New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-12-10
PART II.
PAGES II TO IL.

ment in gVd, out the laborer has never been
able 10 do that To place business upon silver
basis would mean a sudden and severe contraction
OF the currency, by the withdrawal OF goid ana
gold notes, and such an unsettling OF al values
as would produce a commercial panic. can not
believe that q people 50 strong ana prosperous as
ours will promote such policy.
The producers OF silver are entitled TO Just con-
sideratIon, but they should not forget that the
Government Is now buying and putting out OF the
market what is the equivalent OF the entire pro-
duct Of our silver mines. This II more than they
themselves thought OF asking two years ago. 1
believe il is the earnest desire Of great majority
Of the people as IL il mine, chat full coin use
shall be made OF silver just as soon as the CO.
operation OF other nations can be secured and
ratio fixed that will give circulation equally u
gold and silver. The business OF the world re-
quires the of both metals: hut do not see
any prospect OF gain, but much OF loss. by giving
up the present system, in which fuii use Is maue
OF gold and a large use of silver, for one In winch
silver alone will circulate. Such an event would
be at once fatal TO the further progress Oh tue
silver movement. Bimetallism is the desired emo.
and the true friend OF silver Will be careul not 10
overrun the goal and bring in silver monoinetal-
ism, with Its ccessary attendants. the loss o.
our gold 10 Europe and the relief OF the pressure
there for larger currency. / have endeavored.
by the use of official and unofficial agencies, to
keep a close observation Of the state OF puDuo
sentiment in Europe upon this question: and have
rot found it to he such as to justify me In pro-
posing an international conference. There IS. how
ever, / am sure, growing sentiment IN Europe IN
favor of larger use Of silver and L know OF
no more etfectual way OF promoting this sentlment
than by accommodating gold here. a scarcity OK
gold in the European reserves will be the moss
persuasive argument for the use OF silver;
The exports of gold to Europe. which began IN
February last. and continued until the close or
July aggregated over S70000.000. The net loss
of gold during tn, fiscal year was nearly $685.
100000. That no serious monetary disturbance
resulted was most gratifying. and gave to Europe
fresh evidence of the strength and stability Of
financial institutions With the movement OF
crops the outflow Of gold speedily stopped. and
a return set in Up 10 December ]. we had re-
covered Of our gold loss at the port Of New-fork
1884, 900, and il is confidently believed that
during the winter and spring this aggregate VIII
lie steadily and largely increased.
TIE SURPLUS.
The presence of large cash surplus In thu
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. 1t was agreed
by all that the withdrawal from circulation OF so
large an amount of money was an embarrassment
to the business of the country and made necessary
the Intervention of the Department at frequent in
tervals TO relieve threatened monetary panics The
surplus on March /, 1899, was Sls3,s21 100 20.
The policy of applying this surplus to the redemp-
ton of the bearing securities OF the United
States was thought 10 he preferable TO ihat Oh ue
posting it without interest III selected Nau9nal
banks. There have been redeemed since toe date
last mentioned OF Understanding securities S2oo,-
O70,350 resulting in reduction OF the annual IN
terest charge of 81 ,6Si,675 The money wh l
had been deposited in banks without interest has
been gradually withdrawn and used In the redemp-
ton of bonds.
The result of this policy, of the silver legislation,
and of the refuading Of the Az per
cent bonds has been large Increase Ease
of the money in circulation. AT the date last
named the circulation was 81 ,4Oi, ?oo,sgo, or
S23 % per caBts while on the LIST day OF Deem
Der, 1891, it had increased TO Sl,5Us2oI,Olo, or
S2l IS per capita The offer Of the Secretary OF
the Treasury TO the holders Of the IL per cent
bonds to extend the time OF redemption, az tne
ontion of the Government, at an interest oil per
cent was accepted by the holders OF ABOUT one
half the amount, and the uneNtended Donds are DO
ing redeemed on presentation.
THE WAR DEPARTMENT.
The report Of the Secretary of War exhibits tho
resuks of an intelligent, progressive, ana business
like administration of a Department which mas
been too much regarded as of mere routine.
The separation of Secretary Proctor from the De-
partment by reason of his appointment as
senator from the State of Vermont is a source OF
treat regret 10 me and to his colleagues In the
Cabinet as | am sure il will he to all those VINO
have had business with the department. "hiie
under his charge. - -
pecially good work has been accomplished. The
efforts OF the Secretary TO reduce the percentage
of desertions by removing the causes that pro-
NOTED it have been successful as TO enable him
TO report for the last year lower percentage OF
deseriiOn than has been before reached In the
history of the Army. The resulting money saving
is considerable, but the improvement in the morale
OF the enlisted men is the most valuable incident
OF the reforms which have brought about TINS
result.
The work of securing sites for shore batteries
for harbor defence and the manufacture of mortars
and guns oil high power 10 equip them, nave
made good progress during the year The pre-
iiminary work of tests ana plans, which so long
DELAYED a start Is now out of the way. Some
guns have been completed, and with an enlarged
shop and more complete equlpneht az MaVer
vet the Army will soon be abreast OF the Navy In
gun construction. Whatever unavoidaDe causes
OF delay may arise, there should be none from
DELAYED or insufficient appropriations. We shall
he Greatly embarrassed in the proper distribution
and use of naval vessels until adequate shore
defences ae provided for our harbors,
concur in the recommendation OF the secretary
that the hree-battalion organization be adopted
for the infantry. The adoption OF smokeless
powder and of a modern rifle equal in range, pre-
cision, and rapidity of fire to the best now IN USE
will, hope not be longer delayed.
Inc project OF enlisting Indians and organizing
them into separate companies upon the same basis
careful study by the Secretary, and received my
approval Seven companies have been COM
pietely organized and seven more are in process
of organization. The results OF six months train
ing have more than realized the highest anticipa-
tons The men are readily brought under dsc-
pline, acquire the drill with facility, and show
great pride in the right discharge of their duties
and perfect loyalty to their officers, who declare
that they would talte them into action with conf.
dence The discipline, order, AMI cleanliness OF
the military posts will have wholesome and ele-
waiting influence upon the men enlisted, and
through them upon their tribes, while more
friendly feeling for the whites and a greater re-
spect for the Government VIII certainly be pro-
NOTED.
The great w0r, done in the Record and Pen,
sion Division of the War Department by Major
Ainsworth of the Medical Corps, and the clerks
under him. is entitled to honorable mention Tax
ing up the work with nearly 4 900 cases behind.
he closed the last fiscal year without single case
LEFT over, though the new cases had Increased
50 per cent in number over the previous year by
reason of the pension legislation Of the last Con-
gress. ur,,,,>,r
concur in the recommendation Of the Attorney.
General that the right in felony cases 10 a review
by the Supreme Court be limited. 1t would seem
that personal liberty would have a safe guarantee
IL the right of review in cases involving only fine
onh i.nnrisnnment were limited 10 the circnit