Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1891-12-12
raronuo ,oaIsln.iop honrs oppre,slvely upon u.

were upon free trade basis, but IL can not be-
denied thut all the conditions OF prosperity and
| o. general contentment are present IN larger
degree than ever before in our history and tnat,
TOO Just when ~ was prophesieu tney wouia Dc
| In the worst state
| I think there are conclusive evidences that
| the new tarin has created several great INDUS
| tries which will, within u few years, give EN-.
| poyment to several hundred thousand Ameri'
| cun worKingmen and women. In view OF the
| somewhat ovetcrowded condition OF The labor
market of the United States every patriotic
| citizen should rejoice Ut such result.
| RECEIPTS AND DISBURSEMENTS.
The report of the secretary OF the treasury
shows that the total receipts OF the govern
mcnt from ali SOU ces Tor tue fiscal year ending
June 80, 1881, were SiaS5ii,2J3, wnie tho ex-
peluitures for the same period were pi.l,3Ji,i'u,
leaving surplus OF S1i, ,S1J 3U2.bi. The receipts
OF ahe nsOa, year ending Jane rS S & ss' as'ui.
lures e4JJ,UJJ.O0O For the fiscal year ending
June ~, 1888, the estimated receipts are si1o,-
| $50, SO und the expenditures SAL, ,ooJOvj.
THE SILVER COINAGE QUESTION.
| Under the law of July II, 1890, the secretary Of
| the treasury mas purchased since August l5,
during the hscal year, is,Ss lis ounces OF silver
| bullion Ut an average cost OF si.o,o per ounce
| in exchange for this silver bullion nave been
issued e..v,o'7 Az. OF the treasury notes antnor.
| izeu py the act The price OF silver NOV. |
| was only 50 sa which would give TO the silver
| Ao.iar u bullion vuiue OF iia cents
Before the influence OF the protective silver
.egislaJion was .eit In the mar.let IL never was
| wVrlh in New York above " per ounce. The
ablest advocates OF free coinage IN the last con.
gress wore confident in tloir prediction that
the purchases by the government required by
the law would Ut ONE Drlng the price OF silver
to l.I1 per ounce, which would make the bullion
| vaiue OF II dollar lUv cents and nolu 1t there.
Tne propnecies OF the anti-Siiver men of
| disasters TO result from the coinage OF
ss,UOlvvO per month were not wider OF the
mark. Friends oI free sllver are not agreed, l
think rs to the cause that brought their nope lul
predictions to naus sht. Some lasts are known.
| The exports OF siver from London To India
| during tne first nine months ot this calendar
year iell oil over ~ per cent or Sl7 -Os 'oo COM
| pared with the same months OF the preceding
year. The exports Of domestic silver ouiiion
| from this country which mad averaged lor IN y
| iast ten years over Sl7,uvO,0JJ, fen III the las.
| nscal year to SIS S1pi,3yl; whiie for the hrst
time in recent years, the imports OIL silver into
| TINS country cxceeued the imports uy S.,I4S 3od
IN the previous year the net exports OF silver
from the United states amounted TO sS5io 41'.
The production OF the United states increased
IRON 5OuoI,UOt ounces IN 1893 to o4,oJvOlJ
IN 1870. Tne government Is now BUY.
ing and putting uside annually oi'o1t0Io
Ounces wnlcn, aiowinB for ',liO,UOO
ouuces Of new bullion used in the arts, is
6,1tJU more than our domestic prouncts avail,
price OF silver Is temporary anu tnat further
trial OF TINS legislulon will more iavoraoy
encct 1t. That the Increased volume OF cur
rcncy thus supplied for the use or the people
was needed and that beuehc.a results upon
trade anu prices have followed tnis Legislation
think must be very Gear to every one; mol
should IL be forgotten tnat Tor every dollar oi
these notes issued full dollars worm OF silver
bui,ion is at the time deposited in tne treasury
US security for its redemption. Upon TINS SUP
Iect as upon the tariu, my recommendation is
thut the cAlsIlns laws be given iuii trial and
tnat our business Interests be spared the DIS
tressing innuence wnIcn threats OF radical
| changes Always lmpart.
