The Cecil Whig., 1881-12-10

dollars have been already coined: while
only about thirty-four millions are III
circulation.
For the reason which he specifies. |
concur in the Seceretary,s recommends
tion that the provision for coinage of
liked amount each month be repealed,
aud that hereafter only So much be coin
ed 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 he
forbidden by law to retire their currency
except upon reasonable notice of their
intention 50 to do. Such legislation
would seem to be justified by the recent
action OF certain banks on the occasion
referred to in the Secretary's report.
REFuNpING THE BONDED DEBT.
In the last annual report of the Secre-
tary of the Treasury the attention of
Congress was called to the fact that
S4G9, GJl $50 in five per centum bonds
and $a03. 5,:5, 80 in six per cent bonds
would become redeemabe during the
year, and Congress was asked TO au-
thoriZe the refunding Of these bonds
at a lower rate of interest. The bill for
such refunding having failed to become
in,;l Ia.+ nnt;Gad tho holders ~ +hn
$40, 500 400 siv Nor centum hnua. tIan
outst,ndinu that the bonds wouId be
maid at mar on the first dav of .lulv fol-
iow;nr ar tbot tbev might he ..cnntin.
nod at th, nInocure of tbc Government
~ Ls.r irtarnst ,t tb, rotc or tho. ,n,i
onc. half nor c,ntum ner annnm Tn6.r
th;s nnt;ra s11S O5j $50 or thc civ no.,
centum bonds were continued at the low
rate and ST.. Ga. 80 were redeemed
In the mout; of Nav \ like notice.
was Given resnactipr tho red.mnt;,, or
continuance of the s439 S41 80 of tiv,
per ceutum bonds outstanding. and Of
these s4O1 5O1 900 were confirmed nj
three ana ane,haii per centnm per an
c; pcr centum bonds of the loan of Feb.
,,,,r,- Z 1861 and nf tl,a Orotrnu v.,
lnht ,mouniiur tooetber to s1I 15a 500
havin~ matureG dnr,nr tha vear th.
Sncref,rv nf ,La rr,,snrv n,va notice nt.
his INTENT i'm to redeem the s,,no and
sncb as hova bean nresnntnd hove b.a,,
III rn,,, tl,o s,,.,,I,,s ,,,.o,,,,a, -,l,a,,,
Ln,.a 49,, ha,,, ,a,,nnn,od ~ ere 20
100 l,t +1 - i.i' 1I
,,,,,;,,l, .ni - L.,lI ,,I'>s,
I'LL, Io,.,,' ,,l,,,,,<,l - l,.a,, ;s,4.I
i''' w 800 ~ oc" 20 I'M ~, w. 1'''-
.iis 'lic ie"i Vi - 'o'''oo. he ieuuc-
1'Ji, oi 'iie ,''.i''i i.i.olesI oh lne p"ni,c
, - -: :t ~ 90 " ~
,I ~ 1'|.',. Va 90 80 ;" 90 ','teo l'I
.,.'. ,J'.: Pe ,I ". ~, ~ ''
~. ~. 80. etc SOC CO.,, ~ y. ~
tir ',i:o anu ",1
l'.,i -, pel oeia.'' "o'i''s, "eins p"s'ple
Il H..
'N"il"oie loI .ile investment Vi surplus
iese"''I "lIiioaL a, 'no pay liienI oi prem,
'n'n' .nt'5' 1io'e ooi'''S e..n oe Iuhueu
tIo' q. a. .i h r",o ;.,, n'eies. ti'e 1ian
INV! ~" nr"i' "e'.I ni'ii III. oe,':t'-
~ VI .i,o .Ils .heasui' aHtI 10 'es'S'a'loi'
'.'t'o''hs 'n'"i - oes'i""i9'
REDUCING THE REVENUE.
T.. ,..o,, ..
+b ,,s; i, :; of ~ ~. 'n'|
.ie ,' poari's 5.; v, Wv .1n'uis ii"s peSn 80
pi,;ar't ~. ooS .'Hi, H.. I',n !G"i "r 10
~ =, =, ,h ''.,". . ~, ~ F.,'H % ~
MA .,.s ,,,',I,a,,,,d ~.
,,ns+ ,,a,, nv, ,.aar ;nn'r,s'. ~, ,.,,,+
nf -. ad,ot.;o,, ~; 49,, ,>,,Ii; 1t,t .1
;ts hr.1nn nf ;nterns+ a,,J bona,,.a' ~
tka r,n;J in.raoso Of n,,r ,'n,'uroti~', @ l.,
1Sfn ms, n,;,r IA tba ;nStitnr;on of ,,,,.
internal revenue system o,r n,nuIation
hut slinht1y- exceeded o0 OO6 oo0 Hv
the census of 1880 it is now found to
exceed 50 900 600. It is estimated that
even if the animal receints and eynendi-
tures should ceu,inue as at nrasent the
entire debit cou,d he naij in ten vears
In view however of tie beayy load of
taxation which nur peonle have already
horne we may well consider wbethcr i
- MOI tue paw oi "iSuo'i 70 reduce 'iie
,,-,,.,,,1t ,,t H. do,,. '''''' q '''N
i'' r. .,>'.,, WV .i,o. a.. .; L.,
,;,.oi ,,,!'a,, t,a ,',l,, ;,,.i,. 90
,,,',,,a ''a,e,a liz ai: r.d,,, .r;n ',s ] ],".
ar"m hnr,Ion and tI,n+ ~. ;l'a
=: ~ ';-' - ~ ' ~, ,,',:'
~ -; wv. ~ ~
~ ''''' '''~' w ''''' 49,.
.ii'i (, Soiio"i "iiii .iie 'C'l G''!s III
80 . ...' .ooil.'pI o4 'I' me-
h"a l,"a =; ;.e 49,. s|n, '" J "po" ~
t:,,.S ~ 80, 80 ,o' .'is' 1'''' "po'i
eycept. also. the special tax upon the
manufacturers OF and dealers in such ar
ticles.
The retention of the latter tax is dssir-
able as affordng the officers eff the Gov
crnment proper supervision of these
articles for the prevention of fraud. |
agree with the Secretary Of the Treas
ury that the law imposing stamp tax
upon matches. proprietary articles. play
ing cards. checks and drafts NAV with