The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-12-08

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DEPARTMENT OF STATE BUILDING.
In the month Of July last the building
erected for the Department Of State was
taken possession Of and occupied by that
Department. l am happy to say that the
archives and valuable papers OF the gov
eminent in the custody Of that Depart
ment are now safely deposited and pro-
perly cared for.
THE NATIONAL TREASURY.
The report of the Secretary OF the
Treasury shows the receipts from
customs Tor the fiscal year ending
June 80, 1871, to have been Sl63,-
IOS S33 90, and for the fiscal year ending
lime 30, 1873, to have been sl5l, 1917
100 rs. a decrease for the last fiscal year
Of S5,33G, Ill "a, Receipts from internal
revenue for the year ending unc ~
1874, were SlO9, A69,7Si 90, and for the
wear ending June 80, 1873, were SllG,-
0O7 ,i93 Is, an increase OF SIl60I ,IOS U.s.
The report also shows u complete history
Of the working Of the Department Tor the
last year and contains recommendations
for reference and for legislation
which concur in, but cannot comment
ON so fully as ! should like to do, ifspaec
would permit, but will cOntlnC myself to
a few suggestions which | look upon as
vital TO The best interests Of the whole
people, coming within the purview Of the
treasury, | mean specie resumption, Too
much stress cannot be laid upon the
question and hope Congress may be In
duced ut the earliest day practicable to
insure relief to the hewers OF wood anu
the drawers Of water because OF wiser
legislation on the subject Of finance by
the nations with whom We have dealings
| am not prepared to say that
can suggest the best leglsia'
lion TO secure the end most heartily
commanded. 1t will he n source OF great
qualification to me to be able to approve
any measures Of Congress looking towards,
resumption, Unlimited imitation would
probably bring about specie payments
more speedily than any legislation look
ing to Inc redemption of legal tenders IN
coin, but 1t would be ut the expense Of
honor, The legal tenders would have no
value beyond settling present liabilities
or, properly speaking, rCPudiating them
they would buy nothing after the debts
were all settled There are few meas
ures which seem to me important in this
connection, which ! commend TO your
earnest consideration A repeal OF so
much Of the legal tender acts rs makes
these notes receivable for debts contract
ed after date to be fixed in the net itself
-say not later than the first OF January,
1877. We SHOULD then have quotations
at real values, not fictitious ones. Gold
would no longer be ut Il premium, but
currency nj discount, A healthy re
action would set in at once, and with II q
desire TO make the currency equal to
what il purpOrts to be. The merchants,
manufacturers and tradesmcn Of every
calling could do business on a fair mar
gin Of rrolit. The money they receive hay
ing an unvarying value, laborCrs and all
classes who work for stipulated pay or
salary, would receive more income, be-
cause extra profits would no longer be
charged by the capitalists to compensate
for the risk Of downward iluCtuOtiOn in
the value Of the currency.
Second-That the Secretary OF the
Treasury be authorized to redeem-say
not to exceed two million dollars month i.
ly Of legal tender notes by issuing in their
stead long bond bearing interest at the
rate Of 3 2j.lO0 per cent per annum, Of
denominations ranging from 500 TO 81 900
each. This would in time reduce the
legal tender notes to volume that could
be kept nllONt without demanding re.
sumption in large sums suddenly.
Tkird-Tbat additional power he given
to the Secretary Of the Treasury to nc.
cumnlate gold for the final redemption Of
currency by increasing the revenue or
curtailing expenses, or both. II isprefera-
bic To do both, and recommend that re.
duction OF expenditures be made WHEREBY.
er IL can be done without impairing the
Government obligations or gripping the
Hi
due execution thereof. One measure for IN.
creasing the revenue, and the only one |
think, Is the restoration Of the duty on
ten and coffee. These duties would add
probably $lSOOO,O00 to the present
amount received from imposts, and would.
in no way increase the prices paid for
these articles by the consumers. These
articles are the products Of countries col.
Letting revenue from exports, and us We,
the largest consumers, reduce duties they
prOpOrtionAlcly increase them. With
this addition to the revenue, many duties
now collected, and which give but an in.
significant return for the cost Of COllcC.
tiOn, might be RENTED to the direct
advantage Of consumers nj home; ! would
mention those articles which enter into
manufactures Of all sorts. The duty paid
upon such articles gocs directly to increase
the cost OF the article when manufactured
here, and must be paid by the consumer.
The duties not only come from the con.
sumcrs at home, but net ms protection
to foreign manufacturers OF the same com.
pleted article in our own and distant
markets.
WAR CLAIMS.
will suggest or mention another sub.
jcct bearing upon the problem of how TO
enable the Secretary Of the Treasury TO
accumulate balance, and that Is to dc.
wise some better method OF verifying
claims against the Government than nj
present exists through the Court Of
Claims, especially rs to those claims
growing ont Of the late war. Nothing IL
more certain than that large percent
age Of the amounts passed or paid are
partly or wholly fraudulent, and are far
In excess Of the real losses sustained. A
large amount Of the losses, proven on
good testimony, according TO existing
laws by the nliidavits OF fictitious or I'M.
scrupulous persons, 10 have been sustain.
ed on small farms and plantations, are
not only far beyond the actual yield OF
those places for any one year, but, As
every one knows who has any experience
in tilling the soil, and who has visited
the scene Of these spoliatiOns,arC in many
instances more than the individual claim.
ants were ever worth, including their
personal and real estate. The report Of
The Attorney General, which will be sub.
mittcd to Congress at an early day, will
contain detailed history Of the awards
made on claims pending OF the class here
referred TO.
THE REPORT OF THE SECRETARY OF WAR