Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1890-12-05

tAe account on either side. The loss of revenue
from customs for the last quarter is estimated al
0,OOO but from this is deducted a gain Of
about SIG, 0,00O realized during the first foul
months of the year.
For the year 1892 the total estimated receipts
are $373, 600, and the estimated expenditures
1857, S52, 2Os AZ, leaving estimated surplus Of
$15, l47, 05S which, with cash balance of $52
oOo,0OO at the beginning of the year. will give
$67, $50 81 as the sum available for the redemp
ton of outstanding bonds or other uses. The
estimates of receipts and expenditures for the
Postoffice department. being equal, are not in
Guided in this statement on either side.
The act directing the purchase of silver bullion
and the issue of treasury notes thereon" APP
proved July H. 1890, has been administered by
the secretary of the treasury with earnest pur-
pose to get into circulation at the earliest possible
dates the full monthly amounts of treasury notes
contemplated by it's provisions and at the same
time to give to the market for silver bullion such
support as the law contenplates The recent de-
probation in the price of silver has been observed
with regret. The rapid rise in price which antici
pated and followed the passage of the act was in.
fuenced in some degree bv speculation, and the
recent reaction is in part the result of the same
cause and in part of the recent monetary disturb
ances. Some months of further trial will be neces
sary to determine the permanent effect Of the re-
cent legislation upon silver values but it is graft
cnred by the act has exerted aud will continue to
exert most beneficial influence upon business
and upon general values
While it has not been thought best to renew
formally the suggestion of an international con-
ference looking to an agreement touching the
full use Of silver for coinage at a uniform ratio.
care has been taken to observe closely any
change i'll the situation abroad. and no favorable
opportunity will be lost to promote result which
1o.rr
benefits upon the commerce Of the world
The recent monetary disturbances in England
are not unlikely to suggest REORGANIZATION OF
opinions upon this subject Our very large sup
ply of gold will, if not lost by impusive legsla,
ton in the supposed interest of silver give us
position of advantage in promoting permanent
and safe international agreement for the free use
of silver as coin metal.
Avoiding Monetary Stringency.
The efforts of the secretary to increase the vol
ume of money in circulation by keeping down the
treasury surplus to the lowest practicable limit
have been unremitting and in very high degree
successful. The tables presented by him showing
the increase of money in circulation during the
last two decades and especially the table showing
the increase during the nineteen months he has
administered the affairs of the department, art
interesting and instructive. The increase OF
money in circulation during the nineteen months
has been in the aggregate $93. S66, S13 or about
$50 per capita, and of this increase only 81 1OO-
900 was due to the recent silver legislation That
this substantial and needed aid given to com
merce resulted in an enormous reduction of the
public debt and of the annual interest charge is
matter OF increased satisfaction. There have
been purchased and redeemed since March 4
1889, 4 and ~ per cent. bonds to the amount OF
$211 S32 49, at cost of S46. 620,741 resulting il
the reduction of the annual interest charge q,
lnn t>I .kHr
So 706.
notice with great pleasure the statement O,
the secretary that the receipts from internal reve
nue. have increased during the last fiscal yea
nearly S12,OO000O, and that the cost of collecting
this larger revenue was less by S90,617 than fol
the same purpose in the preceding year. The
percentage of cost of collecting the customs reve
was less for the last fiscal year than ever be
fore.
The customs administration board provided fol
by the act of June TO- 1890, was selected with
great care and is composed in part of men whose
previous experience in the administration of the
old customs regulations had made them famlia,
with the evils to be remedied. and in part of mer
whose legal and judicial requirements and expe
rience seemed to fit them for the work of inter
preting and applying the new statute. The CHIEF
aim of the law is to secure honest valuations OF
all dutiablc merchandise and to make these valu
atoms uniform at all our ports of entry
1t had been made manifest by congressional
investigation that system of undervaluation
had been long in use by certain classes of import
ers resulting not only in great loss of revenue
but in a most intolerable discrimination against
honesty. 1t is not seen how this legislation when
it is understood, can be regarded by the citizens
Of any country having commercial dealings with
us unfriendly. If any duty is supposed to be
excessive let the complaint be lodged there II
will surely not be claimed by any wei disposed
people that remedy may be sought and allowed
in a system of quasi smuggling.
The Attorney Generals Report.
The report of the attorney general is under the
law submitted directly to congress, but as the de
partmertt of justice is of the executive depart
ments some reference to the work done is appr0
pirate here.
vigorous and, in the MAN, an effective effort
has been made to bring to trial and punishment
all yiolatOrS of the law: but, at the same time
care has been taken that frivolous and technical
offenses should not be used to swell the fees OF
officers or 10 harass well disposed citizens. Espe
cal attention is called to the facts connected with
the prosecution of violations of the election laws
and Of offenses against United States officers.
The number of CONVICTIONS secured. very many OF
them upon pleas of guilty, WILL it is hoped, have
salutary restraining influence. There have been
several cases where postmasters appointed by me
have been subjected to violent interference in the
discharge of their official duties and to persecu-
tons and personal violence Of the most extreme
character.
Some of these have been dealt with
through the department of justice, and in some
cases The postoffic.s have been abolished or sus-
pended. have directed the postmaster general
to pursue this course in all where other eff.
forts failed To secure for any postmaster not him
self IN fault, an opportunity peacefully to exercise
the duties of his office. But such action will not
snpplant the efforts of the department of justice
TO bring the particular offenders punishment.
The vacation by judicial DEGREES of fraudulent
certificates OF naturalization upon bills in equity
hled by the attorney general ill the circuit court
OF the United States is application of a
familiar rqnty jurisdiction. Nearly one hundred
such DEGREES have been taken during the year. the
evidence disclosing that very large number OF
frsrMdnlent certificates of naturalization have been
issued. And in This connection | beg to renew
my recommendation that the laws I've 50 amended
as 10 require more full and searching inquiry
into all the facts necessary naturalization be-