The silver state. [volume] (Unionville, Nev.) 1870-1903, 1881-12-08

lie, the descendants of Lafayette and
his gallant compatriots, who were our
allies in the Revolution, has served to
strengthen the spirit of good will which
has always existed between the two
Nations.
BI-METAIIC CONFERENCE.
NO agreement was entered into by
the Bi-metalic Conference held last
Summer at Paris, but valuable inter-
change of views was had, and the con-
ference will be renewed next year.
TIE SILVER QUESTION.
Upon this important subject to the
people of silver producing States and
Territories, the President says: | ap-
prove the recommendation of the Sec
rotary of the Treasury that provision
be made for the early retirement of sill
yer certificates and that the Act requir-
ing their issue be repealed. They were
issued in pursuance of the policy of the
Government to maintain silver at or
near the gold standard, and were ac-
cordingly made receivable for all Gus
toms, taxes and public dues. About
&c, OO0, 600 of them are now outstand-
ing. They formed an unnecessary ad-
dition to the paper currency, and suf-
ficient amount which may be readily
supplied by the National Banks in ac-
cordance with the Act of February %,
1878. The Treasury Department has
monthly caused at least 100000 in
value of silver bullion to be coined into
standard silver dollars, l02, 0OO,0O of
these dollars have been coined while
only about 1900, 600 are in circula-
tion.
For the reasons which he specified, |
concur in the Secretarys recommends
ton, that the provision for coinage of
a fixed amount each month be re-
pealed, and hereafter only SO much be
coined as shall be necessary to supply
the demand. The Secretary advises
that the issue of gold certificates should
not for the present be resumed, and
suggests that the National Banks may
properly be forbidden by law to retire
their currency except upon reasonable
notice of their intention to do so. Such
legislation would seem to be justified
by the recent action of banks on the
occasion referred to in the Secretary's
report.
FRACTIONAL CURRENCY.
OF the fifteen millions of fractional
currency still outstanding, only about
eighty thousand has been redeemed
during the past year. The suggestion
that this amount may properly be
dropped from future statements of the
public debt, seems worthy of approval.
THE PUBLIC DELFT.
The President, after giving an i'm
mense amount of figures relative to the
financial condition of the country, sums
up as follows: It is estimated that
even if the annual receipts and expend-
lures should continue as at present,
the entire debt would be paid in ten
years. In view, however, of the heavy
load of taxation which our people have
already borne, we may well consider
whether it is not the part of wisdom to
reduce the revenues, even if we delay
little the payment of the debt.
THE ARMY.
The Secretary of War recommends
the legislation necessary to increase the
number of men to thirty thousand, the
maximum allowed by law. This he
deems necessary to maintain quietness
on our ever shifting frontier; to pre-
serve peace and suppress disorder and
maurauding in new settlements; to pro-
tect settlers and their property against
Indians and against the encroachments
of intruders, and to enable peaceable
emigrants to establish homes in the
most remote parts Of our country.
THE MORMON PROBLEM.
For many years the Executive, in his