Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1877-12-07

n Christi civilization and the development
Il trade, are doubtful Of their ability to
maintain peace and independence without
he aid Of some stronger power. The sub
ect is deemed worthy OF respectful attsn-
ion, and the claims upon our assistance by
his distant community will be carefully
onsdered.
OUR FOREIGN TRADE.
The lorg commercial depression in the
United States has directed attention to the
subject of the possible increase of our
oreign trade, and methods for its develop
nen;. not only with Europe. bat with other
COUNTRIES, and especially with the States and
OF the western hemisphere. In
tructons from tho Department OF State were
ssued to the various diplomatic and consul
ar officers of the government, asking them
% devote attention to the question OF meth
IDS by which trade between the respective
of their official residence AMI the
United States could be most Judiciously los
cred. la obedience to these Instructions,
and reports upon this subject
have been made by many of these 3thcers
Ind transmitted to the department, and the
same are submitted to The consideration OF
Congress.
OUR FINANCES
The annual report of the Secretary OF the
| reasury on the state of the finances pre-
'entI important questions Tor the action oil
Congress, upon some OF which | have al
ready remarked. The revenues OF the gov
nmen; during the fiscal year ending June
thirtieth, 1877, were S269 ,OCu. 5e6. ~ The
total expenditures for the same period were
S23S. $50 ,OOs %. leaving surplus revenue
IBIS bol sub .ta N
supplied the requirements of the sinking
fund for that year. The estimated revenues
OF the current fiscal year are S265 500 900.
and the estimated expenditures for the same
period are S232 400 .6i3 -. If these esti-
mates prove to be correct. there will be a sur
plus revenue of 1913 .O69 ,356 2S-an amount
nearly sufficient Tor the sinking fund Tor
that wear. The estimated revenues for the
next fiscal year are S269 $50 900. ltappears
from the report that during tho last fiscal
year the revenues of the government com
pared with the previous year have largely
decreased This decrease. amounting TO the
sum OF sis Ash .i52 81; was mainly IN Gus
toms duties caused partly by large iall-
ing off OF the amount of imported dhtiablo
goods and partly by the general fall OF
prices in the markets OF production oil such
articles a. pay ad valOrum taxes. While this Is
ielt inluriously in the diminution OF the
revenue, it mas been accompanied with
very large increase of expectations. The
total exports during the last fiscal year. in
GLIDING coin, have been sos ,o37 ,i5I. and
and the imports have been sap ,091 $40.
leaving balance of trade in favor OF the
United States, amounting to the sam OF
SI66 $50 81; the beneficial effects OF which
extend to all branches OF business. The
estimated revenue Tor the next fiscal year
will impose upon Congress the duty OF
strictly limiting appropriations. including
the requisite sum Tor the maintenance OF the
sinking fund. within the aggregate estl-
mate OF receipts While the aggregate OF
taxes should not be increased, amendments
might be made to the revenue laws that
would, without diminishing the revenue.
relieve the people from unnecessary bur
dens A tax ON tea and coffee Is shown by
the experience not only OF our own country
but of other countries to be easily collected
without loss by naturalization or franz,
and largely borne in the country OF prodkC-
ton. A tax OF ten cents pound on tea and
two cents a pound on coffee would produce
a revenue exceeding sig 900 900. and thus
enable Congress to repeal multitude oil an
noying taxes yielding revenue not exceed
ing that SUN.
THE INTERNAL REYENuE SYSTEM
grew out of the necessities OF the war. and
most of the legislation imposing taxes upon
domestic products under this system has
been repealed by the substitution OF tax on
tea and coffee. All forms Of internal taxa
ton may be repealed. except that on whis-
KEY, spirits. tobacco and beer.
THE PROTECTION or THE REVENUE.
Attenti on is also called to the necessity oil
epactlng more vigorous laws for the protec-
ton Of the revenue and for the punishment
of frauds and smuggling. This can best be
done by Judicious provisions that will IN
duce the disclosure of attempted fraud by
under-yaluation and smuggling. All reve'
nue. laws should be simple 10 their prOvis-
ions and easily understood. 81 tar a. prac-
tcable, tho rates of taxation should be IN
the form of specific duties and not ad va
lorum. requiring the Judgment OF expert
enced men to ascertain values. and exposing
the revenue to temptation Ot fraud.
REVENUE ABUSES.
Nv attention has been called during the
recess OF Congress to the abuses existing
in the collection OF customs. and strenuous
efforts have been made for their correction
by executive orders. The recommendations
submitted to the secretary OF the treasury
by Il commission appointed to examine into
the collection OF customs duties at the port
of New York contain many suggestions FOL
the modification OF the customs laws, u
which the attention of Congress is invited.
THE PUBLIC CREDIT.
L.
notwithstanding the severe burdens caused
by the war. the public faith with all eredI-
tors has been preserved and that as the
result OF this policy the public credit has
continuously advanced, and our public
securities are regarded with the highest
favor IN the markets OF the world. trust
that no act of the government will cast
shadow upon its credit. The progress OF
reiuading the public debt has been rapid
and satisfactory, under the contract exist
ing when | entered upon the discharge oil
the duties of my Office. Bonds bearing
interest at the rate OF Al per cent were being
rapidly sold, and within three months the
aggregate sales of these bonds had reached
the sum of S2OO 900 900 With my sane
ton. the secretary OF the treasury entered
into a new contract for the sale OF iuur per
cent bonds and within thirty days after the
popular subscription for such bonds was
opened subscriptions were had amounting
to S75. 1876 $50, which were paid Tor within
10 DAYS after the date of subscription. by
this process within but little more than ono
year the annual interest ON the public debt
was reduced in the sum OF SJ.77J, 900.
recommend that suitable provision be made
to enable the people 30 easily convert
their savings into government securities,
AS the best mode in which small
savings may be well secured and yield mod
crate interest. IL IL an object OF public
policy to retain among our own people the
securities Of the United States. In tins way
our country is guarded against their sudden
return from foreign countries. caused by
war OF other Disturbances beyond our limits.
Our SHIPPING INTERESTS.
The commerce of the United States with
foreign nations and especially the export
of domestic productions has of late years
largely increased, but the greater proper
tiun Of tins trade is conducted IN loreign
vessels The Importance OF charging our
foreign trade. and especially BY direct and
speedy interchange with countries ON thus
continent, cannot be over estimated. and 1t
il n matter of great moment that our own
shipping interest should receive To the ut
most practical extent the benefit oil our
commerce with other lands These eonSi-
ierstlons are iOrcibly urged by all the large
commercial cities of the country, aud pub
lie attention - generally and wisely at
tracted to tho solution IT the problems
they present Ii Is not doubted that Con
grcss will take them up IN tho broadcsl
spirit of liberality and respond To the pub
he demand by practical legislation upon
this important subject.
rur REPORT or rus SECRETARY OF WAR
shows that the army has been actively en-
plnycd during the year and has rendered
very important service IN supprosslng nos
tilitlo4 IN tho Indian country and IN pre-
serving peace and protecting lie and prop
,r,y IN tho Interim ns well aS along the