The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1885-12-12
some Of the principal exports, with Their val.

oliver OBSERVATION-DISCLOSURES. l55jjSs1O)
tn, fsiiow.ue are riJtn as prominent articles
IF imports daring TIE your, with Their values
aud With the percentage they bear Io the in4-
pOgJG..vAs
Value. coutngc
IFprar and m5lgsncs S765as,1,3 l5xJ
'uult.r....... ........,,,.....,, 40 12'.3ls SO
Wool cuj lts manufactures. 4Ao5s,ls! 10
sllA uni !.J manufacturer. 4yoJ3,yo- CvJ
Chemical iyv.uEa ana med . 40.
IRON aud stsel. and other
uIAnufGCt Irgrs ,.....,,.'.' 3lJC5,b6J oVo
Flax. hemp. iute, and their ,
manufacture .,....,..,..., 2sDlel u''
Cotton and - manufactures 4SlJ-,O.l Se5
uides and skins other thGn 90
fur 3. 'uB.....-..,.....,,'.. 2VO'o,4f5 o'0O
guL REDUCTION OF THE TARIFF.
The fact thrt our revenues are in excess 81
tho nGtunl needs Of economical Gdminlhtfa-
Ngu VI the Government iuEt;nes g reduction in
the amount expected from the people for it, sup
uurt Our Government is but the means estau'
ishod by tho will Of Il FREQ people by which GER
tain principles are applied which they nave
adopted for their benefit and protection Aud u
Is never better administered and It's uuer spirit
"a never better observed than when the people
taxation for 10 support 10 scrupulously iuiLted
~ tho actual necessity Of expenditure ana as
t1butod according 10 Just and equitable pan.
| Tho propos.tion with which we have TO deal 10
tho reduction Of ths revenue received by ths
Government aud indirectly paid by the people
from customs duties.
Ia there now any occasion for the general discus
sion OF tho wisdom or erpediency Of protec-
tive systein Justice and fairness dictate that
| In any mod n0atiOn Of the present laws relating
To revenue, the industries and interest which
have boon encouraged by such lava, and IN
| which our citizens have large Investments should
| not DO ruthlrssly injured or destroyed.
Wa should 1spl with the subject IN such man
ner as "a protect the interests Of American labor
which - tho capital OF our worhinsmeh' Us
stability ana proper remuneration FURNISH 'he
uIns. juatflable prst.xt FOR u protective policy.
/ WITHIN tusss Limitations certain reduction
slould Do lusdJ IN customs revenue Inc
amount ot such reduction having uetn deter
/ mined the inquiry follows Where can IL best
! DO RENTED, aud what articles can best he re-
leasad from duty In the interest Of our citilons'
think tLe reduction should be made IN tho
/ revenue derived from tax upon the imported
/ neoeba.rics Of life We thus directly IS, the
/ cost OF living in every family Of the land, ana
release TO tho public in every humble home
larger asure u he rewards OF h7i q industry.
VhE %ArIuhAL BANK CIHCULAIl'h.
During the ar ,nded Nov /, 1855 40 nat on
nj banks ~ re organized, win nm aggregate cap
! it'll Of SlG.Jj- .U.0, aud circulating notes hSNe
been issued 10 tutm amounting 20 S],2ii9lO,
! The whole nun brr Of thfsl banks ia existence
on the day utors m ntiOued vas 2,t2'.
The ysry limited amount Of circulating notes
| issued by Our national banks compared With the
| amount tie law permits them 10 issue upon Il
/ dcIOslt of bonds for their redemption, indicates
| that tho vulgme Of our circulating medium may
be lurEyl' increased through this insuHu.eutuA-
/ ity.
| Since February, 1878. the Government has, I'M
der the compulsory provisions Of law, pufcH sed
silver bullion and CuInei the same nj the rae ~
| more tauu 100000 Of dollars every month. by
this process up - the present dHtu. ~, tJJ, idl
silver dollar have been coined.
I A reasonable appreciation Of II deleCntion 81
! power 70 the General Government would limit
/ Its exercise without express restrictive words,
/ Go the people net ds und tine requirements Of
! tho public welfare.
