Evening star. [volume] (Washington, D.C.) 1854-1972, 1885-12-08

of the people that both coins will retain the
same purchasing power aud be interchangeable
AT VIII. special effort has been made by the
secretary of the Treasury TO increase the amount
of our silver coin in circulation; but the fact that
a large share OF the limited amount thus put out
has soon returned TO the public Treasury In pay
ment OF duties, leads To the belief that the people
do not now desire to keep II in hand; and this,
with the evident disposition to hoard gold gives
rise TO the Suspicion that there already exists
lack OF confidence among the people touching
our financial processes. There is certainly not
enough silver now I'm circulation TO cause I'M
easiness; ana the whole amount coined and now
on hand might, after a time. be absorbed by the
people without apprehension; but ii is the cease
less stream that threatens TO overflow the land
which causes fear and uncertainty.
What has been thus far submitted upon this
subject relates almost entirely TO considerations
OF home nature, unconnected with the bear
upon the question. But it is perfectly apparent
that line of action in regard TO our currency
cannot wisely be settled upon or persisted in
without considering the attitude on the SUBJ
| tect of other countries with whom we maintain
intercourse through commerce, trade and
travel. Az acknowledgment Of this fact is
| found i'm the act by virtue of which silver Is
compulsorily coined. 1t provides that 1.-THE
| President shall invite the governments of the
countries composing the Latin Union. SO called.
| and OF such other European nations as he may
| deem advisable, to Join the United States in a
oohierehce 60, 70 ADOPT a common ratio between
| internationally the use of bimetallic money and
securing fxity of relative value between these
| metals
This conference absolutely failed, and a SINH
| lar fate has awaited all subsequent efforts in
| the same direction. And still we continue our
| coinage of silver at a ratio different from that
| OF any other nation. The most vital part OF
| the silver-coinage act remains imperative and
uneXecuted, and without an ally or friend, we
battle upon the silver field in an illogical and
| losing contest.
To give full effect to the design of Congress on
| this subject have made careful and earnest
endeavor since the adjournment OF the last
| Congress,
To this end delegated gentleman well in
|
| financial centers of Europe, and, in coujunc-
| ton with our ministers to England. France,
| and Germany, to obtain full knowledge of
the attitude and intent of those governments
| in respect OF the establishment of such an inter-
| both metals at the minis OF those countries and
our own. By my direction our consul-general
| at Paris has given close attention to the pro-
ceedingS OF the congress of the Latin Union, in
order to indicate our interest in its objects and
report i,S action.
| 1t may be said, in brief as the result of these
| efforts, that the attitude of the leading powers
| remain substantially unchanged since the
| monetary conference of 1851, nor is it to be
questioned that the views of these govern
| ments are in each instance supported by the
weight OF public opinion.
The steps thus taken have therefore only
more fully demonstrated the uselessness of
| further attempts at present, to arrive at any
| agreement on the subject with other nations.
In the mean time we are accommodating silver
| coin, based upon our own peculiar ratio, TO
| such AN extent,and assuming SO heavy burden
tn be provided for in any interna tional negolia-
tons, as Will render us AN undesirable party to
any future monetary conference OF nations.
! IL is significant fact that four of the five
countries composing the Latin Union men,
TONED in our coinage act. embarrassed with
their silver currency, have just completed an
| silver shall be coined by their respective gov
ernments, and that such as has been already
| coined and in circulation shall be redeemed in
! gold by the country OF its coinage. The resort
| To This eXpedient by these countries, NAV well
| arrest the attention of those who suppose that
| We can succeed without shock injury, in the
| all ne
silver We may coin under the provisions oI our
| silver-coinage act.
| placed by apersi,tence In our present course Is
| a matter OF concern 10 every patriotic citizen
| WHO does not desire his Government to pay i'm
| silver such OF its obligations as should be paid
| in gold. Nor should our condition be such rs
t. obl!ge us, i'm n prudent management OF our
| affairs, To discontinue the calling in and pay
| meGt of intereSt-bearing obligations, which we
have the right now TO discharge aud thus avoid
| the payment of further Interest thereon.
| The so-cailed debtor class, FOR whose benefit
| the continued compulsory coinage of silver is
| insisted upon. are not dishonest because they
| are in debt: and they should not he suspected
of a desire to jeopardiZe the financial safety of
| the country III order that they may cancel their
| present debts by paying the same i'm depreciat-
ed dollars. Nor should il be forgotten that il is
| not the rich nor the money-lender alone that
must submit TO such a readjustnent, enforced
| by the Government and their debtors The
| pittance OF the widow and the orphan and the
| incomes of helpless beLeficaries OF ali kinds
would be disastrously reduced. The det,ositors
| in savings banks and in other in itulions
which hold in trust the savings o. the po..r,
| when their little Accommodations arc sca.ed
| down TO meet the new order of thing. would,
| in their distress, painfully realize the uelusion
| OF the promise made To them that plentiful
money would improve their condition.
RECOMMENDS SUSPENSION or SILVER COINAGE.
| We have now on hand all the silver dollars
necessary to supply the present needs of the
people and to satisfy those who from sentiment
wish to them i'm circulation; and if their
! coinage is suspended they can be readily OBJ
tanned by all who desire them. Ii the need of
| more is at any time apparent their coinage may
be renewed.
| That disaster has not already overtaken us
| furnishes no proof that danger does not wait
| upon continuation of the present silver coin
age. We have been saved by the most careful
! management and unusual cXpedientS, by a
/ combination OF fortunate conditions and by a
confident expectation that the course OF the
Government i'm regard 10 silver coinage would
/ be speedily changed by the action OF Congress.
Prosperity hesitates upon our threshold be-
cause OF the dangers and uncertainties surround
/ ing this question. Capital timidly shrinis from
! trade, and investors are unwilling 10 take the
chan ce of the questionable shape in which their
/ money will be returned To them, while enter
prise halts at a risk against which care and sa-
gacious management do not protect
! AS a necessary consequence labor lacks en-
ployment, and suffering and distress are Wis
| tied upon a portion of our fellow-citizens
especially entitled to the careful consideration
of those charged with the duties of legislation.
| No interest appeals TO us strongly for a safe
! and stable currency as the vast army of the
| unemployed.
i recommend the suspension of the compul-
| sory coinage of silver dollars, directed by the
| law passed in February, 1873.
THE TREAsURYS BUREAU SERVICE.
The Steamboat Inspection Service on the
! 3Oth day OF June, 1885, was composed Of one
| hundred and forty persons, including officers,
J clerks, and messengers. The expenses of the
service over the receipts were 81 50, S22.22
| during the fiscal year. The special inspection
| o. foreign steam vessels, organized under q law
passed i'm 1882, was maintained during the
| year at an expense of $36,64163. Since the
close o. the fiscal year reducti ons have been
made in the force employed which will result
| in a saving during the current year OF ST., 900
without affecting the efficiency of the service.
The Supervising Surgeon-General reports that
during the fiscal year Al, 7lf patients have re-
| ceived RELIEF through the Marine Hospital Ser
vice, OF whom T., SOB were treated in hospitals
and 1891 1 AT the dispensaries.
Active and effective efforts have been made,
through the medium of this service, to protect
the country against an invasion of cholera,
which has prevailed in Spain and France, and
the smallpox, which recently broke out in
Canada.
J The most gratifying results have attended the
Operations OF the Life-,aying Service during the
last nscai year. The observance Of the provision
of Law equfrtng the appointment of the force
employed n this service 10 be made "solely
with reference to their fitness, and without