. • YUBLIBH&D EVERY WZDICESDAY'fif"' H. G. SMITH. •.• • A. .T.:I3TEENDUN PERSI3--,,Two Dollars per annwn, payable all oases In advance. OFFIOm-Btitrrgwv3T CORNX6 oa Mums 5411.A.8.E. Xi-All letters on business should be ad reused to H. G. Burrn & Co. putvg. tiORETIIING TO WEAR. BY Wlt. ITBBABD, OF THE BUCYRUS FORUM. Mrs. Abraham Lincoln, of Vanity Fair, Has a superabundance of something to wear— A gorgeous assortment of beautiful things! Camel's hair, and point, laces, and diamond rings, And trinkets, and gauds— tlll the catalogue Cecilia Like the fabulous tale of Arabian di earns. Did the w,l' of a rail-splitter e'er before shine In silks from far India a d gems from te mine? Did ever a flat-boatman's widow posse h ss In such lavish profusion the gloes of dress? More than all, did is "rosy queen ever before Take air her ulce clothes in a pawribroaer's store? Till the Georgian costume (shirt-collar and spurs), • With hilt slight—very slight—Variation Was, ber's ! And nuagine, while piling the pawnbroker's fuelf She her friends was exposing much more than herself For of gimcracks and gewgaws, and lazes be melt What, I pray, Have tier chignon and gaiters were I,:d? " J 1 you ever?" " Oh, shoeiti-g,l" "Such aw ful disgrace!" "How lunm,dest !" "How shameless!" "How in,zen her face!" Were the wild exclamations of wonder aud hate, IShowemd now on a woman—ah! how flattered of late! Mrs. Shoulderstraps frowned—Mrs. CM'well o'ertlowed— Mrs, Hhuddy,"sick brazelessness never had allowed!" Mrs. Fyshe (of Carle Codj—Mrs iimy the (famous these For "attainments in let bus "—the y's and the e's)— And Mrs. DeSliragge, Mrs. Tubbs, Miss Je hones, And the twins, Misses Eppy afsd Dermis De Bones, (All of whom were "stuck up" in the Lincoln ref . /line Raised their dainty red hands with a parve nue scream. Every preacher found text and pretext for a In hie Sunday remarks to hle friend—the Most High! Ht,,,rialleaven's sermon made brimstone, . - Ltd Vance (Or, "10... k up," 1, employ the reporter's par- 1 holey), Mr. lit , •iteurot " e holt , a the people" again, Till they said: "The g oat mau has a call, It is Mein ," Mr. Poundtex I, implore ! the Alighy to curse MrS. OA, least, If nu wotrt., Republican etlltors, swift to defame, Voided VeDorn and spume 011 the poor WO LL's untie; lly old Weed, toy Lord Thurt,,w—that cut purge (. .port; By it tire II:it equirt! By Sleek, of the Tribune, and (uuue Lu forget), By the Vella) CM/I,l,rei« l iLLI't Viniall Gazette, d, wall intuit's were At till , . poor, widowed woman, defencele a and lone! Now, why :tit the: bother? Sure never before Did plain :tit., rke, at pawnbroker's SLOP:, Selling ma: orl-litel ctothiug, such a rumpus create, As watt been or and !tear, ill Koine circles of late We will tell rek: Tie,se dresses and laces, and r, ‘i And ginvg ,ws, and gimcracks, and trlnkels - _ :old things. Were I he paces, the Inibes, by w hien office was gaieetl, When the le, saint .1 ihmayr, sweet, Ahrahatn r tied! And 'twits reared that while laid ou the pawn . . broltcr's Bach Mi.:high , to the c;erlt stone account of And the ele - k W setae friend ludincreetly might. blurt The "'lad to a Night-gown," or "Song of tt And no r•ocrel eau wi d ely be kept in New York, Where Bennett and Bonner Ibusy Be),' are a work. 'So Weed—my Lord Thurlow—inade haste to explain These bid-looking lasts in good Abraham's reign; "Ones Wash ingthn (second,) declared with a frown, "On this dicker of her' it I shall hey to shot down!' "lie wit: :idling meanwhile with one hand at his nose, '' Ent ',toying 1110 ono, Ln oty with his " • Shit sold his spouse; ' will you shet down on ins? "' You had better silet up, you old siteesix!' said slim Si" ths martyr sloit op' and the 'dicker' went "And Ills gilts that bought Mlles now are In pawn!" Ob, 4n n 1,1.• 1,11b,r.N . ! Robbery !—IIA! hoes I Oa; tempest of scorn and derision de his( ! e-worn Is desolate note. With the nngnish of widowhood suoup,d on 1,1 . 1)11 A woman—and old—with no arm to defend! Let this Last phase of Infamous loyalty end! Bribe:4 She I oo /rho yave them—the world - - 00 111 11l know, And 11. , n. oundr,ls uutle wed het ever they go! Bribes she lii:!lt—but I'. M.'s and small hunters . Don't, hove camel's hair shawls, diamond rings (Mil point lace.! What, uthiuut unaaber (now hide in the dark) Bought. his seat by ids gifts to you, fair Mrs What, opulent. presents were lint a in advance s.!..kurs of IIIiSSIOLIS to lius..ia and France? 4311, " Republican queen'" all :the scoundrels proclaim, And force !Irmo to help bear your burden of sharer ! tiocllantouo. An Inexplicable Within 'the walls of the Bastile, dur ing the reign of Louis XIV., wasenact ed the inexplicable mystery, which has continued a mystery to this day, of the Man in the Iron Mask. When first ' heard of, he was confined in the Mar guerite Islands, iu the Mediterranean, whence he was removed by De Saint Mars, who was his private governor, and answerable, it is believed, for his safety with his Own life, to the Bastile, where he died on November• 19th, 1703, and was buried on the '2OOl, in the cepa • etery of St. Paul, under the name of Maehiati. No man, except the gover nor, so far as is known, ever saw his face or heard his voice; two persons, to whom he had conveyed written words, in one ease marked upon a linen shirt, In the other engraved on a silver plate, died without apparent cause, immediately afterward. During his conveyance from the Marguerite Isles, De Saint Mars dined at tlfe same table and slept in the same chamber with him, with pistols ever at hand ready to destroy him iu case of au at tempt on his part to reveal himself. In the Bastile he was waited on, at table and toilet, by the governor, who took charge of and destroyed all the linenlhe once used. He was never seen but with st mask of black velvet, fastened be hind his head with steel springs, and when lie went to hear mass, the In valide,, who were in charge of him, with muskets and lighted matches, were instructed to lire on film instantly in ease of his speaking or showing his face. A hundred conjectures have been risk ed as to who this mysterious person was who was treated with such respect, yet with such jealous rigor•—whose life was held sacred against taking off, yet made one scene of incessant mystery. The absence of any person of sufficient note from the stage of history to account for such precautions alone baffles all in quiry. The general impression seems to be tlcr_ he was an elder brother of Louis XIV., the fruit of au adulterous intrigue between Anne of Austria and the Duke of Buckingham, or some other unknown lover, who, being born in wedlock, could not have been dis possessed of his claim to the throne had his existence been admitted. American Patrons of Art We are told by a gentleman who has recently returned from a visit to the Paris studios, that some of the Ameri cans who went abroad last summer have left a marked impression In the art world. It is said that Americans have bought more pictures and paid higher prices than the people of any other na tion who have flocked to Paris within the past year. I u some of these cases the purchases are made by men of criti cal ability, but in others they are made from mere motives of ostentation, or to get up one's reputation for wealth. Mr. Mathews, of this city, gave nine thousand gold dollars for a bit of panel which Gerome has touched with his brush. Seven thousand were paid for a Meissonnier, and so on up to fifty or sixty thousand dollars for other works. Mr. Probasco, of Cincinnati, left in the bands of Rousseau, Cabonal and others fifty thousand dollars, more or less. A. Boston gentleman was even more lavish than his Western countrymen; while a Philadelphian - is said to have rivaled Russian princes in the purchase of pic tures of the masters. These are single examples out of many. Costly and beautiful works of art have been purchased to decorate American homes, and, it is to be hoped to Cultivate a better taste in our own land, and stimulate native . artists to greater effort.—New York Post. ttr ;j1 .1,,t3 .• •-• ‘.. 117.1,1" ' Ir:• . r * - • • "• ' • . . , • • ;r l , ; ,;911. 91 ; • • • ; • • - r I: .; • - ' , . " 7 ' • • .. • it •- 1,11/1/1///////: .