American citizen. [volume] (Canton, Miss.) 1864-1890, 1874-12-19
The Report Of the Secretary Of the
Treasury.

In HIS report the Secretary Of the Treasury re-
eapiiulates the Transactions attending the re.
taken mp all former bids and hold options for the
Gee res o until Feb l. The sinking fund is over So
strong ground in favor of specie payment, but
sets forth q definite plan for reaching the same.
act at a fixed day. As 70 contracts thereafter
made, and except a. 70 official salaries and ordi-
nary expenditures of the Government under e1-
listing appropriations, the Secretary recommends
that authority be given for tho immediate issue
of convertible bonds bearing low rate OF inter
than three years, at the end Of that time the Sec
bonds to to such amount: as may Become nsces.sry
from time to time, to keep the Treasury In condi-
recommended that fractional Currency be re-
placed by silver, and to accomplish this the Sec
Rotary desires to set the mints all At work coin.
Is produced the fractional currency be recalled
and destroyed, beginning with the smallest de-
Coinage Of gold be made free in the United States
as it IL in London, In order to prevent the ex-
portation q bullion for coinage In .eea hnd to
and stamps, the Secretary recommends that the
whole be done exclusively at the Treasury De-
machinery, obtained at great cost, and all the
needed facilities It can perform the WORK
At the same or leg. Cost tnan P Pr s1.
press IL considered. Aside from these minor
considerations, the Secretary regards the qnes-
they can be legally Terminated, be recommends
the printing division Of the Treasury.
The Secretary recommends free banking as
part Of the plan for the resumption OF specie pay
ment, and this branch Of the subject IL not elabo-
rated
Concerning internal revenue the Secretary
recommends that the tax be taken on bank
checks, matches, cosmetics and druge, and 10
meet this loss an additional tax Of ten cents per
revenue little greater than is now received from
the articles enumerated The practical workings
Of .ss ird on tni tres
fully prepared tablss Of prices in foreign markets
and price: to consumer: for z period subssquent
country Lost from 100000 to STAG 900 from
the decrease Of revenue ON this account the re-
foreign markets and has not bsnedted consumers
here in the least. The Secretary recommends
The attention Of Congress lie called to the great
danger TO the revenue attending all attempts to
modify the penalties which have heretofore ex-
force. The Secretary 10 no believer In the system
OF moieties and does desire Its restoration In
Whether pny benetis has followed certain modia.
cations of penalties for tho violation of customs
The Secretary does not regard the Treasury De-
partment rs proper place for the adjudication
Of cotton cases; These are for the most part Of
much evidence, and Judicial Investigation. He
therefore recommends that all cotton cases be
Treasury and turned over to the courts
Upon the question Of tariff the Secretary. with
ont entering upon much discussion, says at pres
ent 1t II only necessary to treat 1t purely as .
question &C revenue, and not one either Of pro-
lection free trade In the interest Of business
he does not think any changes should be hastily
made, and II Congress desires to revise the pres
emit rates he recommends that . commission be
appointed to take the whole subject into consid-
Grafton, with Instructions to report to the next
Congress.
Great economy IL recommended in the expendi-
lures for public buildings. The Secretary recon-
mends that Congress go over the appropriations
and estimates for these works with great care,
with view Of reducing some and wholly sns-
pending others. He expresses the belief that the
elaborate and costly structures have Of late
been erected, but that palmer, and At the same
time substantial, buildings will answer every
purpose, and save many millions He thinks
there In needless extravagAnce in furnishing pub
lie buildings, and that much greater economy
should be practiced in all drec lions in this mat
ter. He has transmitted the estimates, which
have already been carefully re- .sed, but be ear
nestly requests Congress to unite with him In
scanning them still more closely, with view to
their further reduction
The force of the department has been reor-
ganixed and diminished exactly in accordance
with the laws and appropriations of last session,
but the Secretary thinks the lowest limit Of
performance Of public business has not yet been
reached.
The Secretary does not believe the present con-
Of aid in any form to private enterprises of any
kind