The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-12-10
THE NATIONAL FIN-iNCES.
Re port of the Secretary of the Treasury.

Secretary boutwell,, in his annual report IL
Congress. which was submitted On Monday, treats
first of matters oil adm.riltraion and then OF
measures Of public poi J, and gives very Clear
and comprehensive statement of the national
finances. In the first division cr the report the
Secretary compliments his various barcau ol
GERS. commends the report and administration Of
the commissioner OF internal revenue, &c. The
following arc the more important statements
given:
The revenue receipts have increased 81, ,43l, 333
for the Grst five months Of tlle present fiscal year
over the same period last year. which Is regarded
and announced as compliment to the ability ana
integrity OF the persons employed III Ina. Drallcl
OF the public service. Tne cost lor cohectlhG lhG
custsns dues was sl,00l,G47 less the last fiscal
year than the year previous. without any loss 0!
efficiency in the service, but on tNe contrary, II
is believed the means employed lor lne uetectiou
OF smuggling are better than ever pelore. Incl
dentally the appraisers department. Is co'uuhea-
ded In this connection.
During the last fiscal year S2s6,o.S were paiG
TO certain revenue officials and inlormers III cases
arising under the customs revenue laws. Iarst
nal revenue Office; tile policy upon whlcn THIS Is
done is that it stimulates officials to greater ac
tivity In discovering frauds; but IN many cases
frauds are not stopped IN the outeet, out aiioWeu
inure to the benefit of the officers ana lntormers'
instead OF checking criminal practices at the
outset.
The Secretary is clearly OF the opinion that the
government ought to rely upon pubic oihcers
for the propcr performance OF their duties, WITH
out stimulating them by any contingent aoVan-
tages lie recommends an increase OF the saia'
res OF customhouse officers; ana Tue aoolltioh
OF the syssem OF giving 10 them snare OF lncS,
penalties and forfeitures Will oc an audllionai
reason for the Increase OF SaluTleS.
There are row 81 special agents In the service
Of Tie department IL daily pay vi SdOS 80.
The organization OF the special agents AID as
sirnmen.s TO districts Is considered good ica-
turc of tie service. The Secretary gives con-
siderable space to "details concerning tue :nanii-
facture of government. note ana Donu papc' III
Philadelphia, the printing OF lnOaey anu oonns'
&c, the gist OF which has heretofore been given
in various forms.
In regard 10 measures OF public policy treated
of by the Secretary Of the Treasury, the follow
inc embrace all of Mr. Bouiwe!ls recommends
tions:
TIE DEPRECATED CURRENCY.
The deprccjation OF the currency Is due TO two
causes-trst 10 ln excessive issue, and, second-
ly, TO Ihc want of faith in the government; ana
The extent OF the influence OF lee HFsI-naned
cause cannot be ascertaincd until the second Is
removed substantially. Whenever our credit
shall be so much improved at nome ana ABROAD
that holders of our bonds are disposed 10 retalh
them even when the public MINI Is c%cilcd upon
financial subjects, we shall he able 10 Judge more
accurately tie extent 9f the over-ssue OF paper
money. IL is also true that the quantity Of cur
rcncy necessary for the transaction OF the busi-
ness OF the country cannot now be liked accurate
y Since the close or the war Inc wants oi the
States of the South have increased, and, consc-
quently large amount OF currency has been
withdrawn from other sections to supply the de-
mand there created. The amount necessary for
the purposes Of the South VIII steadlIy increase
for the next two years.
The construction of the Pacific Railroad is likely
to result i'll the substitution OF paper for coin by
the people on the Pacific coast. 1t Is probable
that the demand for paper for that purpose VIII
no; be less than thirty millions of dollars. As q
consequence very large quantity OF coin will be
wi!adrawn from circulation, and thus practically