Salt Lake evening Democrat. [volume] (Salt Lake City, Utah) 1885-1887, 1886-12-06
THE MESSAGE.
Continued from First Panel


ences the question of wages, should not be
forgotten in the justifable prominence given
to a proper maintenance of the supply and
protection of well-paid labor, and these con.
| siderations suggest such an arrangement OF
| Government revenues as shall reduce the
| expense of living, while it does not curtall
the opportunity for work nor reduce the
compensation of American labor and iniuri-
ousy affect the condition and the dignified
| place IL holds in the estimation of our peo-
| pie. But our farmers and agriculturalists,
those who from the soil produce the things
consumed by all, are perhaps the more
directly and plainly concerned than any
| other of our citizens, in a just and careful
| system of Federal taxation. Those actually
engaged in and more remotely connected
with this kind of work mum Der nearly :one
half of our population; none labor harder
or more continuously than they. No enact
ments limit their hours of toll, and no inter-
position of the Government enhances to any
great extent the value of their products,
and yet for many of the necessaries and
comforts of life, which the most scrupulous
economy enables them to bring into their
homes, and for their implements of hus-
bandry, they are obliged to pay q price
largely increased by an unnatural profit
which, by the action of the Government is
given to the more favored manufacturer. l
recommend that keeping in view all these
considerations the increasing and unneces-
sary surplus of national income annually &C.
cumulating be released to the people
by an amendment to our revenue
laws, which shall cheaper the price of the
necessaries of life and give freer entrance to
such imported materials as by American
labor may be manufactured into marketable
comm ODDITIES. Nothing can be accomplished
however, in the direction OF this much
needed reform unless the subject is ap-
preached in spirit of patriotic devotion to
the interests of the entire country, and with
Willingness to yield something for the
public good.
THE NATIONAL DEBT.
The sum paid on the public debt during the
fiscal year ended June Both, 1886, was
$4,455, lOi 1856. During the twelve months
ended October 81, 1886, the per cent. bonds
were called for redemption amounting to
$50 643, POO was so called to answer the re-
quirements of the law relating to the sink
ing fund, and 1856 $4,000 for the purpose of
reducing the public debt by the application
of part of the surplus in the Treasury to
that object. OF the bonds thus called,
S1O2, 269,45O became subject under such
calls prior to November l, 1889. The re-
manqed un AMOUNTING tbs calls to sG
date. In addition to the amount
subject to payment and cancellation prior
to November LIST, there were also paid before
that day certain of these bonds with the
interest thereon, amounting to $5,073,550,
which were anticipated as to the maturity
OF which 1864 $50 had not been called;
thus SlO7,34l 800 had been actually applied
prior to the LIST of November, 1886, to the
extinguishment of our bonded and interest
bearing debt, leaving on that day still out
standing the sum of 81, 115, 443,112. OF this
amount $50, SfS, 700 were still represented by
3per cent. bonds. They, however, have been
since November 18th, or will at once be fur
bu AZ,
which have been called as already stated,
but not redeemed and cancelled before the
latter date.
During the fiscal year ended June 3d.
1856, there were coined under the compul-
sorry silver coinage act of 1873, 20, S39, S49
silver dollars and the cost of the silver used in
such coinage was S23, AS, 96001. There had
been coined up to the close of the previous
fiscal year, under the provisions of the law,
2O3, 49,, 554 silver dollars, and on the LIST day
OF December, 1886, the total amount of such
coinage was $24S, 1854 The Director of
the Mint reports that at the time of the
passage of the law of 1873 directing this
coinage, the intrinsic value of the dollars
thus coined was 9414 cents each, and
that on the 21st day of July, 1886,
the price of silver reached the lowest
stage ever known, so that the intrinsic or
bullion price of our standard silver dollars
at that date was less than ~ cents The
price of silver on the Both of November last
was such as to make the dollars ntrinsically
worth Is cents each, and these differencesin
the value of coins represent the fluctuations
OF the price of silver, and they certainly do
not indicate that compulsory coinage by the
Government enhances the price of that COM |
modify or secures more uniformity to its |
value, Every fair and legal effort has been |
made by the Treasury Department to dis |
tribute that currency among the people. |
The withdrawal of the United States Treas |
ury 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 SEN
tlment of the representatives of the
people in the Congress. On the 9th day of
November, 1886, the coins or certificates
representing the nominal sum of Sl66. S73-
0fl, and we still have S79, 46i,345 in the
treasury, as against about $142, 794, O65 in
the hands of the people, and $72 S65, 376 re-
naming IN the Treasury one year ago. The
director Of the Mint again urges the neces-
slty of more vault room for the purpose of
storing these silver dollars which are NOT
needed for circulation by the people.
nave seen no reason to change the views ex-
pressed IN my last annual message on the
subject OF this compulsory coinage, and |
again urge It's suspension on all the
grounds contained in my former recon-
mendation, reinforced by the significant
increase Of our gold expectations durinp
the last year. 1t appears by the compara
i've statement, herewith presented, and for
the turther reasons that the more this cur
rency IS distributed among the people the
greater becomes our duty to protect If from
disaster, that we now have abundance for
All our needs, and that there seems but lit
lie propriety in building vaults to store such
currency when the only pretense for its coin
age Is the necessity of its use by the peonIe
IS circulating medium.
The expenses of the department for the
asst tlscal year were S36 $3.50 800. 28, including
So, 294, .43 for public works and river and
larbor improvements | especially direct the
tttentl0n OF Congress to the recommendation
nat olncers be required to submit to an eY
animation as preliminary to their promo {
Ion ! see no objection, but many adyant-
yes, IN adopting this feature which has {
'perated so benefcially in our navy depart F.,
nent MS we'll as in some branches of The
rmy. VIC
COAST DEFENsEs.
The subject of coast defenses and fortia- I
atoms has been fully and carefully trented
y the Board on Fortitcations, whose renort
vas submitted at the last session of Cons i
tes5i out no construction work of the kind I
by the board has been DOS :
preparations for such purpose. The do /
ehseless condition of our seacoast and lake
rontier is perfectly palpable; the examina, Q
ION, 70 made must convince us all that certain v
our cities named in the report of the a
GARD should be fortified, and that work nD :
ne most important of these Qualifications J.
mould be commenced at once, The worL Il
as been thoroughly considered and laid ?
ut, the Secretary of War reports, but nil II
delayed in default of Congressional action s
ne absolute necessity judged by all stand G
rus OF prudence and foresight, of our \
reparation for an effeotuaI resistance J,