The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1878-12-11
WHOLE NO. l43l.

1 VI tHC y cot thc cAPCuuiluIcc are tc-
t timated at sI66, ,655, 426 13-making
the total expenditures, S240, 100, 900;
e and leaving an estimated surplus
3 revenue, for the year ending June
!. 80, 1879, of $2i, 100000.
: The total receipts during the next
fiscal year, ending June 30, 1880, es-
timated according to existing laws,
will be s264 500, 900; and the estimst-
ed ordinary expenditures, for the
same period, will be 1896, ,320,4l2 6s;
J leaving surplus of S2s,1I9, ,5sT SO
| for that year
In the foregoing statements of ex-
penditures, actual and estimated, no
, amount is allowed for the sinking
fund, provided for by the act ap-
} proved February %. 1862, which re-
} quires that one per cent. Of the en-
tire debt of the United State shall be
purchased or paid within each fiscal
year, to be set apart as sinking
fund. There has been, however, a
substantial compliance with the con-
ditions of the law By its terms the
public debt should have been reduced
between 1862 aud the close of the
last fiscal year, s5lS, 1861, ,S06 90; the
actual reduction of the ascertained
debt, in that period has been $720,-
644, 739 81; being in excess of the re-
duction required by the sinking fund
act $500, ,2S2,933 33.
The amount ofthe public debt. less
cash in the treasury, November /,
1878, was s2,024 20O,0S3 ls-a re-
duction since the same date last year
of S23,I50,6I7 80.
The progress made last year in re-
funding the public debt at lower
rates of interest is very gratifying.
The amount of four per cent bonds
sold during the present year prior to
November %, 1873, is 500, ,2T0, 900,
and six per cent bonds, commonly
known as 6ve-twenties, to an equal
amount, have been or will be, re-
deemed as calls mature.
THE NAVY.
The report of the Secretary Of the
Navy shows that the navy has i'm
proved during the last fiscal year.
Work has been done on 10 vessels.
10 of which have been thoroughly re-
paired, and made ready for sea. Two
others are in rapid progress towards
completion. The total expenditures
OF the year, including the amount ap-
propriated for the deficiencies Of the
previous year, were slT,4GS,392 90.
The actual expenses charseable to
the year, exclusive Of these deficien-
cies, were sl3,3O6,9l4 GO, or S767,-
1919 Is less than those vi the preyi- !
Gus year, and S4,92s,617 "a "a than
the expenses, including the q fcien-
cies. The estimates fr the fiscal
year ending June 80, 1881, arr Sl4,-
562,3Sl 45--exceeding the appropri- |
ations of the present year only $685.
949 10; which excess is occasioned
by the demands of the Naval Acade-
my and the Marine Corps, as explain
ed in the Secretary's report. The
appropriations for the present fiscal
year are Sl4,52S,43l 10, which. in
the opinion of the Secretary, will he
ample for all the current expenses of
the Department during the year. The
amount drawn from the Treasury
from July l to November l, 1878, is
S4,I40,544 IA, of which sT0,980 10
has been refunded, leaving as the ex-
penditures for that period s., ,669, ,563
80 or S520,899 "a less than the cor
responding period of the last fiscal
year.
THE POSTAL SERVICE.
The report of the Postmaster Gen.
eral embraces detailed statement of
the operations of the Postoftice De-
partment. The expenditures of that
Department for the fiscal year ended
June 80, 1873, were S34,l65,0s4 40.
The receipts. including sales Of stamps,
money-order business, and official
stamps were S29,277,5l6 50. The
sum of s26O,436 80, included in the
foregoing statement of expenditures.
is chargeable to preceding years, SO
that the actual expenditures for the
fiscal year ended June 80, 1878, are
33,S74,647 so. The amount drawn
from the Treasury on appropriations,
in addition TO the revenues of the
Department. was s5,307 ,652 SO. The
expenditures for the fiscal year end
ing June 80, 1880, are estimated at
$50, ,57l 900, and the receipts from all
sources at S30,e64,023 80, leaving q
deficiency to be appropriated out Of
the Treasury of IS, ,907,s16 10 The
reports call attention to the fact that
the compensation of postnasters and
Of railroads for carrying the mail is
! regulated by law, and that the failure
of Congress to appropriate the
amounts required for these purposes
does not relieve the Government of
responsibility, but necessarily in
creases the deficiency bills which
Congress will be called upon to pass.
In providing for the postal service,
the following questions are presented:
Should Congress annually appropri-
ate sum for its expenses largely in
excess of its revenues, or should such
rates of postage be established as will
make the Department selfsustaining?
Should the postal service be reduced
by excluding from the mails, matter
which does not pay its way 7 Should
the number OF post routes be dimin-
ished? Should other methods be
adopted which will increase the rev.
enne or diminish the expenses of the
postal service?
POSTAL CONGRESS.
The International Postal Congress,
which met at Paris May |, 1878, and
continued in session until June 4,ofthe
same yeas, was composed Of delegates
from nearly sll the civilized countries
OF the world. 1t adopted new con.
vention to take the place of the treaty
concluded at Berne, October Q, 1874,
which goes into effect on the lst of
April, 1879, between the countries
whose delegates have signed it. 1t
, was ratified and approved, by and
; with the consent of the President,
, August l3, 1878. A synopsis of this
: Universal Postal Convention will be
} found in the report of the Postmaster
General, and the full text in the
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