Ik i btcrlaiiiiitcllui wutrn VIIAVt LANCASTER, PA., WEDNESDAY. DECEMBER 7, 1881. Price Tw Gnts. Volume XVIII--Ne. 82. V silBaHHHahV V " -.--'- .JSSavT 1I i ' jDJtr goods. fMiXTS, DOLMANS, JACKETS. WATT.SHAND&CO. Have eiencU another choice line of these Elegant Clese-Fltllng LIGHT COLORED COATS and JACKETS AT PRICES LOWER THAN KVEK BARGAINS IN DRESS GOODS Twe Cases DAUHA8SE DRESS GOODS At 8c. and lOc. a yard. One Case GERSTER SUITING, 85c. a yard One Case ALL-WOOL CLOTH SUITING, 28c. a yard. We offer the very best possible value in BLACK CASHMERES At 35, 45, 50, C2 1-2, 75, 87 l-2c, SI a yard. All the New Shades In 36-INCH All-Weel CASHMERES, 50c a yd. Ladies', Gentlemen's and Children's ME RINO and ALL-WOOL HOSIERY AND UNDERWEAR In all sizes and qualities at bottom prices. We have again received a full line of BLANKET AND THIBET SHAWLS 4 at the fcuuie Lew Frlcc. CORSKTK, GLOVES, LACES. EMBROID ERIES, RIltliONS. HANDKERCHIEFS, NOTIONS, IN ENDLESS VARIETY AT NEW YORK STORE, 8 & 10 E. KING STREET. 1TKKV WARM THIS COM WEATHER METZGER, BARD& HADGHMAN Have u Large Stock of White Blankets, Colored Blankets, FROM $1.60 A PAIR UP. Comfertables in all grades AT 91, S1.25, 81.50, SI.75, 2. 92.50. UNDERWEAR, GENTS' MERINO SHIRTS and DRAWERS, AT 25c., 37c, 43c 50c, COc, 75c., $1. LADIES MERINO SHIRTS AND DRAW ERS at 37)4, s. H 65. T50- anrt 1 CHILDREN'S MERINO SHIRTS and DRAW ERS, lrem l'c. up. Gciit'H Medicated All Weel Red Shirts and Drawers at $1.50 ; regular price $4. Come nml sec thi'in and we will tell you why w c can sell tliem m cheap. We have the LADIES' MEDICATED ALL WOOL RED SHIRTS and DRAWERS. Same price; fcame quality. Wn are very busy selling lets of the above k goods as well as ? LADIES' COATS and DOLMANS, T.LACK SILKS. BLACK and COLORED CASHMERES, SHAWLS, Ac. mn nwmm NEW CHEAP STORE, Ne. 43 WEST KING STREET, llelwccn the Cooper Heuse and Serrel Herso Hetel. (Adler's Old Stand.) H AG Kit & UKOTHEK. . Hap & Brether, NO. 25 WEST KING STREET, Oner In Large Assortment AND- LOWEST PRICES, NEW DRESS GOODS, NEW DRESS GOODS, NEW DJiESS GOODS, CLOAKS, DOLMANS AND JACKETS, CLOAKS, DOLMANS AND JACKETS, CLOAKS, DOLMANS AND JACKETS, SHAWLS, SIIAWLS, SHAWLS, SILKS, VELVETS AND PLUSHES, SILKS, VELVETS AND PLUSHES. SILKS, VELVETS AND PLUSHES, LACES, HOSIERY AND GLOVES, LACES, HOSIERY AND GLOVES, LACES, HOSIERY AND GLOVES, LADIES' MERINO UNDERWEAR, LADIES' MERINO UNDERWEAR, LADIES' MERINO UNDERWEAR. mg-W'e invite examination. Hager & Brether. i 1AVEKNS or LURAY. CAVERNS OF LURAY, LURAY, PAGE COUNTY, VIRGINIA, About one mile from the passenger depot el the Shenandoah Valley Railroad, are new brilliantly illuminated with the Elxctbie Liebt. THE LURAY INN, Specially erected and beautifully tarnished for the accommodation et visitors .te the Caverns is open for the reception or guests. A CAPACIOUS RESTAURANT offers un usual facilities te large and small excursion parties. octse-imdaw JOIIX JOHN THE GEEAT Of AT THE GRAND DEPOT, In both the Main Building and the two new annexes, when FIVE ACRES OP FLOOR SPACE AND GALLERIES will be thrown open te the public for th marvelously beautiful exhibition of dry goods, faney goods, ladies dresses, and hbuso hbuse furnishings of every description. Vienna, Paris, Berlin and Switzerland have poured in beautiful things for Christmas, and the new toy department covering a half acre let is LIKE FAIRY LAND. All told, the present stock offers our customers a selection from almost two million dollars' worth of goods. The ladies' suits and coats and the Fur Department occupy the new building directly en the corner of Thirteenth and Chestnut. The ladies', gents' and children's hosiery, gloves and gents' furnishing goods occupy the threa stores (thrown into one) en the west side of Chestnut Street entranee. The Immense Windows On Chestnut Street, and the arcade entrance, with its splendid displays of Christmas things, ., WiU he iHnminated with Electric Light until 10 o'clock every night. Mail erdei-3 have our careful attention. We are organized te attend te twelve hundred letters daily. JOHN WANAMAKER, Grand Depot Thirteenth, Market and Chestnut Sts., Philadelphia. BOOKS AVI SXAaIONERX. f-IHKISTMAS FKK&BNTS, ILLUSTRATED BOOKS nml Gem of Art In Christinas eml New Year Cards at L. M. I LYNN'S, Ne. 48 WEST KINO STREET. 