, 1874-12-08

IL AIMGIlEHll EuAu@E4(Ss
A aU.ceut silyer coin being required for tho
p,,rpuso Of convenience II, nnkin; c!fange, tho
cnnctm,tnt Of a law authorizing .llo coluayo Of
p!cco ot that denomination Ia recommended.
Tho ostiu'ato Of tho Director Of tho Mint shows
gniu In Bpeco aud bullion In tho laat two ilacal
years Of about 39S, ,ooo ,0oo and tho atock Of
apncio In tho couutry to ho about s108. 0Do. .00o.
Tile estimated iuoroaso OF coin anil bullion IL
gratifying, bcng ono OF tho oyidoncoB OF grail
ual recupelsltion Of the country from tho cifccts
Of destructive oi7il strifo, aid, In connection
with IN annual production OF aboat e70,n0000o
OF tho precious motalH, hfIorls cucoutagenlons
that etock Of coin may, within reasonable tino
md with favorable legislation, accumulate 10 a. ~
extent sulscicnt to enable resumption Of specie
psymoita to DO undertaken and maintained.
There would appear to bo no doubt that
bullion converted into coin will as q general
rulo. remain longer in tho country than II 9!s m
Our policy should. therefore, be to encourage
the coinngo Of both gold md silver.
With roHpact to tho chnrgo made ,shaor exist
Ing laws for tho coiuage Of gold, which; IN this
country, is tho standard metal. H. no auaot @ .ons
to .croato nn adverse oxcllnGo, a"d eanHes
bullion to 10 expcltea TO London, where no
charge for coinage Of gold is made: ,--..
Tic expcdcucy OF continuing tho Charge In
tho proaent tluaucta' condition OF tho country
Tho attention II Congress is invited to tho
explanations OF tho Director OF tho Mint III cou-
uection with tllo course Of silver bulliou.
With riCT 70 tilO IuhuH3pLlOH OF 9rGClB Day.
montn, it is Important to manufacture largs
quantity Of ailvcr coin TO tako the place OF Lilo
fractional notes, and, rs its preparation as tho
1nnts will require considerable time, it is reeon,-
mondcl TINT authority DO given tho Secretary to
commence tho manufncturo Of coiunEc, beEin-
ming with tho. smallest denomination, and to
gradually withdraw tho fractional notes.
Tho system Of computing Bterling exchange
on tho fictitious or aRsnmel par OF shll!lnga
End ntspeneo to tue dollar, and tho eqni'alent,
10 mad Ind 1+cnt nv
for long period, ceased on tho 3lHt Of Deccn-
ber last, under the propiaona Of tho act Of
March 0, 1872 Which hxcd the par Of exchange
between the United States and Great Britain 1T
81. a.ee.G1 to tho pound, TINT sum being the
value in United States money Of a standard BOY.
erolgu. compared with tho puro gold contained
tp tho standard gold dollar I'll tho United 6tatcB.
:, Tho new syHtcm llas many, advantages over
tho old ono, especially IN simplicity, ard having
m absolutely correct basis.
REVENUE FROM CUSTOMS.
Tho past and present condition Of the receipts
from cuatoma constitutes tue genera! guido 10
estimates and recommendations respecting that
branch Of tho general revenue.
