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The Treasury

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itary reapectfu ly rüuewu his ineudatloa of la t .■ ar, with a iniüTrii eoonnu:y in tbepublio ■■■i ■ . oaanent orgniztion of n uu coujuiiliuö lor ich house be establisbed, who shal: kivo leve to .ruif; tb reuen of congresH, with power to Bedd lor persons and papera, and to examine all expnndituros of th government; tJiat rule be adopted by the iou -ei limitlng 'ppropriatlon bilis to uih ofappropriaiiou and excludiiiK lHgislative provisions; that all appioprlatlona, xoept for the interöst on the public tlebt, limiied to a period not iing twoytarn, and that the expendIture ol approprlatlons be stricüy conüned to the pwriod of timo for which they were appropriated. ccording to the aeorétry's (maten, thesurploareveuue, aller.provldlpii ior the sinkiug t'uml for eaob year. will be nearly oue hundred millious for the two years onding June 30, 18S2. This is nearly doublo the surplus heifetofcra available' lor reiiUL-ing Uw pablio dsbt; and the seori lury raixe tho quesiion wnetber the' Hurplus nIikII continue to be devi .tcd to iliat puipose, or tuxes now imposed bO rednced 10 theexlent of thesurplu . Ha favors the former courste, but suíígeats that jn uase the oth'-r course be taken the txes imiiosed by the internal revouue luw, olherthsu t'. oaeon bauk circulation, ou spirits, tobáceo and leruienteü liquors, be reptaled. Tlie eeretary re■r.i, uu n.t.s tbxt the ilüO,lOO,ÜOÜ bondM fallinu uu.: in lteSl, aml ( iivmoui ofwhioh is iiot vet próvido. for, he rofunded by tlie issua oí treasury nou-s luuning lioni one to tcu jears, iu denouiinations Dot than ten dolíais, and beanne interest not exoeeding four per cent. Ho also reciniínenda th Issue of 1400,000,000 bonds beariiif; interest at abuut '6 por cent. and redeemable at the pletu-uiv ofthegovernini'iii afifr, wilh which to refund part of ii e biaa inttTOnt bond not provideti for Uy t!:e abovo issuo of notes. Uuder tlüs iuaug uient the secretary i)olioos ihat the ilipariinnut can witbin a year redt ui all the (ivo aud six ptr cout. bouds now outstanding, and bo reduce the iulerebt on the national debl 312_(K)0.000. Reíerring lo tlie resumplion act the', secrelary s-iya all the n-.iiimuHiis have lpen oxecuifcd, and tho wisdom of the act bas been deuuonstrated. H bp.lieves that wil hout new legialation tlieeuUreamount of Uinu-d States notes, now oulstandiii; can be eat-ily maintaned at par in coin t.vun il' the present favorable tinmcinl oondltion süould ehange; lut todo (his the coi u reserve must bo kept uuiuipau ed except by sucu payuienta. The coinage exeouted at the mint during the fiscal year has f xceeded ín valne that of any previous year since tho orlíMii. tilín ol the go vern ment. lts lotal ainouut, notiocluüing the minor coiDag, was $8l,ltH),17ii, of which about62,000,0(H) wa trom doCDextic aud the rest trom iuiported bulllon. Tlu estimaUd coinae id the country at tho date of rusuinplion, January 1, 1H79, was ?384.8S3,929, and ihis 'tmi li ui been lncreased by coinane and importa up to November 1, 1880, ln oluding bulliou in niinis, to Ï6i2,2()3,9t)3. Of the cilver dollars ooined beiwcenFebruary 28, 1878, whcn the silTer oinage bill was passed, ap t Nove mber 1, l.Q8-j, onlj abom 2ö,00 ,0i)U were inciri;iilali n, while Í47,UUO,O(JU rtüiaitied lu the trtasury. Tiie Becretary, therefore, recouiiici d-i that lbo turllm: compuUury o irihu, of the silver dollar at lbo ralu of.' 12.000,000 a inontti be buspended. capital Htock of ttifi na ion: 1 bAQkw Ou Uctober ], 1880, was 5407,6.3 8;0; surplus, 1120,618,683, aud the totel 'ircula' loa oatatanding, 343,949,89i. The uun bt.. ot uatii nal bauks in operatiou atthatü.te was '2 095, being a ïeatcr nuinbsr ever befure. 'ihpy are orgauized inevory state exc;ipt Miasis&ippi. Tho (Capital stock ui the national bank 3 $47,OOU,OOU les thau in IS75. t'lie ï'wport deals at sotne lenglhwitb Lhe exporta and iuiports ol inerchaudis aud sUjw a gratilyiug iucreaso in the (xess oí exporta over iaiports in the ]asi livo years. Re'errinf? to the reglriction piid by üreat Hriluin on Cho lojportati n of livo i-a'tle from thfl Uiiiio.! macea on aooount ( aileged contag'.ou.s olsease, tbo secretary t-ays correspondeuce bat beun going ou betweeii llie two gomeramente on tbo queiiouand Gieat Bntaiu is ready u icinovo lue restricliou as soon as congress wlll trtko strps (o provoni iha ezportatiou of ciiseAftid caltle; arni lor this pnrpoae U reootmnbiiti the appuiuL.(-nt oi a oocamlasioa te investígate Uje (lisease and toreport ineaures. íur i supiros8ion. Tliu disproportlon between tii' oomuioOilieu cariied iu Aaierin and. thoe carried iu foreiijii vessel lili oontánue, the forelKO arrying tri de lm Anicricm bottouss is 50 percent ieM thun it ha.-s beeu, or toan it tnigtit be. Ast retiieiiy the so rotary recommonds ibat c iiier AuiHiicaiiH be llowed to pun-liase resselü oí forelgn bul ! or that bouuties !" üiven on hemo-buüt vssels. Iu reviewing the worK nnd condition '■i the life saving siryko vhe Hecretary calla special altention to the loss of .six uimi of the crew at Foint aux B.trqueM. BtfkdOD, and pays a tributo to ihtirgallanlry, but inakee noieoomuiendatiou provisión tor their widowed audi orpbaaed families. The roport closea with a general coiiiplimentary reforenc i to tk (cr tar'sassociates and subordlnuiesln the departan nt.


Old News
Ann Arbor Democrat