1881. 1882. CHEISTMAS HOLIDAY GOODS!! NOW OPEN : CALL AND SEE! AT THE BOOKSTOKE OF JOM BAER'S SONS, 15 and 17 NORTH QUEEN STREET, LANCASTER, PA. COAL. O B. MARTIN, Wholesale and Eetall Dealer In all kinds of LUMBER AND COAX. 49-fard: Ne. 429 North Water and Prince streets above Lemen. Lancaster. n3-lyd COHO & WILE?, SBO NOBTU WATER ST., Lantarter, Va.t Wholesale and Retail Dealers in LUMBER AND GOAL. Connection With the Telephonic Exchange! Branch Office : Ne. 23 CBNTKE SQUARE. tebSS-Iyd pOTO RELLLY & KELLER JOE GOOD, CLEAN FAMILY COAL, Alse, Hay and Straw by the bale or ten. Farmers and ethers In want et Supcrlei Manure will find It te their advantage te call Yard, Harrisburg Pike. ( Office 2QX East Chestnut street. aKlMt r AD1KS- HAIK DRKSSKK MRS. C. LTLLEE. Ladles' Hair Dresser. Manufacturer and Dealer In IJuir Werk, Ladles' and Gents' Wins. :embings straight ened and made te order. Hair Jewelry or all kinds made up. Alse. Kid Gloves and Feath ers cleaned and dyedj Alse, Ladies' Shampoo In jr. 225 227 NORTH QUEEN STEET. e5-3md Four doers above P. R. B. Depot WAX A MAKER'S QBE AT HOLIDAY WANAMAKBR WILL INAUGURATE ON MONDAY, DECEMB HOLIDAY 1ROX ritON JIITTEKS. IRON BITTERS! A TRUE TONIC. IRON JUTT Kits arc hlgl:ly;recemniended ter all diseases reqr.lring a certain and efll clcnt tonic; especially INDIGESTION, DYSPEPSIA, LNTERMITTENTFEVERS, WANT OF APPE TITE, LOSS OF STRENGTH, LxVCK OF ENERGY, &c. It enriches the bleed, strengthens tlie muscles, and gives new Hie te the nerve. It acts ML-eM niiurmnn Mm disrestive ercnna. removing all dvanvnttc svmnteins. audi as Taxtina tht I Feed, Belching, Ileal in the Stomach, Heartburn, etc. The only Iren Preparation that will ! net Dlacken the teetli or Rive headache. Sold ly all druggists. Write ter the ABC Heek, 32 pp. et useful and amusing rending sent jrce. BROWN CHEMICAL COMPANY, iss-lyd&w BALTIMORE, MD. Fer Sale at COCHRAN'S DRUG STORE, 137 and 139 North Queen street, Lancaster. DRY L ANK S: CO. LAJE Ne. 24 EAST KING STREET, LANCASTER, PA., DEALERS IN FOEEIGI AM DOMESTIC DRY GOODS. JUST OPENED A SPLENDID LINE OF LADIES' COATS AND COATINGS, VERY CHEAP. LADIES' UNDERWEAR in all grades. GENTLEMEN'S UNDERWEAR, in Red and White Goods. BLANKETS, in great variety. FEATHERS, Steam Cured. m CARPETS and QUEENSWARE. HORSE and LAP BLANKETS, BOLTING CLOTHS. &c. Special Inducements in price new as wc desire te make a radical change In block by JANUARY 1,1882. Jacob M. Harks. Jehn MEDICAL. T OCUKK'S Renowned Cough Syrup. A pleasant, safe, speedy and sure remedy ler Colds, Coughs, Hoarseness, Asthma, Influen za. -Soreness el the Threat and Chest, Bron chitis, Whooping Cough, Spitting or Blced, In flammation et the Lungs and all Diseases of the Chest and Air Passages. This valuable preparation combines all the medicinal virtues of these articles which long experience has proved te possess the most sate and efficient qualities ler the cure of all "kinds of lung diseases. irxiUJci, xe ient. jrrcpureu umauu beiu Dy OHAS. A. LOOHER, WHOLESALE AND RETAIL DRUGGIST, Ne. 9 East Khg street, Laacaster. SALE. ER 5th, yv SAM RITTERS. rKON 1MTTERS. SURE APPETISER. GOODS I ANE& CO. &d CO., A. Charles. Jehn B. Reth. UOTELS. NOW OPKK SPKECHKK HOUSE, ON Europcen plan. Dining Reems let Ladies and Gentlemen. Entrance at Ne. 31 North Duke street. Clam and Turtle Soup Soup Lebster Salad, Oysters In Every Style and nil the Delicacies et the Season. We solicit the patronage of the public. may7-td STEAMED OYSTEKS. Specialty made of Steamed Oysters at the SPRECHER HOUSE, Ne. 27 North Duke Street. Having lurnished our Restaurant with a boiler for steaming oysters, wc take this meth od et Informing the public that wc are pro pre pared at all times te furnish them te families at their houses or at the restaurant. Ladies' entrance. Ne. 27 North Duke street GROFF ft COPELAND, oetmtd Proprietors. aLaftcastet Jnteiligencet. WEDNESDAY EVENING, DEC. 7, 1881. TflESSAGE. President Arthur's First Communication -" te Congress. A LONG AND ELABORATE DOCUMENT. Star Keute Cases te be Prosecuted i aval Imprevemeutu Urged Tax Belief Suggested Uml Service