The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1889-12-12
PLAIN DRALRR.
EVERYTHING IN IHl LINE OF
JOB WORK,
Bill Heads, Cards, Pos
ters, Circulars.
siiistaslIes b neltlsss, PrsaDlsess o.
Pries eua1lised.
e~0fva - t9ias before NeaGgtna eszeyha0n
w,NooM's REPORT.

WINDOWS REPORT.
Recommendation Of the Secretary Of the
Treasury Regarding the Tsrin. surpius.
National Banks. Etc.-His Plan for the
Solution or the silver Problem.
WARRINGTON. Dec. 5.-The Secretary Of the
Treasury in his annual report submitted To
Congress yesterday shows that the total ordinar
" revenues OF the Government from all sources
for the fiscal year ended juno 30, 1850. were
1s7, ,050,6s.s4, and the expenditures f.Si.es6.-
~ 20. leaving q surplus Of e1O6. .053. 443.2t.
~ this there was used for the redemption Of
octes and fractional currency and purchase Of
bnnds $4,, $50. .3i3.65, leaving net surplus OF
e.; 40 80 for the year. For the present
gear the revenues, actual and estimated. arc
1855 10000 and the expenditures S2g8,On.
The estimated amount required for the sinking
fund IL fta. 81 1882, leaving net surplus OF
tA3 9Th 883Ol.
During the fiscal year 1850 there was applied
10 tho redemption Of the public debt fy0, ,g0 ~.
Tho total net receipts from internal revenue
for the fiscal yess 1852. Is shown By the books
OF the Treasury, we're ei3O, ,8sl .5lao9, being IN
increase over the year 1883 Of q, ,5S464i.es.
During the twelve months ended October u.
ISHo there were purchased under the circular
Of April IT, 1889, United States bonds to tho
amount Of 4o9 233g5O OF these. S32 e7o.4O
were obtained prior 70 March T. lsso. and "a.
81 h6O after that date.
THE sURPLUD.
The Secretary thinks part q the sufplue
might be used in enisrging our foreign markets.
Strengthening the coast defenscs, and building
up the navy. The expedient Of purchasing
bonds is OF doubtful wisdom, he says, be-
cause II Is manifestly wrong to take money
from the people for the cancellation Of bonds
10 the saving Of only about per cent. interest,
{S ~ tfv1rAm
| ns much in their business. It is rather through
q reduction Of customs receipts and internal
taxes that an unnecessary accumulation Of
money In the Treasury should Be avoided
THE TAX on TOBACCO.
A table Is given showing that tho total tax
on tobacco vas 93l, 800, "a Mr.. Window
adds: Whatever may be said OF the moral or
physical effects and influence Of tobacco II
has come TO be regarded % . necessity by tho
poo. as we'll as the rich. It Is now the only
product Of agriculture that IL directly taxed By
the Government. The repeal Of this tax would
reduce the surplus about eagm.0D"
The exemption OF alcohol used In the arts, tho
there seems neither necessity nor excuse, would
strike OF x, 10000 more.
Tariff REVISION.
There Is . general agreement" says the
| Secretary, that . revision Of the tari6 and
customs laws fs urgently needed believe II 10
be the dominant sentiment Of the country that
| in the adjustment Of duties on imports protec-
| tion to home industry should be , governing
| consideration. While there 10 wide divergence
| OF Judgment on this proposition it can not well
be denied that it Is the settled policy Of this
| Government that such duties shall be 20 levied
as to result in the protection Of labor employed
In domestic industries from destructive foreign
competition
The Secretary recommends that the many In.
| equalities, conflicting provisions and ambigui-
! ties In the present law be corrected and that
| uniformity Of assessment at the various ports
be secured II possible
/ SILVER COINAGE.
On the question OF silver coinage the 6ccrc-
i tary says: THE continued coinage OF the silver
dollar, ut constantly increasing monthly quota.
| is . disturbing element In the otherwise excel
/ lent financial condition Of the country and =
positive hindrance 10 any international agree-
/ ment looking TO the free coinage Of both metals
| at . nxed ratio Mandatory purchases BY the
/ Government OF stated quantities Of silver
and mandatory coinage Of the Same
into full legal-tender dollars are An un-
| precedented anomaly and have proved fu.
tile, not only In restoring the value Of silver,
but even In staying tho downward price
Of that metal Since tho passage Of the act
OF February q, 1878. 70 November !.
1850, there have been purchased 2o0,600,-
ll6ll standard ounces Of silver, at cost
OF e.s6. .a30. .633N, from which there have
been coined 3ES636OOl standard silver dollars.
4 There werc In circulation on November Of the
present rear o0,O964a0 silver dollars, less than
I n per capita. the remainder -. $50 SCI. being
stored away in Government vaults Of which
f2.7.3iap "a were covered nv outstanding ccrtiti-
! cafes
| No proper effort has been spared by tho
/ Treasury Department.. says tho Secretary. to
| put In circulation the dollars coined under this
lax. hut without success. and the point has
bcen, or soon will I've. reached where the 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 unquestionahly true that public sentiment
and commercial and industrial necessity de-
! mand the Joint use OF both gold and silver AZ
money. Neither can be discarded without tho
! most serious consequences, but the great
| change in the market value Of the two metals
and the steady depreciation Of silver arouse
grave apprehcnsions. The faith and power OF
the Government are pledged 10 make the silver
dollars equal 70 their face value and 50 long as
their number Is kept within proper limits they
will be maintained At par with gold but tho
| laws cf trade will eventually assert their pow
er The problem IS, therefore, says Mr.. Win
dom. how We shall use both gold and silver.
He briefly considers the various solutions Of
fered and points out objections 70 them. The
Secretary then makes the following important
| recommendation:
Issue treasury notes against deposits Of sill
yer bullion at the market price Of silver when
deposited, payable on demand in such qnanti-
ties Of silver bullion will equal in value, at
the date Of presentation the number Of dollars
expressed on the face Of the notes at the mar
ket price Of silver or In gold. ~ the option of
the Government or In silver dollars AZ the op.
tion Of the holder. Repeal the compulsory feat.
| ure OF the present coinage act"
| Among the advantages which the Secretary
claims for the measure ore that II would bring
into use all the money metal Of the country; Il
would give paper currency not subject TO un-
due or arbitrary imitation or contraction: It
would enhance the value Of silver and open
the way to Its free coinage; gold would be re-
neved Of part OF the work required Of It; il
would meet the wants OF those desiring
y larger volume OF circulation. and IL
would be advantageous to silver producers.
The Secretary gives many facts and figures
tending to support the position taken by him
NATIONAL BANKS.
Mr.. Window gives 1t great length his answers
IN advance to possible criticisms and claims
that the danger OF further depreciation or silver
bullion is remote He deals also with the Ques-
tion Of depositing public moneys with National
banks, which he considers source Of danger,
and he says IT is my purpose. at the earliest
moment deemed practicable, r. commence the
withdrawal OF these funds such limited
amounts and under such conditions rs will be
least likely TO iniuriously affect the business In
terests Of the country, and, unless Congress
shall otherwise direct, toinvest the moneyin the
purchase of bonds, in case they can be obtained
1t fair price," Mr.. Window gives review Of
the National bank system, which he on the
whole, approves, and directs the attention Of
Congress 70 hardships arising under the alien
contract labor law and to alleged evasions of
the Chinese exclusion oct.