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

lures. ..........,... Zl,4O4,JZZ Z.3D
OUR IMPORTS
During the year were as follows: Mer-
chandise, $579, 5S0,053 80; gold, 500, SOL, :
500; silver, $50, 55O,627. Total, 1922, S22,-
1860.
The following are given as prominent
articles of import during the year, with
their values and the percentage they bear
to the importation:
ARTICLES. VALUE. PER CT,
Sugar and molasses.. s 76,738,713 1929
Coffee. ................. 46,723,31S 500
Wool and its manufao-
lures. :. .............. 44,e5s,4s2 7.73
Silk and its manufac-
lures. ................. 4O,393,OO2 6.99
Chemicals, dyings and
medicines. ........... 35,0TO,Sl6 6.OI
Iron and steel manufac-
lures. ................. 34,563,6s9 500
Flax, hemp, jute and
their manufacturers. 32,s54s74 $50
Cotton and its manufac-
lures. 2S,1520O1 1888
Hides and skins other
than fur skins. ....... 20,5S6,4 43 356
OF the entire amount of duties collected,
20 ner cent. was collected for the follow
ing articles of import: Sugar and molas-
ses, 90; wool and its manufactures, Is
silk and its manufactures. s; iron and
steel and their manufactures, Z; cotton
manufactures, 6; flax, hemp and jute and
their manufactures, 5.
The fact that our revenues are in excess
OF the actual needs of an economic adj
ministration 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 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 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 OF free trade is not involved,
nor is there now any occasion for the gem
eral discussion of the wisdom or ex-
pedency OF Il protective system. Justice
and fairness dictate that in any modilica-
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 in
iured 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 n certain reduction having been
determined, the inquiry follows, where
can it best be RENTED and what articles
can best be released from duty in the in
terest OF our citizens? | think the reduce
ton should be made in the revenue de-
rived from a 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.
THE NATIONAL BANKS.
During the year ended November LIST,
1885, las National Banks were organized
with an aggregate capital of SIC, 937 900.
and circulating notes have been issued to
them amounting to $4,274,91O. The
whole number of these banks in exist
ence on the day above-mentioned was
2,727. The very limited amount of cir
cuiating 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
THE SILVER QUESTION.
Nothing more important than the
present condition of our currency and
coinage can claim your attention. Since
February, 1873, the Government has
under the compulsory provisions of law.
silver bullion and coined the
same at the rate OF more than 1000, 600
every month. BY this process, up to the
present date $2l5, 759 ,43l in silver dollars
have been coined, A reasonable appro-
prlation or delegation of power to the
General Government would limit its ex.
erclse without express restrictive words.
to the peoples needs and the require.
menis OF the public welfare. Upon this
theory, the authority "to coin money!
given Congress by the Constitution, il il
permits the purchase by the Government
OF the bullion for coinage, in any event
does not Justify such purchase and coin
age to an extent beyond the amount
needed for sufficient circulating medium
The desire TO utilize the silver product of
the country should not lead to n misuse
or the peryersion OF this power. The
necessity Tor 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 so, 900, 900 of sill
yer. dollars SO coined have actually found
lhelr way into circulation, leaving more
Ihan Id 100000 in possession of the Gov
eminent, the custody OF which has en-
tailed considerable expense for con-
structlon OF vaults for its deposit. Against
ms latter amount there are OUTSTANDING
silver certificates amounting to about
r95uOO,oOO Every month $4,000 900 of
!o % IN the public treasury is paid ont for
rZ,0Ol 900 or more OF silver dollars to be
added 10 the idle mass already accumu-
aled. II continued long enough, this
operation will result in the substitution of
'llver Tor all the gold the Government
owns, applicable to its general purposes
u VIII not do to rely upon the receipts of
ne government to make good this de-
;ilhe OF gold, because OF the silver thus
'olhed, having been made legal tender
or all debts and dues, public and private.
At times during the last six months, 5S
per cent OF the receipts for duties have
oeen IN silver certificates, while the aver
ige within that period has been 20 per
'eni. The proportion of silver and its
received by the Government