Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1880-12-16

sire and the intent of our people 1t is also man
ifeSt that the efforts of other European nations to
contend with Great Britain for a share of this
commerce have been successful in proportion with
their adoption of regular steam-postal communi-
cation with the markets whose trade they sought.
Mexico and the states of South America are an
xiouS TO receive such postal communications with
this country. and to aid IN their development.
Similar cooperation may be looked for. in due
time from the eastern nations and from Australia.
1t is difficult to see how the lead in this movement
can be expected from private interests. In re-
spect of foreign commerce, quite as much as in in
ternal trade. postal communication seems neces-
sarily matter Of common and public administra-
ton, and thus pertaining to government. | re
spectfully recommend to your prompt attention
such just and efficient measures as may cOnduce
to the development Of our foreign commercial ex-
changes and the building up of carrying
trade.
In this connection desire also to suggest the very
great service which might be expected in enlarg-
ing and facilitating cur commerce on the Pacific
ocean, were transmarne cable laid from San
Francisco to the Sandwich Islands and thence to
Japan at the north and Australia at the south.
The great influence of such means of eommunica-
ton on these routes of navigation, in developing
and securing the due share of our Pacific coast in
the commerce OF the world, needs no illustration
or enforcement. 1t may be that such an enter
prise useful and in the end profitable as 1t would
prove to private investment, may need to be ac-
ceerated by prudent legislation by congress in its
aid, and | submit the matter to your careful con-
sideratiOn.
An additional. and not unimportant. although
secondary, reason for fostering and charging the
navy may be found in the unquestionable service
to the expansion of our commerce. which would
be rendered by the frequent circulation of naval
ships in the seas and ports Of all quarters of the
globe. Ships of the proper construction and
equipment to be OF the greatest efficiency in case
Of maritime war, might be made constant and
active agents in time of peace in the advance
ment and protection of our foreign trade and in
the nurture and discipline of young seamen, who
would, naturally in some numbers, mix with and
improve the crews of our merchant-shipS. Our
merchants at home and abroad recognize the val
ue to foreign commerce of an active movement
Of our naval vessels, and the intelligence and pa
triotic zeal of our naval officers in promoting
every interest of their countrymen, is just sub
iect of national pride.
FINANCE.
The condition of the financial affairs of
the government, shown by the report of
the secretary of the treasury Is very salts
factory. 1t is believed that the present financial
situation of the United States whether considered
with respect to trade, currency, credit growing
wealth. or the extent and variety of our resources
Is more favorable than that of any other country
of our time, and has never been surpassed by that
OF any country at any period Of its history. All
our industry thriving; the rate of interest is
low; new railroads are being constructed; vast
immigration is increasing our population, capital
and labor; new enterprises in great number are
in progress and our commercial relations with
otner countries are improving.
The ordinary revenues from all sources, for the
fiscal year ended June 30, 1880, we're
Prom customs - s1S6 522 O64 so
From internal revenue 24OO9 87$ o.
From sales OF public lands .. 1,o16@06 90
From repayment of interest by Pacific
Railway Companies. 1,7o7867 IS
From cSmp3Riss g3s6@S 7ss: 31s; 5s53iiis@ ] 90
1887 O20 90
From proceeds of sales of government
From profits Of coinage 2,792iss IS
From revenues of the District of Columbia 1909
From miscellaneous sources.......... 4,099,6O3 IS
Total ordinary receipts 1888 ,61O 9S
Total ordinary expenditures for the same period
were:
For civil expenses, ........ ...-.... 1868 55
For foreign intercourse. 1,211, ,49O SIS
For pensions, Including 8i9,Sii OBS 20 ar
rears of pensions 56777174 A
river and harbor Improvements and ar
senals a8,1I6916 %
at navy ls,5s6,ss4 IA
ing public buildings, lighthouses, and
collecting the 8l,5S5,691 90
trlCt OF Column 3,2123S4 IS
For interest the public debt..... 95 757 SIS II
For premium on bonds purchased. 2,795320 AZ
Total ordinary expenditures. S2G7 642 957 7S
Leaving surplus of......... S65 653 20
Which, with an amount drawn from the
cash balance in the treasury of..... S,O84 434 81
Making 0S7 IL
Was applied to the redemption
Of bonds for the sinking fund... S73,652 900 90
Offractional currency 251,717
Of the loan of 10000
Oftemporary loan 100
OfbOunty=land sCrip. 25 00
OF com pound interest notes - 16,5OO 90
OF 7.30 notes of 1864 1850 90
OF one and two year notes. 3,7O0 90
OF old demand notes. 495 90
s73,96S,OS7 Al