Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1891-12-17

I
7! things that enter into the living Of the masses
of the people. believe that full text VII! do
velop the fact that the .ariact OF the Fifty ars!
upon the prices OF articles entering into COM
| mon use.
During the twelve months from October /,
1890 to September 80 1891. the total value of our
| foreign commercs imports and exports COM
of amy year in the history of the United States.
when our oommeree amounted to s1,647. is,-
NOUS aSsreease b. over sloe e Il enter
/ esting and TO some VIII be surprising, 10 know
that during the year o ending ssRssbsE 80 1ssl
os more than ,s silosseo an over 3eFs sss
spending po months of the preceding year when
/ the imports of merchandise were unusually
large IN anticipation OF the tariff legislation 10
/ imports of merchandise for the ten years from
ISL TO 1890 was s6a2 ls6 ss2 and during the year
was escesaed BY s a6s The 1 value Of free
IMPORTS duT T the twelye months ending Sep,
eane 81 7 polts during no the theo
/ spending twelve months Of the pre-
csseding years, and there was during
| 50S in the value of imports of dutiable merchan-
/ disc The percentage of merchandise admitted
reference. the firsf under the new tarf. was
- Is. while during the preceding twelve months,
under the old tariff, the percentage was 81 q. an
l
months ending September 30 last, which covers
| the time during W hich sugars have been admit
| chandise imported free of duty is found TO be
55.31. which Is larger percentage Of free i'm
| ports than during any prior fiscal year N the
history of the government. If we turn 10 exports
| of merchandise the statistics are full of graf
/ ificati2n. The whole Of such exports of mer-
Der 50. ISL. was Sas36sI. 1S6 While for the cor
responding previous twelve months Ii $50,
IL lis an increase of Sa GA G2l which is near
IL YT7cr of
exports OF merchandise during any year in the
history of the government The increase in the
the year referred TO over the corresponding
twelve months prior was Si5.Si6,l91. while the
increase in the value of exports of manUfac-
tured products was Sl6.SS.2te
The report of the secretary of the treasury
shows that the total receipts OF the govern
ing june 30 1871, were si5s sS8(s. While the
expenditures for the same period were SCI.
40. 10. leaving surplus OF So -. 1881
The receipts Of the fiscal year ending June 30,
1S92. actual and estimated. are sfS5.euool, and
the expenditures Si,p,00D,eco For the fiscal year
ending June - ISt;. the estimated receipts are
si15, 6.>5-d, and the expenditures s+41.sl1,US
Under the law Of July Il, 1870. the
since August IS, during the fiscal year. IS S, rs
ounces OF silver bullion. a. an average cost Of
slo45 per ounce The highest, price raid during
ekchapgs t25 th5s stlysr bullion there have been
reached during the fiscal year was 50 $685. on
April -. 1921: but on November ] the market
price only 1926 which would give 10 the
Silver dollar bullion, value OF .iia cents
Before the influence of the prospective silver
legislation was felt in the market silver was
worth in New York about $685. per ounce.
The ablest advocates of free coinage IN the last
congress were most confident IN their predic
ton that the purchases by the government
price of silver 70 81 ae9 per ounce. which would
make the bullion value of dollar 100 cents.
hold
silver men OF disasters TO result from the coin
age OF 2.t0VD per month we're not wider OF
not agreed. think, rs &c. the causes
that brought their hopeful predic-
tons TO naught. Some facts are known. The
exports OF silver from London 10 India during
the first nine months OF the calendar year fell
of 80 per cent. or Sl7 Or. 30 compared with the
same months of the preceding year The ez-
t-y. Which has Averaged for the last ten years
recent years, the imports OF silver into
this country. s5eeeded the exports by
year the net exports OF silver from the United
States amounted TO SS-5i5f55. The production
OF the [ nited States increased from SooG,oO
eminent Is now buying and putting aside 5,Ug,-
90 ounces which. allowing for 1.l400O ounces
OF bullion used in the arts, Is 6,6s0o 900
age. hope the depression In the price of silver
Is temporary and that IpTIheg IrlaI OF ihls
the increased volume of currency
thus supplied for the use of the peo-
pie was needed. and that beneficial results
upon trade and prices have followed this legis-
lation think must be very clear TO everyone:
nor should 1t be forgotten that for every dollar
OF these notes issued, a full dollar worth OF
silver bullion is st the time deposited IN the
treasury as security for its redemption Upon
this subject. as upon the tariff. my recon-
mendarion is that fhe existing laws be given
full trial. and that our business interests be
spared the distressing influence which threats
Of -ai -og rf7- ak INNS
The producers OF silver are entitled to Just
consideration. but they should not forget that
the government Is no" pu!lns ana puItins OUT
of the market what Is the equivalent OF the en-
tire product OF our silver mines This Is more
than they themselves thought Of asking two
years ago. I believe 1t Is the earnest desire Of
great majority OF the people. It is mine that's
Tull coin shall be made Of silver just soon
cured and a ratio fixed that viii give cir
culation equally TO gold ana silver
81 -metallism Is the desired end and the true
friends OF silver viii be careful not to ovsTrIn
the goal and bring II silver nonometaliiSIn.
with its necessary attendants the loss Of our
there for a larger currency. / have eIIdeayored
By the use OF official agencies to keep close OBJ
Europe upon this question, and have not found
It 10 be such 10 justify me in proposing Al in
ternational conference There Is, however
am sure a growing sentiment N Europe n favor
of larger use Of silver.
The exports of gold 70 Europe. which began IN
February last and continued until the close Of
OF gold during the fiscal year was nearly sos--
cocoa That no serious monetary disturbance
rope fresh evidence of the strength and stability
of our financial institutions With the move
ment OF crops the outflow Of gold was speedily
stopped. and a return set in Up 10 December
l We had recovered OF our gold loss al the port
Of New York -. s.. 600. and 1t Is confidently be
l'eved that during the winter and spring this a-
gregate VIII be steadily and largely increased
THE TREASURY SURPLUS
The presence Of a large cash surplus IN the
much unfavoTable criticism and has furnished
an argument 10 those who have desired % pla<e
agreed by al that the withdrawal froI,, ci-cJla-
ton OF 80 large amount OF money was an
embarrassment TO the business OF the country
and made necessary the intervention OF the de-
partnent ST frequent intervals 10 relieve threat
ened monetary pa1Ics tne surplus On AaTcn /
this surplus 70 the redemption OF the inter
est bearing securities OF the United States
was thought TO be preferable TO that Of deposit
ing IT without interest IN selected national
banks. There have been redeemed since the
date last mentioned of interest bearing ssTFi-
annual interest charge OF ST. 6Si.6.5 The money
which has been deposited IN banks without IN
terest has been gradually withdrawn and used
in the redemption of bonds
The result of this policy. of the silver legisla
ton and of the rsfunding OF the t1s per cent
culation was 81. 404 a5. so6 ss30s per capita,
increased 10 81 5772as0 orc or Ssi 5 per capita
The offer of the secretary Of the treasury TO the
holders of the Ala per cent. bonds to extend the
time OF redemption st the option of the gov
eminent. at an interest Of per cent. was ac
cepted by the holders of about one-half the
amount and the unattended bonds are bang
redeemed on presentation
THE WAR DzsAzTNKSr.
-Fte report OF the secretary of war exhibits
the results Of an Intsl&gent-s progressive. and
business Hike adrninstTatonsof -a-deparfment
which has been tce; much regarded rs one Of
mere roafspe he separarian of Secretary
ProcsornT aN atsby reason Of his