Considered. Te the Senate ami Ilou&c-ef Jieprescntat ives of the United States : An appalling calamity has befallen the American people since their chosen repre sentatives last met in the halls where you are new assembled. We might also tccall with unaltered content the rare prosperity with which throughout the year the nation has been blessed. Its harvests have been plenteous', its various industries have thriven, the health of its people has been preserved, it: lifta miinfainert TDitli fnrniTli (rnvftrn. JTne'fils'KrialsliIrbed relations of amity and peace JfOr these manifestations et tlis laver we ewe te Him wiie Holds our destiny in His hands the t.ibutc of our gratelul devotion. Te that mysterious exercisse of His will which has taken from us the loved and illustrious citizen who was but lately the .head of the nation, we bow in sorrow and submission. Ihe memory et bis exalted character, of bisj neble achievements and of his patriotic life will be treasured for ever as a sacred possession of the whole people. The auueuuccmcut et his tleatu drew from foreign governments and peoples tributes of sympathy and sorrow, which history will record as signal tokens of the kinship of nations aud the federation of mankind. The feeling of geed will be tween our government and that of Great Britain was never mere marked than at present. In recognition of this pleasing fact I directed en the occasion of the late cen tennial celebration at Yorktown that a salute be given te the British flag. Our Foreign Kelatlens. Save for the correspondence te which I shall refer hereafter in relation te the pro posed canal across the Isthmus of Panama little has occurred worthy of mention in the diplomatic relations of the two coun tries. Early in the year the Fortune Bay claims were satisfactorily settled by the British government paying in full the sum of .415,01)0, most of which has been already distributed. As tbe terms of the settle ment included compensation for injuries suffered by our iisherment at Aspce bay, there has been retained from the gross award a sum which is deemed adequate for these claims. The participation of Americans in the exhibitions at Melbourne aud Sydney will be approvingly mentioned in the reports of the two exhibitions seen te be presented te Congress. They will disclose the readiness of our ceuniiymen te make successful competition in distant fields of enterprise. Negotiations for an international copyright convention are in hopeful progress. The surrender of Sit ting Bull and his forces upon the Canadian frontier has allayed apprehonsion,altheugh bodies of British Indians still cress the border in quest of sustenance. Upen this subject a correspondence has been opened which premises an adequate understand ing. Our troops have orders te avoid meanwhile all collisions with alien In dians. The presence at the Yorktown celebra tion of representatives of the French re public, of the descendants of Lafayette and of his gallant compatriots who were our allies in the Revolution, has served te strengthen the spirit of goodwill which has always existed between the two na tions. Yeu will be furnished with the proceedings of the bi-metallic cenlerencc held during the summer at the city of Paris. Ne accord was reached, but a valu able interchange of views was had, and the conference will next year be renewed. At the electrical exhibition and congress held at Paris this country was creditably represented by eminent specialists who in the absence of an appropriation generous ly lent their efficient aid at the instance of the state department. While our exhibi tors in this almost distinctively American field of achievement have wen several val uable awards, i lccemmend that Con gress previde for the repayment of the personal expenses incurred in the public interest by the honorary commissioners and delegates. Ne new questions respecting the statu of our naturalized citizens in Germany have arisen during the year, and the causes of complaint, especially in Alsace aud Lerraine, have practically ceased, through the liberal action of the imperial government in accepting our efteu ex pressed views en the subject. The ap plication of the treaty