The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1882-12-07

States in harmony with other mari
time powers with respect to interna-
tional rules for the prevention of col
lisiOns at sea, in conformity with
your Joint resolution of the Sd of Au-
gust last, have directed the secretary
of state to address the foreign gov
ernments in response to proposed
conference for considering the subject
of the universal adoption of common
prime meridian, to be used in reckon
ing of longitude throughout the civil
lied world. Their replies will in due
time be laid before you.
An agreement was reached in Paris
in 1875, between the powers, for an
interchange of official publications
through the medium of their
respective foreign departments. The
admirable system which has been
built up by the enterprise of the Smith
sonian institute affords practical
basis for our cooperation in this
scheme. Arrangement has been
effected by which that institution
will perform the necessary labor I'M
der the department of state, and rea-
sonable compensation therefor should
be provided by law. a clause in the act
makes an appropriation for the diplo-
matte and consular service, and con-
templated the organization of both
branches of such service on salaries
on basis leaving fees to inure to the
benefit of the treasury. l cordially
favor such a project as likely
to correct the abuses in the
present system. The secretary of state
will present to you at an early day
plan for such reorganization.
THE TREASURY.
A full and interesting exhibit OF
the operations of the treasury de-
partment is presented by the
report of the secretary. 1t appears
that the ordinary revenues from all
sources for the fiscal year ended June
80, 1882, were as follows: From Gus
toms, S22O31, 540.25; internal revenue,
$146, 1897 ,595.45; sales of public lands,
81, 753, 1907; tax on circulation and
deposits of national banks, s., $50, O99. 40;
repayment of interest on Pacific rail-
road, 1874 ,O55. 43; sinking fund for Pacific
railroad, S796,271; customs fees, fines,
penalties, ETC., 1874 1874 ,4OS; fees consul
lates, letters patent and lands, $2,623,-
5000; proceeds from sales OF govern
ment property, 1914, $685.; from pro-
fits of coinage, bullion deposits and
assays, $411 ,869.73; Indian trust fund,
So, 7O5, 2.22; deposits by individuals
for surveying public lands, 5000
308.36; revenues of the District of Co
lumbia, S1,715, 1854; miscellaneous
sources, $685., 445.43; total ordinary
receipts, SAC, 1852, 525,0S. The ordinary
expenditures for same period
were for civil expenses, S1S,-
042, 1852; foreign intercourse ST.
307, 5S3.19; Indians, 1926, 1910;
pensions, SCI, 345, 1885; the military
establishment, including river and
harbor improvements and internal,
$43,59O, 494.19; the naval establish
ments and navy yards, $15, 0S2, 046.26;
miscellaneous expenditures, including
public buildings, light houses and col
Letting the revenue, So, 539, 237 80; for
expenditures on account of the Dis
trict of Columbia, 1880, 543.87; inter
est on public debt, 81, or ,206.79; total
ordinary expenditures, 1857 1881 1899
leaving a surplus revenue of $145, 543,-
$40; which, with an amount drawn
from the cash balance in the treasury
of $40, 1877 ,694.S4, making $166,2Sl, l.
505.55, was applied to the redemption
of bonds for sinking fund, $6O,079,-
$50; of fractional currency for
the sinking fund, $780, 55 I; of loans
of July and August, 1861, $62, 572, $50 !;
of loan of March, 1863, $4,472, 800 of
funded loan of 1881, $50, 1874, 400 of
loan of 1858, $1,000; of loan of 1861,
S3O3, 600 of 5-2Os of 1862, $4,000 of
5-2Os of 1864, $74O0 of 5-20s of 1865,
$500 of 10-4Os of 1864, $254, $50 of
consols of 1865, $50, 45O of consols of
1867, S408,250; of consols of 1868,
S141 400; of Oregon war debt, $685.
ESQ; of old demand compound inter-
est and other notes, $18,350 total,
$166, 1921, 505.55.
COMMERCE.
The foreign commerce of the United
States, during the last fiscal year, in
Guiding imports and exports of mer-
chandise and specie, was as follows !;
Exports of merchandise, $3.50, 542, 259 !;
specie, $49,417, 479; total, $799, 995, $3.50.
Imports of merchandise, 1874 ,639, 574 :;
specie, 42,472,39O total, 1851, III 1864.
Excess of exports over imports of
merchandise, $259,092,683. This eX-
cess is less than it has been before for
any of the previous six years, as APP
pears by the following table for the
year ended June 30: Excess of ex-
ports over imports of merchandise for
1876, $79,643,4S1 1877, $141 1872 094 /;
1878, $257, 814, 234 1879, $26, 466, 166 /;
1880, SIG, 75S, 1912; 1881, 1888, 49, 1S;
1882, $25 ,902,683. During the year
there have been organized III national
banks, and of those institutions there
are now in operation 2269, a larger
number than ever before. The value
of notes in active circulation July l,
1882, 1924, 656, 45S, ! cOmmendto your
attention the secretary's views in re-
spect to the likelihood of aserious con-
traction of this circulation and the
modes by which that result may, in
his Judgment, be averted. In respect
to the coinage of silver dollars and the
retirement of silver certificates, have
seen nothing to alter but much to con-
firm the sentiments to which L
gave expression last year. A compare
son between the respective amounts
of silver dollars INTERPOLATION or Nov.
l, 1881, and on Nov. 1, 1882, shows a
slight increase of a million and half
dollars; but during the interval there
had been in the whole number of coin
ed an increase of $26, 100000. OF the $128,
100000 thus far minted little more than
$35,O00,0O0a are in circulation. Themass
of accumulated coin has grown so
great that the vault room at present
available for storage is scarcely suffi-
cient to contain it. 1t is not apparent
why it is desirable to continue the
coinage now so enormously in excess
of public demand. AS to the silver GER
tificates, 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 certificates for
whose issuance congress recently
made a provision and which are now
in active circulation. You can't fail
to note with interest the discussion by
the secretary as to the necessity of
providing by legislation some method
of freeing the treasury of an excess of
assets.
REDUCTION OF TAXATION.
In the event that congress fails
to reach an early agreement
for the reduction of taxation, hearth
ly approve the secretary's recon-
mendation of immediate and extern
sive reductions in the annual revenues
of the government. 1t will be re-
membered that urged upon the at
tention of congress at its last session
the impor lance of relieving the in
dustry of the country from the pres
sure of unnecessary taxation 1t is
one of the truest maxims of political
economy that all taxes are burden
some, however wisely and prudently
imposed, and though there have al
was been among our people wide diff
ferences of sentiment as to the best
methods of raising the ma
tional revenues, indeed as