The times. [volume] (Richmond, Va.) 1890-1903, 1891-12-10

Government shall be NJ good A. an, o., 'ns
III tnere ls one less valuable than anotie, ~.
sure and constant errand will be n -
them for their toll and for their py
Inc monsy-lsnder Will protect his,e':
| by stlpuatlng for payrnenf
gold, but the laborer has never Cen ,,,. N
do that. To place business on silver 80
would mean sudden ana severe cortr.o.-,s
OF the currency. by the withdrawal ~ ,ty
and gold notes Of such an unsettling w,
values as would produce commercial ~ ~
i cannot believe that people so strotg,.i
prosperous az ours will promote such 1oi
ICY. The producers OF silver are ante ~
Just consideration but they should n 60.
that the Government Is now buyino all -
ting out on the market the equlvalent ~ ~
product OF our entire silver mines 1t'
Is more than themselves tbor,i 'A.i
asking two wears ago. / believe Il is H..
est desire OF great ma Oriiy o. the peo,fe
u Is nine that a full coin use shal. be tosl.
silver Just a. soon as the cooperation M .'t
nat ons can be secured and ratio fxs9 ~,
w.I give circulation equally - GOLD s-T
silver. The business OF the world 80
the use OF both metals but ( DO not Isl. -
prospect OF gam, Int much OF loss bv 49,
up the present system ia which "A fufir
made OF god. and large use Of silver forl-'
10 when SILVER alone will circulate Sgch +.
event would 10 40 once fatal fo ~
further progress Of the siive- .-'
ment Bmeta.hsm IS the desired enS ~
the true friends of silver wi.l be- caro.,f 80
10 oyerrun the < al and bring Ia silye-,..--.. -
metallsm with rs Necessary afteuIarts
loss OF our gold % kurore and tho re.es.t
the pressure there FOR larger clrrencv
have endeavored by the use of oecai an,
official agencies 10 keep q close 0t.ervsf..., -
the state OF public sentiment in mona ~
this question aud have not f.rnf -
be such as 10 Justify me N prop0si. d,
ternational COME rence. There IS. .reve-
feeling IN favor Of larger use of a. .er AMI
know OF no more eiectual vay oi prauo,,,,
TINS sentiment than by accumuatnr gT1
here. scarcity OF gold IN the ur0.eas "a
serves Will be the most persuasive sr.lmetts
TOR the use OF silver
The exports OF gold 70 Fur0pe. wh.bba
gan IN ebruary last and cont uued totba
close Of July, aggregated over SNnlIOM
Inc net loss OF gold during fiscal gas-
was nearly 500 000 That no .er....
monetary disturbance resulted was most
gratifying aud gave Co Europe fresh evidence
OF the strenth aud stability OF our financial
institutions. With the movement OF c-ons
the outflow Of gold was stopped and return
set In. E. p to December we have received
of our gold loss ct the p.rt Of New lork
r21 S54 900. and II ls congdeu .y bel eyed fla.
during the winter and sprng tits aggreg,s
will be steadily and largely increased
TIE TREASURY SUPPLE
The presence Of large cash surplus In ts.
Treasury has FIR many years been thesnb.art
OF much unfsyorahle criticism and has Inn.
nished an argument 20 those WHO have ds.
sired to place the tariff upon purely rove.
nue. basis. Ii was agreed BY al that the with.
drawal from circulation OF 80 large am amount
OF money was an EN- oarassment Oh the BUSH
ness of tho country. and made necessary the
Intervention OF the departmental ire laent 10.
teryals g. relieve threatened monetary pauics
The surplus on Marchl J. 1889. va, tl,3.,lli0.
The policy OF applying this surplus
@ the redemption of the interest bear-
ing securities of the United States was
though % be preferable O. that of deDYsitng
IL without interest m selected national banks
There have been redeemed since tle date last
mentioned of interest hearinr securities
sZ59O7A3f0 resulting in a reduction OK the
annual interest charge of sl.nlgj Tho
money which had been dep0s ted in banks
without interest has been gradually with.
drawn and used in the redemption of bonds.
The result of the policy OF the silver Ieg,sa.
ton and Of the reminding # the per rent
bonds has been large Increase II the money
in circulation. AZ the date last named the
circulation was ~ .4Of. 205.Slf. OF el3O} usf
capita while on the first day OF December R9I
il had increased % sl.577 ,2620lO or "a. ls per
capita The offer Of the Secretary Of ibo
Treasury % the holders of tho per cent
bonds 20 extend the time Of redemption 10
the option Of the Government 40 an interest
Of per cent. WAS accepted By the holdsrd
about one-half the amount. and tho ulI
tended bonds are being redeemed on presel.
tatiOn.
REPORT OF SECRETARY or WAR.
The report Of the Secretary " War e1hIb.
tied the results of an intelligent and business
like administration Of "a department which
has been too much regarded a. one OF mere
routine. The separation Of Secretary Proctor
from the department by reason of hls appoint.
ment as a Senator from Vermont -
source Of great regret to me and 10 bis col.
leagues IN the Cabinet ~ ! am sure d will be-
10 al those who have had business with tie
Department while under his charge ia tbs
administration of army affairs some esrec-
ially good work has been accomplished. The
efforts OF the Secretary 20 reduce tie per-
centage of desertion by removing the cause
that promoted Il have been SD successful as &
enable him 20 report for tho last year a lower
percentage OF desertlOns than has been before
reached IN the history Of the army. Tho re-
suting money saving Is consideFa le bat the
improvement IN the morale of tho enlisted
men Is the most valuable incident o.. the ne.
forms which have brought about this result
The work of securing sites for shore batter
ies for harbOr defense and the manu- acrur9
OF mOltars and guns Of high power 10 equip
them has made good progress. During tle
wear the preliminary work OF tests and plans
which SO long delayed start. is now out NJ
the way. some guns have been completed.
and with an enlarged shop and a more com.
pete equipment at Wateryhet. the army viii
soon be abreast Of the navy IN gun c0nstfl,-
ton. Whatever unavoidable causes Of de4g
may arise there should DO none from De-
layed or insufficient appropriations. We ,liA
be- greatly embarrassed m the proper iisiu-
button anduse OF naval vessels until ale lais
shore defenses are provided tor our hartofa
concur IN the recommendation OF the -fcfe-
tary that the three battalion organizations 10
appointed for infantry The adoption %,
smokeless powder and Of modern rife eIuh
in range. penetration and rapidly OF pro %
the best IN use will be no longer delayed
ESLsTBG INDIANS.
The project of enlisting indians ani organ
izing them into separate companies Oh
the Same basis az other 'i-lsl1
was made the subject ~ cMoil.
study by the Secretary and receiver
nv approval Seven companies AHf" ""e-
Organized and seven more are 20
process Of organization. Tie results * "a
months training have more than r1Aillei w
highest anticipatiOns. The men are ieAe"I
brought under discipline. acquire INC oi".
with facility and show great PRIDE ln .lo
right discharge Of their duties anu Fe,.'V.
Loyalty 20 their officers. who declare thAl we,
would take them into action WIN priv.
confidence. The discipline. order ana .'-1'
illness of the military posts WILL ha.o W.
some and eleyating influence upon tNe .-o-
enlisted and through them upon lher w..
-. lI.r "a