•, VOLUME 68 THE NATIONAL FINANCF43. bstraet of the Annual Rep sury.ort of the See rotary of the Trea TREASURY DEPARTMENT, 1 WASHINGTON, Nov. 30, 107. In conformity with law, the Secretary of the Treasury has the honor to submit to Congress this, his regular annual report. The finances of the United States, notwith standing the continued depreciation of the currency, are in a much more satisfactory condition than they were when the Secre tarytad the honor to make to Congress his last annual report. Since the Ist, day df Nov. 1866} $493,999,263 of interest bearing notes, certificates of indebtedness and of tempo rary loans, have been paid or converted into bonds, and the public debt, deer ucting therefrom cash it the Treasury, which is to be applied to its payment, has been reduced $59,805,555. During the same period a de cided improvement has also been witnessed in the general economical cordition of the country. The policy of contracting the cur rency, although not enforced to that extent authorized by law, has prevented an • ex pansion of credits to which a redundant and especially a depreciated currency is always an incentive, and has had no little influence in stimulating labor and increas ing production. Industry has been steadily returning to the healthy channels from which it was diverted during the w ar, and although incomes have been small and trade generally inactive, in, no other com mercial country has there been less financial emba, rassment than in the United States. Since the Ist day of September, 1865, the temporary loans, certificates of indebted ness and five per cent notes have all been paid, with the exception of small amounts. The compound interest have been reduced from $217,024,169 to $71,878,040, $11,560,000 having been taken up with three per cent certificates; seven and three-tenth notes from $830,000,000 to $337,978,800; United States notes, including fractional currency, from $159, 504,311 to $537,871,477; while the cash in the treasury has been increased from $88,218,055 to $133,998,398; and the funded debt has been increased $686,504,800. While this has been accomplished there has been no commercial crises, and outside of the Southern States, which are still greatly suf fering from the effects of the war, there has been no considerable financial embarrass- went. In his last report the Secretary remarked that, after a careful survey of the whole field, he was of opinion that specie pay ments might be resumed, and ought to be resutned, as early as first day of July, 1868. While he indulged the hdpe that such would be the character of future legislation, and such the condition of our productive in - dustry, that this most desirable event might be brought about at a still earlier day. These anticipations of the Secretary may not be fully realized. The grain crops of 1866 were barely sufficient for home con. sutnption. The expenses of the War De partment, by reason of Indian hostilities and the establishment of military govern ments in the Southern States, having great ly exceeded the estimates. The govern ment hits been defrauded of a large part of its revenge upon distilled liquors, and the condition of the South has been disturb ed and unsatisfactory. These facts aud ap prehensions, created in Europe and to some extent at home by the utterances ot' some of our public men upon the subject of finance and taxation that public faith might not be maintained, may postpone the time when specie payments shall be resumed ; but, notwithstanding those unexpected embarrassments, much pre liminary work has been done, and there is not, in the opinion of the Secretary, any insuperable difficulty in the way of an early and a permanent restoration of specie standard. It may not be safe to fix the ex act time, but with favorable crops next year, and with no legislation unfavorable to contraction at this session, it ought not to be delayed beyond the Ist of January, or at farthermost the Ist of July, 1809. Nothing will be gained, however, by a forced resumption. When the country is in a condition to maintain specie payments they will be restored as a necessary conse quence. To such a condition of national prosperity I will insure a permanent restor ation of the specie standard the following measures are, in the opinion of the Secre tary, important if not indispensable: First—The funding or paying of the balance of the interest bearing notes and the continued contraction of the paper cur rency. iSecoiu/—The maintenance of the public faith in regard to the funded debt. Third—Restoration of the Southern States to their proper relations to the federal gov ernment. In the present condition of the country, and in view of the relations that the national banks sustain to the government, ignoring in this connection the question of good faith, the Secretary has no difficulty in coining to the conclusion that they should be sustain ed. They are so interwoven with all branches of business, and are so directly connected with the creditof the government that theycould not be destroyed without pre cipitating upon the country financial trou bles which it is now in no condition to meet. At spine more propitious period, when the Union shall have been fully restored, and all the States shall have attained that sub stantial prosperity which their great re sources and the energy of their people must sooner or later secure for them, it may per haps be wise for Congress to consider whether the national banking system may not be dispensed with. The present is not a favorable time to considet this question, The condition of our political and financial affairs is too critical to justify any action that would compel the national banks, or any considerable number of them, to call in their loans, and put their bonds upon the market for the purpose of providing means of retiring their circulation. Con servative legislation is now indispensable. The public mind is too sensitive, business is too unsteady and the political future too uncertain to warrant tiny financial experiments. Fortunately none are re-. quired. The national banking system hits furnished a circulation, depreciated, it is true, like United States notes, but solvent beyond question and current throughout the Union. It has aided in regulating do mestic exchanges, and furnished govern ment with valuable financial agents. lied it not been adopted the State banks would have continued as long as they were toler ated to furnish the country with bank notes. In most of the States banks were not re quired to deposit stocks for security of their notes, and in those States where security was required there was no limit to the amount of bonds that might be deposited, and consequently no limit to amount of notes that might be put in circulation. In other2States there was no security beyond the capital of banks, and frequently the unreal and partial liability of stockholders. Generally deceptive, who can estimate the extent of injury which the people and gov ernment would have sustained if State in stitutions, without any other restrictions than were enforced by State laws, had been permitted during the war to occupy the field. All having suspended specie pay ments, and thereby been relieved from the necessity of furnishing evidence of sol vency, . banks unwisely or dishonestly nianago would have stood on a level with those which were managed wisely and hon estly, while the latter would have found it difficult to keep their issues within reason able limits, stimulated, as they would have, been, to issue freely by thenecessi ties of the goveinment and the increasing 'demand for money, which.is always the result of an in creased suppby. The former would have poured out tOo irredeemable promises until distrust created pain,: and panic disaster. That the national system, with its limited and secured circulation and its restricted provisions, by 'suspending the State sys tems, has prevented i. financial crisis, there can be but little doubt. For this it is en titled to credit, and for this and for other reasons suggested it should be sustained until a better system shall be devised or the country is in a condition to dispense with bank issues altogether. Arguments in favor of compelling the banks to retiro their notes and yield the field to the notes of the government are based upon:the supposition that if three hun dred millions United States notes were substituted for three hundred millions of national bank notes now in circulation the government would save some eighteen mil lions dollars interest which is now a gratuity to the banks. That there would be no such saving, nor any saving, by the proposed substitution, is clearly shown by the Comp troller of the Currency in his accompanying report, to which the attention of Congress is especially asked. If an account were open ed with the banks, and they were charged with interest on three hundred millions of dollars,. and the losses sustained through those that have failed and credited with in terest on the United States notes held by them as a permanent reserve, with taxes paid:by them to the government and States, and with a commission covering only what 'has been saved in transferring and disbur sing the public money, it would be ascer tained that the banks were not debtors to the United States. It is not necessary, however, for the Sec retary to dwell on this point, as his main objection to the substitution would not be removed if, a saving of interest would be effected by it. Regarding, as he does, the issue of United States notesin the first in stance as having been a misfortune, and their continuance as a circulating medium, 'unless the'yolume shall be steadily reduced as fraught With mischief, the Secretary can conceive no circumstances that would uisti- . _ ly. a further issue. These depreciated, but legal tender-notes,,notwithstanding the re duction that has taken place, still stand in the way-of a return to specie payments. A substitution of them for bank notes would be regarded by him and by the country as a declaration that resumption had been in definitely postponed. If those now out standing shall be retired at the rate of four millions per month, the amount in actual circulation will soon be reduced, so that they may not seriously retard the restora tion to a true measure value. If, on the contrary, under any pretense, or for any purpose whatever, their value should be increased, especially if they should be made the sold paper circulation of the country, a false measure of value will be continued, speculation will be stimulated, industry will dtcline, and great risk be incurred.