The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1883-12-06

IatIts Whlcn are hppiea W our sfs-
ort to that course might not be barren
pf good results.
Finance md Revenue.
The report ~ the Secretary Of the Treasury
viycs a full and interesting exhibit Of the finan-
ri,l condition ~ the country; y shows that
!isc,l year ended June 81. 1853, amounted to
.3as, ,2s1, ,ssl.9a. whereof there was received
from the customs. s2lt.7os. .iocea' from
sales of public lands, t7,o,5.s6l42; from
lax nn circulation and deposits OF National
banks, sa.1li ,Mss5: from profits on the coinage
q bullion, deposits and aasays. -. s.s'.2.5i7;
2s7.bsl .95. For the same period the ordinary ex-
penditures were. for civil expenses.
2s for rn.lss dG,ssn ter on
for pensions, .s7sc4 for the military eStab-
lishmcnt- and arscnals, 4s,oil,asI.oJ; for the
naval establishment. including vessels and i'm
provoment. at navy yard, sl5.2,3,432.l7: for
buildings. lighthouses and collecting the
revenues, saa,o9a, ,4S273; for expenditures on &C.
count OF Distiet of Columbia. S,si7. .o2s.is: for
SOS 40, ,ls7.s.. Leaving anrplu. revenue of
la2,s7s,4t4l, which, with an amount
drawn from the cash balance in the
treasury OF sl,2a9,ai2s5 si3l.l7s, 75e. .a6--was
applied To the redemption OF the sinking fund.
and sA,ssa, 700 Of fractional currency. For the
sinking fund, ti6,s56.a6 of tn, funded lean Of
1891 were continued Mt 3t2 per cent, $65, ,3an.2j0
q the loan July and August, 1851, were con
ttnucd at ~ per cent: and f20,594 900 OF the
funded loan Of 1907, sl.4is,s5, OF the funded loan
OF 1881. s7ln,1so Of the loan Of February 1861,
SIS, the loan OF July and August 1851. s266. 500
1892 sa165o: OF b-2os OF 1861 slO,so0; Of 52os Of
1864, 1880; OF 5-2os OF 1888, $?,sOO: OF lo-4os
Of 1882, siss,sso; Of .onsols of 1865. i4osoo: 81
consos Of 1867, s2,s7ee Of con. eonsols q 1853;
refunding certifcate', sloa.loo; OF old demand
compound interest and other notes, sla,3oo.
Total, sl3s,i7s,756.9e
Inter nal Taxation.
There arc cogent reasons, however. why the
national Indebtedness should not he thus
fact that only by excessive taxation II such
rapidity attainable. In communication to the
Congress, at its last session, recommended that
all excessive take be abolished, except thos
relating to distilled spirits aad that substantial
reductions be also made In the revenues from,
customs. statute has since been enacted by
which tho annual tax and tariff receipts Of the
Government have been cut down to the extent
cf at least &50.O0o,oo1 or e6o,0CO,o00. While
have no doubt that still further reductions may
be wisely made. do not advise the adoption al
se 81 9
legislation of the last session Of Congress have
not az vet become sufficiently apparent TO justi-
~ any radical revision or sweeping modihca-
In the interval which must clapsc before the
effects Of the act Of March =. 1888, can be den.
nitely portion at least OF the surplus
,cysnnes may y se wisely applied to the lons
providing defcnscs for the protection o
our harbors. This Is q matter to which shall
again advert.
consolidation Of Revenue Districts.
The Secretary OF the Treasury advises con
solidation Of certain of tho customs districts o.
the country, and suggests that the President b.
vested with such power In relation thereto as Il
now given him bv Section 3.l4l OF the Revsct
Statutes. The statistics on this subject which ar
strong argument in defense Of his views. A
the adjournment of Congress the number o
internal revenue collection districts was 18
Bv executive orders. dated June Is, 1854,
directed that certain Of the districts be consoli
dated The result has been reduction OF one
third their number. which ut present Is bn
eighty-three.
