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Deposits of banks and bankers, tax on....

Director of the Mint, attention of Congress called to report of.

District attorneys, allowances to. for compensation.

Dollars, silver, have not been in circulation in the United States since 1857.

whole amount of, issued prior to 1853...

Page.
XVII, XVIII
XIX

if restored to our coinage, should be subject to the same rules as to issue and convert-
ibility as other forms of money.

Dollars, trade. (See Trade-dollar.)

Domestic products, other than bullion, exportation of, has largely increased.

exports, to Canada, returns of, incomplete..

XXXIII, XXXIV

ΧΙ
XXIII

XXI

XII

XXVIII

V

Estimated receipts for second, third, and fourth quarters of the fiscal year ending June 30,
1878

Estimated expenditures for the second, third, and fourth quarters of the fiscal year ending
June 30, 1878

Estimated surplus revenue for the fiscal year ending June 30, 1878

Estimated deficit on account of the sinking-fund for the fiscal year ending June 30, 1878..
Estimated receipts for the fiscal year ending June 30, 1879

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total, decrease in amount of, for the fiscal year ended June 30, 1877, as compared with
the fiscal year ended June 30, 1876

IV

for the first quarter of the fiscal year ending June 30, 1878

estimated, for the second, third, and fourth quarters of the fiscal year ending June 30,

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public, reduction of, can only be accomplished by a careful revision of existing laws.
Exports, domestic, coin value of, for the fiscal year ended June 30, 1877.
foreign, coin value of, during the fiscal year ended June 30, 1877..

VII

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Fees, consular, letters patent, and land, receipts from, for the fiscal year ended June 30,

1877..

III

Files, crowded condition of the, in several offices of the Treasury Department

XXXI

importance of securing the, from destruction, and providing for them such room as
will make them readily accessible, cannot be overestimated..

XXXI

Fog-signals. (See Light-House Establishment.)

Fines, penalties, and forfeitures, customs, receipts from, for the fiscal year ended June 30,

1877...

III

amount of, collected and paid into the Treasury for violation of customs laws..... XXVIII, XXIX
Foreign intercourse, expenses for, for the fiscal year ended June 30, 1877
Frauds on the revenue by undervaluation

III

XXVII

efforts to prevent, have not been attended with entire success

XXVII

change from ad valorem to specific duties suggested as a remedy for.

XXVII

Fractional currency, estimated amount of, lost and destroyed

XIX

exchange and substitution of silver coin for, required by act of January 14, 1875
aggregate of, and silver coin outstanding limited by joint resolution of July 22, 1876...

Funding operations:

XIX

XIX

amount of 4 per cent. bonds sold under contract of August 24, 1876, to March 1, 1877..
sale of 4 per cent. bonds limited by notice in May, 1877

VIII

VIII

terms of contract for the sale of 4 per cent. bonds, made June 9, 1877.
amount of bonds sold under contract of June 9, 1877..

VIII, IX

IX

IX

IX

how proceeds of sales were applied.

sales of bonds suspended in October, 1877, on account of the agitation of the repeal of
the resumption act and the remonetization of silver....

associates (syndicate) informed June 19, 1877, that as 4 per cent. bonds were sold for
gold, it was not anticipated that the government would sanction or tolerate their
redemption or payment of interest in coin of less value than the coin authorized by
law at the time they were issued

amount of 4 per cent. bonds sold for resumption purposes.

Gold, the importance of, as the standard of value is conceded by all.

has been practically the sole standard in the United States since 1834.

has been the sole standard in Great Britain since 1815

Gold and silver, various experiments made with a view of keeping both in circulation.
ratios of value established at different times.

an international convention of commercial nations suggested as a means of securing a
more fixed relative value of

Government property, receipts from sales of, for the fiscal year ended June 3, 1877.
Imports, coin value of, for the fiscal year ended June 30, 1877..

of specie and bullion...

Indians, expenses for, for the fiscal year ended June 30, 1877.

