The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1872-12-12
Report OF the Secretary OF the
Treasury.

Since the last annual report che business of nego-
hatng the sale of $780, 600 in pei cent bonds
and the redemption of $500, 600, 600 of per cent
have been settled by the accounting officers of the
Treasury. Further negotiations of per cent.
mer negotiations. think It expedient as means
of giving additional status to the bonds author
lied by the Funding act of July A. 1870 and addi-
bonds Of every issue shall be made convertible into
coupon bonds at the will of the holder. When
this privilege is granted the desire to convert them
OUR FOREIGN COMMERCE.
The details of our trade with foreign countries,
as represented by the returns of the Statistical
Bureau, are unsatisfactory. From these re-
turns it appears that the imports of merchandise
for the fiscal year ending June 3d. 1872 were $685.
595 orr and the exports estimated in gold were ND
046,OS6, showing balance against the country of
$182, 54s 991 This balance is in some degree ap-
parent, rather than real On the Both of June, 1871,
the value of goods remaining in warehouse was
$6S 1871 ,659 while the Both of June 1872 it was
last fiscal year Of Deducti GigT this eT
cess we have balance based upon the actual con-
urh 81 3 be made Of
845, being the excess of exports over the imports
mains an adverse balance of 500, SIS, $50.
The adverse balance has been met, probably, by
freight on merchandise carried in American vessels
profits on exports made on account of American
and investments in the United States by the in
habitants of other countries.
The exports of merchandise for the year 1872
were S13, 1913 less than for the year 1871. The
exports of wheat, flour, raw cotton, cotton manu-
features, gold and silver. firearms, manufactures
of leather, Illuminating oil and beef fell off $50 O66
325; while there gain of 1858, T67 1872 in the
exports Eof corn, furs, hides, skins. bacon, hams,
lard, leaf tobacco, manufactures of iron wood,
leather, and many minor articles. There was an
increase Of exports in every branch Of manufactured
The decrease of our exports IL wheat and wheat
-four was s12 600; raw cotton $37 900 000 man.
ufactured cotton, 1880 600; gold and silver,
Sill 600 900; firearms S12 006 600, manufactures of
leather $500 000 Illuminating oils, 900; and
The statistics of imports show an increase of
800 600 in coffee; 100000 in sugar; nearly
Sc, 0c0 in tea; nearly 100000 in tin plates;
more than $4,000 900 in raw wOol $40 0O0,0 900 in
pig iron; S10,OOO,000 in manufactures of iron
S50 600 in manufactures of cotton; $4,000 COO in
nanss G OF SILK and u
sented as afording basis for legislation, but
rather because they exceptional in character,
and not likely to be repeated.
COAST SURVEY.
The operations of the Coast Survey, as well as
those of the Light House Board. appear to have
been economically and efficiently managed.
THE REVENUE MARINE
consists Of 81 steam and sailing vessels, carrying
45 guns, and manned by 1873 officers and $50 men.
This service has constantly improved in efficiency
and in the economy of its management since the
summer of 1869. The cost Of maintaining the re-
marine has been reduced from 81, 293, 661
80, 1872
From the report OF the Supervising Surgeon of
the
MARINE HOSPITALS
it appears that branch of the public service is in
satisfactory condition. During the last fiscal year
13 156 patients treated in the several hospitals
OF the country at an average cost of about 81 cents
against total expenditure of the preceding year
OF Sass, 0S2 AZ, or an average cost per patient of
ished expenses for the last fiscal year compared
with the year next preceding. show a net gain to
period the number of districts in which relief was
furnished was greater than ever before, and the
salaries of medical officers at several of the prin-
cipal ports were increased The financial improve
mcnt shown is due largely to a more careful scru-
tiny Of the applicants for relief to the rejection OF
those who were not entitled under the law, and
also to the greater vigilance in collecting the hos
pital dues.
LIFE BOATS, ETC
From the appropriation Of $500, 900, made April
20, 1871, for more effectually securing life and
property the coasts of New Jersey and Long
been repaired and enlarged, and sixty-one new
have been built, and new apparatus, sufficient
for ordinary has been procured for the larger
number of them.
STEAMBOAT INSPECTION.
The act of Feb IS, 1871 to provide for the better
security of life board of vessels propelled In
| whole or in part by steam has not been in opera
ton sufficient time to test its value in all respects
but the result, in the MAN, is satisfactory The
| Supervising Inspector General in his annual re
| port, recommends several alterations in the law
| not affecting its character literally
NAVIGATION AND CUSTOM LAWS.
navigation and custom laws one of the best
means of realizing the benefits of the protective
| policy of the Administration.
| CURRENCY.
/ Under this head is rehearsal of the advantages
| enjoyed under the present laws controlling the
! issue and circubton of the currency of the coun
/ try 1t concludes as follows:
! The argumentin favor of paper currency, com
posed in part of United States notes and in part o.
| National Bank notes, is strengthened by the ait
which may thus be furnished in resuming AMI
maintaining
| SPECIE PAYMENT.
/ In the view am now about to take, I exclude
| the idea that the Government will ever abandon
the issue of National Bank notes and undertake the
/ issue of United States notes in their place. Th'
result of such policy may be foreseen. The PEG
pie deprived of the facilities for business afforded
by banks, would seek relief through STATE
! institutions. and. without much delay, Con
gress would eoncede to them the RICH
TO issue notes for circulation This concession
! would be followed by surrender by the Genera
! Government of all control over the paper circula
ton of the county The true policy VIII be foun'
in continuing the national banking system, with
out however, yielding an increase of its Issue il
proportion to the volume of Government paper II