Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1856-12-08

enn provinces, before aud since The reciprocity
treaty. which went into effect in 1854. In 1853
the exports of American produce 10 those prov
inee. amounted to S7.40i057. and our imports
from them Ia s7,55O7ls; whist in 1855, the ex-
pbrts If American produce TO said provinces a
mounted io s227ll,697, and our imports from
them 10 s2l 3lO.42l.
The total gold and silver coinage of the L. ).
Mint from 1893 when the mint was fret esfab-
hshed-to :}Dih September, 1856. has been S5i9..
3Ilgll II and that the entire import from 1880.
when the account was first kept. has been 1898
sos 7i3. and the export St3f. 5s7 ,5i-there be
ing ~ account of,he imports and exports. prior
10 ls2D.
The de-ideratum of a sufficient uniform cur
renoy. of fixed value. in all the States and Ter.
rtnries j. all that is required far a currency
i concerned to secure "A sound aud healthy for
elm aud internal trade. A currency, partly com
posed of bank notes. has n liability. and TO some
extent "A tendency, 70 exec 50 against which con
yertibiIiiy into gold aud silver. on demand, is no
secutiy nor is the combining discounts 10 notes
aud bill. representing real transactions. secu
rty and never will be, whilst there - such
thing rs oyerrading and overproduction; andfnr
The same reasons pure metallic currency. would
not constitute perfect security, against dimin-
ished or redundant supply.
The establishment of pure metallc currency
would require the withdrawal of he corporate au-
thority. given by State charters, to 1898 banks
to issue md circulate bank notes as money, and
the consequent withdrawal Of sl95, 0OO,o 900, now
circulated by them. Congress ha, no power TO
act upon the charters granted by the States du
ring the continuance of the charters granted by
the States aud the States would certainly not
n rec 10 max surrender of the power TO Con
gress therefore, a pure metallic currency may be
set down az npractcahle under our constitution
and our aw- TO say nothing of the sentiment OF
people.
The existing tariff laws might be so modified
~ abe of more certain and easy execution. and
to the prevention of that huctuation III duties, OF
which the manufacturers and the friends OF pro-
lection complain. The greater part of the reve
nue. now collected is from iron and steel and man
nfnotures of iron and steel silk and manufactures
of silk wool and manufactures Of wool, hemp and
flax and the manufactures of hemp and flax, aud
the manufactures of cotton, and manufactures OF
which silk, wool. hemp, flax, and cotton are com
ponent parts, and brundies. wines and sugnrs.-
The import Of these articles for the first fiscal
year 1886 amounted to Sl66, OS9, 80, and the du-
Ties IN them To Sl7, l65 $50 o. us per statement
No. g Of This report.
The amount transferred for d b1rsemeut. du-
ring the pnst fiscal year, was S35 ,O53, 1892 at
II cost of SI2,9i5.e7. whilst the premiums paid on
sale of Treasury drafts, have been SJl92l lG,
leaving Sll,978 % over aud above the expenses.
It is believed that with care and vigilance. the
transfer Of public money will hereafter be made.
through the agencies of the treasurer. assistant
treasurer, aud depostories, without charge and
without risk, except under extraordinary circum-
stances aud in peculiar times The receipts and
expenditures. during the past fiscal year. have
amounted, IN the aggregate. 10 llb.S6b.9S} Is,
aud have all been, IN the constitutional currency
of gold aud silver. without any disturbing upon
the currency, the banks, or husines, 81 the coun.
try. However the withdrawal aud prohibition of
the snall note circulation of the banks j. deemed
essential to sound and staple currency, and to
be called for by the best interest of all the States
Abstract Of the Report OF the Secretary of War.
The authorized strength OF the army Is now
1891 men. The actual strength at the date Of
the returns. July J. 1850. was l556o. The mum
Der Of enlis,ments made during the twelve
months ending September 80, 1856, was 4,4i0
The number of offers refused ON account of mi
nority aud unltnrss for service was 1854. The
! number of casualties during the same time
600 If which 3,223 were by desertion.
All our Indian troubles in the Wet have ceas-
ed except with the Cbeycnnes.
The disposition Of the troops is given in detail.
II i recommended Ia extinguish the posses>u-
ry rights of ;he Hudson Bay Company. ms they
owe 10 allegiance To our government, and would
be- disposed 10 exercise powerful influence n
moGg the Indians against our people i occasion
required.
\ vigorous campaign has been projected a
gainsi the Florida Indians, General Harvey com
manding the military posts.
Much space is devoted to the consideration Of
the present :, stem Of military posts on the Yves
tern frontiers, and a complete revolution Of the
whole system il urged The expenses at pres
ent are enormous, without any corresponding
benefit To the country or frontier.
The great number of designations in the army
show the necessity f1r an increase of pay. l,rv
ld'nees policy injurious to professional pride,
white the hard service and frontier stations of the
otleer, require of them sacrifices which no 9th
er officers of the Government are called upon to
make. The expense Of living has been greatly
augmented, and the pay is ahont the same as it
was fifty years ago. 1t is bad economy, the re
port continues, to drive the active and inteli-
gent from the service which they ndorn.
ID STAYED OR STOLEN from the sub
scrhcr, In this City Thursday morning, the 4th
inst, Black English Setter, with white fore feet