The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1870-09-09

d
This annual saving of interest re-
. presents a capital of Fom' Hupdrde
and Forty-One and Ttco- Thirds MI
lions of Dollars { 44l8 millions, and
as a measure of relief, is equivalent
to the reduction of the debt to that
amount; and is wholly due to the re-
istored confidence and improved ere
dit incident to sagaeious legislation
and a vigorous and honest execu-
ton of the laws and faithful applica-
tion of the revenues reduction
due, not to increased taxation, but
to the prudent and enlightened
craftsmanship of the present admin
istration and the Republican major
ity in the Forty-first Congress.
VALUE OF UNITED STATES SECURITIES
at the close of the administration of
President johnson and at the close
Of the JfrsJ fiscal gear oftde admin
tstratioH Of General Grant coBepar-
Ell. ~
The United States 5-2O coupon
bonds of 1862, which bonds are re-
garded in the markets of Europe
land America as the standard for
comparison, were quoted in London,
Frankfort, and New York, during
the week ended July 8, 1870, at the
following averages, respectively
In London at an average of 80 IS
| In Frankfort at an average Of 96 5-16
And in New York at an average of Ill is
The average price of gold in New
York for the week having been Ill
| l4-5.
These quotations being carefully
reduced to their equivalents in the
gold currency of the United States,
give the following values: In Lon
don the premium of the bonds was
1892 per cent; in Frankfort, 9S.1 per
cent; and in New York, 1914 per
cent of their face value.
During the week ended March 4,
1869-which was the closing week
of the administration of President
Johnson-the same class Of United
States securities were quoted in
London and New York at the follow
ing averages:
In London at an average of 81 I-l6I
In New York at an average of III 3-4I
The average price of gold in New York
being l3l 3-4
These quotations reduced to their
Equivalents in the gold currency of
1.-THE United States give the following
values: In London so. Q per cent
of the face value, and in New York |
I89. 4 per cent. of the sace value, |
from which it appears that the price |
of the United States securities have
ladvanced-since the close of John
lson's administration-in the London
market from SO. to so. 2, and in |
the New York market from a gold
value Of SO. 4 gold value to SO. 4, an
increase of value of about IL perl
cent, (10.4 per cent. in London, and
liz per cent. in New York.
RECEIPTS AND ExPENDITUREs-1S69
AND 1870.
The receipts To- the last fiscal year,
to wit, for the year ended 30 June,
1870, were as follows:
From Customs slol,53s,3 ,37l A
| Internal Revenue lS4S99, ,756 40
Sales Of Public Lands 3,350,4S1 76 /
Miscellaneous sources 28,466,S64 "a
l-s.a. i,.ff7i- rt .,r 7-7-------7
Total s4l1,255, ,477 63
The net expenditures of the Gov
Iernment duringthe same period were
For Civil and Miscellaneous s54,23I66s 56
War Department 57655,675 40
Navy Department 2l,7SO,229 81
Indians and Pensions 3l,74S,I4032 4
Interest on Public Debt 127,702,33s O3
.AHiE..-t FHsIEL -
Total -f. .i..,... s292,l24,O52 IS |
Prom which it appears that the
receipts during the year tur
were - s411,2j5,477 50 i
during the same f.'
period a. 292,l24,Oj2 IS