Wyandot County Republican. [volume] (Upper Sandusky, Ohio) 1869-1903, 1870-06-17
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(; plus gold on hand, which, according
to the statement submitted to us, on
the 1st or May amounted to $115,-
525,2I3; but that is subject to de
'luction of $39, $40, 400 Of gold be-
longing to private parties, leaving
ofgoidbelonging to thsGovernment
essl ,6s4,Sl3. This gold was collec
led under the act appropriating and
setting apart the gold revenues for
the interest and principal of the
public debt. 1t might now be safely
used for funding the debt. But i
avoid all discussion ofthe funding
bill and all measures that look to
tile reduction of the rate of interest.
These subjects we have elaborately
discussed in the Senate, and although
the action of the Houselis long de-
fayed I hope we will yet agree upon
some measure that will enable the
Secretary of the Treasury to reduce
this burden Of interest. look to
the gold held by the Treasury as the
basis Of any funding system thatcan
be proposed, because the Govern
ment when it engages in the opera
tion of funding must be very strong
indeed.
Then it is also necessary to pro-
vide for the three per cent, certifi-
Gates, which, under the currency bill
as it passed the Senate, must be re
tired. They can be provided for out
of this accumulated gold and the
surplus revenue that viii accrue be-
fore the measures propose to indi-
cate shall operate This gold will
form also the basis of a resumption
Of specie payments. Therefore, we
cannot count as all element of rev.
enue, or source OF revenue, the
amount Of money we have on hand,
That money is specifically pledged
for other purposes and can only be
used either in the retirement of the
three per cent. certificates, orin the
retirement of greenbacks, or in the
payment of a certain portion otthe
bonded debt of the United States.
The only resources we have for the
large sum that is necessary to be ap
propriated this year, estimated by
me at the lowest calculation at$315,-
900, 900, are the taxes collected in
various forms from the people of the
United States. -..-.,.... ..'.-.s
RECEIPTS FROM PUBLIC LANDS.
.a, And here when we approach this
question am glad to say that we
are able to estimate with great
deal more accuracy. It is much
easier to estimate the result of taxa
ton than it is the process ofexpen-
oiture. There are four different heads
T. Of receipts under our Government.
The iirst aud least of all is the pub
lie lands, which yield say,S500,000,-
0c0-more than formerly. l beg
leave to differ from my colleague
Mr.. Thurmanl who made very
able speech some weeks ago to show
that the grants OF public lands to
railroads tended to impair the mon
, ey revenue of the Government from
the proceeds of the public lands.
The facts, if they be examined into
will show directly the reverse.
Whenever we grant land to q rail.
road, we raise the price of the re.
served sections, and those reserved
sections are at once brought into
market, so that we sell the same
amount Of land at double the price
and the reserved sections, instead Of
being settled under the homestead
act or under the pre-emption laws
e. are in many cases sold for money
q The result is that last year we re
q ceivcd from the proceeds of the
: spoblic lands in money S5,000,000
! and that has been the operation o
all the grants of lands for railroads
II do)not now mean to go into the
general subject of the disp position o
1.-the public lands I merely speak o
I, it as point of revenue. 1t is mos
probable, therefore, that we may re
ly upon the same amount from pub
lie lands next year, and that is th,
amount estimated by the Treasury
@ Department.
MISCELLANEOUS SOURCES OF REVENUE
There are miscellaneous source
of revenue to the amount Of S2S,
f 100000. These are in every sens
of the word miscellaneous. Til
principal items are, the premium o
the sales of coin; the fees fror
United States consuls, 1.-THE consu
lar system now being selfsustair
ing) storage, rent, labor, and dray
age, under the administration of th
custom laws fines and penalties fo
violation of the customs laws; th
n fees on letters patent, which wer
u $650,000, or more than the expense
% of the Patent Office the taxes levie
81 on the circulation and deposits {
national banks. say $4,000, 900, { ths
is not collected through the intern;
revenue office, but directly by tt
sei Treasurer of the United States 18th
= homestead fees, which yielded I
19i 100000, going far toward defray
ing the expenses of surveying Il
public LANDS, and perhaps do pa
the whole expense; steamboat fe.
under the steamboat law, which vie
us 100000; and various unenur
Grated sources, S3,300,0 900; maxim
an aggregate of $2S,0OO,OOO fro