Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1885-12-05
Hides and akin. and other
a5e

than fur skins ....... 20, $50 443 asa
OF the entire amount OF duties collected,
20 per cent. was collected from the follow
ing articles OF import; sugar and molasses,
| 20; wool and its manufactures, is; sllk and
| iuy manufactures. g. iron and steel and their
manufactures, z; cotton manufactures 6:
flax. hemp and jute and their manufactures,
| A TARIFF FOR REVENUE ONLY.
| The fact that our revenues are in excess Of
the actual needs Of economical ndminis-
| tration of the Government justi6es rsduc-
| ton in the amount exacted from the people
| Tor its support. Our Government Is but the
| means established by the will OF 9 free peo-
| pie, by which certain principles are applied
| which they have adopted for their benedt
| and protection: and it is never better admin
istered and its true spirit is never better OBJ
served than when the peoples taxa
ton for its support Is scrupulously
limited to the actual necessity of expendi-
ture aud distributed according to just and
equitable plan. The proposition with which
we have to deal Is the reduction OF the reve-
nus received by the Government and indi-
reetly paid by the people from customs
duties. The question OF free trade 10 not
involved, nor Is there now any occa-
| sion for the general discussion of the
wisdom or expectancy of q protective
system. Justice and fairness dictate that
in any modification of our present.
laws relating TO revenue, the Industries and
interests which have been encouraged by
sdcn laws, ana 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 pro-
tect the interests of American labor, which
Is the capital OF eur working men; It's stabiI-
ity and proper remuneration furnish the
most justifiahe pretext for a prot ectiVe pol.
icy. Within these limitations, accordingly.
reduction should be made in our customs
revenue.
The amount of such reduction having bean
at al he Fol
IL be RENTED and what articles can best
be released from duty in the interest of our
own citizensi | think the reduction should
be made in the revenue derived from Q tax
upon the imported necessaries of life. We
thus directly lessen the cost of living in every
family of the land and release TO tins peo-
pie in every humble home a larger meas
ure Of the rewards Of trugalizinG.
ON SILVER COINAGE.
During the year ended November 1, 1888.
las national banks we organized, VITA an
aggregate capital of SIS, 93S 600, and cir
culating notes have been issued to them
amounting To 81, ga, $40. The whole num-
Der of these banks in existence on the day
above mentioned was 2,727. The very
limited amount OF circulating notes issued
ths amount the law permits them
to issue upon q deposit of bonds
for their redemption, indicates that
the volume Of our circulating medium may
b6 IdTRSly Increased LQTOuEu LnlS lnSbTu-
mentality. Nothing more important than
the present condition Of currency and
coinage can claim your attention. Since
February, 1878, the Govern nlent has, under
the compulsory provisions of law, purchased
silver bullion and coined the same at the rats
of more than So. 900, 900 every month. By
this process up to che present date 217,-
759.43I silver dollars have been coined. A
reasonable appreciation OF q delegation
Of power to the General Cover nment
"A F. fhrs4f
restrictive words TO the peoples needs and
the requirements of the public welfare. Upon
this theory the authority to ''coin money!
given to Congress by the Constitution, it 10
permits the purchase by the Government of
bullion for coinage in any event, does NOS
justify such purchase and coinage to an ex-
tent beyond the amount needed for q sutfi-
cient circulating medium. The desire to
utilize the silTer product Of the couRtry
should not lead TO a aisuse or the perversioR
of this power. The necessity for
such an addition to the silver cur
rency of the nation as Is compslled
by Ehs Silver-coinage Act, is inegativsd by
the fact that up to the present time only
about fifty millions of silver dollars so coined
have actuslly found their way into circula-
ton, leaving more than l65, OOO, 600 in the
possession OF the Government, the custody
of which has entailed a considerable expense
for construction OF vaults for its deposit.
Against this latter amount there are out
standing silver certificates amounting to
about 500, 800 900. Every month 81, 000,-
900 of gold in the public treasury ara paid
out for Z, 900, 600 or more Of silver dollars
to be added to the idle mass already nc-
cumuated. II continued long enough this
operation will result ia the substitution OF
silver for ali the gold the Governments owns
applicable TO its general purposes IL will
not do to rely upon the customs receipts OF
the Governments to make good this drain OF
gold, because the silver thus coined, having
been mads legal tender for all debts and
dues, publi9 and private, at times during
the last SIX months, Is per cent. OF the re-
ceipts for duties have been ia silver or silver
certificates, while the average within that
period has been 20 per cent.
The portion of silver and Its certificates re-
ceived by che Governments will probably
increase as time goes on. for the reason
that the nearer the period approaches
when 1t will be obliged to offer silver
in payment OF its obligations, the greater in
ducement there will be to hoard gold against
depreciation In the value Of silver, or for
the purpose of specializing. This boarding
of gold has already begun. When the time
comes that gold has been withdrawn from
circulation, then will be apparent the differ
ence between the real value OF the silver dol.
lar and dollar in gold, and the coins win
part company.
FEARS DEPRECIATION IN VALUE.
Gold. still the standard OF value and
necessary in our dealings with other coun-
tries, will be at a premium over silver.
Banks which have substituted gold for the
deposits OF their customers may pay theut
with silver bought with such gold, thus
making q handsome profit. Rich specula-
tors viii sell their boarded gold TO thsis
neighbors, who neee II to lqGidate their
foreign debts, at rulnous premium over
silver, and the laboring men and women Of
the land, most defenssiess OF all, will find
that the dollar received for the wage of their
toll has sadly shrunk in its purchasing power.
1t may be.said that the latter result VIII
be but temporary and that ultimately the
price of labor will be adjusted to the change,
but even If this takes place the wage work.
er can not possibly gain, bus must tnevlta-
bly, lose, since the price hS Is compelled TO
pay for his living will not only be measured
in a coin heavily depre ciated and ductuatinR
and uncertain ia its value, but this uncer-
tainty in tue value of the purchasing me-
dunn will be made the pretext for an adj
vance in prices beyond that justified by ac-
tual depreciation.
The words uttered In 1884 by Daniel Web
ster in the Senate OF the United states ara
true to-day: "The very man Of all others
who has the deepest interest in q sound cur
rency, and VINO suffers most by mischievous
legislation in money matters, is the man who
earns ais daily bread by his daily TOLL"
The most distinguished advocate of BIZ
metalsn, discussing our silver coinage, has
lately written; mo American citizens
baud has yet felt the sensation OF cheapness,
either in receiving or expanding the silver
act dollars"
And those who live by labor or legitimate
trade never will feel that sensation of cheap
ness. However plenty silver dollars may
become, they will not be distributed a. gifts
among the people, and il the laboring man