Semi=weekly graphic., 1896-12-09
t''.extend its sphere Of useful raey Of it's fofeeasts.
csxls servlce.

r'aexteqa s''.',' C I!. Is sphere of useful
 raey oi it's fofeeasts
 f cisn serylce { The progress Eadeist civil seFt
 i,sfss. t cf etss iess e Utmost cof1s - - ss & sss E 2 ' s- -i-,tffJfs rff
 lrlguds as well 6he faneof of ii s.,.,.ys,;ss
 and has gained perff,..s59t flsee lalass.
 ,Lle aseneies destined e. eiease as,r S,,, r,lss
 tttitS and itnHfnge esa5i5sti,,fze and siass =.
 tf public seryice ,rhere are noCv rs sh'. 1se
 S9inPet9iiye classified service upward et
 l,s929 pi@seS Mere ll5tH aif these have
 of Sg,n fu. li.'i'ided fru1A tme le time sinco
 March ], lsgs.
 Interstate eoa,.assioa.
 ! li3h,e he annual report of tle sommissioners i ,f gi.i ne diiy ttafsniitiel. and commend sne lmporhtnt matter they have in clarge lN sN% Ane isaetHl consideration tf conuress
 nc lfftelSiate CpfInfpft tt. roftnlissian h.s aAftng the last year supplied abundant t.','l '''l's Yi is usefulness aud the n4por- s'i'Np Vl tlte work committed t0 its el..irue.
 HtSre To refer 10 tue St.tefns.t,tas tls..s where thadn eaneefniHg the RovprnnenIss iSeeApts and expenditures for the ul,ruuse 7i NSntttfiug upon soiHt stteerstiot,s ts,i,sf,s tng our plesest tanH law and it's opeia-
 raria Heform.
 Iis stainte book effect on the 2sth day
 s'fs"','t iHAA " A.lteNcr may be if1 sshoGe.coniinBs as complete moisture ct t'iiiii reform It must be euicetled that it Has opened the way to q ffetr and urt;.,,.r eAchange oi commodities between us and other colintries, aud thus furnished u nisier market for our products and m,tnuf,tp- turers
 The only entire Ascil year during which this law has been iI1 fur6. t.ndad .... .sy er iune, lSi. ln that year our ini- ports increased over those of the nrevifna year mefe than Sb, ,sOU,0gtQ while the value ct thc domestic products sse exported and which tottud markets abroad, was neuiiv S4oVoe1O mofe than during the preceding
 The situation was such in December last. seven months before the close of the fiscal year, that the secretary of treasury foTett Id adellciency of Sl7f.O00, 0OD The great and Increasing apprehension and tiinidity in business circles and the depression in all actlVliies intervening since that time, re- snlting from causes perfectly well under stood ant entirely disconnected with our tarIff law or it's operation, seriously eheckrd the imports NC would have of htr- v i f;''7;s ittiti rrafiiy account for fhe difference between this estimate of the s.s,.- rotary and the actual deficiency ;is well ls for q cautioned deficit
 To meet any such deficit we have III tho treasury. in addition Co ;G gold reserve of Sl0oV0O,000, surplus of moro than $Ias.- UoVOQV applicable to fife payment of Jna expenses of Inc government and which IntSt, unless expended for that purpose, ren'tin useless hoard, or, if not extfs.ya- Santiy wasted, must in any eyepff, , from ,g,'fa ,, a l,9l 'ls m plirPaymf Paymsnt therefore, of my .1sTeIeuey in ttc revenue from ti.is rund h rathiag more than its proper aud cgitinate use.
 Monetary Question.
 This reference to tho condition and pros- )ects of our revenues naturally, suggests lu allason to the weakness and vices of lur financial methods They have been iequently pressed npon thu attention or lhe congress in previous executive eoninu- lications and the inevitable danger of tlltir continued toeratiOn pointed out. Wlthou5 now repeating these details, l cannot re rain from again earnestly presenting the necessity of tlie prompt reform of system opposed te every rule of sound finance and shown by experience to be fraught with the graycst peril and perplexity.
 Ihe terrible civil war which shook the of our government more than thirty years ngo brought In it's train tho Of property. There remains with IS to day, in full strength and activ- ty as an incident of that tremendous struggle Il feature of it's financial necesei- ties net only ansuited to our present elr- but manifestly disturbing menace to business security and an ever present agent ot monetary distress.
 Because we may be enjoying tempor- ary relief from its depressing influence tiiis should not luil us into false security nor lead tIs t0 forget the suddennes5 or past 
 am moro convinced than ever that we can have no assured financial peace ana safety until the government currency obH- galions upon which gold may be demanded from the treasury, are withdrawn from and cancelled.
 This might be done. Us has been hereto fore reeahfnended, by their exchange for long term bonds bearing [ tow rate or iil- ferest or hy their redemption with the pro- ceeds os such bonds.
 IL would be a step in the right direction if currency obligations, redeemable i'll goM whenever so redeemed, should be cancelled instead of reissued This operation would be a slow remedy, but it would improve present conditions
 National baiiks shonld redeem their own notes 'l'hey should be allowed to issua circulation to fhe par value of bonds dc- posted as security for its redemption and the tax on their circulation should be re- dueed to oncfourth Of one per cent.
 In considering projects for the treatmeno of United States notes and treasury notea iasued nnder the new law of le9O, am OF the opinion we have placed too much stres3 upon the danger Of contracting tHe cur rcncy and have calculated too little upon the gold that would be aaded to our circu- lati0n f invited to lls hy better and safe financial methods t is not so much con traction of oar currency that should bo avoided ns iis unequal distribution. Inis might be 0byated und fear or harmful con- traction at tho same time removed by al- lowing fht organization Of small ban ks md in less popuialis communities than are now permitted and also authorizing exlst. ing banks to establish branches ill small communities under proper restrictions.
 The entire ease mag be presented by Che statement that the day of sensible and sound lnaueiul methods will not dawn upon lis untd Cnr government abandons the banking business and the aecumula- ton of funds, and confines it's monetary operations io the receipt of the money con tfibated ny fle people for it's support, ana to the expenditure ei such money Tor the peoples Benefit.
 Trusts
 Another topic in which our people right fully take q deep interest may bs here briefly consiherea l refer to the exlatsTaee of trusts and other huge aggregations of capital, the object of which IS to secure the monopoly of some particular branch of trade industry CT commerce., and to stine wholesome competition.
 Their tendency is to crush out lndivldual independence and to hinder and to prevent the free use of human faculties and the full development of human character, Through them the farmer, the artisan and the small trader is iii danger of disiod2e- shefit from tiie rrouti position of being flis own master Fhoufsf congress has ist- tempted to deal with this matter by lesis- iafion inc laws passed have thus far