The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1875-12-09

the balance Of currency IN the Treasury Is
sufficient to meet currency payments"
The Secretary Gays that 8 banking having
been made free by the act Of the last Con-
gress, without RESTRICTION as to the amount
of circulating notes that may be issued to
any part OF the country, it is believed that
such currency will distribute itself according
TO the deman and necessities of business.
The privileges which attach to nationalbanks
being open to individuals in all parts of the
country. capitalwil not be slow to establish
additional banks, or to increase the crcula-
ton OF those already in existence, whenever
and wherever the exigeucies Of business shall
render 1t apparent that an increase of circu-
1atlon Is desirable. But it does not seem
probable that such demand will arise TO any
considerable extent while the volume of
legal-tender notes continues so great as to
cause large sums to lie idle in commercial
centres, for want of safe and profitable in
vestment.' E4 et1
1.-THE diminished use of silver coin in various
European countries, and the increasing produc-
ton Of our silver mines, would appear to rem
der the present very favorable time for pro-
curing supplies of bullion for the manufacture
of silver coin to be used in the redemption of
the fractional currency.
$50 much of the act of January IA, 1875, as
relates to the purchase and coinage of silver for
redemption of fractional currency, has been
pnt into partial operation and is now being
executed as rapidly as the exigencies of the case
will admit. Since the p&ssage of the act, s, 243
642 ounces of silver bullion have been pur-
chased, at an average price of III 4-10 cents
per standard ounce. The minis have been put
into active operation, and the aggregate amount
of silver coin now in the Treasury is &c.,
900, 000."
The report says that in g the collection of
duties upon importations.. two evils are chiefly
operative to prevent the Government from
realizing the full measure of revepue--frst,
smuggling, secondly, differentiation. The
first general suggestion which presents itself
by way OF remedy for some of the defects of
the present system of appraisements is an in
crease in the number of general appraisers, to
be drawn from the ranks of subordinate
officers of requisite ability and experience !;
and. secondly q consolidation of customs dis
tricts, by which minor districts would be merg-
ed in larger ones thus reducing the sphere of
action of this class of officers, and enabling
them to concentrate their efforts to better adj
vantage"
Referring to the estimates of receipts and
expenditures for the next fiscal year, and to the
necessity now existing for the accumulation of
gold in the Treasury. the Secretary again calls
the attention of Congress to the effect of the
act of 1872 repeating the duty on coffee and
tea In his annual report the Secretary ex
pressed the opinion that the act admitting these
articles to free entry had been without advan-
tage to consumers in this country, but that the
duty repealed had been added to the cost abroad.
Subsequent consideration of the subject
has confirmed the views heretofore ex-
pressed, and the Secretary recommends restor-
atiou of the duty on the articles in question.
The Secretary alludes to the internal reve-
nue. frauds, the collision of dishonest Off
Gals, and the vigorous measures that have
been taken to bring the conspirators to justice.
He ssconsiders it important to the future col
lection of the revenue, that all parties en-.
gagged in persistent and systematic frauds shall
be visited with the severest penalties of the
law TO this end instructions have been re-
peatedly given to officers of internal revenue,
and others in the service of this Department,
to render all proper assistance to the officers
of the Department of Justice in the prosecu-
tion of the cases now pending, and in the de-
teciion and punishment of such guilty parties
as have not yet been indicted. It is deemed
of especial Importance that officers of the
Government who have betrayed their trust,
and engaged in frauds OH the revenue, shall
DO brought to speedy and condign punishment.
Those who are intrusted with official duties
and RESPONSE bilities should be given to know
that the Government will not deal lightly with
them when they prove to be guilty of eorrup-
fOn in Office