The cotton and cotton manufactures included in this statement were valued at $208,900,415; the breadstuffs at $162,544,715; the provisions at $114,416,547, and the mineral oils at $47,103,248. During the same period the imports were as follows: Merchandise $667,697,693 Gold and silver 37,426,262 ___________ Total 705,123,955 More than 63 per cent of the entire value of imported merchandise consisted of the following articles: Sugar and molasses $103,884,274 Wool and woolen manufactures 53,542,292 Silk and its manufactures 49,949,128 Coffee 49,686,705 Iron and steel and manufactures thereof 41,464,599 Chemicals 38,464,965 Flax, hemp, jute, and like substances, and manufactures thereof 33,463,398 Cotton and manufactures of cotton 30,454,476 Hides and skins other than fur skins 22,350,906 I concur with the Secretary of the Treasury in recommending the immediate suspension of the coinage of silver dollars and of the issuance of silver certificates. This is a matter to which in former communications I have more than once invoked the attention of the National Legislature. It appears that annually for the past six years there have been coined, in compliance with the requirements of the act of February 28, 1878, more than 27,000,000 silver dollars. The number now outstanding is reported by the Secretary to be nearly 185,000,000, whereof but little more than 40,000,000, or less than 22 per cent, are in actual circulation. The mere existence of this fact seems to me to furnish of itself a cogent argument for the repeal of the statute which has made such fact possible. But there are other and graver considerations that tend in the same direction. The Secretary avows his conviction that unless this coinage and the issuance of silver certificates be suspended silver is likely at no distant day to become our sole metallic standard. The commercial disturbance and the impairment of national credit that would be thus occasioned can scarcely be overestimated. I hope that the Secretary's suggestions respecting the withdrawal from circulation of the $1 and $2 notes will receive your approval. It is likely that a considerable portion of the silver now encumbering the vaults of the Treasury might thus find its way into the currency.