The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1882-12-05

An oyrecuent was reached ai i'''s III
ls75 between the principal Powers Tor Tue
;nterchonpe of official publications through
thc medium Of their respective foreign ~
parfmcnts. The admirable system wnirI'
has been built I'D by the enterprise OF 'n1
Smithsonian Institution affords 4 piac'ica'
basis for our cooperation In this ,chch,f,
and an arrinoem has been ELECTED ny
which that institution viii perform Tue
necessary labor under the direction OF the
Department of state. a reasonable com
pensation therefor should be PROVIDED "!
law. .;o-
A clause i'm the act making appropria-
t;ons Tor the Diplomatic and consular SER
vice contemplates the reorganization Oh
both branches Of such service on u
salaricd basis, leaving fees TO enllre 10
the benefit of the treasury. cor
daily favor such project as likely 10 cor
rect abuses in the present system. Inc
secretary Of State will present to you al
an early day plan for such rcorgani-
zation.
TREASURY DEPARTMENT.
iulI and interesting exhibit OF the OF
erations OF the Treasury Department Is az
fordcd by the report Of the Secretary. IL
appear. that The ordinary revenues IRON
ali sources for the fiscal year ended June
30. 1882. were as follows: From customs,
2aO.A7O, 1920; from internal revenue,
SIG. 49,, 59J.4j; from sales OF pllDlIc
LANDS, si.7j3,1iO.37 from tax on
circulation and deposits Of national
banks, Ss.gjG, 1914. A: from repayment
of interest by Pacific Railway companies,
SSI0.5j4.37: from sinking fund for Pacific
Railway companies, S196,2 ~; from Gus
toms fees, fines. penalties, Nc., cl,3l3'3io
from fees, consular letters patent, ana
lands. S2.G3s. 990.97; from proceeds oil
sales Of Government property, S3l l,953.SJ
from profits on coinage. bullion. deposits
and ASSAYS. Si,1l6.G 93.13; from Indian
trust funds. Sj.70j, 2i3.22; from deposits
by individuals for surveying public lands,
y, 0j2. 30G.3G; from revenues OF the DIS
,rict OF Columbia. SLID, 116.Il; from mis-
ccllancous sources. S3.3S3, 445.l3; total or
binary receipts. Si03.52j, 2j0.2S.
The ordinary expenditures for the same
period were: For civil expenses, SlS,Ol2,-
3SG.A2; for foreign intercourse. Sl,3O'-
$50. 10: for Indians. S9.i 1910; FOR PEN
sions, SCI ,3ij. 1885: for the military
establishment. including river and har'
Dor improvements and arScnals, Si3,-
so. i0i 10: for the naval establishment
including vessels, machinery, and I'M
proyemcntS ut nayy-yardS. SlJ,O32,-
0iG.26: for miscellaneous cXpendi-
lures. including public buildings, hight
houses. and collecting the revenue. S3i,-
$50. 237 30; for expenditures on account ol
the District of Columbia. $3.50, jl3.sl
for interest on the public debt. 81. OU.-
206 19--total ordinary expenditures. S25i,-
eSl. 1881. leaving a surplus revenue oil
S1fj,5i3.SIO.71. which with an amount
drawn from the cash balance i'm the Trca-
sury of $40. 49,. G9i.Si. making SlGG,2Sl.
j0j.5j. was applied 10 the redemption ol
bond, Tor the sinking fund. SC0,079.lj0 OF
fractional currency for the sinking fand
Sjs. 7O5. 80 OF the Aan Of July and August
fSGI. S62.j72.0 $50: OF the loan OF March
1863. ~. 472,9O0 OF the funded loan OF 1881.
s37. 1874. $50 OF the loan OF 1858, 900; OF
the loan OF February, 1861. S3O3.o Of the
j-20's Of 1862. -, 100 4; % the 1-2O'> Of 1861
-. 400: OF the j-2o', OF 1865, SG.je0: Of the
1n-fO'> OF 1864. -2Jf,jjO: Of the
c0nsol> OF 1860. SSi.ijl; OF the con>ols oi
1861. SlOS.3j0: oi the cOnsols oi 1865.
Sal. 400: Of Oregon war debt. SG1j,2Jo
OF old demand. compound interest, and
other notes. SIS. 3jC-total. SIGG. .jGj.1j.
FOREIGN COMMERCE..
The foreign commerce OF the United
states during the last fiscal Year. including
imports and exports oi merchandise and
specie WIS a. follows: EXpotS-Mcrchan-
disc, S7j0.Ji2,2j1; specie, SlJ.il,.i,J-
total. S7g9,9j9.7 3G. lmporl>-Mcrchan-
disc. S12AG39.j74; specie. Si2.472, 800
tott. S1GH 1854. Excess of export, over
import, II merchandise. so, J02, 1888. Thi'
excess /, les, than IT hu. been before for any
OF the previous six years. rs appears 10y
the following table: Year ended June 30
excess of export, over imports of merchan-
di,c-1S1G. S79.Gi3, Isl; 1871. Sljl, ,O9l :
1873, 2j7.Sl4.23i; 1879. S26i,G6l. GGG
1850, SlG1,GS3.9l2: 1881, s2j9,1l2,1lS;
1882, so. 500 ,G>3. During the year there
have been organized III national bank.
and oi those institutions there are now i'm
operation 2,2G9, larger number than ever
before The value Of their notes i'm active
circulation IN JAY. 1852. was So l.GJ6. ijS.
| commend 10 your attention the Secrc-
tary's views in respect f. the likelihood OF
q serious contraction OF this circulation.
and 10 The modes by (which that result may,
I'm hls Judgment. be ayerted. In respect
90 the coinage OF silver dollar, and the re-
iremcnt 0f silver certificate, I have seen
nothing 70 alter but much TO confirm the
sentiments ~ which | gave expression last
year. \ comparison between the respectiVe
amounts of ,ilycr-dOllar circulation ON No.
ycmbcr I, ISL. and on November 1. 1852,
show a slight increase oi million and q
half OF dollars. but during the interval
there had been in the whole number coined
an increase OF S2G,OO0.OOO. vi the Sl2S.-
00o.0O0 thus far mintcd. little more than
$4,000 are i'm circulation. The mass OF
accumulated coin hlS grown SO great that
the vault room at present available for
storage is scarcely sufficient 10 con-
tain il. Ii is not apparent why it
il desirable TO continue this coinage.
now so enormously in excess OF the public
demand. A. TO the silyer-ccrtifcate.. in
addition TO the grounds which seemed last
year TO justify their retirement. may be
mentioned the effect which is likely 10 ell
sue from the supply OF gold-certilicateS.
for whose issuance Congress recently made
provision. and which are now in active
circulation. You cannot fail TO note with
interest the discussion by the Secretary as
to the necessity OF providing by legislation
some mode OF freeing the Treasury Of an
excess OF assets in the event that Congress
fails to reach IN early agreement for the re-
duction Of taxation. | heartily approve
the Secrctary'S recommendation OF imme-
dlate and extensive reductions in the an
nual revenues OF the Government.
THE TAX QUESTION.
IL will be remembered that urged upon
the attention of Congress at its l,st soss,on
the Importance OF relieving The industry
and enterprise OF the country from the
pressure OF unnecessary taxation. II is
one OF the tritest mayims Of political econo.
my that all taxes are burdensomc. however
wisely and prudently imposed, and though
there have always been among our people
wide differences Of sentiment rs TO tile best
methods OF raising the national revenues.