Price Two Cents.
{"newspaper_name": "The New York herald.", "edition": "01", "page": "p1", "byline": ""}
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countries and cially in foreign gold c0nsallo
which could baspeedly converted upon the spot into
our own coins OF gold and silver. The amount
also of such foreign coin brought by s%isran,s to
tn. city s New York soS y'Ty z ~ ,s ss
Il the mint for rs-cOinage: The foreign gold coins
DO not and feared w mot si.Susss generally
tender by law The rate which these coins fixed
by law IS not familiar to the people, the asnoTnaton
divided are not decimals, the rates at which it is
taken vary disront parts of the Union II Is ncon
yenient in the way of ready transfer in countng il
mora diHicut in sommon use. distinguish the genuns
from the counterfeit foreign coin and the stamp upon
foreign gold coin doss not and will not ciculats gene
rally - a currency among the people In many Of the
variety Of foreign gold soin aud when it is rendered by
them in payment OF their notes. the great body Of hs
ceivs thsm; al thus the circulation Of gold cur
rency is to 9fss. extent. defeated Il these coins
the eagle, the half eagle, and quartereagls we
should speedily have large supply Of American
currency and thus give to 1t greater sta
blity. and greater security to all the business OFT
has during the present year under the directions
department, been converted into American gold coin
the of the treasury, and the
establishment Of branch Of the mint At the great com,
branch mints depostories the sum remaining IN the
hands OF other receivers Of public moneys whether Of
lands or customs would be inconsde rable and the
ernment could be readily protected from all losses of
such sums by adequate bonds and the power by law,





II is believed under such system, that no defaults
safely kept aud disbursed in gold and silver This gov.
ernmen Is made by the constitution the guardian OF


ns pscs ss y,u by this @
of its first duties to supply such currency, oy an en-
but in vain will attempt perform that duty IT, when
coin i, made regulated in value, this Government
drives out Of the country. substituting the paper OF
banks in ell the transactions OF the Government.


There is nothing which will advance 80 surely the
prosperity Of the country adequate supply Of
specie difased throughout every portion OF the oon
on a.1 svsrvWhaIs among the people II ia currency
that will break fail- will neither expand nor
Il will lead to no extTavagan speculatons at one time,
TO be followed by certain depression at anoher nor


ton Of such currency There danger that we shall
nave too much gold silver in actual Circulation or
sSss SU small w se indicted on the Of the country


dminution OF the circulation OF the paper OF 9anKs;
ana 'sg svs Even their most ardent
admit banks to periodical expansions ano
giving them the funds Of Government to losn and
by receiving and disbursing nothing put the paper


class Of the people will be advanced by the esaS
lshment Of the constitutional treasury, ana inat ne
1rom its sdoption It win give stability to all thsir
operations, and insure them to great extent against
currency so prejudcial to their interests By guard


ing against inhations of the currency, ~ VIII nave
n
banks or dangerous enlagements OF their business and
ed Whist sound and Stable currency guards tine
nufacturer against excessive importaons from ABROAD
rnons rsvulsions in which 80 many thousands
duced TO bankruptcy Tne tariff, nfolowed, as IN the
an naatsd whilst it thus enhances the sxpen
Of manufacturing at home Will speedy ana ce'an


raise prices up to the in 0 ns


acturer enable the foreign importer again to HOOD
the market at the enhanced prices arising from M mi
ted currency But soon the revuision comes ana az
overwhelmed in a common ruin me currency ~
reduced below the wants OF the unry oy sua1en sno
ruinous contractsn and the labor and industry years
are required repair the mischief Stability both IN
the tariff and the currency what the sdns
ed by TO reasonable and moderate revenue ou~
.ieswhch when imposed truly ana IN gooo iaitn
for that will yield sufficient advantage to anod
reasonable profits and let this permanent system and
other can be permanently be established and sccom
panied by stable currency the ma ~
series years will derive the greatest Dement'S from tne
system. The pre- sent system cannot be permanent. II
unequal and unjust-too exorbitant and oppressive
and too clearly conflict with the fundamental prin
ciples of the constitution. If the manufacturer thinks
that this system be permanent let him look to the
constant changes which attended all attempts to
establish and continue protective tariff The hist tariff
based part upon Principe OF very moderate
protection domestic manufacturers and the result has
oeen appears by the table hereto annexed mat tne
tariff has been changed aud modified thirty times
since that period-being than once on an srags


every Congress since the government wa founded
and one of tariffs in itself system OF success
annual changes operating through period of ten
years or these changes fourteen have been gene
raj, and sixteen special. From 1916 onward, tnes
changes have been frequent; and it is vain
pect permanency from anything but revenue tarn--
stability is what manufacturer should desire, and
especially that that should be of the
arena of politics, by just and permanent setlensnt
Inc tarH, compiled from official documents. accom-
pany this report. Some OF these tables exhibit the
ration OF each OF tariffs, from the organiza-


ton of the government 10 the present period. In
order to enable tho secretary to comply win the di


ections OF the acts Of Congress, requiring hm In mis-
OrI to n
cressng revenues" and to give Information to
ssns
ted propoundng various questions with tins
been received from friends Is well as opponents Of the
tariff but the Secretary regrets that the
with very few exceptions, nave Declined answering
regards their profits and surplus IN relation to the
wages An absractof all that is deemed useful
in replies together with copy OF both the crcu-
lars, is appended to this report


The coast survey is rapidly progressing Having
been extended eastward to the eastern coast OF Massa
chusset and southward nearly to the dividing line OF
Maryland and Virginia, on the chesapeake Two new
of operation have been opened under the Sane
ton OF this department in North Carolina and on the
Gulf of Mexico from which the work may be spread un


parts unite important positions for forts navy
yards habors and lighthouses present themselves along


This interesting portion of the coast OF ouisana Mss
channel between Mobile and New Orleans. Great eco.
nomy administration Of the fund appropriated
perntendent to press the work onward to completion
Three charts resulting from the survey have been
published year, I'VE mVfo Ms hesHy
ready for publication This great work il most honor.
able OF country most useful t. cur ma
Wv and commercial marine, and in oonnsxsn with


lighthouses must decrease the cost OF freight and in
surance well as the risk OF lite and property Great
attention. has been given by this department to the very
important subject OF lighthouse system The various
improvements suggested by experience at home or
aoroad-the relative advantages OF gas and OIL of fehec
tors entcular and revolving lights tine location and con
OF the buildings we'll the mode OF keep
ing the all being fully and carefully nvest
gated and a report it is believed, will be ready during
present session Of Congress From the Chesapeake
the Cspes Florida thence westward our coast
badly lighted well the great lakes Of the north
and west wrecks, often accompanied with
loss of lite and property, to require the lnterPos
ton Of Congress.


Such porIion of the charts Of the exploring expo
dition as were placed the charge OF this depart