The times. (Owosso, Mich.) 1882-1897, 1886-12-10

H0lIlOtlc Cttiltu ftjolcco III tLo constantly
American citizenship. and in the glory
or our national achievements and progress, q
sentiment prevails that the leading strings Use
great extent be discarded In tho present stag o
of American ingenuity, courage and foarless
so; so rel And for the PRIVILEGE OF indnig
asm, our citizens are quits willing to forego an
Idle surplus in the public treasury. And all
the people know that tho average rate OF
IN time of peace, is but little loss,
while upon some articles Of necessary
consumption, it is actually more than
borne at a time when the Governm mt
needed millions to maintain by a war the safety
and integrity OF the United States.
REVISION OF THE REVENUE LAW.
It has been tho policy Of the Government 20
collect ths principal part Of its revenues q
tax upon imports, aud no change in this police
10 desirable. But the present conditi n OF
affairs constrains our people t. demand that by
N revision OF our revenue laws the re-
ceipts of the Government shall be re-
duced to the necessary expense OF its
economical adm inistration, nnl this de
mand should Le recognized and obeyed by
tho peoples representatives in une legislative
branch OF the Government Ia read lust ng the
burdens of Federal taxation sound public
policy requires that such of our citizens ~
have built up large aud important Industries
under present conditions should not be sud
denly, and to their iniary, deprived of advan-
tages to which they have adape their business |;
but IL the public good requires it. they should
be content with such consid Grafton us shall
deal fairly and cautiously with their interests,
while the just demands OF the people for lief
from needless taxa ion is honestly answered.
A reasonable and timely submission to
such q demand should certainly be possible
without disastrous shock to any interest, and q
cheerful concession sometimes averts abrupt
and needless action. often the out5rowth Of i'm
patience and delayed justice.
THE AMERICAN LABoRER.
Due regard should BIO also accorded in any
proposed readiustment to the interests
are involved. We congratulate ourselves
that there is among us TO laboring
class. fxed within unyieldin bounds, and doom
fate of daily toll. We recognize in
labor a chief factor in the wealth Of tho
republic, and We treat those who have IT
In their keeping as citizens entitled to the most
careful regard and thoughtful attention This
regard and attention should be awarded them,
not only because labor is tho capital OF our
workingman, justly entitled to its share OF
Government favor, but for the further and not
less important eason that the laboring man.
surrounded by his family in his humble home,
is virtually interested in all that chenpens tho
cost of living and enables him to bring within
hrs domestic circle additional comforts and
advantages. This relation of the workingman
and the manner in which it palpabiy Influences
the question OF wages, should not be for gotten
in the justifable prominence given to the proper
m ma, ten, OF the SUPPLY anu proteoton OF
gest such an arrangement Of Government reve-
pues as shall reduce the expense OF living,
while it does not ourtail the opportunity for
work nor reduce tho compensation of American
labor and injuriously affect its condition and
the dignifed place it holds in the estimation Of
our people.
But our farmers and agricultur,s.s, those who
from the soil produce the things consumed by all
are perhaps more directly and plainly concerned
than any other Of our citizens in d Just and care
full system of Federal taxation Those actually
engaged in, and more remotely connected with,
this Kind of work number nearly one-half Of our
population; none labor harder or moro cortinu-
ously than they. No enactments limit their
hours of toll, and no Interpolation Of tho Gov
ornment enhances to any groat extent the value
Of their products and yet for many OF the
necessaries and comforts of life, which tho most
scrupulous economy enables them to bring into
their homes, and for their implements of
husbandry. they are obliged to pay price large
II increased by an unnatural profit. which, by
more favored manufacturer recommend that,
keeping in view all these considerations, the
increasing and unnecessary surplus OF national
income annually accommodating be released to
the people, by an amendment to our revenue
laws. which shall cheaper tho price Of the
necessaries Of life, and give freer entrance to
such imported materials as, by American labor,
may be manufactured into marketable COM
modities. Nothing can be accomplished, how
ever, in the direction of this h-needed re-
form unless the subject Is approached in a
patriotic spirit OF devotion to the interests Of the
entire country aud with o willingness TO yield
something for the whole good.
THE PUBLIC DEBT.
Tho sum paid upon the public debt during the
fiscal year ended Juno 80 1886, s44, 551 &c.
During the twelve molths ended October 81,
1855 three per cent bonds were re. called ioI re-
$50, CAS- 200 was so called to answer the require
ments of the law relating to tho sinking fund,
and 5000, 600 for the purpose Of reducing the
debt by application OF part OF the surplus
in the Treasury to that object. OF the bonds
thus called sio2, 969, $50 became subject under
such calls. to redemption prior to November
1, 1886. The remainder, amounting to
$3.50, l36, $50, matured under the calls after
that date. In addition to the amount
subject to payment and cancellation prior to
November 1, there were also paid before that
day certain OF these bonds with the interest
thereon, amounting to $5,0i2.3j0, which were
anticipated as to the maturity, of which s2664,-
$50 had not been called. Thus S107, 341, 300 had
been actually applied prior to the 1st OF No
vember, 1886, to the extinguishment Of our
bonded and Understanding .ebt leaving on
112. OF this amount $50, 6487O0 was still rep
resented by 3 per cent bonds. They, however
have been since November IA, or will at once
which have been called, as already stated, but
not redeemed and Cancelled befors the latter
date.
SILVER COINAGE.
During the fiscal year ended June 30, 1886.
there were coined under the Compulsory Silver
Coinage act of 1873, 20 S3s $40 silver dollars, and
S23, AS, 96O0l. There had been coined up to the
close of the previous fiscal year under the pro-
visions Of the law 203 SS2 55l silver dollars, and
ON the LIST day Of December, 1886, tho total
amount of such coinage was s2i7, l3l549.
The Director of the Mint reports
Of "' the :" law ' Of 1878 " directing this
coinage, the intrinsic value Of the dollar thus
coined was 9iA cents each, and that on July 81,
1885, the price of silver reached the lowest stage
ever known, so that the intrinsic or bullion price
of our standard silver dollar at that date was
~ cents. The price OF silver on November 30
last was such as to make the dollars intrinsic
ally worth 70 cents each. Those differences in
the value of the coins represent but the fiuctua
tions In the price OF silver, and they certainly
do indicate that compulsory coinage by the Gov.
eminent enhances the price Of that commodity
or secures uniformity in its value
CIRCULATING SILVER
Every fair and legal effort has been made by
the Treasury Department to distribute this
currency among the people. The withdrawal
of United States treasury notes Of small de-
nominations and the issuing of small silver
certificates have been resorted to in the en-
sleavor to accomplish this result in obedience
TO the will and sentiments Of the representa-
tives OF tho people In Congress-. On the 9th day
of November, 1876, the people held of these
coins or certificates representing them the NOM
inal sum OF SlG6, 8T3,0il, and we still have S7os
464.345 in the treasury as against about Sl42 s9i
O55 so in the hands Of the people, and S72 855,3t
remaining in the treasury one year ago. The
Director OF the Mint again urges the necessity
of more vault room for the purpose OF storing
fhoo ofIv wv aro moi M adj d fOI