The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1888-12-14
trus PRESIDENTS MsssAor coNrrsrsp ,

urther expend the surplus in such purchases
Until the authority to do SO should be more
IMPLICIT. resolution, however, having been
passed by both houses Of congress removing
All doubt as to executive authority, daily
purchases OF bonds were commenced on the
e8d day Of April, 1885, and have continued
until the present time. BY this plan bonds Of
the government not yet due have been pur-
chased up to and including the S0th day Of
November, 1888, amounting to s94, 700, 400,
the premium paid thereon amounting to
81, sos, ,0l3.0S
The premium added TO the principal Of
these bonds represents an Investment yield
ing about per cent interest for the time
they still had to run; and the saving to the
government represented by the difference
between the amount Of interest at per cont.
upon the sum paid for principal and pre-
MUM and what IL would have paid for in
terest at the rate specified in the bonds IL
they had run TO their maturity, is about
e27, 165,000.
AT first sight this would seem to be q profit
able and sensible transaction on the part OF
the government. But, as suggested by the
secretary of the treasury, the surplus thus
expended for the purchase of bonds was
money drawn from the people in excess Of
any actual need of the government, and was
80 expended rather than allow it TO remain
idle in the treasury. II this surplus under
the operation of just and equitable laws had
been left in the hands of the people, 1t would
have been worth in their business at least 9
per cent per annum. Deducting from the
amount Of interest upon the principal and
premium of these bonds for the time they
had to run at the rate of 9 per cent. the
saving of per cent made for the people by
the purchase of such bonds, the loss will ap-
pear to be SIS, 100000
This calculation would seem to demonstrate
that If 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 will 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
e826,0 200 SO often that the aggregate of the
sums demanded for their purchase amounted
to more than s19, ,700,0 900.
Notwithstanding the large sums paid out
in the purchase of bonds, the surplus in the
treasury on the 30th day of November, 1SSS,
was So, ,234, ,61001, after deducting about
0,00O, 900 just drawn out for the payment
of pensions
At the close of the fiscal year ended June
30, 1887, there had been coined under the
compulsory silver coinage act $266, ,9sS, ,2S0 in
silver dollars, s55, ,504,3l0 Of which were in
the hands of the people
On the 30th day of June, 1888, there had
been coined $500, 70s, 7g0; and of this s55 s2s,
S03 was in circulation in coin, and $500, ,3S7,.
876 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, $3l2, :
$40, 900 had been coined, $50, 0,9709 900 of the
silver dollars were actually in circulation,
and s237 AIS 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 secretarys
report.
THE WAR DEPARTMENT
The secretary of war reports that the
army at the date of the last consolidated re-
turns consisted Of 2, 1S9 officers and "a, ,549 en-
listed men.
The actual expenditures Of the war depart
ment for the fiscal year ended June 30, 1888,
amounted to SAL, 1855, 10707, of which sum
$9,15s, ,516.63 was expended for public works,
including river and harbor improvements.
s'The board of ordnance and fortiflca-
tions,n provided for under the act approved
Sept. % last. was convened Oct 30 1888,
and plans and specifications for procuring
Gov = nd oh, ON uudar
provisions of section 4, and also for procur-
ing u inch breech loading mortars, cast iron,
hooped with steel, under the provisions Of
section . of the said act, were submitted to
the secretary of war for reference to the
board, by the ordnance department on the
same date.
These plans and specifications having b cen
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. 10, and
on Nov. l3 the advertisements were sent out
to the different newspapers designated. The
bids for the steel forgings are to be opened
on Dec 20, 1888, and for the mortars on Dec
Is, 1888.
A board of ordnance officers was convened
at the Watervliet arsenal on Oct 4, 1888, t.
prepare the necessary plans and specification
for the establishment Of an army gun fac
tory at that point. The preliminary report O
this board, with estimates for shop building
and officers quarters, was approved by th
board of ordnance and Notifications Nov.
and 8. The specifications and form of adver
tisement and instruction to bidders have beeI
prepared, and advertisements inviting pro
posals for the excavations for the shop build
araatiny the sets
officers quarters have been published
The detailed drawings and specifica
tions for the gun factory building
are well in hand, and will be finishet
within three or four months, when bids will
be invited for the erection Of the building
The list of machines, etc, is made out, an'
it is expected that the plans for the larg
lathes, etc, will be completed within abou
four months, and after approval by the boart
of ordnance and fertilization, bids for fur
nishing the same will be invited. The ma
chimes and other fixtures will be completes
as soon as the shop is in readiness to receiv
them, probably about July, 1890.
Under the provisions Of the army bill, TO
the procurement of pneumatic dynamite guns
the necessary specifications are now beinl
prepared and advertisements for proposal
will issue early in December. The guns vii
probably be of 10 inches caliber and fire
projectile that will carry a charge each o
about five hundred pounds of explosive gels
tine with full csliber projectiles. The gun
will probably be delivered in from six to te
months from the date of the contract, so tina
all the guns of this class that can be procure
under the provisions OF the law will be puI
chased during the year 1899.
/ earnestly request that the recommends
tions contained in the secretary report q
of which are, In my opinion, calculated
increase the usefulness and discipline OF th
army, may receive the consideration of th
congress. Among these the proposal ths
there should be provided plan for the el
animation of officers to test their fitness fo
promotion 10 of the utmost Importance. Th
reform has been before recommended In u
reports of the secretary, a4d its expedienc
is so fully demonstrated by the argument
presents in its fax IT that its adoption shoul
no longer be neglected.
The death of Gen. Sheridan in August La
was a national aftiiction. The army the
lost the grandest of its chiefs The counti
lost brave and experienced soldier, wi
and discreet counselor, and a modest al
sensible man Those who in any mann
came within the range Of his personal ass
citation viii never fail to pay deserved al
willing homage to his greatness and the glo
of his career; but they will cherish wi
more tender sen bility the loving memo
of his simple, generous and oonsiderate L
ture.
TIE APACHE INDIANS
The Apache Indians, whose removal fro
their reservation in Arizona followed