The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1891-12-19

from tne UnllGu states amounted 10 fhDiO, 400.
The production OF the United states Increased
from 5OOOIUOO ounces in 1857 to 64,0OO,OOO
In 1890 The government Is now buy
ing ana putting aside annually S4'9lI90'0I0
ounces OF new bullion used In the arts, is
6,BiU,OU0 more than our domestic prodncts avail
able for coinage. hope the depression in the
price OF silver Is temporary ana that further
trial OF this legislation will more iayorably
enect 1t. That the increased volume OF cur.
rency thus supplied for the use OF the people
was needed and that benehciul results upon
trade and prices have followed this legislation
think must be very clear TO every ones nor
should ~ he forgotten tnat for every dollar OF
THESE notes issued a full dollars worm of silver
bullion Is ut The time deposited in the treasury
as security for its redemption. Upon this sub.
1ect, us upon the tarin, my recommendation lS
that the existing laws be given n full trial and
that our business interests be spared the dis.
tressing influence which threats OF radical
changes always impart.
| am still of the opinion that the free coinage
| OF silver under existing conditions would disas.
| trously AFFECT our business interests at home
and abroad. We could no. hope TO MAINTAIN an
equality 10 the purchasing power of the gold
ana silver dollar IN our markets., ana In foreign
| trade the stamp gives no added value to the
onllion contained in COINS. The producers OF
| the country, its farmers and laDorers have the
highest interest that every dollar. paper or
coin, isSned by the government shall be AS good
us any other. II there is one less valuable
than another It's sure and constant errand
VIII be TO pay them for their toll;
and for their crops The money lender will
| protect himself by stipulating for payment in
| gold but the laborer has never been aDle to do
| that 10 place business upon silver basis
| would mean sudden and severe contraction
OF the currency, by the withdrawal of gold and
| gold notes and such an unsettling OF all values
as would producea commercial panic. l can
not De!leNe that people so strong and prosper
| GUS as ours Will promote such u policy.
| The producers OF silver are entitled 10
| just consideration, but they should not forget
that the government is now buying and putting
out on the market what is the equivalent of the
entire products OF our silver mines. This is
more than tney themselves thought OF asking
| two years ago. believe 1t is the earnest de-
sire OF great majority Of the people, as 1t is
| mine, that a full coin use shall BIZ made OF sill.
yer Just as soon as the 90 operntion of the
other nations can be secured and n ratio fixed
that will give circulation equally to gold and
silver. Tne business OF the world requires the
use OF both metals; but do not see any pros.
pect OF gain, but much OF loss, by giving up the
present system in which II full use is made OF
gold and large use of silver, for
| one in whith silver alone will cir.
culate. Such an event would be at
once fatal to the further progress OF the silver
movement. Bimetaltsm Is tine desired end, and
the true friends of silver will be careful not to
| overrun the good and bring in silver monomet
allism, with It's necessary attendants the loss
OF our gold to Europe and the relief of the
pressure there for larger currency. l endeav
ored to keep close observation OF the state OF
public sentiment in Europe upon this question,
and have not found it to be such
an international conference. There is, however,
1 um sure, a growing sentiment in Europe In
favor Of a larger use OF silver, and know of no
more etTectual way of promoting this sentiment
than by uccumulnting gold here a scarcity OF
gold in the European reserves will be the most
persuasive argument for the use OF silver.
THE TREASURY SURPLUS.
The presence OF large cash surplus In the
treasury has for many years been the subject OF
much unfavorable criticism and has furnished
an argument to those who have desired to place
the tariff upon purely revenue basis. II was
agreed by all that the withdrawal from circula.
tion OF 30 large an amount of money was an EN-.
barassment 10 the business OF the country and
made necessary the intervention OF the
department at frequent intervals to re-
lieve threatened monetary panics, The
surplus on March l, 1889, was Sl38 397,.