of 18C8 te the lately acquired Rhenish provinces has received very earnest attention, and a definite and lasting agreement is confidently expected. The participation of the descendants of Baren Ven Steuben in the Yorktown fes tivities and their subsequent reception by their American kinsmen strikingly evincecl the ties of geed will which unite the Ger man people and our own. Our ultcrcourse with Spain has been friendly. An agreement concluded in February last Axes a term for the labors of the Spanish aud American claims com mission. The Spanish government has been requested te pay the late awards of that commission, and will, it is believed, accede te the request as promptly and as courteously as en former occasions. By recent legislation onerous fines have been imposed upon American shipping in Span ish and colonial ports for slight irregu larities in manifests. One case of hard ship is especially worthy of attention. The bark Masonic, bound for Japan, enteied Manila in distress, and is there sought te be confiscated under Spau ish revenue laws for an alleged shertage iu her transhipped cargo. Though efforts for her relief have thus far proved un availing, it is expected that the whole mat ter will be adjusted in a lnendly spirit. The Senate resolutions of condolence en the assassination of Czar Alexander II. were appropriately communicated te the Russian government, which, in turn, has expressed its sympathy in our late nation al bereavement. It is desirable that Our cordial relations with Russia should be strengthened by prepcr engagements as suring te peaceable Americans who visit the empire the consideration which is due te them as citizens of a friendly state. This is especially needful with respect te American Israelites, whose classification with the native Hebrews has evoked ener getic remenstrances te this government. A supplementary consular agreement with Italy has been sanctioned and pro claimed, which puts at test conflicts of jurisdiction in the case of crimes en ship beard. Several important international confer' ences have been held in Italy during the year. At the geographical congress of Venice, the beneficence congress of Milan, and the hygienic congress of Turin this country was represented by delegates from branches of the pnblie service or by pri vate" citizens dnly accredited In an honor ary capacity. It is hoped that Congress will give such prominence te the results of tbeir participation as they may seem te deserve. The abolition of all discriminating da ties against such colonial productions of the Dutch East Indies as are imported hither from Helland has been already considered by Congress. I trust that st the present session the matter may be favorably concluded. The insecurity of Hfe and property in many parts of Turkey has given rise te correspondence with the Perte, looking particularly te the better protection of American missionaries in the empire. The condemned murderer of the eminent mis sienary, Dr. Justin W. Parson, has net yet been executed, although this government has repeatedly demanded that excmvlary justice be done. Again, the Swiss cov,r cev,r raent has solicited the geed offices of our diplomatic and consular 3gents- for the protection of its citizens in countries where it is net itself represented. This request has, within proper limits, been granted. Our agents iu Switzerland have been instructed te pretest against the con duct of the authorities of certain com munes in permitting the emigration te this country of criminals aud ether objec tionable pcrseus. Several such persons, through the co-operation of the commis sioners of emigration at New Yerk, have eeen sent back by the steamers which brought them. A continuance of this ceurse may preve a mere effectual remedy than diplomatic remonstrance. Treaties of commerce and navigation and for the regulation of consular privi leges have been concluded with Reumaniu and Servia since their admission into the family of the European states. As is natural with contiguous states having like institutions and !ike aims of advancement and development, the friendship of the United States aud Mexico has been constantly maintained. This government