The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1885-11-27

than fur skins. ......... 20, $50, 443 $3.50
o. the entire amount of duties collected, 40
per cent was collected from the following articles
of import: Sugar AMI molasseS, 20; wool and
its manufactures, 10: silk and its manufactures,
=: Iron and steel nm their manufacturer,
7; cotton and its manufactures, q; flax, hemp
and jute and their manufactures. >.
REDUCTION OF REVENUE
The fact that our revenues are III excess OF the
actual needs of the government, ~jnstities q re-
duction In the amount exacted from the people
for its support. Our government Is but the means,
established by the will of a free people. by which
certain principles are applied. which they have
ado pied for their benefit and protection, and 1t
il never better administered, and its true spirit
is, never better observed than when the peoples
taxation for its support II scrupulously limited
to the actual necessity OF expenditure and dis
tributcd according To u just and equitable plan.
The proposition with which we have to deal IL
the reduction of The revenue received by the
government and indirectly paid by tho people
from customs duties. The question of free
trade is not involved. nor IL there now any oc-
casion for the general discussion of the wisdsm
or expediencyI OF q protective system. Justice
and fairness dictate that In any modification OF
dustries and interests which havo been
encouraged by such laws, and in which
our citizens have large investments,
should not be ruthlcssly injured or destroyed.
We should also deal with the subject In such q
manner as to protect the interests OF Americ IN
labor, which Is the capital of our workingmen.
the most justifiable pretext for a protective
policy. Within these limitations a certain re-
ductiOn should be made on our customs revenue.
Tho amount of such reduction having beef. de-
termfned. the inquiry follows where can 1t best
be RENTED and what articles can best be re-
leased from duty In the interest OF our citizens?
/ think the reduction should be made In the rev.
enue derived from a tax upon the imported nee
essaries of life. We thus directly lessen the
cost of living in every family OF the land, and re-
lease to the people In every humble home a
larger measure OF the rewards OF frugal In
dustry.
THE BANKS.
During the wear ended Nov. !, 1885, las ma
tional banks were organized, with an aggregate
capital OF $16.93S 900, and circulating notes
have been issued to them amounting to ~, Pa
6l0. The whole number of these banks In eX-
istence on the day above mentioned was 2,727.
The very limited amount of circulating notes
issued by our national banks compared with the
amount the law permits them to issue, upon q
deposit of bonds for their redemption. indicates
that the volume OF our circulating medium may
be largely increased through this instru-
mentality. Nothing more important than the
present condition Of our currency and coinage
can claim your attention. Since February. 1873,
the government has, under the compulsory pro-
visions of law, purchased silver bullion and
coined the same at the rate Of more than
100000 every month. BY this process,