The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1880-12-09


appreciation Of the opportunities which front O
the Pacific ocean gives to commerce with japan
CHINA, and the East Indies, with Australia anu u
island groups which lie along these routes OF nav
CATION, should inspire equal efforts to appropria
To our own shipping, and to administer by our o"i
capital, due proportion of this trade. WhateNe
notifications II regulations of trade ana nay
fgaffon may he necessary or useful 10 meet ana al
rect these impulses to the enlargement Of our ex
changes aud OF our carrying trade. am sure tn'
wisdom of Congress VIII he ready to supply. on
initial measure, however, seems to me- 50 cieafl,
useful ana eGcienI that venture to press 1t upof
Your earnest attention. 1t seems to be very eluei
tnat the pr9ysi9no OF regular steam-postll coinuu
nlcation, by aid from the Government mas peell .is
forerunner OF thec3mmercIal predominance fGrea
Bftain on ali the COASTS aud seas, greater snare
Ia whose trade is now thedesire and intent o. oai
peOple Is also manifest that the efforts OF otnl
European nations to contend with Great Britain fol
a snare CT this commerce have been successful In
/ proportion with their I'D ptiou Of regular steam
postal comm uication with the markets whose tfftie
taey sought A.eX1eO ana tile Stairs ofSoath Amer
| lea anxious 10 receive such postal communica-
lions with this country, and to aid in their develop
/ mont. Siaiar cooperation may be looked for III de
tiBe from lie Eastern nations an1 from Australia
IL Is aihleulB TO see hos the lead Ia tho movement
can 10 peoted from private Interests IN reSPecl
81 rOreign c2in nerce, q Treas much as 10 intefntl
ifaie, postal eAmiaahieation se5nS necessarily !,
Tnutief OF confn9n ana public admin strat1on ana
mus pretaining to government. respectfully re-
commend 20 your prompt attention such JUST ana
effective mBasures mIy condace to the develop
ment OF our oreign commercial exchanges and the
building up Of our carrying trade.
In this connection 1esire also to suggest the very
great service which might be expsce Ell In enlarging
and facilitating our commerce on the Pae1nc ocean,
were a transmarIne cable laid from San Francisco
the Sandwich Islands and rhepce to Japan at the
North and Australia at the South The great infiu-
ence of such means oil communication on these
routes of navigation, in developing and securing
the due share of Pacific coast in the commerce
of the world, needs no illustration or enforcement
1t may be that such enterprise useful and In the
end profitable it would prove to private invest
ment may need to be accelerated by prudent legis-
lation by Congress la Its aid and submit the mat
ter to your careful consideration.
An additional and not unfinportant, although
secondary reason for fostering and charging the
navy may be found in the unquestonable service to
the expansion of our com nerce, which would be
rendered by the frequent circulation OF naval ships
In the and ports Of all quarters OF the GLOBE
Sh ps OF the proper construction and equipment, to
be OF the greatest efficiency In case maritime war;
might be made constant and active agents In time
Of peace in the adyoncemsnt ana protectlon OF our
foreign trade and in the nurture and discipline OF
young seamen, who would naturally, In some num-
bers, mix with and improve the crews OF our mer
chant ships. Our merchants az homo and abroad
recognize the value to foreign commerce OF an &C
tive movement Of our vessels and the 1nteii1gence
and patriotic zeal of naval officers In promoting
every interest Of their countrymen is just subject
of national pride.
OUR FINANCIAL AFFAIRS.
The condition Of the financial affairs OF the Gov
eminent, as shown by the report of the Secretary
OF Treasury, is very satisfactory 1t Is believed tha
the present financial situation of the United States
whether considered with respect to trade. currency,
credit growing wealth, the extent ami variety OF
our resources is more favorable than that Of any
other country OF time, and has never been sur
passed by that Of any country at any perod OF Its
history. All our industries are thriving; the rate
of interest is ow railroads are being construc
ted vast Immigration is increasing, our popula-
ton, capital, and labor; enterprises in great
number are in progress and our commercial rela
tions with other countries e improving
Here follows an abstract of the repor5 OF the Sec
rotary Of the Treasury of great length, giving the
present condition of the bonded debt and state OF.
the currency of the country.l
THE SILVER DOLLAR.