— That financial health will be only obtained by a revulsion, the effect of which upon the material interests and credit of the country no one can estimate. Such a revulsion the Secretary is most anxious to prevent, and he therefore cannot approve of the propo sition for substituting notes of the United States for National bank, but recommends that the policy of contraction be continued. Apprehension that this policy will em barrass healthy trade is, in his judgment, unfounded. Legitimate business has not suffered by the curtailment which has taken place within the last two years, nor will it permanently suffer by such a contraction, prudently enforced, as may be necessary to bring the precious metals again into circulation. What business re quires is a stable currency; what enter prise demands is the assurance that it shall not be balked of its just rewards by an unreliable measure of value. It is frequently urged by those who ad mit that the currency is redundant that the country is not now in condition to bear fur ther contraction; that its growth will soon render contraction unnecessary; that busi ness, if felt to itself, will rapidly increase to such an extent as to require three hun dred and eighty millions of United States notes and fractional currency, and three dred millions of bank notes now outstand ing, for its proper and needful accommo dation. Nothing can be more fallacious than this unfortunately popular idea. An irredeemable currency is a financial dis ease which retards growth instead of en couraging it; which stimulates speculation but dimishes labor. A healthy growth is to be secured by a removal of disease, and not by postponing the proper treatment of it in the expectation that the vigorous con stitution of the patient will eventually overcome it. The next subject to be considered, in con nection with the permanent resumption of specie payments, is the maintenance of pub lic faith, which involves toe necessity of wise and stable revenue laws, impartially and rigorously enforced. Economy in the public expenditures, and a reeognition of the obligation of government to pay its bonds in a'tcords ice with the understanding under which they were issued. The remarks of the Secretary in this report upon the subject of public revenues must necessarily be brief and general. Fortunately, the ac companying report of the Commissioner of the Revenue is so full and exhaustive as to render any elaborate discussion of this great subject on his part unnecessary. Tax ation, the power to tax, is one of the most important powers exercised by a govern ment- To tax wisely, so as to raise large revenues without oppressing industry is one of the most difficult duties ever devolved upon the law-making power. Taxation can never be otherwise than burdensome and it becomes especially so when subject I frequent changes. It is, therefore, of gr importance that the Revenue laws shout, be stable. By this it is not meant that tney should be unchangeable, but that while from time to time they may be modified to meet the changing condition of the country, the principles upon which they are based should be so wise and just est° give to them permanency of character. Perhaps as much mischief has resulted from the frequent cuanges in the tariff laws of the 'United States as from their detects. From the time When the first tariff was framed, in 1789, up to the last session of Congress, the tariff has been a fruitful subject of discussion, and at no period has the policy of government in re gard to customs duties been considered as definitely settled. There has been a con stant struggle between the advocates and opponents of protection and free trade, as cendency generally being with the protec tionists. The tariffs of 1816, 1824, 1828, 1842 and 1861, were all of a highly protective character. Those of 1833 and 1846 reduced duties largely and looked in the direction of free trade. So evenly, however, have par ties been divided that although protective laws have generally been in force, at no pe riod from 1789 to the present day have im porters and manufacturers had any reason able assurances that the existing tariff laws might not be suddenly and materially alter ed. That the effect of these changes, actual and apprehended, has been highly injurious to the country, cannot be questioned. That it has not been disastrous indicates the readiness of the people of the United States to adapt their business to policy of the government, whatever it may be. Frequent changes of the tariff laws are attributable to the tact that in none of them has revenue been the principal object. There has never been iu the Uuited States a strictly revenue tariff, and consequently there has been no stability in the tariff laws. Up to 1861 the revenue from customs under any scale of duties adapted were sufficient to defray the expenses of the government, and therefore the question now so interesting was hardly a prominent one. In the present nnanciai condition of the country large revenues are indispensable, and in adjusting the present tariff the ques tion of revenue must necessarily be a ques tion of paramout importance. When the government was substantially free from debt, and the public expenditures were small, as was the case before the rebellion, a revenue tariff, properly adjusted to the. public necessities, would have been a low tariff; but now, when a heavy debt and liberal expenditures create a necessity for large revenues, a considerable portion of which must for some years to come be de rived from customs, it is difficult to perceive how, without excessive importations, a strictly . revenue tariff can fail to be a high one. It may thus turn out that the necessi ties of government may give incidentally to American manufacturers the production they are supposed to require without special legislation, always odious and generally unreliable, in their behalf. Inasmuch as large and permanent reve nues cannot be realized unless the laws are so framed as not to bear heavily upon in dustrial pursuits, a tariff which, harmon izing with the internal taxes, should year by year yield the largest revenues, would undoubtedly prove to be the least preju dicial to the national growth and prosper ity. A high tariff, by reducing importa tions, or by oppressing important branches of trade and industry which are subject to internal duties, might prove to be as un favorable to revenue as a low one, and equally unsuited to the public necessities. The prcsont tariff, although a high one, has not proved to be protective, while for the past two years it has been highly produc tive of revenue; but its failure to protect those interests for whose benefit it was in a great measure framed, and the large reve nues which have been derived from it, do not prove it to be iu any just sense a reve nue tariff. It has failed to give to Ameri can manufactures the protection it was in tended to afford, and it has yielded much larger revenues than were anticipated, be cause the high prices prevailing in United States have stimulated importations. It does not follow because it is producing a large revenue now that it will continue to do so when business and the currency shall be restored to a healthy condition. The time will soon come when the United States will cease to be the most favorable country to sell in, and when it must pay for what it purchases, not in its bonds, but in its own productions. In order that the present tariff should be a revenue tariff, important modifications will be necessary, which cannot be intern itently made until business ceases to be subject to derangement by an irredeemable currency. The Secretary does not, there fore, recommend a complete revision of the tariff at the present session; but there are some features of it, and some matters con nected with it, which require early dtten ion. The experience of the department dis closes many disadvantages attendant upon the collection of duties on imports when the rates are high and estimated on an ad valo rent basis. For the collection of such duties machinery more or less complicated is necessary for verification abroad of invoices of importations, and for examination and appraisement of merchandize on its arrival in this country. In every instance a com parison is required between the invoice estimate and the general value in the prin cipal markets of the country to whence a commodity is exported. The difficulty of ascertaining the foreign market value, especially in cases where a