New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-12-05

money, g., ah ddminations Of $50 and less IS more
than 600 600 thus exceeding tho total n 600
Of circulation among as RsSp Of smaller
denominations 10 that extent
SILVER COINAGE.
The ownership Of silver by tho Government again
was largely decreased in spite OF tho increase VI
tho total stock of silver dollars in the country Dy
,, o,noco ~ sixteen months. During the last few
oors tho decrease of circulation caused By inc can
cuation Of NatIonal-bank notes and by mo deposit
- money with the Treasurer by tho banks 10 rcuee
their notes when presented lo orceedsd by
10 Increased circulation Of silver eertlhcaes
and of standard silver dollars thus slsver srcis ~
have filed the vacuum caused by tho rt,i n
s VationaI hank circulation. The circulating me
dun in small denominations mas p2on emai7v bus-
verted into silver certificates. Ana hhauy, Jus
ness has largely increased in the South ana u, porCs
Of the country where there are rev I'm nestDone
any evil effects which might arise from h, H.
and excessive coinage of the silver aoild gs,net
danger still exists and should be glardcu agalhs.'
This can be done by the adoption Of the recommenna
ton of my last report VIZ by haine ov ,ng and
bv providing that when 1t was exceeded py mil
tie purchase Of silver nulon smUu sbonld be
again reduced 10 such maximum or by cailcci ni
United States notes to the amount OIL INC beld m.
notes if not then by cessing the purchase o,
bullion Such plan, Il adopted woq6 pro Would
assure the country against any possible uaeer h,h
silver; for as exceeded me sloumI mt
co ond p Ten 70 flow into the Treasury in payment
of taxes, and would be there hea o unsi onsrsbn
fell below the maximum, the purchase Oh inc 0uinon
"o T1s tSn coI5try's business demand would rcgu,
late the country's Silver circulation, and there wou1
be little danger of depreciation IN inc Nai I'M, vi 'i
venture TO predlc that If such saieguard j. no
adopted and n thereby the silver dollar Is suffered
b a. fo tbs peepe viii demand the absolute stoppage
of the -l7cr bullion purchase and furthermore, te
nf
Of the silver coinage profits for the redemption OF
the silver dollars which are held by them. II Is , 10
he Loned that before such crisis IS reached that inc
Nations Of The world VIII have agreed upon some
standard Of bmetalsm which will forever majntan
meantime there IS no occasion to burden ourselves
with a stock of silver which may be troublesome
COIN CERTIFICATES.
The system Of coin circulation by means or GER
tfcates has certain convenicncos and advantages,
but It IS costly form of money last year the cost
of the s1O5 900 600 silver certificates Issued was
about S4o1 600 and more and more OF these
certificates are converted into smaller denominations
this cost is likely 10 increase There are also certain
dangers connected with 1t, Tor Gamble III .iiv %
vast stores OF the precious metals might prove en-
I'm financial need the temptation to spend the coin
held AGAINST outstanding certificates might pIoNc
TOO strong Tie loss by the abrasion OF tho com,
n II wa in circulation, would not equal the cost
Of the certificates on the whole, THINK IL may
be said that the currency OF the country would be
more safe and more economical II the coin in
actual circulation instead OF being held by the Govern
Tcnt on pledge against outstanding certificates,
IS now the case But whatever may be thought
about the wisdom of the certificate system, there can
and silver exceDt subsidiary coin. IS not necessary
wise. Far more gold and silver COINS are now
I'm the possession OF the Government than probably
VIII De needed for the redemption OF certificates
Future accumulation OF the precious metals sh0uh
be only in the form OF bullion, which can be kept
more safely and counted more easily than the coin
II this suggestion adopted all but one OF our
he saved Annually. I earnestly call the attention
of the Congress this subject.
PUBLIC MONEYS
The monetary transactions OF tho Government
have been conducted through the Offices Of the Treas
urer Of the United States. nine assistant treasurcrs
and two hundred and ninety Nationalbank de
pOsares.
The gross receipts OF the Government, amounting
during the fiscal year, shown by warrants, to the
sum Of SGG4 252 224 80 5,01G.150 Of which were
on account of United states notes, ccrthcates ana
conversion OF reundng cercatcs, were deposited as
follows, viz
the Treasury ana Sub Treasures s5s2 9 sS$ G 9 e
CUSTOMS ADMINISTRATION.
While much progress has been made in the reforma-
ton of abuses in the Customs Service the inadequacy
of the present laws renders practically impossible
to many Of the evils and Inequalities which
have so long and 50 seriously affected our Customs
system.
In my last annual report l called attention to
the more important defects in the existing law, and
indicated certain remedies which appeared advisable,
and which may be briefly summarized follows
the numerous antiquities and conflicting provisions,
which for many years have been constant subjects
.. The amendment OF the laws relating to ap
praisement, TO provide for a more efficient
supervision Of the work of local apprasng officers,
By Increasing The number of general appraisers EN-
exclusive appellate jurisdiction in questions Of value
B. The repeal OF existing provisions OF Jaw Mra
undclv aluaols. as TO make It impossible TO
penalties forfeltures.
termination of The dutable value OF merchandise
t. to aa yaloTS% Taes with re
3. such notifications Of the law respecting the
forms Of declarations TO invoices by shippers as Will
farnOniZe the with the requirements regarding
6. The amendment Of the law so as to subject |
entered pro forma invoice 10 the |
same condition. imposed I'm case Of entry upon
Z. The disbursement Of speculative suits and
u protests and appeals, by providing moro effective
means for the prompt and summary hearing and final
decision OF questions Of classification.
z. A clear definition OF what is meant by the |
words " COMPONENT material OF chief vGiaeD and
9. The abolition or Limitation Of damage allow
10 The amendment of the law relating to draw
bacLs on exported goods, so as to provide for the
Inn ported material. and no more and for such
proofs and safeguards as Will prevent frauds and I'M
Bills now pending before Congress contain pro
visions which substantially meet these suggestions
and which have I'm form another received |
The sanction Of ths department.
INCoSGRUITTEs OF THE TARIFF SCHEDULES
Certain incongruous provisions Of the present tariff
schedules hurtful to domestic industries 80 !
fruitful OF complaints, contentious and suits, and are |
80 mcnaclng 10 the Treasury, that feel constrained
10 express tho hope that they viii receive attention
At this session Of Congress- even II there should be
no further legislation respecting tho tariff / refer |
10 the provision of Schedule k under
which wOrstcd cloths admitted at lower rates of |
iuty than woOlcn cloths and 10 which ] called |
,pcclal attention In my last annual report 1.-THE duties
low levied wOrsted cloths are, In my Judgment, |
IS HIGH a. they should be, but the duties on The |
wool, Of which they are woven, should be reduced |
70 permit their profitable manufacture, and |
he duties wooden cloths should be cOrrespondingly