The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1886-12-17

~, ne-1, ~ rooorvo = 1Aeu clso6. ~
~ "a 114 ehus showing t1ae ensro must
- held a ~ treasury In some other forms
III money!. ~ balance a. - 81 Tho
entire som Of ~. n. - may b said 20 be
comnosed az o.o.5s5,lSs legal tenders> ~
~. 1(O stnndard silver dollars and &f3.0l'.-
10o vold. II the books OF tho treasury
sfnsed accurately. the balance due BY y -
4 dopository. the amount now reported -
I credit balance would BE- materially do
creased. That these balances should not
be 90 reported IL. In the opinion 81 the
treasurer, ono Of the greatest defects Of
the prcsant treasury system.
Discussing the question Of silver coin
age. after referring 70 the fact that there
are now In circulation t6i, sdi, 49, In stand
ard dollars, the treasurer says he thinks
that f65, 100000 II the extreme limit o. cir
culation which may BE- obtained. II cer-
tainly can not be maintained at that sum
when the new silver u and ~ ccrtincates
are In foil supply, and return 20 the
treasury Of one-half Of the amount Of
standard dollars now In circulation
must be looked for: and so he asks
whether, II the further purchase
Of silver bullion be determined upon, the
coinage might not cease, and the sum
which il costs saved 10 the treasury. The
amount expended 50 far upon the coinage
OF the silver dollar. outside Of the cost
and consequent loss upon the purchase OF
the bullion, amounts 70 $4,Hg,465. All OF
the cost In excess. say. Of the cost OF the
coinage OF the sum Of <75.oWoco. repre-
| sents pure loss. and amounts ~ two cents
| per dollar, and the cost Of these coins. 10
| s.. Az. 467. To add 10 this loss would seem
unnecessary. and the sum could be expcnd-
! cd in the purchase OF that amount more
| OF the silver bullion. The adoption OF this
| plan would nj least have the merit OF add
/ ing Just so much 10 the credit OF the silver
profit fund Besides. the cost 20 the Gov
eminent for transportation Of these coins
| averages Slo5 per $1,000. and the cost to
| the people Of their return 70 the treasury
averages ss5 per $1,000. The average
cost OF transportation 10 the Government
Of the silver certificates per $1,000 Is fifty
| cents, the cost 70 the people, say. <i-2S q
saving OF e274 per $1,000. strong argu-
! ment in favor OF the issue OF
such amount Of these certificates
as the business Of the country will permit
10 be carried on without disturbing 10
| gold revenues or interfering with the
maintenance Of a strict parity between
the two metals. The amount Of silver dol
amount Of gold coin and bullion on hand Is
s25s. IA. $50 The cost Of the fc46.6s3. 3S6 Is
| <216.Os9. ci9: the present value. $lSS,0l4, 81
showing an actual less Of S2S.034.9if
The bank OF France today is in this po-
sition. II holds in its cash at par eseo. 2s3.-
SEQ In silver. its present value At par Of
exchange. exclusive OF abrasion Is <l0t-.
509.6ql. showing loss Of its entire capital
and surplus. which amounts $4f.02s2 ~
and Si0.OO0.0UO in addition IL called upon u
liquidate its affairs to-day.
Treasurer Jordon recommends altcra
tions in the present sub-treasury system
in order that IL may conform 70 the imam
cial changes which have taken place sinc'
this system was adopted As the countr,
increases in wealth and population will
the consequent increase Of its revenues
and disbursements. il will be found impos
sible 10 continue the system in its prcsen
form with the extension Of the three pc
cent bonds which. without some deprcs
sion or event that can not now be forsecn
must take place during the ensuing fisca
year. the only bond available for the pur
poses OF the sinking fund will be the A.
and 4 per cent. bonds. At the present cos
} OF the collection Of the revenue Of IN
country, say 81 70 per sloo. the loss on IN
existing sinking fund. say <i5.oooouo pc
annum, will be s7S5.ooo annually. assun
ing per cent as the best rat
, which the bonds can earn Wifhou
discussing the consequent possible d.
rangemcnt Of our existing financial syster
| If purchases for the sinking fund are
! be main tanned at their present figure
I | will be found TO be impracticsble - max
, these purchases. the treasurer says. 4
t. ~x~x4. r..rr~...r "a n
| lieve the money market In times Of FINANCES
! distress. Asthese arrangements happen a
I most invariably at the time Of moving {
the crops Of the country. this statement
; equivalent to saying every productive
' interest in the country nust pa
. | toll 70 foreign buyers. through tine lowe
. range Of prices which obtain az such time
| because Of the fact that our arrangement
r for collecting and disbursing our revenue
! | are 50 defective as 70 need an artifici'
and violent remedy IN order 10 place
: | active circulation the moneys withdraw
4 from the business 'of the country In
! method cf dealing with the public monel
Z il not true Of any country but thi
Z and the practical sense or the America
I people. as shown through in represent
{ fives in Congress. should be adequate
i find remedy for this constantly recu
I ring evil-onc sure TO grow and bccou
!. more burdcns0me in our future Nation
= history.
Y ssThis remedy he says. should
4 found and adopted with the coming sessis
y OF Congress. because the evil complains
y Of will be upon US before lis next meetin
q and the reasnry left without any meal
= OF supplying the urgent needs u the cou
4 try.