The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1886-12-09

ing fund and s4G, ,6sa, 200 for the purpose of
reducing the public debt by application of a
part Of the surplus in the treasury to that
obj ct. OF the bonds thus called $40, 800, 450
became subject under such calls to redemp
lion prior TO November l, 1886. The re-
EIaindeF, amounting to $25, ,UI3, $50, matured
under the calls after that date. In addition
to the amount subject to payment and cancel
lation prior to November l there were
also paid before that day certain OF those
bonds with the interest thereon amounting
to >, ,O12, $50, which were anticipated as to
the maturity, of which $2,654, $50 had not
been called. Thus Sl07 ,34l 800 had been
actually applied prior to the 1st of NOvem-
ber, 1856, to the extinguishment of our
bonded and interest-bearing debt, leaving
on that day still outstanding the sum of 81,
l5S, ,443, 1l2. OF this amount $50, SIS, 200
were still represented By per cent
bonds. They, however, have been
since November |, or will Il; once bc further
reduced by So, ,6o6, 15O, being bonds which
have been called, as already stated, but not
redeemed and cancelled before the latter
date.
The Silver Dollar.
During the fiscal year ended June so,
1886, there were coined, under the compul-
sory silver coinage act of 1873, 29, SIS ,905
silver dollars, and the cost of the silver used
in such coinage was So, AS, ,960.01. There
had been coined up to the close of
the previous fiscal year, under the
provisions of the law, 2O3, $50 ,554
silver dollars, and on the first day
of December, 1886, the total amount of such
coinage was S241 l3l ,5I9.
The Director of the Mint reports that at
| the time of the passage of the law OF 1878
directing this coinage, the intrinsic value of
the dollars thus coined was 94f cents each,
and that on the 3ist day of July, 1856, the
price Of silver reached the lowest stage ever
known, so that the intrinsic, or bullion
price of our standard silver dollar at hat
date was less than - cents. The price of
| silver on the 30th day of November last was
| such as to make the dollars intrinsically
| worth 1S cents each. These differences in
value of coins represent the fluctuations IN
| the price of silver, and they certainly do
| not indicate that compulsory coinage by the
government enhances the price of the COM
modify or secures uniformity in its value.
Every fair and legal effort has been made by
| the Treasury Department to Distribute this
currency among the people.
The withdrawal of the United States
| Treasury notes of small denominations, and
the issuing OF small silver certificates,
have been resorted to in the endeavOr to
accomplish this result, in obedience to
the will and statements Ofthe representatives
| of the people in the Congress. On the 9th
| day of November, 1885, the people held of
these coins, or certificates representing them,
|
still had SIS, 464, ,ij in the treasury as against
about Sl42, S9i ,0j5.20 in the hands of the
people, and SD, S65, 1916 remaining in the
treasury one year ago. The Director of the
Mint again urges the necessity of more vault
room room ,, for the the purpose Of Of Stor. @
not needed for circulation by the
people. | have seen no reason to change The
views expressed in my last annual message
on the subject of this compulsory coinage
and ! again urge its suspension on all thu
grounds contained in my former recommen
dntion reinforced by the significant increas'
of our gold expectations during the last year
as appears by the comparative statemen
herewith presented, and for the further rea
sons that the more this currency is distrib
uted among the people the create
becomes our duty to protect it from
disaster; that We now have abundance
for all our needs; and that there seems bu
! little propriety in building vaults to stor
2 such currency, when the only pretense TO
, its coinage is the necessity of its use by tn
r people rs circulating medium.
The Customs Suits.
S The great number OF suits now pending j
a | the United States courts for the southern
c district Of New York growing out of the col
: lection of customs revenue at the port c
J, New York, and the number of such suits tha
L are almost daily instituted are ccrtaini
/ legal controversies, based upon cohhictin
It views by importers and the collector as
e the Interpretation of our present compile
t aud indefinite revenue laws might be largel
: obviated by an amendment of these law,
a But pending such amendment the presen
S condition of this litigation should be re
/ | lieved. There are now pending abor
: twenty-five hundred Of these suits; more tha
eleven hundred have been commenced will
in the past eighteen months, and many
: the others have been at issue fC
= more than twenty-five years. The'
d delays subject the government to loss of ev
C dence and prevent the preparation necessaI
e to defeat unjust and fictitious claims, Will
constantly accruing interest threatens
l. double the demands involved. In the pre-
h ent condition of the dockets of the court
e we'll filled with private suits, and of the fort
1t allowed the District Attorney, no create
% than is necessary for the ordinary and Gu
h rent business of his office, these revenue lit
e cations cannot be considered. In default
l. the adoption by the Congress of
Il plan for the general reorganizatiC
), of the federal courts as has he
: been heretofore recommended. j urge Il
l. propriety of passing law permitting Il
s. appointment of another federal judge in Il
De districts where these government suits hay
o accumulated so that by continued sessions
n the courts devoted to the trial of these cas-
IS they may be determined. 1t is entire
,e plain that great saving to the goyernme
e would be accomplished by such remed
ut and the suitors who have honest CLAIM
rs would not be denied justice through della
+ The War Department.
lg The report of the Secretary of War gives
i'd detailed account of the administration Of
a department, and contains sundry recoI
'r mendations for the Improvement of the 81
c, vice, which fully approve. The army CO
1t sisted at the date of the last consolidated j
ID turn of 2.103 officers and 24,946 e
ni listed enlisted men. The expens
Id of the department for I
Is last fiscal year were $50, 800, 900. .3S, inclu
ing ST., ,294, 800. As for public works and riy
Mt and harbor improvements. l especially
n rect the attention of the Congress to
lr recommendation that officers be required
2. submit to an examination as preliminary
iii their promotion. L see no objection
L. which operated so beneficially in our Ma
IS. Department, as well as in some branches
Ig- the army.
he Coast Defenses and Fortilications.
al The subject of coast defenses and forti6
es, tions has been fully and carefully treat
lie by the Board on Fortifcations, whose rep
he | was submitted at the last session of G.,
,r. | gress; but no construction work of the XII
tr- recommended by the board has been posi-
all during the last year from the lack of app
,es priations for such purpose. The defensel
re- condition of our seacoast and lake front
'or is perfectly palpable; the examinatit
he made must convince us all that certain
on our cities named in the report of the DO;
nd should be fortified and that work on
ro- most important of these Notifications, shol
lps be commenced at once. The work has bt
AN thoroughly considered and laid out, the S
re- retary of War reports, but all is delayed