From the report Of the Secretary OF War L
will be sen that in only a single instance ha.
quiet condition OF onr Indian Tribes rais
from Mexico into Arizona by a small party o
the mountain regions from which II had come
II IL confidently hoped that serious outbreak
will not again occur, and that the Indian tribes
which have for 80 many years disturbed th'
mission.
again call your attention to the present con
dition Of our extended sen coast, upon whicl
are 50 many large cities whose wcsltl
and importance to the country woul'
in time OF war invite attack from. mod
ern armored ships. against which on
protection. Those works were built before tn
introduction Of modern heavy rified guns Int
maritime warfare. and Ii they are not put In al
efficient condition we may easily I've subjected b
humiliation by hostile power greatly interic
to ourselves.
Torpedo Dcfcnscs.
AZ germanc to this subject, l call your atten
tion To the importance Of pcrfcctinR our snbma
rinc torpedo defenses. The board authorized b.
the last Congress to report on the method whic
should be adapted for the manufacture Q
heavy ordnance adopted 70 modern warfare ha
in this country and in Europe. II Is hoped tina
its report will he so made and that Congress wi
therefore he disrosed To provide suitable facili
ties and places tor the manufacture OF such gun
rs are now imperativcly needed.
The Army.
On several occasions during the past yea
officers of the army have. Mt the request Of tn
State authorities, visited their military On
campments for the inspection ct the troops
From the reports OF these officers, am induces
To believe that the announcement OF the Stat
militia organization by the national Governmcn
would he followed by very gratifying result
aid of \ large body of volunteers educated 4
the performance of military duties.
Naval AnAirs.
The Secretary Of the Navy reports thai
under the authority OF the acts q
Aug :. 1872, and March :. iss;
sttuction OF modern vessels has been auspl
cionsly begun. Three cruisers are in pfogres
of construction the Chicago. Of 500 tons dis
placement, and the Boston and Atlanta, each b
the tensile strength and ductility prescribed b
law. and, in combination Of speed. endnranc
and armament, are eSpectes, to compare favor
ably with the best unarmored war vessels of oths
nations. A fourth vessel, tho Dolphin, Is
he constructed Of similar material, an
Is intended TO serve IA fiect dispatch boat. Th
double larre,cd monitors. Puritan, Amplerit
river. and a contract has b sn made for the sur
PLY of their machinery. A similar monitor. tn
Menadnock. has been launched In Californi,
The Naval Advisory Board and the Secretar
! recommend the camrl ,tion Of the monitor.
the construction Of four gunhuats. and also q
three additional steel vessels, like the Chicag,
Rostcn and Dolphin. as an important measur
Of material defense.
National Currency.
Immediately associated with the financi,
subject just discussed Is the important question
What legislation is ncaded regarding the ma
tional currency The aggregate OF bonds no
on deposit In the treasury to support the nation,
hank crcnlat on is about $Ssu,o0o,oa. Nearl
$aoo, ,ooo. 900 Of this amounts consists Of n
cents. which. before stated. are payable at tn
pleasure of the Government, and are likely to |
called In within less than four years, unles
meantime, the surplus revenues shall be {.
minishcd. The probable effect OF such an G,
| tensive retirement Of the securities. which al
the basis OF the National bank circulation, ,woul
| bc such \ contraction OF the volume Of the cul
| rency as to produce grave conmer,i
| cmharrassmentS. How can the danger be ol
| viateds The most efieeiual plan, and one who's
| adoption at the earliest practical ol
portunity / shall heartily approve. hi
already been indicated. Ii the revenue
\ OF the next four years shall
| kept substantially commensurate with the e,
| penscs. the volume of circulation will not
| likely to suffer any material disturbance. Bt
| it, on the other hand. there shall be great della
| in reducing taxation, ii will become necessaI
| either to substitute some other torn of currel
| ~ in place Of the Nat onal bank notes ar
make important changes In tho laws by viii,
| their circulation Ii controlled. In my JndsmeI
| the latter course IL FAR preferable.
| l commend To your attention the yei
| interesting and thoughtful suggestions I
i this subject which appear In q
| Seerctafss report. The objections Viii,
/ he urges against the acceptance of any other y
| cnriti.s than the obligations of the Gosernnel
| itself a. foundation for national hank eircni;
4 tion seem To me insnperable. For ayerting n
| Threatened contraction two courses have hct
= suggested, either IT which Is probabl. feasibl
One l. the issuance of new bonds having mar
Years To run, bearing low rate Of intereat, al