The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1871-12-22
SECRETARY BOUTWELL's REPORT.

SECRETARY BOUTWELES REPORT.
The annual report of the Secretary Of
the Treasury shows that the total re-
duction of the debt from March 1st,
1869, to December LIST, 1871, has been
SIT, 211 1872 10, and during the same
period the annual interest reduction
has amounted to Sl6.74l ,436 o.. He is
of opinion that a large reduction in
taxes will leave the country in q condi-
ton TO pay S50,000,O00 annually of the
principal of the debt. He thinks that
this amount of reduction should be &C
complished, and points TO the prosperi-
ty of the country and its credit abroad,
the facility with which its loans are dis
posed of and the advantageous terms
obtained, as direct results of the deter
mination of the country to meat its OBJ
legations promptly.
The revenue from customs in 1871
was $206, &c, 40S 05 against 194, 538, 374-
A in 1870. The cost of collecting this
has been 3.11 per cent, Sc, 560,672 81,
being a decrease of 90 per cent. on that
of the previous year and the probable
ities are that the customs receipts of the
coming year will exceed those of 1870
and 1871. The receipts for internal reve-
nue. were $143, O98, 153 SO, being S4,O3S,-
9S4 % less than the estimates. The net
receipts for the fiscal year ending June
80, 1871, were $685., 1928. 944 49,; the ex-
penditure, 1922, III, 1S8 25. The total
from miscellaneous revenues for the
year ending June 80, 1871, was $107,-
los, 374 60; and total expenditures for
the same period, excluding sinking fund,
were $50, 500, 1882 90. The estimated re-
ceipts for the remaining portion of the
year S25S 100000. The estimated ex-
penditures for the like period, except
on account of sinking fund, are $780,
SOC, 900, leaving balance applicable to
the payment of the public debt princi-
of II ,794, 991 68. The total receipts for
the fiscal year ending june 80, 1873, are
estimated at $685., 900, 600, and the total
expenditures at S301, 705,036 80, show
ing q balance OF S57, 294 1868 Oh applica-
BILE to the payment of the principal of
the public dedt, in addition to the sum
of $3.50, 1872 63 due on account of the
sinking fund. In these estimates the
Secretary does not include the premium
on gold which may be sold, nor. in the
expenditure, the premium on bonds to
be purchased in currency.
The Secretary agrees with the Presi-
ternal taxes is consistent with paying
S50,000,000 annually of the debt and
believes that the tax on liquor and to-
bacco should furnish for 1872 and 1873
a revenue of hundred and ten millions
of dollars, making a reduction of S16,-
100000. Customs revenue would make
1888, 100000 more. The expenses of the
government, not including sinking fund,
are estimated at $273,025,773 90, and
adding to this the $50,000,0OO payable
on the debt, would leave $20,OOO,OOO
within which customs revenue reduc-
ton may be made, thus affording to-
tai tax reduction of S36,00O,OOO. In
attaining this reduction, the Secretary
recommends that the tax on salt and
coal be reduced 80 per cent. reduction
of duty on hides and q general reduc-
ton in articles of import which are not
produced in the United States, and
which enter into our manufacture.
In discussing the currency, the Sec
rotary believes the amount of paper IN
circulation is still so great that it can
not be maintained at par with gold, and
suggests two remedies, contracting the
circulation or waiting the increased de-
mand of business. He recommends
for the second time that the law giving
customs officers shares in seizures be
abolished. From the report of the
Controller of the currency, the Secre-
tary notes that las banks have been Or
ganized under the act of July IL, 1871,
providing for 100000 of additional
bank circulation, and that of this SUM
S22, 333, 800 has been issued. By the act,
the Treasury has redeemed S22,230,000
of per cent. certificates, leaving out
standing S23,490,OOO.
During the past year the paper used
by the Treasury has been of kind to
defeat counterfeiting and since July l,
1869, S70,OOO,OOO of paper had been, all
manufactured, all of which is prop
OF the public buildings in Chicago, the
Secretary advises the erection of build
ing suitable to the wants of first-class
city. 1t is important that larger park
of land should be obtained either by
| addition to the present lot or by the
purchase OF another site. In every
case the site for building erected by
government for public uses should be
large enough to separate it from all
other structures, thus furnishing suffi-
cient light for the prosecution Of bust
ness, and adequate security also against
fire and the depredations of lawless
persons. 1t is hardly necessary to say
that in the existing condition of affairs
in Chicago, it is important that an ap-
preparation, available during the pres
ent fiscal year should be made without
unnecessary delay.
With the exception of Chicago, the
/ Secretary does not advise appropria-
| tons for public buildings, until those
| in process of erection shall have been
completed. He notes the satisfactory
progress of wrecking stations on the
Atlantic coast, and of the coast survey
he commends the necessary appropria-
tions for the Lighthouse Board gives
the details OF the Marine Hospital su-
pervision /; recommends the sale of rev.
enue marine steamers not needed and
informs Congress that the Department
is about to have built four small iron
propeller sfor the two ocean coasts. He
| reports that twenty-nine officers of the
navy were found incompetent on exam.
ination, and have been dismissed. He
recommends the establishment of 9
Mint Bureau; that provisions be made
for obtaining statistics of internal com
MERGE reports that the seal fishery OIL
the st. Paul and st. George Islands hal
been conducted according to contract
requests an increase of salaries fol
heads of bureaus and divisions in the
Treasury Department. He calls at
tention TO the propuety of having the
solicitor OF the Treasury and the soil
citor of internal revenue restored Il
their relations with the Treasury De
partment. Means will be taken to ex
tend competitive examinations for cler
ical positions.
On the subject of national commerce
the Secretary notes the returns for the
fiscal year indicate the passage OF on
commerce into foreign hands. He at
: tributes this to the damage by rebe
cruisers, and the substitution of irol
steamships. By various causes, Eng
lish ship builders have an advantage o
80 per cent. To remedy these evils tn
Secretary suggests the building of iroI
steamships, and since this is well-nigl
impossible for private enterprise unde
existing difficulties, he makes the fol
lowing recommendation:
, CATER careful consideration of tn
whole subject, 1 am prepared to advis
: the passage of law granting to per
sons who may employ in the foreigl
trade American built first-class steam
l ships of not less than 1000 tons burdel
each, an annual payment for the periot