The sun., 1889-12-04

methods for their correction will probably no
be difncult Uniformity Of valuation at all ou
should be taken to secure 4. ltis equally de
sirable that questions anectinR rates anC
classiacations class should be promptly decided
toms duties Is a matter OF great dellcacy be
cause Of its direct effect upon the business o
Of tho wide diversenscS S % si q opinion as to the Oh
lecis TINT may properly ne promoted Dy suei
may perRaps fsspft % fpom SS tho considerStion 'e
this subject by Congress, but this temporary II
effect will be reduced to the minimum bl
chanGes will be SO made as not to. impair thu
induIstTes. I e The ineqpsiiies F Of the law should
be adjusted, but the protective principle
should be maintained and fGirly applied to the
These duties necessarily have relation &c
other things besides the public revenues We
the public treasury alone. They have direct
relation TO homo production; to, work. to
OF our country W and t6e WISE nnd patplotIe Ieg.
isator SHOULD enlarge the field OF his vision TO
Include all OF these.
nues can, am sure, be made without making
the smaller burden more onerous then the
larger, by reason OF the disabilities and limi-
tntions which the process OF reduction puts
upon both capital and labor. The free list can
very safely be extended by placing thereon ar
to such domestic products rs our homo labor
can supply. The removal OF the internal tax
upon tobacco would relieve an important aRri-
cultural product from burden which was i'm
posed only because our revenue from customs
duties was insufficient for the public needs. II
safe provision against fraud can be devised,
the removal OF the tax upon spirits used in the
arts and in manufactures would also offer an
unobjectionable method OF reducing the sur
plus.
A table presented by the Secretary OF the
a inas h s6Gws fhe amSpn OF money
|
that the amount OF national bank notes In
circulation has decreased during that period
TO the last year. The withdrawal OF bank cir
cuation will necessarily continue under exist
tion M Of the Suggestions made by the Comp.
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 would help
to maintain the bank circulation. But, while
on, there has been a large increase in the
amount OF gold and silver coin in circulation
and in the issues OF gold and silver certificates.
circulation on March 1. 1878. was 1905 70s,s s07.
while on Oct l. 1889, the total was tl,405,0ls-
gold coin. OF s57 55l. lU0 1t standard silver dol
lars OF s72 81. .249 In gold certificates. Of s276-
6l9,n5 IN silver certillentes aud OF $4,912i7S7
976,4O3. There was during the same period q
decrease OF sll4 IO9,729 IN bank circulation,
increase was $599.224 1873 The circulation per
capita has increased about So during the time
covered by the table referred to-.
The total coinage OF silver dollars was on
Nov. 1. 1859, s343 1888 Dol. of which $3.50 539,52l
were in the Treasury vaults and s60,Q9S,4s0
vaults. $277,3l9.9i4 were represented by out
standing silver certificates leaving $6.2l9.5T
not in circulation and not represented by GER
titlcatee.
The law requiring the purchase. by tho
Treasury. OF $2.UaO,OUO worth OF silver bullion
4l2Is & aims, has been observed by the Depart
ment: but neither the present Secretary nor
exercise the discretion given by law TO in
crease the monthly purchases to 81 OOU.O0O.
When the law was enacted tFeb. 2S. 1879 the
price OF silver in the market was 81. 20 40 per
ounce, making the bullion value OF the dollar
93 cents. since that time the price, has fallen
bullion value Of tho dollar 10 7O6 cents. With
in the last few months the market price has
somewhat advanced. and on tho first day Of
The evil anticipations which have accom-
panied the coinage and use OF the silver dol
lar have not been realized. AS a coin 1t has
not had general use, and the public Treasury
has .eep c9mnelIed 70 store It; But this Is
resentative Is more convenient, The general
acceptance and use OF the silver certificate
credited. Some favorable conditions have
to maintain this practical equality
sGr oara @ qss o the Ed ad
conditions that statutory enactments do, not
control and OF the continuance of which we
think it is clear that II we should make the
coinage OF silver ct the present ratio free; We
values OF the gold and silver dollars will be
taken account OF In commercial transactions
and fear the same result would follow any
coinage. Such result would be discreditabe
TO our financial management and disastrous to
he dangerous edge OF such a neril. And. in
ieed. nothing more harmful could happen to
he silver interests. Any safe legislation upon
this subject must secure the equality OF the |
.wo 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 dscrcdit it. To |
he plan which will be presented by the Secre-
AIRY Of the Treasury for the issuance of notes !
ion at its market value. have been able tc |
Zive only hasty examination. owing TO the |
has been 40 recently formulated. The details |
u such law require carei consideration but |
ne e,g general s plan SUGGESTED by him seems TO
'er in connection with our currency. aud at
he same time to obyiate the danger OF which |
rave spoken. At a later day may communi-
'ate further with Congress unon this subject.
The enforcement OF the Chinese exclusion
iorthwestern frontier. Cinnamon. landing at
Victoria. lind i easy to pass our border owing
o the impossbllity. with the force Ut the com
rreasury has authorized the employment, Of
OlnceTb WHO Will Dc assigned TO THIS
luty. and every effort will be made to enforce
he law The Dominion eXacts q head tax OF
80 for each Chinaman landed. and when these
PERSONS In fraud Of our law cross into our
erritory and are apprehended. our officers do
lot know what to do with them. as the Do
ninion authorities will not suffer them TO be
ent back without second payment OF the
AK. An effort will be made to reach an under
ia ndinR that will remove this difficulty.
The proclamation required by section of
he act OF March 2. 1889. relating TO the killing
4 seals and other fur-bearinG animals, was
ssued by me on the 2lst day OF March. and
evenue vessel was despatched 10 enforce the
avs and protect the interests OF the United
tates. The establishment OF n refuge station
t Point Barrow as directed by Congress- was
accomplished.
Judged by modern standards. We are practi-
ally without coast deiences. Many OF the
tructrIes we have would enhance rather than
imnish the perils OF their garrisons II sub
scted to the fire OF improved guns: and very
Nv are 80 located rs to give full effect TO the
reater range OF such guns as we arc now
lakinR for coaSt-defence uses. This general
ubject has had consideration In Congress for
ONE years and the appropriation for the con-
truction Of large riied guns made one year
20 was, i am sure. tho expression OF pur-
ose to provide suitable works In which these
uns might he mounted. An appropriation
ow made Ior that purpose would not advance
40 completion OF the works beyond our ability