Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1894-12-03

sugar stricken cut Of our tarin law.
II with all the favor now accorded the
tugar refining Interest in our tariff
laws It still langulshea to the eEtott Of
olosing refiuerlts and oaubing thou
sands Of discharged workmen, IL would
seom to present a hopeless case
for reasonable legislative aid. What
ever else 10 done or omitted, /
earnestly repeat here the recommends.
ton / have maIo ia another portion OF
this commu 1 alton, that tie additional
duty Of ono.tsnth Of cent puf pound
laid upon sugar Imported from coun-
tries paying bounty on IT, export be
abfogaltd. IL seems 10 me that ex'
ceodingly important combinations
point to the pTepre,y Of this amend.
munt, with the Cxent OF n new tarin
policy not only calculated 10 relieve
consumers Of cur land In tho cost Of
their daily life but 10 invite bsttet
development Of Amsrican thrift and
create for us.clostr sand more profitable
commercial relations with the rest
Of tho world. II follows ~ a logical aud
imperative necessity that We should
az once remove the chief n NOS the
only obstacle which has 90 long pre-
vented our participation ia the foreign
carrying trade Of tho sea. A tarlti
built upon the theory that Il is we'll to
check impOrtB anu tnst home market
should bound the Industry aud effort VI
American producers, was ntly supple
mouted by refusal 10 allow American
registry 10 vessels buiit abroad though
owned and nAvigated by our people,
thus exhibiting q willingness 10 aban-
don all contest for the advantages VI
American transoopanic carriage. Our
new tariff policy, built upon the
theory that II 10 well 10 en-
courage such lmpOftallona m
our people need, and that our pfoducls
and manufactures should nnd maIhols
In every part Of tic hnbilaBle globe, Il
oonsistently supplemented by tho
greatest possible liberty 10 our cillzeuh
IN the ownership and nayiKAtiUns Of
Lnips IA which our products aud manu-.
iantutts may be transported. Tue
millions now paid to foreigners for
carrying American passengers ami pro-
ducts across the sea should be turned
Into American hands. Ship building,
which has been protected 10 atrangula-
lion, should be- revived b. the prospect
oipfofilable complement for ships when
built, aud the American sailor should
be resuaoitAtod and again take his place
IA sturdy and industrious oitiZsn In
time Of pUncB aud patriotic anu safe
defender Of American iuterests in the
day oi conflict. The ancient provision
VI our law denying American registry
10 chips built abroad and owned by
Americans appears in tho light Of
present conditions not only 10 no n
failure for good nj every point, but ~
10 nearer relic Of bafbafism than
anything that exists under the permits.
sion OF a statute " the United States.
/ earnestly recommend ita prompt re-
PEAL.
GOLD DECREASE AND BONDS.
During the last month the gold TO.
served IN the treasury for the purpose
u Tedeeming tho notes Of the govern.
msnt circulating aa money IN the
hands Of the people became ~ reduced,
aud its further depletion In the near
future seemed 20 certain, that ia the
exercise OF proper care for tho public
welfare II became necessary 10 rsplcn-
ish the reserve aud thus maintain pop.
ulAr faith In the ability anu determine
lion OF the government to meet, aa
agreed, ilB pocuniary obligations. IL
would nave been well n In this emer.
gency the authority had existed TO
issue bonds OF the government bear
ing low rate Of Interest and
maturing within short period.
But the Congress having failed to CON
for such authority, resort was OF nocey-
klty had to the resumption act Of 1876,
aud pursuant 10 Ito provisions, bonds
were iHusd drawing interest ut the
rate Of per cent per annum aud ma
turing ten ytars after their Issue, that
being the shortest time authorized By
thu act. / am glad ~ say, however,
that upon the sale Of these bonds the
premium received operated 10 reduce
the rate OF interest 10 be paid by the
government 10 less than per cent.
Nothing could bo worse or further 70.
moved from sensible finance than the
relations existing between the cur.
renoy tho government has Issued, Gu 10
ROlll~ nald for It's Tedo mu-
lion, and tue means which
must DO resofled 10 for the purpose VI
roplenlphing such redemption fund
when impaired. Even n the claims
upon this fund were confined 10 the
obligations originally Intended, anu n
the redemption OF these obligations
meant their cancellation, the fund
would be very small. But theSo obligR-
. tons when received ana redeemed In
gold are not cancelled, but are reis,uBd
ana may do duty many times by way
OF drawing gold from this treasury.
Thus we have an endless chain In
operation constantly depicting the
tTeRSury's gold nnd never near final
rest. As II this was not bad enough,
we hRvr,by aHtatutoty declaration that
II Is the policy OF the government
10 maintAln the parity between gold
and silver, aided this force and mo.
mentum OF this eIhausting process
and added largely ~ tho currency Oh.
legations claiming this peculiar gold
redemption. Our small gold reserve il
thus subject to drain from every side.
The demands that increase our danger
nltO increase ths necossity Of protoO T.
lug this reserve against depletion, aud
IL IL most unsatlsiAotOfy to know that
the protection afforded 10 oHly n tenn
pofary palligtlOn. IL 10 perfectly And
pslpably plain that the only way UNI
der present conditions by which this
reserve when dangerously depleted
can DO roplsniahed IL through tho
issue and sale Of the bOnds OF tho
government Tor gold; and yet Congress
has noi only thus far declined 10
authorize the itHuo OF bonds bOst suited
to such u purpose, but there seems "A
disposition Ia some quRrlera TO deny
both the ueCpfRity and mower for the