The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1869-12-09

,tieu in the value a c6frehcy. The
toethuds to secure ttlese results al nj
nerous as are the speculatio'p q,
political economy. asee but ope
way, and that n tdaauk horte the
. treasury to redeem It's own paper Mt a
I. liked price, whenever presented: to with
hold from circulation all such currency
redeemed until sold again for gold. The
vast resources Of the nation, developed
and ,n,developed, ought to make our
/ credit the best on earth with ..aless bur-
den Of taxation than the ciiizeDs have
endured for six years past, the entire
public debt could be paid in ten years;
| hut it IL not desirable that the people
! should lie taxed to pay 1t in that time
Year BY year the ability to pay increases
: iii a rapid ratio, but the burden Of in
! terest ought to be reduced as rapidly as
can be dDne without the violation OF
contract. The public debt il represent
ed in a great part by bonds having five
tn twenty and from 10 to 40 years TO run
tearing interest at the rate of six per
cent respectively. IL sfrptionst with,
the Government to pav, these bonds at
any period after the expiration, Of the
last time mentioned upon tifeir 1aec,1
The time has already exPired when a
great part Of them may he tsssen up,
81
when ali may be. IT IS believed that
nh which aSe TOW due may he replaced
,hy bonds beslripn ~ rate of interest not
exceeding feMr xA.l \. half per cent, aud
1 d. ,t ,Rsi yay 81 fepissed II the same
way. In rraer 70 accomplish THIS II
may I've necessary 10 AUTHORIZES the IN
teLsst t9 9e paid nj sitbfr RI p,6eii 'bfe ~
any Assistant Treasurer Of TIE United
States, at the option of the Holder Of the
bond. X suggest &hts i subject for trs,
consideration Of Congress; also, Sunul-
taBeousIy with this, the.proprsety OF re-
deeming Our currency rs before, Suggest
ed, ut It's market value 1T; the t41he the
law gtA.s iistp effect II increasing the1 rate
which reurrspcy .wi!h be bought, and
tsaIu' from dag to, day or week to
week, AZ Be Same rare' Of Interest as
the government pays hportf bonds.
b., The snAject ef tl'e tariff' and internal
taxation Viti NECESSARILY 3 receive your
attention. yhslreyenuesp Of the country
are greater than the requirements and
may with safety be reduced, but as the
, funding nftls deat iAa fouf or a fo,'r aud
! a half per cen t.. loan would reduce the
! the Annual current expenses, largely,
thus, after funding, j,lstifying, = greater
reduction of taxation than would u,
now expedieiit - + Suggest the post-'
ponement Of this q question. 1until the
next meeting Of. Congress 1t may We
admissible Ia modify taxation and tar
Him instances whpre unjust or burden"
sosss determinations are made Gby" thh
press II h. LAWS hat IL general revision Of
tic laws regulating, this subject recoln-.
4acnd the postpopement of, for the pres
ent. I also suggest The renewal Of the
tax On incomes, but at airetluced rate,
say Of three tser cent. ssud'this tax to ex-
pire in three years. With the funding
Of the national debt as here suggested.
feel safe in say ing the taxes and reve-.
me from imports may be re,ihced safely
+ ON sixtyto cightytnlillions per snnum,
at onceand still further reduced from
year to year as the resources OF the
country are developed.
The report 81 the Secretary OF the
Treasury shows the receipts Of the tiov-'
eminent rtle fiscal year ending June.
3D. 1886, to be $3.50, 943,147; and the ex-
peHditures, interest, &c, to be S32l 4oO,-
j91 Tllcestimates for the ensuing year
are more favorable to the Government,
and will, no doubt, show a large de-
crease of the public debt. The receipts
y
lures have exceeded the amount Heces-
sary to he placed to the credit of the
sinking fund, As provided Ivy law. To
lock up THE ~iirpiu, in the Treasury and
withhold it from circulation, would
! lead to such contraction of currency as
ta cripp,e trade and seriously affect the
prosperity of the country. Under these
circumstances the Secretary Of the
Treasury and myself heartily concur in
the propriety Of using the surplus cur
rency in the Treasury in the purchase
Of Government Bonds thus reducing the
! interest. hearing debt OF the country
and Of submitting to Congress the ques
} ton of the disposition TO be made of the
, bends ~ purchased. The bonds now
held by the Treasury amounts to about
S70 900, 900 including thore belonging to
the sinking fund recommend that
the whole he placed to the credit of the
sinking fund. Iour attention is re-
specially invited to the Recommending
} ton of the Secretary Of the Treasury for
! the creation Of the office OF Commits
5ioncr of Custom Revenue, for the in
crease Of salaries OF certain officers and
the sub Sfiution Of an Increased National
Bond circulation to replace the out
/ Standing 3 per cent. certificates, and
most especinllN,his Recommendation for
the repeal Of laws allowing shares Of
fines, penalties, forfeitures, &c, to Off
GERS of the Government, or to informerS.
The office ofC0mmissiuner of'Internal
Revenue isone Of the most arduous and
responsible under the Government. 1t.
falls but little fanny short Of Cabinet POI
sitinn ,ihits importance and reSponsibiii-
i,y. would ask for il, tl,erefore such leg-
is.lation rs IN your judgement will place
the Office on Il footing Of dignity conf
lnensurate with its Importance ami
/ with the character and qualification Of
. the CLASS ut mon required to iil it, prop
,erly.. As the ,Uhitel States ,ia,the fire.
est or all Nations, 50, too the, people
sympathize with all People struggling
ior liIertyi and self government, hut
/ while so sympathizing, it is dae to our
honor that we should abstain. from ell
forcing our views upon an unwilling
nafi"n, and from taking an Interested
apart witiiuut invitation, in the quar-
ftl hetwecn governments aud their SUBJ
Jects. Our course should always be in
coy t"rmity with strict justice and law
shternatfonal and local. Such has been
the policy oftiie administration in deal!
my with these questions for moro than
"a year. W. t;,,-,a. nj =, .,...... ..>..,,
H.! valuable province Of Spain aud 4
near neighhor Of ours, in whom an our
people cannot but feel n deem iutprest