The Penn's Grove record., 1882-02-11
A TEVIEw Or rHE MESSAGE,
CONTIN JED.

n l. - VI -
CONTIN JED.
Our readers may think that the Pres
ident may write another message before
WI finish our review Of his initial one;
vat, it is the first TINA in the history Of
our country that a Presidents message
las been presented in a form adopted
Il our digestive intelligence, and We
take a new departure in thus working
up the salient points Of u national doc
ument that istoo frequently overlook
ed, and its merits overlooked. As a
rule the messages of our Presidents are
looked upon as ponderoUs documents
end are rarely critically rerused; but
10y our system they, that IS so far as
President Arthur's is concerned, can
he properly taken in detail aud properly
absoi bed. The President concurs in
The recommendation # The Secreta y
If the Treasury, that the fixed amount
sf coinage each month should re 7 E
psalrd and that so mHch coin sh9,l be
produced that will supply the demand.
The Secretary advises that the issue
Of gold certificates FOR the present lie
discontinued, and suggests that the
National banks DC forbidden to retire
1ieir currency except upon reasonable
notice Of their intention to do so. OF
the ST. 1000. 600 Of fractional currency
Ell | outstanding, only about $500
Las beer 9 e,med tie past year. The
suggestion that this amount may b.
properly dropped from future state
Inents Of the public debt seems worthy
OF approval. So also does the sugges-
tlon Of the Secretary as to the adyisa-
Aility of relieving the calendar of U1i-
ted States Courts in the Southern Dis
trict OF New YOrk by the transfer to
another tribunal Of the numerous suits
there pending against the Collectors.
We don't agree with President
Arthur in this particular. II there is
SIS, Q0o, 900 in fractional currency, it is
1t National indebtedness until called in,
and because only $50, 900 have been re-
deemed the last year there is no %justii-
cation in the suggestion 10 drop it out.
If IA" owes "B" ole hundred dollars,
aud "B" has neglected it, having place
cd tho due bill among his papers, 'sB"
would think it very strange il "a"
should that not hearing from
"B' for several years, he did not cor
slider the due bill a part of his liabili-
ties. Oh! no, that sort OF squelchiDg
out financial operation is not in accord
with the genius of financial economy.
IIE CUSTOMS REVENUE MAKE
FAIR SHOWING.
The revenue from Customs for the
past year was Sl9s, oj9. 676.O2 an in
crease of Sl1, 63Y,Gl1 u over that #
the preceding year. Sl6S. 09s ,562, 80 Of
this amount was collected at the port
of New York, leaving $50, s5I, 113.6 as
the amount collected at all the other
ports Of the country. OF this sum
$47, 977, 1877. SO was callected.on sugar
and molasses; s37, 2S5, 624. "A on wool
and its manufactures; S21 1862, ia. "a
on iron and steel and manufactures
thereof; sl9,03S, $50. 81 on manufactures
OF silk; SO ,S25, lis. 81 on manufactures
of cotton, and So ,4o9, 643.0 0 on wines
and spirits, making u fetal revenue
from these sources of Sl33 ,05S, 720. 81.
The expenses Of collection for the past
year were S., 1885 20, an increase
over the preceding year Of 1887, 410. 04,
Notwithstanding the increase in reve-
hue from Customs over the preceding
year, the gross value Of the imports,
including free goods, decreased over
twenty-five millions of dollars. The
marked decrease was in the value Of
unmanufacturel wool, S14, 023, $50, and
on that of scrap and pig iron, So, S70,-
81. The value Of imports of sugar,
on the other hand, showed an increase
of S7,457,474, OF steel rails 81 345, 521,
of barley 81, l54, 204, and Of steel In
liars, ingots, etc, $3.50, O46. Contrasted
with this, the imports were as follows:
Domestic merchandise, 500, $50, 259. AZ;
foreign merchandise, S18,451, BIO
Total, $702, 377 ,346. Imports of mer-
tnudise, s642 ga 6eS. Excess of ex-
ports over imports of merchandise,
$50, T12, us.
Compared with the previous year
there was an increase of sos, 73S, 6S8 In
tie value OF exports of merchandise,
and a decrease Of SIS, 29O, 11s in the
value Of imports. The aonual average
of increase of imports of merchandise
over exports thereof for ten years pre-
vioGs to June 80, 1873, was Sl04, S0G,-
922, but for the last six years there has
been an excess Of exports over imports
of merchandise amounting TO 81 $780,
Sos, 103, an annual average of 1896, 49,
OH. The specie value of the exports
Of domestic merchandise was 1876, 6l6,-
473 in 1870 and $3.50, 925, 947 in 1881,
an increase of S307, 1909, 464 or 1876 per
cent. The value of imports was S435,.
95S, 40S in 1870 and SG42, 664, 628 in 1881
an increase of S206, 1920 OF AZ per
cent. During each year from 1862. to
1879 inclusive the exports of specie ex-
ceeded the imports. The largest ex,
cess of such exports wei imports was
reached daring the, year 1864, when it
amounted to 500 ,204, 929, but during
the year ended June 80. 1880, ths i'm
ports Of coin and bullion exceeded the
exports by S75,S91, 391.
The above statistical information is
valuable as it furnishes a key to the
real condition of the debit aud credit
account Of the Government, and shows