Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1889-12-12

bonds be allowed, will help to maintain the
bank circulation. But while this withdrawal
OF bank notes has been going on there has
been 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 l, 1873, was SSOj, 7gS, S07,
while on October l, 1889, the total was 81 ,4O5,
OlS,OCo. There was an increase of S2g3, All, So
In gold coin, of S57,554, 100 in standard silver
collars, of S72,31I, 249 in gold certificates, OF
S276.6l9,7l5 in silver certificates, and of $14,-
O75,1S1 in United States notes, making total
of 1884, 405. There was during the same
period decrease Of SIl4.IG9,72J in bank cir
culatiOn and of S542, 4SI in subsidiary
silver. The net increase was 1893,
224,i9S. The circulation per capita has
increased about five dollars during the time
covered By the table referred TO. The total
coinage of silver dollars was on November l,
1883, S3G3, 63 OO, of which S2S3, 539 81 were in
the treasury vaults and $50 rs, 4S9 were in cir
culation. OF the amount in the vaults S277,-
1894 were represented by outstanding sill
yer certificates, leaving 1921, 81 not in cir
collation. and not represented by certificates.
SILVER COINAGE.
The law requiring the purchase by the
treas Try of S2,0OO,OOO worth of silver bullion
each month to be coined into silver dollars
OF 4l2l2 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
to Increase the monthly purchase to 81 ,O0O,-
GO.
When the law was enacted February %,
1873, the price of silver in the market was
$I-20 40 per ounce, making tbs bullion value
OF the dollar % cents. Since that time the
price has fallen as low as 9l.2 cents per ounce,
reducing the bullion value OF the dollar to
SG6 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 y cents.
The evil anticlpatiOns which have accom-
panied the coinage and use of the silver dol
lar have not been realized. As a 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 if we should make
coinage of silver at present rates free we
must expect the difference in bullion values
of the gold and silver dollars will be taken
L
fear the same result would follow any con-
siderable increase of the present rate of
coinage. Such a result would be discredit-
able 20 our financial management and dis
astrous to all business interests. We should
not tread the dangerous edge of such
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 it. To the plan which
VIII be presented by the Secretary of the
Treasury for the issuance of notes or certff-
Gates upon the deposit of silver bullion
at its market vSlue, 1 have been
able 10 give only hasty eXsuiu4-
ton owing to the press of other
matters, and to the fact that
it has been so recently formulated. The
details OF such a law require careful con-
sideration, but the general plan suggested
by him seems to satisfy the purpose TO con-
tinue the use of silver in connection with
our currency and at the same time to obviate
the danger of which 1 have spoken. At a
later day l may communicate further with
Congress on this subject.
THE CHINESE.
The enforcement of the Chinese Exclusion
act has been found to be very difficult on the
Northwest frontier. Chinese landing at Vic
torla ind il easy to pass our border owing to
the inipossibility, with the force at command,
of tn. customs officers of guarding so long
an inland line. The Secretary of the Treas
ury has authorized the employment of addi-
tiOnal officers, who will be assigned to this
duty, and every effort will be made to enforce
the laNN. The Dominion eXacts head tax of
so for each Chinaman landing, and when
these persons in fraud of our law cross into
our territory and are apprehended our OIL
GERS do not know what to do with them. as
the Dominion authorities will not suffer
them to be sent back without a second pay
ment of the tax. An effort will be made to
reach an understanding that viii remove
this difficulty.
COAST DEFENsEs
Judged by modern standards we are prac-
tically without coast defenses. Many of the
structures we have would enhance rather
than diminish the pcrils of their garrisOns if
subjected to the fire of improved guns, and
very few are so located as TO give full effect
TO the greater range of such guns as We are |
now making for coast defense uses. This |
general subject has had consideration in |
Congress for some Years, and the ap- |
prop ration for the construction of /
large rified guns made one year ago |
was, / am sure, the expression of a |
purpose to provide suitable works in which |
thes6 guns might be mounted. An appropri- !
alton now made for that purpose would not |
advance the works beyond our ability to
supply them with fairly effective guns
The security of our coast cities against for
eign stack should not rest altogether in the
friendly disposition of other Nations. There
SHOULD be u second line wholly in our own
keeping. / very earnestly recommend an
appropriation at this session for the con-
struction of such works in our most exposed
harbors.
RIVERS AND HARBoRs.
Tine Improvement of our important rivers
and harbors should be promoted by the nee
essary appropriations. Care should be taken
that the Government is not committed to the
prosecution of works not of public and gen
eral advantage and that the relative useful
ness of works of that class is not overlooked.
So far as this work can ever be said to be
completed do not doubt that the end would
be sooner and more economically reached if
fewer separate works were undertaken at |
the same simc and those selected for their
Eres:-or general interest were more rapidly
pushed to completion.
PROTECTION OF OFFICERS
The assault made by David S. Terry upon
The person OF Justice Field, of the Supreme
'curT of the United states. in Lathrop. Cal,
in August last, and the killing of the
3ssailant by deputy United States marshal,
who had been deputed to accompany Justice
Field and to protect him from anticipated
violence at the hands OF Terry in connection
With the legal proceedings which have fol-
lowed, suggest questions which in my judg-
ment are worthy of the attention of Con-
gress. recommend that more definite pro-
visions be made by law, not only for the pro-
lection of Federal officers but for full trial
Of such cases in the United States courts
TIE SUPREME COURT.
The necessity OF providing some more
speedy method of disposing Of the cases
which now come for final adjudication TO the
Supreme Court becomes every year more ap- |
parent and urgent The plan of providing ,
some intermediate courts having final appel ,