commodity is manufactured expressly for exportation, affording tempting opportunities for suc cessful under valuation and high rates of duty, offer inducements for evasion more than commensurate with the risk of de tection. Since the passage of the Tariff act of March 2, 1861, the rates of duty, which were exclusively ad valorem, have on many articles been specific. The system of specific duties appears to have givelimucli satisfaction to honorable dealers and to officers of customs ffir the ease with which the character and quantity of mer, Chandise;imported canibe determined, for the LANCASTER .. PA. WEDNESDAY un iformiV'. with ,which duties may be asses tied at different sorts, and particularly as it precludes Abe possibility' of fraudulent un dervaluatitins. Without recommending an exclusive adoption of specific duties, the Secretary would suggest for the considera tion of Congress whether the system might not with propriety be extended to the commodities on which the duty bears a large proportion to value, or of which for eign market price is subject to great fluctua tions, or is from other causes with difficulty ascertained . , Public faith does not depend alone upon adequate-revenue laws, nor upon economy in the administration of the Government ; it rest; also upon the observance of con tracts in spirit as well as in letter. In fact, without this there will be neither an effi- cienC administration of the revenue laws nor economy in expenditures. Nothing but absolute insolvency will save from the infamy of repudiation a nation that does not pay its debts according to the under standing at the time they were contracted • and when a nation voluntarily violates this understanding it will soon be unable, from the very effect of its own example, to en force its revenue laws, and its expenditures will only be checked by its inability to col lect. How much of the demoralization . . which exists in the revenue service of the United States is attributable to the failure of the government to redeem legal tender notes according to their tenor, would be an interesting subject of inquiry, but hardly appropriate in a communication like this. Now, to what is the United States pledged in regard to the public debt? Is it not that it shall be paid according to the under st .nding between the government and the subscribers to its loans at the time subscriptions were solicited and obtained? And can there be any question in regard to the nature of this understanding? Was it not that while interest bearing notes should be converted into bonds or paid in lawful money the bonds should be paid, principal as well as interest, in coin? Was not this the understanding of the Congress which passed the Loan bills, and of thej people who furnished money? Did any member of the House or Senate prior to 1864, in the exhaustive discussions of these bills, ever intimate that the bonds to be issued in ac- cordance with their provisions might be paid when redeemable in a depreciated cur rency? Was there a single subscriber to the five-twenty bonds or to the seven and three-tenths notes, which by their terms were con vertable into bonds, who did not believe, and who was not given to under stand by agents of the government, that both the principal and interest of these bonds were payable in coin? Does any one suppose that the people of the United States self sacrificing as they were in support of the government, would have sold their stocks, their lands, the products of their farms, of their facto ries and their shops, and invested their proceeds in five-twenty bonds and seven and three-tenth notes, convertible into such bonds if they had understood that these bonds were to be redeemed, after five years from their respective dates, in a currency of the value of which they could form no reliable estimate? Would the Secretary of the Treasury or would Congress, when the fate of the nation was trembling in the bal ance, and when a failure to raise money for the support of the federal army would have been a success to the rebellion and ruin to the Union cause, have dared to attempt the experiment of raising money on bonds re deemable at the pleasure of the government after five years in a currency convertible, but the value of which might not depend upon the solvency of government, but upon the amount in circulation? No such understanding existed, and for tunately no such experiment was tried. The bonds were negotiated with the definite understanding that they were payable in coin, and the seven and three-tenths notes with an equally definite understanding that they were convertible, at the option of the holder, into bonds of a similar character, or payable in lawful money. Contracts were made in good faith on both sides—a part of them when the government was in immi nent peril and needed money to preserve its existence—the balance when its necessi ties were scarcely less urgent for payment of its just obligations to contractors and to the gallant men by whom the nation had been saved. Good faith and public honor, which to a nation are of 'priVess worth, require that these contracts should be com plied with in the spirit in which they were made. Holders of our bonds at bomb and abroad, who understand the character of the people of the United States and the greatness of the national resources, ought not to need an as surance that they will be so complied with. The importance of the restoration of the Southern States :to their proper relations with the federal government cannot be overestimated. A curtailment of the cur rency and the maintenance of the public faith are not all that is required to restore the country to perfect financial health.— We need, in 'addition to these, a united country—united iu fact as well as in name. It may not be proper for the Secretary in this report to discuss the measures regard ed by him as best calculated to bring about this most desirable result. This, however, he feels it his duty to say, as lie substan tially said in his last year's report, that the question of reconstruction, as a purely ti- I nancial question is, in his judgment, second in importance to none that Congress will ever be called upon to consider. There is a general sentiment among tax payers that the exemption of government bonds from local taxation is not exactly right, and that it ought to be in some way avoided in future issues. The Secretary has no hesitation in admitting that he is in sympathy with the sentiment. The , eulty in way, however, as has been sug gested, arises from the fact that if the bonds hereafter to be issued were to be subject to local taxation, very few would be held where taxes are high, and there would be a constant tendency to a concentration of the States and counties and cities where taxes are low, or in foreign countries, where they would escape taxation altogether. It is a matter of great importance that govern ment bonds should be a desirable invest ment In all parts of the country, and it is obvious that the States should be in some manner compensated for the right now denied of taxing , them as other kinds of property are taxed. After giving the sub ject careful consideration, the Secretary can suggest no better way ofdoing it than bran issue of bonds, to be known as the consolida ted debt of the United States, bearing six per cent. interest, and having twenty years to run, into which all other obligations of the government shall as rapidly as pos sible be converted, one sixth part of the interest at. each semi-annual payment to be reserved by the government and paid over to the States, according to their proportion. By this means all bonds, wherever held, would be taxed alike, and a general distri bution or them be secured. State taxes, in cluding levies for county and municipal purposes, now, as a general thing, exceed one per cent., but when debts incurred for payment of bounties are paid, and in most of the States they are already in process of rapid extinction, and economy is again practiced in the administration of State affairs, this indirect assessment will be quite likely to equal the tax assessed upon other property. If the debt to be funded shall amount to $2,000,000,000, the amount to be reserved and paid to the ,tates annu-: ally would be 820,000,000. The Secretary estimates that the receipts and expenditures for the three quarters end ing June 30, 1868, will be $206,e00,000. The expenditures fur the same period according to his estimates, will be $'x05,000,000; leav ing a surplus of estimated receipts over estimated expenditures of $1,000,000. The receipts and expenditures for the next fiscal year, ending June 30,1868, are estimated at $381,000,000. The expenditures for the same period are estimated at $372,000,000; leaving a surplus of estimated Receipts over esti mated Expenditures of $9:000,000. Since the first day of September, 1865, the debt has been reduced. $2i56,185,121. Now if such a reduction could be made while the industiy of one-third part of the country by reason of war and the unsettled state of its political affairs has been exce+dingly depressed, and other thirds