The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-12-11

,n His RrPert ne Estimate. ne coss
OF HunHtnE she Government fer
Is>so az sss@-ss- .ss--HiE In
crease over nSzsS-

WazASEgtoz. Dec. :. - Serret1rT
Gage Transmitted 10 ccrrrtsx tie ests.
mates G. apprcprlarious reo1lre1 Tor
the serrane 81 The fiscal year e-di-g
June g. ls2s- The total Aucuzr e1.2e5
for By TIE estimates "a sea- o.. SIS
which Is nbo1s S.. 1oo. 01o ~ excess ~
The appropriations tor isgs. s-eluci NJ
ce1elszeles Grc miscellaneous. nnc
about S4l.ooo.Qo0 uc-s than she ests-
mates Tor 1885 The rec1 piiulHfica Or
titles a as follows. csrts emitted.
Estimate. fer lisa.
legislative sx-1tlistr-ert 81 eizEtz- fr-
sc1tlve es-ASliskm szt. E1ll--l 81. sa1irlAl
= -At--s--z.-lis tal.t2l. t1rets- -rttrccurss
ty-h.2 ul1--ATg tx-Ee-tser1sr1 r.4 Eef-
t4i- zAF14 eEtA1-1sh-1sr. ~ R.s ErF LADS
Affairs f.s43.tl7s ye-Eicrs- as - .-8,- S1f-
&c sea. F-luiSt ia rrs-EI s.s~rtcg 81 "a ~.
rs.sctllAEtolS xzi.-s-.sar ssr=A1s-f AZ
a1El A2gEoEr-hri1-x. T1-.s-f.Gl GrA11
total scl5f- Hz
Taess Hno1ris s-rsnss ests-a.es fsr
rivers E--- BARRIERS. So -af. Az fcrrl1uE-
fi1-s E-1 ctEtr wcTks 81 Egft1ss E-I.-s 81
Ire cs-E-ls a. w1-r1 E1-s11T A1re ostz
The Curreney.
sscrerA-y Gage calls asttrIl1r 20 u-fnf -
ftrEs -tos menace % the r-tlc rres1.t or
cls-c-t1 ~ ire rc1t---s- Use q tat llrEs
volume c. te-arc l-4a-iI.lss. rsr1-essrrs.t
- 49, afert rtrEsr r4ta4 49, 800 --rs
- t1Drm1-s LegTt-Etl-- tE rE conner
r2lut q s-Eer as r1- EiAre1 wiIe E-lt
y greatly lrcrtase- ne 1rGrc-1- rgsTs1--
LIES 81 TIE e1Verar1frt tr lis 1trArd
lar...l.Fk. ard az -Ee l1eicEl coz sec e 1--s.s
q re fAcl shcl-1 - oe.1lg t1csd
ELLZerrE as .-1Gslrl. seas tive ~ AT
uLfaTorarls eFe1ts AID U1.c1f-. Hiit
a-LtE-g 1EA--st 14rEers as gt+ lrEtEr
reed .aT their fur rre.Ft-y frc-r r2st re-
y. = - ~.
lt1rs ttEt t1s Ecre--rrs-ts rrErcEs are
t1 - rrE-y S.Ace- q sfrcrsfr as rers
tr1ur--E tg-r11tic-s t11- rcw exist As
lc1E as ere EoFerrHr1t SAL cstrLts g.
any I'm pcr-Grt eNre-i II slrr-ytrE Ire c-r-
rt-cy q E1e colEtrg ~ trs t.Tect issues
81 Icits An1 ~ uAlriAir-1s. tErrlEa .ts
g-ar2-tetS q parity. - arse Kc.-rs.e g
SILVER Z1-Ey. - 4Q-E wi AL oar fra-s
A1t industries rsDAn SRI state 81 1e-
s.Ett Ar1 courage 81 oS1Ertss his f1roec
dtrez-e1rg g. tre Gle r4rt ttEets rc1re-
Tie S1rAntagss ef strSrs Frs-i-r1 ~
ere -ltlcr.Zl trt1sr-g. W4tr tts Acctrl Gar s.
lrg teEelts ~ A. cluutFeA. lrttrtsts
ara great -eirterccmsr- ~ ne r-blc
credit. car. ] believe IT stcEre1 ustre-t
am LEst.utrE leEls-alc- IL ua--Er
e1sy % 3 coziPreaessea y A. arc win
ne rec1nu.sn.atiers uaEe rus, hs
co1strle1 a. tentative STEPS a. e --rtctiuc
Eately lead 70 c1r-iii4Es ttecrt, ical.E
1ts.ratss rather thaS a. tt-rs u thEm-
selves n-z- MEASURES GO +tGr ere z rt Clr-
dlttc- q the irt aslrY ir rs rotation g tt-
mar1 CbllEEtiors ecllrss t1at ere u iuc
staus le takeE. ArE -Le waE tE q .lrEt re-
irf rcernent % the pfruartrt Ett1 re-
RED lc-iun " t1t ctttct. 1rAt-s form % Las
bli.tlss. The latter i. x I'D oT-nio-. ire
mcre desirable
Recomme n dations-
FIRST I recou.usns that proper lsrisa.
