Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1894-12-11
SEW sERIEs, YoI. x.x.Iz, NO. 80.

tary reservations and railroad aud other Sc
1ections of land unadjudicated. Though
the condition of the Indians shows steady
progress, their situation is not satisfactory
at all points. Some of them to whom alIot-
ments of land have been made are found tc
be unable or disinclined TO follow agricuI,
tuFai pursuits or to otherwise beneficialIy
manage their land.
AT the close of the last fiscal year there
were 969.544 persons on the pension rolls
being net increase of |, ,5S2 over the mum.
Der reported at the end of the previous year.
OF these pensioners 2.O49 arc surviving
soldiers of Indian aud other wars prior tC
the late civil war and the widows or rsls,
tiyes of such soldiers. The remainder
numbering 9S7, 800, are receiving pensions
on account of the civil war, and of these
469, ,S44 are OF. the rolls under the authority
of the act of June q. 1880. sometimes called
the dependent pension law. The total
amounts expended for pensions during the
year was S1S9 9,s04, ,46l .05, and the sum me-
cessary to meet pension expenditures for the
year ending June 80, 1896, is estimated at
$40, 100000.
The Secretary of Agriculture shows that
the exports of agricultural products from
the United States for the fiscal year ended
June so, 1894, amounted to $625, ,s6s, ,OSs,
being 1928 per cent. of American exports
of every description, and the United King
dom of Great Britain took more than "a per
cent of all farm products finding foreign
markets,
The advantages to the public service of
an adherence to the principles of ctyil.ser-
vice reform are constantly more apparent !.
and a vast majority of the voters of the land
are ready to insist that the time and atten.
ton of those they select to perform for them
important public duties should not be dis
tracted by doling out minor offices. Nu.
merous additional offices and places have
lately been brought within ciyil-serYice
rules.
The new tariff act needs important amend-
ments SO as to be executed effectively and
with certainty. In addition to such neces.
sary amendments as will not change rates
of duty, the President still very decidedly
fayors putting coal and iron upon the free
list. As regards the sugar schedule, he
would be glad, "under existing aggraya-
tons" to see every particle of diferential
duty in favor of refined sugar stricken out
of the tariff law.
Legislation is recommended calculated to
promote the deyelopement of our merchant
marine. To this end the new tariff should
be supplemented by an act allowing vessels
built abroad and owned by Americans to be
registered here.
Muchspa is given to discussion of the
decrease of the gold reserve and necessity
of boud issue to repair the fund designed
to keep all forms of money at par witL gold.
Its declared roundly that the issue of bonds
will be continued Whenever and as often"
as it is necessary to maintain sufficient
gold reserve. The currency question is de-
clared to need the prompt attention of Con.
gress, and a plan for the creation of more
elastic currency is presented and approved.
The plan embraces scheme modifying
present banking laws and providing for the
issue of circulating notes by State banks
free from taxation under certain Limitations.
1t is proposed torepeal all laws providing
for the deposit of United States bonds as se-
curity for circulation; to permit national
banks to issue circulating notes not exceed
ing in amount 75 per cent. of their paid-up
and unimpaired capital provided they de-
posit with the government as a guarantee
fund in United States legal.tender notes.
including treasury notes of 1890, sum
equal in amount to 80 per cent. of the notes
they desire to issue.
In addition to the guarantee fund reouir.
ed it is proposed TO provide safety fund
for the immediate redemption of the circu-
lating notes of failed banks, by imposing
small annual tax, say one.half of i per cent.
upon the average circulation of each bank
until the fund amounts to five per cent. of
the total circulation outstanding. Asa fur
ther security it is contemplated that the ex-
isting provision fixing theindiyidual liabil-
lty of stockholders is to beretained and the
banks Indebtedness on account ofits cfrcu-
latiug notes is to bs made first lien on all
its assets.
A very important feature of this plan Is
the exemption of State banks from taxation
by the United States in cases where it is
shown to the satisfaction of the Secretary of
the Treasury and comptroller of the curren.
cy by banks claiming such exemption that
they have not had outstanding their circu.
Iating notes exceeding 75 per cent. of their
paid, up and>unimpaired capital; that sheir
stockholders are Individually liable for the
of their circulating notes TO the
full extent of their ownership of stock; that
the liability of said banks upon their circu-
lating notes constitutes, under their State
law, first lien upon their assets; that such
banks have kept aud maintained guaran-
tee fund in United States legal.tender notes.
treasury note of 1890, equal to 30
per cent of their outstanding circulating
notes, and that such banks have promptly
their circulation notes when pre-
sented at their principal or branch Offices.
The Baltimore Morning Herald of No
vember 2sth told of plot to boycott Bern
heimer Brothers. the great bargain mer-
chants to the masses,' at 81 and 313 West
Iexiu9ton street TEey say seventy dealers 1