The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1874-12-12
THE TREASURY.
Synopsis OF the Report of the Secre-
tary Of the Treasury.
lie FavOrs Resumption OF Specie Pay
ment and free Banking.

NEW YORK, December IA Wash.
ington special says Bristow, in his re.
port, says the sinking fund is over s.,
000,00D behind. The secretary not
only takes strong ground in favor OF
spacie payment but sets forth def.
mite plan for reaching the same. He
tender act ut u fixed day, as to con-
tracts, thereafter made, and except as
to official salaries and ordinary eXpen-
ses of the government under existing
appropriations. The secretary recon-
mends that authority be given for the
immediate issue of convertible bonds
bearing low rate of interest. He asks
that the day be fixed for the resump-
ton of specie payments not more linn
tied than three years. At the end OF
that time the secretary to be author
lied to raise gold by selling bonds in
such amounts as may become neces-
sary from time to time to keep the treas
ury in a condition to redeem greenbacks
as presented.
The secretary recommends free
banking as part of the plan for the re-
sumption of specie payments, but this
branch of the subject is not elaborated.
1t is recommended that fractional cur
rency he replaced by silver, and to ac-
complished this the secretary desires
to set all the mints at work coming
silver and as rapidly as it is produced
fractional currency 10 be recalled and
destroyed, beginning with the smallest
denominations. The secretary asks
that the coming of gold be made as
free in the United States as it is in
London, in order to prevent the eXpor-
tati0n of bullion for coming.
The secretary does not regard the
treasury department as the proper
place for the adjudication of cation
cases. They are for most part of u
complicated character and require the
taking of much evidence and judicial
investigation. He therefore recon-
mends that all cotton cases be with
drawn at once from the jurisdiction of
the treasury and turned over to the
courts.
Great economy Is recommended i'll
the expenditures for public buildings.
The secretary recommends that con-
gress go over the appropriations esti-
mated for these works, with great care,
in view of reducing and wholly sus-
pending others. He recommends that
all varieties of government notes,
bonds aad stamps be done exclusively
at the treasury department.
Concerning the internal revenue the
secretary recommends that the tax be
taken off of bank checks, watches, cos
metics and drugs, and to meet this loss
that an additional tax of ten cents per
gallon be imposed on whisky. This
will raise a revenue little greater than
is now received from the articles emu
merated.
The practical workings of putting
tea and coffee on the free list has been
fully examined by the treasury depart
ment. Carefully preps.. ed tables of
prices in foreign markets and prices to
consumers for period subsequent to
the taking off of the tax show that,
while there was a decrease of reve-
nues on this account, the removal of
the tax simply added to its use in for
eign markets, and has not benefited
the consumer here in the least. The
secretary recommends the restoration
of this tax.