New-York tribune., 1872-12-03

T6c Toductou in taxation since the close OF the war Is
est4matcd 10 have hcon;
In internal revenue: ..... 49,, ,o
hy Tie act 81 @ March 80; SSooeS 90
Ry tue acts OF Slarh 81 iSs and Jal !Soo1 90
Ey the sct OF ally IA lN,t. S.y 30 So
Total Of internal revenue s2s6'i'0~ 90
hy y 9as aS ss0s ss Il @ Sy II H. is and jc isa @ %
Total Of customs seoo9a,Il ~
A total reduction " Sc2S5OiIl.
THB SINKING FUND.
sine, +ho institution OF the sinking Fund IN March,
1863 sd in accordance with the act Of Feo S 1851 'heIe
has been purchased this account up TO aud including
Inn, Il ts- so so7 6o in bonds Of the various issues
known A. Fvetwcnties az net cost in currency OF
kools - an estimated cost ia gold Of s94o97 2is s.
In addition the purchases for the sinking m lnnd 4
AT net coSt 10 curreueN Of Soss 49, or an estimated
in gold Of SiS&ot So Ane SSsi 81 OF sSg ~, -, on e
- f Nt ,to mo average cost in gold OF the whole
SO 1T T ~ ,,,5ses mn 10 and Including the last
d 0f sentcmbcr vas 9L64 per 100 In this connection
w. rt' Sioh furnish elaborate details the money
operations aud accounts Of Government.
OUR CARRYING TRADE.
The condition Of the carrying trade with foreign coun-
tries Is always subject OF interest and at the present
moment 10 is one Of sooitude. The imports and exports
Of the United states, excluding gold and silver
amounted 10 63 FOR the fiscal year ending June
So S2 and Of Rs vast trade only 2si per cent was IN
American vessels; in the year 1850 nearly II per
cent S our INIT tofHe' IN 1st h hSd fallen to 4s per
ce in a per cent and in ls7l to less than SIS per
eT;irg trse TrohSbly exceed sooOo0CO year, Of
which less Than oneEird is earned under our own dag
articles used In the construction OF American vessels
has gwen encouragement TO shipbuiding' Dat
inadequate. wnen consider that nearly three
fourths the foreign commerce OF the country IS un1er
10 MAJ hat
Tile speedy change unless the Government saa aot
at once and ~ A9eTal ana Somprehen%ye ~ & Sp' f
England during the past year favor the Govern
sae 10 natural causes should not lead trust the
future 70 the Of those causes but should Dduce
pen tt we cannot regain control OF the direct trade
between Europe and the United States but there Is an
Immense hed 10 be occupied upon the Paeinc
Ocean and in the South Atlantic. England controls
tre markets OF the world by eontIoing the Sn Snan
wonderful impetus VIII he given 70 the agIiealtura %
i"@rease of oar com aercaf marine. Merchants in
distant countries must purchase g9ods AT poiuss
mnneiatiln and When such Communication exists with
one county only the cost Of merchandise becomes u
there Opportunity Tor the advantages of competition
Hence great producing country can eoId to establish m
lines OF steamships upon the ocean as the
indirect ben, fits will much exceed tie cost
OUR FOREIGN COMMERCE
The details of our trade with foreign countries as rep
resented Dy the made TO the statistical bureaus
are also unsatisfactory. From these returns 1t appears
that The imports Of merchandise for the fiscal year end
ing jane 80 1874 were 9s5957, and the exports esti
mated in gold we're s444,O4e,os6, showing balance
against the country OF s1s2asle9l This balance
tie soJ OF Jane, ISL the value of goods remaining
Is72 IL was s22 showing excess al the close OF
xe nave bslSnce based upon the actual Consumption
n he chuntry OF $l2s 2Ss Prom tins further re-
ducou should he made Of $e1S3i5, being the excess
g exports the imports OF gold After these dednc-
tGus there still remains adverse balance OF 59
This balance has been met probably by freight on
merchanase carried In American vessels pfOnts on ex
ports made account OF American merchants ana ship
per the sale Of bonds abroad and investments IN the
United States 10y Inhabitants OF other countries. 1he
exports OF merchandise for TIE year loi2 were US s3
less than Tor toe year lsi de S SI Te d % Se
nrearms, manufactures Of leather Illuminating oil and
sklus, bacon, hans. lard, leaf tobacco,
nlsEy niucr articles There Increase Of exports
Ga every branch Of manufacture except cotton leather
and firearms. Tue decrease Of 0Br exports IN wheat
cotton 81 a5ocO; gold and silver sii COO
iOJ; firearms, s2OOoO0O; manufactures OF leather $780,
100 Illuminating Oils. S3r5OOOoo and beef: s2OoOOU0
toffec; SlSocoOo In sugar; nearly 100000 in tea
nearly ssOcoOO0 tin plates more than tl7N0OOO In
torres Of irou 10000 in manufactures Of eotton "a
ooOOOo in manufactures Of SIX and about Hooooo IN
sented ar aforInG basis for legislation. but rather
because they are exceptional ia character and not likely
70 be repeated.
TIE UNITED STATES HpTs.
During the last year therough examinations have been
made al mint Philadelphia and Of the branch
ints at Francisco and Carson City. and exhaustive
reports on the condition Of EACH upon several
questions OF general character connected with the
mint service made by Dr. Lindermsn and Prof. Torrey,
and 20 be printed for the Of the Department and
congress From these reports II appears that the
sars ,Se commercial value Of silver has deprecated
about cent as compared WITH god and s use a.
aud some other countries. The financial con
dition OF the United states IA ess prevented ~ tpt
am Of opinion that upon grounds OF public policy nc
coinage should be limited 10 commercial purposes and
designed exclusively for commercial uses with otheI
nations. The intrinsic value OF q metallic currency
Should correspond TO It's commercial value, as metal
should used only for the coinage OF tokens redeeDa
ele BY ths ooVefnmgnt az "sn ILL -, ntnrs ~ i,
impossible 20 issue coin redeemable In gold without
becomes consd fable holders win present the silver foI
redemption and leave IL in the hands OF the Government
should he adopted OF Issuing silver coin irredeemabe
bat whose Intrinsic value should correspond to gold the
or@senee of a deprecated silver currency not re
ceabie BY Government nor curreutin the channels
SenonInatons are less oonvenieDtshan paper. and are
subject msny other serious olectons The provision
Of mutiaed paper money 10 much more ample than Tor
ulery aud think Il practicable through The PostOmet
Whole country sisI Re suppiied with fresh issues
fractional currency Taerefefe In renewing tae recon- m
Mint bin, ] suggest such alterations as WI
2To Ss @ ensSs q eS Hs 9s dT e ooase W Of %
silver dollar that shan be as valuable rs the
e@n dollar u used generally in trade with China, aud +
now cold at a Pftmlem OF about per cent over 10.
4 rapidly Increasing such coinage viii at furnish
market for the raw material aud facilitate commerce
between the United states and China.
ME EATIoxAL BANK CURRENCY should BE RESEwED
It's no exaggeraton to say that ueeessity exists foI
+. new Issue OF national bank notes The reasons foi