have by no means exerted their full pro ductiveness sooner—if such a reduction could be made notwithstanding the liberal miscellaneous appropriations by Congress, payment of bounties and the great expense of maintaining large military forces upon the frontier and in the Southern StateS, can there be any good reason why a reduction so successfully commenced under the most inauspicious circumstances, should not be continued, steadily and without interrup tion, until every dollar of it is extinguished. The War Department The following is a synopsis of Genera Grant's Report as Secretary of War ad in terini : A long war had entailed upon the army practices of extravagance totally unjustifia ble in times of peace; and as the increase of the regular army since 1860 (now almost' the.entire army) is officered by men whose army experience does not go back to that period (and therefore they may - not know' but their indulgences at the expense of the General Government are all legitimate), retrenchment was the first subject , to at tract my attention. During the rebellion ambulances andmounted orderlies at every headquarters bad come into use, and since the rebellion they have been continued, if not at every post of a single company, at least generally throughout the army. A discontinuance of this evil was necessary both to the discipline and efficiency of the ORM:NG DECEMBER 11 1867 army and the reliefof the Treastdy. Orders were therefore given both for breaking it uplind'lteeing tO its execution. The Bureau of Rebel Archiveswas trans ferred to the Adjutant General's Depart ment, as was also the Bureau for the Ex change of Prisoners, &0., thus relieving from Government employment a large number of clerks, and several officers who had, to that date, been continued in service. Supplying large armies for a period of four years of hostilities necessarily led to an accumulation of stores of all sorts far be yond' the wants of our present establish ment for many years to come. Many of these articles were of a perishable nature; besides, swing borne on the returns of offi cers accountable for them, they had to be stored and guarded, although the cost of care per annum might be greater than their value. Under my direction all these sur plus and useless stores in the. Quartermas ter's Department are being sold, and the balance clistribated for issue to troops as they may be wanted, This releases a large number of storehouses for which rent is be ing paid, and also discharges a large num ber of civil employees of Government. During the last summer and summer be fore I caused inspections to be made of the various routes of travel and supply through the territory between the Missouri River and the Pacific coast. The cost ofmaintain ing troops in that section was so enormous that I desired, ifpossible, to reduce it. This I have been enabled to do, to some extent, from the information obtained by these in spections; but for the present the military establishment between the lines designated must be maintained at a great cost per mail. The completion of the railroads to the Pacific will materially reduce this cost, as well as the number of men to be kept there. The com pletion of these roads will also go far tow Lrd a permanent settlement of our Indian diffi culties. There is good reason to hope that negotiations now going on with the,hostile tribes of Indians will result, if not in a per manent peace, at least in a suspension of hostilities until the railroads are pushed through , that portion of the Indian terri tory where they are giving the most trouble. The General goes on to say : The report of the army shows the organi zation and present strength of the army, the force stationed in each military depart ment and district, the number of recruits enlisted, and desertions from October Ist, 1866, to September 20, 1867, and the organi zation of the colored troops. On the 80th of September, 1862, the aggre gate strength of the army (officers and men) was 56,815; the number of recruits 34,101, and desertions 13,608. The recruiting service has been very suc cessful, and men have been supplied as fast as needed. At the date of the last report 11,043 vol unteers still remained in service. That num ber has been reduced, and now only 203 commissioned officers remain, and no en listed men. These officers are kept by special acts authorizing retention of volun teers in Freedmen's Bureau. The mustering and disbursing officers have all been discontinued, except at Al bany, N. Y. ; Philadelphia, Penne ; Colum bus, Ohio; Louisville, Ky. Louis, ,Mo. ; Santa Fe, New Mexico ; and Sat Francisco, California. No appropriation is required for the volunteer disbursing branch for the next year. Attention is called to the great number of desertions, and the necessity for a change in the present system of courts martial and of punishment to abate the evil. The quartermaster General submits full financial statement and analysis of accounts for fiscal year ending June 30, 1867, showing that during the past year 11,130 accounts have been examined, amounting to $309,- 838,171 89, arid of accounts remaining to be examined, 1544, amounting to W,151,- 262 74. The Paymaster General reports that at the date of the last annual report there were 25 paywa.sters of the old establishment, and 58 additional paymasters, tnaking a total of 83. There have since been 35 appointed in the permanent establishment, the comple ment authorized by the "Act to increase and fix the military peace establishment," approved July 28, 1866, making of regular paymasters created and now in service 60; reduction of additional paymasters during the fiscal year, 37; leaving still in service 21. Total of both classes now in service 81. The explanation given in the last annual report of the necessity of continuing iwsen vice some of the additional paymasters, still exists in all its force, though it is expected that a further reduction may be practicable before the end of the current year. Under the joint resolutions of Congress, the one approved March 30, 1867, and the other July 19, 1867, $1,500,000 was appro priated for expenditure in the rive military districts of the South. Of this amount there has been drawn trom the Treasury $1,454,- 728 93, leaving a blilance in the Treasury of $45,271 07, which balance is to the credit of the Second Military District. The corps of eadltts in the Military Aca demy at the examination, in June last numbered two hundred and fifty-five. Of these sixty-three graduated, and were com missioned in the army. The report of the Board of Visitors exhi bits fully the excellent condition of the in stitution, and bears ample testimony of its usefulness. They renew the recommenda tion made by the Board of the previous year to increase the number of cadets, giving substantially, but perhaps more elaborately the same arguments for the increase. The total estimate of military appropria tions for the fiscal year ending June 30, 1869. $77,124,707 08. The estimates for the approaching fiscal year are taken from the estimates of the different bureau chiefs, without change of the items. They are based upon the ex penditures of the current year, and will probably exceed the amount which will be required. A season of peace with the In dians ou the Plains will of itself materially diminish the expenditures of the army, and justify a reduction iu the number of enlisted men in a company. There were 23,08:3 Springfield rifle mus kets converted intu breech-loaders during the past fiscal year at the national armory, and about 100,000 muskets, carbines and sabres were cleaned and repaired there. All of the converted arms have been issued to troops, and nearly all the infantry serving in the Departments of the Missouri and the Platte have been armed with them. Month ly reports, received from the commanders of the companies so armed, have been high ly favorable to the arm and furnish abun dant evidence of its excellence and fitness for the military service. It is confidently believed that no converted breechloader, in this country or in Europe, has been pro duced which is superior to the converted Springfield musket, as altered at the armo ry, and that none equal to it in serviceable qualities can be produced at less cost. In view of the fact that the 50,000 converted muskets will very soon be issued to troops, leaving no breech-loading muskets on hand in store, it is recommended that the con version of the Springfield musket be re sumed. Report of the Secretary of the Interior, The most important topics discussed by the Secretary of the Interior are the Indian question, the progress and prospects of the Pacific Railroads, and the condition of the Territories and Public Lands. Of the three hundred thousand Indians spread over the country from Lake Supe rior to the Pacific Ocean ' the wild tribes who have caused the late difficulties form a decided minority. The policy of localizing these tribes apart from civilization is re commended by Mr. Browning as warmly as it has been by the Commission ers. As the selection of suitable sites, And the removal of the Indians to