New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-12-07


| ton is honestly answered.
A reasonable and tin ely submission to such de-
maDd should certainly be possible without disas.
trous shock to any interest: and cheerful
some; lines averts aorupt and needless action
often the outgrowGh OF impatience and delayed jus
tice.
Due regard should be also accorded IN any pro-
posed readjnstment TO the interests of American
labor so FAR MS they are involved We CONGRATULATE
ourselves that there Is among US no aboring class
fixed within unvirlding bounds and Doomed under
all conditions 10 the memorable tate OF daily toll.
We recognize IN labor a cbirf factor in the wealth
OF the republic. and we treat those who have It III
their keeping citizens entitled 20 the r0st care
full regard and thoughtful attention. This regard
and attention shonld be awarded them. not only
because labor is the capital OF our worklngDen,
justly entitled to its share OF Government favor.
but for the further and and not less important iea-
son, that the inboriDg man sui rounded by his
family In his humble home. q consumer is yitaiiy
interested in all that cheapens the cost OF llvlug
and enables him to bring wi hin his domestic cir
Gle additional comforts and advantages:
Thus relation OF the workneme1 TO the revenue
laws of the country. and the manner IN which 1t
papably influences the question of wapcs, should
not he FORGOTTEN in the IuStiable prominence given
to the proper maintenance OF the supply and pro-
lection of well-paid labor And these consldera-
tions suggest such an arrang ement OF Government
revenues as shall reduce the expense OF living
while 1t does not curaIl the opportunity for work
nor reduce the compensation OF American ia0or.
and injuriously affect its condition and the dgn-
fed place It holds ID the esimat on OF our people.
But cur farmers and agricniturists-those VINO
perhaps more directly and plainly Concerned than
any other OF our citizens in inst and careful sys,
tem Of Federal taxation. Those actuai'y ehgage9
in and more remotely connected with this KIND OF
work number nearly One-haf OF our population
None labor harder or more continuously than they.
No enactmeDts im' their hours OF roll. ana no IN
erpOsiIOn of the government enhances 10 any great
extent he value OF their products. AND yet ior many
of the ares and comforts OF life, when the
most scrupulJus economy enables them 10 oring
INTO their comes. and for their implements OF
husbandry, thew are Obliged TO paw price largely
increased by unnatural prCht which, by the
action of the Government. IS gwen TO the more
favored manufacturer.
| recommend that. keeping in view all these con-
sideratlons, the increasing and essary sur
plus of national income annually accommodating be
reea> ed to the people by Al amendment 10 our
revenue laws when snail cheaper tile price OF the
necessaries of life and give freer entrance to such
imported materials rs by American labor may DC
manufactured INTO uarketab BILE commodities
Nothing can he accomplished however, IN the
direction of tins mucb-nendtd reform, unless the
subject IS arpToacl ed IN rafnotic spirit OF devo-
ton the sts of the entire country and with
n Willingness to yield something for the public
good.
THE TUBLIC DFBr.
The sum paid upon the public debt during the
fiscal year ended June 80, 1886, was $44.551.-
O43 SO.
During the twelve months ended October 81.
1886, three per cent bonds called for redenp-
ton amounting 10 1927 2s3 100. of which $50 643,-
ZDO was SO CdiIeu 10 anSWtI VI tbo
law relating to the sinking fund and $46,639900
for the purpose of reducing be oebt by application
OF part of surplus he Treasury 10 that OBJ
ject. OF the bonds thus called 02,2G9.4 5O be-
came subject NJ Ger shch calls 10 reception pr'or to
NUYemf CT !. 1876. h IeClalI Ger amounting 10
S25.013G50, matured under the calls after that
date.
