St. Landry democrat., 1881-12-17

:, 500 .40i.9S, This surplus was dE
" as follows:
" 70 the redemption Of bond for
the sinking fund ........... s.42Il.2D
8 Fractional currency for the link
y ing fund ........ 10000
| Loan of February 1861 1.ilS,HD
Territories of 1864 .............. 2,O!G. IL, y
Five-twenties of 1862 ........... 1880 u
l ! Fiyc-twentieS of 1864 3.4Gn IL
FiVC-tWenticS of 1865. ............. 300 II
7 COnSOlS of 1865 go. ............. li. 30 ip
COnSOlS of lHiI NEUTRALITY-SUSPICIOUS.. go. $50 r.
, COnSOlS of 1858. .............,..... ,s;1,iHJ y
!, Texas indemnity stock. ......... 100000 u
Old demand. cnnpound-inerest,
and other notes observation-disclosures. 1.S.f}GJJ d
' To the Increase OF cash i'll Treas
ufy ..-.-..........-.......,.. l4,G}..tj 4
The receipts of last ycarwpre greater thar
the yea before by S23.3l-.Ml. 10. The Gust ms
revenues were increased I'll 80. 81 l. A. and tho
revenus S1l,255Ull.lJ. There was decrease
of expenditures as follows In tn" Interior De
partmmt Tor pensions, Si1l, 7so.4s: for prcln
ums Oh purchased bonds. Sl.1}i,0.l.6i: and in
teresto IN the debt, SI3,2,4S s:S3GI The receipts
for thu present year ara estimated 1t S4GD,GEl-
Co., arl the expenditures at $40, 3QOo0.
Thereport recommends that National Bank,
at any time within two years prior tn the rXp;-
ratiorof their corporate existence, be allowed
to extend the period of succession by amend
ing tie article of association by the votes of
shareholders ow>ing two-thirds of the capital
if thcbank be found to be in good shape.
THE TREASURY RESERVE.
The Department. the report declares, has
| pursted the policy long established of retain
ing 81 a reserve forredcmption of bonds abor
! ~ Pc cent. of the notes outstanding. In
| dltlol, sufficient money has been kept in Il
| Treasury to meet all other demands and obi
! gatias outstanding The reserve has
| bee1 below II per cent, and never above :
| per tent., of the outstanding notes. The lii
eralpurchase and coinage of silver, and til
receipt of them for public dues, has failed
rails the market value of silver 1t is recon
NEEDED that measures be taken to repeal tn
actrequiring the issue of silver certificate
ane for the retirement of such as may be
CIRCULATION. 1t is recommended that Nationt
Baiks be prohibited from retiring their cuI
feHy except after Il previous notice of inter
tlm so to do, the length of such notice to b
iied by law. The compelling of such a motto
Walld prevent the banks from suddenly col
trcting the volume of currency. and creatin
tn embarrassment that followed the passageC
tie S-per-cent. Refund:ng bill of Congress E
TIE last session.
Between June ~, 1874, and 1878, silver col
WIS not legal tender in payment of Unite
Safes bonds. The report asks whether foreiy
bndholders who acquired their bonds durin
tas period may not regard the payment O
hese bonds now with silver coin as a breach
Nth. This Government. the Secretary saw
labundantly able to discharge its debts i
nOney which is everywhere accepted as Il tru
sandaru of value. Further, on the subject
silver coinage at the rate of S2,OOO,OOO pc
aOnth. he says:
We furnish the world with the largest Dol
ion of both silver and gold, and our export
command the best money of the world as the
.ver should do. and WILL unless we bind oul
selves to accept of a poorer. We need not AT
pear anywhere as supplicants when we clearI
nay be the contractors. Some of the Euro
oean nations whose concurrent action is neces
ary to any result that is sought, do not We
appear ready to accept limitation. and whe1.
'eady they may ask for a ratio that will be in
convenient for us to adopt, and reduce the
alto of silver below the standard of our conl
ge The most potential means of bringing
bout any concert of action among differeuk
nations would appear to be for the United e.
'tates to suspend for the present the conagd
i silver dollars. 1t is, therefore, recommend
d that provision for the coinage of a fixed
mount each month be repealed, and the Seed
etary be authorized to coin only so much aJ
VIII be necessary to supply the demand.
The revenue from customs for the past
seal year was S19S, l59, 616,G, an increase OF
1865 AZ over that of the preceding year B
II the amount collected, S13S, sos 062 80 was q
objected at the port of New York. LEAVING 4
d. 2'l 1868 as the amount collected at all the y
Their ports of the country. The expenses o. Ii
objection for the past year were IS. 1885,
n increase over the preceding year of 1887,
l0of, while there was an increase in the reyH
nue. from customs over the preceding year o
yer 81, 5O0,OOO''
mere was decrease in the value of imf
orts amounting to over sa5.OO0,OOo, manufactl
lred wool and scrap and pig-iron showing tha
lost of this decrease.
REDUCTION OF TAXATION
Inc report declares that an eoualization and
mplification of the tariff is necessary, bu}
aves the method and degree to Congress
ithouta recommendation. The question Of
sposthg OF the surplus Government revenues
IN TINS connection taken up. The Depart.
ent IS embarrassed in disposing of the sur.
us IN an economic and lawful way While
lere is an alleged stringency in the money
arket, the call for millions of bonds is slowly
seded, ana Its offer to purchase bonds is not in
III accepted. The entering of the market and
lying OF bonds at their current rates is not
commented, because experts show that
rs cannot be done without loss to the
Feasury. The announcement. too, of such
ice The report suggests that, In view
LuiS existence of a surplus of revenue il
lgnt De well to lessen certain taxes re.
lctlon OF the tax on liquor and tobacco is not
commended. But bank checks, matches an(
oprietary taxes are suggested us proper ones
lessen. 1t is further recommended that if
'hgress determines on decrease of the rev.
llle, II seek that end as well through revis-
n OF the existing Tariff laws as through an
atement OF the internal revenue.
REFCNDING MEASURES.
On the subject of the refunding measures of
e year the report says:
On the LIST of November there remained
ltstanding of bonds bearing three and a half
+ cent interest, payable at the pleasure of
e government after proper notice. 1868 $780,
}, included in which were $l2,03550O called
nus not matured. If the excess of revenues
er expenditures should continue as during
past year, its application to the payment of
bonds can be made at the discretion of the
Gretary, and to that extent the Government
IL De relieved from the necessity of paving
y premium of consequent redemption of its