Interest, annual saving of, by reducing the rate from 6 to 4 percent. on debt now redeemable.
annual saving of, by reducing the rate from 6 to 4 per cent on debt redeemable by the 1st
of May, 1881

reduction of, from 6 to 4 per cent., will be arrested by any measure that creates doubts
or distrust

Internal revenue, receipts from, for the fiscal year ended June 3, 1877.

receipts from, for 1876 and 1877, from the various objects of taxation

Internal revenue stamps, heretofore printed in New York, now printed in the Bureau of
Engraving and Printing..

Joint resolution of July 22, 1876, provides for the issue of silver coin in exchange for legal-
tenders to the amount of $10,000,000

limits amount of silver coin and fractional currency.

Lands, public, receipts from sales of, for the fiscal year ended June 30, 1877..

Legal-tender notes, redeemed, retired, and canceled since March 1, 1877

amount of, outstanding December 1, 1877

outstanding January 1, 1879, to be redeemed in coin, under act of January 14, 1875.

IX

XII

XXII

XXII

XXII

XXII

XXII

ΧΧΧ

III

XXVII

XXVIII

III

X

X

X

III

XXX

XXXVII

XIX

XIX

III

XII

XII

XII

Legal tender notes, redeemed, after January 1, 1875, may, in the opinion of the Secretary,
be reissued, as the exigencies of the public service may require
legal tender quality of, was intended to maintain them in forced circulation at a time
when their depreciation was inevitable

when redeemable in coin, legal-tender quality of, may be withdrawn or retained with-
out affecting their use as currency in ordinary times...

legal tender quality of, should be maintained to meet the contingency of an unreason-
able demand for coin during a sudden panic.....

Page.

XIX

XV

XV

XV

Legislation recommended:

giving the sanction of Congress to the assurance that the obligations of the govern
ment shall not be paid in a coin of less value than that it demanded and received for
these obligations

to authorize the Secretary of the Treasury to sell bonds for coin or its equivalent in
United States notes ..

to authorize the Secretary of the Treasury to gradually fund into 4 per cent. bonds all
United States notes in excess of $300,000,000, the bonds to be issued at par in coin or
its equivalent in United States notes

to definitely settle the question whether United States notes redeemed when the out-
standing amount is less than $300,000,000 can be reissued

authorizing the issue of certificates for small deposits, convertible into 4 per cent.
bonds, the proceeds to be used for the redemption of bonds bearing a higher rate of

interest

repealing the limitation upon the amount of fractional coin to be issued in exchange for
United States notes.

to discontinue the trade-dollar in case another silver dollar is authorized.

to authorize the coinage and issue of a silver dollar with such legislative provisions as
will maintain it at par with gold.

creating a special tribunal for the trial of customs-revenue cases at New York.
changes in existing law recommended by the commission to investigate the New York
custom-house commended to the consideration of Congress.

to impose a duty of two cents par pound on coffee and ten cents per pound on tea
to require persons exporting merchandise to Canada by land conveyance to file mani-
fests containing quantities and values...

to so change existing law as to offer increased inducements for parties having knowl-
edge of frauds on the revenue to bring them to the attention of customs-officers..
to adopt specific duties, as far as practicable, in order to secure simplicity and uniform-
ity in the collection of the revenue from customs.

to abolish the port of Sitka, Alaska.

to change and modify various existing laws relative to the settlement of claims against
the government

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to provide for the construction of a substantial fire-proof building for the Bureau of En-
graving and Printing

XXXVIII

for the proper disposition of the large accumulation of minor coins in the Treasury for
which there is no demand

XXXVIII

to encourage American ship-building

XLI

to authorize the construction of a light-draught steam revenue-cutter for service on the
Gulf coast between Mobile and Lake Pontchartrain.

to organize the life-saving service under an administration defined by law.
to increase the compensation of keepers of life-saving stations

XLII
XLIII
XLIII

to extend the benefits of the marine-hospital service to destitute American seamen re-
turned to the United States under section 4577, Revised Statutes

XLV

that section 4405 R S. be so amended as to give the Secretary of the Treasury authority
to convene the board of supervising inspectors of steamboats at such time and place
as he shall designate

Life saving service, report of, affords a gratifying exhibit..

number of new districts organized during the fiscal year ended June 30, 1877..
number of life-saving and life-boat stations established during the same period..
an increase of the compensation of keepers recommended.

importance of the service requires that it should be placed under an administration de-
fined by law..

improvements in life-saving apparatus..