has lest no occasion of encouraging the Mexican government te a beneficial realization of the mutual advan tages which will result from mero inti mate commercial iutcrcouise and from the opening of the rich interior of Mexico te railway enterprise. I deem it important that means be provided te restrain the lawlessness unfortunately se common en the frontier and te suppress forays of the reservation Indians en the ether sicla of the Rie Graude. The neighboring states of Central America have preserved internal peace, and their outward relatieus toward us have been these of intimate friendship. There are encouraging signs of their grow ing disposition te subordinate their local interests te ihese which arc common te them by reason of their geographical re lations. The boundary dispute between Guale mala and Mexico has afforded this govern ment au opportunity te exercise its geed offices for preventing a rupture between these states and for precuriug a'pcaccable solution of the Question. I cherish strong hepe that in view of our relations of amity with both countries our friendly counsels may prevail. An envoy of Gua temala has brought te me the condolences of his government aud people en the death of President Garfield. The Cesta Rican government lately framed an engagement with Colombia for settling, by arbitration, the boundary question between these countries, provid ing that the pest of arbitration should be offered successively te the Kmgef the Bel gians, the King of Spain and the Presi dent of the Argentine Confederation. The king of the Belgians has .declined te act, but I am net as yet advised of the action of the king et Spain. As we have certain interests in the dis puted territory which are protected by our treaty engagements with one of the par ties, it is important that the arbitration should net, without our consent, affect our rights, and this government has accord ingly thought proper te make its views known te the parties te the agreeraeut, as well as te intimate them te the ISel gin and Spanish governments. The Panama Canal. The questions growing out of the pro posed intcr-occanie waterway across the Isthmus of Panama are of grave national importance. This government has net been unmindful of tbe solemn obligations im posed upon it by its compact of 1846 with Colombia, as the independent and sover eign mistress of the territory crossed by the canal, aud has sought te render them as effective by fresh engagements with the Colombian republic looking te their practical execution. The negotiations te this end, after they had reached what ap peared te be a mutually satisfactory solu tion here, were met in Colombia by a dis avowal of the powers which its envoy bad assumed and by a proposal for renewed negotiations en a modified basis. Mean while this government learned that Colom bia had proposed te the European powers te join in a guarantee of the neutrality of the proposed Panama canal a guarantee which would be iu direct contraventieu of our obligation as the sole guarantor of the integrity of Colombian territory and pf the neutrality of the canal itself. My lamented predecessor felt it his duty te place before the Eurepeau powers the reasons which make the prier guarantee of the United States indispensable and for which the in terjection of any foreign guarantee might be regarded as a superfluous aud unfriend ly act. Feieseeing the probable reliance of the British government en the previsions of-the Clayten-Bulwer treaty of 1850 as affording room for a share in the guarantee which the United States covenanted with Colombia four years before, I have net hesitated te supplement the action of my predecessor by proposing te her majesty's government the modification of that in strument and the abrogation of such clauses thereof as de net comport with the obligations of the United States towards Colombia, or with the vital needs of the two friendly parties te the compact. A Special Envey. This government sees with great con cern tha,centinuance of the hostile rela tiens between Chili, Belivia and Peru. An early peace between these republics is much te be desired, net only that they may themselves be spared further misery and