Litchfield enquirer., 1878-12-12

reports of diplomatic and consular officers ln relation to the development of our foreign commerce, have furnished many facts that have proved of public interest, and have stim-a nlated to practical exertion the enterprise of our people.
 THE FINANCES.
 The report of the secretary of the treasury furnishes detailed statement of the operations of that department of the government, and of the condition of the public finances The or dinary revenues from all sources for the fiscal year ending June 30, 1878 were $257, 763 870,- 70; the ordinary expenditures for the same period were $236, 964, 326 80-leaving surplus revenue for the same year of $2O, 799, 551. 90. The receipts for the present fiscal year ending June 30. 1879 actual and estimated, are as follows: Actual receipts for the first quarter commencing July 1, 1878, $73, 389, TAB. 43; es- timated receipts for the remaining three quar- ters of the year, 91, ,110 256.5 total receipts for the current fiscal year, actual and estimat- ed, $264, 800, ,000 The expenditures for the same period will be, actual and estimated, as follows For the quarter commencing July l, 1878, actual expenditures, S,344, 573.2; ; and for the remaining three-quarters of. the year, the expenditures are estimated at $166,- 755, 426 73-making the total expenditures,
 
 plus revenue, for the year ending June 30, 1879, of $24, 400, ,000. The total receipts dur ing the next fiscal year, ending June 30, 18o0, estimated according to existing laws will be $264, 800, ,O00 and the estimated ordinary ex- penditures, for the same period, will be $236, . 320, 412 68; leaving surplus of $28, ITS, 5S7.- 32 for that year.
 In the foregoing statements of expenditures, actual and estimated, no amount IS allowed for the sinking fund provided for by the act approved February 25, 1869, which requires that per cent. of the entire debt ofthe United States shall be purchased or paid within each fiscal year, to be set apart as sinking fund.- There has been, however, a substantial com pliance with the conditions of the law. By it's terms, the public debt should have been re- duced between 1862 and the close of the last fiscal year, $518, 361, ,806. 28; the actual reduc- tion of the ascertained debt in that period. has been $720 GA. 739. 61 being in excess of the reduction required by the sinking fund act $2O2, 282, ,933 33. The amount of the public debt, less cash in the treasury, November l, 1S78 was 2,024, 200, ,083. 18-a reduction, since the same date last year, of $23, 15O, ,617- 39. The progress made during the last year: in funding the public debt at lower rates of interest is very gratifying. The amount of 4 per cent bonds sold during the present year prior to November 23, 1878 is $1OO, ,27O, 900, and per cent. bonds, commonly known as five twenties to an equal amount, have been, or will be redeemed as calls mature.
 It has been the policy of the department to place the per cent. bonds within easy reach of every citizen who desires to invest his sav- ings, whether small or great, in these securi- ties. The secretary of the treasury recon, mends that the law be so modified, that small sums may be invested, and that through the postofices, or other agents of the government, the freest opportunity may be givenin all parts of the country for such investments. The best mode suggested is, that the department be au thorized to issue certificates of deposit of the denomination of $1O, bearing interest at the rate of 3. .65 per cent perannum and convertible al | any time within one year after their issue Into | the 4 per cent bonds authoriZedby the refund | ing act, and to be issued only in exchange fol | United States notes sent to the treasury by mail or otherwise. Such provision of law, supported by suitable regulations. would ena ble any person readily, without cost or risk, te curity of the United States, and the money st l received could be applied to the redemption o1 l per cent. bonds.
 The coinage of gold during the last fsca 1 year was $52, ,798, 98O. The coInage of silver l dollars, under the act passed February 28 l 1878, amounted on the 23d of November, 1878 1 to $19, ,514, $50, of which amount $4, 984, 947 are in circulation, and the balance, $14. 829, | 6O3, is still in the possession of the govern ment. With views unchanged with regard tt the act under which the coinage of silver pro ceeds, it has been the purpose of the secretary l faithfully to execute the law, and to afford { l fair trial to the measure.
 l In the present financial condition of the country, am persuaded that the welfare oi legitimate business and industry of every de scription will be best promoted by abstanins from all attempts to make radical changes in the existing financial legislation. Let it bt understood that during the coming year tht business of the country will be undisturbed by government interference. with the laws affect l ing it, and we may confidently expect that thu resumption of specie payments which will take place at the appointed time, will be sue 1 cessfully maintained, and that it will be fol lowed by healthful and enduring revival O business prosperity. Let the healing influence 1 of time, the inherent energies of our people l and the boundless resources of our countrN have far opportunity, and relief from pres ent difficulties will surely follow.
 THE WAR DEPARTMENT.
 The report of the secretary of war show that the army has been we'll and economically supplied, that our small force has been activel, employed, and has faithfully performed al 1 the service required of it. The morale of thu army has improved and the number of deser tions has materially decreased during the year The secretary recommends:
 1. That pension be granted to the widow of the late Lieutenant Henry H. Benner, Eight eenth infantry, who lost his life by yellow fe yer while in command of the steamer U. M Chambers" sent with supplies for the relief c | emf in fho c0ufh from that 6ienacp
 ?. The establishment of the annuity schem for the benefit of the heirs ofdeceased officers as suggested by the paymaster general.
 B. The adoption by congress of plan flo the publication of records of the War of tn rebellion, now being prepared for that pur pose.
 4. The increase of the extra per diem of sol | dier teachers employed in post schools, an' liberal appropriations for the erection of build ings for schools and libraries at the diferen ports.
 g. The repeal or amendment of the act Q June 18 1878 forbiding the ''use of the arm. as posse c0DsitGtaGs, or otherwise, for the pur I pose of executing the laws, except in sucl cases and under such circumstances as may b expressly authorized bv the constitution or b. act of congress"
 6. The passage of joint resolution of con gress legalizlng the issues of rations, tents am
 medicines which were made for the relief 0 sufferers from yellow fever.
 r That provision be made for the erectio of fire proof building for the preservation Q certain valuable records, now constantly expos efte destruction by fire.
 These recommendations are all commende to your favorable consideration. 4------ THE NAVY BEREAVEMENT
 The report of thesecretary of the navy show that the navy has improved during tho las fiscal year. Work has been done on seventy five vessels, ten of which have beeD thorough ly repaired, and made ready for sea. Tw others are in rapid progress toward completior The total expenditures of the year. includin
 the amount appropriated for the deficiencies e the previous year, were $17, ,468, ,392. 65. Tn actual expenses chargable to the year, exclu
 sive of these deficiencies, were $13, 306, 914. 09 or $767, 199 less than those of the previou
 year, and $4, 92S, GIT. "A less than the expense
 including the deficiencies. The estimates fo
 the fiscal year ending June 30, 1880, are $14,
 562, 381 45-exceeding the appropriations C | +l,o praeo,t uoar ouIv &QQ QA0 7R vubinh ovooc