Light-house establishment:

number of light-houses, light-ships, river lights, and fog-signals put into operation dur-
ing the fiscal year ended June 30, 1877

XLVI

XLIII

XLIII

XLIII

• XLIII

XLIII

..XLIII, XLIV

XLIV

light-ship No. 42, now in course of construction, is expected to be the best ever built by
the government...

XLIV

attention called to the importance of providing for a new light-house at American Shoal
and Rebecca Shoal, Florida reefs, for which estimates have been made..
change in the mode of paying light-house keepers suggested.

XLIV

XLIV

Loans, six per cent., amount of, now redeemable at the pleasure of the government.
Marine-hospital service:

X

amount of dues received during the fiscal year ended June 30, 1877..
amount of expenditures during the same period

XLV

XLV

number of sick and disabled seamen treated during the year.......

XLV

average cost, per patient treated.

recommends that the benefits of the marine-hospital service be extended to American
seamen returned to the United States under section 4577, Revised Statutes...
the appointment of medical officers to the grade of assistant surgeon only, and their
promotion to the higher grades as vacancies occur have produced satisfactory results..
Military establishment, expenses of, including river and harbor improvements and arsenals,
during the fiscal year ended June 30, 1877..

XLV

XLV

XLV

III

Minor coins, in circulation, and legal tender for limited amounts since 1853
large accumulation of, in the Treasury vaults for which there is no demand
legislation for the disposition of, recommended

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Mints and assay offices, management, and amount, accuracy and perfection of work of, highly
satisfactory

XIX

Money, current, the rapid appreciation of, to the coin standard should be accompanied by
diminished expenses in the public service...

VII

amount of receipts from tax on circulation and deposits of, for the fiscal year ended
June 30, 1877

Money, paper, no system of, has yet been established in any country that in times of panic or
adverse trade has prevented the drain and exhaustion of coin reserves, however large
and well guarded

every system of, must provide for suspension of specie payments..
National banks, number of, in existence on November 1, 1877

Page.

XV

XV

XVI

III

amount of circulating notes of, retired during the year from November 1, 1876, to No-
vember 1, 1877

XVI

amount of circulating notes of, issued during the same period.
aggregate amount of circulation of, outstanding

XVI

XVI

amount of loans and discount of

general solvency of, and benefit to the people as now organized

have been less subject to revulsion or failure than any other corporations or firms.
notes of, should be convertible into coin

comparison of reserves and condition of, with reserves and condition of other banking
systems in specie-paying times gives assurance that they are able to redeem their
notes in coin at any date fixed upon by the government

XVI

XVI

XVI

XVI

XVI

should not enjoy the franchise of circulating their own non-interest-bearing notes as
money unless they are prepared to redeem them......

XVI

present system of redeeming notes of, at the Treasury of the United States, can be con-
tinued after United States notes are at par with coin as well as now.

XVII

will naturally hold United States notes as reserves if maintained in circulation at par
with coin

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as government agents or depositaries could greatly assist in the process of refunding..

XVII

National-bank notes, amount of, issued since March 1, 1877

XII

cost of redemption of

redemption of, at the Treasury, under the present system is a great convenience to the
banks and the public, and should be continued.

Naval establishment, expenses of, for the fiscal year ended June 30, 1877.

