Thomas County cat., 1889-12-05
THE MESSAGE.
concluded IRON, Ist page.)

concluded from 1st page)
The total amount of money of all kinds in
circulation on March /, 1875 was $50. .795, ,6T,
while on October /, 1889. the total was 81 ,4O6,-
0ls OOO There was an increase OF 95,lII ,56Z
in gold coin, of s57, 100 in standard silver
dollars. of S72, ,249 in gold certincates. OF
$276,6I9,7I5 in silver certificates, and OF slA,-
O13 ss7 in United States notes. making total
of s7I3 $40, ,403. There was during the same
period a decrease OF s1I4 .72s in bank cir
culation and OF $642, ,4sl in subsidiary
silver. The net increase was 1888.
a2I,l9s. The circulation per capita has
increased about five dollars during the tir7e
covered by the table referred to. The total
coinage of silver dollars was on November /.
1889 1868 63s COL, of which $2sS .52l were in
the treasury vaults and $60, 096, $50 were in cir
cuIation OF the amount in the vaults $277,-
1884 were represented by outstanding sill.
yer certificates, leaving s6,2sl57 not in cir
culation and not represented by certificates
SILVER COINAGE.
The law requiring the purchase by 'the
treasury of s., ,0OO, 600 worth OF silver bullion
each month to be coined into silver dollars
of ll2I2 grains has been observed by the de-
partment. but neither the present Secretary
nor any of his predecessors has deemed it
safe to exercise the discretion given by law
to increase the monthly purchase to A,0OO,-
600.
ls7s the price Of silver In the market was
Sl2O 40 per ounce making the bullion value
of the dollar 90 cents. Since that time the
price has fallen as low as 9l.2 cents per ounce.
reducing the bullion value OF the dollar to
106 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 ~ cents.
The evil anticipations 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 II. 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 il 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
account Of in commercial transactions, and
fear the same result would follow any con-
siderable increase of the present rate of
coinage. Such a result would be dscredit
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. 1 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
will be presented by the Secretary of the
Treasury for the issuance of notes or certifl-
Gates upon the deposit of silver bullion
at its market valve, have been
able to give only hasty examina-
tion owing to the press of other
matters, and to the fact that
it has been so recently formulated. The
details of such 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
eur currency and mt the same time to Obviate
the danger of which l have spoken. At a
later day 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
toria find II easy to pass our border owing to
the impossIbillty, with the force at command,
of the customs officers OF guarding so long
an inland line. The Secretary of the Treas
ury has authorized the employment Of addi
tionaf officers, who will be assigned to this
duty, and every effort will be made to enforce
the law. The Dominion exacts a head tax Of
$50 for each Chinaman landing, and when
these persons in fraud of our law cross into
our territory and are apprehended our Off
GERS do not know what to do with them, as
the Dominion authorities will not suffer
them to be sent back without second pay
ment of the tax. An effort will he made to
reach an understanding that will remove
this difficulty.
COAST DEFENsEs
Judged by modern standa rds we are prac-
ticaiIy without coast defenses. Muny Of the
structures We have would enhance rather
than diminish the pcrils of their garrisons il
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-
preparation for the construction of
large rified guns made one year ago
was, 1 am sure. the expression OF
purpose to provide suitable works in which
these 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
friendly disposition of other Nations. There
should be 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.
The Improvement OF our important rivers
and harbors SHOULD be promoted by the nec
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 il
fewer separate works were undertaken at
the same time and those selected for their
greater general interest were more rapidly
pushed to completion.
PROTECTION OF OFFICERS.
The assault made by David 5. Terry upon
the person of Justice Field, of the Supreme
Court of the United States. in Lathrop. CAL
in August last. and the killing of the
assailant by deputy United States marshal,
who had been deputed to accompany Justice
Field and to protect him from anticipated