Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1885-12-11
Value Per cent
ARTICLE.

iron ana steel and their
manufactures. ........... 81. 56S 6S9I 5,GS
Flax hemp jute and their
manufactures. ......,... s. S4 S74 y 60
Cotton and its manufact'r's Is l5S, ooiI s.
hides and skins, other than
luE ..--.--......l Ais $50
or the total smount Of duties collected seven
ty per cent was collected from the following ar
tcles imported: Sugar and molaSseS, u per cent:
WOOL and its manufactures is per cent. silk and
Its manufactures, per cent; iron and steel and
their manufactures per cent; cotton and IFS
manufactures, Per cent; fax. hemp and lute
and their manufactures, per cent The fact that
our revenues are in excess Of the actual seeds OF
an economical administration Of the government,
lustlfleS a reduction in the amount exacted from
the people for its support Our government IS
but the means established by the will OF II free
which they have adopted for their benefit and
protection, and II is never better administered and
Its true spirit is never better observed than when
the peoples taxation for its support is scrupulous
Iy limited to the actual necessity of expenditure
and distributed accoraing to a just and equitable
plan.
TERRIToRIAL COURTS ABROAD
3eem II expedient that well devised meas
ure for the reorganization of the extra terrific
rial Courts in oriental countries should replace
the present system, which labors under the diSad
vantage of combining judicial and executive
functions in the same Office.
The proposition with which we have to deal is
the reduction OF the revenue received by the gov.
q,
customs duties. The question of free trade is not
involved nor is there now any occasion for the
general discussion OF the wisdom or eNpedi' ucv
OF protective system Justice and fatruesS dc
tate that any modification of our present law
relating to revenues. the industries aud interest,"
which have been encouraged by such laws snd
in which our citiZehS have large investments
should not be ruthlessiy injured or destroyed
TARIFF.
We should also deal with the subject in such a
manner as to protect the interests OF Am;rcau
liberty, which is the capital OF our working me
its stability and proper remuneration furnish the
most JuStifabe preteNt for 4 protective policy.
Within these limitations certain reduction
should be made in our customs revenues. The
amount of such reduction having been deter
mined, the inquiry follows what can be best RENE
died and what Gftcles can be best released rrom
duty in the interests of our citizens.
think the reduction should be ma . in tho
revenue derived from tax upon the imported
neCeSSares OF life. We thus directly les en the
cost OF living in every family OF the land and Ie
lease to the people of every humble home a
larger measure OF the rewards of frugal indus
try.
NATIONAL BANKs.
During the wear ended Nov lst 1855 llJ ma
fional banks were organized. with aggregate
capital of SIG 93S and circulating notes have been
issued to chem amounting TO St,274, 9i0. The
whole number Cf these banks in existence on the
day above mentioned war 2,121
The very limitod amount of circulating notes
issued by our national banks compared with the
amount the law permits them to issue upon DE-
that the volume OF our circulating medium may
bq largely increased through this instrumental
ity.
TIE SILVER DOLLAR.
Nothing more important than the present con
dition of our currency and coinage can cla III
your attention. Since February 1873 the go'ert-
ment haspnder the compulsory provisions of$aw.
purchased silver bullion and coined The sSuSe
the rate OF more than two millions OF doll lrS
dafn nilvar doll larah hay hnpn
A reasonable appreciation of delegation Of
| power TO the general government would limit its
cxerche without express restrictive words to the
peoples needs and the requirements OF the pub
lie welfare. Upon tais 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 a sufficient circulating
medium. The desire to utilize the silver product
OF the country should not lead to a misuse the
perversion of this power.
The necessity for such an addition TO the silver
currency of the nation, is compelled by the
silver coinage act is negatved by the fact that
up to the present time only about fifty millions ut
silver dollars coined have actually found their
way into circulation, leaving more than one hun
dred and sixty five millions in possession OF the
government; the custody of which has en- ail.'
considerable expenses for the cons ruCtion
vaults for its deposit. Against tins latter am 'ti
there is outstanding silver certificates amountn 4.
to about S.t3 000,0O0
Every month two milliouS of gold in the publ.c
treasury are paid out for two millions or more u,
silver dollars, TO be added to the Idle mass already
&C uuuated. II cont nued, though this Up
ton vii esHt in the substitution Of SILVER for All
the gold the government owns, applicable 70 liz
general purposes, IL VIII not do To rely upon the
cnstous receipts Of the government to make Eond
this drain Of gold, because the silver thus C"inrd
having been made legal tender for all debts and
dues public and private, at times during tire lat
six months % per cent. OF the receipts for dulcs
have been i'll silver or silver certificates, whl TIC
average within that per.od has been - per c-Iit
The portion OF silver and its certificates reCclvea
nv the government will pFObnbE increase
goes on, for the reason tnat the hearer the period
approaches VIXEN 1t will DE Obliged 10 offer silver
i'll pay ment of its obligations, the greater will b
the Inducement to hoard gold against depes
sion in the sum OF silver, and for the purpose Of
speculation. This boarding Of gold has slreIdy
begun. When the time comes when gold has b"ta
withdrawn from circulation there viii be Bppar
ent the difference between the real value OF h,
silver dollar and a dollar in gold and the'twO
coins will part company.
