Fair play., 1875-12-16

I'D
s. "a being 81 ,G22 .s56 .5s more than the sur
plus of revenues. The Secretary declares that ht
regards the requirement of law directing the
maintenance Of the sinking fund as second only
in importance to the payment Of interest on the
public debt. and that he will act 30. The Secre-
tary s able to announce that 70 100 600 Of pei
cents have been funded into per cents. He be
lieves the remainder can be refunded ''in accord.
ance with the provisions of the acts Of 1870 and
ISIS" But he recommends that further legisla
tiOn be had extending the time for the redemp-
the date of their issue. Oa the subject Of the re
sumption of specie payments the secretary con-
sumes much space. In order to insure resump
ton by the day 6xed by law-Jan.l l-791he
feature Of the greenbacks as to contracts entered
into after the first day Of January, 1877. Mean
time he also recommends that authority be given
him TO fund the legal tender notes with long time
bonds for email sums-as low as $5O-bearing a
low rate Of interest, say 4 per cent, and that
these bonds be made available 70 national banks
that this authority might be limited to 81 ~ ,"OO
per month. The Secretary regrets that he has
been compelled to make sales II gold, but neces-
sity has enforced him to the measure as n means
The number Of National banks organized up 70
the LIST inst. is 1907, Of which 2,'s7 were doing
business Oct. l Reports of the last named date
show their capital +, have been 5t4 SO cir
culatiOn, S3ls. .3O. 1873; deposits, 1854 $40 .6l9;
loans. $3.50, y. ISL; specie, including coin GER
tifcates. IS .0jO .3s9. Under the free banking
-,
Of national bank notes have been issued and $s,-
sf3 ,156 of legal tender notes retired. Under the
act of June 20, s4, which provides for the retire
ment of national bank circulation, and the sur
render Of bonds deposited as security by the
substitution Of legal tender notes, So $50 Is
Of such legal-tentier notes have been deposited.
OF this sum ]fI ,a37 ,5E has been paid out in re-
dempton of national bank notes, ami go, ,ZSS, :
642 remain in the Treasury. On account of the
silver resumption scheme s,243 .6a. ounces OF
silver bullion have been purchased. at an aver
and It has cen coined to the amountOf slO, 900, :
co., hut the Secretary declines to use it. He
says: ''FOr obvious reasons it has been, ami
yeSis, impracticabie to put or keep silver in cir
GU htiOn." The receipts from customs for the
yetrs ending June 10. le'4 and 1875. are
given, showing a falling OF in the latter
year Of 1886. l.34. The views Of the Secre
tary in support of q tariff tor revenue as
expressed in his report Of last year reiterated.
He refers to two evils in the collection of customs
duties, namely, smuggling and undervaluatiOn.
recommended. During the fiscal year 1873 the
cost Of collecting the customs revenue has been
reduced more than half million dollars by drop
ping employees and reducing the salaries of
others. Fines and penalties are among the
things that were, only So, ,5sl.75 having been
collected for the fret quarter of the current eral
year, on the basis Of which the falling off for The
year. as Compared with 1873. will be s9n.0O0:
This loss has been met by further reduction Of
expenses To the amount Of more than million
dollars per annum. But the Secretary doubts if
the reduction can be maintained without injury
to the service. The Internal Revenue exhibit Is
more gratifying than that Of customs. The total
receipts for the fiscal year 1874 were $i2 ,64,.
1853 while those for the last year aggregated
There was also an increase Of -. is:. 20 Tor
the months Of October and November Of this year
as compared with the corresponding months Of
1874. The subject Of frauds by the Whisky Ring
and their prosecution is discussed at length.
Reasons are given for the refusal to compromise
any cases of fraud. and it is declared that per-
sistent and systematic frauds will be visited with
the severest penalties Of the law.
REPORT OF THE SECRETARY OF WAR.
Secretary Belknap, in his report, says that the
year has been uneventful SO far ~ the Army is
concerned. Accounting t. the report We have
are employed in the indian country. As com
pared with the year preceding. desertlOns have
greatly fallen ID. there having been but .5ll as
against sos for the fiscal year 1894. The Sec.
3, 1859, under which all ''bands" were mustered
out of the service, and that Il military band Of %
musicians I've allowed to each regiment. He also
recommends the enlistment and organization Of
men for transportation service exclusively, rs in
the German army. He Also recommends the
still further disbursement Of enlistments Of
men Of family into the Army by providing more
stringent oath for that purpose. The >lgnal-
service has been kept up and extended. showing
good results. as the verifcation of q $40 per
cent. Of predictions ia an Improvement on pre-
Recommendation OF the Chi 1 >gnal officer that
the Signal Corps be oonsttut . bureau Of the
Department. Un,er the act II Feb IL. Is 5.
for the reliet Of gra.shopper sufferers: IS: los
children under ls years Of age in the States OF
Minnesota. Nebrask Iowa. Kansas. and the
Territories Of Dakota and Colorado, The enact.
ment Of u system of annuties for the families Of
deceased officers by voluntary deductions from
the monthly pay Of those holding commissions
in the Arm. is recommended and urged: The
estimates Of the Chief "f Engineers for the en-.
suing year in the aggregate are 81. %, :s74. OF
this sum ~ ,044 900 for fortfratiOns and
other works of defense, and $l4 .SOl loo are for
improvements If rivers anl harbors. An increase
of The appropriation for arming AMI equipping
the militia ;sagain fec 'mmendei. ltwas Z o..
900 in lsOs ami still r'm ,ins at that figure. The
present organized strength Of the militia is S4.-
s2t while the inorganic i strength is .Ol ,917
forthcoming the organized force wOuld he great
II augmented. The expenditures OF the Depart
ment (inciuding river and harbOr improvements)
foot up Sal 81 ,S75. ., being reduction of e..
O4s 1853 43 from the total Uf 1854. The estimates
for the ensuing year are $33 .452 1876. 50. The
Secretary recommends the restoration Of the old
system Of appointment Of post traders by Depart.
meat commanders.
REPORT OF THR SECRETARY OF THE NAVY.
Secretary R1sbesOn's relpOrt of the Naval Service
for the yeal shows that the number Of vessels Of
every class and description now borne on the
Navy Register Il n7, carrying ,la5 guns. and
l5a lss TINS measurement. or these many are
sailing vesseis Of little value as part Of the
efficient force for either the cruising or fighting
purposes Of the prs mt day. The steam vessels.
as distinguished from iron clads and torp do
ships, number g., Ot which q are tugs. OF the
remainder IS read, Tor use when required.
Our iron clad feat consists of 16 vessels, 81 OF
the monitor type, torpedo ships, and
never launched. All the vessels Is
are available including l6 irOn-clads and tor
! pedo- boats Details are given of the operations
"a tho tlkat on each of the six statiOne. Tn. Se
retary has the following tO say upon the c"ndi-
ton Of the Navy: IT is gratifying to be able to
report that the Navy is now in stronger and
more efficient condition than it has ever been at
anv time since the commencement OF your Ad.
ministration. II is not only very strong in num-