The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1877-12-06

from Venezuela, under the treaty of April 25 1885,
applicable to the awards of the joint commission
created by that treaty So long these matters are
pending In Congress the Executive cannot assume
either to pass upon the questions presented or to
| distribute the fund received
1t Is eminently desirable that definite legislative
action should be taken, either deciding the awards
to be final, or providing some method for re-ex-
animation Of the claims.
| Southern American Nations. s@**=
| Our relations with the republics of Central and
South America and with the empire of Brazil have
continued without serious change further than the
temporary interruption Of diplomatic intercourse
| with Venezuela and with Guatemala Arnicabe re-
latlons have already been fully restored with ven-
ezuela, and 1t Is not doubted that all grounds Of
| misunderstanding with Guatemala will speedily be
| removed From all these countries there are
favorable indications of disposition on the part Of
| their Governments and people to reciprocate our
efforts in the direction of increased commercial In
| tercourse.
| The Government of the Samoan islands has sent
an envoy, In the person of it's Secretary of State
to invite the Government of the United States tn al
| wise and protect their independence, to establish
commercial relations with their people, and to as
| slst them In their steps towards responsible and
regular government, The Inhabitants of these
| Islands, having made considerable progress in
| Christian civilization and the development Of
trade, are doubtful Of their ability to maintain
peace and independence without the aid of some
~
respectful attention, and the claims upon our as
sstance by this distant community will be carefully
| considered.
Foreign Commerce,
The long commercial depression in the United
states has directed attention to the subject of the
possible increase OF our foreign trade and the
method for Its development, not only with Europe
but with other countries, and especially with fhe
states and sovereigntes Of the Western hemisphere
instructions from the Department of State were
issued to the various diplomatic and Consular off,
GERS OF the Government, asking them to devote at
tention to the question Of methods by which trade
between the respective countries of their official
residences and the United States could he most jT
diciously forwarded. In obedience to the instruc-
tons, examinations and reports upon this subject
have been made by many of these officers and trans
mitted to the department. and the same are submit.
ted to the consideration Of Congress.
National Finances.
The annual report Of the Secretary Of The Treas.
ury on the state of the finances presents important
questions for the action of Congress- upon some OF
| which have already remarked. The revenues OF
| the Government during the fiscal year ending June
3d. 1877, were $269, 600, $685. The total expendi-
turessfor the same period $685. $780, 93 leay-
ing surplus revenue of $50, $40, 577.69 This has
substantially supplied the requirements of the sink
ing fund for that year. The estimated revenues of
the current fiscal year $685. 0OO and the esti
mated expenditures for the same period are $500.
4SO,6l372. II these estimates prove to be, correct
there will be surplus revenue OF $685. 039 $50 "a an
amount nearly sufficient for the sinking fund for
this year.
The estimated revenues for the next fiscal wear
are S26O, QUO. 1t appears from the report that
during the last fiscal year the revenues of the Gov
eminent, compared with the previous year have
largely decreased. This decrease, amounting to
the sum Of 1881 ,452.54, was mainly in customs
duties, caused partly by large falling off Of the
amount OF imported dutiable goods, and partly by
the general fall Of prices in the markets Of produc-
ton OF such articles as pay ad valorem taxes
While this Is felt injurious in the diminution of the
revenue, 1t has been accompanied with very large
| increase of expectations. The total exports
during the last fiscal year, including coin,
have been $658, 637 457, and the imports have been
$492 097, $780, leaving balance of trade in favor of
the United States amounting to the sum OF $685.
539,917 the beneficial effects of which extend to all
branches Of business.
| Revenue.
The estimated revenue for the nen fiscal year
will impose upon Congress the duty of strictly li-
iting appropriations, including the requisite sum
for the maintenance of the sinking fund within the
aggregate estimate of the receipts while the aggre-
gate of taxes should not be increased, Amend
ments might be made to the Revenue laws that
would, without diminishing the revenue relieve the
people from unnecessary burdens. 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 differentiation or fraud
| and largely borne in the country of production A
tax OF 10 cents pound on tea and cents per pound
| on coffee would produce revenue exceeding $40
100000, and thus enable Congress to repeal multi
tude OF annoying taxes yielding revenue not ex-
ceed1ng that sum. The internal-revenue system
grew out of the necessities Of the war, and most of
the legislation imposing taxes upon domestic pro-
ducts under this system has been repealed. By
the substitution Of q tax on tea and coffee all
forms OF internal taxation may be repealed except
that whisky, spirits, tobacco and beer Atten-
ton is also called TO the necessity of enaotng more
| vigorous laws for the punishment Of frauds and
smuggling. This can be best done by iudicious
provisions that will induce the disclosure of at
tempted fraud by differentiation and smuggling.
All revenue Laws should be simple in their provf-
sions and easily understood. 80 far practicable
the rates Of taxation should be in the form of spec-
hc duties and not ad valorem, requiring the iude-
ment OF experienced men to ascertain values and
exposing the revenue to the temptation of fraud.
| Customs Abuses.
My attention has been called, during the recess Of
Congress, to the abuses existing in the collection of
| the customs and strenuous efforts have been made
for their correction by Executive orders The rec
concentrations submitted to the Secretary of the
Treasury by commission appointed to examine
into the collection Of customs duties at the port Of
| New YORK contain many suggestions for the modif-
cation Of the customs laws to which the attention Of
| Congress Is invited.
| Public Credit.
| 1t is matter Of congratulation that, notwith-
standing the severe burdens caused by the war the
pubic faith with all creditors has been preserved
and as the result of this policy the public credit has
continuously advanced and public securities are re-.
garded with the highest favor in the markets OF the
world. trust that no act of the Government win
| cast shadow upon Its credit.
The Public Debt.
| The progress of rerunding the public debt has
| been rapid and satisfactory. 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 land
within three months the aggregate sales of these
bonds had reached the sum of $500, ,OOO
With my sanction, the Secretary of the Treasury
entered into contract for the sale of 4-per-
cent bonds, and within thirty days after the popu
! lar subscription for such bonds was opened SUBJ
scrptions were had amounting to $75, 496,55O which
We're paid for within ninety days after the date of
subscription. BY this process, within but little
more than one year. the annual interest on the pub
lie debt was reduced in the sum of So, 775 900.
Savings Funds.
recommend that suitable provision be made to
enable the people to easily convert their savings
into Government securities, as the best mode In
which small savings may be well-seoured and yield
q moderate interest.
1t is an object of 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 countries, caused by war or
other disturbances, beyond our limits.
American Shipping.
The commerce of the TTnited States uj4b fopo;c