Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1881-12-09
SUPPLEMENT.

and obeyed Tho State Department stili con. |
manufacturing reports received from it's OIL |
| GERS abroad. The success OF this course |
us rs hn ana 70 meet lie
| rapidly increasing demand for these pubiica- |
tions, with special reference to the Atlanta
Cotton Exhibition hp October number OF
the reports was devoted to a valuable collec-
ton of papers on the cotton goods trade ofthc
world
| Tho International Sanitary Conference, for
| which In 1879 Congress nude provision, assem- |
bed in this city early In January last and Its
sessions were prolonged till March,. Although
| 1t reached no specific conclusion affecting the
future action OF the participant powers, e the
valuable. The full proceedings Of the session
have already been presented to the Senate.
TREASURY MAT1ERs.
| Tho report of the Secretary of the Treasury
represents In detail n highly satisfactory ex-
hibit OF the state of finances and the condition
OF the various branches of the public service
administered by that department. The ordin.
ary revenues from all sources for the fiscal
i61. The ordinary expenditures for the same
period were SsD,7l2,sSI:59, leaving
surplus of revenue of slOO,oss 4Ot.os;
the previous year was s29s52,9OllO. 1t is esti;
mated that the receipts during the present fiscal
srcs ss7S,Oo go, leaving surplus Of Slso,O0O-
| 600, applicable to the sinking fund and the re-
duction of the public debt. 1 approve the rec
tnat provision be made for the early retirement
of silver. certificates, and that, the
nepeaes FsurTrs Tsev we're ssned n pure
suance of the policy of the Government to main
tain silver at or near the gold standard, and were
accordingly made receivable for all customs.
taxes and public dues: About six millions of
them are now outstanding. They form an un-
cient amount Of which may be readily supplied
by the National banks. In accordance with the
act Of February ., 1873, the Treasury Depart
in value of silver bullion to be coined into stand
ard silver dollars. One hundred an 1 two millions
of these dollais have been already coined, while
only about thirty four millions are in circulation.
For the reasons which he specifics, concur IN
the Secretarys recommendation that the pro-
vision for the coinage of fixed amount each
month be repeated, and that hereafter only so
much be carried rs shall be necessary to supply
the demand. The Secretary advises that the
issue of gold certificates should for tho pres.
. | ent be resumed, and suggests that the National
banks may properly be forbidden. by law to re
notice or their intention 80 to do. Such legis-
! lation would seem to be justified by the recent
referred to in the Secretary's report. or
tho Sl5OOo,OO0 OF fractional currency still out,
STANDING only about has been redeemed
may properly be dropped from future state
ments of the public debt seems worthy of mp
! proval.
REVENUE FROM CUSTOMS.
! The revenue from customs for the past fiscal
B57,6ll AZ over that of tho preceding year
Sl3s 09s, $3.50 of this amount was collected Mt
the port of New York, leaving $50 25l, lib 63 as
the eo9ntry of ths ~ sum am tas was
e9lsctea Cd, on swgaT % and aEd ,s moasses man
ufactures, S2l,462 534.A on iron and
steel steel - and an, the the manufactures thereof,
Sla,0S,6B5.s on the manufactures OF silk.
5 SiO,S25, lis .2l on manufactures of cotton and
Q S6.469, ,6i3.0i on wines and spirits, making .
!. total revenue from these sources of $i8,0js,-
: 720.sl. The expenses of collection for the past
: preceding year of s;jS7,4lO.04, Notwithstanding
: the increase in the revenue from customs over
: the preceding year, the gross value of the I'm
I tco,SSo. GSsSS n'D''''S Ian ''''' '''' '''' '
y BONDS REDREMEr.
!, In the last annual report of the Secretary OF
y the Treasury the attention of Congress was
, called to the fact that Si69,65l,05O in nve per
= centum bonds and SOB, ,5I3, $50 in six per centuH
u bonds would become redecmable during the
q year, and Congress was asked to authorize the
u refundng of these bonds Mt a lower rate of in
= terest. TAe bill for such refunding having
= failed to become law, the Secretary of tn.
. treasury April last notified the holders of the
II $3.50 40j six per centum bonds then outstand
!. ing that the bonds would be paid at par on th'
v first day of July following, or that they nigh
!. - be CONTINUED" at the pleasure of the Govern
v ment, to bear interest at the rate OF three ant
!! one half per centum per annum. Under thu
u notice Si7S, ,05515O of the bonds were continue
!, at the lower rates and Sl7 redeemed
~ In the month of May like notice was given re
n specting the redemption continuance o
u y the s1S9 81 $50 Of five per centnm bonds thei
ia outstanding ana OF tneSe Siul,DUfUu were con
. tinued at three and one-half per centum pc
le annum and S3s, $50 redeemed: The six pc
er centum bonds of the loan of February sth
at 1861. and of the original war debt amount to
es gether to Sl4,125,S00 having matured during
N the year the Secretary of the Treasury CAV
"a notice of his intention to redeem the sam'
TO and such as have been presented hav
been paid from the surplus revenue. Tn
three and one-halt per centum bonds bein
e sA are available for the investment me Of surpiu
" revenue without the payment of premium
oe Unless these bonds can be funded at a muc
" lower rate of interest than they now bear,
Ut ngree with the Secretary of the Treasury that
" legislation respecting them is desirable
g REDUCTION OF TAxEs.
b 1t is a matter for congratulation that the bus
~. ness of the country has been 30 prosperous th
US past year as to yield by taxation large surpu
u nue. laws remain unchanged this surplus mu,
en- year by year increase on accounto tine ryducto
and because of the rapid increase of our popul
srs ton In 1854, Just prior to the insttutin
mt of our internal revenue system our popui
m tion but slightly exceeded N,OOOOU: by u
d. census of 1850 IL is bound to exceed 50OOO,t
~, 1t is estimated that even If the annual receip
IN ent the entire debt could be paid in ten year
re- In view however, of the heavy load of tax
tion which our people have already borr
we may well consider whether 1t IS not II
te- part of wisdom to reduce the revenue
IT, even II We delay "A little the payment of II
I ne debt 1t seems 10 me the time has arrived wht
TO the people may justly demand some relief fro
lily their present onerous burdens. and that by dt
AZ economy in the various branches of the publ
lat service this may readily be afforded. thereto
Sc cnncur with the S.cresary in recommending I
ep. abolition of all internal revenue taxes exec
,nt those upon tobacco in its various forms al
IN. upon distilled Up rts and fermented liquors al
All except also the special tax upon tie manufa
TED turers or dsalers in such articles. The rete
I'VE tion of the latter is desirable as affordii
in the officers of the Government supe
IN vision Of these articles foe the preventi,
oy; of fraud. l agree with the Secretary OF Il
ina nnon niatches proprietory articles D ayiI
our cards, checks aud drafts may with proprie
ope be repealed, and the law also by which ban
me and bank ers are assessed upon their capit
and deposits. There seems to be a gener
sentiment in favor of this course. In 4
OF present condition of our revenues the Il
lies upon deposits is especially unjust. 1t W
oh i,pr in, this ptryn w