The New York herald., 1878-12-03

seientihc and commercial purposes. like expedi-
ton - about visiting the coast of Africa and the n
dian Ocean. The reports OF diplomatic and consular
Officers IN relation TO the development OF our foreign
conaiperce have furnished many facts that have
proved of public interest, and have stimulated to
practical exertion the enterprise of our people.
FINANCES
The report of the Secretary OF the Treasury fur
nishes detailed statement OF the operations OF that
department. OF the government and OF the condition
OF the public finances.
hscxl year ended June 30 1875 s257 763s7s 10:
the ordinary expenditures for the same period were
$23d,s6i .326 50; leaving surplus revenue for the
: The receipts for the present hscal year ending
June 80 1879 actual and estimated as follows:-
Actual receipts for the hrst quarter
commencing July !, 1878. ........... SI33ss,t45 43
Estimated receipts for the remaining
three-quartcrs OF the year........-. l9l,ll02B o.
Total receipts for the current fiscal
year, a.tual and estimated. S264 100000 90
The expenditures tor the same period will be,
actual and estimated. follows:-- the quarter
commencing July l. 1876 actual expenditures,
s73344 5T3 81 and for the remaining three-quarters
of the year the expenditures are estimated st
Sl66.i55.426 49,. making the total expenditures
Sa40, 100000 and leaving an estimated surplus rcve
for the year ending June 80. 1872 OF s2f 900.
Tho total receipts during the next fiscal year. end
ing June 80. 1850, estimated according To existing
laws will be $264, 500 0a0 and the estimated ordinary
expenditures for the same period will be
,4l2 0s; leaving surplus of s2sl7s,5s7 %
for that year.
In the foregoing statements expenditures. actual
and estinated no amount is allowed Tor the sinking
fund provided for by the act approved February %
1852, which requires that per cent OF the entire
debt OF the United States shall be purchased paid
within each fiscal year, to be set apart as sinking
fund. There has been, however. substantial COM
planee with the conditions of the law. BY its terms
the public debt should have been reduced between
1862 and the OF the last fiscal 5lS sos y
the actual reduction of the asccrtained debt in that
period has been s720 73o 81 being the
reduction required by the Sinking Fund act
$2V2. .2s2, 1888 33
THE ruBLIc pEgr.
rla aal,s In,
Treasury November i. 1875, was S2.024 200,Osj Is
a reduction since the same date last year of
1913, 1506l1 81.
The progress made during the last year in refund
ing the public debt at lower of interest is very
gratifying The amount OF tour per cent bonds sold
is slU0,2IO GG and six per cent bonds, commonly
known hve-twenties. TO an equal amount have
been or viii be redeemed As calls mature. 1t has
been the policy Of the Department to place the four
per cent bonds within easy reach OF every citizen
who desires to Invest his sayings. whether small
great these securities The Secretary of the Treas
ury recommends that the law be modified that
small sums may be invested and that through the
post Offices other agents of the government the
treest opportunity may be given in AL parts Of
the country for such investments. The best mode
suggested is that the Department be authorized TO
Issue certificates OF deposit, the denomination of
$1O bearing interest ut the rate of 1865 per cent per
annum and convertible at any time within one year
their into the per cent bonds author
lied by the Refundng act and to be issued only III
exchange United states notes sent to the Treasury
by mail or otherwise. Such provision OF law, sup
ported by suitable regulations would enable any per-
son readily, without cost or risk. to convert his
money into an interest bearing security OF the United
States and the money received could be applied to
the redemption Of six per cent bonds.
The coinage of gold during the last fiscal year
$52 79S aS1 The coinage OF silver dollars. under the
passed February 2s, 1873 amounted the 2sd OF
$49s4,947 in circulation and the balance,
$4,s29G G03 is still in the possession Of the govern
ment With views unchanged with regard to the act
under which the coinage OF silver proceeds. it has
been the purpose OF the Secretary faithfully to
cute the law and to afford fair trial to the
In the present financial condition Of the country
persuaded that the welfare Of legitimate business
and industry OF every description will be best pro-
noted by abstaining from all attempts to make rsdi
cal changes in the existing financial legislation Let
it be understood that during the coming year the
business Of the country win be undsturbed by gov
ernments interference with the laws affecting it, and
ws may confidently expect that the resumption OF
specie payments. which will take place at the ap-
pointed time. will be successfully and easily main
tanned, and that 1t will be followed by heathful and
enduring revival OF business prosperity Let the
healing influence OF time, the inherent energies of
cur people ana the boundess resources of our coun
try have fair opportunity. and relief from present
diidcuhes viii surely follow.
ARMY.
The report os the Secretary of War shows that the
army has been we'll and economically supplied that
small force has been actively employed and has
faithfully performed all the service required Of It,
of desertions has materially decreased during the
year. The Secretary recommends -
l. That pension be granted to the widow Of tho
bate Lieutenant Henry H. Beuner Eighteenth infantry
who lost his life by yellow fever while in command of
The steamer j. NJ. Chambers. sent with supplies for
the relief Of sufferers in the South from that disease
?. Tho establishment Of the annuity scheme for the
benefit Of the heirs OF decreased occrs. suggested
by the PayInaster General.
g. The adoption by Congress of plan for the pub
hcation Of the records OF the War of the Rebellion
now being prepared for that purpose.
4. The increase OF the extra per diem of soldier
teachers employed in post schools and liberal appro
pr9tions for the erection Of buildings FOR schools and
Libraries At the different posts.
s. The repeal amendment Of the act Of June 49,
1878. forbidding the use OF the army as posse coi
laws except in such cases and under such circun-
may be expressly authorized by the const
tuition or by act Of Congress-
g. The passage of joint resolution of Congress lc
gaizing the issues of rations, tents and medicines
which made for the relief OF sufferers from vel
T. That provision be made for the erection of Are
proof building for the preservation Of certain vain
able records now constantly exposed to destruction
by ire.
These recommendations are all commended to your
favorable consideration.
NAVY.
The report of the Secretary Of the Navy shows that
the navy has improved during the last fiscal year
which have been thoroughly repaired and made ready
for sea- Two others are in rapid progress toward
completion.
Tie total expenditures of the year including the
appropriated for the deficiencies OF the pre-
vious ycnr. were s17 .i5s, ,s92 G5.
The actual expenses chargcable to the year. excl-
Give of these Deficiencies were sLJ,3ob,gl4 10, or
S7G7l99 IL less than those of the previous year and
$42s677 "a less than theexpenses including the de-
6ciencies.
The estimates for the fiscal year ending June 3o
1880 ia 3s1 45excceding the appropriations
OF the present year only $500 T5 which Is
occasoued by the demands Of the Naval Academy and
the Marine Corps, as explained in the secretarys
port
The appropriations for the present fiscal year
s2s Az 7D which, in the opinion Of the Secretary,
will BE- ample for all the current expenses of the
partnIent during the year.
The amount drawn from the Treasury from July
70 November l, 1878. is s4Ip,5i4 a.. Of which
$7ogso rs has been refunded leaving the expendi
ture for that period S. J63 ~ cor s52o s9 ~ less
than the corresponding period Of the last fiscal year
The report of the Postmaster General embraces
detailed statement OF the operations OF the Post once
Department
The expenditures Of that department for the fiscal
year ended June ~, 1879. were s3s, i65,os4 ~.
The receipts, including sales Of stamps, money
order business and official stamps SO 21 5I6 -.
The sum OF s2yO 4J6 20. included in the foregoing
statement of expenditures r. chargcsbc to preceding
years. thrt tine actual expenditures for the fiscal