The Bad Lands cow boy. [volume] (Little Missouri, Dakota [i.e. N.D.]) 1884-1886, 1884-12-11

Of coinage Of silver dollars and of the issu-
ance OF silver certificates, and this is o mat
ter: to which, in former communities lions i
have more than once invoked the attention
Of the national Legislature. Itappears that
annually for the past six yea5s there have
Feb. 20, 1878. more than twenty seven mil !
lion silver dollars, and the number outstand-
ing Is reported by the secretary to be nearly
one hundred and eighty Ave million, whereof
but little more than forty million, or less
than % per cent, are In actual circulation
me to furnish of itself oogent argument
for the repeal Of the statute which has made
such q fact possible. But there are other
and graver ,oonside raHons that tend in the,
same direction. The secretary .avcws his
conviction that unless this coinage and
suspended, silver is likely q ut L no
distant day to- become our sole metallic
standard The commercial disturbance
and the impairment Of the national credit
that woulf be thus accustomed can scarcely
be overestimated I hope that the seoretary's
circulation of the 81 and 81 notes Will re-
ceive your approval It is likely that con-
siderable portion of the silver now incum-
boring the vaults I'M the treasury might thus
find its way into the currency While trade
dollars have ceased, for the present at least,
to be an element OF active disturbance In our
currency system, some provision should be
made for their surrender to the government.
In view of the circumstances under which
they were !ooined, and of the fact that they
have never had q legal tender quality, there
should be offered for them only a slight nd
vance on their bullion value The secretary,
In the course Of his report, considers the
propriety Of Identifying the designs Of our
subsidiary silver coins, and;of SO Increasing
their weight that they may bear due ratios
of value of the standard dollar. His como u
stons In this regard are cordially approved
Is rs zSt & TAXATION F 81 Y q
In my annual message of 1889 I recon-
menlHd the abolition Of all excise taxes ex-
cept those relating to distilled spirits This
decentralization Is now renewed In case
these taxes shall be abolished the reven ues
that will still remain to the government will
In my opiGinn not only suffice to meetits
reasonable ztAl ditures, but will afford a
duotion as may seem to be advisable when
the results Of the recent revenue laws and
commercial treaties shall have shown In
what quarters these reductions can ba most
judiciously effected One of the gravest Of
the problems which appeal to the wisdom of
CVASAoss 4o1 sUlutlUu IL buo 8SCoIbalulu6uG OF
the most effective means of increasing our
foreign trade, and thus relieving the depres-
sion In which our Industries siare now LAM
gushing: The secretary Of the treas
ury advises that the .;8duty Of 4 In
vestigating this subject be entrusted
sion While fully ogn1izing the consid era-
lions that may be urged against this course,
I am nevertheless of the opinion that, on the
whole, no other would he likely to effect
speedier or better resultA That portion of
the Z secretary d report which concerns
not fail TO command your attention. He en-
phatically ecommends that as an incentive
to the Investment of American capital in
American steamships, the government shall !
by liberal payments for mail transportation
or otherwise, lend its active assistance to In
diyidual enterprise, and declares his belief
that unless That course be pursued, our
foreign carrying trade must remain as 1t to-
day, almost exclusively In the hands, of
foreigners One phase Of this SUBJECTS now
especially prominent 10 view of the repeal
BY the act Ct June 90, 1884, Of all statu-
can vessels to carry the mails to and
from the United Etatez 4 As it \ is
necessary to make proyiaion to compensate
the owners OF sneh Vessels for performing
that service after April. 1885, It Is hoped
that the whole sub ect will receive early con-
c3eoAtSo9oAA }4GtIU Gllo 0ldCbluSuU
such measures for the revival of our mer-
chant marine as the wisdom of congress may
devise Three per cent bonds of The. govern
ment to the amount of more than $780,
DOC, 600 have since my last annual message
been redeemed by the secretary. The bonds
Of that issue still outstanding amount to
Q little over 500. O00, Oe0. about one-fourth
of which will be retired through the opera
lions OF the sinking fund during the coming
year As these bonds still ntinue the chief
factor Of the circulation :of the national
banks, the questton how to avert theS con
I, traction Of the currency caused by their re.
tdrement 70 one Of constantly increasing i'm
portanoe. IGseems to be GENERALLY conceded
that; the law governing this matter exaots
from the banks excessive security; and that
on their present bond deposits q larger cir
G4laho4 than b now allowed may be granted
with per fectS safety. "a hope that The bin
which passed The senate ct the last session,
permitting the Issue Of notes equal to the
sface value Of deposite bonds; will commend
5itself sto the approval Of the house Of repre-
sentatiyek ssasss 5s.,9