The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1889-12-19
Secretary Window on Silver.

OS~~~ v
! A large part Of the report of the Secrs
tary of the Treasury is taken up withA
discussion Ct the silver question.
He discusses at some length the Gauges
of the depreciation Of silver since B7s
and the remedies proposed Under Ehe
latter head he says:
Various solutions of this problem
have been proposed, among which the
following may be mentioned:
10 An international agreement fix
ing a ratio between silver and gold, and
opening the minis of the leading nations
of the world to the free coinage OF both
metals, at the ratio SO established. t
In such concrete of action, if il could
be secured, is the final and satisfactory
soluti IN of the silver problem.
'(2) The present policy of purchasing
and coming $2,000,00 worth of Glver per
month.
This is not approved by anybody
''Tne SO ca led silver men oppose it
because it does not go far enough to
meet their wishes; opponents Of silver
cola ge denounced it because they dee IN
it unwIse and dangerous to increase the
issue of coin whose nominal value i,
far in excess of its bullion valus
''(3) Increased purchases and coinage
of silver to the maximum of $4,000 900,
worth per month, now authorized by
law.
This policy is proposed by many as
means of increasing our circulation
which they assert is deficient by reason
of the retireme ut of national bank notes.
and also as d means of enhancing the
value of silver by absorbinglthe worlds
surplus product. Both of those objects
ma ue far better secured. AS will be
sh ,wn here frf by another method
which posesse- all the advantages of in
creased coinage, md invoices none of it's
dangers.
Issue treasury noted against deposits
of silver bullion at the market price Of
silver when deposited, payable on de-
mand in such quantities of silver bull
lion as viii equal in value. at the date
of prescription. 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 government; or in silver
dollars, at the option of the holder. Re
peal the compulsory feature of the pres
ent coinage act"
Mr.. Window states his objections to
the policy of treating government money
on deposit with the national banks. He
regards it as a very serious and dan ger
Gus pre- cedent itself and intimates that
he will take the safest means to over
come it without disturbance to trade
We turn now from the consideration
of the silver question to Mr.. Window
views upon the tariff He shows that,
exclusive of the sinking fund. we are
likely to have an annual surplus revenr e
49, Il o. -
G )uld be- used in strengthening coast de-
lenses and bui ding up the navy Rut
the only available method of Getting
this money back to the people is by bur,
ing bonds. NJ. Window stands upon
the position that it is folly and unjust
to tx the people heavily simply, in
order that the bonds may be reduced at
saving of 2 per cent interest. He be-
] ewes that the surplus should be re-
duced by a reduction of taxation, ard
he recommends decidedly the abolition
of the tobacco tax, and suggests that
impose upon alcohol used in the arts
should also be removed.
He is also in favor of revision of the
tariff, but believes rhat revision should
be made not by horizontal reduction,
which would be likely to increase the
revenues; nor by tariff for revenue
only, which would be likely to take
from American producers their home
for $3 )0.0]0 0)0 of their products
and transfer it to foreign competi-
tors; but by such an adjustme MT of du-
ties on imports in which protection to
home industry is a governing consid-
GRAFTON as will lead to reduction of
the revenue without imperilling Amer
lean interests.
Mr.. Window believes that it is en-
tirely within the power of congress to
frame such a hill. and he believes it to
be the duty of congress to do so at once.
Mr.. Window is strongly in favor of
the continuance of protection to Ameri-
can commerce hearers. and he favors
very liberal pension legislation.
The fight between the knights of
Labor and the Leather Manufacturers
Association at Woburn, Mass. is now
we'll inaugurated. Six factories are now
closed, throwing from 900 to 800 men out
of employment.
There are $40 cases of influenza among
the employees of the great dry goods
store, the Magasin du Louvre, in Paris,
and in other large stores in the same
city the disease prevails to an equal
extent.