The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1884-12-05
For interest on the puhHcdebt. H,57s,s7s IS
For the sinking fund. 46T90,229 so
Total ordinary expenditures. $3.50, GIG, 4ss 50
1or O err frF ~ eno' Coa N

the amount of expenditures. The aggregate
receipts were less than the year previous by
about SD, $4,000. The falling off of revenue
from customs made up nearly S20,00O,OO0 of
this deficiency, and about S23, 600 900 of the re-
mainder was due to the diminished
receipts from internal taxation. The Secre-
tary estimates the receipts for the fiscal year,
which will end June so, 1885, at $780, 1000,
and the total expenditures at $500, $40 POI I6, in
which are included the interest on the debt
and the amount payable to the sinking fund
This would leave surplus for the entire year
OF about SIS, 100000.
THE SILVER COINAGE
concur with the Secretary of the Treasury
IN recommending the immediate suspension
OF the coinage of silver dollars and the. issue
OF silver certificates. This is a matter to
| which in former communications have more
than once invoked the attention of the Ma
tional Legislature. 1t appears that annually
for the past six years there have been coined
in compliance with the requirements of
Tne f aSsn 4T February Is 1873
dollars. The number now outstanding is re-
| ported by the Secretary to be nearly one hun
dred and eighty,hye millions, whereof but
little more than forty millions, or less than
twenty-five 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 possible, but there are other and
graver considerations that tend in the same
direction. The Secretary avows his con-
| Ylction that unless this coinage and the is
suance of silver certificates be sus-
pended, silver is likely at no distant day to
! become our sole metallic standard The COM
merclal disturbance and the impairment of
| National credit that would be thus occasioned
can scarcely be over-estimated. 1 hope that
| the Secretarys suggestions respecting the
withdrawal from circulation of the one and
two dollar notes will receive your approval
| 1t is likely that a considerable portion of
the silver now incumbering the vaults
OF the f+ treasury aSa might thus s,, find its
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 fact
| that they have never had legaltender quail
| ity, there should be offered for them only
| slight advance over their bullion value. The
| Secretary, in the course of his report, consid-
ers the propriety of identifying the designs
of our subsidiary silver coins, and of so in
creasing their weight that they may bear their
due ratio of value of the standard dollar. His
conclusions in this regard are cordially ap-
proved.
INTERNAL REVENUE TAXES.
The President renews the recommendation
made in his message of 1882 that all excise
taxes, except those relating to distilled spirits
be abolished.
OUR FOREIGN TRADE.
It is recommended that as the most speedy
means OF aScertaining how an increase of
cur foreign trade may be attained, a compe-
tent commission to Investigate the question
NC dppOlul6u Ill dCCOruduC0 WIGQ Dl6 TeCOlQs
mendat1on OF the Secretary of the Treasury.
SHIPPING INTERESTS.
| The hope is expressed that the subject Of
American shipping interests will receive early
consideration that will lead to the enactment
| of such measures for the revival of our mer-
chant marine as the wisdom of Congress may
devise.
THE NATIONAL BANKS.
The three per cent. bonds of the Government
to the amount of more than $10,O0O,000,
| NV loo Of o0nI T01 hnoY,
redeemed by the Treasury. The bonds Of
that issue still outstanding amount to little
| over S2O0, 600, about one-fourth of which
will be retired through the operations of the
sinking fund during the coming year. AS the
bonds still continue the chief basis for the
circulation of the National banks, the ques-
ton how to avert the contraction of the cur
| rency caused by their retirement is one of
constantly increasing Importance.
1t seems to be generally conceded that the
law governing this matter eXacts from the
banks excessive security, and that upon their
present bond-deposits a larger circulation
than is now allowed may be granted with
safety. hope that the bill which passed the
| Senate at the last session permitting the issue
of notes equal to the face value of deposited
bonds will commend itself to the approval of
| the House OF Representatives.
THE WAR DEPARTMENT.
