FIELD, RICHARD 8. 



FINANCES, UNITED STATES. 287 



was unalloyed by any feeling of doubt or envy. 



._'n countries were almost us loud in his 

 praise as his own. The English, who are good 

 n;i\:il critics, took the lead, and were as warm 

 in lauding him as they were in singing the 



i loss of (icneral Lee. The London United 



<-e Magazine, which was by no moans 

 p\ 1 11 to speaking favorably of the Union cause 

 or commanders, said, "Farragut is Columbia's 



;" the highest praise an Englishman 

 con Id bestow on a foreign naval officer. It 

 also said that "the 5th of August, 1864, was 

 u brilliant day for the United States Navy," 

 and that "at Mobile Admiral Farragut dis- 

 played the attributes of an experienced naval 

 officer, resolution and zeal, ingenuity and per- 

 st-u-runce, ready ability and immediate dash." 

 The Prince de Joinville said of the battle near 

 Mobile, "The Americans there accomplished 

 a feat of arms of which they have reason to 

 be proud, for there is not a more transcendent 

 one in the naval history of our time ; and the 

 skilt'ulness, the energy shown on this occasion, 

 as in so many others, by Admiral Farragut, in- 

 contestably place him in the first rank among 

 the naval officers of all nations." In Novem- 

 ber, 1864, Rear- Admiral Farragut went to 

 Washington to give his views with regard to 

 certain contemplated naval operations. The 

 next month he received the thanks of Con- 

 gress, and the grade of vice-admiral was cre- 

 ated for our navy, and he was appointed to 

 hold it, which placed him, under the Presi- 

 dent, at the head of the naval service. He 

 returned to blockading duty in the Gulf, and 

 toward the close of the war was sent to James 

 River. In July, 1866, he was promoted to the 

 rank of admiral, created for him. The mer- 

 chants of New York, feeling that his services 

 had been invaluable to the national commerce, 

 spontaneously made up a purse of $50,000 and 

 presented it to him. He had been too busy in 

 lighting the enemy to make profits, as some 

 other of the naval officers had done, either in 

 the capture of blockade-runners or the seizing 

 of cotton. After the close of the war, he was 

 sent on a cruise in the Franklin to European 

 waters, and everywhere met with the most 

 distinguished consideration and regard. After 

 his return to this country, Admiral Farragut 

 was an almost constant invalid. He had suf- 

 fered greatly for the past year, and death came 

 to him as a relief to a hopeless victim. No 

 character in our national history has united 

 more fully than did his a grand, honest, brave 

 heart, with a simplicity and artlessness of 

 manners which won the love of every true 

 man. 



FIELD, RICHARD STOCKTOX, LL. D., an ac- 

 complished scholar and jurist of New Jersey, 

 born in Princeton, N. J., in 1805; died there, 

 May 25, 1870. He was connected with some 

 of the most prominent historical families of 

 New Jersey, being a nephew of Richard Stock- 

 ton, one of the signers of the Declaration of In- 

 dependence, and a cousin of Commodore Stock- 



ton. He was educated in Princeton College, 

 where he afu-rwunl tilled the professorship of 

 the law-school, having studied under James 8. 

 Green. He was Attorney-General of the State 

 for several years, and occupied a seat in the 

 United States Senate for six weeks in 18C2 

 and 1868, following the decease of Senator 

 Thompson. At this time he was appointed, by 

 President Lincoln, Judge of the United States 

 District Court for New Jersey, which position 

 he filled with signal ability till his lulling health 

 compelled his resignation. He was a delegate 

 to the Philadelphia Convention in 1866, and 

 throughout his life was an unflinching and 

 able advocate of the Union cause. After his 

 elevation to the bench he lived comparatively 

 secluded, in his splendid mansion at Princeton. 

 Judge Field was a man of varied and profound 

 learning, gentle, courteous, and dignified in 

 his demeanor, and of a charitable disposition. 

 He was closely identified with the interests of 

 his Alma Mater, and some of his ablest essays 

 and addresses have been delivered within its 

 walls. 



FINANCES OF THE UNITED STATES. 

 The general system of finance adopted by the 

 Federal Government in 1869 was continued 

 through the year 1870, with a constant im- 

 provement in the same features. The difference 

 between gold and the paper currency steadily 

 declined from 32.9 premium in 1869, to 15.2 

 per centum premium in 1870, which was 

 equivalent to an average improvement in the 

 paper currency of about 17 per centum. At 

 the same time a gradual reduction was made 

 in the amount of the public debt, by applying 

 to its payment the excess of the revenue. 



The receipts and expenditures for the quar- 

 ter ending September 80, 1869, which is the 

 first quarter of the fiscal year ending June 80, 

 1870, were as follows : 



RECEIPTS. 



Customs $52,598,921 86 



Internal revenue 47.986,868 61 



Lands 898,86408 



Miscellaneous sources 7,412,483 67 



Total, exclusive of loans $106,831,682 02 



EXPENDITURES. 



After deducting the amount of repayment* 



by disbursing officers and others : 

 Civil service and miscella- 

 neous $15,102,802 05 



Indians and pensions 13,647,942 79 



War Departmept 18,595,468 05 



Navy Department 6,782,68096 



Interest on the public debt. . 87,452,270 74 



Total, exclusive of loans 85,480,514 59 



Receipts tn excess of expenditures. ..$23,351,107 43 



The estimated receipts and expenditures for 

 the three remaining quarters of the fiscal year 

 were as follows : 



RECEIPTS. 



Customs $135,000.000 00 



Internal revenue m '295'592 55 



I.-uiil- 4.000,00000 



Miscellaneous sources 80.000,000 00 



Total... $286,<M0 00 



