Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1872-12-03
secretary Bou,weII,s Rcport.

ent" and the organic variety, is curious if not
an edifying study.
Secretary BOuiwcII's Report,
The secretary of the treasury begins his re-
port with stating that the efficiency of his de
partment is due largely to the clerks and other
employees, 5000 Of whom are employed in Wash
ington, nearly 400 of these being employed con-
stantly in handling coin, notes, and money Sc
curities. Some of these, he thinks, should re-
ccve better pay. He has completed the negoti-
alton of 2OO,OOO,OOO Of ) per cent bonds and
the redemption of $500, OOO,O 600 6 per cent bonds.
Further negotiation of 3 per cent bonds can be
made upon the same basis, bat he recommends
that the registered per cents be made convert
bic into coupon bonds, as this would give them
additional value.
The total net receipts for the fiscal year end
ing june 80, 1872, were 1914 JOG, 1857; and the
total available funds for that year were $751;
O42, 57S. The total net disbursements were
1917 AIS PIG, including payments to reduce the
debt. The reduction of the debt, tina: year, was
800 800, 25S; and to this must be added SO $780,
952 of old unpaid interest Nov. 1, 1872, the
annual payment of interest on the debt was
S24,1S7 ,S51 less than on the 4th of March, 1869.
The total ne receipts for the first quarter of the
fiscal year beginning July I, 1872, have been
S1O0,S15I84.
His estimates for the fiscal year ending June
So 1874 are as follows: Receipts from customs,
$500 1000 900; from internal revenue, S103 OOO-
600; from other sources, 917 100000; total,
$500, 300 OOO:-expenditures, s3OS, 1923 ,256, i'll
Guiding interest and everything else. The
average net cost, in gold, of all the bonds pur-
chased for the sinking fund and to reduce the
debt, has been little over 945 per cent. Vari-
Gus tables accompany the report, which furnish
elaborate details of the money operations of the
government.
The report regrets the present condition of
our carrying trade; and says, 2Si per cent only
of our imports and exports for the year ending
June 80, 1872, was in American bottoms, where
as, in 1860, Il per cent of it was in American
vessels. The earnings Of vessels engaged in our
carrying trade are probably over S1000OO,OO0
year. The secretary thinks this matter demands
further attention from congress. The govern
ment should act at once 10 a liberal and COM
prehensye spirit. The rise in the price Of iron
and labor in England, works in our favor so far
as concerns shipbuilding; but to restore our
shipping business, the government must act;
for an immense field is opening to us on the
Pacific; and an increase of oar commercial
marine would greatly benefit our agricultural
and manufacturing interests. 70 have our
freight carried in foreign ships increases tue
"baiance of trade" against us by the amount
paid foreign carriers.
In speaking OF the mint and its branches, he
refers to the exhaustive reports on them by DR..
Linderman and Prof. Turrey, which are to be
printed for use. They show that the mint is in
excellent condition.; and that the commercial
value Of silver has declined about per cent, as
compared with gold, during the last ten years.
This depreciation is likely to continue. Its rela-
tion TO a currency redeemabe in gold, is dis
cussed; and he favOrs discontinuance Of the
coinage of silver for circulation in this country,
bur recommends the coinage Of silver dollars to
facilitate commerce with CHINA.
He says the deialcaton in the treasurer's
Office in New York is S1S5,131, the embezzer
being James j. Johnson. He recommends the
purchase Of the remainder Of the square on
which the new post office building stands, in
Boston. He has declined to complete the pur-
chase Of lot in Philadelphia fora government
building, because the cost is made too great for
the appropriation; also, in Cincinnati, he wants
more room for slowing the books and papers OF
his department, and recommends the erection
Of a brick fire proof building for them.
The revenue marine consists OF q steam and
6 sailing vessels, carving IS guns, and manned
by 1913 officers and $50 men. This service has
constantly improved in efficiency and in the
economy OF its management since the summer
of 1863. At that time a commission was APP
pointed for the general and professional exami-
nation Of all the officers employed, and upon
tbeir report 80 were discharged, and the service
was greatly improved. He describes the i'm
pOrtant services required Of this marine, and
recommends an extension OF the naval pension
laws to those employed in il.
On the coasts OF New Jersey and Long Island,
seven Of the old lile-saving stations have been
repaired, and 81 new ones built Nine have been
erected on Cape Cod and one on Block Island.
Since July ! 1871, p vessels have been wrecked
on tile coasts Of New Jersey and Long Island;
aud their officers aud crews were all saved by
means Of the lile-saying stations. lie recon-
mends an extension Of such stations along the
coast near Cape Hateras.
The marine hospital service has been main
tanned at a saving to tins government OF more
than $4,000 as compared with the cost last
year The receipts have increased and the ex-
penses diminished, although relief has been fur
nlshed ID greater number OF districts, and the
salaries Of some medical officers have been in
creased. The improvement is due to more
rigid scratiny Of the applicants for relief, and
greater vigilance in collecting the hospital dues
The charge for relief to foreign patients is sew
enty.dye cents a day, although the actual cost
is about one dollar. The secretary recommends
that power be given hin 10 tx the charge within
certain limits according 10 the expense incurred
NJ the hospital where relief is furnished. He
also recommends as more economical aud bet
yer lor the patients than permanent and eXpen-
sNe buildings tue erection Of pavilion hospitals
o. wood, designed TO last only ten or fifteen
years, aud then 70 be destroyed aud replaced by
others at New York, San francisco and PITTS.
burg ''''
Inc steamboat inspection law Of 1871 hasuot
Deen 10 operation long enough to test ia value
luly, uut tue result is generally satisfactory
some alterations, not changing It's character
materially, have been suggested by the suppr.
ylslng inspector general, aud bin Including
these and perhaps others, viii he prepared nv
the department A bill 10 amend ani consnii-
date the navigation and customs collection Avs
Transmitted 70 congress during the last session
Is again recommended b the attention OF con.
gress
lhe attention Of the public is nov naturally
turned % the future financial policy OF the coun.
iy. lne war caused three great changes 10 lhe
gaaless and baanclal affairs Of tue country
iH't. h-afN customs duties were imposed upon
heiehahdlsei aud thus tbe nation entered upon
Of1Aa sfs en 1t protection; second, Tue g0y-
NuMint is'hea treasury notes for general circu-
ial,ll - currency, and prohibited backs Of
issue " tate authority; third system Of ma
lionAl nanks was established Tic wisdom OF
iAe'e measures speaking generally, has beeu