Considerable space is devoted to the recon-
mendations of the Secretary of War, with re-
gard to the bills before Congress for the con-
struction of fire-proof building for an army
h1CulCdI IuuS0ulu LII Is uOpGQ lHdU INC
coming session the measure may become a
law, and thereafter immediate steps may be
taken to secure place OF safe deposit for
these valuable collections now in state of in
| security.
The Secretary of War submits the report of
the Chief of Engineers as to the practicability
| OF protecting our important cities on the sea-
board by Notifications and other defenseS
| able to repel modern methods of attack The
time has now come when such defenses can
be prepared with confidence that they will
!
| result OF delay in making such preparation
| is seriously considered delay seems inexcus-
able. For the most important cities, those
whose destruction or capture would be Ma
tional humiliation adequate defenses, inclu-
siye of guns, may be made by the gradual ex-
| penditure of $60,000,000, sum much less than
ton An appropriation of about one-tenth of
that amount is ASKED to begin the work, and /
concur with the Secretary of War in urging that
it be granted. The War Department is proceed
ing with the conversion of ten-inch smooth
bore guns into eightinch rifles by lining the
former with tubes of forged or of coiled
wrought iron. Fifty guns will be thus con-
verified within the year. This, however, does
not obviate the necessity of providing means
for the construction of guns of the highest
power both for the purposes of coast defense
and for the armament OF war vessels.
! | renew my recommendation that such &C
ton be taken by Congress as will enable the
Government to construct its own ordnance
upon its own territory, and so to provide the
ornaments demanded by considerations of
National safety and honor.
THE NEW STEEL CRUISERS.
The report of the Secretary of the Navy ex-
hibits the progress which has been made on
| the new steel cruisers authorized by the acts
| of August 8, 1882, and March 8, 1883. OF the
four vessels under contract, one, the Chicago
of 1850 tons, is more than half finished; the
Atlanta, 5000 tons, has been successfully
launched, and her machinery is now fitting;
the Boston, also of 5000 tons, is ready for
| launching, and the Dolphin, dispatch steam
er of l,50O tons, is ready for delivery.
| The machinery of the double-turreted mon
itors Puritan, Terres and Amphitrite, con-
tracted for under the act of March 3, 1883, is
| in process OF construction. No work has been
/ done during the past year on their ar1nor, for
| lack of the necessary appropriations. A
| fourth monitor the Monadnock, still remains
unfinished at the Navy Yard in California. 1t
| is recommended that early steps be taken to
| complete these vessels and to provide also an
armament for the monitor Miantonomah.
THE GREEDY EXPEDITION.
The story of the rescue of Lieutenant
| Greedy and his congress is referred to, and
the message says the organization and con-
duct of this relief expedition reflect great
creditsupon all who contributed to its success.
THE NAVY.
In this, the last of the State messages that
/ shall have the honor TO transmit to the
! Congress of the United States, can not too
/ strongly urge on its attention the duty of
restoring our navy as rapidly as possible to
the high state of efficiency which formerly
| characterized it. AS the long peace that has
lulled us into a sense of fancied security may
at any time be disturbed it is plain that the
policy of strengthening this arm of the serv-
ice lis dictated by considerations of use and
economy; of just regard for our future tran
guilty, and OF true appreciation of the digni-
ty and honor of the Republic
ga THE POSTAL sEvIcE.
The report of the Postmaster-General
acquaints you with the present condition
and needs Of the postal service 1t dis
closes the gratifying fact that the loss
of revenue from the reduction of the
rate in letter postage as recommended
in my message of December, 1882, and
effected by the act of March 3, 1883,
has been much less than was generally anti
cipated. My recommendation of this reduc-
ton was based upon the belief that the actual
falling off in receipts for letter postage for the
year Immediately succeeding the change of
rate would be $3,000,000. 1t has proved to be
only $2,2T5,O0
This is a trustworthy indication that the rev.
enue will soon be restored to its former vol
ume by the natural increase of sealed CORE
spondencc / confidently repeat therefore,
the recommendation of my last annual mes
sage that single-rate postage upon drop let
tiers be reduced to one cent wherever pay
ment of two cents is now required by
law. The double rate is only exacted at
offices where the carrier system is in oper-
alton, and it appears that at these