Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1889-12-05


effective measures should be taken to
secure it. 1t is equally desirable that
questions affecting rates and olsssihca-
lions should be promptly decided. The
preparation of q new schedule of customs
duties is matter of great delicacy
because of its direct effect upon
the business of the country and of great
difficulty by reason OF the wide diver
gence of opinion as to the objects that
may properly be promoted by such leg.
islstion. Some disturbance Of business
may perhaps result from the considera-
tion of this subject by Congress, but this
temporary i'll effect will be reduced to
the minimum by prompt action and by
the assurance which the country already
enjoys. That any necessary changes will
be so made as not to impair the just and
reasonable protection Of our home indus
tries. The inequalities of the law should
be adjusted, but the protective principle
should be maintained and fairly applied
to the products of our farms as we'll
as of our shops. These duties
necessarily have relation to other
things besides the public reve-
nues. We can not limit their
effects by fixing our eyes on the public
treasury alone. They have direct rels-
ton to home production, to work, to
wages and to the commercial independ-
ence Of our country and the wise and
patriotic legislator should enlarge the
field OF his vision to include all of these.
The necessary reduction in our public
revenues can, am sure, be made without
making the smaller burden more cnerous
than the larger by reason OF the dis
abilities and limitations which the process
of reduction puts upon both capital and
labor. The free list can very safely be
extended by placing thereon articles
that do not offer injurious competition to
snch domestic products as CUR home
Labor can supply. The removal OF the
internal tax upon tobacco would relieve an
important agricultural proiuct from q
burden which was imposed Only because
our revenue from customs duties WAS it,
sufficient for the public needs. II safe pro-
vision against frRud can % devised the
removal of the tax upon spirits rsed in
the arts and in manufactures would also
offer an unobirctionahle method Of re.
dUoing the surplus.
In discussing the silver question the
President says; The tota. coinage Of
silver dollars was on November LIST. 1883,
$343, 1913, 00l OF which 1888, $50 52l were
in the treasury vaults, ani 500 ,t9S, $50
we're in circulation. Of the GBIonni In
the vaults S277 3I9 9i4 vera represented
by outstanding silver certificates, leaving
sc 2I9,577 not in circulation, and not
represented by certificates. The Law 70
qairing the purchaEe by the treasury Of
two million dollars WoEsh oil silver bullion
each nonth 10 be coined into silver dol
lara Of 1923 grains mas been observed by
the department, but neither the Presi.
dent, secretary nor any ct his gredecas-
sorH has deemed it safe to exercise the
discretion given by lay 10 increase the
monthly purchases to four million dol
lars. When the law wRs enacted, T. bEuary
2Sth, 1878, the price OF silVe, in tho ~ mr.
ket WA Sl20 40 per ouaoe, making the
bullion value OF the COLLAR 80 cents.
Since that tims the price has
, fallen as low rs 81, 9 cents per ounce, re.
ducing the button value Of the dollar TO
TOO cents. Within the last few months
the market price hss somewhat advanced
, and on the LIST Gay Of November last the
bullion value of the silver dollar was 70
cents. The evil antioipations which have
accompanied the coinage snd uss of the
J silver dollar have not been realized. az
) q coin il has not had general use and the
. public treasury has been compelled 10
store it. But this IS ipani,estly owing &c
} the fact that its papsr representative is
more convenient. The general accept.
I anoe and use OF the silver certificate show
that silver has not been otherwise dts
3 credited. Some favorable conditions have
0 contributed to 1aGlntgin this practical
i equality in their commercial uge between
( the gold and silver dollars, but some of
e these are trade conditions that statutory
t ensctmSnts do not control and of the
l continuance of which VIC cannot be cor
, tain. | think it is clear that i
: we should make the coinage of silver nj
i the PRESENT ratio free, We must expect
s that the difference ia the bullion values
y Of the gold and silver dollars will bt
. taken account of in commercial trans
|. actions, and fear the same result wouii
e follow any considerable increase IN tn,
$ present rate of coinage Such reaul
6 would be discreditabe to our 6nancia
Il management and disastrous to all bust
J, ness interests, Any safe legislation upol
}, this subjec. must secure the equality o
Il the two coins in their commercial uses.
& have always been All advocate OF the us
q Of silver in our currency Wa arc iarg
d producers Of that metal and should no
g dlscredlt it. To the plan which will u
10 presented by the Secretary OF the Urea
ie sury for the issuance Of notes or certih
d Gates upon tho deposit OF silver builiol
It ct its market vslne, l have been able t
n give oniya hasty exam ration, owing 4
!. the press o. other matters and to the FAC
e Shat IL has he-n recently formulated Til
le details of suoh y law require cageful cor
q Eidesstion but the general plan sag
u geBted by bin seems TO satisfy the pEl
= pc4e--to continue the USa OF silver i