Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1879-11-27
TREASURES REPORT,

664, 2S5; in 1873 $SS, 772. 800, and in 1879 1885,.
$50. The decrease in the note balance
arises from various causes, notably
from receipts for customs AMI internal
revenue of coin, from the amounts
paid out in purchase Of bullion for coinage
change of notes for gold and payment of
notes for foreign gold received at the assay
Office in New York, from the purchase Of
gold bullion with notes and payment of in
terest of the public debt in United States
notes, and from the payment Of arrears of
pensions. The most constant influence in
the decrease of the note balance is that
which proceeds from the purchase of silver
bullion for coinage, thereby depriving the
treasury of an equal amount of notes re.
ceipts. All the above mentioned causes of |
the department.. Since resumption, howev.
er, the treasury is deprived by the receipt of
coin paid Cor bullion of like amount of
United States notes, amounting probably to
per cent. of the annual revenues. This
PEI csntage is greater than the margin of
public receipts and expenditures, end will
in time, without the other influences men.
toned, render the balance in the treasury
first exclusively metallic, and then exclu.
the monetary operations of the govern.
ment will show. The annual receipts
from all sources are $274,000,000. OF this
amount at least24 ,OOQ, 900 is in liver dollars
or in silver certificates, that being the mini.
mum paid annually for silver bullion for
coinage, which amount speedily finds it's
way into the treasury-the more certainly
because payments for bullion are made
either at New York or San francisco, which
are both centres of large receipts by the
government. The maximum net note re-
ANTS ct foh
are payments of $267, O0O, 900 for general
expenditures, interest on the public debt,
war and navy establishments and pensions,
made in notes, or if made in coin its return
decreases the note receipts to that extent.
The excess OF note expenditures over note
receipts is therefore $l7,0C0,000, which is
the annual decrease of the note balance
from silver dollar coinage alone.
The treasurer says that unless the rules OF
so as to permit the payment by the trersury
! OF all or q certain percentage of the bal.
ancea in silver, it may become desirable for
the treasury to withdraw from relation
which renders over $30,0CO,t09 of lawful
money in its vaults unavailable for payment
at New York, the point Of greatest public
disbursement.
! The silver bullion on hand has decreased
during lhs yesr from 1864 ,G34 to $4,299,.
l24, on account Of the difficulty in making
purchases as prescribed in the act of Fesru
airy IS, 1878, st market rate which is helj
by the department TO be the equivalent of
the London rate.
A considerable portion of the report is
devoted to the subject of resumption of
specie payments ana refunding operations.
During the year there were redeemed
$64, lO7, S53 worth of United States notes of
all denominations.
The total coinage of standard silver do.
lara under the act Of February %, 1878, is
$45, FOG, 200, of which amount $33, 2O3 1853 is in
the minis and treasury offices, and $4,000,
the to'nl coinage, a. against 81, 622, 623 IT,
circulation at the same date last year, which
was 1853 per cent. of $1S,2S2,5 coined at
that time.
Treasurer Gil6llan expresses the opinion
that the rapid appreciation of silver bids
fair to solve the silver problem for this
country. He says there are Indications i!
the present 10 fluences continue TINT it. may
attain nearly to it's former re|a: ion to.gold
or at least approach to parity Herewith
FOsTOFFICE MATTERS,
! WAsHINGTON, November 18 The annual
report of Postmaster General Key il mac e
public to-day. A large portion OF it. is de.
voted to the presentation Ct statistical in.
| AV1 hlIctuy pOO1Asueu Ill AD6IIaECS OF
reports of his subordinate officers. The
postmaster general renews the recommends
ton contained in his last report for the
enactment Of law rea6justing the com.
pensation of railroads tor carrying mail
upon the basis of space, speed and fire.
quency, supplemented by the weight OF
mails carried. The railroad companies
have, as general thing, neglected to fur.
nish statistics of receipts, expenditures,
etc, as requested. Recomzaen dalton is
made that the appropriation to enable the
postmaster general to obtain proper faci'i.
ties Tor the prompt transmission of mails BY
railroad be Increased this year to $4CO 600.
The cost of railway service on the 3Oth Of
June, 1879, was at the rate Of 5000, 500 per
annum, an increase over the cost of service
during the preceding fiscal year Of $125, 1876
This increase does not, however, represent
the actual rate Of increase in the service. az
account must be taken Of the reduction of
per cent. in the rate of compensation from
July ], 1878, made under the act of June II,
1873. The amount of this reduction is in
ronnd numbers $4o0, 900, making, with the
1926, 1916, an increase of $525, 1895 for 1879
over 1878, being little less than 5. 05 per cent,
The general increase in business all over
the country, and q reasonable certainty
that; the present pros pefity will continue
for some years, will require the appropria.
ton for railway: service for the next fiscal
year to be increased to at least SIC, OOO, 600,
and the estimate il accordingly placed at
that sum. The estimate for railway
postofdce car service for 1881 is
placed at ST. 1000. The postmaster
general earnestly renews the rocommen-
dation of last year for reclassi6ca.
ton Of employees Of the railway mail SER
vice, as advised by the general superintend.
ent Of that service. Gen, Key reports that
the operation Of the present laws regulating
an increase of compensation for increased
speed and increased frequency of service
upon star routes, q. &, al those where.
on mails are transported by horses and or.
binary vehicles) results in great loss to the
government and recommends Liquidation to
enable him to retrench in this direction
E.timates for "star" service for the next
fiscal year contemplate acontinuance of the
present efficient service in other states, and
largely increased mail facilities in the states
of Indiana, Ohio, Kentucky, South Calo O..
lina,s North Carolina, Tennessee, Georgia,
Florida, Mississippi and Alabama. r The
total amount asked for s'star service forthe
next fiscal year is 81, s75, goo. The estimates
tor inland mail service BY steamship is
$SO0,OOO. ! + ,.sS u Il Y j 81 4 s. =,
= The report continues: 1.-THE effort of The
partment to establish fast mail service with:
Havana via Cedar Keys and Key West, in
order to meet the demands of commerce,
have failed for several years on account of
the tnsuficienoy Of compensation allowed
BY law for such service. + the postmaster