For tho year ending Juno 80. 1874, tho decline
In receipts from the previous yenr waa consid-
erable>-fallng OF from 4l88,0So,522 to 9lG3,-
los, ,893, loss Of neary e25. 000,0O0. Tho re-
ceptB for tho first quarter of tho current fiscal
year wore 81 500 900 1esa than for the correspond
ing period Of tho last year: The receipts for tho
months of October and November, 1878, woro
S21 ,243, $685.. For tho Same months Of tic cur
feaS yoaf tnoy we're W. M ~:
Inc act or Jnho u lef1, aan'itteG large classes
OF manufactures to reduction OF 10 per cent OF
tho dutias prescribed BY previous statutes, With
uut oeslGnaainR sPeciacaiiy the art'c1es 70 winch
the reduction ahould apply, leaving much room
.or constfuceion 10 tne practeaI aplhcatioh OF
Ine AZ 70 artlcleB OK nc" aes'Gn OF OF pafticnar
lowed by system Of extreme pressure for re-
ductson, claimed through changes OF c1assi!lca-
non or astsees' ahu aasahtaso was songnt to DO
ahHli VI ofely ooupttui cousttaet1on OF III parts
Dnf1nR inc yeaTa 1878 and 1874 there WIS
t;ooa ae9i euecsea III 1Ie way OF feouctloh OF
aoties thfough changes III fofm Or component
Iaatenale or mere'anuiao Intended TO answer
tae san3o pUlpohe III consumption tnnt articles
.,aafgoa WIN 4iGslor fate OF guy naa pforious'
!! ansHesou. very !aTeo Annsslsutaohs OF ma-
1os1alh otaer Loan wool ia9o oeeh Ihago lor ian-
t,os PtHiaoa1s ,,, pusg tno unts e1n.seu on WY"
tus. snAs, nnensl aug cottoha nave oeoh slml-
Erly lnalta'ea. "nne me sruo rae o. outy %as
Et olnets, " c!alns tnela ~ supleus ~ 10 ~ 1atos
of dutY ptescrlpeo IN INC ee,s OIL 1etA-62 rs
I'anniactuleb o. n.l1Gu mato1la.s. ..,.f,
some poEt5!9!na ut tne !9auctlons .uuh cia1u.ea
s:2 aomi1tea ~ tle rovlslon q1 tne aEatulcs Of
lSa, wu!le otneLs are le}ectea az not properly
a'inoE1zeo. u nns peen ascefta!neo. as t!o fe-
s'l' o. eafetIl ea!enlhtlon' thet concession OF
Nv teaueea uaselncasiuas t,aaaea a y. Ivy iaiRe
tEs year 1874 "onla pave Ieoncea tho re revenues
~ !os as 70 setlous.S e!noartass tho IreasufS-
lA9s urgency tor reauetlon IL not now 30 great,
asa ihefo y moie Eonefa! aeanieeecnce ~ re-.
soaaplo atlu proper c35stIuctleu u tdo n!atutos
y 1noae Eno Wouio NJ anY tlno Dc Gontehs
Sasaan e9na! soaIas!rasaon ol saen !a%s. ltlat tne
sposa VI .uo Uyopa's.neEs 70 loaael tneIi equal
~ 1naoln ~ taelf appncattion, o. 1ar ~ prac-
ana . "l1 LII, tue a1stcr o. tne ian
a,.t 70 aamialstea sneln Will suca ehe1ey as shan
;eaye Y nono IN aouot as 10 tneir trne moaning
~ y ne epplea..on, OF ne IeYlaea etasu1os qqes-
asas oa eons'tuc1lon oten ar,se. eu: lao 70.
pals.9a. nae ltGo,y annoupcea e9o pilheipies 81
.; u i ~ ~ W 70 appcao'o Hna m
o @ oa,,s ~ ns Ae1 - % " saGens t o1
:uc eouss ~ aoaSs y en.ettalnea tnas sne po
i 9s te y the n tn as respeet
~ W. psa 10y .es. "a lesiow Low 20 mcA sney mGy
~ ;a;n naees neie a,anaea 70 onif n
~ nope ~ shaIs't's aIHu'sssenco ~ .ne inten1
~ - !ams, WusIu, equMuy uuaolGou. cauuo! op
pleluuaiia1 asIanss any easu Ct secton
,ro ~ Go.ora a ~ s7a G5a teau
1oa thsp m o Sep.epel, rnt naa t, noe To-
ovu = unusna1 ti ae1y ~ a ausma'as .ho cao?s
81 ~ Sa ~ snv alu ay,es.'c
~ tIuA tI, s,',,ni n .o!uuee
- ,su ~ w. uaaui a1,si. atIsti ~ @ M sn m1'ns tue
snu ras 1,crshonsa ~ J, aT au lGr co, %