The New York herald., 1871-12-05


Naval estaSlsGmear. NEUTRALITY-SUSPICIOUS.. Iss4eOss
Indian anRiis. 5,445 6l7
pensions...... ....................... 30.40,oOo
ment sloi, 500
Pubic works. under Inferior Department 244 500
PuDlc WorkS, under War Department. H. 600. 662
punmc p.n WORKS. under Navv department.. l,4S3,lOo
ment. .................. 2a6O0
Postal OBSERVATION-DISCLOSURES service. 6.44.ooi
Permanent appropriations Ias.2si .s7s
snhlny Fund. ~, 500. $50
Interest upon capital sinking Fund.-. 6,7Ss, ssa
Total expenditure for fiscal year 1872 ssoI 7oS
Inese estimates snow balance OF $5r. a6S ap-
u tne payment Of the principal OF the deDt
a: IN the estinnates for the next fiscal year have
nvs S. IN the receipts the premium on gold
WHICH may 0e sold nor In the expenditures tae pre-
a. sn'un @ macn may 6e paid on bonds to be purchased
make In reference to T-T 7'--T'
rHE REDUCTION OF TAXES
Keep Ia Wow two important facts; drst that the
Of as o the A. eass S on sna 3
ne Impaired; ana. secondly. in the change OF
S ss sssses. ne Ss1Se small G
try. While do not undertake TO state
precisely the causes wacn have contributed 10 the
pubic prosperity, there Is no substantial reason Tor
guesnonng the truth oil the statement thas the last
nve years nave been the most prosperous IN the MIS-
own Affairs ana without parallel the aaira OF any
other government. It Il practlcabe TO dispense
with al revenue from Internal sources except mat
derived rom stamps, spirits, TOBACCO and matt
liquors. These sources should furnish for the year
H.. .2s SO reveaus of about o1e hundred and ten mil
Hons OF u0tsars. making reduction OF taxes vi six
customs under existing laws. ana from from lands .Hs
to about two hundred and thirty three
millions more, making total revenue for that year
not including the amount payable on accounts or
the sinking fund.- are estimated at $273O25.77a II
10 TINS sum be added $5o,00O0lO for payments on
account or tne pubic debt, including the amount
due Oh the SINKING fund, there remains ba.ance
Q! about f2l0J00)O within which reductions may
De made ID the revenue from customs. This amount
ADDED 10 the reduction propos Il under the Internal
revenue laws Rives total reduction or So 900, 0OO
In this view irespectluhy recommend to the consd-
Grafton OF Congress Tie reduction OF the duties
on salt to the extent OF atty per cent; the duty
pitunin JUS coal to fiity cents per ton; the reduc
uou VI the duty on IA nide5 and skins and the re-
mova OF all utleS from large class OF arcies pro-
duced In other countries wacn enter into the arts
produced In the United States, and tue re -enue
from which Is incOns,del able. Sucn list, with the
preparation aud viii be submitted to Congress. Tne
removal OF duties from large Class OF articles Used
manufactures, and the reduction Of inc duties upon
coal lurnsn an opportunity for moderate decrease
Of tae rates Oi duties upon tnose products whose
cost Will De diminlshei by these changes.
GOLD AND UNITED STATES cURRsNCY.
Il Wnle n0hiny rs the consequence Of legislation
could he more disastrous to tine pubic prosperity
an ~ p1cv Wca should destroy Or seriously ls
Is still possible, by wise aud moderate chan ,es
adopted to tina condition OF business and labor, to
reduce the rates oil dunes with benefit every class
Of pe0pc. Tne average premium on gold lOr the
year 1873 was s95t per cent; for the year ls69 1t
Ass Per cent PREMIUM and 10 Tor the the rss q eleven
months OF The year 1871 1t was IL per cent.
