The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1885-12-18

Articles. Value. centage
| Cotton and cotton manu-
| facturers. <Sl0.1S@,OaV .y4s
Breadstuffs ........... 6O.3.O.S0 22Oi
| Provisions. ...x....... W, 456 H.7i
| Oils, mineral, Vegetable
and animal. ......-...-.. h,18,a2 S4s
| Tobacco and its manufac-
Wood and its manufac-
Our Imports during the the year We're as fol
Merchandise. $5s9, sc, 0i3 81
Gold ........................ G69l,SG "
IOIuI.. SO~D. cs.,5tO ct
The following are given as prominent arti-
| Giles of imports during the year, with their
values and the percentage they bear to the
total impOrtat'On:
OF the entire amount OF duties collected. 20
per cent was collected from the following ar
ticles of import: Sugar and molasses: ~:
wool and its manuractureS. Is; silks and its
manufactures, S; iron and steel and their
manufactures, 81: cotton manufactures, O:
flax, hemp, jutc and their manufactures, 5.
THE TARIFF.
The fact that our revenues are in excess of
the actual needs of an economical admins.
tratiOn of the Government just'fies reduc.
tton i'm the amount exacted from the people
for its support. Our Government is but the
pie by which certain principles are applied
which they have adopted for their benefit
and protection, and 1t Ia never better admin
istercd and its true spirit is never better
observed than when the peoples taxation
for its support is scrupulOusly limited to the
actual Necessity of expenditure, and dis
trbuted according to just and equitable
plan.
We should also deal with the subject in
such manner AS to protect the interests OF
American labor, which is the capital of our
muncration furnish the most justitiable pre-
text for . protective policy. Within these
limitations a certain reduction should he
made in our customs revenue. The amount
of such reduction having been determined.
the inquiry follows where can il best be re-
mtted and what articles can best be re-
leased from duty in the interests OF our citi.
zens.
think the reduction should be made In
the revenue derived from u tax upon the
imported nccessaries of life. We thus
family of the land. and release to the
people in every humble home u larger meas
urc OF the rewards of frugal industry.
NATIONAL BANKS.
During the year ended November I, 1885,
l45 National banks were organized. with an
aggregate capital of $l6Gss.OOO, and circula-
on notes have been issued to them amount
ing TO s4s74,9lO. The whole number of these
banks in existense on rt the day , above
by our National banks. compared
with the amount the law permits them to is
dcmpttOn. indicates that the volume OF cir.
cuiating medium may be largely increased
through this instrumentalty. Nothing more
important than the present condition OF our
currency and coinage can claim your atten-
ton. Since February, 1877. the Government
has, under compulsory provisions of law,
purchased silver bullion and coined tho
same at the rate OF moro than $3,OOU,OW
every month. By this process. up to present
date. ia. AS silver dollars have been
coined.
A reasonable appropriation or delegation
Of power to the general Government would
limit its exercise without express restrictive
20 pnec
theory the authority to "coin money" given
to Congress by the Constitution. if It permits
the purchase by the Government Of bullion
for coinnge, in any event does not justify such
purchase and coinage beyond the amount
needed for a sufficient circulating medium.
The desire to utilize the liver product of tho
country should not lead to q misuse or the
pervcrsion of this power.
The necessity for such an addition to the
silver currency of the Nation. rs rs compelled
by the silver coinage act, is illustrated by the
fact that up to the present time. only about
51.OO0 0O of silver dollars SD coined have actu-
ally found their way into circulation, leaving
more than ooo IN possession of of the
tailed q considerable expense for c0nstruc-
ton Of vaults for its deposit. Against this
latter amount there %. are ,S outstanding E silver
Every month S:,O00OQO of gold ip tac pub
lie treasury arc paid out for 1900, 0G0 or moro
of silver dollars to be added to the IDLE mass
accumulated. II continued long enough
this operation will result in q substitution Of
silver for all the gold the Government owns.
applicable to its general purposes. 1t win
not do to rely on the customs receipts OF the
Government, the silver thus coined having
been made q legal tender for all debts aud
dues, public and private. At times during
the last six months % per cent OF the receipts
A.rHf As.p~ ,cse~
Gates. while the average within that period
has been 10 per cent.
The portion OF silver and its certificates re
crease as time goes on. Tor the reason that tho
nearer the period approaches when it will be
obliged to offer silver in payment of it's obi
be to hoard gold against depreciation in the
value OF silver, or for the purpose OF sDecu-
lating. This boarding of gold has already
begun. When the time comes that gold has
been withdrawn from circulation then will
be apparent the difference between the real
value OF the silver dollar and a dollar
In gold. and the two coins will part com
pany. Gold, still the standard of value and
necessary IN our dealings with other coun-
tries. will be at premium over silver. Banks
which have substituted gold for the deposits
silver bought with such gold. thus making q
handsome profit. Rich spectators will sell
their boarded gold to their neighbors. who
need It to iiquidate their foreign indebted
ness at q ruinous premium over silver, and
the laboring men and women of the land,
most defenselese Of all, will nnd that the dol.
sadly shrunk in its purchasing power.
IL may be said that the latter result will be
but temporary, and that ultimately the price
of labor win be adjusted to the change. But
even rfthis takes place the wage-worker can
not possibly gain, since the price he is COM
PEELED to pay for his living will not only be
measured in q coin heavily deprecated. fuc-
uncertainty in the value OF the purchasing
medium will be made . pretext for IN adj
vance in prices beyond that justified BY the
The words uttered in 1894 BY Daniel Web.
ster in the Senate of the United States are
true today-'Tbe very man Of all others who
and who suffers most bv mischievous legis,
lation in money matters is the man who
earns his daily bread by his daily toll The
most DISTINGUISHED advocate Of bimetslism.
written: mo American citi.en's hand
sss:DGss:: 81; ssssr .1:. .sssiS,SS
trade never win feel that sensation Of
cheapness. However plenty silver dollars
among the people, and If the lab0ring man
should receive four deprecated dollars
whore he now receives two. he will pay in
price he now pays for ali tho necessarics and
c0mf0rts OF life.
Those who DO not fear any disastrous con-
sequences erising from the continued COM
p1isory coinage OF silver: .s g.: nov directed BY
currency OF the country intended rs it, re.
suit viii be Q public benefit. are reminded
that the point IL easily reached In the attempt
OF different excellence when the better will
cease to be in circulation. The boarding Of
gold. which has already taken place. indi-
exnerience In snch csses ~ ~ thSs -.