New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-12-05
THE NATIONAL GOVERNMENT.
WHAT is SAID OF THE MESSAGE.
SOME OF ITS RECOMMENDATIONS WHICH MEET
WITH REPUBLICAN FAVOR.
rrr rn IN pu To THE TRIRUNE,l


WITH REPUBLICAN FAVOR
[BY TELEGRAPH THE TRIBUSE.l
WASHINGTON Dec. Awhile it is too early, per-
haps to hazard guess as to what action either
house will take upon the suggestions in the Presl-
dents message regarding the National finances, IL
is safe to say that on the whole they are looked
upon with flavor by considerable number OF Re
publicans in both branches of Congress. Especially
true is this of the suggestion in regard to the app
cation Of a portion, at least, of the sur
plus revenue to strengthen the Navy
and to construct coast defences.
"Why in our present condition." said promi-
nent member of the Senate Finance Committee to-
day, "the petitest nation might sass us with in-
punity and we would not be able to sass back.
The present state of affairs is disgraceful. The
Presidents recommendation has my heartiest ap-
prevail and it really ought to receive the serious
and immediate consideration of Congress" The
opinion expressed by this Senator was shared by
numaer of his colleagues who all deplored the III
efficiency of the Navy and the totalack of proper
system of coast defences.
A reduction of internal revenue taxes seems to ind
favor, as far as the Republican Senators are con-
cerned only in the case of tobacco. Many seem to
be of the opinion that it ought to be abolished
altogether while others deprecate so radical ana
sudden change. They prefer to see the tax iow-
cred by degrees and not done away at one sweep.
Regarding the Presidents recommendations
for avoiding the dangers of a contraction or
the currency which would inevitably follow
the retirement of the three per cents and cnsequent
unwilingness of the banks to renew the deposit OF
bonds to secure the circulation of their cur
rency, the opinions seem to be divided. Ihcsa
Senators whose knowledge of the subject gives
their views particular weight incline to believe that
law should be enacted repealing the tax on circu-
ation and permitting the banks to issue notes Tor an
amount equal to 90 per cent of tho market value
instead Of as nOw the face value of their deposited
bonds as recommended by the President and the
Secretary of the Treasury.
The other plan proposed that of issuing new bonds
having many years to run bearing low rate OF IN
terest and exchangeable upon specified terms for
those now outstanding, has many advocates who
urge its adoption upon the grounds of greater sim
plicity, though they admit that it would entail also
The feeling that the trade dollar must
pin INTRODUCED in boP the rrSTdts ss9dts for thss
recOnage of the silver dollar and all fractional cur
rency. increasing the weight of the latter to the
proper standard, and abOishing the nickel o,cent
piece, substituting therefor one OF silver, anu 1onS
pieces, replacing them with nickel COINS. eenaIor
Morrill, is also understood to favor the recommenda,
tion of the President that trade dollars be received
NV the Treasury and at the mints as bullion at
small percentage to be paid by Congress, above the
cnrrent market price of silver of like tineness.
further consolidation OF internal revehued a coz,
able, aud is likely TO receive prompt attention III
the Senate. . :. .5 o.. .
matter where it can show the sincsrity rin Vi un'
partys professions to economy, nobody OF course
can foretell.