Salt Lake evening Democrat. [volume] (Salt Lake City, Utah) 1885-1887, 1885-12-09


The following are given as prominent
articles of import during the wear, with
their values and the percentage they bear
to the importation
ARTICLES. VALUE. PER CT.
Sugar and molasses. IS 76,73S,713 1925
Coffee. ................ 46,723,31S sos
Wool and its manufac-
lures. 80. ............. 4i,6564s2 7.7a
Silk and its manufac-
lures. .......:......... 4O,393OO2 Cos
Chemicals, dyings and
medicines. ............ 35,070,S16 6.07
Iron and steel manufac-
lures. ................ 34,563,Gs9 sos
Flax, hemp, jute and
their manufactures. 32,s54,s7i 5.6G
Cotton and its manufac-
lures. ................. 25,152,OOl 4.Ss
Hides and skins other
than fur skins. ....... 20,5S6,4f3 3.5t
OF the entire amount OF duties collected
20 ',er cent. was collected for the follow.
ing articles of import: Sugar and molas
ses, 29 wool and its manufactures, 10
silk and its manufactures, s; iron and
steel and their manufactures, Z; cotton
manufactures, @; flax, hemp and jute and
their manufactures, 5.
The fact that our revenues are in excess
OF the actual needs OF an economic adj.
ministratlon of the Government justifies
reduction in the amount exacted from
the people for its support. Our Govern.
ment is but the means established by the
will of Il free people by which certain
principles are applied, which they have
adopted for their benefit and protection
and it is never better administered 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.
tributed according to a just and equitable
plan.
The proposition with which we have to
deal is the reduction OF the revenue re.
ceived by the Government and indirectly
paid by the people from customs duties.
The question oil free trade is not involved,
nor is there now any occasion for the gen.
eral discussion of the wisdom or ex-
pediency of protective system. Justice
and fairness dictate that in any modiica-
ton oil our present laws relating to
revenue, the industries and interests
winch have been encouraged by such
laws, and in which our citizens have large
investments should not be rutblessly in
jured or destroyed. We should also deal
with the subject in such manner as to
protect the interests OF American labor,
which is the capital OF our workingmen.
Its stability and proper remuneration
furnish the most justifiable pretexts for a
protective policy. Within these limita-
tons q certain reduction having been
determined, the inquiry follows, where
can 1t best be RENTED and what articles
can best be released from duty in the in
terest OF our citizens? L think the reduc-
ton should be made in the revenue de-
rived from tax upon the imported neces-
saries OF life. We thus directly lessen
the cost of living of every family in the
land and release TO the public in every
home larger measure OF the rewards OF
industry.
TIE NATIONAL BANKS.
During the year ended November LIST,
1885, l45 National Banks were organized
with an aggregate capital of 1853 900,
and circulating notes have been issued to
them amounting to $4,274,9lO. The
whole number OF these banks in exist
ence on the day aforementioned was
2,727, The very limited amount of cir
cu'atlng notes issued by our National
banks, compared with the amount the
law permits them to issue upon deposit
OF bonds for their redemption, indicates
that the volume of our circulating medium
may be largely increased through their
instrumentalty.
THE SILVER QUESTION.
Nothing more important than the
present condition OF our currency and
coinage can claim your attention. Since
February, 1878, the Government has
under the compulsory provisions OF law,
purchased silver bullion and coined the
same AT the rate OF more than $4,000 600
every month. by this process, up to the
present date 2l5,759, 43l in silver dollars
nave been coined. A reasonable appro-
prlatlon or delegation Of power to the
General Government would limit its ex-
efcise without express restrictive words,
10 the peoples needs and the require
lnen's OF the public welfare. Upon this
tneory, the authority "to coin money"
gwen Congress by the Constitution, if it
permits the purchase by the Government
OF the bullion for coinage, in any event
docs not Justify such purchase and coin
age TO an extent beyond the amount
needed Tor sufficient circulating medium
me desire TO utilize the silver product of
the country should not lead to II misuse
or the perversion OF this power. The
necessity for such an addition to the silver
currency OF the nation as is compelled by
THE SILVER COINAGE ACT,
Is negatiyed by the fact that up TO the
present time only about 10000 900 of sill.
yer dollars so coined have actually found
Their way into circulation, leaving more
than l65,000,000 in possession of the Gov
eminent, the custody OF which has en-
tailed considerable expense for con
struction OF vaults for its deposit. Against
tnis latter amount there are outstanding
silver certificates amounting to about
S93 100000, Every month 81, 900 600 ri
gold IN the public treasury is paid ont for
S2,0O0,0OO or more Of silver dollars TO he
added TO the idle mass already accnmu-
lated. Ii continued long enough. this
operation will result in the substitution of
silver Tor all the gold the Government
owns, applicable to its general purposes
II Will not do to rely upon the REGENTS of
me Government to make good this de.
cline OF gold, because of the silver Thus
coined, having been made legal tender
Tor all debts and dues, public and private
Al times during the last six months. 5s
per cent OF the receipts for duties have
been IN silver certificates, while the aver
age within that period has been 20 per
cent. The proportion OF silver and lis
certificates received by the Government