The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1889-12-05

careful inquiry that about 5000, 900 gallons of
alcohol are annually used III this country in a
vast number of chemical and medicinal prepa-
rations of common and needful use, as we'll as
in many of the important mechanical and in
dustrial arts, from which a tax of $5,400, 900 is
collected. Its use for these purposes would
doubtless be largely increased were 1t not for
this tax which is equivalent to about $50 per
cent of its value. This is a direct and onerous
burden upon our industrial interests and upon
the consumers of the articles produced, for
which there now seems to be no necessity OF
excuse.
In case the tax should be removed both
from tobacco and alcohol used in the arts, the
reduction thus effected would be about
1897 100000. leaving balance from internal
revenue of about $97, 100000.
Reduction in receipts from customs presents
the only other advisable means for diminishing
the revenue. This can be accomplished:
l. BY reduction in rates of duty upon those
articles which, by reason of inconsiderate leg
islation, or changes which have occurred in the
development of our industries, are found to be
excessive.
2. By increase in rates upon articles which
have not been successfully produced here. be-
rs rs Nv 49, P..,s ,;.1..s
sHsos u mn,S S.a ,o,ea.e a " s;,
oo. " T. a. - .ha. Up. sau
shorid a;,her 10 s.;.,,, 49, n.o..ad - s,a.S ,,or
the free list.
8. By transferring to the free list articles
which, from climatic or other causes, are moi
and can not be successfully produced here
also articles which, under existing conditions
on.nt;,;as - No., tho ,ea r os 49, sanio ~
~ sa..,a a. ,seasa So ooo.;.: PyeP-es VI
s;gn nrodnot;ons ond or,;oias a. rrnS,,..;o
Of ,rhioh - of ;nnans;aarshio ;,o~..r".
Whata,,ar a;g.~oroos of o,,;.;a. 49,.
be With rsaord ~ ,he ba., r,p,hod of d;soa;1yy
of ths s,,r,,i,,s rs,,sr,,a and ~; ~
o,,onla,;ar oS $500. I, 49," ~ .. ;ao ~
~ .s.a..a" =. ao - ~ me aeaSai! 11yono
a xs r 49, 80 ~: Sos'nn1 any ~"
Question of e. ~ ~ ao's s,'s
toms and ;rtarnal ,horo = asnorsi arrsar.a,,
that revision or Tie sarill ana custons la !,
is urgently needed.
believe il to be the dominant sentiment O,
the country that, in the adjustment of duties
on imports, protection to home industry should
be a governing consideration.
SILVER.
The continued COINAGE of the s,,ver do,,ar q,
constantly 10 q
disturh;ro e,er,ent IN ,ho o,hor,,;sa a~a.iI.r
financial Condition. of the countrv and ! nos;'
five h;ndrance 70 anv ;ntsrna,;ons, aarao p,
iooL;no 20 ,he frao oorars 81 ~ ISL =. I,
fxed ratio.
Mandatory nurchases NV the oovernnoen, q,
stated opant;t;es Of silva onJ Yoanda,or,
coinage of the same into fnll legal. tender dol'
lars are an unnrecedarted anomsiv and hsve
proved futile not onlv in restorino the yaIne
Of silver but even in stsy;n@ ,hs Jowr,uar ~
price of that metal
Since the nassape of the act of Februarv %
1879. IN November 1880 there Nave Neon
purchased 300 $50 ASH standard ou.ces q,
silver. at a cost of S2ss. Gao. 633 GA from which
there have been coined 343. 63s oeI standard
silver dollars
There were in circulation nm November q,
the present wear 6o.O9s 4so silver dollars les,
than al nor can;ta Tho worn .;nder oea zoo soI
beinp stored awav in government vaults =,
which cor 3Io ga uere oororsd h., om,s..5
;n, oars;faa,oa SosN - oD'''""1'
Tha rr;oa 81 s;,ror -, M.u.h 1910 -,
ak ie -. 1900 Wa
G. 49,, .au 90 ooS % 40 PEI ouno'
nn cco 90 tnis price S1'ooo,ooo "ouiu purcnass
l,ooo, ~ ounces OF nne siver' which wouio
com Z,l4i,zoo standard SILVER dollars. AT tn.
9veiage prlce OF sVef ior tne nscai year endee
sune 1o, 1908 l4z.4ss pencel, equivalent e
$o.soioo per ounce nne, Sz'ooo.ooo wouis
purchase 1'l4o'.oo nne ounces, out OF whicf
1,no,ozo standard SILVER collars could d
coined.
Inc iower the price Oh siiser' the greater TN
,ara s X nnha rs ~ % paaInaseu anu ~
to comply with the act of Februsrv "a, 1878
No proper effort has been spared by tn,
treasury department to put IN circulation tn
uonars coiheu unoer THIS law. Iney nav
oeS" siippeu, upon ce"aeo, from the mint
ano SUD treasures, Tree OF charge, TO the near.
est and the most distant localities in the United
~, ,a,,I,s;n a,,S. s'
NY vaults ~ payment Oh government que
and taxes. surely the stock OF these dollar
c;ronlot;ro n,od;r,, w.. 800 H. ~o.oLo5 e /;
Inouia.us lneuiuh, must SOON DC reached, IL
aud storage of them will then become a vast
of public money and hnrden mon tbe treas
ury.
The silver dollar has been maintained at ma
with gold, the monetary unit, mainly by th
provision of law which make it full legal ten
der, and its representative, the silver certificate
receivable for customs and other dues but thu
vacuum created by the retirement of nationa
bank circulation, and the policy of the govern
ment in not forcibly paying out silver, bu
leaving Its acceptance largely to the creditor
have materially aided its free circulation.
But the fact must not be overlooked that i
is only in domestic trade that this parity hal
been retained; in foreign trade the silver dol.
lar possesses only bullion value.
After presenting and discussing various solu.
tons of the silver problem which have bee,
.,nr,..oa .ho .a.-o .n.-. A.. 49,
e1ss''''u' 'ne 'e''e'a'y onei' 'he io'o"
ing:
MEASURE RECOMMENDED.
Issue treasury notes against deposits o
silver b bullion At the market price Of siivel
quantities Of silver bullion AZ viii canal LII 4,
value, at the date Of presentation, the number
OF dollars expressed on the face Of the note
option Of the pvernmsnt. r. in sigor sr
at the option Of the holder. Repeal the com
pulsory feature of the present coinage act.
The proposition is briefly this. To omen IN,
minis Of the United States to the free demos;
of silver. the market value of the same 1not !,
exceed 81 for 4l2.5 grains of standard silver
at the time of deposit. to he Maid in treas,,r;
notes; said notes to be redeemable in The oman
t;tv of silver which Gould ha ,,,,rchasaJ ~ ~
number of dollars Expressed on the face II m
notes at the time presented for paymen I. or /,
cold NJ Tho orton sc H. no,....S. - j.