The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1882-12-13

thaE the n0Bus 0f4fae natlsn bearing
thtee per cent. interest can be success
/ fully laced. He aggregates the amount
of interest it will require To pay the
| four and four and halfs, if they re-
main outstanding until maturity, and
concludes that wise statssmanship
| ought to find out some means OF escape
| from the burdens of such heavy drafts
| upon the Treasury on account of in
| terests. He recommends no specific
plan, but, if some portion of the bonds
are not funded, favors any modification
of the la%, so hat National banks may
in some way have the advantage of tire
premium on such bonds as are he'd by
the United 5. at Treasu err to secure
their circulation
The Tariff.
Touching the tariff, the President re-
news his recommendation of last year,
tn the exist ny laws need revision He
expresses the hope that tie labors and
the report of The Tariff Commission
may be so enlightening as to facilitate
Congress in dealing with the subject.
The President also renews his recon-
mendatiOn for the early retirement of
the silver certificate, on the ground that
they form an unnecessary addition to
the paper cure cy, which he thinks |
can be supplied in sufficient amounts to |
meet the demands of trade by the |
National banks.
Gold Certificates
An interesting clause of the message
is voted to the gold certificates. Of |
the issue authorized by the act of July |
IL, -SS2, $l3S, 000, 900 has been ordered |
printed for issue up to November |
S21 100, 900 had been issued, AID $14,- |
927 900 are held in the vaults Of the |
several United States Treasures, |
leaving a tually outstanding $6, 962, 280 |
Up to November last there had been |
coined under the act of February %, |
1878, $128, 329 $50 standard silver dol |
lars, OF which 500 COG, 1892 remain in the
Treasury vaults, and $35, 323, 498 are in
circulation. The President favOrs the
repeal of the law hich requires fixed
coinage for each month, and recon-
mends that it be left to the discretion of
the Secretsrv of the Treasury.
National Banking System.
A luding to tue National banking sys-
tenn, the President directs attention to |
the fact that up to October 81 last over |
10 banks had been organized with an
autho lied capital of $15, 767 800, and |
to which there has been issued circu- |
lating notes aggregating over $6, 00O, 600. |
The total number of National banks is |
nearly $500. Since the passage of the |
&C of Congress authorizing National
banking associations To continue their
corporate existence, Rore than fifty |
banks have reorgan zed.
In reviewing the report of the
Postofice Department, |
The President calls The special attention
of COngress TO the reductions in the |
cost of the postal service for the last |
fiscal year The Star-route service, it |
is estimated, will cost for the fiscal year
SO, 800, 900, which is NOR. than 500, 900 |
less than the cost of this service fer the |
last fiscal year, and $1,750, 900 less than
the amount appropriated for the current |
year. He favors the suggestions of the
Postmaster General for the establish |
ment of a postal savings system, and |
directs the attention of Congress TO nu-
merous recommendations calcul ted t. |
promote efficiency and secure economy |
in the postal service. For the next fiscal |
year the receipts are estimated in round |
numbers at $50, O00, 600, and The expen-
ses at SAG, 900, 900, an estimated excess |
of re eipts over expenditures of $4,- |
600 000
The Var Department.
That portion of the message which
relates To the War Department is of in |
terest chiefly because of the concur
renee by the President in the views of
the Secretary touching an increase of
the army and the cdrtailment of appIo- |
priations tor public works. the Presi-
dent adv seS Ongress that of the
amour appropriated in the last river
and harb0r appropriation bill there re-
mains on hand a large unexpended bal
ancc, which could not be applied during
the year because of the late daY at
which these amounts became available.
Proceeding on the heory that taxation
is to be reduced, the President joins
with the Secretary OF War in the hope
that Congress, fer the next fiscal year,
viii! make no appropriation on account
of rivers and harbors, except in so far
as may be necessary 10 prosecute work
already begun, and for which the APP
propriations will have been exhausted
at the end OF the fiscal year.
Nary Department.
The operations of the Navy Depart
ment are very briefly reviewed. The
attention of Congress is invited to the
report of the Board of Advisors of the
Navy, in various recommendations adj
vanced to promote its efficiency. The
President cOncurs with he Secretary of
the Navy in his recommendations for
placing the navy on better footing,
both as TO ST Ups and armament. He
also indnrses the recommendation that
the Revenue Marine and Life-saving
Service and Coast Survey he transferred
from the control of the Treasury De-
partment to the Navy Navy DEPART
oc a Af hInIn0 under q
single head all similar services. He also
states that since the adjournment of
Congress board has been APP ointed
which is now engaged in an investiga-
ton of the circumstances attending the
loss of the Arctic steamer Jeanette
also the appointment of a commission
to inspect the various nay-y-yares now
established and TO report upon such as
can be dispensed with without detri-
ment 10 the public service
The Interior Department.
The policy of the Secretary of the |
Interior with regard 10 Indian affairs
meets the Presidents approval. He |
urges that such treatment of the In
diars as will tend to civilze them should |
be encourage, and calls. attention to
the firm and yet humaniZing influences |
which have been thrown about them |
during the past year. resulting in an ex |
cepti nal season of freedom from tur
bal nee. The Importance of law to |
allow the Indians TO bold their lands in
severalty is also urged, on the ground !
that it would best tend to promote the |
welfare and permanent advancement of |
the Indians
Suppression Of Polygamy.
Thhe President congratulates Con- |
gress upon the passage of last seasons |
law for the suppression of polygamy in
the Territory of Utah. The Commits
sioners appointed under the law have
been engaged in their labors in Utah,
and have made commendable progress. |
There were, and remain, obstacles of
no mean order to be overcome, which |
the President hopes may disappear with !
out occasion for more stringent legisla-
ton The failure of the pc pie of that