The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1891-01-09

price Of silver has been observed with re-
greet. The rapid rise Ia price which ans
~ticipated and followed tho passage OF the
act was influenced in some degree BY !specu.
tSSg tasait 81 tths Sans taass. lid ii
part of the recent monetary disturbances.
Some months of further trial will be neces-
sary to determine the permanent effect OF
the recent legislation upon silver values,
but 1t il gratifying to know that the in
creased circulation Secured t32y the act has
sx ! an Yas VII son 4aH S,s to s exe It, 3 most #ost
s esnsfsla 'I aai,ssn'2 A ffRH GGsl hss ,ao q f BgsH
thought BEST to renew formally the sugges-
tioh OF an International conference looking
to an sgtenmeht totchihs the full, use Of
silver for coinage at o uniform ratio, care
has been taken to observe closely any
change in the situation abroad, and no
a { &gaaIt 0pp sHieR I , { lost s 20 RSSS%sss
believed would confer very largo
benefits upon the m of the world.
The recent monetary disturbances in Eng
land are not unlikely to suggest a re-exam-
ination of opinions upon this subject. Our
very large supply ,of gold Will; Il not lost by
est of silver, give us a position of advantage
in promoting a permanent and safe inter-
national agreement for the free use of sill
yer as a coin metal. The efforts OF the Sec
rotary to increase the volume of money in
circulation by keeping down the treasury
been unfem1tting and in a very high degrees
successful: The tables Presented by him,
showing the inErease Of money in circula-
ton during the last two decades, aid espe-
cially the table showing the increase during
the nineteen months ne has administered
ing and instructive. Tke ihcreass OF money
in circulation during the nineteen months
has been in the aggregate 500, s66, s13, or
about 1.5o per capita, and OF
this increase only s7,1Oo,O0 was
due to the recent silver legislation.
That this substantial and needed aid given
to resulted In an enormous re.
nual interest charge is a matter OF increased
\ satisfaction. There nave been purchased
and redeemed since March 4, 1880, 4 and ~
per cent. bonds to the amount of sail 1872, =
450, at q cost Of S24G, 62O, TAI, resulting in the
reduction of the annual interest charge Of
SS,9 G7, 900, and a total saving OF interest o.
S51, 576, 706. I notice with great pleasure
the statement of the secretary that the re-
ceipts from internal revenue have in.
creased during the last fiscal year nearly
il ,0O0,O 900. and thu the cost OF collecting
this larger revenue was less by S90,617 thur
for the same purpose in the preceding year
The percentage of cost Of collecting thu
customs revenue was less for the last fsca
year than ever before. The customs ad
ministration board provided for by thu
act of June 10, 1890, was selected will
great care and is composed in part o
men whose previous experience in the ad
ministration OF the old customs regulation
had made them familiar with the evils t
be remedied, and in part OF men who's
legal and Judicial acquirements and expert
ence seemed to fit them for tile Work OF in
terpreting and applying the new statutes
The chief aim of the law is to secure homes
} valuations Of all dutiable merchandise an
to make these valuations uniform at al
our ports of entry. 1t had been maze man
ifest by a congressional investigation tina
a system of undervaiuation had long bee
in use by certain classes Of importers, re
: sulting Lot only III u great loss Of revenue
5 but in a most intolerable Discrimination
against honesty. 1t is not seen how thi
legislation, when it is understood, can b
regarded by the citizens of any countr.
having commercial relations with us as I'm
friendly, If any duty is supposed to be ex
%cessive, let the complaint be lodged there
1t will surely not be claimed by any we'll
disposed people that a remedy may b
sought and allowed in a system Of quas
SmDpr1inp.