The Columbus journal., 1884-12-10

silk and its manufactures, $49, ,949, lbs {;
coffee, $49, $50, ,7O5 iron and steel and
manufactures thereof, SAL ,643, 500 ::
chemicals, s3S, ,464 ,965; flax. hemp,
jute and like substances and man
ufactures thereof, $33, ,463 1893; cotton
and manufactures of cotton, $50, ,454, =
476; hides and skins, other than fur
skins, 500 ,350,906.
l concur with the secretary of the
treasury In recommending the imme-
diate
SUSPENSION OF COINAGE
of silver dollars and the issue OF sil-
yer certificates. This is a matter TO
which in former communications
have more than once invoked the at
tentiOn of the national legislature. 1t
appears that annually for the past six
years there have been coined, in COM
pliance with requirements of the Act
of Feb. %, 1878, more than twenty
five million silver dollars. The num-
Der outstanding is reported by the
secretary to be nearly one hundred
and eighty-five million, whereof but
little more than forty million, or less
than % per cent are in actual circula-
ton. The mere existence of this fact
seems to me to furnish of itself a
cOgent argument for the repeal of the
statute which has made such fact pos
sible, but there are other and graver
considerations that tend in the same
direction. The secretary avows his
convictions that unless this coinage
and the Issuance of silver certificates
be suspended, silver is likely at no
distant day to become our sole me-
tallic standard. The commercial dis
turbance and the impairment of
national credit that would be thus
occasioned can scarcely be over esti-
mated. l hope that the secretary g
suggestions respecting the withdraw
al from circulation of the One-dollar
and two-dOllar notes will receive
your approval. 1t is likely that a
considerable portion of the silver now
incumbering the vaults of the treas
ury might thus find its way into the
currency.
AS in his message of 80, the presi-
dent recommends the abolition of all
excise taxes except those on distilled
spirits.
GOVERNMENT BONDS.
More than $lOO,OOO,OOO of the three
per cent bonds have been redeemed
the past year. Those outstanding
amount to little over 100000, ,OOO
one fourth of which will be retired
through the operations of the sinking
fund during the coming year. How
to avert the contraction of the cur
rency caused by their retirement is a
question of constantly increasing i'm
portance. The President recon.
mends a bill permitting the issue, by
National banks, Of notes equal to the
face value of deposited bonds.
INTERNAL IMPROVEMENTS.
The amount drawn from the treas
ury during the fiscal year was SO, 22S,-
703 81, leaving a balance of $3,ll2,-
5SO.63.
DEFENSES.
The importance of protecting i'm.
portant cities on the seabOard is set
forth. $G0,OOO,OOO is the estimated
cost of proposed defenses, with an
immediate appropriation OF one-tenth
the sum as commencement.
MORMONIsN AND POLYGAMY.
The report of the Utah Commission
will be read with interest 1t dis.
closes the results of recent Legislation
looking to the prevention and pun.
ishment of pOlygamy in that Terri.
tory. l still believe that if that abom.
Unable practice can be suppressed by
law, it can only be by the most radi.
| Cal legislation consistent with the
restraints OF the Constitution. again
recommend, therefore, that Congress
assume absolute political control OF
the Territory of Utah, and provide
for the appointment OF a commission
with such governmental powers as in
its judgment may Justly and wisely
be put into their hands.
MORE ABOUT FOREIGN TRADE.
In the course of this communica-
ton reference has more than once
been made as 10 the policy of this
Government as regards the extension
of our foreign trade. Itseems proper
to declare the general principle that
should, in my opinion, underlie our
national efforts in this direction. The
main conditions of the problem may
be thus stated: We are people en-
gagged in mechanical pursuits, and
fertile in invention. We cover a vast
extent of territory rich in agricultural
products, and in nearly all the raw
materials necessary for successful
manufacture. We have system of
productive establishments more than
sufficient to supply our own demands ;
the wages of labor are nowhere else
so great; the scale of living of our
artisans classes is such as tends to
secure their personal comfort and the
development of those higher morals
and the intellectual qualities that 90
to the making of good citizen; our
system of Tax and tariff legislation is
Welding a revenue which is in excess
of the present needs of the Govern
ment.
These are elements from which it is
sought to devise scheme by which,
without unfavOrably changing the
condition OF the wOrkingmen, our
merchant marine shal! be raised from
it's enfeebled condition and new mark
cts provided for the sale beyond our
borders of the manifold fruits of our
industrial enterprises. The problem
is complex and can be solved by no
single measure of innovation or re-
form. The countries Of the American
continent and the adjacent islands are
for the United States the natural
market Of supply and demand. 1t is
from that we should obtain what we
do not produce in sufficiency, and it is
to them that the surplus productions
81