The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1886-12-15

1tt VI
THE PREVIOUS YEAR's KEcuRp.
There had been coined up to the close
Of the previous fiscal year under the pro-
visions Of the law a0S,sS2. .554 silver dol
lars, and on the Isl day Of December,
1856, the total amount Of such coinage
was S247 ,l31,54i- The Director Of the
Mint reports that at the time Of the pas
sage Of the law of 1873 directing this
coinage.
THE INTRINSIC yALUE OF THE DoLLAIe,
thus coined vas "a cents each, and that
on the 3lst dav Of July. 1856. the piice Of
silver reached the lowest stage ever
known, 50 that the intrinsic or bullion
price Of our standard silver dollar at that
date gas less than - cents. The price Of
silver on the SOt day Of November last.
was such as to make these dsllars in
trinsically worth 7S cents each.
COMPULSORY COINAGE DOES NOT ENHANCE
TIE VALUE OF SILVER.
These differences in value Of the coins
represent the fluctuations in the price Of
silver, and they certainly do not indicate
that compulsory coinage by the tIovern-
ment enhances the price Of silver or Sc
cures uniformity in it, values
ETFoRrs To FORCE CIRCULATION.
Every fair and legal effort has been
made by the Treasury Department 10
distribute this currency among the peo-
pie. The withdrawal Of United States
Treasury notes Of small denominations
and the issuing Of small silver certificates /
have been resortei 70 in the endeavoT TO T.
accomplish this result. in Obedience 10 .
the viii and sentimen. Of the representa- /
tives If the people in the Congre-, On
the 9th day Of November. 1856. the peo- .
pie held Of these coins or certificates rep +
resenting them.the nominal sum of Sl66,- F.
S73.04l and We still had S39.+64. .345 in the |
Treasury, a. against about SAP. So. .055 - I
in the hands Of the people and s73,S65,-
( $40 remaining in the Treasury one wear
ago.
HoEE VAULT ROOM REQUIRED.
The Director Of the Mint again urges
the necessity of more vault room for the
purpose OF storing these silver dollars
which are not needed for circulation by
the people
THE SUSPENSION OF COINAGE
I have seen 10 reason u change the
views expressed in my last annual mes
sage on the subject of this compulsory
coinage. and I again urge lis suspension
upon all the grounds contained in my
former recommendations reinforced by
the significant increase Of cur gold ex-
portations during the hast wear as com
pared by the comparative statement here
with presented, and BY the further reas-
ON that the more this currency i distri-
buted among the people the greater be-
: comes opr duty 10 protect It from disaster,
that We now have abundance for all our
needs. and that there seems but little
propriety in building vaults to store such
currency when the only pretense for lis
coinage i the necessity Of it, use by the
+ people as a circulating medium
THE ARMY AND COAST DEFESsES.
The report Of the Secretary Of War
gives detailed account Of the admins
tr.tion Of his Department. and contains
sundry recommendation for the i'm
provemenj Of the service which / fully
approve. The army consisted at the
date Of the last consoIid sted return Of >
LOB officers. 1895 enlisted men. The ex-
penSe- Of the Department for the last
fiscal wear were SS6. .q90g03 3. including
=. POI .305 43 for public works and river
and harbor improvements. l especially
direct the attention Of the Congress 70
the recommendation that officer, be re-
quired 10 submit 70 an examination a. u
preliminary to their promotion see no
objection, but many advantages in adopt
iug this feature, which has operated 50
beneficially in our NAVY pempartme It,
a. weil - in some branches Of the army.
The subject Of coast defenses ami forti-
fieations has been fully and carefully
treated by the Board Of Fertilization
whose report was submitted at the last
session Of Congress: but no construction
work Of the kind recommended by the
Board has been possible during the last
year from the lack Of appropriation for
such purpo~e The defen~eles- condition
Of our ga coast and lake frontier i per
fectly palpable; the examinations made
mGs1 convince u all tha1 certain Of our
cities named in the report 0f the Board
should b. fortified and that work on the
most important Of these fortifcations
should be commenced n once. The work
has been thoroughly considered and laid
out to the Secretary ofthe War in rpPort-
but all l. delayed in fault Of C0ngression-
al action. The absolute Necessity judged
By all standards Of prudence and foresight
Of our preparation for an etfectuai re-i
tance against the arInored ship and steil
guns, and mortars of modern constric-
ton which may threaten the cities on
our coasts = 20 apparent that i hope efiec-
tive steps will be taken thst dire 1ion
Immediately The valuable and Sugges-
tige treatment Of tiiis question by the
Secretary Of War i earnestly cnmmende,l
10 the consideration Of the Congre-s.
THE NIvy.
The report Of the Secretary ofthe Navy
contains detailed exhibit Of the condi-
tion of his department. with such a state
ment Of le action needed to improve
the same as should challenge earnest at
iention of the Congress. The present
Navy Of the United States, aside frpm the
ships in course of construction consists
Of: First, Fourteen single-terreted moui-
tors, none Of which are in commission
nlr al the present time servioeabie. The
batteries of these ships are obsolete and
can only be relied upon a. auxiliary
shirs in harbor defense aud then after
such an expenditure upon them a. might
not be deemed justifiahie- Second. Five,
forth rate vessels Of small Tonnage only
one of which WAS designed a i war ves-
{ sci. and all of which are auxiliary merely. /
Third, twenty-seven cruising ships, three
OF which are built ofiron Of small tonnage [
and twen5y-foyir of wood. OF these wood .
en vessels II Is estimated by the chief
( constructor OF the navy that only three 4