Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-04

| Inc Ordinary expenditures Ior Inc sam
period were:
For Civil Expenses. s57,2ls,75O 9
For the Military Expenses, In
| Guiding River and Harbor... 1875, 494 1
| For the Naval Establishment. 1909, Ci6 q
Por Indians ..... 9,736,747 4
For Pensions. . 61,345, 1873 8
| Interest on Public Debt. 500. 7l,017,206 z
Total Ordinary Expenditures. 1881, 439 5
The receipts of the government shoy
| an increase over those of 1881 of $22,151,
O54.23 in the revenue from Gus
toms; $11,2S3, 2O9.94. from the in
internal revenue; $2,551, 177.20 from sale
of public lands; 6,7O7, 1864 from miscel
| laneous sources, making a total increase il
the net revenue of $42, 742,957.91. Thu
total net revenue was S403,525, 250.2S. Tit
| net expenditure decreased from S260,712.
! 1888 to S257,961.44 a reduction o.
| $2,731, 447 SO, which, added to the increase
| makes $40, 474,40 il the surplus rev
enue applicable to the reduction of the
public debt. The expenditures on account
of interest on the pnblic debt show re-
duction of 81, .534 .39-from $S2.50S,-
741.1s in 1881 to $71,077, 206.71 in 1882
The excess of revenues over expenditures
was $145,543,S1O. and the
amount applied to the reduction of the
debt $780, ,505.55. The amount stand
ing on the books OF the treasury to the
credit Of the disbursing officers Of the
United States at the close of the fiscal
year was $36,O67 .s72.4S.
THE PosTOFFICE DEPARTMENT.
The receipts for the fiscal year on &C
count of the postofice department were
$31 1856, O62.3O, and the expenditures $780,
265,29S.43. OF these amounts $20,211,-
99178, or about one-half, was received and
expended directly by the postmaster, with
out being deposited in the treasury. The
unavailable funds of the treasury decreased
from $29, 521. 632.72 to $29.517, 1852.
EXPORTS AND IMPORTS.
The exports for the last fiscal year
were $733, $780, 1872, as against $685.
925,947 during 1881, decrease of
$150,6S6,2 PIG. The value of our exports of
cotton was $199,S12,644. The value of
the exports of breadstuffs amounted to
$1s2,97O,52S. The imports during the year
amounted to 1921, 639, 574. balance of trade
in our favori face of our decreased ex-
ports aggregated nearly $26,OOOOOO.
REDUCTION OF TAXATION.
The president congratulates the country
upon its prosperity, aud favors rigid
economy in public expenditures and re-
duction of the internal taxes. He endorses
the recommendation of the secretary of
the treasury that the tax on distilled
spirits, tobacco and fermented liquors be
reduced to a minimum consistent with
sufficient revenue to meet largely in
part the ordinary demands of the
government. He favors otherwise the alb
clifton of internal taxes, leaving spirits,
tobacco and fermented liquors to bear the
burden.
REFUNDING.
A considerable portion of the message is
devoted to a report of the operations con-
nected with the refunding of the three and
half per cent. bonds into three per cents.
From the fact that these latter bonds rule
at premium, the president suggests to
congress that in his opinion the time is
now ripe for legislation which will enable
the secretary of the treasury to further con-
tinue to refund the debt. He thinks the
experience of the year conclusively shows
that the bonds of the nation bearing 3 per
cent. interest can be successfully
placed. He aggregates the amount of
interest it will require to pay the four and
four and halls if they remain outstand-
ing until maturity, and concludes that
wise craftsmanship ought to find out some
means of escape from the burdens of such
heavy drafts upon the treasury on account
of interest. He recommends no specific
plan, but if some portion of the bonds are
not funded, favors a modification of the
law, so that national banks may in some
way have the advantage of the premium
on such bonds as are held by the United
States treasurer to secure their circulation.
THE TARIFF,
Touching the tariff, the president renews
his recommendation of last year, that
the existing laws need revision.
He expresses the hope that
the labors and the report of the tariff COM
mission may be so enlightened as to facili-
tate congress in dealing with the subject.
The president also renews his recommend
alton for the early retirement of the silver
certificates, on the ground that they form
an unnecessary addition to the paper cur
rency, which he thinks can be supplied in
sufficient amounts to meet the demands of
trade by national banks.
GOLD CERTIFICATES.
An interesting clause of the message is
devoted to the gold certificates. Of the is
sue authorized by the act of July II, 1882,
$13s, 100000 has been ordered printed for
issue; up to Nov. 1, 100000 had been
issued, and $14,S27,OOO are held in the
vaults of the several United States
treasures, leaving actually out
standing S9,S62,2S9. Up to
Nov. l last there had been coined IN
der the act of Feb. %, 1873, lbs, 1923. $50
standard silver dollars, of which $93,006,-
3S2 remain in the treasury vaults, and
$50 1926, 49S are in circulation. The presi-
dent favors the repeal of the law which
requires fixed coinage for each month,
and recommends that it be left to the. dis
creticn of the secretary of the treasury.
THE NATIONAL BANKING SYSTEM.
Abiding to the national banking sys-
tenn the president directs attention to the