lvO.29. The policy of applying this surplus TO
the redemption OF the interest bearing securi
ties OF the United States was thought to be
preferable to that of depositing It without in
lerest in national banks. There have been re
deemed since the date last mentioned OF inter
est-bearing securities Sl59 079 $50 resulting in q
reduction OF the annual interest charge OF Sll :
bSi, 475. The money which had been deposited
in banks without interest has been gradually
withdrawn and used in the redemption OF bonds
The result OF this policy, of the silver legisla.
tion, and of the refunding of the ih per cent.
bonds has been large increase Of the money
in circulation. At the date last named the cir
culation was S..i0I 2O5 69j, or $2303 per capita
while on December l. 1891, it had increased tc
81, 57z 232, 075 or S3i3S per capita. The offer OF
the secretary of the treasury to holders OF the
4l1 per cent bonds to extend the time of redemp
tion, at the option of the government, at an in
terest of per cent, was accepted by the
holders of about one half the amount, and tht
uneXtended bonds are being redeemed on pre-
sentation.
THE WAR DEPARTMENT.
The report of the secretary of war exhibits
the results OF an Intelligent progressive anC
business-lilie administration OF department
which has been too much regarded one o
mere routine. Some especially good work ha
been accomplished. The efforts OF the secre
tary to reduce the percentage of desertions b.
showing the causes that produced 1t have beei
so successful as to enable him to report for tn
last year lower percentage OF desortions thai
has been before reached in tho history OF tn
army
The work of securing sites for shore batterie
for harbor defense and the manufacture of moi
tars and guns of high power TO equip then
have made good progress during the year
The preliminary work OF tests and plans whic
so long delayed start, is now out OF the way
Some guns have been completed, and with al
enlarged shop and more complete equipmenta
Waterviet the army will soon be abreast of tn
navy in gun construction Whatever unavoida
BILE causes OF delay may arise there should D
none from delayed or insufficient appropra
tions We shall be greatly embarrassed in tn
proper distribution and use OF naval vessel
, until adequate shore defenes are provided TO
our harbors.
concur in the recommendation of the secre
tary that the three battalion organization b
adopted for the infantry. Tho adoption OF
smokeless powder and of n modern rifle eQua
; in range, precision and rapidity of fro to tn
! best now In use will, hope not be longer de
layed. The project OF enisting Indians and oil
ganiZing them into seperate companies upo
the same basis as other soldiers was made tn
subject OF very careful study by the secretur
and received my approval. Several companie
have been completely organized and sever
more are in process OF organiza ion. Tho re
suits OF six months training have more thai
realized the highest anticlpatlons.
UNLAWFUL CHINESE IMMIGRATION.
The enforcement by the treasury departmen
, OF the law prohibiting the coming of Chinese I
the United States has been effective as to sue
/, as seek to land from vessels entering our ports
The result has been to divert the travel to yes
sells entering the port OF British Columbia
whence passage into the United States ut oh
scure points along the Dominion boundary
easy a considerable number of Chimes
laborers have, during the past year, en-
and Mexico, The officers of the treas
, ury department and Of the department
OF justice have used every means at their CON
r mand to intercept this immigration; but tn
, mpossibility OF perfectly guarding our extend
, ed frontier is apparent. The dominion govern
ment collects head tax of $40 from every CHI
naman entering Canada and thus derives a con
{ siderable revenue from those who only use 1t
, ports to reach position OF advantage TO eYad
I our exclusion laws There seems TO be salts
factory evidence that the business of passin
! Cnlnamen through Canada to the United State
/ l. organized and quite active. The department
of justice has construed the laws To require tn
, re urn of any Cinnamon found 10 b
, unlawfullv in this country to China a
/ the country from which he came notwithstand
ing the fact that he came by way OF Canada
but several of the district courts have. in case
brought before them, oyerruled this view OF tn
law and decided that such persons must be re
+ turned to Canada. This construction robs tn
law OF all effectiveness even il the decree
could be executed, for the man returned cal
. the next day recross our border Blu, the onl
, | appropriation made is for sending them bac
/ to China and the Canadian officials refuse /
! allow thsm to e.enter Canada without the pay
ment u: the $50 head tax recommend sue
legislation as will remedy these defects in tn
law
In previous messages have called the al
tention OF congress TO the necessity OF so eN