The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1885-12-10
NEEDS OF THE. NATION.
TAXATION AND TARIFF EXHAUST
WELY DISCUSSED.
No puties ON Necessities-No Moro Silver
DOllars Should b0 C0ined-Civn Scr.
vice-The Chinese-Our Coast-Ths
Eavy-Other Important Issues.

shows that our relations with foreign pow.
ers continue to be friendly. There are nc
questions Of difficulty psnding with any
foreign govsrnmsnt Alluion ID made to the
appointmsnt Of Mr.. Kelly - minister to
Austria and his rejection BY that country.
The reasons advanced by Austria asking for
the wit.drawaf OF Mr.. Kelly were such a
could Mt be acquiesced in by the president
without violating his cath Of offica He has
made no new nomination and the interests
Of tho governmens at Vienna, arc now In
The care OF tho secretary Of legation.
| Concerning tho isthmian canal, the presi-
dent says the interest OF tho United States
In . practical transit for ships across the
isthmus has been repeatedly manifested dur
ing the last half century, and whatever high
way may be constructed across the barrier
must be for the worlds benefit, trust for
mankind to be removed from tho chance of
domination by any single power, nor should
it become Q point for invitation for hostili-
| ties, or prise for wariike ambition, toward
such realization the efforts Of this admins
tration win be applied.
The Chinese question in the western states
despite restrictive legislation il far from
satisfactory, but all the power Of the gov
ernmant should be exsrted to maintain the
ahlest good faith toward China in the treat
msnt Of emigrants from that country.
On the fishery question the president
recommends that congress provide for q
commission In which the governments of tho
United States and Great Britain shall be
represented. charged with the settlement Of
the entire question Of the two countries
he urges legislation to make the recently
concluded treaty with Mexico effective.
OF international copyright. be saH 1t Is
certainly desirable to bring about the OBJ
ject in view.
Tho inadequacy Of legislation touching
citisenship and naturalization il brought to
the attention Of congress Il Is, important
that the right Of alien domicile, asl distin-
guished from federal natmnliEatiuu. bo de-
fined.
he urges . recast Of appropriations for
the consular and diplomatic service on q
footing commensurate with the Importance
Of our national interests, and advocates q
system Of consular inspection.
In reviswing tho reports and recommeuda-
tons Of his cabinet officers, the presidentfrst
takes up tho report Of Secretary Manning
and discusses the tariff and currency and
coinage question. OF the tariff, he mys: =
"The fact that al revenus are IN excess Of
the actual needs Of an economical admins
tration OF the government justi6ss reduc-
tion in the amount exacted from the people
for it, support Our government il but the
means established BY the viii Of q free peo-
pie BY which certain principles are applied
which they have adopted for their benefit
and protection; and it is never better ad-
ministered and it il never better observed
khsj. A.xr sk~
port II scrupulously limited to the actual
necessity Of expenditure and distributed 90
cording to just and equitable plan.
"The proposition with which We have to
deal is tho reduction Of the revenue received
by the government and indirectly paid by
the people from customs dutiea The ques-
tion Of free trade is not involved, nor is there
now any occasion for the general discussion
Of the wisdom or expediency Of protective
system. Justice and fairness dictate that in
any modification OF our present laws relat-
ing to revenue, tho industries and interests
which have been encouraged by such LAWS
and in which our citizens have large invest
ments should not be ruthlessly injured or
destroyed. -
1--WE should also deal with the subject in
such manner a. to protect the interests Of
American labor which is the capital of our
workingmeD; its stability and prop,r re-
muneration furuish the post justifabls pre-
text for protective policy. Within these
limitation q certain reduction should be
made in our customs revenue. The amount
Of such reduction having been determined,
the inquiry follows where can it best be re-
mitted and what articles can best be released
from duty in the interest Of our citizens? Il
. 81 think the reduction shall be made in
the revenue derived from a tax upon tho
imported necessaries Of LIE. We thus di-
rectly lessen the cost of living in every fam
ily of the land, and release to the people in
every humble home q larger measure OF the
rewards of frugal industry" .....
Nothing more important, he says, than
the present condition Of our currency and
coinage can claim the attention of congress.
The very limited amount Of circulating Ma
tional bank notes compared with the amount
the law permits them to issue indicates that
the volume of an circulating medium may
be largely increased through this istrumen-
tality.
On the silver question he takes strong
grounds in favor Of suspension of the coin
age of silver dollars. The authority to coin
money, given to congress BY the coustitu-
ticn, If it permits the purchase Of bullion in
any event does not justify coinage to an ex-
tent beyond the amount needed for q sufi-
Gent circulatory medium. The desire to
utilizs the silver product Of the country
should not lead to misuse or the perversion
Of this power.
The necessity for such an addition to the
silver currency as is compelled by the silvep
coinage act, he says, is negatved by the
fact tnat up to the present time only about
Fifty millions of the 2l5, ,00O, 600 silver dol
lars coined since 1878 have found their way
into circulation, leaving more than S165 ,OOO,-
O0O in the possession of the government, the
custody Of which has entailed consider
able expense for the construction of vaults
for its deposit.
Against this latter amount there are out
standing silver certificates amounting to
about SOS, 10000 Every month two mil
ions Of gold in the putdc treasury arc paid
,ut for two millions or more OF silver dol
lars to be added to the idle mass already ac-
:umulated. II continued long enough this
operation will result in the substitution OF
silver for all the gold the government owns
applicable to its general purposes 1t will
not do to rely upon the customs receipts OF
the government to make good this drain OF
gold because the silver thus coined having
been made legal tender for all debts and
iues pubic and private At imes during
the last six months 1S per cent. OF the re-
:eipts for duties have been paid in silver or
kilver certificates, while the average within
that period has been 20 per cent.
The proportion of silver and its certif-
Gates received by the government will
increase as time goes on. for the
reason that the nearer the period approaches
when it will be obliged to offer silver in pay
ment of its obligations, the greater induce
ment there will bs to hoard gold against de-
probation 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
from circulation then will ba ap-
parent the difference between the value OF
the silver dollar and a dollar in gold, and the
two coins will part company. Gold, still
the STANDARD of value and necessary in our
dealings with other countries, will be at
premium over silver; banks which have sub
stituted gold for the deposits Of their Gus
toners may pay them with silver bought
with sucn gold, thus making a handsome
profit; rich speculators will sell their
boarded gold to their neighbors who need it :
to iquidate their foreign debts at ruinous
premium over silver, and the laboring men
and women of the land, most defenseless Of
all, will find that the dollar received for the
wage of their toll has sadly sbrunk in its
y::-ch :s;.- rc'-e-