National Republican., 1884-12-02

CURRENCY.
The per cont. bonds of the govern
ment to the amount of more than $780,
OOO,0OO have, since my last annual mes.
sage, been redeemed by tho treasury.
The bonds of that issue still outstanding
to little over 5000, 100000, about
of which will be retired
through the operations of the sinking
fund during tho coming year. As these
bonds still constitute tho chief basis for
the circulation Of the national banks,
the question how to avert the contra ction
of tho currency, caused by their rotire-
ment, is ono of constantly increasing im-
portance.
1t seems to be generally conceded that
the law governing this matter exacts
from tho banks excessive security, and
that, upon their present bond deposits n
larger circulation than is now allowed
may be granted with safety. 1 hopo that
the bill which passed tho senate at the
last session, permitting the issue Of notes
equal to tho face value Of the deposited
bonds, will commend itself to tho ap-
proval of the house Of representatives.
The War Department..
In tho expenses of the war department
the secretary reports decrease Of more
than S9,000,0O0. OF this reduction $5,-
100000 W as effected in the expenditures
for rivers and harbors and $2,70O,0OO in
expenditures for the quartermaster's de-
partment.
Outside of that department tho annual
expenses Of all the army bureaus proper
(except possibly the ordnance bureau
are substantially fixed charges, which
can not bo materially diminished without
a change in tho numerical strength of
the army. The expenditures in the
qnartermaster' department can readily
be subjected to administrative discretion,
and it is reported by the secretary of war
that as result Of exercising such discpe-
tion, in reducing tho number of draught
and pack animals in tho army, tho an
nual cost of supplying and caring for
such animals is now $l,l08, ,OS5.0O less
than 1t was in 1881.
The reports of military commanders
show that tho last year has been notable
for its entire freedom from Indian out
breaks.
In defiance Of the Presidents proclama-
tion of July !, 1881, certain intruders
sought to make settlements in the Indian
territory. Thoy were promptly removed
by detachment of troops.
During the past session of congress q
bill to provide u suitable freproof build
ing for the army medical museum and the
library of the surgeon generals Office re-
ceived the approval of tho senate. A
similar bill, reported favorably to tho
house of representatives by one of its COM
is still pending before that body.
1t is hoped that during the coming sos
sion the measure may become law. and
that thereafter immediate steps may bo
taken TO secure place Of safe deposit for
these valuable collections, now in state
of insecurity.
RIVERS AND uARBoRs.
The funds with which the works for the
improv vement of rivers and harbors were
prosecuted during the past year were de-
rived from the appropriations of the act
of Aug. 9, 1852, together with such few
balances as were on hand from previous
Tho balance in tho
treasury subject to requisition July /,
1853, was $l0,021, ,Gi9.55. Tho amount ap-
during the fiscal year 1884 was
81 ,3l9, ,63i.62 and the amount drawn from
the treasury during the fiscal year was
IS, ,22S, 1O3.54, leaving balance Of SO, 49,
55O.63 in the treasury subject to requisi-
tion July l, 1884.
COAST DEFENsEs.
Tho secretary of war submits the report
of the chief of engineers AS to the practi-
cability OF protecting our important cities
on the seaboard by fortiications and other
defenses able to repel modern methods of
attack. The time has now come when
such dofenses can be prepared with conf
dence that they will not prove abortive:
and, when the possible result of delay in
making such preparation is seriously con-
sidered, delay seems inexcusable. For
the most important cities-thoso whose
destruction or capture would be national
adequate defenses, inclusive
of guns, may bo made by gradual oxpend-
iture Of $60,000,000, q sum much less than
a victorious enemy could levy as con-
tribution. An appropriation Of about one
tenth of that amount is asked to begin
the work, and / concur with the secre-
tary of war in urging that it be granted.
LONG RANGE CANNON NEEDED.
The war department is proceeding
with the conversion of 10-inch smooth
bore guns into S-inch rifles, by lining the
former with tubes of forged steel or OF
coiled wrought iron. Fifty guns will be
thus converted within the year. This,
however, docs not obviate the necessity
of providing means for tho construction
of guns of tho highest power, both for the
purposes of coast defense and for the ar
mament of war vessels.
Tho report of the gun foundry board,
April 2, 1883 in pursuance of
the act Of March 3, 1888, was transmitted
to congress in a special message of Feb.
Is. 1884. In my message of March 49, 1884,
| ut n n m Iat 3 tipp
of the board that the government should
encourage the production Of private steel
works of the required material for heavy
cannon, and that two government fac
tories, one for the army and one for the
navy, should be established for the fabri-
cation of guns for such material. No
action having been taken, tho board was
subsequently reconyened to determine
more fully tho plans and estimates ncces-
sary for carrying out its recommended
tion. II has received information which
indicates that there arc responsible stool
man ufaCturers in this country who, al
though not provided at present with the
necessary plant, are willing to construct
the same and to make bids for contracts
with the government for the supply of
the requisite material for the heaviest
guns adapted TO modern warfare, If a
guaranteed order Of sufficient magnitude,
accompanied by positive appropriation
extending over series of years, shall be
made by congress. All doubts as to tho
feasibility of the plan being thus re-
moved, | renew my recommendation that
such action be taken by congress as will
enable the government to construct its
own ordnance upon its own territory, and
so to provide the armaments demanded by
considerations of national safety and
honor.
The Navy.
The report of the secretary of the navy
exhibits the progress which has been
made on the new steol cruisers authorized
by tho acts of Aug 8, 1882 and March 3,
1888. OF tho four vessels under contract,
one, the Chicago, of $500 tons, is moro
than half fnis he'd; tho Atlanta, of 5000
tons, has been successfully launched, and
her mach incry is now fitting: the Boston,