Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1885-12-17
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THE TREASURY CONDITION.

THE TREASURY CONDITION.
| The condition in which our Treasury may be
| placed by persistence in our present course is a
matter of concern to every patriotic citizen who
| does not desire ms government to pay IN silver
such of its obligations as should be paid in gold.
| Nor should our condition be such as TO oblige us
| in prudent management of our affairs to dis
continue the CALI G in and payment of interest
bearing obligations which we have the right now
| to discharge and thus avoid the payment Of
| further interest thereon.
| NATIONAL BANKS.
During the year ended Nov. 1st 1885, AS ma
capital of SIS $685. and circulating notes have been
| Issued to them amounting to S4274, 910, The
| whole number ef these banks in existence on the
| day above mentioned war 2,7SI
| The very limited amount of circulating notes
| issued by national banks compared with the
amount the law permits them to issue upon de-
! post of bonds for their redemption, Indicates
that the volume OF our circulating medium may
i Rg largely increased 'nr0nsh TINS instrumental
| TEE SILVER DOLLAR.
| Nothing more important than the present con,
| ditlon OF our currency and coinage can ella IN
| your attention. Since February 1878 the govern
ment has under the compulsory provisions of law,
| purchased silver bullion and coined the same at
| The rate OF more than two millions OF doI4rS
| every month. BY this process up to the present
date 215, 759 431 silver dollars have been coined
A reasonable appreciation of delegation of
| power TO The general government would limit its
exercise without express restrictive words, to the
|
| lie welfare. Upon this theory the authority TO
| coin money given to congress by the constitution
| II II permits the purchase by the government OF
bullion for coinage in any event does not Justify
suck purchase and coinage to an extent beyond
| the amount needed for O sufficient circulating
medium The desire to utilize the silver product
OF the country should not lead to misuse or the
! pervefSion of this power.
The necessity for such an addition TO the silver
currency of the nation, as is compelled by the
silver coinage act is negatived by the fact that
up TO the present time only about fifty millions of
silver dollars coined have actually found their
| way into circulation, leaving more than one hun
| dred and stxty-fve millions in possession of the
| government, the custody OF which has lied
! considerable expenses ror the cons ructi0n Of
vaults for its deposit Against this latter unit
there is outstanding silver certificates anouutns
| TO bout S93 100000.
TIMID CAPITAL.
Capital timidly shuns free trade and investors
are unwilling to take the chance Of the question
able shape in which the money will be returned
| to Them, while enterprise halts at risk against
| which care and sagaclous management 90 not
| protect. AS a necessary consequence labor lacks
| employment, and suffering and distress are Wis
| tied upon portion Of fellow citizens, eSpec-
tally entitled to the careful consideration Of those
! charged with the duties of legislation. No inter
est appeals to so strongly for safe and stable
currency, as the vast army of the employed.
RECOMMEND TIE SUSPENSION OF THE CoNPUL-
sorry COINAGE OF SILVER
dollars, directed by the law passed in February,
WAR DEPARTMENT.
| The report of the secretary of war is herewith
| submitted. The attention Of congress is invited
to the detailed account which it contains of the
| administration of its department and his recon-
mendations and suggestions for the Improvement
! of the same.
consisted at the rate of the last consolidated re.
turns of 2,154 officers and 24,705 enlisted men.
| The expenses of the department for the fiscal
year ending June 3D. 1885, including S12164344.6 90
for public works and river and har2~or improve
mentS, war, and $40, $50 9954 BeSi- the troops
| which were despatched in pursuit of the small
bands of Indians which left their reservation in
| Arizona and committed murder AMI CatrageS,
| two regiments of cavalry and one of li-fantry
sent last July TO the Indian territory to pre-
| vent an outbreak which seemed imminent, there
remained to aid if necessary, in the expulsion of
| intruderS upon the reservation who seemed to
cause the discomfort among the Indians; but the
| executive procamatio warning them TO remove
was complied with without interference.
| Troops were also sent to Rock Springs, in
| Wyoming Territory, after the massacre OF
sad ReT9 TO geee iReF T
| tory, to avert a threatened attack upon Chinese
| laborers, and domestic violence. There, in both
| cases, the mere presence OF the troops had the
| desired effect. 1t appears that the number of
| assertions have diminished, but that during the
! last fiscal year they numbered 927, and one in
stance is given by the Lieutenant General of six
| deserDions by the same recruits. / am convinced
| that this number Of assertions can be much d.
minished by better discipline and treatment, but
| the punishment should be Increased for repeated
| offences.
These assertions might also be reduced by les.
sening the term of the first enliStmentS thus al
| lowing a discontinued recruit to contemplate
| nearer discharge and the army prof"~ble rid
dance after one term of service. ACCOMPLISHMENT
| would be quite apt to secure contented recruits
| and good soldiers.
TEE NAVY.
The report of the secretary Of the navy gives
! a history of the operations OF his department and
| the present work committed to his charge. He
details in full the course pursued By him to pro.
| tect the rights OF the government. In respect or
certain vessels unfinished at the time of his acces
| sion TO Office and also concerning the dispatch
boas Dolphin, claimed to be completed and
| awaiting the acceptance of the department..
No one can fail to from the recltals contained
in this report, that only the application of bust
principles has been insisted upon IN tbs treat
ment of these subjects, and that whatever contro-
| versy has arisen was caused by the exaCt1on on
! the part OF the department Of contract obliga-
tons as they were legally construed. In the case
| of the Dolphin, with entire justice to the con-
| tractor. agreement has been entered into pro-
viding for the ascectainment by judicial inquiry
ance with the contract in her construction.
and further providing for the assessment of any
| damages to which the government may be emit
| tied on account Of partial failure TO perform
| such contract or the payment OF the sum stu
remaining unpaid upon her price in case OF full
performance as ad1udged The e1ntTaesq or 3 y
complete the other vessels, they were taken pos
session Of by the government in their unfinished
state, under q clause in the contract permitting
such course, and are now in process Of compile
ton in the yard of the contractor, but under the
| supervision of the navy department.
Congress at it's last session authorized the con-
struction Of two additional new cruisers and two
gun boats at a cost not exceeding IN the eggre-
gCto g, 995 900. The appropriation for this pur-
| pose having become available on the first day OF
| July last steps were at once taken for the pro-
| curement Of such plans for the construction of
these vessels would be likely to insure their use
| fulness when complete. These are Of the utmost
| importance in considering the constant advanse
the art Of building vessels Of this character and
the time is not lost which is spent in their careful
| consideration and detection.
| All must admit the importance Of an affective
| navy to nation like ours. We have such an ex-
tended seacoast to protect, and yet we have not
| a single vessel oe war that could keep the seas
against frst-class vessel of any important
power. Such condition ought not longer TO
continue. The nation that cannos resist aggres-
sion is constantly exposed TO it. Its foreign
policy is of necessity weak and its negotiations
are conducted with disadvantages, because it is
not in condition TO enforce the terms dictated by
its sense Of rights and justice.
Inspired as am by the hope shared by all
patriotic citizens that the day is not far distant
when our navy will be such as BELTS our standing
among the nations Of the earth, and rejoiced at
every step that lads in the direction Of such a
consunDmaton, deem it my duty to especially
direct the attention Of congress to the clause of