The Andrew County Republican. [volume] (Savannah, Mo.) 1871-1876, 1875-12-17
DEPARTMENT REPORTS.
accompanyinc the Presidents Message,

company the Presidents Message.
The following is an abstract of the
more important reports of the heads of
Departments, which accompanied the
message Of the President, and which
have not heretofore been published:
REPORT OF TIE SECRETARY IF THE TREASURY.
The ncr revenues for the fiscal year We're $2e>,-
OcO, OIL. Iu, and the ordinary expenses S2I4 49,
iS2 -, leaving Il surplus revenue, exclusive of
the sinking fund, of : 1857 ,t1N.26. The receipts
exceeded estimates by about 80 900, and the
expenditures fell below estimates about ) $50 900.
The estimate of revenues for the ensuing year,
based on the figures OF the first quarter, Is S2SG,-
10 -. II, and of expenses. Is S26~, Az ,@I} 10,
giving "A surplus of SO, eos ,tOi .3s, insufficient by
AZ, 80 600 10 provide for the sinking fund. The
reduction of the public debt has been = Ia ,399,-
: lSf, being ; ,U22, S|G.! S more than the sur
plus of revenues. The Secretary declares that he
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, ami that he viii act 50. The Secre-
tarv is able To announce that { ~ ,o0, 900 of Is per
cents have been funded into : per cents. He he
lieves the remainder can be refunded lin accord
ancP with the provisions of the acts of $50 and
le15." But lie recommends that further lrgisla-
ton be had extending the time for the redelnp-
ton OF the a, per cente from Is to 30 years from
the date Of their Issue. On the subject of the re
sumption of specie payments the secretary CON
sumes much space. In order 10 insure resump.
ton by the day fixed by law-Jan |, Is14-he
recommends the abolition OF the legal tender
feature of the grecnbacks as 10 contracts entered
into after the first day of January, ISL. Mean
time he also recommends that authority be given
him to fund the legal tender notes with long time
bonds for small sums7ls low as SD-bearing Il
low rate Of interest, say { per cent, and that
these bonds he made available to national banks
us security for their circulation. He suggests
that this authority might be limited to 81 ,Ot0, 900
Dpr month. HE Secretary regrets that ne mas
been compelled 10 make sales of gold, but neces-
sity has enforced HIM To the measure As Il means
of INT citing the current expenses of Government.
The number OF National banks organized up to
the lat inst. is 2,go7, IF which 2,US7 were doing
business pct. |. Reports of the last named date
show their capital t. have been s Tl 50, .6l cir
culation, Sis $50 49,; deposits, sSt+ 80, Gl9,
loans, $3.50, 222 AL; specie, including coin Ger.
titicat.s, s. 90, 329. Under the free banking
clause of the .ct of January "a, l~15, 80 $50 SO
Of national bank notes have been issued and $S,-
16} 40 OF legal tender notes retired. lndcr the
act of June 20, 80, which provides for the retire
ment of national bank circulation, and the sur
render of bonds deposited as security by the
substitution ui legal tender notes, - ,516, 10
of such legal tender nstcs have been deposited.
OF this sum ( l. 81 $50 has been paid out in re
demptinn of national bank notes. AMI $50, 23S,-
62 remain in the Treasury. On account of the
silver scheme S,243. 6i2 ounces Of
silver hullion have been purchased, at an aver
age price of III { ~ cents per standard ounce,
ami it has cen coined IL the amount OF : 10, 900.
500. But the secretary declines To Use II. He
saws: For Obvl0uS reasons II has been, ana
yet is, impracticablc to put or keep silver in cir
Culatiun. The receipts from customs for the
wears ending June 30. 1874. and $50, are
given, showing Il falling Of in the latter
year of 50, ,l!I.3t. The views of the Secre-
tarv in support of a tariff Tor revenue a.
expressed III !lis report OF last year are reiterated.
He refers to two evils in the collection of customs
duties. namely. smuggling ana INTERPRETATION.
The restoration of the duty on tea and coffee Is
commended. During the fiscal year $50 the
cost Of collecting the customs revenue has been
reduced more GIan half a million dollars by drop
ping employees and reducing the salaries of
others. Fines amt penalties are among the
Things that were. only 80, j2i.1j having been
collected for the first quarter OF the current fiscal
wear, on the basis Of winch the falling off for the
wear, as compared with lS73, will be S@Ho, 400.
This loss has been met b. Il further reduction of
expense To the amount of more than a million
dollars per anHum. But the Secretary doubts If
the reduction can be maintained without injury
70 the service. The Internal Revenue exhibit l.
more gratifying than that Of customs. The total
receipts for the fiscal year lSI4 were Slt2 GIT
40. IS, while those for the last year aggregated
: lid, "a l5i p, IN increase of $3.50 40 -
There was also an increase of 81, l6!, 1Oi.2O for
the months of October and November of this year
rs compared with the corresponding months of
ISL. 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 81 fraud, AMI 1t is declared that per
sistent and systematic frauds Will be ylzitcd with
the severest penalties OF the law.