New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-12-07
THE REPORT IN FULL.
TEEAsuRY DErA.rMENr,

SIR: In compliance with Section PSI, Revised
statutes herewith report to Congress Appendix Al
Estimates OF the pubic revenue and public expendi
lures the fiscal year current" with an exhibit
Appendix 81 OF the receipts and expenditures tor tho
last fiscal year; and statement VI the public
Indebtedness and of the assets and liabilities OF the
Treasury on Novcpber l, 1885, and November /,
1886 aud of fhe payments and changes OF the funded
debt during the same twelve months besides other
tabular statements, records, and comparisons
Appendix d., and the annual reports to from the
heads Of Bureaus and other officers of this Department
In compliance With Section 2iS, Revised Statutes,
have also enc Favored digest and prepare ans for
the improvement aud management of the revenue and
tor the support o. the public credit" thereto aottng
the time which recovery from tedious Illness Obliged
me to withhold from official routine
The SILVER QUESTION.
Since the date of my last annual report the attitude
OF important government toward the silver question
has been changed. The matter is of consequence, and
requires detail
Last December the results of our special mission to
the governments of France, Germany, and Great
Britain had just been obtained. and were as folsws
The French Government remained OF the Same mind
as when it had united with the Government OF the
United States in calling the International Monetary
Conference of 1881. The German Government deemed
the cooperation OF Great Britain in any change sine
qua nOa The Government OF Great Britain
administered by the same party and principal persons
then as now, to depart from the poato
held by that Government the International Monetary
Conferences Of 1873 and 1881.
The position which the delegates of the British
Government instructed 10 take at each OF those
conferences had been adverse the object sought by
the United States That object the opening OF the
mints OF the governments OF the United States OF
America and OF the leading European States to the free
coinage Of both gold and silver into unlimited legal
tender money at ratio fixed by International,
agreement
Thus, at the International Monetary Conference OF
1878, the British delegates had led Mons. Leon Say
the first French delegate, and a majority OF the
conterees, declare that silver, like gold, OF course
must be kept a monetary metal, but each State or
group OF States must act for itself in the choice and the
mintrng. An International ratio being pronounced
unbeatable since the bimetalc States did not under
take an unlimited coinage Of silver, the British
delegates fu ther declared their hope that every State
would not prefer gold, while insisting upon Great
Britain keeping to her own preferences and that
h1ed ratio was utterly impracticabe" These
declarations, OF course, frustrated the object OF tie
United States in calling the international Monetary
Conference OF 1873
During the next three years the powerful poemic OF
Mons. henri Cernuschi revout0nized the opinion OF
leading men in Europe, anu terminated the
dep ndeuce Of France upon Great Britain. The
Government OF France joined the Government OF the
United States in ealing the next international
Monetary Conference held ut PARIS in 1881. Ihe
OBJECT OF the United States, now supported by the
invaluable concurrence of the greatest among
the great tA'lic powers" was agmn 'ee
same-the opening of the mints OF group
Of such powers TO the free coinage Oh goio anu
silver, at ratio fred by international agreemsht'
into unlimited legsItender money The delegates Tor
Great Britain declared that their monetary system
since 1916 had rested gold as single STANDARD
that this system had satisfied all the needs OF the
county without giving to the dihcuites manifest
elsewhere o,her systems, and TOR these reason
It had been accepted by the governments Oh all parties
and by the nation The Government oil Great Britain,
therefore, could not take part IN conferences as
supporting the principles proposed and her delegate
was not permitted to This decaiafion OF course,
frustrated the object In assembling the fnrnationa
None ary Conference OF lssl, for the Government Of
Germany, following the lead Of Great britain was
resolv I'll 10 retain monetary sys;em like hers.
am informed by the Secretary Of State that the
above declaration Of 1851, respect TO the support