St. Landry democrat., 1883-12-15
THE NATIONAL 4, DEBT.


Congress at its last session recommended
that all excise taxes be abolished except those
relating to distilled spirits, and that substan-
tial reductions also be made in the revenues
from customs. A statute has since been enact
ed by which the annual tax and tariff receipts
of the Government have been cut down to the
extent of at least $50, 00D,000 or SCI, 600.
While have no doubt that still further reduc-
tons may be wisely made, do not advise the
adoption at this session of any measures Tor
large diminution Of the national revenue Inc
results of the legislation OF last session nave
not as yet become sufficiently apparent TO
Justify any radical revision Or sweeping modl,
fications of existing law. In the interval
n Mare eapse ean be dentey as
certained, portion at least of the surplus
revenues may be wisely, applied to the long
neglected duty OF rehablhtatlns our na
ton and providing coast defenses for the
protection of our harbOrs. This Is matter TO
which l will again advert.
NATIONAL CURRENCY.
Immediately associated with the financial
subject just discussed'is the important ques-
ton What legislation is needed regarding the
national currency? The aggregate amount
of bonds now on deposit in the treasury TO sup
port the national bank circulation is about
$3.50 GOO, coo. Nearly 81 100000 of this amount
consists of per cents, which, as already stat
ed, are payable at the pleasure OF the govern
ment. and are likely to be called in within less
than four years unless IN the meahtlme' me
probable effect of such an extensive retire.
ment of the securities which are the basis OF
the national bank circulation would be such
contraction of the volume OF the currency as
to produce grave commercial embarrass.
merits. How can the danger be obFlatedf
The most effectual plan, and one whose anopr
ton at the earliest practlcaole oppqrtunit sy,i
Gated, If the revenues of the next four years
shall be kept substantially commensuIato
with the expenses. the volume OF c1rcnlati ,
will not be likely to suffer any material d1s-
turbance; but, on the other hand, II there
shall be great delay In reducing taxation, e
will become necessary either TO suDstlIuIe
some other form of currency in place OF the
national bank notes or to make important
changes in the laws by which their clrcuiatlon
is now controlled. In my Judgment the latter
course is preferable. commend 70 your ut,
tention the very interesting and thoughtful
suggestions on this subject which appear N II
the Secretary's report The objections which
he urges against the acceptance OF otnef-
securities than the obligations of Govern
ment itself as foundation for national bank
circulation, seem to me insuperable.
THE TRADE DOLLAR
was coined for the purpose Of traffic in coun-
tries where silver passed at its value, as ascer-
tanned by its weight and business. 1t never
had legal tender quality. Large numbers OF
these coins entered, however, into the volume
of our currency. By common consent their
CIRCULATION IN dGmestlc .raae h d;stphne Gle.
ment. They should not be longer permitted
to embarrass our currency system | recon-
mend that provision be made for their reeep.
ton by the Treasury and minis as bullion, at
a small percentage above the current marker
price of silver of like fineness.
CUSTOMS DISTRICTS
The Secretary of the Treasury advises a
consolidation of certain Of the customs DIS
tricts OF the country, ana suggests 1nat me
ton thereto as is now given him in respect TO
collectors of internal revenue by section ], l4l
of the Revised Statutes. The statistics on
:o1~ 1fnirN h
furnish of themselves a strong argument in
defense Of his views. At the adjournment o.
Congress the number Of internal revenue col
lection districts was l26. by executive orders
dated June 25 1883, l directed that certain OF
these districts be consolidated: the result
has been a reduction of one-third their NUM-
Der, which at present is but elghty-three.
INDIAN TRIBES.
From the report of the Secretary of War it
will be seen that in only single instance has
there been any disturbance of the quiet condi-
ton of our Indian tribes-a raid from Mexico
into Arizona by small party OF indians, which
was pursued by Gen. Crook into the mountain
region from which they had come. 1T Is con-
tidently hoped that serious outbreaks Will not
again occur, and that the Indian tribes which
have for so many years terrified the West will
remain in peaceable submission.
SEA COAST DEFENsEs.
I again call your attention to the present
condition of our extended sea coast. upon
which there are so many large cities whose
wealth and Importance to the country would,
in time of war, invite attacks from modern
armOred ships, against which our existing de-
fensive works could give no adequate protec-
ton. These works were built before the IN
PRODUCTION of modern heavy rified guns into
maritime warfare. and It they are not put IN
an efficient condition we may easily be sub
jected to humiliation by a hostile power great
iy inferior to ourselves. As german to TINS
subject / call your attention to the import
ance of perfecting our submarine torpedo
1afa IA
Congress to report on the method which should
be adopted for the manufacture OF heavy ord
nance adapted to modern warfare, has visit
ed the principal iron and steel works in this
country and Europe. 1t is hoped that its
report will soon be made and that Con-
gresS will thereupon be disposed to provide
suitable facilities ana plans Tor the manilfac-
ture of such guns as are now imperatiyely
needed.
On several occasions during the past year
officers of the army have, at the request OF the
State authorities, united their military en-
eampments for inspection of the troops From
the reports of these officers, l am Induced to
believe the encouragement OF the State mill.
tia organization by the National Government,
would be followed by very gratifying results
and would afford it in sudden emergencies the
aid of large body of volunteers. educated in
the performance of military duties
j. THE NAVY.
The Secretary Of the Navy reports that I'M
der the authority of the acts Of August 5, 1882
and March 8, 1888, the work of strengthening
our navy by the construction of modern yes
sells has been auspiciously begun. Three
cruisers are in process of constructions; the
Chicago of 45O0 tons displacement, and the
Boston and Atlanta, each of $500 tons. They
are to be built of STEEL, with the tensile
strength and ductility prescribed by law, and
combination of speed, endurance and arm
ament are expected to compare favorably
with the best unarmed war vessels of other
nations. A fourth vessel, the Dolphin, is tc
be constructed of similar material and is in
| tended to serve as feet dispatch boat. The
| double-turreted monitors Puritan, Amphitrite
and Terror have been launched on the Della
ware River, and a contract has been made fol
| the supply of their machinery. a similar
monitor, the Monadnock. has been launched
| in California. The Naval Advisory Board ant
| the Secretary recommend the completion Of
the monitors, the construction OF four gun
boats and three additional steel vessels like
| the Chicago, Boston and Dolphin, as an i'm
portant measure OF defense. The Secretary
oil hn i'm fea creation Of