The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1889-12-13

that the minimum deposit of bonds for the
establishment OF banks be reduced, and that
an issue of notes to the par value of the
bonds be allowed, will help to maintain the
bank circulation. But while this withdrawal
of bank notes has been going on there has
been a large increase in the amount of gold
and silver coin in circulation and in the is
sues of gold and silver certificates.
The total amount of money of all kinds In
circulation on March /, 1878, was 500, .9s, s0l,
while on October I, 1882 the total was $, 4oo,
oIs,o00. There was an increase of s2s,ild, o62
in gold coin, of s55,55i,Ieo in standard silver
dollars, of sT2, ,249 in gold certificates, OF
S2.66i9..l5 in silver certificates. ana OF sl4,
073,1s7 in United States notes, making total
of sfIs.yT6.4e3. There was during the same
period decrease of STA .lGs, ~ in bank cir
culation and of s542,isl in subsidiary
silver The net increase was 1893,
224.r9S. The circulation per capita has
increased about five dollars during the time
covered BIZ the table referred to. The total
coinage OF silver dollars was on November /,
1889 $3.50, 6ss COL, of which 1888 ,52l were in
the treasury vaults and S69S9s is9 were in cir
cuiation. OF the amount in the vaults s217,-
1884 were represented by outstanding sill
yer certificates, leaving S6,29l,5 not in cir
tulation and not represented by certificates.
SILVER COINAGE.
The law requiring the purchase by the
treas Try of s, 10000 worth of silver bullion
each month to be coined into silver dollars
OF 4i2i2 grains has been observed by the de-
partment, but neither the present Secretary
nor any of his predecessors has deemed il
safe to exercise the discretion given by law
60 increase the monthly purchase to S4,OO0,-
90.
When the law was enacted February %,
1875, the price of silver in the market was
l.1n Lii ~ al,re
of the dollar SO cents. Since that time the
price has fallen as low as 9l.2 cents per ounce,
reducing the bullion value of the dollar to
zoo cents. Within the last few months the
market price has somewhat advanced and
on the first day of November last the bullion
value OF the silver dollar was AZ cents.
The evil anticipations which have accom-
panied the coinage and use of the silver dol
lar have not been realized. As coin it has
not had general use, and the public treas
ury has been compelled to store it. But this
is manifestly owing to the fact that its paper
representative is more convenient. The gen.
eral acceptance and use of silver certificates
shows that silver has not otherwise been dis
credited. Some favorable conditions have
contributed to maintain this practical equal
ity in their commercial uses between gold
and silver dollars. But some of these are
trade conditions that statutory enactments
do not control, and of the continuance of
which we can not be certain.
think it is clear that il we should make
coinage of silver at present rates free we
must eypect the difference in bullion values
of the gold and silver dollars will be taken
account of in commercial transactions and L
fear the same result would follow any con-
siderable increase of the present rate of
coinage. Such a result would be discredit-
able to our financial management and dis
astrous to all business interests. We should
not tread the dangerous cdre of such a
peril and indeed nothing more harmful
could happen TO the silver interests. ANY
safe legislation upon this subject must Sc
cure the equality of the two coins in their
commercial uses have ALWAYS been an
advocate of the use of silver in our currency
We are large producers of that metal and
should not discredit il To the plan which
will be presented by the Secretary of the
Treasury for the issuance of notes or certiti-
Gates upon the deposit of silver bullion
at its m.rl,t LII. b,yo haon
abIe IN giva on,y b.sty axomina-
ton ewing tn Tho nress of other
matters opd 20 the fact th,t
il has beon So recently formuI,te5 The
details of sucb a law reouire c,rpfnl con.
siJeratjop liant the general Dlon Suyyastad
by him seems tn SATISFY tho burmese re CON
Time the use of silver in conpnctio, with
our currency and ar tho sum. time 70 obyi.te
the danper of which 7 b,va sno,en Ar a
al IA ffrrf ianrv wifi
(,onpress ON ms suhin1t
Tt,r curxrsr
Tho endorsement ~ tho rp,inoso Fxc,rsion
act has heen found TO he xerv dif,icult on the
No-t,,wes. frontier Chinese Iandinc ar Vic.
toria find II easy TO mass onr horIcr owing N
the in,possibiIitv WITH the fnr,a at command
of tn. customs officers az gnording so lono
an inland line Tbe Secrct,Tr of tbc Treas
,,rx has authorized tho o,n,,Iovu.nt 81 .ddi
.ionai officers Who will he ossigpnd to This
duty. and every effort will he made to enforce
the LAW. The Do,ninion exacts a head tax of
$50 for each Chioaman landing. and when
these persons i'm fraud of our law cross info
,,r ~ 80 "a no ,,o,,r,i,a,,Io5 On, ,ts
GERS do moi know what IN do with them ,s
The D,.n,inio,, au,LoritiaS will not SNIFF
,b.,,, 20 ba cen, I,.cl, u-i,bo,t :. s,,,o,d Nv
80, -. tba+.x A. g. "a, d., 81 20
,e,[.f, ON ,,ndc,S,,,dinor ,b.t " in rer,oye
M di.sicurty
COAST DEFESsKs.
Judged nv modern standards We are prac-
tically without coas. 6efers,s Many of the
structures we have would enhance rather
than diminish tba ucrfls of their parrisons II
subjected TO the fire of improved guns. and
very few are So located a. to give full effect
10 til. greater range of such guns as we are
now making for coast defense uses This
conceal subiect has had consideration in
Congress for some wears. and the ap-
prop ration for the construction of
large rifed runs made one wear ago
was. am sure, the expression of a
purpose to provide suitable works in which
these. gums might be mounted. An appropri-
alton now made for that purpose would not
advance the works beyond our ability to
suppIy them with fairly effective guns.
The security of our coast cities against for
eiru attack should not rest altogether in the
friendly disnosition of other Nations There
SHOULD be a second line wholly in our own
keeninr 7 yery earnestly recommend An
AUGMENTATION at this session for the con-
struction of such works in our most exposed
ba,,ors