Telegram-herald., 1889-12-06
WINDOWS REPORT.
cc<zss Suggestions OF Ens secretary
OF rAs Treasury.
aEPEiLOFrEg IOSlCCo TlIElyORED
nis Fa-~s Ga tue E.ns. khs s9rpaas .ad
sssAsaAl B@ak1Es sgsts1 rLsz4
k-< soisias the sdseE
FEoe4saa-


-
Treasury - Els aln44l rsD@rL Submitted -
CongTsss yesterday sho<s thst tle tolsI or1inz-
~ reysz4es "a r,s G0seTaa1sat troE a. sos1rcss
To- tae Esc44 ys4r eldsc g41s 81. ~ srrs
AZ 10. "a ;. a1d tas sEpsnaltExss 49, 80.
49, easias s-lTE.zs q sllt.1c1 ~ -
n sa1s tAess 80 4sed f9F tas rv1szaptlon q
notes 4Ac frscllon4- c4rrelcy 21d purchase u
hsads 81 bo st4S. ls4Eins a Eet s1rpl4s u
y 40 - % tcF t1e year For TIE prgse1t
ge4f ne revenues. aet4al an1 csEzHatcc are
k9S Ao.ooo .nd TIE sIgendillrss 49,. 90 Do
TIE sstinased 4nlo4aE required t0r L1s sinzing
mn1 = -, -, leaslns = 1st surplus u
e. 80 s-s9i
During the nscsl year lss3 there vas applied
~ Iae redemption q the public debt ss0 81 ~.
The tOt.l szSant rsssissd from customs the
last nscal year sas s-zs. 81 Ia o.. showing al
Increase over The year isos q s. al 5os ~. ans
selas sLe l4Egest .lG01nt ever received II any
one year fsoEa that s0Urce.
Tue tot4l net receipts from internal resenl.s
toT ne nscal yssr lscs. - shown y nc books
a ths Treasury, .srs tls 81 SIS "a beiag al
Increase over the year is,s % .. .Ss4 o4l -
During lie g~siye mouths eEded October 81,
lsss EAsrs -sFe purchased uEaer the circular
OF April II, is-e Unitsd States ooads 70 the
amount Of 81. 20 90 OF these 81 30 40
we're oosansd prios 70 March = 1852, and 60.
90 SO after that tate.
rHz SURPLUS
TIE Secretary thiaks part of The surplus
might be used u enlarsing onr foreign markets.
strengthening sho coast Gef-nses. ana building
a. the navy. The sxnediont of purck asing
bonds Is q doubtful wisdom, he says Be
cause 4 = E4nifcstly wrong 20 take money
from ths people for ths cancellation 0f bonds
20 the saving Of only about per cent iaterest,
when 4 = worth 20 them, perhaps, three times
a. much IN their business. IL Is rather through
. reduotlcn u customs receipts and internal
.|ef-.
noney u the Treasury should be avoided
TRE TAX on TOBACCO.
A table Is given showing that the total tax
90 tobacco was s5i. 81, Ss7 So Mr.. Window
s61s: Whatever may be said OF the moral or
physical elects ana influence Of tobacco IL
las come ~ DC regarded as necessity by the
poor as well as the rich. II is now the only
product of agriculture that is directly taxed by
ne Government The repeal OF this tax would
reduce the surplus about Ss2,0ooooo"
TIE exemption Of alcohol used IN the arts. the
tax on which Is al one-ous burden for which
there seems neither necessity nor excuse, would
ssrike OF q. 500 90 moro.
rARIFF REVISION.
There Is q general agreement" says the
Secretary. THAT = revision of the tarlr and
customs laws IS urgently needed. believe il 20
be the dominant sentiment Of the country that
In the adjustment Of duties on imports protec-
ton % home Industry should be governing
consideration While there 10 8 vide divergence
OF Judgment on this proposition it can not well
De denied that IL Is the settled policy Of this
Government that such duties shall be so levied
ss 70 result IN the protection OF labor employed
IN domestic Industries from destructive foreign
competition.
