Evening capital. (Annapolis, Md.) 1884-1910, 1888-12-04

nave Dfcu worth IN LlelT business AT 1c<1At %
per cent per annum. Deducting from the
amount Of interest upon the principal and
premium OF these bonds for the time they
had 10 run at the rate of 9 per cent the
savir of per cent. made for the people by
the purcha e 81 such bonds, the loss viii APP
, ar to b. IS, 10000
This ca 'culation would seem to demonstrate
that il excessive and unnecessary taxation is
continued and the government is forced TO
pursue this policy of purchasing its own bonds
at the premiums which it will be necessary to
pay, the loss TO the people viii be hundreds Of
millions of dollars
Since the purchase of bonds was undertaken
as mentioned, nearly all that have been
offered were at last accepted 1t has been
made quite apparent that the government
was in danger of being subjected to COM
binations TO raise their price, as appears by
the instance cited by the secretary of the
offering Of bonds of the par value of only
$4,000 so often that the aggregate of the
sums demanded for their purchase amounted
to more than Si9, 100000.
Nothwiths. adding the large sums paid out
In the purchase of bonds, the surplus in the
treasury on the Goth day of November, 1883,
was $50, 23l, Gl0.01, after deducting about
s20,000,00o just drawn out for the payment
Of pens ons.
At the close of the fiscal year ended June
so, 1887, there had been coined under the
compulsory silver coinage act S266, 9SS, $50 in
silver dollars SIS, s0i,3l0 of which were in
the hands of the people.
On the 30th day of June, 1888, there had
been coined S299, 70S, 790; and of this SIS, s29
3O3 was in circua ion in coin, and $500, 1897,
$40 in silver certificates, for the redemption
OF which silver dollars to that amount were
held by the government.
On the 30th day of November, 1888, $312,-
57)9 had been coined, S60,970, 800 of the
silver eollars were actually in circulation,
and S@37, 4lS,346 in certificates.
The secretary recommends the suspension
of the further coinage of silver, and in such
Recommendation | earnestly concur.
For further valuable information and
timely recommendations, ask the careful
attention of the congress to the secretary's
report.
THE WAR DEPARTMENT.
The secretary of war reports that the
army at the date of the last consolidated re-
turns consisted of ., $50 officers and "a, $40 en-
listed men.
The actual expenditures of the war depart
ment for the fiscal year ended June 30, 1888,
amounted to S41 16j, l0707, of which sum
50, 15S, 5i6G3 WAS expended for public works,
including riv and harbor improvements
1.-The board of ordnance and fortifica-
tions,n provided for under the act approved
Sept p, last. was convened Oct So 1888,
and plans and specifications for procuring
forgings for $, 10 an IL inch guns, under
provisions of section 4, and also for procur-
ing IL inch breech loading mortars, cast iron,
hoped with steel, under the provisions of
= pf fha cai1 mt cvthnaif tod IN
the secretary of war for reference to the
board, by the ordnance department on the
same date
These plans and specifications having been
prompt approved by the board and the
secretary of war, the necessary authority to
publish advertisements, inviting proposals,
in the newspapers throughout the country,
was granted by the secretary on Nov. IL, and
on Nov. Is the advertisements were sent out
to the different newspapers designated. The
bids for the steel forgngs are to be opened
on Dec. 90, 1888, and f + the mortars on Dec.
Is, 1855.
A board of ordnance officers was convened
at the Watervliet arsenal on Oct 4, 1883, to
prepare the necessary plans and specifications
for the estab ishment of an army gun fac
tory ut that point The preliminary report Of
this board, with es mates for shop buildings
and officers quarters, approved by the
board of ordnance and Notifications Nov. 9
and 8. The specifications and form of adver-
tisement aud instruction to bidders have been
prepared, and advertisements inviting pro-
posals for the excavations for the shop build
ing and for erecting the two sets of
officers quarters have been published.
The detailed drawings and specifica-
tions for the gun factory building
L., G,.s~ l.l
within three or four months, when bids viii
be invited 10 The erection of the building
The list of machines, etc, is made out, and
it is expected that the plans for tho large
lathes, etc, will be completed within about
four months, and after approval by the board
of ordnance and fortificat;on, bids for fur
nishing the same will be invited. The ma
chimes and o.her fixtures win be completed
as soon as the shop is in readiness to receive
them, probably about July, 1890.
Under the provisions of the army BILL for
the procurement o. pneumatic dynamite guns,
the neces airy specifications are now being
prepared ald advertisements for proposals
will issue early in December. The guns will
probably be of IS inches caliber and fire
proiecti.e that will carry a charge each OF
about five hundred pounls of explosive gela-
zine with fun calhar projectiles. The guns
viii probably be delivered in from six to ten
months from the q lte of She contract, so that
all the guns of this class that can be procured
under the rrovis ons 81 the law will be pur-
chased during the year 1852.
l earne ,tiy req est that the recommended
lions eonta;ne in the secretary's report, all
of which are, my opinion, calculated to
increas III usefulness an discipline of the
army, may receive the consideration of the
congress. Among these the proposal that
there should he provided plan for the ex-
animation o. officers to test their fitness for
promotion is OF the utmost importance. This
reform has | zen before rec n,mended in the
reports Of ths secretary. and its expediency
is 50 July demonstrated by the argument he
presents in lis favor that its adoption should
no longer be neglected
The death Of Gen Sheridan in August last
was national affection The army then
lost the grandest of its CHIEFS. The country