Presidents -- United States -- Messages; United States -- Politics and government -- Sources
I think it is clear that if we should make the coinage of silver at the
present ratio free we must expect that the difference in the bullion values
of the gold and silver dollars will be taken account of in commercial
transactions; and I fear the same result would follow any considerable
increase of the present rate of coinage. Such a result would be
discreditable to our financial management and disastrous to all business
interests. We should not tread the dangerous edge of such a peril. And,
indeed, nothing more harmful could happen to the silver interests. Any safe
legislation upon this subject must secure the equality of the two coins in
their commercial uses.
I have always been an advocate of the use of silver in our currency. We are
large producers of that metal, and should not discredit it. To the plan
which will be presented by the Secretary of the Treasury for the issuance
of notes or certificates upon the deposit of silver bullion at its market
value I have been able to give only a hasty examination, owing to the press
of other matters and to the fact that it has been so recently formulated.
The details of such a law require careful consideration, but the general
plan suggested by him seems to satisfy the purpose--to continue the use of
silver in connection with our currency and at the same time to obviate the
danger of which I have spoken. At a later day I may communicate further
with Congress upon this subject.
The enforcement of the Chinese exclusion act has been found to be very
difficult on the northwestern frontier. Chinamen landing at Victoria find
it easy to pass our border, owing to the impossibility with the force at
the command of the customs officers of guarding so long an inland line. The
Secretary of the Treasury has authorized the employment of additional
officers, who will be assigned to this duty, and every effort will be made
to enforce the law. The Dominion exacts a head tax of $50 for each Chinaman
landed, and when these persons, in fraud of our law, cross into our
territory and are apprehended our officers do not know what to do with
them, as the Dominion authorities will not suffer them to be sent back
without a second payment of the tax. An effort will be made to reach an
understanding that will remove this difficulty.
The proclamation required by section 3 of the act of March 2, 1889,
relating to the killing of seals and other fur-bearing animals, was issued
by me on the 21st day of March, and a revenue vessel was dispatched to
enforce the laws and protect the interests of the United States. The
establishment of a refuge station at Point Barrow, as directed by Congress,
was successfully accomplished.
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