Salt Lake evening Democrat. [volume] (Salt Lake City, Utah) 1885-1887, 1885-12-09

lures. .............. 44,656,4S2 TT
Silk and its manufac-
lures. ............... 4O,3s3,OO2 So
Chemicals, dyings and
medicines. ........... 35,O7O,s16 60
Iron and steel manufac-
lures. res.............. 34,56s,6Ss so
Flax, hemp, jute and
their manufactures. 32,S54,S74 Sc
Cotton and its manufac-
lures. ............... 2S,152,OO1 4.S
Hides and skins other
than fur skins. ~ 2O,5S6443 3.5
OF the entire amount of duties collected
20 Der cent. was collected for the follow
ing articles of import: Sugar and molas
ses, 30; wool and its manufactures, Is
silk and its manufactures, 8; iron anC
steel and their manufactures, Z; cottor
manufactures, 6; flax, hemp and jute and
their manufactures, 5.
The fact that our revenues are in excess
of the actual needs of an economic ad-
ministratlon of the Government iustifies
reduction in the amount exacted from
the people for its support. Our Govern.
>ment is but the means established by the
will of free people by which certain
principles are applied. which they have
adopted for their benefit and protection
and it is never better administered and
its true spirit is never better observed
than when the peoples taxation for its
support is scrupulously limited to the
actual necessity of expenditure and dis
trlbuted according to just and equitable
plan.
The proposition with which we have to
deal is the reduction of the revenue re-
ceived by the Government and indirectly
paid by the people from customs duties.
The question of free traders not involved,
nor is there now any occasion for the gem
eral discussion of the wisdom or ex-
pediency OF protective system. Justice
and fairness dictate that in any modifica-
ton OF our present laws relating to
revenue, the industries and interests
which have been encouraged bv such
laws, and in which our citizens have large
investments should not be ruthlessly in
jured or destroyed. We should also deal
with the subject in such manner as to
protect the interests of American labor.
which is the capital OF our workingmen.
Its stability and proper remuneration
furnish the most justifable pretexts for a
protective, policy. Within these limita-
tlons certain reduction having been
determined, the inquiry follows, where
can 1T best be remitted and what articles
can best be released from duty in the in
terest OF our citizens? l think the reduc-
ton should be made in the revenue de-
rived from tax upon the imported neces-
saries of life. We thus directly lessen
the cost of living of every family in the
land and release to the public in eyerv
home larger measure of the rewards Of
industry.
THE NATIONAL BANKS.
During the year ended November 1st.
1885, 145 National Banks were organized
With an aggregate capital of SIG, ,937, 900. |
md circulating notes have been issued to |
hem amounting to $4,274, ,91O. The |
Whole number of these banks in exist
,nce on the day aforementioned was
',127: The very limited amount of cir
uiatlng notes issued by our National
banks, compared with the amount the
aw permits them to issue upon deposit
i bonds for their redemption, indicates
hat the volume ofour circulating medium
nay be largely increased through their
nstrumentality.
THE SILVER QUESTION.
Nothing more important than the
resent condition of our CURRENCY and
olnage can claim your attention. Since
'ebruary, 1873, the Government has
nder the compulsory provisions of law.
urchased silver bullion and coined the
anne at the rate of more than So, ,OOO. 900 ,
very month. By this process, up to the
resent date $215, ,759, ,431 in silver dollars
ave been coined. A reasonable appro-
ration or delegation of power to the
Ienerai Government would limit its ex-
rclse without express restrictive words. :
the peoples needs and the REQUIRE ..
lents of the public welfare. Upon this
leory, the authority "to coin money"
wen Congress by the Constitution. if if
ermits the purchase by the Government ,
the bullion for coinage, in any event q
oes not Justify such purchase and coin
re to an extent beyond the amount
eeded tor sufficient circulating medium. =
ne desire to utilize the silver product of >
e country should not lead to misuse .
the perversion of this power. The :,
eceslty Tor such an addition to the silver !
lrrency of the nation as is compelled bv !
THE SILVER COINAGE ACT, 4
negatived by the fact that up to tbe S
esent time only about 90, O,Oo0, 900 of sill g
r dollars SO coined have actually found n
cir way into circulation, leaving more p
an 165 200, 900 in possession of the Gov a
nlment, the custody of which has en- L
lied a considerable expense for con- a
.uctlon OF vaults for its deposit. Against te
is latter amount there are outstanding es
yer certificates amounting to about rf
5000, ,0cO. Every month $4,000. 1000 of
Id In the public treasury is paid out for A
10000 or more of silver dollars to be O,
ded to the idle mass already accumu- e,
ed. If continued long enough. this II
will result in the substitution of T.
YER for all the gold the Government in
ms, applicable to its general purposes. ae
VIII not do to rely upon the receipts of
Government to make good this de- tb
ne OF gold, because of the silver thns in
ned, having been made legal tender ch
all debts and dues, public and private. of
times during the last six months. 5S VII
cent OF the receipts for duties have in
IN In silver certificates, while the aver on
within that period has been 20 per th
It.. The proportion of silver and its th
tificates received by the Government mr. m