Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1885-12-05


culation OF silver dollars wcrth eighty cents,
side bY side VITA gold dollars worth one
hundred cents, aven with the limit that legis-
lation does not Fun counter laws Of trade, to
he successful must be seconded by the conf
deucs Of the people that both coins will re-
tain the same purchasing power and be in
Interchangeable at viii.
A special effort has been made by the
Hecretary OF the Treasury to increase the
amount Of our silver coin in circulation,
but tbs fact that large share Of the limited
amounts thus put cut has soon returned 70
the public Treasury in payment OF duties,
leads to the belief that the people do not
now desire to Keep il in hand. and this. with
tho evident disposition to hoard gold, gives
rise to the suspicion THAI there already ex-
ists lack Of confdsncs among the psopls
toaohing our financial progress.
THINKS COINAGE SHOULD STOP.
There ia certainly not enough silver now
In circulation 10 cause uneaslness, and the
whole amouns coined and now On hand
might. after n time, be absorbed By tho peo-
pie without apprehension, but IL Is the cease
lsss stream that thrsetens TO overflow the
land which causes fear and uncertainty.
What hes been thus far submitted upon this
subject relates almost entirely 20 considera-
tions Of q home nature. unconnected with
the bearing which tne policies Of other ma
tons have upon the question. But it Is per-
fectly apparent that a line OF action in re-
gard to our currency can not wisely Be
settled upon or persisted In without consider
ing she attitude on the subject Of other ooun-
tries with whom we maintain inter-
eeurse through commerce, trade. and travel.
An acknowledgement of this fact 10 found in
act by virtue OF which our silver is COM
pulsorily coined. 1t provides that ''the
President snall invite the Governments Of
the countries composing the Latin Union
called, and OF such other European nations
rs he may deem advisable, to join the United
States in g conference TO adopt q common
ratio between gold and silver, for the pur-
pose Of establishing internationally the uss
OF bi-metaliic money, and securing nxity Of
relative value between these metals.n
This conference absolutely failed, and q
similar fate has awaited all subsequent ef-
forts In the sAms direction, and stin we
oontinua our coinage OF silver at a ratio
di6srens from that of any other nation.
The most vital part Of the silver coinage
act remains inoperstivs and unsxecuted,
and, without ally or friend, we battle
upon the silver field in an illogical and
losing contest. To give full effect to the
design OF Congress on this subject, ! have
made careful and earnest endeavor since
the adjournment OF the last Congress.
To this end delegated a gentleman well in
Structsd in fiscal science 20 proceed to the
financial centers Of Europe, and ia conjunc-
ton with our Ministers to England, France
and Germany, TO obtain a full knowledge OF
the attitude and intent Of these Governments
in respect to the establishment Of such an in
ternRtionsl ratio as would procure free COIN
age Of both metals at the nints of those
countries and cur own. By my direction
our Consul General nc Paris has given close
attention TO the proceedings of the Congress
Of the Latin Union, in order TO indicate our in
terest In its object. and report its action
1t may be said in brief. as the result of
these efforts, that the attitude of che leading
powers remains substantially unchanged
since the monetary conference of 1881, nor
IL 10 70 be questioned that the views OF these
Governments are in each instance supported
by the weight Of public opinion. The
wsauw
moro fully demonstrated the ussisssness
OF further attempts aE present to arrive at
any agreemsnt on the subject with other na-
tionS. In the meantime we are accumu-
lAting silver CON- basedlupon our own pecu-
liar rates, 70 such an extent and assuming so
heavy q burden to be provided fer in any in
ternAtionAl negotiations as will rem
der as an undesirable party TO any
future nonetary conferences OF nations.
II Is Significant fact that four of the i've
countries composing the Latin union men
toned in eur coinage act, embarrassed with
their silver currency, have just completed
an agrssR1snt among themselves. that no
more silver shall be coined by
their respective Governments, and
shat SUCH As has been already
ccinsd and in circulation shall be redeemed
In gold by the country Of its coinage. The
resort to this expedient by these countries
may well arrest tho attention Of those who
suppose that we can succsed without shock
or injury in the attempt TO circulate upon its
merits all tAs silver we may coin under the
provisions of oar Siiver-coinags act.
Ths condition in which our Treasury may %
placed by persistence in our present course
is q matter OF concern to every patriotic citi-
zan who does not desire his Government to
pay in silver such Of its obligations should
b PAID in gold. Nor should eur coalition
b such es TO oblige US, in prudent man
agsmsnt Of our Affairs, to discontinue the
calling in and payment of DEMONSTRATING
obligations which we have the right now 20
discharge, and thus avoid the payment Of
further interest thereon.
The so-callsd debtor class for whose benefit
the continued compulsory coinage of silver
Is insisted upon, are not dishonest because
they are in debt, and they should not be
suspected Of desire to jeopardzs the
financial safety OF the country, ia order that
they may cancel their present debts oy pay
ing the same in deprecated dollars.
Nor should 10 be forgotten that
IL ts not the rich nor the
money lender alone that must submit to such
a readiustment enforced py the Government
ana their debtors, The pittancs Of the widow
and the orphan and tins incomes OF helpless
benshciaries Of all kinds would be disastrous
ly reduced. Ihs depositors in savings
banks and in other Institutions which hold
IN trust the savings OF the poor, when
their little accommodations ors scaled
down to meet the new order OF things,
would, in their distress, painfully realize tbs
delusion Of the promise made to them that
plentiful money would improve their condi-
tisn. We now have on hand ali the silver
dollars necessary TO supply the present needs
Of the people, and to satisfy those who, from
sentiment, wish to see them in circulation;
and u their coinage Is suspended they can be
readily obtained by ali who desire them. II
the need of more Is at any time apparent,
their coinage may bs renewed.
Capital Uimidly shrinBs from trade, and in
Vostors ETs unwilling 10 take the chance of
the Questionable SbsPs in which their money
will be- returned 10 them, whiis enterprise
balts st q risk against which caro- and
sagacious management de not protect.
As a necessary consequences labor lacks
employ menJ aud suffering and distress are
visited upon portion OF our fellow-ciuzens,
especially entitled 10 the careful considera-
tion Of those charged with the duties OF leg
islation. No interest appeals TO us 80 strongly
for . safe and stable currency as the vast
army OF the unemployed. ] recommend the
suspension Of the compulsory coinage OF
silver dollars, directed by the law passed in
February, 1873.
The steamboat inspection service on the
aDth day OF June, 1855, was composed Of
officers, clerks and messengers. Ihs sxpsuses
OF the service over the receipts were $685.
S22 20 during the fiscal year. Ths special
inspection Of foreign steam vessels, organ
iEsd under the law 81 1852, was maintained
during the year a. an expense OF $50, 64l 90.
Since the close Of the seal year reductions
have been made in the force employed which
will result In saving the current year of
Sl7, 200 withous Affecting the sficisney Of
the service.
The Supervising Surgeon General reports
that during ths hscnl year Al ,7l4 patlsnta
have received relief through Aarius Hospital
1 e. a