Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1891-12-10

Inree mes the average annual increase c.
expor-s o. IN rchand sc during any We T D..
the history Of the government The ncr-ase
in tie value OF exp rs OF agrlcul- Ut
products during IN year refer 20 tv
the CORE pJnding twelve months of the
PRIOR year, vas SIS, s46, 81, while the increas
In the vtus of eNnOtts of manufa -tured
products was 10, rs "a.
There is certainly nothing in the condition
of trade. forei IN or domestic, there IS GER
tainly nothing in the condition of our people
OF any class, TO suggest that the existing
tariff and revenue legislation bears Cypress
lively upon the people or retards the com
mercial development of the nation 1t may
be argued that our condition would be bet
ter if our riff lie sislation were upon a free
trade basis; but it cannot be denied that all
the COM itiOns of prosperity and of general
contentment are present in larger degree
than ever before IN our history, and that,
too, just when it was prophesied they " uld
be in the worst state Agitation radical
changes in tariff financial legislation
cannot he p but may ser ously impede bust
ness, to the p osperity of which some degree
of stability in legis att N is essential
think there are conclusive evi len es that
the new tariff CT ated several great indus
tries which WILL within a few years, give en-
plOyment to several humid, d thousand
AmerIc an working men and women In view
of the somewhat overcrOwded condition OF
patriotic citizen should rejoice at such
result
The report of the secretary of the treasury
sho 5 that the total receipts of the govern
ment, from all urces, for the fiscal year
ended June 81, 1891, were 4 s,5i4 AS3.O3 while
the eXprnd lures Tor the same period were
SAL aOi,450.46 leaving surplus of 81, 259 762.
81.
The receipts of the fiscal year ending June
81, 1892, actual an estima ed are S,3{,OJO,OOJ
and the expenditures SIO9,pO), 900. For the
fiscal year ending June 80, ls9', the estimated
receipts are S45 So $50 and the expenditures
SAL 5JO,J93.
sILvE 2 AND IT'S CONNECTIONS.
Under the law of July, A. 1871, the secre-
tary of the treasury has purcha eI since
August - during tle fiscal year IS 1893
ounces of silver bullion at an avera se cost
OF 81 as per ounce The highest price paid
durins the year was 81 2O3i and the lowest
'O.9556 In exchange for this silver bullion
tn re have been issue of the treasury
notes authOriz d by the act. The lowest
price of silver T, ached during the fiscal year
was IS on April q, 1891; but on Novem-
Der TIL market price was only ~. 49, which
would give to the silver dollar bullion
value of IA cents
Be ore the influence OF the prospective
81 yer legislation felt in the market
silver was WOTtl in New York about so $50
per ounce. The able advocates of free
coinage in the last congress were mo con
fjent in their pr diction that puroha~es by
TIE governm mt required 10y the law wou'
at once bring the p ice of silver TO / 929 per
on ce, wnich would maze thu bullbOn value
of a dollar one hundred cents and hold it
there. The prophecies of the anti silver
men of 5 IsterS to re ,utt from the coinage
of 200 700 per month were not W der of the
mark The friends of free silver are not
agreed, think, as to the causes that brought
their no eful predictions to nIught Some
facts are known The exports of silver
from London to India during tn first nine
months ofthe cal ndar year, fell off over iifty
per c, mt or l7,2lt,73J, comp Ired with the
same months OF the pr cading year. The
exports OF domestic silver built II from this
coun ~. which has av gei for the last
ten years over SlI0)',G0O fell in the last
fiscal We Il to 81 ,757 33l viii e, for the first
Il &c in recent years, the imports of ST yer
into this country Exceeded the exp prts by
;he sum of S2,7l5 $50. In the prev Gus year
the net exports OF silver from the United
states amounted to 1854 455. The produc-
tion o. the United stat : increased frpm 81
rOl,0 ounces in 49, to 5l,5OO 0 in $50. The
government is now buying and putin
as l.. an ualy 81 90 900 OUNCES, which, al
lowing 10000 @. noes o new bullion use
in The arts is "a o 20 more tn IN our domes-
tic product av liable for coin ige.
am still OF the piliOn that the free coin
ag- OF silv under Xisting conditions
W I'D dislstrously aft Get our b lsiness inter-
ests At home. aud abroad We could not
hope to IN iintIin an equality in the pur-
Oh ,sing pow-r of the gold and silver dollar
in our own N trket-. an in foreign trade the
stamp gives added value to the bullion
contain. d IN coins. The producers of the
couutrv, 5 farm rs anu abOrerS, nave tn
h CHEST Interest that ev, ~ paper doll II or
coin issued by he Cover msnt shall be as
good as any other. If shere is one less val
u Bile tn N another its sure and con slant err
rand will be to pay them for heir toll and
for tn .ir crops. The money lender will pro-
tee, himself by stipulatins for pawn mt in
gold, bu. the IabOrer has never D-en able to
do that. To place basiue S upon a silver
bass would mean a sudden and severe con
traction the currency, by the with rawal
of gold and gold notes an such an unset
ting of all values a wOull produce a com
IN rciaI panic. I C mot believe that peo-
pie strong and p OsDerous as ours will
promote such policy.
THE So PLUS, ETC
Thepres nee of Il large cash surplus in the
treasury has for many yea ) been the sub
je t of much unfavor tble criticism and has
furnished an arsu nent to those who have
desired to place the tariff upon a purely
venue basis. It was agr e b all that the
withdrawal from circu a-iOn of 50 large an
amoun of money W s an embarrassment to
vention of the department at frequent inter
walls to relieve threatened mOneta p mics
The surplus on March l. IS Q was SI5{,s27,-
1922 The policy of apply ,ng this surplus
to the redemption of the interest bearing
securities OF the Tn ted 5 atcs was thought
to be preferable to that of depO,itng it
without mt, rsst in selected n ,tional banks.
Tn re have been re eemed since the date
last mention d OF inter st bearing securi
ties 2 9,n-93j0, resulting in a reduction Of
the annu i interest ch irge o. $Il,6S5 675 The
money wnicn had beed deposited in Dan<-
without interest has been gradually with
drawn and used in the redemption of bonds
The rrsut of this policy, of tn silver
legisl ton, and of the T, funding of the 4I2
per mt bonds h IS b en- a large Increase of
the money in circulation At the date last
named the circulation was IA 800. s96 or
81 .O3 Pc capita while on the first day of
December, 1891, it had increased to l,577, Pa
90 or 2l.3s pr capt. The of of the
secretary of the treasury to the holders of
the y per cent bonls TO extern the time of
redemp ion at the option IF the government
at an interest of per cent, was accepted
by the holders of about one half The amount
and the unextended bonds are being re-
deemed on presentation
THE ELECTORAL SYSTEM.
In Closing His Message the President Has