XVIII

XVIII

III

Paper money, no system of, has yet been established in any country that in times of panic
or adverse trade has prevented the drain and exhaustion of coin reserves, however
large and well guarded

XV

every system of, must provide for suspension of specie payments

XV

Pacific railway companies, receipts from payment of interest by, during the fiscal year
ended June 30, 1877

III

Pensions, expenses on account of, during the fiscal year ended June 30, 1877

Public buildings, recommends that appropriations be made according to estimates for con-
tinuation of work on those now in course of construction

recommends that no new buildings be authorized except in cases where the demands
of the public service seem to make them an absolute necessity
calls attention to the recommendation of the Supervising Architect for the construction
of a building for the accommodation of the Bureau of Engraving and Printing ...XLVI, XLVII
Public expenditures, reduction of, can only be accomplished by a careful revision of exist-
ing laws

III

XLVII

XLVII

VII

Public credit. if no questions had arisen to disturb the, six per cent. bonds could have been
paid off rapidly with proceeds of four per cent, bonds sold at par in coin or its equiv
alent

X

the highest, can only be secured by a constant observance of every public engagement
construed according to its letter and spirit

X

is injured by failure to redeem United States notes..

Public debt, expense for interest on, during the fiscal year ended June 30, 1877.
Public lands, receipts from sales of, during the fiscal year ended June 30, 1877.

Receipts, ordinary, for the fiscal year ended June 30, 1877.

ordinary, surplus of, over ordinary expenses

for first quarter of the fiscal year ending June 30, 1878

estimated for the second, third, and fourth quarters of the fiscal year ending June 30,

Revenue, internal, receipts from, for the fiscal year ended June 30, 1877.

XIII

III

III

III

1878...

estimated, for the fiscal year ending June 30, 1879..

VI

III

Revenue, total, decrease in amount of, for the fiscal year ended June 30, 1877, as compared
with 1876

IV

surplus, amount of, for fiscal year ended June 30, 1877

IV

surplus, estimated amount of, for the fiscal year ending June 30, 1878.
from customs, greatest loss to, arises from undervaluations.

IV

XXIX, XXX

frauds on, by undervaluation, efforts to prevent, have not been entirely successful.
Revenue marine service, number of vessels employed in.

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cadet system provided for, by act of July 31, 1876, has been entered upon with promise
of great advantage

XLII

construction of a light-draught steam-cutter for service on the Gulf coast between Mo-
bile Bay and Lake Pontchartrain recommended

XLII

Savings banks, deposits held by, and number of depositors.

XIX

Silver, is of the most general use for coinage

XXI

is a part of every system of coinage, even in countries where gold is the sole standard.
best measures the common wants of life, but is not a convenient medium in the larger
exchanges of commerce

XXI

XXI

production of, is reasonably steady

XXI

variation in market value of, and gold, which no human law can prevent, has driven all
nations to adopt one or the other as the sole standard of value, or to authorize an
alternative standard of either, or to coin both at an arbitrary standard..
France and other Latin nations have suspended the coinage of

XXI

XXII

provisions of act of February 21, 1853, relative to coinage of, and ratio of value to gold.

XXII

Page.

Silver, other conditions on which, can be maintained in circulation at par with gold.. XX, XXI, XXII
great changes have occurred in the market value of, since 1873 ...
evil effects that would follow the free coinage of

XXIII

XXIII, XXIV

market value of, is fixed by the world and not by the United States alone, and is af-
fected by the whole mass in the world...

free coinage of, will impair the pledge made of the customs duties by the act of Feb.
ruary, 1862, for the payment of the interest on the public debt.

XXIV

XXIV

Silver coin, beneficial results likely to follow the issue of, in pursuance of the general pol-
icy of the act of 1853

act of January 14, 1875, provides for the substitution of, for fractional currency.
issue of, in exchange for legal tenders for a limited amount under joint resolution of
July 22, 1876.

XXIX

XIX

XIX

amount to be issued limited

XIX

fractional, repeal of the limitation upon the amount of, to be issued in exchange for
United States notes recommended.

XIX

fractional, is readily taken by the people and maintained at par with United States
notes without difficulty.

XX

estimated amount of, in circulation in 1860 at par with gold...

XX

amount of, maintained in circulation in Great Britain at par with gold..
true limit of, is the demand that may be made for its use..

XX

XX

no danger of an excess of, being issued if only issued in exchange for United States

notes..

XX

Silver dollars, have not been in circulation in the United States since 1837.
old, coinage of, recommended by the commission organized by Congress..

XI

XXI

if restored to our coinage, should be subject to the same rules as to issue and converti-
bility as other forms of money.

