The herald and mail. [volume] (Columbia, Tenn.) 1873-188?, 1874-12-18

purpose tho substitution Of a sound and sable
| medium Of exchange for an irredeemahle pa
per currency win tend TO restore conhdonce,
and thus cause revival Of industries and
| general business.
| future TO outsr upon the work Of returning
10 a specie basis, sud tho secretary feels that
he cannot too strongly urge the Rl1paon ~
the measures he has indicated. or -uch others
as will moro certainly lead 70 the desired end"
ECONOMY REcoNfafENDED.
The secretary recommends rigid economy in
public expenditures
NATIONAL BANEs.
After calling attention to various changes
needed in the national banking syatem. tho
report says that the facts and hgureE furnished
by the comptroller Of the currency fully eHtab-
ish the conclusion that there - u large
amount Of currency In excess of the legitimate
needs Of business, which would soTyo TO da-
pei the falacy that greater expansion OF cur
rency - the proper remedy FOR the general
depression and contraction OF the volume ot
business.
REVENUE PROM CUSTOMS.
Under this heading. the secretary TINS
s1uints st re-est8blislIing the duties on tca
and coffee: "On the impurtatipns of c0heo
in 1873. the rate OF three cents per pound
wpuld have Welded nearly 90 O00 0)l and two
cents per pound almost $4,000 600. The record
OF foreigR prices FOR coffee tends strongly 20
the conclusion, making due allowance Tor tho
effect OF short crQps on prices, that the duty
repealed bv the act Of 1872 was ad led 10 the
selling price abroad wish no advantage 90 c2u-
sumers here, while the country, az a Whoie'
has paid more th an before for the eutlre Stock.
The repeal Of the duty on tea caused htlie or
no reduction Of prices to consumers here' po1
an increase Of prices abroad
HNrERNNL REVENUE.
The receipts from informal rcvonue wero
Sl14, ,O7545G0S in 1873 aud @lO2. bii T6o5 in
2S74, a falling OF Of eli, $50 709l no., which h
attributed to various causes. Tho suggestion
Of the comaiis .iOnpr Of internal revenue that
the taxes now collected by stamps ON bank
checks, matches, perfumory, cosmetics, etc.
may DO abolished, aud compensation made
therefor by iucreanug the tax on spirits ten
cents per gallon. Is commended 20 the con-
sideration OF congress. by making his change
the items Of internal taxation would, the s'o-
retary thnss be considerably reduced, and
the system siniplRed without loss " revenue.
ENPoRrs Asp IMPORTS.
The total excess OF exports Of morchandi9c,
specie and bullion, over imports OF the same,
was s57 0j2, 400 during the past fiscal year.
COTTON CLAIMS
OF the claims that have boon presented TO
the department $50 have boon submitted FOR
decision, and acted ON az follows
Rejected d..................-... 4bt
Continued for further evidence aud still
under examination. on...................... lHs
Allowed. Observation-Disclosures. ........... -
or the aggregate number of claims pre-
sented there remain not set fully prepared or
submitted for final decision, Csc The claims
allowed as aforesaid were Tor tie proceeds OF
/ 9i6 bales AMI the amount paid ort on such
claims is sl3}.OlS27. .
There remains in tho Treasury lu. iaj S33.4i
On this account, against which claims 20 tho
,mouut nf SD, ,s3i 1904 have boon hled. IL
= submitted FOR the consideration 81 congress
hat tho treasure depa rtmeut is not u suitable
tribunal for the ultimate decision OF such
,lams. They belong properly tho secretary
avs. TO the couIt which are armed with
,ower 10 ascertain the tr,th, and are better
organized for this purpose thHu an eAecus'o
department. Of the government.