Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1871-12-12
Secretary Boutwelps Report.


1871, has been S277 ,211, 1892. Is, and
during the same period the annual
interest reduction has amounted to
SIG, 1876 Oh. He is Of opinion that
large reduction in taxes will still
leave the country in condition to
pay $50 100000 annually ofthe prin'
cipal of the debt. He thinks that
this amount of reduction should be
accomplished, and points to the pros
perity of the country and its credit
abroad, the facility with which its
loans are disposed of and the adyan>
tages terms obtained, as direct re-
suits of the determination of the
country to meet It's obligations
promptly.
The revenue from customs in 1871
was s206. go, 406.05 against 1884,
538, 37444 in 1870. The cost Of COLI
Letting this has been 81 per cent,
Sc, 560,672,61, being q decrease of .09
per cent. on that part Of the pres
vious year (; and the probabilities are
that the customs receipts OF the
coming year will exceed those of
1870 and 1871. The receipts for in
ternal revenue were S143, 098, 153 60,
being 81, 048,984 go less than the es-
Inmates. The net receipts for the
fiscal year ending June 30, 1871,
were 1888, ,323, ga 80; the expcndi-
ture, 1922, III, 1873 25. The total
from miscellaneous revenues FOR the
year ending June 30, 1871, was S107,-
198. 374 60; and the total expendi-
lures for the same period, excluding
sinking fund, were $83 903, 1872 92.
The estimated receipts for the re-
naming portion of the year 1857,
600, 900. The estimated eXpendl-
lures for the like period, except on
account of sinking fund ARE 5000, $780,
600, leaving balance applicable to
the payment of the public debt prin-
cipal, for the year ending June 30,
1872, of $71,794,991 68. The total
receipts for the fiscal year ending
June 80, 1873, are estimated at $3.50,
600, 600 and the total expenditures
at 1901, 705, 036 80, showing a ball
ance 1857, 294 963 OIL applicable to
the payment of the principal OF the
debt in addition to the sum of 1885,
1872 63 due on account of the sinking
fund. In these estimates The Secre-
tary 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
President that the abolition of near
ly all internal taxes is consistent
with paying 100000 annually OF
the debt; aud believes that the tax
| on liquor and tobacco should furnish
for 1872 and 1873 q revenue Of a
hundred and ten millions of dollars
making reduction of $16,000,0 0C
Customs revenue would make $685.
100000 more. The expenses of tie
government, not including sinking
fund, are estimated at $273, 025, 773..
SO, and adding to this the S50,000,.
600 payable on the debt, would leave
500, 900, 900 within which customers
revenue reduction may be made, thus
afford a total tax reduction of $780,
0OO,OoO. In attaining this reduction
the Secretary recommends that the
tax on salt and coal be reduced 81
per cent; reduction of duty on hides
and a general reduction in articles o
import which are not produced il
the United States, and which enter
into our manufacture.
In discussing the currency, tht
Secretary believes the amount of pa
per in circulation is still so grea
that it cannot be maintained at pa
with gold, and suggests two rene
dies, contracting the circulation o
waiting the increased demand o
business. He recommends for tht
second time that the law giving Gus
toms officers shares in seizures bt
abolished. From the report of The
controller Of the Currency, the Sec
rotary notes that 145 banks have
been organized under the act ofJuly
II, 1871, providing for s54 900, OO(
additional bank circulation, and thai
of this sum $22, 1873, 900 has been is
sued. By the act, the Treasury has
redeemed S22, 100000 of 3 per cent
certificates, leaving outstanding 1923.
100000.
During the past year the paper
used by the Treasury has been Of q
Sind to defeat counterfeiting and
since July l, 1869, $40, 600, 900 Of pa.
per had been manufactured, all oil
which is accounted for on the books
Of the public buildings in Chicago,
the Secretary advises the erection Of
a building suitable to the wants of o
first-class city. 1t is important that
a larger park of land should be OBJ.
tanned either by addition to the pres
ent lot or by the purchase of anoth-
er site. In every case the site for q
building erected by government for
public uses should be large enough
to separate it from oil other struct.
ures, thus furnishing sufficient light
for the prosecution of business, and
adequate security also against fire
and the depredations of lawless per-
sons. 1t is hardly necessary to say
that in the existing condition Of af.
fairs in Chicago, it is important that
an appropriation, available during
the present fiscal year, should be
made without necessary delay.
With the exception of Chicago,
the Secretary does not advise appro-
priations for public buildings, until
those in process of erecting snail
have been completed He notes the
satisfactory progress Of wrecking
stations on the Atlantic coast, and
of the coast survey he commends
the necessary appropriations for the
Lighthouse Board ; gives tho details
of the Marine Hospital supervisor !;
recommends the sale of revenue ma
rine steamers not needed and in
forms Congress that the Department
is about to have built four small ir-
on propellers for tie new ocean
coasts. He reports that twenty-nine
officers of the navy were found in.