in size from 40 to As
tons, One hundred and seventy three of.
ticers and 2,400 men are required to man
these vessels, and their running expenses
amount to about $S65000 q year. From
one half to three fourths of the vessels
now in the service are not adapted to the
business.
The attention of Congress is called to
the inadequacy of the salaries paid to Of
ticers in the Treasury department, who
exercise discretion and whose acts bind
the government or affect directly its ex.
penditures or revenues, and an increase of
their pay is earnestly recommended.
The Secretary also states that this in
crease of pay should be extended to the
revenue officers in the customs service,
such as collectors, surveyors, naval Off.
GERS, and especially to appraisers and
examiners in the appraisers department.
Including interests earned and not
paid, and deducting the cash on hand,
the debt Of the United States on the LIST
of March last was $685., 463, 26001, and
subject to the same condition it was 81
453, 1859, 1882 on the LIST of the present
month, showing decrease of ST. ,903,.
52418. This apparent decrease of the
public debt is less than the actual de.
crease. Considerable sums have been
paid on war and other old claims not
previously ascertained, and therefore not
included in any debt statement. The ac-
count of March l. from the necessity of
the case, included only the interest &C
crued and not then payable but as mat
ter of fact there were outstanding and over
due interest coupons and several millions
have since been paid out of the ordinary
revenue. Previous to March /, ne inter.
est account had ever been kept with the
several loans. Such measures as were
found practicable have since been taken
to ascertain the exact condition Of these
accounts The bonds issued by the United
States in aid of railways, amounting to
$62, 625 1870, being in the nature of loan,
are not included in the foregoing state,
ment
During the fiscal year ending June 30,
1869, there was an excess OF receipts over
expenditures, including the interest on
public debt, of $40, 453, 1896. Of this
excess, $12 ,37003, as nearly as can
now be ascertained, arose previous to
March /, and the remainder, $36, AGO, 779
.43, between that time and the first day
of July. This excess was applied from
time to time to the purchase of SEQ bonds,
and the excess of receipts since July has
been used in the same manner. The pur-
chases amounted in the aggregate, on the
Both day of November, to $15,476, 800.
AS large part OF the excess % re-
ceipts was realized IN coin, sales of gold
have been made from time to time, and
the proceeds applied to the purchase Of
bonds. With the exception of the sale of
moderate amounts of coin in Chicago, New
Orleans, ST. Louis, and Baltimore, for the
payment of duties, the sale Of gold, and
the purchase of bonds have been made
uniformly through the agency of the
United States Treasurer in New York,
and without any expense to the govern
ment except the comparatively small
amount paid for advertising the proposals,
The average premium on gold sold since
March 1st has been 80 10 per cent, and
the average premium paid for bonds has
been 10 $500 per cent. Upon this basis
of the sales of gold, and the purchase Of
bonds, the average prices paid for bonds
in coin has been 80 55-100 per cent.
"The act of February %, 1862, provided
that the coin received for duties on i'm
ported goods should be annually set apart
as sinking fund to the extent Of one per
cent. of the entire Indebtedness of the
United States In conformity with this
requirement, | have purchased bonds TO
the amount OF $20,044 800, and designated
them as belonging to the sink.
ing fund. These purchases are a
substantial compliance with the stat.
ute from the 4th Of March last.
/ have not felt myself authorized or
required to make any provision for the
time that elapsed after the passage of the
act and previous to the commencement of
the administration. With the excess of
means at my command, have purchased
bonds in addition to those purchased for
the sinking fund to the amount Of $55, 432,
600. These are held as special furd,
subject to the action Of Congress, and |
respectfully recommend that they be added
to the sinking fund, and that any further
purchases that may be made be so added
until the gross amount shall constitute a