The Sedalia weekly bazoo. [volume] (Sedalia, Mo.) 187?-1904, 1884-12-09
SILVER CERTIFICATES


stand, the commercial disturbance
and the impairment of the national credit
that would Dc thus Cccssioued can scarcely
be overestimated. hope that the secre-
tsry's suggestions respecting the with
drasal from circulation OF the one and
two dollar notes will receive your approval.
1t is likely that considerable portion of
the silver now In the vaults of the treas
ury might find its way into currency, while
trade dollars have ceased, for the present
at least to be an element of active disturb
ance in
OUR CURRENCY SYSTEM.
Some provision should be made for their
surrender to the government in view of the
circumstances under which they
were coined and of the isct that they
have never had legal tender quality
There should be offered for them but
slight advance over theI. bullion value
The secretary, in the course of his report,
considers the propriety Of beautifying the
designs Of our sub-Ordinsry silver coins,
and of so increasing their weight that they
may bear the due ratio Of value of stand
ard dollars. His conclusion in this regard
are cordially approved in my annual mes
sage OF 1857. L RECON- mend the abolition
OF all excise taxes excepting those
RELATING To DISTILLED SPIRITS.
The recommendation is now deemed In
case these taxes shall be abolished the
revenues that will still remain to
the government will in my opinion
not only suffice TO get Its reasonable expen-
ditures but viii afford a surplus large
enough to permit such tariff reduction as
may seem TO be advisable when the results
of recent revenue laws aud commercial
treaties shall have shown in what quar-.
tiers these reductions can be most judicIous-
ly effected. Que of the gravest OF the prob
lens which appeal to the wisdom of con-
gress for solution is the ascertainmeut
o; the most effective means of
INCREASING OUR FOREIGN TRADE
and thus relieving the depression under
which our industries are now laneuishing.
The secretary of the treasury ad-
vises that the duty of investiga-
ting this subject be entrusted in
the first instance to competent commits
sion. While fully recognizing the cOnsid-
eraIiOns that may be urged against this
course, | am, nevertheless, of the opinion
that upon the whole no other would be
likely TO effect
sPEEDIER OR BETTER RESULTS,
that portion of the secretary's report which
concerns the condition of our interest cam
not fail TO command your attention. He
emph aticslly recommends that as an in
centive 10 investment of American capital
in American steamship the government
shall be liberal paymen ts for mail trans
portstion or otherwise lends its active
assistance to individual enterprise and
dealers, his belief is that unless
that course be pursued our foreign Gerry
ing trade must remain as 1t is to- day, al
most exclusively in the hands of foreign
ers. One ph,se of this subject is now es-
pecially prominent In visw of the repesl by
the act of June rs, 1885, of all salutatory
provisions arbitrarily compelling Ameri-
can vessels to carry the mails to and from
the United States, as il is necessary to
make provisions to compensate the owners
of such vessels for performing that service,
after April 18th, 1885. 1t is hoped thai
the Whole subject will lead to the enact
menl of such measures for the revival of
our merchant marine as the wisdom of
CONGRESS MAY DEVISE.
The three per cent bonds of the government
10 the amount of more than 100000. 600
have, since nv last apnu.l, been redeemed
by the treasury. The bonds of that issue
still outstanding amount to little over
$500 ,OOO, 600, about one fourth of which
will be retired through operators of the
sinking fund during the coming yesr, as
these bonds still continue the chief basis
for their circulation of national banks.
The question how TO avert the contraction
al. h. hi
is one of constantly increasing importance
1t seems to be generally conceded that the
law governing this matter exscts from the
national banks excessive security, and that
upon their present bond deposits larger
circulation than is now allowed may be
granted with safety. i hope that the bill
which passed the senate at the last session,
permitting the issue OF notes equal 10 the
face value of deposited bonds, will COM
mend itself to the approval of the house
of representatives. In the expenses OF the
wsr department the secretary reports de-
crease of more than $4,000, 900, OF which
reduction of S5,600,0OO was effected in the
expenditures for rivers and harbors, and
$1,000, 600 in expenditures for The quarter
masters department. Outside OF the de-
partment the annual expenses of all the
army bureaus proper except possibly the
ordnance buereau) are substantially
charges which cannot be materially dimin-
ished without change in the numerical
STRENGTH OF THE ARMY.
The expenditures in the qusrtermaster's
department can readily be submitted to
administrative discretion, and il is reported
by the secretary of war that a. result of
exercising such discretion n reducing the
number of drausht animals in the army,
the annual eost of supplying and
caring for such animals is now
81 los, O8590 less than it was in 1882.
The reports of military commanders show
that the last year has been notable for its
entire freedom from Indian outbreaks. in
defiance of the presidents proclaim alton of
July LIST 1884, certain intruders sought to
make settlements in the Indian territory.
L., H. Iof oah-