The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1882-12-09

been hitherto courtcOusly guarded Oy tno reP-
resentatives of Great Britain
PREVENTION OF COLLISIONS AT SEA.
renew my recommendation Of such legs-
lation a. will place the United States in mar
mony with other maritime powers, with
respect to the international rules ioi the pre-
ventions OF collisions at sea
LONGITUDE AND TIME
In conformity with your joint resolution OF
the 3D. of August last, have directed the sec~
Rotary of state to address foreign governments
In respect to proposed conference for con-
pidering the subject OF the universal adoption
OF a common prime meridian to be used in
the reckoning of longitude, and in the regula-
ton of time throughout the civilized world
Their replies will, in due time, he laid before
you ,
between the principal powers for the inter-
change of official publications through tho
the medium of their respective foreign de-
partments. The admirable system which has
been built up by the enterprise of the Smith
sonian institute affords practical basis for
our cooperation III this scheme, and an ar
rangement has been effected by which the in
sttution will perform the necessary labor ut,
der the direction " the department OF state.
A reasonable compensation therefore should
be provided by law.
DIPLOMATIC AND CONSULAR SERVICE.
A clause in the act making appropriations
Tor the diplomatic and consular service con-
templates the reorganization of both branches
of such service on % sslaried basis, leaving
fees to inurc to the benefit of the treasury de-
partment | cordially favor such project as
likely 10 correct abuses in the present system
The secretary Of state will present ~ you at 81
early day plan for such reorganization.
THE TREASURY.
tons OF the treasury department is afforded
by the report of the secretary. 1t appears
that the ordinary revenues from all sources
for tho present year ending June 80, lSS2,
were rs follows: From customs, s22O, 4l0,
i:,O 2j from internal revenue, 40 491, 595 45;
from sales of public lands, 81, 153, 1906; from
tax on circulation and deposits of railroad
bonds. $500 7H -; from repayment of IN
, tercst by Pacific railway companies, SSiO, Doh
81; from sinking tusa for Pacific railroad
companies, s7H,27l.4.: from customs fees,
fues, penalties. etc, sl34 ,3334 800; from fees
70" consular letters patent and lands, S2,GjS,
9909,; from proceeds of sales of government
property, S3ll 80 So; from profits on coinage,
bullion deposits and assays: ~, IL, Gsi. %;
from Indian gust funds, 50, 100, 243 ~; from
deposits by individuals Cor surveying public
lands, S2,052, 306.3G from revenues of the
District of Columbia, 81, 10, 1i64l from mis-
cellaneous sources, $685., H. 3; total ordi-
nary receipts, $i03, -, ?502S
The ordinary expenditures for the came
period were; For civA expenses, ST., OF, 3S. ~;
for foreign intercourse, 81 ,3S7, 5SG.l9: for
Indians, 81, 136, 1910; for pensions, Sill, 345,
| 1913 95; for the military establishment, includ-
ing river and harbor improvements and arse
| nal, $500 1871 10; for the naval establish
ment, including vessels, machinery, and i'm
| provemrnts at navy yards, Sl5, 032, O462 20; for
miscellaneous expenditures, including public
buildings, lighthouses and collecting the
| revenue, S3l, $50. 81. 80; for expenditures on
account of the District of Columbia, $500
5i3.S7; for interest Oh the public
debt, 81 ,071, 2O6 -; total ordinary ex-
penditures, s251, 1887, leaving sur
| plus revenue Of sl45 3,Sl0.7l; which. with
an amount drawn from the'cash balancein the
treasury of $50, ~ ,G4 81; making sl66,2Sl,.
| 505 80 There was applied to the redemption
of bonds for the sinking fund, $50 019, $50; Of
fractional currency for the sinking fund,
S., 705, ll}; of loan Of July and August, 1861,
962, So, $50: Of loan of March, 1863, 81 A.
900; of funded loan of 1881, S31, l94, 40; of
| loan of 1858, 100000; Of loan of February,
1861, $685. 900; of tive-twenties of 1862,
| s2l0,000 of fye-twenties Of 1864, 4O,OOO;
OF ive-twenties OF 1863. 5000; Of ten
forties of 1864, So, $50; Of consols Of 1865,
| $S6 $50; of consols Of 1867, a40S, 80; Of con-
soils Of 1865, sl4l 400; Of Oregon war debt,
3675, $50; of old demand compound interest
and other notes, slS,35O; total, slG6,2Sl,-
505.!n
THE FOREIGN COMMERCE
Of the United States during the last fiscal year,
| including imports and exports of merchandise
and specie, was as follows: Exports-Mer-
chandise, $3.50, IA, PIP; specie, s49 AZ, 479 to-
tai, $3.50, a59, 736. Imports - Merchandise,
| III ,0t4. The excess of exports over imports
Of merchandise, s25, 902,6S3 This excess is
less than it has been before any of the previous
six years. as appears by the following table:
Year ended June 30, excess of exports over i'm
ports of merchandise, 1876, $79,G43, 4Sl; 1877,
$l5i, ,0M; 1873, s257, Sl4, 234; 1879, 1854,
66l ,6t3; 1880, sl67Gs5,612; 1881, ss59, 7l2, rs;
1882, s25, 902,6S3.
NATIONAL BANKS.
During the year there have been organized
III national banks and Of these institutions,
there are now in operation N26!'-a larger num-
| Der than ever before The value of their
notes in actual circulation on July /, 1882, was
1924 $50 45S l commend to your attention
the secretary's views in respect to the likeli-
| hood Of serious contraction of this circula-
ton and to the modes by which that result
may, in his judgment, be avcNed
| COINAGE
In respect to the coinage OF silver dollars
and the retirement of silver certificates, have
| seen nothing to alter, but much to confirm
| the sentiments to which gave expression last
year. A comparison between the respective
amounts Of silver dollars in circulation on
| November l. 1881, and on November |, 1882.
shows a slight increase of million and half
of dollars, but during the interval there had
been in the whole number coined an increase
Of 26,0OO000 OF the SIPS 600 thus far
minted little more than $50, DOC, 600 are in cir
eulation. The mass of accumulated coin has
grown 40 great that the vault room at present
| available for storage is scarcely sufficient to
| contain it. II is not apparent why it is desv
alse to continue the coinage now, so en6r-
mously in excess of the public demand
SILVER CERTIFICATES.
As to the silver certificates, in addition to the
grounds which seemed last year to justify their
retirement, may be mentioned the effect which.
is likely to ensue from the supply of gold GER
| tificates for which issuance congress recently
made provision, and which are now in active
circulation
REDUCTION OF TAXES.
| You cannot fail to notice with interest the
! discussion by the SECRETARY a. to the necessity
| of providing by Legislation some mode of free
| ing the treasury of an eNcess<h assets. In the
| event that congress fails to reach an early
agreement for the reduction of taxation, |
heartily approve the secretary's recommends
| ton of immediate and extensive reductions in
the annual revenues of the government 1t
| will be remembered that urged upon the at
| tention of congress at ts last session the i'm.
portanco of relieving The industry and enter
prise of thaucountry from the pressure of I'm
.Nftl At r,t