them, cannot be accomplished in the short time allowed to the General Com mission, it is recommended that two special commissions of three persons each be ap pointed for the efficient completion of the work. Tacitly admitting the justice of charges of corruption made against Super intendents of Indian Affairs and Indian agents, the Secretary appeals for increased compensation, in order that the services of men of undoubted capacity and integrity may be obtained to fill the places of those officials. He is also of the opinion that a number of responsible agents should be em ployed to investigate and correct frauds and abuses ; and that the present system, strengthened by such and other safeguards, is still the best that can be devised for the Indian service. Congress it very sensibly urged to provide more adequate means for carrying out the measures that have been resolved upon in connection with the savage tribes ; and any possible cost of preserving peace with them is considered trifling com pared with the cost of an otherwise neces sary war. The delays and disasters suffered by the Pacific Railroads furnish another argument to favor of buying off the Indians until the government—when those rotates are completed—shall be in a position to dictate its own terms. The perseverance of the Union Pacific Railroad Company, in the face of many obstacles, has carried the line to a point nearly five hundred and twenty miles west of Omaha, beyond Cheyenne, to the western base of the Rocky Mountains. The Cen tral Pacific Railroad of California had reach ed, on October 7, a point within eleven miles of the summit of the Sierra Nevada Mountains, on eh findred and five miles from Sacramento, at an elevation of 7,042 feet above the sea. These two thoroughfares, destined to meet each other at some undecided point in the midst of the far western wastes, have already rednc ,ed the time' consumed in the over land journey to California one week. The mails from China -and Japan . now .arrive here in fifteen days from San Francisco. Before, it took freed twenty-one to twenty four days to bring-them by setz. - and afti3r a longer period to bring them on. the over-' land stages. Both the new roads,more than pay their present operating expenses. On the lst of July, the -receipts of:the Union Pacific, Road, then in operation to Jules burg, 377 miles, amounted. to $1,015,195.29, and its expenses to $658,880.54 ; leaving the net earnings $356,314.75. The net earnings of the Central Pacific Road during 1865, 1866 and 1867, to September, were $1,550,- 696., and during 1867 alone, to that date, $606,852.40. The remaining , eastern branches of the Pacific Railway ex hibit more or less satisfactory re turns. A glance at those parts of Secretary Browning's report dedicated to this subject will be apt to muse a thrill of patriotic pride in the veins of any Atherican interested in the internal development of his country. Civilization has been so enhanced in the Territories through which railroads are being thrust, an in Territories where rail way branches are' rojected, that the domain of the United St tes government beyond the Rocky :Nouna is invested with ex traordinary interest. During the last fiscal year, 7,041,114.50 acres of the public lands were disposed of, a quantity exceeding that transmitted during the previous year by 2,411,800 acres. Contracts have been en+ tered-into for more perfectly surveying and making the boundaries of different States and Territories near the Pacific coast. New discoveries of mineral wealth, and an aug mented population, suggest legislative measures for the benefit of the nation, cap italists, settlers, and emigrants that are more fully discussed in the report of the Commissioner of the General Land Office. Abstract of the Report of the Commis. stoner of Internal Revenue The Hon. E. A. Rollins, Commissioner of Internal Revenue, in his report to the Secre tary of the Treasury, states that the revenue laws as amended by act of March, 1865, were in operation without substantial change during the entire fiscal year 1866. The statute of July 13, 1866, was intended to reduce the revenue about $65,000,000 per annum, and from the not of March last the further annual reduction of $40,000,000 was expected. The receipts of the last fiscal year were less than those of the preceding year, while they were larger than was an ticipated. The aggregate receipts of Internal revenue, exclusive of the direct tax upon lands, and the duty upon the circulation and deposits of National banks, were fur the year These amounts include goods exported, and sums roneously assessed and coil The following are the recei special sources for the t years: 1865. 3,087.210 1 V. 13,6 6 -- 2.043,841 :63,368 4,470,817 017,684 5,917,°93 795,6.8 061.503 215,051 204,478 .11,16-012 Bank Dividends " Circulation Deposits " Capital Railroad Dividends •. tat. on bonds' Gross Rents Insurance Co. Div•ds " Premiums Telegraph Compuniea Express Corn ponies Sales of Stamps Legacies Income Tax 11 le Licenses Cigars Tobacco Ale Beer, &c. Whls- y Brnu•ly Of the cotton tax, the Commissioner says the receipts of 1867 substantially represent the product of that year as nearly 2,000,000 bales, With reference to coal oil, &c., he says: In 1864, 22,015,732 gallons of refined petroleum were brought to charge, and 671,- 945 gallons of refined coal oil ; in 1865, 14,- 756,069 gallons of refined petroleum, and 63,992 gallons of refined coal oil ; in 1866, 25,890,694 gallons of petroleum, and 928,- 330 gallons of coal oil; in 1867, 24,903,535 gallons of petroleum, and 766,925 gallons of coal oil. He adds that the high rate tax offers strong temptations both to refiners and officers, and thinks that payment of the revenue has frequently been avoided.— He reports similar heavy losses by fraud in the tobacco tax ; but says the increase of the receipts has been quite satisfactory.— The whisky frauds, he adds, are of a very alarming extent and character. The expenses of collecting the revenue were--in 1.866, $7,689,700; and in 1867, $7,- 712,059. For 1867 there was 2.90 per cent. of the gross receipts, and 2.92 per cent. of the net receipts. This is considerably less than the rates of expense in Great Britain. The Commissioner makes an elaborate estimate of the receipts for the present and next fiscal year. Several taxes hay- Mg been reduced on many articles, and in some cases production hap been lessen ed, he therefore thinks, Mm a careful study of the . tables above, and a proper allowance tor increased production, as in dicated for several years past, and a full confidence that the receipts from distilled spirits will be largely increased, that the receipts for the present fiscal year will reach the sum of $225,000,000, and for the fiscal year ending June 30, 1869, the sum of $240,000,000. The Commissioner complains of the un stable tenure of office among the subor dinates in his departments ; they are con stantly changing, and these changes inter fere with the proper collection of the revenue: He publishes a table, in which he shows that in 114 districts 369 different persons served as collectors, and in 116 districts 370 persons discharged the duties of assessor. The many changes in several of the districts arose from the rejection by the Senate of the nominees of the Presi de Lt. About 3100 assistant assessors were em ployed during the year, and 10 revenue agents. Among the latter 7 changes occur red. The number of revenue inspectors was increased from 135 in 1866 to 219 in 1867. Besides these there are 506 tobacco inspec tors, 546 whisky inspectors and 88 coal oil inspectors.' The number of persons em ployed directly and indirectly in the collec tion of internal revenue is very large; but, he says, when the amount of receipts is considered, with their myriad sources, and the variety and extent of labor necessary for their assessment and collection, inclu ding returns, notices, records, correspon dZnce, and all manner of details, I believe their number will not be found equal to that which would be required in the collection of a like revenue under the laws of -the several States, as it certainly is not large in comparison with the civil list for like ser vice abroad. The changes of officers as enumerated above have been many, and to these changes it is reasonable to ascribe large losses of revenue. With regard to the frauds upon the rev enue, he says that the evil is inherent in the manner of appointments, and lies deep er than any present supremacy of any po litical party. Ho does not recommend any remedy for frauds on the American revenue, but thinks that a new system is absolutely indispensa ble. He devotes a great deal of space to the whisky frauds, and considers the various remedies proposed for them ; he favors the new spirit meter of Mr. Tice. He wishes it to be adopted. With regard to remedying frauds, he says : " I believe the adoption of a civil service like that existing in either of several countries abroad, with its care in the selection of officers, and a prompt dis missal for negligence, incompetency or fraud, would secure a very large part of the revenue due under the tax of two dollars per gallon. 