Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1889-12-04
Tidings
HAKRISON'S MESSAGE.

HAKRISON'S MESSAGE.
WASHINGTON, Dec. 3.-President Ha
rison's message to congress opens with
reference to the perfection OF the Amer
can system of government and cordial II
lations existing with all other nations
He congratulates the Pan-American col
. gress and expresses the belief that the re
suits will be mutually auspicious for tn
, governments represented. Careful con
sideration is given to our foreign relations
the fisheries subject and the Nicaragua
canal.
ON THE TARIFF
the message says:
| recommend O revision OF our tarif
law, both in its administrative features
and in schedules. The need of thu
former is generally conceded and ar
agreement upon the evils and incon
veniences to pe remedied, and the bes
methods for their correction will prob
ably not be difficult. Uniformity Of val
uation at all our ports is essential, and
effective measures should be taken tC
secure it. 1t is equally desirable that
|
tions should be promptly decided. The
preparation of new schedule OF custom
duties is matter OF great delicacy, be-
cause of its effects upon the business Of
the country. Of the great difficulty by
reason of the wide divergence of opinion
as to the objects that may be promoted
by some legislation, some disturbance of
business may perhaps result from the
consideration of this subject by congress,
but this temporary i'll effect will be re-
duced to minimum by prompt action
and the assurance which the country en-
joys that any necessary changes will be
so made as not to impair the just
and reasonable protection of our home
industries. 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
well as our shops. The duties neces-
sarily have relation to other things be.
sides the public revenues. We can not
limit their effects by fixing our eyes on
the public treasury alone. They have a
direct relation to home production, to
work wages any the commercial inde-
pendence of our country, and wise and
patriotic legislation should enlarge the
field of his vision to include all of these.
The necessary reduction in our public
revenues can, am sure, be made with
out making the smaller burden more
onerous than the larger, by reason Of the
disabilities and limitations which the
process of reduction puts upon both cap
ital and labor. The free list can very
safely be extended by placing thereon
articles that do not suffer injuries to
competition, to such domestic products
as our home labor can supply. The re-
moval of the internal tax upon tobacco
would relieve an important agricultural
product from burden which was inn
posed only because our revenue from
custom duties was insufficient for the
public needs. If safe provision against
fraud can be devised, the removal Of the
tax upon spirits used in the arts and in
would also offer an I'M
method of reducing the
surplus.
The message speaks Of the bountiful
harvests and general prosperity, and the
surplus for the past fiscal
year was $57 ,470, ,l29.59.
The existence of large annual and an
ticipated surplus should have the imme-
diate attention of congress, with view
of reducing the receipts of the treasury to
the needs of the government as closely as.
may be. The collection of moneys not
needed for public uses imposes an un-
necessary burden upon our people, and
the presence of so large surplus in the
public vaults is disturbing element in
the conduct of private business. 1t has
called into use expedients for putting it
into circulation of very questionable pro-
priety. We should not collect revenue
for the purpose OF anticipating our bonds
beyond the requirements of the sinking
fund But any unappropriated surplus in
the treasury should be 80 used, as there
is no other lawful way of returning the
money to circulation, and the profit
realized by the government offers sub
stantial advantage. The loaning of pub
lie funds to the banks without interest,
upon the security of government bonds,
regard as an unauthorized and danger
Gus expedient. 1t results in temporary
and unnatural increase of banking capital
of favored localities and compels con-
tinuous and gradual recall of the deposits
to avoid injury to commercial interests.
No further use should be made of this
method Of getting the surplus into circula-
ton.
Liberal appropriations are asked for
coast defenses. OF public lands and the
administrations policy the message says,
only those who are familiar with the con-
ditions under which our agricultural lands
have been settled can appreciate the seri-
GUS and often fatal consequences to the
settler of policy that puts his title under
suspicion or delays the issuance Of his
patent.
THE SILVER QUESTION.
A table presented by the secretary of
the treasury, showing the amount of
money of all kinds in circulation each
year from 1878 to the present time, is Of
interest. 1t appears that the amount OF
national bank notes in circulation has de-
creased during that period STA, 109, 729, Of
which $37, ,629 is chargeable to the
last year. The withdrawal of bank circu-
lation will necessarily continue under ex-
isting conditions. 1t is probable the
adoption of the suggestion made by the
comptroller of the currency, viz: That
the minimum deposit of bonds for the es-
tablishment of banks be reduced, and that
an issue of notes to the par value of the
bond be allowed, would help to maintain
the bank circulation. But, while this