National Republican., 1881-12-07

The tax on the deposits in national banks and
upon their capital, In the judgment Of the Depart
nent, may with propriety and Justice be lesscned,
i mot entirely removed, whencyorit is determined
Inht the public revenue exceeds the public needs
me tax on circulation is different IN It's nature. "
is q TAX on n frunchise Of profit TO the favored
grantee, and upon n subject in the furnishing Of
whicb TO the national banks the Government Is at
an expense. There seems to be n reason That
while taxation Is the means of meeting govern-
mental expenses this tax should not be among the
hrst TO be taken OF Thereare other minorsources
OF internal revenue that might be given up Keep
ing thatfromspirs, ,fermentedliquors, and tobacco.
Ihe other source OF revenue where a reduction
may be made is the customs. IL already appears
that the revenue from the customs for the year
ended June 30, 1881, was si9s l69,67602, being an
Increase Of fSllG3d6 AZ over the preceding year
penses of the Government, TO be Just, should bear
on all alike and equally, IL must also be one that
when the aggregate of iaxntion Is to be lessened
the reduction should be made in such ways that
all VIII be relieved alike and equally"
TRIAL OF CUSTOMS.
:. The Secretary suggests the propriety Of estab-
fishing new tribunal for the trial of customs
cases, OF their transfer TO some existing tribunal
like the Court of Claims. The opinion of experts
on the subject has been asked by the Secretary.
On the subject of claims the Secretary says: Au-
thority from Congress to refer any such claims as
the Secretary. may think proper to the Court OF
Sims nnnn would give 70 tne claimants ana 20 sne
which would not only do Justice to the parties but
prevent re.oxaminalions, which are now urged
upon every change Of Department officers"
The attention OF Congress Is called to the present
method OF classifying the duties collected upon
sugar, molasses, aud mclelo without recommended
tion upon the part OF the Secretary The Secretary
| reviews the bond operations Of the Department
during the year aud refers to the actions OF his
| predecessor IN the continuance OF the and per
cent. bond at lower rate Of Interest as entirely
successful, and concludes IL the excess of reve-
| nues over expenditures should continue as during
the past yearits application to the these
| bonds can be made at the discretion OF the Seere-
| tary, and to that extent the Government will be
| relieved from the necessity Of paying any premium
| in the CONSEQUENT reclamation IFS bonded debt,
IL is not improbable that the subject OF the funding
of the public debt in bonds bearing rate ofin'
sidered by Congress during the present session.
| When that subject is taken up II is respectfully
sd that be bosdS sdSuq now Do ons%SdnE
known as the extended 6s and 5s OH
interest , az the rate Of 80 per cent, possess a
| ment. That quality Is In the power that the Gov
ernment has to call them in for payment at any
me baymen&t TO l9r years nd nhs
Is to be considered whether II Will be wise to give
1t up. The possession of IL enables the Govern.
of the public debt to the varying state of the pub.
lie means It will be difficult, probably, TO market
a loan at low rate Of interest M which should be
Indeed one of the requisites of a loan proposed
ut a low rate is that IL be issued for long term
and made irredeemabe until the expiration
debt at low rate is not likely to be sought for
save by those wishing permanent Investments, a.
hducinry holders of funds, or wealthy persons
with whom safety, stability permnnence, aud reg
ularty of income are OF more Importance than
high rate Of return. 1t Is also to be considered
tlint The gain that would accrue to the Govern
Inent from small reduction of the rate ofinteres
sto some extent lost in the expenses necessarii!
attendant on the making Of u new loan. 1t Is
part of the Information that the Department ha
from men engaged In financial operations that {
new new loan Of 3. per cent. would b
iion irredeemable. save by long term
Emphasis is put by them on this condition. Mont
have placed the term at less than ten years, mos
have put II at twenty, some have suggested Il tern
of forty years with an option In tho Government
TO pny ut the end Of ten. For these reasons TIN
Department makes no recommendation of le2isla
ton for the refunding of the bonds now outstAld
recommend that ii n new loan at q lower rate 4
offered there be given to the bonds long term o
payment"
The attention of Congress is called to the ne
cessity of more direct legislation authorizing
quarantning of imported cattle, and for providing
PLACES for the quarantine thereof aud for the ex
penseS attendant thereon
LtFE-SAvING SERVICE
Referring to the annual report of the Genera
superintendent of the Life-saving Service, til,
Secretary says " 1t Is necessary to make pro
vision for increasing the ccmptnSati) III of the dis
trict superintendent which Is too low, being bu
$1,000 per unnuln, except i'll IT, 2 two largest dis
lrlcts, where it is only $1,000. These officers civ
large bonds ranging from S2o.oes to $4,000 i
occupy all their time, aud the proper discharge
which involves the efficient conduct Of the serviC
in their respective districts"
: The attention of Congress Is also invited to til
recommendations heretofore made for the Csnl
lshmcnt of u retired list and the extension OF th
pension laws to the Revenue Marine Service, an
lhC subject Of prosecuting search for the ArCti
exploring vessel JCannette, as proposed by Captni
Hooper, is also commended. The balance OF Ill
report is II recapitnlation of the several bureau
! reports, which have been published from time
] time.