Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1881-12-09

THE RETIREMENT OF SILVER CERTI-
FICATES.
Iapprovc the recommendation of the
secretary of the treasury, that provi-
sion be made for the early retirement
of silver certificates and that the act re-
quiring their issue be repealed.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
SOC 100000 of them are now Outstaud-
ing. They form an unnecessary add.
ton to the paper currency, "a sufficient
amount of which may be- readily sup
piled by the national banks.
THE COINAGE OF SILVER DOLLARS.
In accordance with the act of Fcbri-
AIRY 2S, 1873. the treasury department
has monthly caused at least - OOO, 900 in
value of silver bullion to be- coined into
standard silver dollars ~llO.mO.OOO
of these dollars have been already
coined. while only about 81 10000 are
in circulation. For the reasons which
he specifics. | concur in the sccrctary's
recommendation that the provision for
be repealed, and that hereafter
only so much be coined rs shall be
necessary to supply the demand. The
secretary advises that the issue of
gold certificates should not for the pres
ent be resumed. and suggests that the
national banks may properly be forbid
den by law to retire their currency. cX-
cept upon reasonable notice of their i'll
tcntion so to do. Such legislation
would seem to be Justified by the
recent action of certain banks on the
occasion referred to in tho >ecre-
tary's report. OF the Sl5.OOOO 900 of
fractional currency still outstanding,
only about SSO.OOO has been redeemed
the past year. The suggestion that this
amount may properly be- dropped from
future statements of the public debt
seems worthy of approval. So also does
the suggestion of the secretary rs to the
adyifbility Of relieving the calendar of
4 the United States courts in the southern
district of New York, by the transfer to
another tribunal Of the numerous suits
there pending against collectors.
TIE CUSTOMS REVENUE.
The revenue from customs for the
past fiscal year was Sl9S ,lj9, 616.O2, an
increase of Sll OBJ GIL AZ over that Of
the year preceding. Sl3S ,09S ,j62.39 of
this amount was collected at the port of
New York, leaving $50 ,25l 1853 as the
amount collected at all the other ports
of the country. OF this sum SIT ,977, :
1873 was collected on sugar, melada
and molasses; ST ,2Sj ,624.7S on wool
and its manufactures; 81 .462 ,53i.4 on
iron and steel, and manufactures there
! of: $40 .03s .66j.Sl on manufactures of silk;
! Sl0, S25 ,ll5.2l on manufactures of cotton
! ST, 400 .643.0 4 on wines and spirits, max.
ing total revenue from these sources Of
| Sl33 ,0j9,720. The expenses for cOllec-
| ton during the past year were S6,4l9,-
| $500, an increase over the preceding
| the increase in the revenue from Gus
toms over the preceding year the gross
value of the imports, including free
| goods, decreased over So 900 900. The
| most marked decrease was in the value
Of manufactured wool, STA ,023 ,6S2,
and that Of scrap and pig-iron, Sl2,Sl0,-
! GIL. The value Of imported sugar on
the other hand showed an in
crease of a. 49, "A, of steel rails - ,345, :.
52l, of barley - = j4 ,20i. of steel in bars,
ingots, etc, 81 ,62O.0i6. Contrasted with
the imports during the last fiscal year
the exports were rs follows: Domestic
merchandise, SSS3 ,Q2j. 947; foreign
merchandise, SIS. 45l 500; total, S9O2,
81 ,34d; imports of merchandise. sG42, 3.
G64 Cos; excess Of exports over imports
of merchandise, S259,7l27lS; aggregate
of exports and imports. 81 ,j4j ,O4l pa,
Compared with the previous year there
was an increase Of SGT, I3S ,6SS in the
value of exports of merchandise, and
a decrease of S25 ,29O,llS in the
value of imports. The annual average
of the imports of merchandise over eX'
ports thereof for ten years previous to
June 80, 1873, was Sl04 SOC .922, but fol
the last six years there has been an ex
cess of exports over imports of mer
chandise amounting to 81 ,lS0 Cos ,l03
an annual average of Sl96 ,77SOl7. The
special value of the exports of domestic
merchandise was S37G,6l6,474 in
1870 and 1888 1926 47 in 1881
an increase of S507 300 ,374, OF
1876 per cent. The value of imports
was S435, 9jS ,40S in 1870 and S6i2 ,664 :
Cos in 1881, an increase of $50, 67S 30
or forty-seven per cent. During each
year, from 1862 to 1879 inclusive, the
exports Of specie exceeded the i'm
ports. The largest excess of such eX
ports over imports was reached during
the year 1864, when it amounted tC
500 $50 .929 but during the year ended
June 30, 1880, the imports of coin anC
bullion exceeded the exports by So,
S9l ,39l, and during the last fiscal yeal
the excess of imports over exports wa;
S9l ,lGS $50.
THE LIQUOR TAX.
1t is, perhaps, doubtful whether the
immediate reduction of the rate O.
taxation upon liquors and tobacco i
advisable, especially in view of thu
p drain upon the treasury which mus
attend the payment of arrears of pen
sions. \ comparison, however, Of thu
amount of taxes collected under tn,
, varying rates of taxation which have a
different times prevailed suggests tn,
intimation that some reduction ma,
soon be made without material diminu
ton of the revenue.
REVISION OF TARIFF.
{ The tariff laws also need revision; bu
that due regard may be paid TO tn,
conflicting interests of our citizens, i'm
Dortopt obonpng should no mo1a will