Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1884-12-05

total exports of merchandise and specie,
SNOi ,Gl6,NG. Cotton and cotton manufilc-
lures included in this statement were
valued at sos ,gOu.ll3: brcadstulTs at sIG?.-
Oh, 10 provisions at Slli,IlG. jl5 and min
eral oils at SiI.lO2,2iS During the same
period the imports were as follows: Mer-
chandse, $G61 ,491 1913 gold and silver. s31.-
425,2G2 total, sos. l23,935.
The silver Dollar.
concur with the Secretary ofthe Treas
ury in recommending the immediate sus
pension of the coinage OF silver dollars and
of the Issuance of silver certificates
This is II matter to which in former com
munications have more than once in
voked the attention of the National Legs
for the past six years there
have been coined in compliance
with the requirements of the acts of
Feb. %, 1873, more than 27,OO0WO silver
dollars. The number now outstanding is
reported by the secretary to he nearly
SlS5,OOO,WO, whereof but little more than
10000, 900, or less than - per cent, are in
actual circulation, The mere existence of
this fact seems to me to furnish of itself
an argument for the repeal of the statute
! which had made such Il fact possible but
there are other considerations that tend in
the same direction. The secretary avOwS
that unless this coinage and the issuance
of silver certificates be suspended silver is
likely at no distant day to become our sole
metallic standard. The Ommcrcial dis.
turbancc and the impairment of the Ma
tiOnal credit that would be thus oCCaSiOncd
can scarcely be OvcrcStimatcd. | hope the
secrctary's suggestions respecting the
withdrawal from circulation of one dollar
and two dollar notes will receive your
approval. 1t is likely that II considerable
portion of the silver now incumbering the
vaults of the treasury must thus find its
way into the currency. While the trade
dollars have ceased for the present ut least
to be an element of active disturbance in
our currency system. some provisions
should be made for their surrender to the
government. In view of the circumstan-
ceS under which they We're coined and tine
fact that they never had Il legal tender
quality. there should be offered for them
only a slight advance over their bullion
value. The secretary in course of his re
port considers the propricty of heautfy-
ing the designs of our subsidiary silver
coins and of so increasing their weight that
they may bear their due rate Of value To
standard dollars. His conclusions in this
regard are cordially approved.
Our Foreign Trade.
One Of the gravcst problems which APP
pcaiS to the wisdom of Congress tor sulu-
tiou. is the ascertaiument of the most eff
fcCtive means of increasing our foreign
trade. and thus relieving the depression
under which our industries are now Ian
gushing. heSrCrctarY of the Treasury
advises that the duty of investigating this
subject he entrusted in the first in
stance To Il competent commission While
fully recognizing the considerations that
may be urged against this course, | am
nevertheless of opiaiOn that upon the
whole, no other would be likely to effect
spcedicr or better results.
That portion of the ScCretary's report
which concerns the condition of our ship
fs4tl .,a.
your attention. He cmphrtically recon
mends that as an incentive to the in
VeStmcnt of American capital i'll Amer
lean steamships the government shall
by liberal payments for mail transpOr-
tatiOn or other otherwise, lend its active
assistance to individual enterprise, and
declares his belief that unless that course
be pursued our foreign carrying trade
must remain rs it is to-day alOmOst eXclu-
sivcly in the hands of foreigners. one
phase of this subject is now especially
prominent III view of the repeal by the act
of June %, 1854, of all statutatory provi-
sionS arbitrarily compelling American
vessels To carry mails To and from the
United States. As it is necessary to make
provision or compensate the owners of
such vessels for performing that service
after April, 1883, il is hoped the whole sub
ject will receive early consideration that
Will lead to the enactment of such meas
urcs for the revival of our merchant mar
Inc rs the wisdom of Congress may devise.
Excise Taxes.
In my annual message of 1852 recon-
mendcd theabOlltiOn of all excise taxes eX-
Cept those relating to distilled spirits. This
recommendation is now renewed. In case
these taxes shall he abolished the
revenues that will still remain to the gov
eminent will in my opinion not only suf-
flee To meet its reasonable expenditures,
but will afford surplus large enough to
prevent of such tariff reduction as may
seem to he advisable when the results Of
the recent revenue laws and commercial
treaties shall have shown in what quar-
tiers these reductions can be most judi
CiOuslN effected.
Government and the Banks.
Three per cent bonds of the Government
totheamOunt of more than 500, OOO, OOO have
since my last annual message been
rcndecmcd by he treasury. AS these bonds
still constitute the chief bases for the cir
Culation of the national banks, the qucS-
ton how to avert the contraction of the
currency caused 10y their retirement is one
of constantly increasing Importance. II
seems generally Connected that he law GOV
erninG this mGltcrc NHc;-, from buuk~ cNCcN
SiVC security aud that upuu their present
bond deposits larger circulation than is
now allowed may hc granted with safety.
| hope that the hill which passed the Sen
ate at the Lass session permitting tine issue
of notes equal to the y,lu" of deposited
bonds Will commend itSrIitp the approval
of the House of Representatives.
The War Department.
In the expenses of the war department
the secretary reports a decrease of more
than S9.OOOOO on this reduction, 5000
600 was effected in the expenditures for
rivers and harbOrN and -. 100 600 in the rN
penditurcs for the quartcrmaSter'S depart
mcnt. Outside of that department the
annual expenses of all army bureaus prop
Ter except possibly the ordnance bureau
are substantially fixed charges which can
not he materially diminished without
change in the numerical strength of the
army The expenditures in the quarter
masters department can readily be sub
icctcd to administrative discretion and
it is reported 10y the Secretary of
War that a. the result Of exercising such
discretion in reducing the number of
draught and pack animals in the army,
the animal cost of supplying and caring
for such animals is now 81 los ON5.9o less
than it was in lSS!. The reports Of the
II.