The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1891-12-09

ten years from 1881, was 92sl6,52 and dur
Ing the year ending Sept. 30 1891 this annual
average was exceeded by Sl39, jG9
Ere eImports.
The value Of free imports during the twelve
months ending Sept. 3d. 1891, was sl1s,Og2. 1887,
more than the value of free imports during the
corresponding twelve months of the preceding
year, and there was during the same period a
decrease Of SlO6 6,SiG,50S in the value of imports
of dutiable merchandise The percentage of
merchandise admitted free of duty during the
year to which have referred, the first under
the new tariff was 4S.1S, while during the pre-
cedng twelve months, under the old tariff the
percentage was 8.27, an Increase of 1891 per
cent. If we take the six months ending Sept
BO last, which covers the time during which
sugars have been admitted free of duty, the
per cent of value of ofmerchandise imported free
of duty is found to be 5537, which is larger
percentage of free imports than during any
prior fiscal year in the history of the govern
ment.
Tariff Not Oppressive.
If we turn to exports of merchandise the
statistics are full of qualification The value
of such exports of merchandise for the twelve
months ending Sept. go 1891, was 1923, 3,091, ,l38,
while for the corresponding previous twelve
months it was $3.50 IN, ll5. an increase of S62,-
9l4,C2l, which is nearly three times the aver
disc for the preceding twenty years; this ex-
ceeds in amount and value the exports of mer-
chandise during any year In the history of the
government The increase in the value of ex-
ports Of agricultural products during the year
referred to over the corresponding twelve
months of the prior year was Sl5,3i6 l27, while
the increase in the value of exports was Sl6-
S36,A0 There is certainly nothing in the con-
dition of trade, foreign or domestic, there is
certainly nothing in the condition of our peo-
pie of any class, to suggest that the existing
tariff and revenue legislation bears oppres-
slvely upon the people or retards the CONNER
cial development of the nation.
General Prosperity and Contentment.
Ii may be argued that our condition would
be better if our tariff legislation were upon o
free trade basis; but it canuot be denied that
all the conditions of prosperity and of general
contentment are present in a larger degree
than ever before in our history, and that, too,
just when it was prophesied they would be in
the worst state. Agitation for radical changes
in tariff aud financial legislation cannot help,
but may seriously impede business, to the
prosperity of which some degree of stability in
legislation is es ential. | think there are con-
elusive evidences that the new tariff has cre-
ated several great industries which will,
within few years, give employment to ssv-
eral hundred thousand American workingmen
and women. In view of the somewhat over
crowded condition of the labor market of the
United States, every patriotic citizen should
rejoice at such u result.
Last Years Revenues and Expenses.
The report of the secretary of the treas
ury shows that the total receipts of the
government, from all sources, for the fis-
cal year ending June 80, 1891. were S453-
54, ,333.03, while the expenditures for the
same period were 1921 ,304, 40 46, leaving a
surplus of s37 ,239, 1921. The receipts of
the fiscal year ending June 30, 1892, actual
and estimated, are S433, 600 900, and the ex-
penditures s409, 100000 Forthe fiscal year
ending June 80, 1893, the estimated re-
ceipts are S455 1886, $50, and the expendi>
lures SAL, 30O,093
Silver Bullion.
With regard to the prophecies of the anti
silver men, that the coinage of s., 900 900
per month would create disaster. they were
not wide of the mark. The president says
that he is still of the opinion that the free
coinage of silver, under existing condi-
tions would disastrously affect our bust
ness interests at home and abroad, and
that we could not hope to maintain an
equality in the purchasing power of the
gold and silver dollar in our markets. and
in foreign trade the stamp gives no added
value to the bullion contained in coins.
The producers of the country, it's farmers
and laborers, have the highest interest
that every dollar, paper or coin, is
sued by the government, shall be as good
as any other. If there is one less valuable
than another, its sure and constant errand
will be to pay them for their toll and for
their crops.
Our Silver --o"'t.- Exports Reduced.
After comparing our silver standard
with England's, and referring to the re-
duction of the export of domestic silver
during the past year, the president says:
The producers of silver are entitled to your
consideration. but they should not forget that
the government is now buying and putting out
of the market what is the equivalent of the
entire product of our silver mines This is
more than they themselves thought of asking
two years ago believe it is the earnest de-
sire of a great majority os the people, as it is
mine, that full coin use shall he made of sill
yer just as soon as the cooperation of other
nations can be secured and II ratio fixed that
will give circulation equallyt to gold and silver.
The business of the world requires the use of
both metals; but | do not see any prospect of
gain, but much of loss, by giving up the pres
ent system, in which full use is made of gold
and II large use of silver, for one in which sill
yer alone will circulate. Such an event would
be at once fatal to the further progress of the
silver movement.
Europe Wants Silver.
The true friends of silver will be careful not
to overrun the goal and bring its silver none
tizatOn, with the necessary attendant loss of
our gold to Europe, and the relief of the pres
sure there for larger currency. l have en-
deavored, by The use of official and unofficial
agencies, to keep a close observation of the
state of public sentiment in Europe upon this
question and have not found it to be such as
to Justify me in preparing an international con-
ference. There is however, | am sure q
growing sentiment in Europe in favor of a
larger use of silver, and | know of no more
efiectual way of promoting this sentiment
than by accommodating gold here. A scarcity
of gold in the European reserves will be the
most persuasive argument for the use of silver.
The president alludes to the retirement
of Secretary Proctor from the cabinet, and
says that his report exhibited the results
of an intelligent, progressive, and business
like administration of department which
has been too much regarded as one of mere
routine. The separation of Secretary Proc
tor from the department by reason of his
appointment as senator from the state
of Vermont was source of great regret
to him and to his colleagues in the cabi-
net. and he was sure it was to all those