! given Congress by the Constitution, Il IL permits
tho purchase by the Government Of bullion for
! coinage IN any event, does not Justify such pur-
, chase and coinage to an extent beyond tho
amount Lesdsd for sufficient circulating
medium. The dosire to utilize tne silver pro-
duct Il the country should not lead to IL misuse
i or tho ptrversion of this power.
Tho necessity for such an addition to the sill
currency Of the nation as Ia compelled by
the silver coinage net ~ negatlVed by The fact
that up TO the present time only about fifty
| millions of silver dollars so coined hive net
uitlly found their way into circulation, lHaVing
moro than one hundred and siJty-hve millions
in posse ssiOu Of tho Government tho custody Of
which has entailed II considerable expense for
| construction Of vaults for its deposit. Against
this latter amount there ars outstanding silver
certificates amounting to about 81 oJJ,9oO OF dol
lars Every month ~, 900 900 Of gold IN the public
Troasury are paid out for S2.00.o.0 or more OF
silver dollars, 10 be added 10 tho idle mass al
roady accumulated. II continued long enough
this operation will result IN the substitution OF
| silver for all the gold the Government owns APP
plioabl0 to its general purposes. IL WILL not do
10 rely upon tho receipts OF the Government TO
make good this drain Of gold, because the silver
thus coined having been made legal tender for
all debts and dues, public and private, ut
| times during the past ak months hity per cent.
OF the receipts for duties have been in silver
| or silver oprtihcat0s, while the average within
that period has been twenty per cent. The
| proportion Of silver and its certificates received
| by tho Government will probably increase as
time goes on, for the reason that the nearer the
| period approHchcs when 1t will be obliged to
offer silver in payment OF its obligations tbs
| greater inducement there will be to hoard gold
against depreciation in tho value OF silver, or for
tho purpose Of speculation This boarding Of
| gold has already begun. When the time comes
| that gold has been withdrawn from circulation,
| thon will DO apparent the difference between the
| roal vnlue OF tue silver dollar and . dollar in
! gold, and tho two coins will part company.
Gold, still the standard Of value aud necCs-
sary in our dealings with other countries, will be
at IA premium over silver RankS which have
| substituted gold for the dors, % OF their Gus
| toners may pay them with .'l.Cr bought with
| such gold thus milking handsome profit. Rich
| speculators Will sell their hoard'd gold to their
| noighbotS who need il to llQuIdate their foreign
| dobGa Mt n ruiuuus premium over silver, and the
| laburlnG men and women Of the land. most de-
| fensclehs Of all, Will find that the dollar
reoolvod for the wages Of their toll has
| sadly sHrunk in iJs purchasing power
It may be said that the latter result will he but
| temporary, and that ultimately the price of la
| Dor viii DO adjusted To the change but even II
this takes place the wage worker cannot POSSE
| bly, gain, but must inevitably lose since the
price no is compelled 10 pay for his living Will
not only be measured IN com heavily depreci-
ated, and fuctuntfng, and uncertain in its
value, but this uncertainty in tho value Of tho
purchasing medium will be made tho
protsxt for M advance IN prices beyond
that Justified actual depreciation.
The words uttered in 1884, by Daniel Webster,
in tho Senate 4 the United States are true to-
day The very man Of all others who has tho
deepest interest in sound currency and who
suffers most 10y mischievous legislation in
money matters, is the man who earns his
daily bread by his daily toll" The most
distinguished advocate " blmetAlism, dis-
cussing our silver COINAGE has lately written
mo American citizens hand has vet fen
the sensution " chsapnes- either in re-
ceiving or expanding, the silver-art dollars
and those who live 10y labor or legitimate trade
never Will feel that sensation Of cheapuess
However plenty silver dollars may become they
will not be distributed Us gifts among the ped-
pie, and II tho laboring man should receive four
silver dollars whore he now receives but two.
ho will pay in tho deprecated coin more than
double the price no now pays for all
| tho necessares and comforts Of life
! Those who do not fear any disastrous con
sequences ariaing from the continued Compul-
sorry coinage OF silver Ms now directed by law
and who suppose that the addition to Il eur
rency Of the country intended ms it. result will
be a public benefit reminded that history
demonstrates that the point is easily reached IN
the ntttu pt to float at the same time two sort A