I'D addition TO the amount subject 70 payment and
eance ation prIUr TO November 1t. there were also
paid be ore that cav certain Of these bonds. with
the interest thereon, amounting ~ S5.O72,35O,
which were anticipated az to their maturity OF
which 50. G64.S5O lad not been called. husS lOI,-
"a 500 hYu been actually applied piior o the LIST
OF November 1886. 70 the extnGuisiment oil our
bonded and interest bearing debt, leaving on that
day still outstanding tie sun of 1883. 443 l12.
O. this amount SS6,s4S.7O wee still represented
by three per cent bonds. They. however, have been
SIT CO November LIST. will al once be. further re-
duced by s22. SOC 80. ing bonds which have been
ca as already sta ed but not redeemed aud cam
celled before the latter dare.
Ti,E 81 WEIR PROBLEM.
During the fiscal year ended June 80, 1886. there
were coined under the coEII uisOry siver-colnaGe
act of S7S 29.s3s 9O5 silver dollars and the cost
of silver used IN such coinage was $23,44S $50 Oh.
There had been coined up 10 the close OF the pre-
vIous fiscal year under the provisions of the law
2O3, SS2. 554 silver dollars. aud on the st day OF
December 1885. he total amount OF such coinage
was $247. $40.
The director o; the Mint reports that at the time
of the passage of the law If 1878 directing tins
coinage, he intrinsic vaiue the dollar thus
coined was "a Il cents eacb and that on tne 3lst
day of July, 1886 the price Of silver reached the
lowest stare ever known. so that The intrinsic OF
bullion prlce OF our sfan0ard silver dolac was at
that date less than ~ cents. The Prce oil silver on
the 80, day of November last was such as to make
these dollars infrinsicaily worth 7s cents each.
These differences IL value OF the CONS represent
the fluctuations IN the price Of sIlver. and they
tanly do MOI indicate thar compu sorry coinage by
the Government enhances the pr CO OF that COM
modify or secures uniformity IN Its value.
very fair ami iega, euorc has been made by the
Treasury Department to distribute thus currency
among he people. The withdrawal OF the United
States Treasury notes OF siual denominations and
the issuing of small sill yer cates have been re-
sorted o the endeavor to accomplish this result,
in obedience to the Will and sentiment OF the
gress On the 9th day of November, 1856.
the people neId of these CONS, or GER
Ifcates representing them. he e. nominai sum OF
l reasury, against about Sl42. $4,000 30 IN the
hands of the peJp.e, and 81 $50, remalnngin
the lreasury one year ago.. The Director o. the
int again urges he necessity OF more vault room
for the purpose of storing these silver dollars which
are not needed tor circulation by the people.
nave seen TO change the views ex-
press. IN my last annual the subject of
compulsory coinage; Gnh again urge lis susDen-
sion TIE grounds contained III NV former recon-
reinforced bv Tie Significant lncreaseOf
our gold export ions during the last year. rs ap-
pears by the cOnldaratiye statement herewith pre-
sented. ami tor the further reasons that the more
TINS currency Is dI 'trbuted among the people the
greater becomes duiy 10 project II from dlsas-
ter that now nave an abundance Tor Ali our
needs; and that there seems but 'ltie property IN
building yaul 10 store such currency when the
only pref for its coinage the necessity OF Its
use by the people a rcuating medium.
ktvENUe iIiIGATION.
The great number OF suits now pending In the
United States courts for the Southern Districl OF
New-York. growing out of the collection OF customs
revenue at the Port OF Aew-York. and the number
of such suits that are almost daily insti-
tuted, are cerraiuly worthy the attention
of the Congress. These legal controversies
based upon conflicting views by importers and the
as 70 the Interpretation OF our present
complex and iDdehnlte revenue laws, might DO
largely obviated Oy amendment OF tnose laws
But pending such an ameuCmeut the present con-
dltIOn ct tins litigation should De renewed. There
are now pending bout 2, 500 Of these SUITS. More
than !, 100 have been commenced witnlp the past
al issue for uore than twenty-five Years hese
delays subject the Government TO loss OF evidence
and fret ,fious clalms willie cor antly