Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1885-12-05
What the People Owe and the
Wherewithal to Pay
Their Dsbts.
a Good Deal to Say About the
Important Question Of Gold
and Silver,
Win .Slaaces at other Questions
Of Vital Interest to The
Country.
A Bus1NEss-L1KE PAPER

n BOS1R Es9S9-AALAE EAFEFI
The following selections from tire very
lengthy report Of tas Secretary Of the Treas
4 ury present in g compact form thsss subjects
which are most tas objsets Of popular in
terest:
The act Of February 25 1862 (R. 8. g. 6sS.
86S9l, requires one per csutum OF the sntire
debt 81 tbs United States 70 bs annually sss
apart - a sinking fund ana applied to the
purc5Axs or payment OF the public debt. in
Euc@n1nner as the Secretary Of the Treas
ury may m a tiH-s to time direct, together
y VITA a SUN equal GO tia interest on AL bonds
= 70 redesmed; and the act OF April IL 1876
10 Stat 88l, provides that fractional eur
rency redeemed BY the Treasury shall also
forS a part of the sinking fnnd
Under the above provisions Of law, United
States bonds ana fractional currency 10 the
amount Of S45 60a, Csc. 43 were redsemsd
aBd applied 20 the fund during tie pass fiscal
year.
The requirements OF the fund for the pres
ent fiscal year. compared upon the same
basis az in former years. will aggregate
$40, 600, 600. IL Il believed, however, that
she intent Of the law viii be fully complied
with H. IN dstermiuing the amount 70 be
applied 10 the fund, the aggregate Of the
various coin and currency certificates which
ere held In the IreaEurer's cash, as we'll as
T rhG cash In the Treasury available for the
reduction OF the debt and the amount held
as a reserve for the redemption OF United
States notes under tire redemption act, shall
De deducted from the outstanding prin eipal
Of the debt, and tins bonds issued 20 tina sev-
sral Pacific railroads added thereto. The
amount required 10 b applied under this
nsthSd, including interest on bonds preTi-
cusly redeemed, fascinated st $40, 200. coo.
UNITED STATES BONDS.
On Noveuber I, 1854. the outstanding
bonds OF the 3 per cent. loan OF the act OF
July I2, 1889, amounted 70 S2O4, DIS, ESQ.
OF this amount, $40. 600, 600 had been called
September 20, 1884, and ceased to bear in
tsrest November l, 1884.
The reduction in The annual interest charge
~ reason Of the changes during the year
ended October 81, 1855, Is As follows:
On bonds redeemed or interest
bonds -...........-. al3 90
Net reduction. S3o9, $50 so
PUBLIC MONEYS.
The monetary transactions Of the Govern
meAt have baen conducted through the Of
fces Of the Treasurer Of she United States,
nins assistant tressurera aRd enc hundred
and forty-one national-bank depositsries.
The gross re sIFts 81 the Government,
amouRtiag during the hzeal yesr, as shown
BY warrants, TO ihe sum OF S5OS, So COS. SS,
muulA - .s a.3 II whoa were en- account OF
- :. - 80 s. sssslsSsts'
-~--4e-S~ " S4S1. olo, es5 90
3I Ssass.ii jj6shE I,epo fries. il7'e76'ol4 %
w T'4sEvise VI the large r7velnsRt Of msnoys
by tire sxci.ar= Of standard silver
H3~7nr4fer silver oerIet zee! the deposits OF
- Ausiers IL. axcb H e. Ter like certificates,
N NES ~ rsdsil ptiCnlf' fractional silver coin,
NJ - Jtias oil AZ cfcHrs aud employees Of the
f-Fr Sc TrranFlw
- - ahsI wrIld therefore, recommend
y It ip,ary % H4aGs b. Congress - TO TIE
Eeanveopitian Of these offices, and such
ne. Yet Ls adopted as raEy be deemed
TIE ~zssions with the nationaI-bank
Seposi ties he besn made with great
eco1u1f to Treasury and 60 tie entire
satisfapl on Of officers.
cURhESoT , oRlf-rAxATIoN RKFoRl.
