The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1877-12-06

ment not only with Europe; but with other
countries, and especially with the
states and soyereigntics Of the western
hemisphere, and Instructions from the de.
partment Of state were issued to the Va.
rious diplomatic and consular officers of the
government, asking them to devote atten-
ton to the question Of methods by which
trade between the respective countries of
their official residences and the United States
could be most judiciously founded In obedi-
encc to Instructions, examinations and reports
upon this subject have been made by many Of
naent and some are submitted to the consider
ation of Congress.
| rHF TREAsuRER's R.poRr.
The annual report of the Secretary of the
Treasury on the State Of the finances presents
important questions for the action Of Con.
marked. The resources Of the government
during the fiscal year ending June
50, 1877, were &2G9, OO,5S6, ,623; the total ex.
pendltures for the same period we're $23 $685.
OOO,8sS, leaving surplus revenue Of $3OS4,-
O57, ,769. This has substantially supplied the
The estimated revenues Of tho current fiscal
year are 1886, 500, GOO, and the estimated ex-
penditures for the same period are e2s,a4s,-
061 ,372. II these estimates prove to
be correct there will be surplus
revenue Of .*s3,so66s5 62s, an amount
nearly sufficient for the sinking fund for
the next fiscal year are &260,25o 000
It appears from the report, that during the
last fiscal year the revenues of the government
compared with the present year have largely
decreased. This decrease, amounting to the
sum Of $l8,4 8,4s1, ,452.4 mainly in custom du-
amount Of imported dutiable goods and partly
by the fall Of prices in the markets OF produc-
ton of such articles us pay nd valorem taxes,
While this is felt injuriously In the diminu.
tiOn of revenue, 1t has been accompanied with
q very large increase of expectations The
total exports during the last fiscal year, In
imports have been $492, ,097 $40, leaving bal
ance Of trade in favor Of the United States
amounting to the sum Of &166 ,9l7, the
beneficial effects Of which extend to all
branches Of business. The estimated revenue
for the next fiscal year will impose upon
priations and including the requisite sum for
the maintenance OF the sinking fund within
the aggregate estimate of receipts. While the
aggregate taxes should not be increased,
amendments might be made to the Revenue
laws that wonld without diminishing the rev.
cnue relieve the people from the unnecessary
burdens OF a tax on tea and coffee. 1t is shown
by the experience not only of our own coun-
try but of other countries to he easily collect
ed without loss by undervaluation or fraud and
is largely borne in the country of production.
A tax OF ten cents peri pound on tea, and two
revenue exceeding $l2000,000, and thus cna-
bic congress to repeal multitude Of annoy
ing taxes yielding a revenue not exceeding
that sum. The 1nternal. Revenue system grew
out Of the necessities of the war, and most OF
the legislation imposing taxes upon domestic
pealed. By substitution of the tax on tea and
coffees, all forms Of internal taxation may be
repealed except that on whiskcy, spirits, ,tobac-
co and beer.
sMCGGL1NG.
Attention is also called to the neccssitv of
enacting more vigorous laws for the protection
Of the revenue and for the punishment of
sst will SGnd induce the of
fraud by differentiation and smuggling. All
revenue laws should be simple in their pro.
visions and easily understood. So far as
practicable the rates of taxation sh ould be in
the form Of specific duties not ad valorcm, re-
quiring the judgment Of experienced men to
to the temptation Of fraud.
My attention has been called, during the
recess Of Congress. to abuses existing in the
collection of the customs, and strenuous efforts
have been made for their correction by execu-
tive orders. The recommendations submitted
mission appointed to examine into the collec-
ton of customs duties of the port of New
York, contain many suggestions for the modi-
fcations of custom laws, to which the atten-
ton Of Congress is invited,
It is matter ofcongratulation OF that, ,notwith.
the public faith with allcrcditors has been pre-
served and 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. l
trust that no act OF the govern
no9i. me9t viii VIII cast SHADOW upon its
public debt has been rapid and satisfacto tory.
under the contract existing when entered
upon the discharge of the duties of my office,
bonds bearing interest at the rate Of ~ per
cent.
WERE BEING RAPIDLY SOLD,
and within three months tho aggregate sales
dred million dollars. With my sanction, the
secretary of the treasury entered into a new
contract for the sale of 4 per cents. and within
thirty days after the popular subscription for
such bonds was opened, subscriptions were
had amounting to SIS, 5,496, $50, which were
paid for within ninety days after date Of
subscription. Ry this process, in but little
more than one year, the annual interest on
the public debt was reduced in the sum of g..
IT'S, 600. I recommend that suitable provision
be made to enable the people to easily
convert their savings into government Sc
curities as the best mode in which small saw
ings may be we'll secured and yield a moder-
ate interest. 1t is IN object for public policy
to retain among our own people the securities
of the United States. In this way our country
is guarded against their sudden return from
foreign countries caused by war or other dis
turbances beyond our limits.
COMMERCE..
The commerce Of the United States with
foreign nations and especially the export OF
increased, but tho greater portion of this
trade is conducted in foreign vessels.
The importance Of charging our foreign
trade, and especially by direct and speedy in
terchange with countries on this continent
cannot be ovcrcstimated, and it is matter Of
should receive the most practical extension for
the benefit Of our commerce with other lands.
These considerations are forcibly urged by all
the large commercial cities of the corntry and
public attention is generally and wisely at
tracted to the solution Of the problem they
take them up in the broadcst spirit Of liberal
ity, and respond to the public demand by
practicable legislation upon this subject.
rHB WAR DEPARTMENT.
Tho report Of the secretary of war shows
that the army has been actively employed dur
ing the year, and has rendered very impor-
tant service in repressing hostilities in the In
dian country, and preserving peace, and pro-
tecting life and property in the interior as we'll
as along the Mexican border. A long and
arduous campaign has been prosecuted with
final complete success against a portion Of
the Nez Perces tribe Of Indians. A full ac-
count Of this campaign will be found
in the report Of the general Of the army. It
will be seen that in Its course, several bat.
ties were fought in which a number Of
gallant 0ff1cera and men Lost their lives