New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-12-08

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fully az I should like TO do If space
would permit, but shall confne myself to
few suggestions which / look upon al vital
to the best interests of the whole people. Coming
within the purvew Of tho Treasury" mean spe-
Gle resumption. Too much stress cannot be laid
upon this question, and hope Congress may BIO in
duced at tho earliest day practicable to insure the
contamination of the act Of the last Congress at ts
last session 10 bring about specie resumption on anu
after the first day Of January 1870, at tho urthest
1t would be great blessing if this could be cons-
mated even at an earlier day. Nothing seems 10 me
more certain than that full healthy and permanent
reaction cannot take place in favor of the Industries
and financial welfare of the country ultI we return
to measure Of values recognized throughout tno
civilized world. While VIC use currency not equiv
aent to this standard-the worlds recognized stan
dard-spece becomes c9mmqdiV' Inc
the products Of tho, soil. the surplus
demand demand for it, Under our present system we
should want none, nor would we have any were IL
not that customs dues must he PAID IN CON ana Io
cause Of the pledge 10 pay the interest or the pupi
debt in coin. The yield Of precious metals would
flow out for the purchase of foreign productions ana
leave the United States hewers OF wood ana hIa"olS
of water because Of wiser legislation on thc su9I'
of finance by the nations with whom we nave uea-
ings. | nm not prepared to say that can suggest
the best legislation TO secure tho END most nearby
commended. 1t will be source OF great grdtluCa-
ton to me to DO able to approve any measure Oh CO
gress looking effectively toward securing reslilp-
ton Unlimited imitation WOuIl prOoaplJ piiiIB
about specie payments more speedily than any regis
laiOn looking to the redemption OF Iegai tchdIS III
coin but it would be ut the expense OF hOhOr Ihc
legal tenders would have no value beyond settihB
present liabilities or, properly speaking, npunat-
ing them. They would buy nothing alter debts
all settled.
FINANCIAL SUGGESTIONS.
There are a few measures which seem to mo inn
portant in this connection and which commend TO
yonr earnest consideration: repeal Of 50 much OF
a. I Ton ct a. m
for debts contracted after date to be liked III tho
act itsolf-say not later than tho 1st Of January,
1877 We should then have quotations al real
values not ictitiou, ones Gold would no longer be
at . premium, but currency at discount
healthy reaction would set in at once, and with 1t
desire 20 make the currency equal to what IL pur-
ports to be- The merchants, manufacturers, and
tradesmen Of every calling could do business on
fair margin OF profit. the money to be received
having an unyarying value. LaboreB ana Oil
Others who work for a stipulated pay or salary
would receive more for their income because extra
profits would no longer be- charged by the capitalist
to compensate for the risk Of downward nuctua-
ton IN the value of the currency,
Second That the Secretary of the treasury DO
authorized to redeem, say not to exceed
S2.OOOOOO monthly of legal-tender notes, by
issuing in their stead long bond bearing
interest at the rate of 3 $500 per cent per annum' OF
denominations ranging from $50 to $1,000 each
This would in time reduce the legatendor notes to
volume that cOuld be kept al0at without demanding
redemption in large sums suddenly.
Third: That additional power DO given to the Sec
rotary of the Treasury to accumulate gold Tor maj
redemption. either by increasing tho revenue. cur
failing expenses or both. 1t is preferable to do
both, and recommend that reduction of expendi-
lures be made wherever it can be done without I'M
pairing Government obligations gripping the due
execution thereof. One measure IoT increasing Ihc
revenue, and the only one think oi Is the fesOra~
lion of the duty on tea and coffee. 1 htsc uulie5
would add probably SIS 5000 900 to the present
amount received from imports, and would IN no way
increase the prices pahd for those articles Dy tbc
CONSUMERS. The articles are the products OF e0un-
tries collecting revenue from exports and as we. the
largest consumers, reduce the duties, they PIopyI-
tiOnally increase them. With this addition 10 the
revenue many duties now collected ana when g!Fe
but an INSIGNIFICANT return for the cost of collection
might be renitted, and TO the direct advantage OF
consumer, al home would mention those articles
which enter into manufactures Of all sorts All duties
paid upon such articles directly 10 the cost o1 the
article when manufactured here, ana husJ
be paid for by the consumers. These dutles not only
come from the consumers at home out act az "A pro-
lection 10 foreign manufacturers Oh the same COM
pleted articles IN our own ana distant markets.
viii suggest or mention another subject. beng the
problem OF how to enable the secretary OF the Treas
ury to accumulate balances. lt Is tn devise some
better method OF verifying claims against the Gov
criment than at present rXists through tie Cont OF
CLAIMS especially those claims growing out OF the
Late war. Nothing Is more certain IMAM mat very
la percentage OF the amounts passed ana pald are
c her WHOLLY fraudulent are far IN excess ol theIca
.uSseS sustained. Tho large amount ~ losses proven
on good testimony, according TO existing laws, by
atidayits of fictitious or INSCRIPTIONS persons, 10
have been sustained on small farms and plantations
are not only far beyond the possible yield OF those
places for any one year, but, as every one KNOWS
who has experience m filling the SOL, and VINO has
visited the Of these sp0latlons, are IN many
instances more than the individual clalmal 6 were
ever worth. including their personal and real estate
s. sol lsf.slaa Ia
submitted 70 Congrcss at an early day, wall contain
"a detailed history of awards made and Of claims
pending Of the class here referred to.
TIE WAR DEPARTMENT.
The report of the Secretaryof War, accompanying
this message gives "A detailed account of the army
opcrat for the year just passed, of expenses for
maintenance. &c, with recommendations for legis-
ation to which respectfully invite your attention.
% some of these | invite especial attention:
First The necessity of making 100000 Of tho
appropriation for tho Subsistence Department avail
able before the beginning of the next fiscal year.
without this provision troops at points distant from
the supply production must either go without food,
OF existing laws must be violated. 1t is not attended
with cost to the Treasury.
Second: His recommendation for the enactment of
a system of annuities for the families of deceased
officers by voluntary deductions from the monthly
pay of officers. This, again, is not attended with
relieve much distress which every old army officer
mas witnessed in the past, of officers dying suddenly
or being killed leaving families without even the
means Of reaching their friends, If fortunate enough
to have friends 10 help them.
THIRD: The repeal OF the law abolishing mileage
and return to the old system.
Fourth: The trial with torpedoes under the Corps
of Engineers and appropriation for the same should
war ever occur between the United States aud any
maritime power tOrpedoes Will DC among. If not the
most effective and cheapest auxiliary for the defense
Of harbor and also in aggressive operations that we
can have. Hence 1t is desirable TO learn by expert
thrIr hest lion and nnnllrntOn we'll