The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1878-12-02
MONDAY EVENING, DECEMBER g. 1878. SIM

buaueu tnAt tne welfare OF ieSltlUhte UuSlhcoo duu
industry of every description will be best pro-
NOTED by abstaining from all attempts 70 make
radical changes in the existing financial legisla-
ton.
Let 1t be understood that during the coming
year the business of the country will be undis-
turbed by governmental interference with the
laws affecting 1t, and we may confidently expect
that the the resumption of specie payments pawn ni
be successfully and easily maintained and that 1t
will be followed by healthful and enduring re-
viyal OF business prosperity.
Let the healing influence OF time, the inherent
energies of our people, and the boundless re-
sources OF our country have fair opportunity,
and relief from present difficulties Will surely foi-
low.
The report of the Postmaster General and secre-
tary OF the Interior next noticed. and the at
tention of Congress invited to the recommends
ton OF the latter officer with regard to the preser-
vatlon OF the timber on the public lands.
The necessity for encouraging the increase of
our agricultural productions is next noticed, and
necessary legislation is urged.
The report of the Bureau of Education is men
tloned as showing gratifying progress throughout
the country.
Great extension of the advantages of the Com
mon-school System are reported. Congress Is
urged to make adequate accommodations for the
great library which is overgrowing the room al
lotted to it in the Capitol
The appeal of the Regents of the Smithsonian
Institution is heartily indorsed.
The City OF Washington and the District of Co
lumola affairs occupy portion of the message.
lhe message concludes as follows:
SulnIcent time has, perhaps, not elapsed since
the reorganization of the government Of this dis
triet under the recent legislation OF Con
gress for the expression of confident opinion as
to its successful operation; but the
practical results already attained are
so that welt the friends OF on
gress the wisdom of its continuance, without es-
sential modification. until, by actual experience,
its advantages and defects may be more fully as
certained. R. B. HAYES.
EXECUTIVE MANSION Dec O. 1873
THE MESSAGE READ
Special to the Star
WASHINGTON, Dec. Pap MAT lao D. M Mr..
Rogers appeared with the Presidents Message, and
it was read in both Houses.
Report of the Secretary of the Trea-
sury.
The following is a brief synopsis of the report of
the Secretary of the Treasury:
Ordinary revenues for the fiscal
year ending June S0th........... $257, ,763, 1878 10
The ordinary expenditures for
the same period were..........-.. 236 964, 1876 so
Leaving surplus revenue off,. $40, ,799, ,55l 80
Which was applied as follows:
To the redemption of United States
nOtes, $l3, $50 81
To the redemption of fractionalcu
rcncy. 3s55s6S 81
To the redemption of six per cent
bonds for the sinking fund. ....... 1850 90
To increase of cash balance in the
Treasury. $780, 4OS 90
$40, 799,551 80
For the present fiscal year the total revenue ac-
tual and estimated, will be: For the quarter end
ing September 3Oth $73, ,399 723 43; for the remain
ing three quarters, $19 100 276 ST. Expenditures
for the entire year. S240, 100000.
On the resumption of specie payments he says
The Secretary will feel it to be his duty, unless
Congress otherwise provides, to direct that after
the 1st day of January next, and while United
States notes redeemed at the Treasury, they be
received the same as coin by the officers of this
Department in all payments in all parts OF the
United States.
If any further provision OF law is deemed nee
essary by COnsress to authorize the receipt of
United States notes for stoms dues or for bonds,
the Secretary respectfully submits that this au-
| thorty should continue only while the notes are
| redeemed in coin. Howevei desirable continuous
resumption may be, and however confident we
may feel in its maintenance, yet the experience Of
many nations has proven that it nav be imp0ssi-
BILE in periods OF great emergency. In such events
the public faith demands that the customs duties
shall be collected in coin and paid to the public
creditors, and this pledge should never be yio-
lated or our ability to perform it endangered
The gold values of the exports of merchandise
from the United States, and imports of merchan-
disc into the United States during the last fisc i
year, as appears from returns made to and com
piled by the Bureau of Statistics, are as follow:
Exports of domestic merchandise. ...... $780, 100 268
Exports of foreign merchandise. ..... Hl564 498
Total exports of merchard disc. .. ... 1904 So, ,7G6
Imports of merchandise ..........,.. 437 051 .532
Excess of exports over imports of
merchandise. SZoi ,ol4, IA
Compared with the prev ous year. the importa-
tions are less by sl427l ,594 and the expectations
greater by s92, ,390,546
Exports of specie and TAO 1876
Imports of specie and bulon............. 2982l S14
Excess of exports over impors......... So 9lS 8l1
The number of National Banks in existence
on October list was two thousand and fiftv-three
The amount of their circulating notes
outstanding, including those in liquidation, was
1928 i47 719; the capital invested was $I66 1885,
the surplus funds and profits were Sl57, 1888 $685.
the loans and discounts were SS3052l ,542.
The total coinage at the mint during the year
was SS1, ,12O, ,499 so. The amount of e Id coin and
bullion in the country September 30th, is est-
mated by the Director at $3.50 1858 800 and of silver
coin and bullion at 500 090, ,557-a total of $685.
443 947.
WASHINGTON CITY.