The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1889-12-07

Secretary Windows report devOtes it's
opening pages To tabsllatcd statements
showing tho rsccipts and disbursements
Of tlsc government for the fiscal year. II
shows the total ordinary expenditures Ia
have becn $3sl .9gsi,6l5.6O. am Increase i'm
ordinary expenses of ST. .sA2.UO Out of
the wid range Of topics discussed or
mentioned in the report thu STANDARD So
1ects for especial summary this morning
thoss that particularly refer tO subjects in
which its READERS have especial interest,
and chiefly thc sections referring tai lead
and silve-. A. to lead. MIR. Window
starts i'm with u general criticism of the
tariff act of 1888 which, he says, was has
tily considered and passed. awhile
intended as n protection measure,
il WAS based Oh former tariffs
and perps,trsstcsi many inequalities and
has provoked constant dispute and litiRs-
ton. . Az n result Of the increas-
ing practice of protest and appeal, the
public has come tn look rather to the Sec
Rotary Of the treasury than tn congress Tor
relief from real ar imaginary harslships
attributed to the tariff. Indeed, the seq
rotary Is constantly inportuncd tn make
rulings equivalent to tariff legislation. Ii
is therefore urged that in revising the
tariff schedules care be taken to- avoid
conflicting provisions and antiquities,
which have been productive of the evils
mentioned; also that rates be. SO adjusted
as tn avoid the inequalities of the existing
law SD hurtful To domestic industries. The
law which imposes n duty of ~ cents per
pound on lead ore, and also cxempts from
duty ors,s of silver and gold, illustrates these
conflicting provisions. Gold and silver
are often combined with lead in ore. DIRE
of this character il claimed To bc conn
either exceeds that of the lead, and such
has been the decision and ruling of this
department for the past ten years. Ii il
submitted that the law AS to lead ors,
should provide u duty upon the lead there
in contained. As the law now stands, IL
the silver or gold il the component of
chief value the lead escapes duty. On
the other hand IL the lead is the coInpn-
nent of chief value. the gold ar silver IL
lead. Thus the purpose of the law may
bc defeated i'm both cases"
With these rennarks the report drops
the subject, making no Recommendation
to congress- with regard To il.
THE SILVER QCESTsON.
The sscretary's discussion Of the
that the continued coinage Of the
silver dollar, at ~ constantly I'M
sarSin. element. IN the Otherwise excel
lent financial condition of the country,
and u positive hindrance tai amy interTa-
age of both metals at "a fixed ratio. Nam
datory purchases 10y the government of
coinage of the same into full legal-tendcr
dollars. ;ts, an unprecedented anomaly.
and proved futile, not only in restoring
the downward price of that metal. IL is
freely admitted that the predictions of
many of our wiss,st financiers, as to when
would be reached. have not been fulfilled,
hut IL is believed that the principles on
arr j"%-tifed 10y the laws Of trade and fin.
ance and by the universal experience OF
mankind" The report thus rccites the
''postponc the evil effects which are sure
To follow tie. excessive issue of ovcrvalued
ai1vpr nj ~ N1sssa fssvissvsa1 i'm thq nathan rf
foreign governments which have csiah-
iished the single gold sta ndari Mr..
tions of the silver question that have
been proI,osssd: First, am international!
agr.s'meIt fixing ~ ratio between gold
mint IA free coinage" In such
concert Of action" he says: ''if il could
solution of the silver problem. Thc pol
icy of promoting il was instituted by the
United States in 1873. The proposition
was fully set forth and Justified i'm the two
international conferences. tnfortunstc-
~, some of the most powerful nations are
even in those countries, seems tO be
steadily moving in that direction, Int
achieved"
The second proposition is the present
plan of coming S2.tUO.oU per month.
''This IN now approved by nobody. The
so-rallcd silver men oppose il because IL
does not go for enough; opponents of sill
NeF coinage ut'tlouIlte u EstttSt tusN
deem il unwise and dangerous tn increase
the issue of - coin whose nominal value is
i'm excess of it's bullion value" The
third plan is increased purchases of silver
and coinage to the $i.OOO.OU limit. On
tins point the report quotes figures to
show the Increase in circulation since
March, 1879, and adds that "lf the pur-
chase Of 3JO.O0O,0OO ounces OF silver in
eleven years did not even stay the DOWN
ward tendency, what assurance have we
that doubling the amount purchased
would enhances it's value and restore elui-
librium 2" The fourth plan. free coinage
of standisrd silver dollars the fifth, which
is the coinage of silver dollars containing
a. dollars worth of bullion and the sixth,
which u0gests the issue of certificates to
depositors of silver bullion at the rate of
one dollar for 4l2E grains of standard sill
yer. are all disposed of i'm the report by q
repetition of the objections which the enc
Gnies of silver have urged for years. Thus
the secretary reaches his own plan, which
in given herewith.
WHAT WINDOW RECOMMENDS.
Issue treasury notes against deposits uf silver
bullion ut the market price Of silver when dcIos.
tied. payable On demand In such quantities of
silver bullion as u will equal In value. AT the date
of presentation, the number of dollars expressed
ON the face Of the notes at the market price Of
silver, or In gold, AT the option Of the govern
ment; or In silver dollars AT the option Of the
holder. Repeal the compulsory feature Of the