Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1891-12-10

ably affect IL. that the increased volume OF
currency thus supplied for the use Of the
people Was needed. and that beneficial |
results upon trade and prices have fol-
lowed this legislation, / think must be
very clear to every one. Nor should it be
forgotten that for every dollar OF these
notes issued full dollars worth Of silver
bullion is at the time deposited in the
treasury as security for its redemption.
Upon this subject as upon the tariff,
my recommendation is that the exist
ing laws be given u full trial,
and that our business interest
be spared the distressing influence which
threats Of radical changes always impart.
Under existing legislation II is i'll the
power Of the treasury department to MAIN
tain that essential condition Of national
finance, as well of commercial prosperity.
The assurance that these powers would be
freely and tnhesitatingly used has done
much to produce and sustain the present
favorable business conditions. ! am still
Of the opinion that the free. coinage Of
silver, under existing conditions, would
disastrously effect our business interests
Of home and abroad. We could not
hope to maintain an equality in the
purchasing power of the gold and
silver dollar in our own markets, and in
foreign trade the stamp gives 10 added
value TO the bullion contained in coins.
The producers Of the country-its farmers
and laborers-haYe the highest interest
that every dollar, paper or coin, issued by
the government shall be as good rs any
other. II there Is one less valuable than
another its sure and constant errand will
be to pay them for their toll and for their
crops. The money lender will protect
himself by stpnllting for payment in
gold, but the laborer has never been able
20 do that. To place business upon silver
l.af
contraction OF the currency by tine with
drawal Of gold and gold notes and such an
unsetting Of all values as would produce
commercial panic. cannot believe
that a people so strong and prosperous as
ours will promote such policy. The pro
dncers Of silver are entitled to just con-
sideraton, but they should not forget that
the government is now buying and putting
out II the market what is the equivalent
Of the entire product Of our silver mines.
This Is moro than they theml elves thought
Of asking two years ago. | believe II is
the earnest desire of a great majority of
the people. as il IL mine, that full coin
use snail be made Of silver Just as soon as
the cooperation Of other nations can be
secured and ratio fixed that will give cir
culatiOn equally TO gold and silver The
business OF the world requires tho use Of
both metals, but do not see any prospect
Oi gain, but much Of loss, by giving up
the present system in which ful! use is
! made Of gold and a large use Of silver,
! for one in which silver alone will circulate.
/ Such an event would be at once fatal to the
| further progress OF the silver movement.
BiNErALLIsM THE DESIRED Esd.
Bmetalism is the desired end, and the
! true friends Of silver will be careful not to
| overriin the goal and bring in silver mono
| metallism with its necessary attendants the
loss Of our gold to Europe and the relief Of
| the pressure therefore and larger currency.
! have endcavored by the Use of official
and unofficial agencies TO keep u
close observation Of the state Of pub
lie sentiment Of Europe upon this
question, and have not found it
TO be such as 70 justify me
in proposing an international conference
There il, however, ! am sure, a growing
sentiment in Europe in favor Of larger
use Of silver. and | know Of no more
etfectual way Of promoting this sentiment
than by accumulating gold here. A
scarcity Of gold i'll the European reserves
will be the most persuasive argu-
ments fol. the use OF silver. The
exports Of gold to Europe, which
began in February last and continued
until the close Of July aggregated over
S10,OU0,UyD. The net loss OF gold during
the fiscal year was nearly S6S,0O,OD.
That no serious monetary disturbance re
suited was most gratifying, and gave TO
Europe fresh evidence of the strength and
stability of our financial institutions.
With the movement of crops the overflow
of gold was speedily stopped and a return
set in Up to December LIST, VIC had re-
covered Of our gold lost at the port of New
York 81, 50, 900, and it is confidently be-
lieved that during the winter and spring
this aggregate will be steadily and largely
Increased.
CHINESE ARE SWEARING IN.
The President calls attention to the
evasion and violation of the law pro-
hlbitlng the coming Of Chinese 10 the
United States. The law has been effective,
he says 10 such as seek to land from
vessels entering our ports, but con-
siderable number Of Chinese laborers have
entered the United States from Canada
and Mexico over the boundary lines.
The President recommends legislation to
remedy this evil
FREE DELIVERY or MAILS FoR TOWNS.
In discussing the report Of the Postmas-
ter-gencral the President says some very
gratifying results are exhibited and many
hetterincnts OF service suggested. The reve.
MUGS of the post-ollicc department show an
increase Of over hive million dollars with 4
deficiency for the year Of 1889 Of less
than four millions Of dollars, while the
estimate for the year 1893 shows q
surplus of receipts over expenditures
Regarding the extension Of the free
delivery syestem the President says IN
appropriation was given by the last Con
gress for the purpose Of making some
experiments in free delivery in smaller
cities and towns, the results of these
experiments have been SO satisfactory that
the Postmaster-general recommends, and
! concur in the recommendation, that tht
free delivery system be At once extended
% towns Of 5000 population, this discus
sion OF the inadequate facilities EXTENDED
under our present system to rural comint
iities, and his suggestions with a view h
give these communities a fuller participl
uouin the benefits Of the postal service
, are worthy of your careful consideration
IL is not Just that the farmer who receive!
, his mail Al Il ncighboring town. should no.
onlybc compelled to send to the post-uiiic,
for 1t, but to pay considerable rent for
box III which to place it, or to wait Iii.
turn at general delivery window, whit
a city resident has his mail brought t,
his door.
SHOULD HAVE MORE AGMoRED WAR SHIPS
The recommendation Of the Secretar,
of the Navy that the work Of adding higl
class arinored vessels to our navy Shout,
! be continued and that liberal appropria
tions for that purpose should be made i
commended by the President and called Il
: the attention Of Congress.
1 PENSIONS ron VETERANS.
In discussing the report Of the Socrctar,
i 81 the Interior, the President shows tina
the total number Of pensioners upon tn
! roll IN the 3Oth day Of June
! l-!il was 6,76l Cos; allowed durin,
: the fiscal year ending Mt tina
! time 45O,li3 cases of this number i0e, IS
were allowed under the law Of .lunc 9th
! lA'm. The commissioner expresses tn
=, opinion that lie will be able to CAREFUL,
adlndicate and allow $4,000 claims dur
ing the present fiscal wear the appropria
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