tier be enacted whicn VII establish. sep
arate ard apart from the cr1trarH opera 4
tons g. the treasAfg az tnt1 relate % rev
elue and enptlelt 1ress ctE4rtf1ert % Pc
css gr4set Ard kIeN1 - rs .SfIt and g.
dem p-lcl e.F.s.cr- 70 tbs Gaf.s-4I ttt
- 81 S-4.tt.s1n ~ geld st1ul1 ts set
Pc used only Tor redemption purposes. .
- all the silver collars reN Reid flT ~
ID ifer buililr ard dollars ccirt3 thtroftcrn Z
youEht under ire aet 81 lses Ettll9 tt
passe1 70 US saE-lr Ateo.ti -ftaer ttAt .
the sum q s-Nttpt ir The ltsal te-ter
notes q the LE.ffl states knUNE az reer- .
hacks ne cc-.ecte1 a. hereinafter describes Il
aE4 cepos - " tns sac tssse arc re
fr1r only upon The recelpt ID exchange .
therefor u An equivalent amount cf SGD 4
he'd II sad division as part y The senetal I
redemption fund
sold 4 recommend that provision hs \
made for ne issue q reflGlirE loan bonds. 4
payatlf after ten years o. TIE pleasure "
% the guFerlme1t, s-rh BONDS tQ bear ir-
terssl az trr r4te o. "a Per ttlt. Fer ar .
Nun. raya1.e. principal and Interest in .
60 con- an1 that the secretary 81 the .
fre44.srV hs authorized t1 issue such t1EEs .
Ara receive iu payment therefor. Win ar
ee1ltabls allowances for the uirerence IL T
Interest. and part cr all % the outstanding 4
by their terms % payment ln the years .
lsf. 1851 ard is-a
would Strengthen Our credit
The advantage involved % the proposed .
action les ia THIS. ~ .tnigfes e. an
ambiguity which affects unfaForably the 4
government credit Ihe Wort -eoln. noW
debt il an ambiguous word. lt Us ne doubt 4
BY the more ciscrluiira .ltz Il
public creditor @ mean sold cQint and the 4
terance % silver coin upon q parity wiki 4
gold coin makes 4 impossible 90 ccrstrue 4
mean anything other thAn gold OF rs fuIi
equivalent. Yet as this - 4 conclusion u 4
logic rather than a clear statement 81 face a
the simpler or more humble Investors ~ 4
WOuid-bs investors in the public deb; are 4
confused and tolnttlls arc t1e pl..le grel-
ID Ia the weaker therefor y rkfunl our 4
bonds noN payable ln coin into 4
bonds payable iu geld would strerEthen \
posirion 10 command the markets u 4
World for our securities On the most
kVantaGe0uS terms
Bnnk Note Circulation.
To accomplish tie objects herein suc-
gested without contracting TIE cireulauon
some other form ~ PAPER money m4st % 4
erwise bc occaaIoned The national bank
note nov familiar 20 our people j. the
rcaeiest and most practical agent 10 ac-
complish that object, and under reason
able conditions 10 viii ~ toltl rts pcnsiFe 4
10 TIE cal The complaint uttered aealnst II
the national bank act as y ng~ STANDS -
not directed toward the method % bank
orEaniEati0n or the absolute safety guar
anteed 10 the notehulder. IL il directed
toward those restrictions u tfuuoties, +
which result in It's failure % accomplish
the fuu benefit ID ought 20 carry The re-
auirennert 81 the las now makes 70 impos-
slble 10 orEanize a bank with capital ~
less han i.QpCl. no matter how small the
place III which ID is 10 BE- located Or how
the volume of business there 90
be transactsd Because 90 that, With The
odfof experse of taxation. both national
nd local many communities arr deprived
on the AID on hanks u issue and hufdeued
with onerous rates Of exchange and Inter
eat charRea In order 90 obyiate 20 as great
an extent as possible those objections and
make the act more harmonious with proper
business conditions 4 recommend that I'D be
Amended III the following particulars.
Firsf Permit national banks 20 be or
carlEed with a minimum capital 70 $500
n amp place having a population " 4.Oco
-second. Reduce the rate OF taxation or
uIallng notes secured % deposit Of
"a 70 one-half Of one per cent per an