bloodshed, but because their con tinued antagonism threatens consequences which are in my judgment dangerous te the interests of republican government en this continent, and calculated te destroy the best elements of our free and peaceful civilization. As in the present excited condition of popular feeling in these coun tries there has been serious misapprehen sion of the position of the United States, and as separate diplomatic intercourse with each through independent ministers is sometimes subject owing te want of prompt reciprocal communication te tem porary misunderstanding, I have deemed it judicious at the present lime te send a special envoy, accredited te all and each of them and furnished with special instruc tions, which will, I trust, enable him te brieg these powers into friendly relations. The president, while still upon the subject of feieign relations, regrets that the com mercial interests between the United States and Brazil, from which great ad vantages were hoped a year age, have suf fered from the withdrawal of the American steamers. Regarding China and Japan he says : I renew the recommendation which has heretofore been urged by the execu tive upon the attention of Congress, that after the redaction of sueli amount as may be fennd due te American citizens the bal ance of the indemnity funds heretofore obtained from China and Japan, and new in the bands of the state department, be returned te the governments of these countries. The president recommends the restoration of sessions in Greece and Ecuador, and invites the attention of Con gress te the new cede of international rules for the prevention of collisions en the high seas. ,- The Ylnaacial Situation. Tbe president says that the report of the secretary of the treasary represents in detail a highly satisfactory exhibit of the finances and the condition of the various branches of the public service adminis tered by that department. The increase of the revenues for 1881 ever theso et the previous year was $29,352,001.10. It is es timated that the receipts during the prcs ent fiscal year will reaeh $400,000,000 and the expenditures $270,000,000, leaving a surplus of $180,000,000 applicable te the sinking fund and the redemption of the public debt. I appreve the reeommonda reeemmonda reeommenda tionof the secretary of the treasury, that prevision be made for the early retirement of silver certificates aud that the act requiring their issue be repealed. They were issued iu pursuance of the policy of the government te maintain silver at or near the geld standard, and were accordingly made rcccivable for all customs, taxes and pnblie duties. About sixty-six millions are new outstanding. They form an unnecessary addition te the paper currency, a sufficient amount of which may be readily M!p plied by the national banks. In accordauce with the act of February 28, 1878, the treasury department has month ly caused at least two millions iu value of silver bullion te be coined into standard silver dollars. One huudred and two mil lions of these dollars have been already coined, while only about thirty-four mil lions are in circulation. Fer the reason which he specifies I concur in the secre tary's recommendation that the prevision for coinage of a fixed amount each month be repealed, and that hereafter only se much be coined as shall be necessary te supply the demand. The secretary advises that the issue of geld certificates should net for the present be resumed aud sug gests that the national banks may prepei ly be forbidden by law te retire their cur rency except upon leasenable netice of their intention se te de. Such legislation would seem te be justified by the recent action of certain banks en the occasion re ferred te in the secretary's report. Of tl e fifteen millions of fractional currency still outstanding only about eighty thousand have been redeemed the past year. The suggestion that this ameuut may properly be dropped from future statements of the public debt-seems worthy of approval. Ketundlng Operations. The president next speaks of the le funding operations,and says the reduction of the annual interest en the public debt through these transactions is as fellows : By reduction of interest te three and one half percent, $10,473,'.)52.25 ; by redemp tion of bends, $6,352,340 ; total, $10,820,. 