The Lake County star. [volume] (Chase, Mich.) 1873-current, 1874-12-17
Report Of the Secretary Of the Treasury.

Report Of the Secretary Of the Treasury.
The report of Secretary Bristow takes
strong ground in favor of specie payments.
1t recommends tina repeal of the legal-tender
act at a fixed day as to contracts thereafter
made, and except as to official salaries and
the ordinary expenses of the Government
under existing appropriations. The Secre-
tary recommends that authority be given for
the immediate issue of convertible bond
and bearing low rate of interest. He asks
that day may be fixed for the resumption
of specie payment not more remote than
three years.
At the end of that time the Secretary to
be authorized to raise gold by selling bonds
to such amounts as may become necessary to
keep the Treasury in condition to redeem
greenbacks as presented. 1t is recommended
that the fractional currency be replaced by
silver, and to accomplish this the Secretary
desires to set all the minis at work coming
silver; and that, as rapidly as it is produced,
the fractional currency be recalled and de-
stroyed, beginning with the smallest denom-
nations. The Secretary also asks that coin.
ing gold be made free in the United States,
as it is in London, in order to prevent the
expectation of bullion for coming.
Upon the question of tariff, the Secretary
without entering upon much discussion, says
at present it is only necessary to treat it
purely as question of revenue, and not one
either of protection or free trade. In the in
| terest of business he does not think any
changes should be hastily made, and il Con.
gress desires to revise the present rates, he
recommends that commission be appointed
| to take the whole subject into consideration,
with instructions to report to the next Con-
| gress.
Great economy is recommended in ex-
penditures for public buildings. The Secre-
tary recommends that Congress go over the
appropriations and estimates for these works
with great care, with the view of reducing
all and wholly suspending others. He ex.
presses the belief that the needs of the
Government do not require such elaborate
and costly structures as have of late been
erected, but that palmer, at the same time,
substantial buildings will answer every pur-
pose, and save many millions.
He thinks there is needless extravaganza
in furnishing public buildings, and that
much greater economy should be practiced
in all directions in this matter. He has
transmitted estimates which have already
been carefully revised, but he earnestly re-
quests Congress to unite with him in scan
ming them still more closely, with view to
their further reduction.
During the past year the three steam ves-
sells in process of construction for the Reve-
nue. Marine at the date of the last annual
report of the Secretary, have been completed
and put in commission. They are wooden
vessels, of excellent model, thoroughly
and admirably suited to the work required
of them. In the design of their steam ma
chinery special pains were taken to intro
duce the latest well-established improve
ments to secure speed and economy OF fuel.
There being great differences of opinion
among engineers as to the relative value of
different types Of engines, and it appearing
hat lI tn1 af,.II Ia1
to use different engines in these steamers,
the boilers, screws and hulls being the same.
Upon their completion, at the request, and
with the cooperation of the Navy Depart
ment, trials on scientific basis were made
of their steam machinery, the report of
which has been published, and will, it is
believed, be found of great value.
These three vessels are of about 250 tons
each, and have displaced four old ones hav.
ing an aggregate tonnage of 1920 tons.
Their completion practically accomplishes
the reorganization of this branch of the
service, which has been in progress during
the last three years, upon the plan recon-
mended by the Commission appointed De-
cember Is, 1869, whose report was submitted
to Congress May 26, 1870. lex. Doc. No. 80,
41st Congress, I'd SESSION. Fer nearly all
the old slow and unwieldy sailing craft, and
the large steamers Of heavy draught and
complicated machinery, which were lily
adapted to the requirements of the service,
and expensive to maintain, small steamers
of light draught and good speed have been
substituted, effecting reduction in the ton.
mage Of the feet of nearly 1000 tons; redu-
cling correspondingly the number of men
employed, and otherwise lessening the ex-
penses of maintaining the service, while its
efficiency is greatly increased.
Equally important changes have been
made in the character of the official corps,
through the removal of incompetent officers
and the institution of a rigid professional
examination of candidates for admission.
| Constant improvement has attended the
progress of the reorganization, and the ben
efts already derived indicate even better
results than we're anticipated.
There have been erected during the past
year TWENTY-FIVE new life saving stations, .as
| follows Five on the coast of Main, one on
the coast of New Hampshire, five on the
coast Of Massachusetts,, one on the coast of
Rhode Island, three on the coast OF Vir-
| ginia, and seven on the coast of North Caro-
lima They are completely equipped, and
were manned for the winters service on the
first of the present month. Contract has
been entered into for the construction of six
stations on the coast of Maryland and Vir-
Charles, under authority of the act Of June
20, 1874, and arrangements will be made for
the two other stations between these capes,
on the coast of Delaware, as soon as posses
sion of the sites selected for them, which are
the property Of the State, can be obtained.
When these stations are completed and put
in operation, the Atlantic coast, from Quod-
dy Head to Cape Hatteras, with the excep-
ton, perhaps, OF the vicinity Of Point Ju-
dith, will be well protected. South Of Cape
Hatteras nothing Is needed, except the
houses Of refuge provided for by the act
above referred to. Early steps will he taken
for the building Of these. Sites have been
secured for the thirty stations authorized
for the great lakes, and plans and specifca-
tons for the buildings are being prepared.