Sturgis advertiser. (Sturgis, Dakota [S.D.]) 1887-1???, 1891-01-01

4
greet. The rapid rise in price which arl-
ticipated and followed the passage OF the
act was influenced In some degree by specn9
lafion, and the recent reaction ls In part
the result of the same cause and in
part OF the recent monetary disturbances.
Some months OF further trial will be- neces-
sary to determine the permanent effect of
the recent legislation upon silver values,
but 1t is gratifying to know that the in
creased circulation secured by the act has
exerted and will continue to exert most
beneficial influence upon business and upon
general values. While it has not been
thought best to renew formally the sugges-
ton of an international conference looking
to an agreement touching the full use OF
silver for coinage at a uniform ratio, care
has been taken to observe closely any
change i'm the situation abroad, and no
| favorable opportunity viii be lost to promote
a result which it is confidently
| believed would confer very large
benefits upon the commerce of the world
The recent monetary disturbances i'm Eng
land are not unlikely to suggest a re-eXam-
ination of opinions upon this subject. Our
very large supply of gold will, if not lost by
impulsive legislation in tho supposed inter-
est OF silver, give us u position of advantage
in promoting d permanent and safe inter-
national agreement for the free use Of sill
yer as coin metal. The efforts Of the seq
rotary to increase the volume OF money in
circulation by keeping down the treasury
surplus to the lowest practicable limit have
been unremitting and in very high degree
successful. The tables presented by him,
showing the increase OF money in circula-
ton during the last two decades, and espe-
cially the table showing the increase during
the nineteen. months he has administered
the affairs of the department, are Interest
ing and instructive, The increase OF money
in circulation during the nineteen months
has been in the aggregate S93, $685. or
about l,5o per capita, and of
this increase only Si.l00,000 was
duo to the recent silver legislation.
That this substantial and needed aid given
| TO commerce resulted In an enormous se-
| duction OF the public debt and Of the an
nual interest charge is a matter of increased
satisfaction. There have been purchased
and redeemed since March 4, $780, and "a
per cent. bonds to the amount of S211 ,s32,-
450 at cost of $246, $40, TAI, resulting in the
reduction OF the annual interest charge OF
| $780,, 500, and a total saving of interest OF
S51, 576,706. / notice with great pleasure
| the statement Of the secretary that the re-
| ceipts from internal revenue have in
creased during the last fiscal year nearly
| Sl2, 000, 900, and thai the cost OF collecting
| this larger revenue was less by 800, 617 than
| for the same purpose in the preceding year.
The percentage OF cost OF collecting the
customs revenue was less for the last fiscal
| year than ever before. The customs ad-
| ministration board provided for by the
! act Of June 10, 1890, was selected with
great care and Is composed In part OF
men whose previous experience in the ad-
| ministration of the old customs regulations
! had made them familiar with the evils to
| be remedied, and in part OF men whose
| legal and judicial requirements and expert
ence seemed to 1T them for the work Of in
| terpreting and applying the new statutes
| The chief aim of the law is to secure honest
! valuations of all dutiabe merchandise and
| to make these valuations uniform at all
| our ports of entry. Ithad been maze man.
| ifest by q congressional investigation that
| n system Of differentiation had long been
! in use by certain classes Of importers, re-
sulting not only in a great loss Of reXenne>
| but In most intolerable discrimination
| against honesty. 1t Is not seen how this
| legislation, when 1t Is understood, can be
! regarded by the citizens Of any country
| having commercial Relate with us as nn-
| friendly. If any duty Is supposed to be en-
| cessive, let the complaint be lodged there.
] Il will surely not be claimed by any we'll
disposed people that q remedy may be
| sought and allowed in n system Of quasi
! smuggling.