The Secretary recommends that the many in
eQuaIties, conflicting provisions and ambigui-
ties in The present law Be corrected, and that
uniformity OF assessment az the various ports
be secured possible.
xXPoRTs AND rNPokrs-
The total value Of our imports and exports OF
merchandise and specie during the lass fiscal
year was 81 6l8ls7 ess a. Increase over the pre-
oeding year o. ssl,<7},S%S, aad was greater than
for any year siuce ssf.
The total value of exports OF domestic mer-
chAnGiss was s79o - Us for the fiscal year 1889,
an Increase OF $40, 20, sos over The preceding
year and Eas greater than that Of any year ex-
eept 1850 issl, lSss. iSs5.
SILVER COINAGE.
On the question ot silver coinage the Secre-
tary says: The continued coinage Of the silver
dollar az a constantly Increasing monthly quota,
Is q disturbing element in the otherwise excel
lent financial condition OF the country and
positive hindrance 20 s-y International agree
nent looking 20 the free coinage Of both metals
az a nxed ratio. Mandatory purchases by the
Government Of stated quantities Of silver
and mandatory coinage Of the same
into tuu legal-tendsr dollars are an un-
precsdented anomaly ard have proved fu-
tile not only IN restoring the value Of silver,
but even in staying toe downward price
OF that metal Since the passage Of the act
Of February 3 1873 20 November !,
lsso there have been purchased 200 ss9.-
ai6il standard ounces Of silver, al cost
Of i2so, 800 eS3.64, from which there have
been coined 5a3 ,ool standard silver dollars.
There we're in circulation on November Of tho
present year % o9e 40 silver dollars, less tha
d per capita the remainder, 9s5, ,5Ss,62l. being
stored away In Government vaults. OF which
ss77, ,s1s ~ we're covered By outstanding eertin-
Gates
No proper effort has been spared BY the
| Treasury Department, says the Secretary, 20
| put In circulation he dollars coined under this
law, but without success, and ths point has
| been or soon viii be reached where ths further
| coinage Of silver will become waste Of public
| money
After specifying the various causes Of the
depreciation OF silver, The Secretary says II
| Is unquestioa ably true that public sentiment
| and commercial and Industrial necessity de-
/ mand the Joint use OF both gold and silver as
money Neither can be discarded without the
most serious consequence but the great
cnanzs n the market value Of the two metals
aud The steady depreciation Of silver arouse
grave spprsasnsiOns The faith and power OF
tNa froNeFEAlf4h - FtrArctk ~ .1An' '+A'NN
dollars saual 70 their face value sud 50 long ss
their number il Kept within proper limits they
VIII Se maintained ~ par vita gold but The
I laws q trade vii eventually assert their pow
er The Drohlsm =. therefore, says Mr.. Win
dom how We shall use both gold and silver.
He briefly considers the various solutioss Of
/ tered ana points ogt objections 70 them Tho
Secretary then makes ths following important
| recon rr sndatton
Issue treasury notes against deposits of sl-
var suIllon az the market price q silver when
deposited payable on demand IN such quaint
lies of silver bullion VII equsl in vslue, a.
I sh- date q presentation the number q dollars
expressed on ne face % the notes AZ the mar
Ees price u silver or in gold. at the option Of
| the Government or n silver dollars AZ ne op-
ton q shs holder. Repeal the compulsory fest-
I ure n ne present coi1as- act.
/ Among tas advantages Ehich The Secretary
I claims far The Measure are that = would bring
into use All the r-oney netsl of the country; Il
would Eiv- paper currency nof subject - un-
frs OF arbitrary f1fation C. s1tractions =
would enhance the value o. silver anf open
me wsv - its free coinage gold would oe re
Eeves ~ part ~ he work required oi =; 4
/ would nest ne wants ~ those desirini I
iarrsr Volume - circulation ard
would ~ advantageous 20 silver producers
I TIE secr--sry givss many fscts ana tvHss7
isniias to support tAe position tsS-n ~ 2 n.
NArroyAL sAySs
/ NJ WINDOW giv-s A. great ie1gth - answers
\ Ia advance to possible criticisms sni claims