'The very gear the civil service commis sion was established in Great Britain and Ireland, the rate of tax was advanced from 64. to 7s. 10d. perilon in Scotland, and In from 3s. 4d. to 62. per gallon in Ireland. The following yea , in 1856, these rates were still further increased, as they were in Ire land again in 1858, and in 1861 they were raised to 10s. throughout the kingdom. At that rate they still remain. Before the or ganization of this commission and the con sequentOmprovement of the civil service, it will be remembered that it was found in dispensably necessary to reduce the tax. He devotes some space to the question of direct tax. By section 14 of the act of July 28,1866, the Secretary of the Treasury was authorized to suspend the collection of the direct tax in any of the States heretofore declared in insurrection until January 1, 1868. In pursuance of instructions from the Secretary, bearing date the 3d of August following, the commissions for several of the States were dissolved as follows : Ala bama, September 30, 1866; North Carolina, December 1, 1866 ; Georgia, December 15, 1866; Louisiana, December 15, 1866; Mis sissippi, December 31, 1866; Texas, Febru ary 28, 1867; Arkansas, March 5, 1867; Virginia, April 30, 1867; Tennessee, April 30, 1867. The South Carolina commission is continued. The direct taxes collected in the following States, arid the amounts still due, are: .• Tax collected. Taxa Jikee. Virginia $468,674 51 ,860 11. North Carolina ...... ... 402,950 05 . - 173,244,01 South Carolina ..... .... 222,690 97 INFO 89 Georgia e 2 ,621 54 • 601,145 ra Alabama . .... - None. 529,813 83 6fieshBlppt -..-.......... 08,917 06., . 848,137 61 Louisiana ..... -.. ...... ... 310,863 78 -,' • • • 75,0 22 88 Tennessee 402A13.41. 269,654 50 Arkansas 151, 791 65 . 110,094 85 The accounts of the Texas commission are imperfect. The collections in that State, as far es reported, atiloapt to $158,100.96. This of includes penalty and Interest which were erioneonaly connoted under aMisixm struotion.efthei law, and will have to be re funded to' the tax payets." It 12 supposed that these will amount to fully one-third of the gross collections in the State. The total collection' of tax, penalty and interest in Florida, amonnts'to 113,506.08. He complains that the tax upon brokers' and bankers' saleels frequently avoided in the present system of paying these taxes by stamps, and recommends that the sales be returned to the assessors, and the tax upon them be paid to collectors, so that the stamp system may be abolished. Theother mode gives better opportunity to prevent fraud. He , recommends an increase of tax upon legacies of #2 upon the $lOO. In conclusion he remarks that the power of the United States to endure taxation and discharge its indebtedness springs not altogether nor mainly from its material resources, nor from the number of its population, multi plied as well by daily contributions from the whole civilized world as by the ordina ry laws of increase, but it is found in the industry, skill and enterprise of its people, which have become proverbial wherever the American character is studied and ap preciated.. It is not strange then that, as soon as the cost of the great rebellion, which their patriotism and courage had suppressed, was fully ascertained, the people with one consent set themselves patiently to work for its gradual payment. The nations of the Old World, burdened by the increas ing costs of naval and military establish ments, made necessary by their proximi ty and mutual jealousies, seem to have neither expectation nor hope of paying more than annual interest and current ex penditures, but their examples is to be avoided rather than followed by us, and it will be for Congress, in framing revenue laws and making appropriations, to deter mine the rapidity with which indebtedness shall be reduced, and to furnish the means for such reduction. Report of the. Postmaster General The Hon. A. W. Randall, the Postmaster General, in his annual report, presents s great many interesting facts in regard to the operations of the Post Office Depart ment, and the rapid extension of our mail facilities to the ends of the earth. It is grat ifying to know that the department received three-quarters of a million more than it expended last year. The receipts for post ages increased six per cent. • the total esti mates for next year are522,8:37,500 ; the tr.° of stamped envelopes is rapidly increasing; the sale of. stamps and stamped envelopes reached nearly $13,000,000; an improved stamp, to more completely prevent fraud, is in preparation; on June 30 last there were 7,743 mail routes in operation, the whole length being 203,245 miles; railroad routes, 34,015 miles; steamboat, 15,0'94; whole extent of annual transportation, nearly 79,000,000 of miles; increase of miles over 1806, 22,344, or over seven mil lions of transportation. Mr. Randall devotes a chapter to the new steamship routes provided for by legislative contract.. An investigation into the weight of mails and price for carriage shows an average of 20,000 pounds per day between New York and Philadelphia, at $375 per mile for the year, which is the highest land compensation. Much attention has been given to through malls between New York and New Orleans, and, generally, very good -.. 8211,129,52 17 .... 310,906,084 17 •265,920,474 65 drawback upon . refunded as or lected. ipts from several bre° past fiscal 4 - 6,M8 3,3-9,262 558,3,9 16,094,718 1,861,451 57,340.641 • ,116,4% 18.103,616 t 3,71,9 079 ,904,, 3,661,994 15,245,478 5,810,345 !LI 868.14:, 635,769 15,044, 4 78 163, - 0 60864 1361 1692, - 91 18.015,743 18,409648 5,317.:196 3,476:7.67 2 0299 - 5,11.8,1-10 29 196 9 - 14' I 983,500 time has been made. There are now 18 railway postal routes (postothce cars,) ex tending 4,435 miles, 879 miles served twice a day. The facts in reference to new foreign postal arrangements, treaties, tc., we have recently published; Mr. Randall considers that we have gained material advantages thereby; an arrangement has been made with Hong Kong for regular mails; the new Pacific ocean routes are important, and re qmire legislative attention and assistance. The whole number of removals during the year was 3,444; of appointments, 9,744; new postoffices, 1,885; postoffices discon tinued, 6,lll—whole number of officers, June 30, 25,163. Lotter delivery by carriers works well, and should be extended. Dead letters are less frequent this year. The money order system is established in 1,224 offices; 474,490 orders were issued dur ing the yearosmounting to $9,229,328, more than three times as much as in the previous year; the fees received were about $71,000, which was $20,261 over expenses. The re port calls special attention to the immense increase of foreign mail service, for which Mr. Randall wants a special superinten dent. On the matter of using the telegraph for postal pur‘poses ho has no opinion, but thinks it would be well to see how it works in Ureat Britain. The report closes with a sharp hit at the abuse of the franking priv ilege, by using printed or stamped facsim iles of names of Congressmen to circulate lottery tickets, cards, books, &c., and unless this swindle is stopped the transportation branch will need an extra million of dollars for carrying the stuff. Report of the Secretary of the Interior The HOn. O. H. Browning, Secretary of the In‘erlot, opens his report by stating that of the national domain 7,041,114 acres have ben disposed:of for $1,347,882. There have also been issued patents for private land claims in California to the amount of '4,363,300 acres. The last soldier of the Revolution who was on the pension roll is dead. There are 997 widows of such soldiers living. There are also of wars subsequent to the revolu tion and prior to the rebellion, 1,310 widows and orphans of soldiers now pensioners. There are 70,802 invalid military pension ers, whose pensions amount to $8,478,004, and 82,281 widows and orphans, whose pen sions amount to $9,664,075. There are 1,051 invalid navy pensioners and 1,327 widows and orphans, their aggregate pensions be ing $318,241. There are about 300,000 In dians in the country. During the past year there have been 11,655 patents issued and 3,486 caveats were filed, whilst 82 extensions of patents were grant• ed. The Patent Office , made a profit of $58,310 during the year. The Secretary de scribes the Pacific rail constructions and gives detailed statements of the receipts and expenditures of the part now built. During the year $1,203,214.75 have been advanced to United States marshals for court expenses, and the various district at torneys have been paid $146,945.29, and the United States commissioners $50,643.55; clerks or courts, $70,895.25, and other mis cellaneous expenses in this connection have amounted to $457,837.67. The total cost of the Pacific railroad thus far has been $2,175,748,879. Income from the earnings thus far, $ 35,634,475. The com pany have 53 locomotives, 15 passenger and 875 other cars. WM. LEAMAN, No. 5 North