292.25. The three and one half pcrccutunt bends, being payableat the plcasme of the government, are available for the invest ment of surplus revenue without the par inent of premiums. Unless these bn-i s can be funded at a much lower iati l interest than they new bear, I agre with the secretary of the treasury that no leg islation respecting them is desirable. It is a matter for congratulation that the business of the country has been se pros perous during the past year as te icM by taxation a large surplus of income te t'xi government. If the revenue 3Iaws remain unchanged this surplus must year by year increase en acceuut of the i eductien of the public debt and its burden of interest, aud because of the rapid increase of our popu lation. In 18G0, just prier te the institu tion of our internal revenue, our popula tion but slightly exceeded 30,000,000 ; by the census of 1880 it is new found t exceed 50,000,000. It is estimated that cveuifthe annual receipts and expendi tures should continue as at present the entire debt could be paid in ten years. Iu view, however, of the heavy lead of taxation which our pcenlu have already home, we may well consider whether it is net the part of wisdom te icduee the revenue, even ir wc delay a little the pay ment of the debt. Keller fre:u 'inxatin. It .seems te me that the time has at lived when the people may justly demand :;e:ne relief from their present onerous burden and that by due economy in the various branches of the public service this may readily be afforded. I therefore concur with the secretary recommending the abo lition et all internal revenue taxes vxeep. these en tobacco iu its various forms and upon distilled spirits aud fermented liquors, and except, also, the special tax upon the manufacturers of and dealers in smh articles. The retention of the latter tax is desirable as affording the eilicei:; of the gevernmeut a proper supervision of these articles for the prevention of fraud. I agree with the secretary or the treasury that the law imposing a stamp tax upon matches,proprietary articles, playing caids, checks and drafts may with propriety be repealed, and the law also by which b:uiks and bankers are assessed upon their capi tal and deposits. There seems te be a general sentiment in favor of this course. In the present condition of our revenues the tax upon deposits is especially unjust. It was never imposed iu this country un til it was demanded by the necessities of war, and was never exacted, I believe, in any ether country, even in its greatest ex igency. Banks arc required te sccuie their circulation by pledging with the trea surer of the United States bends of the general government. The interests upon these bends, which at the time the tax a.s imposed was 0 per cent., is new in most instances 3J per ceut. Besides, the entire circulation was originally limited by law and no increase was allowable, Tlie Tax en Circulation. When the existing banks bad practically a monopoly of the business there was for m in the suggestion that for the franchise te the favored grantees the government might very properly exact a tax en circu lation ; but for years the system has been free ad the amount of circulation regu lated by the public demand. The reten tion of this tax has been suggested as :i means of reimbursing the government for the expenss of printing and fur nishing the circulating notes. If the tar should be repealed it would certainly seem proper te require the na tional banks te pay the amount of such expense te the comptroller of the currency. It is, perhaps,doubtful whether the imme diate reduction of the rate of taxation upon liquor and tobacco is advisable, es pecially in view of 'the drain upon the treasury which mast attend the payment of arrears of pensions. A compr'ser, however, of the amount of taxes collected under the varying rates of taxation which have at different times prevailed suggests the intimation that some reduction may I seen be made without material diminution
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