XXI

coinage and issue of, recommended with such legislative provisions as will maintain
them at par with gold..

XXI

whole amount of, issued prior to 1853.

XXIII

amount of, issued between 1853 and 1873.

XXIII

Silver and gold, various experiments made with a view of keeping both in circulation.
ratios of value established at different times.

XXII

XXII

an international convention of commercial nations suggested as a means of securing a
more fixed relative value of...

XXV

IV

IV

Sinking-fund, amount due the, for the fiscal year ended June 30, 1877.

deficiency on account of, for same period

amount required for, for the fiscal year ending June 30, 1878.

estimated deficit on account of, for the same period.

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Specie payments, every system of paper money must provide for a suspension of..
power to make suspension of, should not be intrusted to individuals, but should be
determined by events and conditions known to all.

VI

XXX

XXVIII

XV

XV

Special agents, transactions of division of.

recommends that number of, be increased from twenty to at least thirty..
Spirits, tax-paid, withdrawn from warehouse

XXXVIII
XXXIX

XXXI

Statistics of exports and imports...

.............XXVII, XXVIII,

XXIX, XXX

Steamboat-inspection service:

number of vessels inspected during the fiscal year ended June 30, 1877.
amount collected on account of fees for inspecting steam-vessels.
amount received from officers' licenses..

XLVI

XLVI

XLVI

amount expended, salaries of inspectors and clerks

XLVI

for traveling and miscellaneous

XLVI

recommends that the Secretary of the Treasury be authorized to convene the board of
supervising inspectors at such time and place as he shall designate..
invites attention to recommendations of the Supervising Inspector-General.

XLVI

XLVI

Sugar, embarrassments attending the collection of duties on, under Schedule G, title 33, of
the Revised Statutes

XXVI

the Dutch standard as a basis for the assessment of duty on, unsatisfactory

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many dutiable articles paying less than $10,000 each might be added to the free list in
case the duty on tea and coffee is restored.

XXVII

Tea, imposition of a duty of ten cents per pound on, recommended.

XXVII

Tobacco, manufactured," quantity of, on which tax of twenty-four cents per pound was
paid

XXXI

Tonnage, total, of American vessels as reported by the Register of the Treasury.

XXXIX

total for the last two years

XXXIX

total, of vessels built during the fiscal year ended June 30, 1877.

XXXIX

of American vessels entered into ports of the United States from foreign ports, and
cleared from ports in the United States for foreign ports, during the fiscal year ended
June 30, 1877.

of foreign vessels entered into ports of the United States from foreign ports, and cleared
from ports in the United States to foreign ports, during the fiscal year ended June 3,
1877

XLI

XLI

preponderance of foreign, over domestic.

XLI

Treasurer, the report of, sets forth in detail the monetary transactions of the government. XXXVIII
Trade-dollar, provisions of the act of 1873 relative to the coinage of.
legal-tender character of, abolished by joint resolution of July 22, 1876..

XX

XX

joint resolution of July 22, 1876, authorizes the Secretary of the Treasury to limit the
coinage to an amount sufficient to meet the export demand..

XX

export demand for, ceased in October, 1877, and coinage of, was stopped...

XX

Trade-dollar, discontinuance of, recommended in case another silver dollar is authorized..
amount of, issued..

Undervaluations, extensive, have occurred in the entry of silk goods during the past year..
frauds on the revenue by.

Vessels, American, tonnage of, as reported by the Register of the Treasury

Page.

ΧΧ

XX, XXIII

XXVII

XXVII

XXXIX

XXXIX

total tonnage of, for the last two years.

number and tonnage of, built during the fiscal year ended June 30, 1877.

number of, to which official numbers have been awarded during the same period.
number of, numbered and registered from July 1 to November 16, 1877..
discriminations in regard to enrollment of certain classes of..
modification of present system of enrollment of, suggested.

XXXIX

XXXIX

XL

XL

XL

number of entrances of, into ports of the United States from foreign ports during the
fiscal year ended June 30, 1877...