Gold still the standard OF value and necessary
in our dealings with other countries, will be at
premium over silvsr The banks which have
suOsti uted gold for the deposits of their custoai
ers may pay them with silver bought with sucI
gold, thus making handsome profit. Rich spec
tatorS will sell their boarded gold to their neigh
bors who need il TO liquidate their foreign debt
at runous premium over silver. and the lAbur
ing men and women OF the land most defence
less Of all will lind that the dollar received for
the wages of their toll has sadly shrunk in its
purchasing power.
1t may be said that the latter result will he
temporary and that ultimately the price OF labor
DE adjusted 10 tn6 C0anRe, DuJ even IL nils L8heS
place, tn. wage worker cannot pesssbly tain
but must inevitably losesinee the price he is com
PEELED to pay for his living will not only be mas
ured in a coin heavily deprecated and huxuat-
ing and uncertain in its value but this uncef-
tainty in value of an the purchasing medium
will be made pretaxt for an advance IN prices
beyond dat justified by actual depreciation.
fhe words uttered in 1894 by Daniel Webster,
in the senate of Che Omitted States are true to-day
The veSy OF all others who has the deepest
inte-0t n a sound currency, and who safers
most by mischievous legislation IN money mat
tiers, Is nno man who earns his daily bread by his
dasy toll. The most distinguished advocate Of
hi IsetaEs1L discussing silver coinage hos
lately wriaen: No American citizen has fen
the sensation OF cheapHess either in reoeiv-
aSd those who live BY labor or legitimate trade
never will feel that sensation OF cheapness. How
ever plenty silver dollars may become they viii
not be distributed gifts among the people,
and IL the laboFing maa should receive four de-
preciated dollars where he now receives but two,
he wIn pay in the depreciated coin more than
double the price he now pays for all The neosssa-
ries and comforts OF life.
Those who do not fear any disastersus conse-
quences arising from the continued compulsory
coinage of silver as now directed by law and who
srIppose that the addition and the currency Of
the country intended as It's result viii be public
benefit, are reminded that history demonstrates
that the point is easily reached In the attempt 70
float at the same time two sorts Of money Of DIFF
ferent excellence when the better will cease 70 be
in circuIatson. The boarding Of gold which has
already taken place, indicates that we shall
rot escape the usual experience in such cases.
So IL this silver coinage be continued we may
reasonably expect Il 1T gold and its equivalent
will abandon the fs ! of circulation to silver
alone. This Of cours must produce severe
contraction Ct our ei' lating medium instead
Of adding to 1t. 1t wi. be disputed that any
ATTEMPT on the part Of tho govern Iment 10 cause
the circulation OF silver 3ollars worth eighty
cents side By side with god dollars worth one
hundred cents even with the limit OF that egisiar
ton does not run counter Of the laws OF trade.
To be successful il must be seconded by the a
fdence OF the people, IN order that both CONS
will retain the same purchasing power ana oe
interchangeable at will
SrseciaI effort has been made by the secretary
OF the treasury 70 increase the amount OF our
silver ccin in circulation, but the fact mat urge
share Of the limited amount thus put out has
soon returned 10 the subfreasury in payment o.
duties leads TO the belief that tie people DO not
now desire to keep Il in hand ami this. with the
evident respecton TO hoard gold give rise 70 the
suspicion that there already exists lack OF con,
hdence among the people touching our nnahciad
process
There is certainly NOT enough siyer Bow in cir
culation 70 cause uDeasiDess, and he whole
amount coined and now on hand might after
time be absorbed b. the people without aDPrr-
hension: but it Is the ceaseless stretD that
threatens 70 overflow the land which car ses fear
and uncertainty What has been thus Tar sub
70 considerations Of home nature, unconlected
with the bearing which the policies OF oth.T nar
tons have upon the question; but II IL perfectly
apparent that q term Of action ia regard TO cur
currency cannot wisely be settled upon or per
sisted IN without considering the attitude OF TIE
subject of countries with whom We maintain IN
tercourse through commerce, trade and tsayeL
the act by virtue or which our silver dollar u c1n
r,,iafiv e-fnad II ryrovides that the pres3d ent