The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-12-06

the costlof the coinage OF the sum of $75, 000 000
represents pure loss, and amounts, at cents
per dollar-the cost OF these coins-to 81, 49,
ACT. To add to this loss would seem unnecessary,
and the sum could be expended in the purchase
OF that amount more Of the silver bullion. The
adoption of this plan would at least have the
merit OF adding Just so much to the credit of the
silver proht fund. Besides, the cost of the gov
eminent Tor transportation Of these coins aver
ages ST. 20 per 81 900, and the cost to the people
of their return to the treasury averages say,
81 "a per 81 900. The average cost OF trans
portatlon, TO the government, of the silver GER
tficates per 81, QUO is say, 80 cents; the cost to
the people, say, $l.25-a saving Of 81 IA per
81, 900, and strong argument in favor of the
issue of such amount of these certificates as the
business of the country will permit to be carried
without disturbing its gold rev enues or inter
fering with the maintenance of strict parity
between the two metals
The amount of silver dollars coined to date ia
GAG, 673 1885, the amount of gold coin and bullion
on hand is 1854, 400, $50. The cost of the $246.-
673, 1886 of silver is $216.S04. 900, the present
$l68, Ola .354 showing an actual loss of $28 034.
Ola The Bank of France today is 10 this posi-
ton: It held in its cash vault at par 1920, 273,
500 in silver; its present value at par of ex-
change, exclusive of abrasion, is $3.50, 509, 691,
showing loss of its entire capital and surplus,
which emounts to, say, $44. 028. 223, and $40 00O
900 in addition, if called upon to liquidate its
affairs to-day.
Treasurer Jordan recommends alterations in
the present sub treasury system, In order that IL
may conform to the financial changes which have
taken place since this system was adopted. AS
the country increases in wealth and population,
with the consequent increase of its revenues and
disbursements, it will be found impossible to
tnue the system in its present form With the
extinction of the three-per-cent. bonds, which,
without some depression or event that cannot
now be foreseen, must take place during the en-.
suing fiscal year, the only bonds available for the
purposes of the sinking-fund will be
the four and one half and four-per-cent.
bonds. AT the present cost of the
collection of the revenue of the country, say
So. 70 per 500. the loss on the existing sinking
fund-say $45, 000, 900 per aunum-will be $765,
600 per annum, assuming 2 per cent as the best
rate which the bonds can earn. Without dis
cussing the consequent possible arrangement OF
our existing financial system. If the purchases
for the sinking fund are to be maintained
at their present figures, it will be
found impracticable to make these purchases
the Treasurer says, at such times and in such
manner as to relieve the money market in times
of financial distress. AS these arrangements
happen almost invariably at the time of the
moving of the crops of the country, this state
ment is equivalent to saying that every
productive interest in the country must pay toll
to foreign buyers through the lower range Of
prices which obtain at such times because OF
the fact that our arrangements for collecting
and disbursing our revenues are SO defective az
to need an artificial and violent remedy in order
to place in active circulation the moneys with
drawn from the business of the country This
method of dealing with the public money is not
true of any country but this. and the practical
sense of the American people, as shown through
it's representatives In Congress, should be ad-
equate to find a remedy for this constantly-re-
curing evil-one sure to grow and become more
burdensome IN our future national history.
This remedy, he says, should be found and
adopted with the coming session of Congress.
because the evil complained Of will be upon US
before its next meeting and the treasury left
without any means of supplying the urgent
needs of the country.