Duke et. Lancaster B. C. RREIDY, No. 38 North Duke St., Lancaster A. J. STEINMAN, No. 9 Haat Orange at., Lancaster! kl. M. NOMTIt, Columbia, Lancaster county, Pa. H. A. TOWNSEND. No.ll North Duke et.. Lancaster H. I. SWAKEI., No. 13 North Duke at.. Lancaster CHAS. DEN UES, No. 8 South Duke st., Lancaster ABEAM SHA.SI3. No. 38 N orth Duke et., Lancaster J. W. F. SWIFT, No. 13 North Duke et.. Laucaeter A. HERB SMITH, No. 10 South Queen et., Lancaster EDGAR C. HEED No. No. 16 N orth Duke et., Lancaster B. F. BAER, No. 19 North Duke st., Lancaster D. W. PATTERSON, No. 27 West King st., Lancaster F. R. PYFER, No. 5 South Duke st., Lancaster S. H. REYNOLDS, No. ES &kat King st., Lancaster J. W. JOHNSON, No. 25 South Queen st., Lancaster J. B. LIVINGSTON, No. 11 North Duke Bt., Lancaster A. J. SANDERSON, No. 21 North Duke street, Lancaster S. H. PRICE, No. 6 North Doke et.. Lancaster WIC A. WILSON, No. 53 East King et.. Lancaster WM. B. FORDNEIi; South Duke street, Lancaster, Pa. Nearly opposite the Farmers' National Bank SIMON P. EBY, ATTORNEY . AT LAW, OFFICE WITH N.ELLMAKEN, ESC., NORTH DUKE STREET. LA.NCASTER, PA. REUBVN K. LONG, ATTORNEY AT L.AVI, NO. 8 SOUTH DUKE STREET, Lancaster. Special attention paid to procuring or op posing discharges of debtors In bankruptcy, proof and presentation of claims, rendering rofessional assistance to assignees, and all business, in short, connected with proceedings in voluntary or involuntary bankruptcy, Whether before the Register or the United. States Courts. Parties Intending to take the benefit of the law will usually find it advan tageous to have a prelim nary ow/saltation. elB 21 NUMBER 49 Attorntllo-at-aLaut. •l ti t ,irCiAtTnin fil a q giZa h r WITO 0 y RlAk_ietaw • • saaalAa fx, nwgZni=Tiineiosl - nzet, and Scents far each_ subsequent limr 'Von. eszafAn NOM billette5:0,1 14 : 011 Col umn 15 cents per o•#irb • itarftryfebedliqt marriegea • and asatics o ni penis par inns for d Insertlan, and b cents for GYM subsequent LoSertion/ • Bototons Cfusnil,ol tan Mai • ne ne 10' • Bu o siss Cards,flve lines or less, one 6 LZGAL AND OTH a Novels- • - Executors' 2 . so • 2.60 Assignees' 2.50 • Auditors' =new,. Other "Notloes,'' ten tines, or lesaJF three timed,. .... ... . .50, TEE WASHINGTON LIBRARY COMPANY] PHILADELP,ELTA Is Chartered by the State et Pennsylvania, and Organized In aid of the RIVER SIDE INSTITUTE YOB EDUCATING GBA.IDTIOIJBLY SOLDIERS' AND BAILORS' ORPHANS. Incorporated by ibe State of N. APRIL tris, 1867 SUBSCRIPTION ONE DOLLAR./ THE WASHINGTON LIBRARY CO. BY VIRTUE OF THEIR CHARTER, ACCORDANCE WITH 17W PROVISIONS WILL DISTRIBUTE THREE HUNDRED THOUSAND DOLLARS IN PRESA'NTS TO THE SHAREHOLDERS, ON WEDNESDAY, BTH J4NUARYPTEX2 AT PHILADELPHIA. PA Or at the Institute, Riverside, N.:J I Present worth..... 1 Present w0rth........... 1 Present worth 1 Present worth 2 Presents worth $2,600 each... 1 Present valued at 2 Presents va ued at 15,000 each. 1 Present valued at 4 Presents valued at $5,000 each... 2 Presents valued at 0.3,000 each.... :3 Presents valued at $l,OOO each...... 20 Presents valued at $00) each 10 Presents valued at 8300 each Presents valued at esso.each 20 Presents valued at $225 each 55 Presents valued at $2OO each 50 Presents valued at $75 each 110 Presents valued at $lOO each 20 Presents vatued at $75 each The remaining presents consists of arti cles of use and value, appertaining to the diffusion of Literature and the line arts Each Certificate otStock is accompanied with a BEAUTIFUL STEEL-PLATE ENGRAVING, WORTH MORE AT RETAIL THAN TEE COST OF' CERTIFLUATE, And also Insures to the holder a PRESENT IN THE GREAT DISTRIBUTION SUBSCRIPTION ONE DOLLAR. Any person sending us ONE DOLLAR :or iayln g:Lhe garnet° our local Agents , will receive mmediately a fine Steel Plato Engraving, at choice from the following list, and One Certifi cate of Stock, insuring Ono Present in our published schedule. ONE DOLLAR ENGRAVINGS. No. I—"My Child! My Child!" No. 2 "They're Saved! They're Saved!" No. 3 "Old Seventy-81x; or, the Early Days of the Revolution." _ _ Any person paying TWO DOLLARS will receive either of the following tine Steel Plates, at choice, and Two Certificates of Stock, thus becoming entitled to Two Presents. TWO DOLLAR ENGRAVINGS No.l—" Washington's Courtship." No. 2.-- " Washington's Last Interview With his Mother." THREE DOLLAR ENGRAVINGS Any person paying THREE DOLLARS will receive the beautiful. Steel Plate of "HOME FROM THE WAR," and Three Certificates of Stock, becoming en titled to three Presents. FOUR DOLLAR ENGRAVINGS Any person paying FOUR DOLLARS shall receive the large and beautiful Steel Plate of "THE PERILS OF OUR FOREFATHERS,' and Four Certificates of Stock, entitling theta to Four Presents. FIVE DOLLAR ENGRAVINGS Any person who pays FIVE DOLLARS shall receive the large and splendid Steel Plate of THE MARRIAGE OF POCAIIONTAB,'' And Five Certificates of Stock, entitling them to Five Presents. .• The engravings and Certificates will be de livered to each subscriber at our Local Agen cies, or sent by mai , post-paid, or express, as may be ordered. How to Obtain Shares and Engravings Sond:orders to us by mail, enclosing from 81 to Sal, either by Post Office orders or in a regis lstere4 letter, at our risk. Larger amounts should be sent by draft or express. 10 Rhares with Engravings. 75 Shares with Engravings 50 Shares with Engravings 100 Shares with Engravings Local AGENTS WANTED throughout the United States THE RIVERSIDE INSTITUTE. Situate at Riverside, Burlington county, New Jersey, is founded for the purpose of gratui tously educating the 601173 of deceased Soldiers and Seamen of the United States. The Board of Trustees consists of the follow ing well-known citizens of Pennsylvania and New Jersey. HON. WILLIAM B. MANN, District Attor nay, Philadelphia, Pa. HON. LEWIS R. BROOMALL, Ex-Chief Coiner U. S. Mint and Recorder of Deeds, Phil adelphia Pa. HON.JAMES M. SCOVEL, New Jersey.: HON. W. W. WARE, New Jersey. HENRY GORMAN, Eso,-, Agent Adams' Ex. press, Philadelphia, Pa. J. E. WE, Eso,., of Joy, Coo & Co., Philad'a. TREASURY DEPARTMENT, WARRINGTON, D. C., April 18, 1887.—Office of Internal Revenue: Having received satisfactory evidence that the proceeds of the enterprise conducted by the "WashingtonagAbrary Company" will be de voted to charicable uses, permission is hereby granted to said Company to conduct such en terprise exempt 'roman charge, whether from stecial tax or other duty. E. A. ROLLINS, Commissioner. The Association have appointed as Receivers OEO. A. WOKE di CO., whose well-known in tegrity and business experience will be a sum. dent guarantee that the money intrusted to them will be promptly applied to (the purpose stated. PEILLADELPFILA, PA., May 20, 1867. 7b the Officers and Members of Washing ion Li brary Ob., N. CI. READ. Secreiary : Gentlemen : On receipt of your favor of the 15th inst., notifying us of our appointment as Receivers for your Company, we took the liberty to submit a copy of your Charter, with a plan of your enterprise, to the highest legal authority of the State, and having received his favorable opinion in regard to its legality and sympathizing with the benevolent object of your Association, viz: the education and main tenance of the orphan children of our soldiers and sailors at the Riverside Institute, we have concluded to accept the trust, and to use our best efforts to promote so worthy an object. Respectfully yours, &c., GEO. A. COOKE & CO. Address all letters and orders to GEO. A. COOKE & CO., Bankers, 83 South Third street, Philadelphia, Pa Receivers for the Washington Library Co. J. W. C. JACK Agent, Adams' Express Olilce Penn% is. R. Depot. oct SmdT.Sawilm RE UNDERSIGNED REGISTER IN /TI Bankruptcy in and for the Ninth Oongres. atonal District of Pennsylvania, (oomposedol the county of Lancaster,) Is prepared to attend to the duties of that office at his place of busi ness in South Queen street, on the east side three doors Irani Centre Square, in the city of Lancaster. A. SLAY2dAKER, Je ih 2td,ttfw Register in Bankrriptcy. pA. SMITH IV. CRACKE.II, BISCUIT AND QUID BAKES =dr ICING BTEUEICT, Three doors below Laie's Store, Lancaster, Pal sa- All the arttelealor sale at this establlab• mai - It aro hakad ?Yeah ovary day. J ROHRER, Waoia3:3A.LK DEAL= 12 , 1 FRENCH. BRAHRIA rEs. Gras WHISKIES, atc.i No. 13 Sorra QtrXiot Brass; (A few doors below (Antra_ tiqUareh LA.NCL&SPER. 1w weirrzn, A GOOD MAN IN EYDRY town and county of the Union, to en gage in the sale of a- patented article, used in every household, shop, office, hotel, store and public building, railroad cars, steamboats, do. persons already engaged are making immense inoomes,__anct the, demand. for the article never ceases. Your cuitomerti once obtained your income is great and parpetuaL Irull and setts lactory_wtionlars sent to all who may apply to J. LEWIS, No: 82 Cedar street, New York, with stamp... 'Box 8,821. oot 2 8 / 4 1T 88 .. , .. 18 5 ,0 000 00 80,000 .. 10, . 2,0 000 00 .. 0,000 .. 8,000 .. 10,000 .. 8,000 .. 750 4,500 .. 11,003 .. 8,750 .. 11,000 .. 1,500
Significant historical Pennsylvania newspapers