, 1874-12-08

BY the monthly etasement of the public debt
pauel June 80, 1871. the reduction OF the dobt
Was aAown to bo sl.7s0, ,472.d1. Tho difference
between :his and tho pfRceding statement Is
th,ls explained:
The monthly debt-statoment is made up at
tho close OF busluesB on the day Of its dato,
aud embraces ouly tho moneys officially report
ed to tho Department at the time Of its Issue.
whereas the foregoing annual statement Of re-
ceipts aud oxpond!turoB includes revenues which
wefo deposited at tho different piacoa Of depogit
throughout the country within tho periods cov-
Of cd bS tho accounts. aud ,'uascartained at tho
Tho books from which tho annual statement Of
receipts md expenditures ia prepared are usual
| ly kept opon for period OF forty-6Ys days, 80
~ to l,lendo ut tho date of closing tho acco1lnts
atl tlo revenues which may have been deposited
within tho ynar which the statement represents
Tho diGorou:o betweeu tleso two statements
arises from the dfgerepce Of dAtos ut which they
Ere mado up, and by . comparison OF
| taom ~, regards the GOSH 10 tho T2oas.
lie last fiscal yc4r 1t wil be soen that by tho ao-
nl1al statement Of receipts aud expenditures
tnore was Il gain Of Sl.051 ,975.at representing
| revenues in oxoeBa Of thoAe known at tho tilne
| OF preparing tho 1nonthly statement, Which,
| mcitt Of receipts and expenditures, will chow
| that no difference exists, except III tho manner
| OF thoir preparation.
| Tue tables accompanying this report furnish
I details Of tho foregoing statements aud nc-
| couAts.
| aErusp1Aa THE NATIONAL DEi1.
On assuming cuarge Of this Department, June
! 8, 1874 tic Secretary found tho balance Of tie
! per cent loan authosized by the acts Of July
Il 1870, en1 inn. 20. 1872, shsn unisauod. to bo
During tl,e month Of June proposals woro re-
ceived fran several parties desiring to negotiato
tneso bonds, but they Haro not satisfactory. and
| were consequently deollnett.
| ft>, FIN ftny NJ 1n1V Glrnn1nf YnA saA11a5 hv
tho Secretary, inviting proposals, and in 10
spouso thorotu bids iroin Various partisH ut homo
end abroad were Ieceyed, Sdv tho nggrega!o amonns
| Of which WIS 575. .eSs 65o. Or this amount
| ch5.00o,G0u tho folus psopoeal ol 1iessrs. n. u
Uothachild Il Sous Of London, and Atcasrs. J. t.
| W, Ealignnn a. Co., Of Nov York. The domen+
| tic bids III par aud above, which wero accepted
by the Department, aggregated Sl0, lis, 550. and
tloso At loss than PR, which woro rejected,
Tho proposol fyr e55, 900, 900 excluded the ao-
oeptsnco ct all othey bids, md provided tlat the
fora Aug. 1. 1874, aud tho remaining sA5, QUO, oo0
at their pleasure, IN aoycral successive inAtail-
,ncnss, prior 10 Fob. !, 1875, also that they
| should beya tho option OF the ontire balance Of
tho 6por conf loan, 6b9 until tie espira;
that tho Secretary ahou1d 4oep an agent in Lon
! don to deliver uaw tlyes and receive payment
therefor Tl.ia proposition waa modified, and
| OIL the aotlI dizzy Of July q 0onIfaot wan cnt8fau
| into bstwoen tue Secretary md Messfs. August
Belmont Co., OF New York. on behalf OF n.
| ii. pothsahill t. Rons, Of Lousou. Eng, aud
aHsociaten. and Mcasrs. J. aud II. Seligman /:
Co., OF Nou York, for Themselves aud aa1ooiatos,
fov the negotiation Ut 345, ,00o,9 200 OF the per
cal,t hoyds tho contracting parties having depoa-
| lted WITH tic Uuited Btates Treasury 4 por cent
of tha arlot1nt subscribed for, as guarantee
far tue fulAlln,e,lt Of their agreement.
;rne conlltions OF tito contract are aubstan.
tially aa follows: Tho contracting parties 70
have tho option Of tho balance Of the loan, viz!
eI22, ,BS9, ,da0, until Jun 81, 1876; to be allowed
| one.ouarter OF per cont commission upon tho
amorus taken; they agreeing to subscribe for
ttfteen millions OF the before. e.lAentlonol amount
-s46. .QU0 QO0-on tic first day OF August. 1871,
| and 10 AubBoslbe for the rumatntng amount
$50 0Cu 000-at their pleasure, in amounts of moi
luss thou iyo millions each, prior to tho 91st day
pf January. 1875. The contract alau allows the
parties tho e1clusiyo right to snhscr3bo for the
ron,nlndor or a,ly portion OF tho por uent bonat
authorized By tho acts oi Congress aforesaid, BY
giving uotioo thpreof 10 the Secretary OF tho
Iroaaury prior to Jan. al, 1870.
The as1con,ont, on the part OF tho Secretary
Of tho Ifoaaury. With The parttes before n,cn'
ttoneu, il to issue ealia Of evon dateB With tlo'
subscriptiou1 for the redemption OF au cquiYA
lent amount Ut 6 per cent $40 bondB, MI provided
by tho not Of Jaly Il. 1870. Tbs aubscrlborI
Agroo to pay for aald por cent bon1H, par ant
ittereat accrued to tho lato OF maturity Of oaol
call, In gold coin, unltod States coin ooupons, o.
any Of the par oane Gao houd4 pAilsa 2or 70