Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1883-12-05

is probably feasible; one is, the issuance O
new bonds having many years to run. .besrin;
low rate of interest and exchangeable upol
specified terms for those now outstanding
the other course, which commends itself Il
my own Judgment as the better, is the enact
ment of Law repeating the tax on circulation
and permitting the banks to issue notes
for an amount equal to 80 per cent on tn,
market value instead of as now the face
value of their deposited bonds. l agree
with the Secretary in the belief that the sdop
ton of this plan would afford the necessary
relief.
The trade dollar was coined for the par
pose Of traffic in countries where silver at its
value was ascertained by the weight and
fneness. 1t pever had a legal tender quality
Large numbers of these coins have entered
however, into the volume of our currency by
common consent. Their circulation in domes
tic trade has now ceased, and they have thus
become disturbing element. They should
not be longer permitted to embarrass ouI
currency system. / recommend that provis.
ion be made for their reception by the treas
ury and the mints as bullion at a small per-
centage above the current market price of
silver of like 6neness.
The Secretary OF the Treasury advises a
consolidation of certain of the customs dis
tricts of the country, and suggests that the
President be vested with such power in re-
lation thereto as is now given him as TO col
lectors of internal revenue bv section 3l4l
of the revised statutes. The statistics
on this subject, which are contained
in his report, furnish of themselves a
strong argument in defense of his view. Al
the adjournment of Congress the number of
internal revenue collection districts was l26,
BY executive order dated June 25. 1888, di-
rected that certain of those districts he con-
solidated. The result has been a reduction
of one-third their number, which at presen,
is but SO.
WAR DEPARTMENT.
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
condition of our Indian tribes. raid
from Mexico into Arizona was made
by a small party of Indians which
was pursued by Gen. Crook into
the mountains from which it had come.
1t is confidently hoped that serious outbreaks
will not again occur, and that the Indian
years disturbed the West will re-
main in peaceabe submission.
again call your attention to the present con-
dition of our extended sea coast, upon which
are so many large cities whose wealth and
Importance would in time of war invite
attack from from modern armored
ships against which exististing de-
fensive works could give no ade-
quate protection. Those works were built
before the introduction of modern heavy
rifed guns into maritime warfare, and if they
are not put in effective condition we may be
subjected to humiliation by hostile powers
greatly inferior to ourselves. As germane to
this suject call attention to the Importance
of perfecting our submarine torpedo defense.
The board authorized by the last Congress
to report on the method which should
be adopted for the manufacture of
heavy ordinance adapted to modern
warfare, has visited the principal iron and
steel WORKS in this country and in Europe.
1t is hoped that its report will soon be made
and that Congress will therefore be disposed
to provide suitable facilities aud plans for
the manufacture of such guns as are now
imperatively needed.
On several occasions during the past year,
officers of the army have, at the request
of the State authorities, visited
the military encampments for inspection of
the troops. From the reports of these Of
ficers, am induced to believe that the en-
of State militia organizations,
by the national government, would be follow
ed by very gratifying results, and would af.
ford it, in sudden emergency. the aid of a
large body of volunteers educated in the
performance of military duties.
The NAVY.
The secretary of the navy reports that under
the authority of the acts of Aug. 8 1882, and
March Sd, 1888, the work of strengthing our
navy by the construction OF modern vessels
has been auspiciously begun. Three cruisers
are in process of construction; the Chicago
of 1900 tons displacement, and the Boston
and Atlanta each of 2500 tons. They are to
be built of steel with the tensile strength and
ductiltv prescribed by law, and in conibipa-
tion of speed, endurance and armament are
expected to compare favorably with the best
un-armored war vessels of other nations.
A fourth vessel, the Dolphin, is to be
constructed of similar material and
is intended to serve as feet despatch boat.
The double turreted monitors, Puritan, Am
phitrite, and Terror, have been launched on
the Delaware river, and contract has been
made for the supply of their machinery. A
similar monitor, the Mopadnock, has bee n
launched in California. The naval advisory
board and the Secretary recommend the COM
pletion of the monitors, the construction of
four gun boats. and also of three additional
steel vessels like the Chicago, Boston, and
Dolphin. As an important measure of ma
terial defense, the Secretary urges also
the immediate creation of an interior
coast line of water ways across
the peninsular of Florida, along the
coast from Florida to Hampton Roads, be-
tween Chesapeake Bay and the Delaware
river, and through Cape Cod. feel bound
to impress upon the attention Of Congress the
necessity of continued progress in reconstruc-
tion of the navy. The condition of the pub
lie treasury, as I have already intim ated,
makes the present an auspicious time for
putting this branch OF the service in a state
of efficiency. II is no part of our policy to
create and maintain navy able to cope with
that Of the other great powers of the world.
We have no wish for foreign conquest, and
the peace which we have long enjoyed is in
no serious danger Of interruption. But that
our naval strength should be made adequate
for the defense of our harbors, the protection
of our commercial interests and the main
tainance of our national honor, is PROPOSE
tion from which no patriotic citizen can
withhold his assent.
POSTAL MATTERS.
The report Of the Postmaster General cor
tains gratifying exhibit of the condition and
prospects of this interesting branch of the
public service committed to his care. 1t ap-
pears that in June 80, 1888, the
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