Southern standard. (McMinnville, Tenn.) 1879-current, 1885-12-12

trade is not involved, nor is there
now any occasion for general dis
cussion of the wisdom or eXpediency
of q protective system. Justice and
fairness dictate that in any modifica-
ton of our present laws relating to
revenue, the industries and interests
which have been encouraged by such
laws, and in which our citizens have
large investments, should not be
ruthlessly injured or destroyed. We
should also deal with the subject in
such manner as to protect the inter-
ests of American labor, which is the
capital of our workingmen; its sta
bility and proper remuneration fur
nish the most justifiable pretext for a
protective policy. Within these limi-
tations a certain reduction should be
made in the customs revenue. The
amount ofsuch reduction having been
determined, the inquiry follows?
Where can it best be RENTED, and
what articles can best be released from
duty, in the interest of our citizens!
/ think the reduction should be made
in the revenue derived from a tax
upon the imported necessaries of life
We thus directly lessen the cost OF
living in every family of the land
and release to the people in every
humble home a larger measure of the
rewards of frugal industry.
THE NATIONAL BANKING SYSTEM
During the year ended Nov. 1, 1885
l45 national banks were organized
with an aggregate capital of 1898,
600, and circulating notes have beer
issued to them amounting to $4,274,
10. The whole number of thesC
banks in existence On the day above
mentioned was 2,72k The very linn
tied amount of circulating notes issueC
by our national banks, compared
with the amount the law permit
them to issue upon deposit of bond
for their redemption, indicates tina
the volume of our circulating medium
may be largely increase by their in
strumetality. Ief|'Ii
THE SILVER COINAGE.
Nothing more important than tn
present condition of the currency an,
coinage can claim your attention
Since February, 1878, the Govern
ment has, under the compulsor
provisions Of law, purchased silve
bullion and coined the same at tn
rate of more than 100000 ever
month. BY this process, up to tn
? present date, 21j, 759, 431 silver dollar
have been coined. A reasonable az
, probation of a delegation of powt
, to the General Government woul
limit its exercise without express n
l strictive words to the peoples neet
and the requirements of the publ
welfare. Upon this theory, the al
I thority to "coin money" given
i Congress by the Constitution permi
the purchase by the Government
t bullion for coinage in any event, do
: not justify such purchase and coinal
3 to an extent beyond the amour
needed for a sufficient. circulatir
V medium. The desire to utilize Il
Il silver product of the country shou
n not lead to a misuse or the perversiC
= of this power. The necessity for SUI
a an addition to the silver currency
o. the nation as is compelled by Il
d silver coinage act is negatived by Il
l. fact, that, up to the present tim
e only about 5O,OOO,OOO of the silv
Il dollars so coined have actually fOul
o their way into circulation, leavil
is more than $165,0OO, 600 in possessi,
,e of the Government. Every mon
At $1,000, 900 of gold in the public tres
l. ury are paid out for two millions
9. more of silver dollars to be added
II the idle mass already accumulate
II If continued long enough this opel
n ton will result in the substitution
silver for all the gold the Governme
owns applicable to its general pl
poses. 1t will not do to rely up
the customs receipts of the Govel
o. ment to make good this drain of go
n because the silver coined having be
y. made legal tender for all debts a
III. dues public and private at times d
at ing the last six months IS per ce
IN of the receipts for duties have be
r. in silver or silver certificates while
average within that period has be
20 per cent. The portion of sil'
in and its certificates received by
O. Government will probably incre
It, as time goes on for the reason that
Mt naorar fbn ,Nari0H o,n,,roaohoc xt,l