At the time Of the passage of the act now in force
requiring the coinage of silver dollars, fixing their
value and giving them legal tender character, 1t
believed by many of the supporters of the meas
are that the silver dollar, which it authorized,
would speedily become under the operations of the
law of equivalent ne to the gold dollar. There
were other supporters OF the bill, who while they
doubted as to the probability of this result
theless were willing to give the proposed exper-
ment fair trial, with view to stop the coinage, If
experience should prove that the silver dollar au
thDrized by the by the bin continued TO be oI tess
commercial a3ue Efsazf HE standard gold dollar
Fhc c0{sagc Df silver doIarss under theac refer
red to, began la March, 1878 and has been continued
as requtrea ny the acI the average rate per month
to the presenttlse las been sa,276, 1872 The total
amount coined prior to the 1st of last was
S2,847,750 or this ST. 0S4, 450 remain In the
Treasury. and only $25. 1921 are in the hands of
the people. constant effort has been made to keep
this currency IN circulation and considerable ex-
penSe has been necessarily incurred for this pur-
pose, but its return to the Treasury is prompt and
sure. Contrary the confident anticipation of the
friends of the measure at the of its adoption,
the value of the silver dollar containing 412 grains
of silver has not increased During the year prior
to the passage OF the bill authorizing its coinage, the
market value OF the silver which it contained was
from ninety to ninety two cents, as compared with
the standard gold dollar During the last year the
average market value OF the silver dollar has been
eighty eight and half cents.
1t is obvious that the Legislation Of the last Con-
gress in regard to silver so far as it was based oman
anticipated rise in value of silver result of
that legislation, has failed 10 produce the effect then
predicted The longer the law remains in force, re-
curing as 1t does the coinage OF nominal dollar,
which, in reality is not dollar, the greater becomes
The dagger hlt This country viii be forced to accept
a single metal as the lie legal standard OF value, in
circulatioD and this standard of less value than
u purforts to De worth in the recognized money OF
the world,
rho Constitution of the United States, sound fnan-
eial principles and interests, all lure
that the country should have its legal-tender
ley, both gold and silver COIN of intrinsic val-
Ne, as button, equivalent to that which, npon its
lace. il purpoets 20 possess. The Constitution, in
press terms, recognizes both gold and silver as the
only true legal tender money. To Danish either of
these metals from our currency is to narrow and
limit the circulating medium OF exchange to the
,fSparagement Of important interests. The United
states produces more silver than any other country,
ana Is affeesiS intorestev IN maintaining IL as one
# the two precious metals which furnish the coin
age OF the world Il will in my Judgment, contrib
ute to the result IL Congress will repeal much of
existing legislation requires the coinage of silver
dollars containing only 412x grains of silver, and in
It's stead Will apthor1zi the secretary of the Treasu
~ to coin silver dollars OF equivalent value bull
ion, with gold dollars This viii defraud man,
and will be in accordance with familiar presidents.
Congress, on several occasions, has altered the
TO Of value between gold and silver IN order to es
ratio OF value between the two metals.
We omit the War and Navy Department reports
and recommendations from synopsis as of lille
interest to readers, except the following para
graph:
Attention Is asked to the necessity of providing
by legislation for orga zlng arming and discipling
The active militia OF the country and liberal appro-
priations are recommended in this behalf. The re-
ports of the Acknowledgement of the Army and the
Chief Of Ordnance touching this subject fully set
forth lis Importance.
INTERNAL IMPROVEMENT
comprehensive improvement of the Mississippi
and its tributaries is a matter of transcendent i'm
portance These great water ways comprise a sys-
TEN OF inland transportation spread like ork
large portion of the United States and navi-
gable to the extent Of many thousands of miles.
PRODUCERS and consumers alike have common in
terest in such unequalied facilities for cheap
poftat1on. Geographically, commercially, and poit-
cally they are the strongest tie between the vari
Gus sections Of the country. These channels of
communication and Interchange the property
Of the Nation. Its jurisdiction is paramount over
their waters, and the painest principles of public
interest require their intelligent and careful super
vision with view 10 their protection, Improvement
and the enhancement of their usefulness.
The Columbia river also comes in for a recommend
alton equal to the Mississippi.
CAPT.-GENERAL GRANT,
Says the President:
II commend to the attention OF Congress the great
services Of the COMMUNICATIVE Chief of our armies
during the war for the Union, whose wise, firm and
patriotic conduct did much bring that momen-
tons conflict to close The legislation of the Uni
ted taIes contains many presidents for the recog-
milton of distinguished military merit authorizing
rank and emoluments to be conferred for eminent
services to the country An act of Congress author
izfng the appointment of Captain General OF the
army, With suitable provisions relating to compen-
5ation retirement and other details Would, in nv
judgment, be altogether fitting and proper, and
would be warmly approved by the country
THE PosToFFICE DEPARTMENT.
The report Of the PostmasterGeneral exhibits the
continual growth and the high state OF efficiency of
the postal service Interpretations of no department.
III The Government, perhaps represents with great
ef eXcneSS the Increase i'll the population and the
business of the country In 1860 the postal receipts
S5lS0 40: in 1889 the receipts S33 3d.
1884 All Inhabitants Of the country are direct
yand personally Interested in having proper mail
facilities, and naturally watch the postofice very
closely. This careful oversight the part OF the
people has proved q constant stimulus to improve
nenG During the past year thefe increase
II 2,13 postonces, and the mail routes extend