FINANCES OF THE UNITED STATES (1867-'69). 



189 



home and foreign markets, 300 ; possession of 

 home markets interfered with, 300; foreign 

 restricted to a few articles, 300 ; decrease of 

 exportation in a series of years, 301 ; decline 

 of the shipping interest, 301 ; dividends of 

 some manufacturing companies, 302 ; clamors 

 for an advance in the rates of duty, 302 ; three 

 remedies suggested for the abnormal condition 

 of the country, 302. 



Measures suggested by the Secretary of the 

 Treasury on the condition of the country, 303 ; 

 suggestions of the chairman of Ways and 

 Means in the Lower House of Congress, 304 ; 

 aspect of affairs, 304 ; public debt in June and 

 October, 1866, 304 ; estimates for the fiscal year 

 ending June 30, 1867, 305 ; range of prices of 

 Government securities in 1866, 305 ; range of 

 prices of some important railroad shares, 306 ; 

 coinage of the United States mint and branches, 

 306 ; gold and silver of domestic production, 

 306 ; deposits at the mint, 306 ; daily highest 

 and lowest price of gold at New York in 1866, 

 307 ; treasure received at New York from Cali- 

 fornia and foreign ports, 308. 



VII. Improved aspect of fiscal affairs, 302 ; 

 actual receipts and expenditures for the first 

 quarter of the fiscal year, 302 ; estimates for 

 the remainder of the year, 302 ; reduction of 

 the debt, 302 ; change in the character of the 

 debt, 302 ; statement of indebtedness June 30, 

 303 ; summary statement of debt November 1, 

 304 ; views respecting the excess of currency, 

 304 ; contraction of the currency, 304 ; pros- 

 pective resumption of specie payments, 304; 

 consolidation of the debt, 304 ; importance of 

 contracting the currency, 305 ; views of Secre- 

 tary of the Treasury, 305 ; opposition views, 

 305 ; retiring the circulation of national banks, 

 806 ; policy of the Government respecting 

 specie payments, 306 ; payment of the public 

 debt, 306; statement of the condition of the debt, 

 306, 307; reduction of debt, 307; opinion of 

 the Commissioner of the Eevenue, 307; sources 

 of revenue, 308 ; ability of the country to sus- 

 tain taxation, 308 ; amount of business in lead- 

 ing commercial cities, 308; consumption of 

 various necessities, 309 ; fall in prices, 309 ; 

 operation of the revenue law, in regard to 

 available sources of revenue, 309; tax on 

 spirits, 309; tax on fermented liquors, 309; 

 on tobacco, 309; receipts from stamps, 309, 

 310 ; recapitulation of receipts, 310 ; redemp- 

 tion of bonds, 310 ; report of Senate Finance 



Committee, 310; daily prices of gold at New 

 York, 311 ; bullion deposited at the mint, 312; 

 prices of railroad shares, 312 ; imports and 

 exports of specie, 312. 



VIII. Eeceipts of the Government, 250; 

 receipts and expenditures, 250; do. for the 

 year ending June 30, 1868, 251 ; increase of 

 the debt, 251 ; total receipts since the close of 

 the war, 251 ; actual reduction of debt, 251 ; 

 statement of the indebtedness of the United 

 States, 252 ; changes made at the close of the 

 war, 253 ; course pursued by the Treasury De- 

 partment, 253 ; questions of importance con- 

 nected with the national debt presented during 

 the year, 253 ; currency for payment of five- 

 twenty bonds, 253 ; acts of Congress authoriz- 

 ing the issue of five-twenty bonds, 254; act 

 limiting the amount of greenbacks, 255; the 

 funding bill of 1868, 255 ; proposition to sus- 

 pend the payment of the principal of the debt, 

 255 ; coin contracts, 255 ; recommendations of 

 the Secretary of the Treasury, 256; circulation 

 of national banks, 256; irredeemable paper, 

 256 ; commercial relations of the United States 

 to other countries, 256 ; increase in the prod- 

 ucts of domestic industry, 257; all articles 

 produced in other countries at a greater profit 

 than in the United States, 257; unusual con- 

 dition of affairs, 257 ; influence of irredeema- 

 ble paper to increase the cost of manufactures, 

 258; fluctuation of prices, 258; increase of 

 wages, 258; average weekly expenditure of 

 families, 258 ; compared with average weekly 

 wages, 259 ; weekly wages, 259 ; modification 

 of the system of direct taxes, 259 ; basis of the 

 tariff, 260 ; causes interfering with the rapid 

 development of the country, 260; aspect of 

 financial affairs, 260; bullion, 260; coinage, 

 260 ; fluctuation in prices of principal articles, 

 261 ; resumption of specie payments, 261 ; 

 treasure movement at New York, 262 ; prices 

 of shares at the Stock Exchange, 263 ; daily 

 price of gold, 264 ; Government securities, 265. 



IX. Eeceipts and expenditures for the year 

 ending June 30, 1869, 252 ; do. for the quarter 

 ending September 30, 1869, 253 ; estimated re- 

 ceipts and expenditures for the fiscal year 1870, 

 253 ; decrease of the public debt, 253 ; excess 

 of receipts over expenditures, 253; sinking- 

 fund, 253; condition of the currency, 254; 

 views of the Secretary of the Treasury con- 

 cerning the more immediate management of 

 the public debt, 254; excess of receipts over 