Inc value OF tae paper currency Of the country
during the years 1859 und 1870 was apparently ap.
precated by the increased use OF paper money IN
the SOUTH out chleny py the establishments OF the
the LIST Ot January, 1871, the last named Iact was
fully accomplished, and since tnat time the appie-
to tie Increased demand for 1t ln the business
affairs OF the country. The dfercnce between the
sane OF paoer money a. 'ns moment
MAY may ,,ani be at.rlDused ~ tue later ,, cause,
or paper currency which can be used anu It's value
" par VIVA. sga 10 oaa rssn q e %
upon the suo)ect, that the amount OF paper money
IA circulation IS stall 30 great that It capnot ne
maintained III value az par with coin. There are
two modes Of rclef one is TO reduce the volu,no )
Of currency, as recommended BY me IN my annual
report submitted TO Congress IN DecemDer, 1863.
The other mode Is TO await the growth OF the
country aud the increasing demands OF business
cnlet means oi securing the end sought, without q
reduction In inc volume o the currency, would he
With this object IN view, Steps nave oeen taken
already by tins department. for the purpose OF
tanning whether it Is prIctlcAbie TO substitute paper
may be made In the laws relating 10 national banks
tending 10 tnat result, wnich Will not Affect uaia-
vorably the general character OF tue system.
FRAUDS ny GOVERNMENT OFFICERS.
1t Is my duty to call The atteuIion OF Congress TO
the importance OF abUltshlng the system ol shares
in moetIes as far as the Dement'S inure to revenue
officers ana other persons officially connected with
In my last annual report, and q statement was SUBJ
nitteu to Congress showing the amount received ny
oncers Of CUSTOMS together with bill increasing
Their salaries without any increase Of appr0pria-
tons from the Treasury, the sum now pad from
mOetes being quite sufficient TO place the entire
During the last fiscal year the offices OF Col ector
and surveyor oil the Port OF New YORK eaca re-
Naval ocs Inc SUN OF Of sas. os In most ' os tne tae
Cases the onlcers do not perform special services en-
titlng them 10 the amounts grahted, and importers
ana Others. whose acts were made the subject OF
investigation complain, and, think with Just rea-
son, that the agents OF the government have pccu
tions or tile law. The government ought 10 paw
falr salaries. and rely upon the good faltn OF IT'S
onicers for the performance OF their duty.
One OF the diiculties which the department has to
meet frequently, Is that customs OnlcerS have an
interest IN the proceedings for the discovery or
fraud, tue settlement Of cases or the prosclut on
VI them. which Is drerent IRON the real ncress OF
the government, anu rs necessary result the con-
duct Oi sucn officers Is open to suspicion both
the part OF those who are pursued by them ana the
government tncy ostensioly represent. II may he
Ia regard 10 inlormers VINO are not officers, making
II penal offence for any olfcer 10
er Ior aay share Of the proceeds OF the
ami giving to The inforer perpetual rignt o action
for the recovery 0i any money CT other valuable
thing pad given TO an officer engaged the DIS
cuvery or prosecution OF fraud or legal wrong
against the government
NATIONAL BANKS.
The report or The Comptroller OF the Currency
shows that Las banks have Deen organized under
the act approved July l., 1871, providing for the
issue of $5l,000,00J OF additional bank cir.
culation; ana that the sum or 5000
has been issuel. BY virtue OF the same
act the Treasury has redeemed &22 230, 900.
OF the three per cent certificates then IN circulation
leaving tine sum or $25 4yO.s0O now outstanding 1
take the liberty OF suggesting that appears W me
be wise TO leave the distribution OF Tie circulation
authorized by SAID ncs as II now stands. Should
the Statcs that nave already received their proper
ton O circulation be authorized to take what may
remain only brief period Will elaDse before q
demand Will Ue made from States with q limited
circulation for an increase It seems prudent there
fore, 10 retain the balance OF the 45l,D00001
for distribution IN those states now having q
claim to IT., on the DasSs OF equality Of app0r-
have nnon ,bc vhne @ ansed "cra,,v snnrs