The home journal. (Winchester, Tenn.) 1858-188?, 1878-12-12

been made by a naval vessel o, the United
States, with q view of its occupation rs a
naval station, il found desirable to the
service. Since 1.-The resumption of diplo'
matte relations with
MEXICO,
correspondence has been opened and still
continues between the two governments
upon the various questions which ut one
time seemed to endanger their relations.
While no formal agreement has been
reached as TO the troubles on the border,
much has been done to represS and diminish
them. The effective force of United States
troops on the Rio Grande, bya strict and
faithful compliance with instructions, has
done much to remove the sources of dispute,
and il is now understood that a like force of
Mexican troops on the other side OF the
river is also making an energetic movement
against the marauding Indian tribes. This
government looks with the greatest satisfac'
ton upon every evidence Of strength in the
national authority Of Mexico, and upon
every effort put forth toprevent or to punish
incursions upon our territory. Reluctant to
assume any action or attitude in the control
of these incursions, by military movements
across the border, not imperatively de.
manded for the protection of the lives and
property of our own citizens, shall tax
the earliest opportunity consistent with the
proper discharge OF this plain duty, to re.
c0gnize the ability of the Mexican govern.
ment to restrain effectively violations of our
territory. 1t is proposed to hold next year
an international exhibition in Mexico, and
it is believed that the display of the agri.
cultural and manufacturing products OF the
two nations will tend to better understand
ing and increased commercial intercourse
between their people. With
BRAZIL AND THE REPUBLICS OF CENTRAL
AND SOUTH AMERICA,
some steps have been taken toward the de-
velopment of closer commercial intercourse.
Diplomatic relations have been resumed
with Columbia and with Bolivia. A boun>
Diary question between the Argentine Re.
public and Paraguay has been submitted by
those governments for arbitration to the
President of the United States, and have,
after careful examination, given a decision
upon 1t. A naval expedition up the Amazon
and Madeira rivers has brought back infor>
nation valuable both for scientific and
commercial purposes like expedition is
about visiting the coast of Africa and the
Indian ocean. The reports of diplomatic
and consular officers in relation to the de-
velopment of our foreign commerce, have
furnished many facts that have proved OF
public interest, and have stimulated to
active exertion the enterprise OF our people.
The Report of the Secretary of the Trea
sury
furnishes detailed statement of the opera
tons of that Department of the govern
ment, and the condition of the public
finances.
THE ORDINARY REVENUES
from ali sources for the fiscal yea, ended
June 80, 1878, were S257, 763,S7S 70; the
the ordinary expenditures for the same
period were 1865 1876 So leaving a sur
plus revenue for the year of B2O799,55l 80.
THE RECEIPTS
for the present fiscal year, ending June 80
1879, actual and estimated, are AS follows
Actual receipts for the first quarter, com
mencing July 1, 1878, 1913. 3S97i3 43; estiN
mated receipts for the remaining three
qua. tiers of The year, 1892, 10, 2j6 81; total
receipts for the current fiscal year. actual
and estimated, 1864, 100000. The expendi-
lures for the same period will be, actual and
estimated, as follows: For the quarter COM
mencing July 1, 1873. actual expenditures,
S74,444, 573 81; and for the remaining
three.q quarters of the year, the expenditures
are estimated at 1856, 755,4 25 70, making the
total expenditures s24 100 90; and leaving
an estimated surplus revenue, for the year
ending June &c. 1879, of 32l, 100000.
THE TOTAL RECEIPTS
during the next fiscal year, ending June 30,
1880, estimated according to existing laws,
will be 1864 800, 000 and the estimated or
binary expenditures for the same period,
will be 1896 ,320,4l2 6S; leaving surplus
of $2S,l79 5S7 80 for that year. In the
foregoing statement of expenditures, actual
and estimated, no am cunt is allowed FOR
THE SINKING FUND
provided for by the act approved February
25, 1862, which provides that one per cent. OF
the entire debt of the United States shall be
purchased or paid within each fiscal year to
be set apart as a sinking fund. There has
been, however, substantial compliance
with the conditions of the law. BY its terms,
the public debt should have been reduced
between 1862 and the close of the last fiscal
year, $51S, 1861 800 IS; the actual reduction
Of the ascertained debt, in that period, has
been $720,645,739 81 being in excess of the
reduction required by the sinking-fund act
$500, 2S2, 1888 80. The amount of
THE PUBLIC DEBT,
less cash in the Treasury November |, 1873,
was 50, 024, 200,0S3 ia reduction since the
same date last year of 1913, 150,67 80. The
progress made during the last year
REFUNDING 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
90, 1878, is $l00,270900 aud six per cent.
bonds, commonly known as fveNtwenties, to
an eanal amount have been or will be re-
deemed 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 de-
sires to invest his savings, whether small or
great, in these securities. The Secretary OF
the Treasury recommends that the law be so
modified that small sums may be invested,
and that through the pOsiO6ices or other
agents of the Government, the freest oppor.
tunity may be given il all parts of the coun.
try for such investments. The best mode
suggested is, that the department be author
lied to issue
CERTIFICATES OF DEPOSIT,
of the denomination of ten dollars, bearing
interest at the rate of three sixty-fve per
cent. per annum, and convertible al any
time within one year after their issue into
the four per cent. bonds authorized by the
funding act. and to be issued only in ex>
change for United States notes sent to the
Treasury by mail or otherwise. Such pro-
vision of law, supported by suitable regula-
tions, would enable any person readily,
without cost or risk, to convert his money
into an interest bearing security OF the
United States, and the money so received
could be applied to the redemption of six
per cent. bonds.
GOLD AND SILVER COINAGE.
The coinage of gold during the last fiscal
year was $50, 7sS $50. The coinage OF silver
dollars, under the act passed February 90,
1873, amounted on the 23d of November,
1875, to s19, 1850, of which amount 81 9Si, ).
947 are in circulation, and the balance,
ga, s29, 6O3, is still in possession Of the Gov
eminent. With views unchanged with re.
gard to the act under which the coinage OF
silver proceeds, it ha, been the purpose oil
the Secretary faithfully to execute the law