a review ofIa several groups az laws
on Is ls the lry Of tse SsCrstsTy Of the
1IsAsury 70 Rdlnistsr, nanifests, as in
SulIy into the 3 mess OF the country does
hIe1t need ofeforIn In ths state Of our
es y Ana n present scEsgus OF our
-tien. bora 10 legacles Of var. They
| o. uAaccouAtabl except by tue light of the
events which aiFosed tlair ari.in aud tgeir
~Cuss- Their CO EinuaRcs FOR so long a
.e sIHcet thouEh disoreditaoie, IL perhaps
;p-ihsd oy that sgres Of prosperity cen
1 tbs oesllsS th'n which Is 50 far beyond
-.
80 = ulles ana clsGy war-hesls are an an
IsI q sshse, aEl where more restricted
TH1Lty ana trade entails heavier burdens.
sstiIesA-.y our prosperity might well seem
- ss....l9ugh ia fact, ever siueo Tue
wStff been ifselsrabY abridged by an
un gisancial policy. hnt the continuing
dspyrsa uniyerssl 10 varying degrees over
ths Wolobliges us ali now 70 consider and
undsrtHoms reforms wBl-h eur surplus
revsRn,ake feasible.
Thessorps invite Eud exact the bsss
eNeTts ,merioan state ruanSEip. Neither
party k-cspsd the danger OF defending,
as COED lie which both parties are merely
gsttinEd to. Men OF both paTL!ss, public
msn cor SAINT With public affairs, ava men
absorhan earning thsiT livelihood, have
Essn III t. inhugncs from the great foTcs
81 exais which all governments carry;
an6 Sc tbsliof has spread that taa disorder
Of eur c-ency 10 Kind Of order, that the
mixtufI private jobs nnd past public needs
IN eur ia IL system Of PTotsstion 20
Amsrie labor.
CURRENCY EEFORM.
Curry reform Is frat in the order Of
tmnartae REd d tiEas, and City prsesdss
other rns, even IaEauon reform, be-
cause iE NJ facilitate ali other reforms, and
Because can BOT be safely eatsTrsd. Tbs
esiuage a. Of 1873 IL overlooking ths minis
with uRsued, ths uub-trsasurles with re-
turned Sisr collars, and viii uusvoidsbly
convert O. funds Of the Treasury into those
ssprecistd and Jspr9clntirE coins,
Ths dis-derH Of eur Currtncy chiefly arise
rem the perAtion Of Iwo ruautmsuts:
Fuut--1he act OF February 2S, 1878,
-. which hls been construed e. = pernns nont
appropriation ~for perpetual Treasury pur-
ohases OF 80 least go. 600 OJJ worth OF sill
yer Per snnuu, aIthouFh from causes mostly
koreIgH that metal Is aow OF nauJa BE aud
falling value, which must be manufactured
into coiss Of unlimited legal tender aud is
sued 20 the psopls Of tie United States as
equiv leBts OF our monetary unit.
6econd-Ths act OF Nay 81, 1878, which
indefinitely postponed fulhlmsnt OF the sol
suan pledge tMArch Is, 1897 net suly Of
''rsdemptionN Uut also o. payment Of all
ths ohis atoms Of ths Unitsd States nos bssT-
ing interest, lsgslssi &c &S46, 600, 900 pa
Per money Of unlimited lsEal-tender, and re-
luirsd the post-rs6emptiOH issue aRd reissue
Of these promises 10 pay dollars, as eQuivA-
Leuts OF cur mpnerlry unit
But thsFs two evils, islcb ars zach q Eep-
arats menace 10 the public tranquility ard
injurious 20 tbs pubic morals aud the public
faith, dc net double the difficulties Of re-
Term Of tho currency. laglr concurrence
may even assist Congress 20 provide the pao-
gis OF the United Etstas vita better cur
rsncy thar the best now psssegssd by auy
nations currency in which every dollar
aots shall 10 tns representative certificate 81
q csfh dollar actually in the Treasury and
pSyaels o0 demand: a currency ia which
our monetary uult coined in gold $780,
600, 0OOl and its equivalent oeinsd ia silver
tS3lB, 0OO, COO shall u1g bs suffered TO part