am stlii oI the opln on that the fee coinage
OF silver under existing conditions would disas
| trously afect our business interests ut home
ana abroad. We could no. hope to maintain an
equality 10 the purchasing power OF the god
and silver dollar III our marnets. and in Iorei sr
traue the st.mp gives no added value TO tbs
| DulLlOn contained IN CONS. Inc producers OIL
tue country, It's farmers anu laUorerS have the
highest interest tnat every dollar. paper oil
com, issued Dy the government shall be as good
rs any oLner. Ii there is one less valuable
tnan another its sure and constant errane
VIII ~, be TO pay pay !nem men sv ior 'ns,f mdsr tSi @
protect himselT by sttpulat.ng for payment II
gold but tne laporer has nsver been ape 10 de
tnat 10 place business upon silver basi:
would mean sudden and severe contraction
OF the currency, by the withdrawal OF gold ant
gold notes. and such an unSettiing of all values
as would prouucs commercial panic. l caI
not believe that people so strong and prosper
GUS US ours Will promote such u pohcy
The producers OF silver are entitled Il
| Just cons 5derutlon, but they should not forge
that the government is now buying anu putting
out on tue market what Is the equivalent OF thu
entire products OF our silver mines. This II
more than tney themselves thought OF asking
two years ago. L believe 1t Is the earnest de
sire of great major. .ty of the people, AS it i
mine, thaha full coin use snail Dc made OF sil
Yer Just as soon as the co operation OF tn
other nations can be secured and u ratio flXe'
tnat will give circulation equally to god an
| silver. The business of the world requires tn
pc OF gain. but much OF loss, by giving up III
present SYSTEM in which full use is made o
, one in whi silver alone will cir
cuiate. Such an event would be- q
; once fatal to the further progress of the siive
movement. BImetalism is the desired end, an
the true friends of silver will be careful not
J ov. rrun the good and bring in silver monome'
allism, with It's nece ssary attendants. the los
1 ls.tn t.l nnH tha r.lia a nf N
} pressure there for larger currency. endeav
ored TO keep Il close observation or the state q
public sentiment in Europs upon this question
as to justify me In propo5in
} an international conference. There is, however
\ am sure, a growing sentiment in Europ, L
J favor of larger use OF silver, and know OF n
: more eliectual way of promoting this sentimen
, than oy accumuinting gold here A scarcity Q
gold in the European reserves will be the mos
persuasive argument for the use OF silver.
THE TREASURY SURPLUS.
The presence OF large cash surplus In tn
trea ,ury has for many years been the subject @
an argument to those who have desired TO plac
, the tariff upon purely revenue basis. IL wa
agreed by all that the withdrawal from circuli
ton of 80 large an amount of money was an en-
, barassment 20 the business OF the country an
made necessary the intervention of tn
5 department at fr=quent intervals to re r.
surplus on March l. 1855, was sls8 s27
, loo - The policy OF applying this surplus I
| the redemption OF the interest bearing Secur
2 | ties of the United States was thought to
r preferable TO that of depositing II without il
/ | lerest in national banks. There have been RI
/ | deemed since the date last mentioned OF inte
) est. bearing securities .-DaO7a3,E resulting in
reduction OF the annu'l interest charge Of Sll
6St47o. The money which had been deposite
in banks without interest has been gradual
: Withdrawn and used in the redemption of bond
q The result OF this policy, Of the silver legisia
q tion, and OF the refundng OF the IA per'cen
4 bonds mas been large increase OF III; none
= | In circulation. AT the date last named the ci
| culation was s.. i0L 3D,69i, or S23 J3 per capita
!. | while on December |. 1891. 1t had increased ,
ST. 577, ,232J75, or S.i.3S per capita. The offer
the secretary of the treasury to holders OF th
n 4la per cent bonds to extend the time of re lem
= tion, at the option OF the government, ut an II
q terest OF per cent was accepted by IL
II holders OF about one half the amount and tn
r. unextended bonds are being redeemed on pr
n sentation
,. THE WAR DEPARTMENT..
i. Tho report OF the secretary of war exhibit
the results of an inte llgent, progressive an
,r businesslike administration OF department
y which has been too much regarded as one
mere routine Somo especially good work hi
q been accomplished. The Efforts OF the seer
: tary to reduce the percentage OF desertions
| uuin q !, Ihutrl hnV ha,