The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1875-12-18


the surplus seeking q market wherever
there is = demand. for il: Under our
present system we should want none or
Would we have any we're it not that
custom dues must be paid 10 Coin, and
because Of the pledge to pay the interest
Of the public debt in coin. The yield OF
precious metals would flow out for the
purchase OF foreign productions, and
leave the United States hewers Of wood
and drawers of water because of wise
legislation on the subject Of finance by
the nations with whom We have dealings.
1 Am not prepared TO say tina. / can
suggest the best legislation TO secure the
end, but most heartily commend it. 1t
will be source Of great qualification to
me TO be able to approve any measure OF
Congress looking effectively towards
securing resumption. Unlimited intia-
ton would probably bring about specie
payments m ire speedily than any ieyis.
lati"n looking ~ the redemption of the
legal tenders in coin, but it would be ct
the expense Of honor. The legal tenders
would have no value beyond settling
present listffities, or, properly speaking,
repudiatins them. They would buy
nothing afte: the debts were all settled
There are few measures which seem tu
me important in this connection and
which cnurrcnd to your consideration.
A repeal Of 50 much of the legal tender
acts as makes the notes receivable for
debts t0 be contracted after date to be
fixel in the act itself To no later than the
first of January 1871. We should then
have u quotation ut real values-EC::
fictitious Ones-sold would no longer be
Al premium but currency at discount.
A healthy reaction would set in at once
and With g degree to make the currency
to equal what il purporis to he. The
merchants, manufacturers and tradesmen
of every calling could do business on a
fair margin of profit on money received
having unvdrying value. Laborers aud
all classes who work for stipulated pay or
salary would receive mIre for their
iucon,, because extra profits would 70
LANCER be charged by tie capitalists to
compensate for the risk Of downward
fuctuation in the value of the currency
Second, tina, tie Secretary of the Treas
9ry be authorized to redeem say not to
exceed 100000 monthly of legal
tenIsr notes, b. issuing in their stead
Ion. bond, bearing interest At the rate of
S25 100 per cent per aunrm, of demon
nations ranging from $500 to $1,000.
This would in time reduce che legal
tender rctes Co volume that could be
kept af1at without demanding redemp.
ton in large sums siidteniy. Third.
that additional power be given 20 the
Secretary of the Treasury to accumulate
gold for the final redemption of currency
increasing revenue, curtaililg expenses,
Or both,-it is preferable to do bpth-and
] recomm end that a reduction Of expen-
ditures b. made whenever it can be done
without iilpairins government obliga-
lions Or Gripping the due execution
thereof. OIs measure for increasing
the revenue, AL the ou!y Que think Of,
is the restoration of the duty on tea and
coffee. These duties woald add probably
$1S,001,0O TO the present amount
received for Imports, end would in no
other way increase the prices paid for
those articles by the Consumers. These
articles are the products of countries
collecting revenue from exports, and q,
We, the largest consumers, reduce the
dates, they prup,rticnally increase then:
With this addition to the revenue, many
duties now collected, and which give bnt
an Insignificant return for the cost of
collection, might he renitte |, and % the.
direct advantages Of CONSUMERS alone. !
would mention these articles Which enter
into manufactures Of all sorts. All duty
paid upon such articles goes directly to
the cost ofths article when manufactured
here, and must be paid for b. the con-
sun1ers. The duties now Only come
from the consumers alone, bu, acts as a
protection to foreign manufactures OF the
same complete article il our own and
distant markets.
FRAUDULENT CLAIMS AesITc2 egc GOV.
EaNMENr.
I win srgsess CT mention another sub
ject belriu i upOa tile problem OF how =
enable tie Secretary vi the Treasury ~
iccumulate biiaaccs. 1t is u devise
some better method OF verifying ctaiuis
against the government THAI At present
exists through the Cart VI Giaiins,
especially those Claim. growing oa. u the
late war. NJthIus Is lnor: esrta.a thaa
thst large percentage Of tls aalouats
passed and paid are partly Or whoIiy
or are far in excess Ut tue
real losses sustained. The large amount
of loss proven OH good testimony, accord.
ing to existing laws, BY a:iiavits Oh
fictitious or unscrupulou, persons to have
been Sustained Oh small fsrHs aud
plantatijus are not only far beyond the
possible yield of Those PAGES for any one
year, but, IL every one knows who has
had experience in tiiling the soil and
who ha, visited the scene Of tile spOila
ton, are, in many instances, more than
the individual claimants were ever worth
including their personal and real estate.
The report of the Attorney General which
will be submitted to Congress 1t in early
day, will Contain & detailed history Ut
awards made and of claims pending of
the class here referred to.
AEaY OPERATIONS.
The report Of the Secretary Of War,
accompanying this message, gives u
detailed account of the Amy operations
for. the year just passed, expenses for
ETC., with Recommendation
for legislation, to which I respectfully
invite yo1r attention. 70 some Of these
invite special attention. First, to the
necessity Ut making $50, 900 OF the appro-
Priation for the subsistence department
available Tor the beginning of the next
hscal yesr. Without this provision.
troops ut points distant from supplies and
protuctions mast either 90 without food
or existing laws must be violated. 1t is
not attended with cost to the treasury.
Second, his Recommendations of an equit-
abs system of anuities for families of
deceased officers BY VOLUNTARY reductions
from the monthly psy Gf officers. This
4 Lain Ia naf afiaxdarl eiah h.,