XLI

number of clearances of, from ports of the United States to foreign ports during the
same period

XLI

number of entrances and clearances in like manner of foreign vessels during the same
period
tonnage of American and foreign vessels entered and cleared.
preponderance of foreign over American tounage.

XLI

XLI
XLI

TABLES ACCOMPANYING THE REPORT.

TABLE A.-Statement of the net receipts (by warrants) during the fiscal year ended June
30, 1877

TABLE B-Statement of the net disbursements (by warrants) during the fiscal year ended
June 30, 1877

TABLE C.-Statement of the issue and redemption of loans and Treasury notes (by warrants)
for the fiscal year ended June 30, 1877

TABLE D.-Statement of the net receipts and disbursements (by warrants) for the quarter
ended September 30, 1877.

TABLE E-Statement of outstanding principal of the public debt of the United States on the
1st of January of each year from 1791 to 1843, inclusive, and on the 1st of July of each
year from 1844 to 1877, inclusive

TABLE F.-Statement of the receipts of the United States from March 4, 1789, to June 30,
1877, by calendar years to 1843, and by fiscal years (ended June 30) from that time..
TABLE G.-Statement of the expenditures of the United States from March 4, 1789, to June
30, 1877, by calender years to 1843, and by fiscal years (ended June 30) from that time
TABLE H.-Statement showing the condition of the sinking-fund from its institution in May,
1869, to and including June 30, 1877..

TABLE I-Statement showing the purchases of bonds on account of the sinking-fund dur
ing each fiscal year from its institution in May, 1869, to and including June 30, 1877..
TABLE K. Statement of loans made by the United States from 1776 to 1877, inclusive..
TABLE L.-Statement of 30-year 6 per cent. bonds (interest payable January and July)
issued to the several Pacific railway companies, under the acts of July 1, 1862 (12 Statutes,
492), and July 2, 1864 (13 Statutes, 359).

TABLE M.-Returns, by judgment of the United States Court of Claims, of proceeds of prop-
erty seized as captured or abandoned under act of March 12, 1863, paid from July 1, 1876,
to June 30, 1877

TABLE N.-Judgment of the United States Court of Claims of proceeds of property seized
as captured or abandoned under act of March 12, 1863, rendered but not paid, during the
fiscal year ended June 30, 1877

3

4,5

6

7

10, 11, 12, 13

14, 15, 16, 17

18, 19, 20

21, 22, 23

24-34

35, 36

37

37

37, 38, 39, 40, 41

TABLE O.-Receipts and disbursements of the United States assistant treasurers for the year
ended June 30 1877..

APPENDIX A.

Statement showing the condition of the bonded debt and amount of saving by interest
thereon if converted into four per cent. bonds....

APPENDIX B.

Report of the transactions of the division of special agents...

APPENDIX C.

Statement of customs-refunds made by the Treasury Department during the fiscal year end-
ing June 30, 1877.-(Report required by section 4, act March 3, 1875)

44

44, 45

46-74

Exhibits A, B, C, D, E. F. G, H, I, K. L, M, N, O, P, Q, R, S, T, U, and V, decisions of the
Treasury Department under which refunds were made.... 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87.

II.-REPORTS OF TREASURY OFFICERS.

Commissioner of Internal Revenue

Administration, changes in, made during the fiscal year 1976–'77 :
prohibiting the employment of officers in the same collection district related by blood
or marriage

providing for the quarterly examination by four revenue agents of the offices of collect-
ors and deputy collectors with a monetary responsibility, and for the quarterly
inspection by seventeen revenue agents of all internal revenue offices throughout
the country by districts

requiring gangers to report length and mean diameter of all packages of spirits gauged,
so that errors in gauging may be more easily detected

requiring reasonable notice where testimony is to be taken in cases of claims for abate-
ment, refunding, drawback, &c., so that the Commissioner may have time to arrange
for cross-examination of witnesses

Appropriations:

balance of, for last fiscal year unexpended, amount of (878,000)

for "dies, paper, and stamps," six persons employed in New York paid out of
for fiscal year 1879, estimate of

88, 89, 90

93

123

129, 130

129

129

130

127

130

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