The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1871-12-06
TREASURY TRANSACTIONS.
Extracts from Secretary BOutweli's
Report.

Extracts from secretary BOutWeiFs
Report.
In his report Of the conduct Of the
Treasury Department, transmitted by
the President TO Congress, Secretary
Boutwell, says:
The country has been prosperous
during the year now closing, and the
public finances have shared in the
general prosperity. During the fiscal
year ending June 80, 1871, the reduc-
ton Of the public debt was S94,327,-
764.S4. The total decrease in the
public debt from March 1st to Deem
Der lst, 1871, was S277,2ll,S92 l6, and
during the same period the annual
interest has been reduced SIC, al 1885,
04. The revenue for the year 1871 and
the receipts since the LIST OF July last
show that the time has arrived when
considerable further reduction in taxes
can he made, and yet leave the govern.
ment in position to pay S50,000000
annually of the principal debt, including
the amount pledged through the sinking
fund.
After detailing the receip:s and ex-
peuditures for the fiscal year ending
June 80, 1871, and the estimates for the
succeeding fiscal year, the Secretary
touches upon his project for the paying
of the public debt, principal and in
terest. He next reviews at length his
tariff policy, and then gives his sugges-
tons on the currency question.
In regard to perquisites, or moieties,
(official pickings) he thus illustrates
During the last fiscal year, the
offices OF Collector and Surveyor Of the
port OF New York each received from
moeities the sum Of S49, 295. go, and the
naval office the sum OF S4S, 1859. In
most of these cases the officers do not
perform special services emitting them
to the amounts granted, and importers
and others whose acts are made the
subject Of Investigation complain aud
think with just reason that the officers
have a pecuniary interest in pursuing
those charged with violations Of law"
The Secretary recommends that an
appropriation be made for a new issue
of national bank notes, as those now in
use are much worn and very success
full counterfeits of several denomina.
tons have appeared.
He alludes TO the necessity for new
Government buildings, to replace those
destroyed by the Chicago fire.
All the mints and assay offices are
nominally in charge of the Treasury
Department. but there is not by authori.
ty of law any person in the Depart.
ment who by virtue Of his office is sup
posed to be informed on the subject,
and no one on whom the Secretary OF
the Treasury can officially rely for in
formation or advice in the management
OF this important branch OF public
business.
Mr.. Boutwell, again calls the atten.
ton OF Congress to the Importance of
increasing the salaries OF the bureau
officers and heads of divisions in the
Treasury Department. Atpresent there
is great inequality and injustice existing.
The First Comptroller receives salary
Of $4,000 a year, while the Second Comp.
troller and other bureau officers whose
duties are hardly less important, only
receive $4,000.
The Solicitor of the Treasury is upon
a salary Of $500, while the Solicitor OF
Internal Revenue, whose duties are less
important, receives salary of $4,000.
The heads Of divisions in the Internal
Revenue Department receive salaries OF
$500 per annum, while in every other
branch OF the Treasury they are selected
from fourth class clerks where salaries
are Fixed by law at SlS00 a year although
for several years an appropriation has
been made from which the Secretary oil
the Treasury in his discretion has in
creased the salaries in his own offices to
$500 per annum. 1t is not an exag
geration to say that the head Of divis-
ion in charge of the loans, Of the war.
rants and OF the Sub Treasury accounts
occupies position in which the country
and the world are more concerned than
| in that of the Collector OF Customs at
New York, yet the latter officer receive:
more than $4,000 a year, while it is
with difficulty that the former is able
to secure the inadequate sum OF $500
In relation to the European syndi
cate, he says: II am informed by Judge
Richardson and such is my own opinion
that the most serious obstacle in the
way of negotiating the four aud fou'
and half per cent bonds in Europe Ii
the iuadequscy Of the commission
allowed"
After showing his want Of success II
inducing European houses to negotiate
his loan, he adds: II think it my dut,
to advise such an allowance fer com
missions upon the four and four and
half per cent. bonds as will secure TIT
negotiation of them with the least pos
si6le delay. 1t needs no analysis Of thu
subiect to show that the interests of tn,