Bozeman avant courier. [volume] (Bozeman, Mont.) 1872-1882, 1878-12-19

ments for arbitrary to the President OF the
United States. and have. after Il careful
examination. given decision upon II.
4 naval expedition up the Amazon and
Madeira rivers has brought back inforIna-
ton valuable for scientific and commercial
purposes. A like expedition is about TO
visit the coast of Africa and the Indian
Ocean. The reports of diplomatic and
consular officers in relation to the develop
mcnt of our foreign commerce have fur
nished many facts that have proved OF
public interest. and have stimulated to
practical assertion the enterprise of our
people.
TREASURY REPORT.
Tic report OF the Secretary OF the Treas
ury furnishes a detailed statement of the
operations of that department of the Gov
ernment and of the condition OF the public
finances. The ordinary revenues from All
sources for the fiscal year ending June 30,
1873. were S257 .7G3. $3.50. The ordinary
expenditures for the same period were
S23G. 1854. .236.s0. leaving surplus revenue
tor the year Of $40. .793.55l.9 80. Tie re-
ceipts for the present fiscal year. ending
June 80. 1879. actual and estimated. are rs
follows: Actual receipts for the first quar-
ter recommending July ISIS. S73.3S9 343 l3:
estimated receipts for the remaining three
quarters of the year, Si9l ,ll005G.51; cx-
pcnditures, S73.3l4. .573.27. For the re-
mi, 4 1,n no Y.
penditures are esiinateda at Sl6o.155. .42G.13
llaking the total expenditures $40. o.lO0.V0
md leaving an estimated surplus revenue
for the year ending June 30, 1879. of S24.-
100000. The total receipts during the
next fiscal year ending June 10. 1850. esti-
mated according to existing laws, will be
S2G4 800. 900, and the estimated ordinary
expenditures tor the same period will bt
S246. 6.320. 4l2.GS. leaving surplus OF SIS
l79.5S7 32 for that yeal. In the foregoing
statement Of expenditures. actual and esti
mated. no amount is allowed tor the sink.
ing fund provided for by the act approved
February u. 1862, which requires that one
per cent. of the entire debt of tile United
States shall be purchased or paid within
each fiscal year to be set apart as sinking
fund. There has been. however. subStan
tial compliance with the conditions Of the
law. BY its terms the public debt shonl,
have been reduced between 1862 and the
close of the last fiscal year. S5lS. .35l so. %
The actual reduction of the aScertaineo
debt during that period has been S.20.6H.
730.6l. being il excess of the reduction re
quired by the sinking fund act. S202 2o2.
900. 30. Il,e a,..e,."t Of r.abli. .ieiat- Loss
cash in the Treasury. on November !. 1878
was S2.O24 200. .0s3. Is. a reduction since tli'
same date last year of S23.lGO.ll77 The
pro .ress made last year in ret'nding the
public debt at lower rates Of interest il
very gratifying.
UNITED STATES BONDS.
The amount Of four per cent. bonds sole
during the present year prior to November
2d. 1873. is $lO0.270 900. and the Sly
per cent. bonds. commonly known as . 20
to an equal amount have been or will be re
deemed, AS the calls mature. 1t has beef
the policy Of the Department to place th'
four per cent bonds within easy reach o
every citizen who desires to invest his say
ings. whether small or great. in these Sc
/ crrities. The Secretary of the Ireasur!
recommends that the law be 80 modified
that small sums may be invested. and t'a
through the post offices. or other agents o
the Government, the fullest Opror:,nit.
may be given in all parts of the country fol
such investments The best mode suggest
ed is, that the Department be authorized
to issue certificates of the denomination o
$40. bearing interest at the rate OF 3.6o PEI
cent. per annllm, convertible at any time
within one year after this issue to the fou
per cent. bonds authorized by the refund
inc act. and to be issued only in exchan@,
tor United States notes sent to the Treas
ury, by mail or otherwise. Such provis
ions would enable any person readily, with
out risk. to convert his money into inter
est-bearing securities of the United States
and the money So received could be ap
Piled to the redemption of the six per cent
bonds.
The coinage of gold during the last tisca
year was So. 2.19S, $50; coinage OF silver dol
lars under the act passed February 2Sth
1873. amounted on the 23rd Of November
1873. to Sl9.s,4.5 so. OF which amount 81.
| 9S4. .947 are in circulation, and the balance
$l4.S29. .7O3. is still in the possession Of TIL:
government. With my views unchanged
with regard to the act-under which th'
coinage of silver proceeds. it has been tin
purpose of the Secretary to faithfully eN
ecute the law. and to afford a fair trial Il
the measure In tile present financial con
dition of the country, am persuaded tina
the welfare Of the legitimate business an'
industry of every description will be bes
promoted by abs.aining from all attempts
| to make radical changes in existing tinan
cial legislation.
SPECIE RESUMPTION.
| Let it be understood that during TIN
coming year the business of the countr!
will be undslurbed by governmental in
terferance with the laws affecting it, an'
we may confidently expect that the re
sumption of specie payments whicl, vii
take place at the appointed time, will b.
successfully and easily maintained, ant
| thar it will he followed by a healthy ant
enduring revival OF business prosperity
Let the healing influence OF time. the in
herent energies of our people, and TIN
boundless resources Of our country hav'
fair opportunity. and relief from the pres
ent difficulties will surely follow.
rHx REPORT OF THE SECRETARY OF Wal
shows that the army has been well ans
economically supplied, that our small forc'
has been actively employed and has faith
fully performed all the service required o
it. The morale of the army has improves
and the number Of deserters has materiall!
decreased during the year. The Seeretar!
recommends:
First-That pension be granted to tn
widow of the late Lieut.. Henry II. Benner
of the 18th Infantry, who lost his life b!
yellow fever while in command Of tn