The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1883-12-07

If the revenue for the fiscal year which
will end on June 80, 1881, be- estimated upon
The basis of existing laws the Secretary is of
the opinion that for that year the receipts
will exceed by SG0,OO0.0 600 the ordinary en-
penditures, including the amount devoted To
the sinking fund. Hitherto the surplus, as
rapidly rs it has accumulated. has been de
voted to the reduction of the national debt
As a result, the only bonds now outstanding
which are redeenlable at the pleasure of the
TO about $3O5.OOO.OOO. The 4 l-3 per cents,
amounting to $50, 100000. and the Ss3i, 0OO,-
900 of per cents, are not payable until 1881
and 1907, respectively. If the surplus shall
hereafter be as large as the Treasury esti-
mates now indicate. the per cent. bonds
for any of the 4 II per cents. can be called
in. The latter, at the same rate of accumu-
latiOn of surplus, can be paid at maturity,
and the moneys requisite for the redemption
of the 1 per cents. will be I'm the treasury
many years before those obligations become
payable.
THE TRADE DOLLAR.
The trade dollar was coined for the plir-
pose OF traffic in countries where silver pass
ed at its value, ascertained by its weight and
finenesS. 1t never had a legal tender quail
ty. Large numbers of these coins entered,
however, into the volume of our currency
by common consent. Their circulation in
lDneStS tTiut Has HOW cedStu, anu tllty
have in the Unitad States become disturb
ing element. They should not be longer
permitted to eml'arrass our currency system.
| recommend that provision for their recep-
ton by the treasury and minis as bullion at
asnall percentage above the current market
price of silver of like tineness be made.
CONSOLIDATION OF REVENUE DISTRICTS.
The Secretary of the Treasury advises a
consolidation of certain of the customs dis
t..t of tt..n ~, hat
President he vested with sucf power in re.
latiOn thereto as Is now given him nv Sec.
ton 3,1il of the Revised Statutes. The
statistics on this subject which are contain.
ell in his report furnish of themselves y
strong argument in defense of his views. Al
the adjournment of Congress the number Of
internal revenue collection districts was 126
BY executive orders. dated June g, 1888,
directed that certain of the districts be con-
SOlidated. The result has been reduction
of One-thir d their number, which at present
is but eighty-thrce.
INDIAN AFFAIRS.
From the report of the Secretary of War
II will be seen that in only single instance
has there been any disturbance of the quiet
condition Of our indian tribes--a raid from
Mexico into Arizona by a small party of
Indians, which was pursued by Gen. Crook
into the mountain regions from which il
had come 1t is confidently hoped that Sc
riOus outbreaks will not again occur, and
that the Indian tribes, which have for so
many years disturbed the West, will here
after remain in peaceable submission.
COAST EXPENsIs.
again call your attention to the present
condition of our extended sea coast, upon
which are so many large cities whose wealth
and importance to the country would in
time of war invite attack from modern
armOred ships, against which our existing
defensive works could give no adequate pro