The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1878-12-07

eminent ana progress, ana, not unredSOH-
ably, is looking forward to the time when
her relations with the nations Of Europe
and America shall be assimlated to those
which they hold with each other, "A
treaty looking to this end has been made
which will be submitted for the consider
alton of the Senate.
After an interval of seven years the
Chinese Government has again sent en-
voys to the United States. They have
been received, and IL permanent lega-
ton is now established here by that Gov
eminent. IL is not doubted that this step
will be Of advantage to both nations IN
promoting friendly relations and rem0V-
ing causes of difference. The treaty with
the Samoan Islands having been duly
ratified and accepted on the part of both
Governments, is now in operation, and u
survey and soundings Of the harbor Of
Pago-Pago have been made by naval
vessel of the United States, with II view
of its occupation rs a naval station, II
found desirable to the service.
Since the resumption of diplomatic re-
latiOns with Mexico. correspondence has
been opened and still continues between
the two Governments upon the various
questions which at one time seemed 10
endanger their relations While no form
~ ~
troubles on the border, much has been
done To represS and diminish them. The
effective force of United States troops on
the Rio Grande, by il strict and faithful
compliance with instructions, has done
much to remove the source OF the dis.
pute, and it is now understood that Il
like force of Mexican troops on the other
side of the river is also making an ener-
getic movement against the maraudlng
Indian tribes. This Government looks
with the greatest satisfaction upon every
evidence of strength in the national au-
thority of Mexico, and upon every effort
put forth to prevent or To punish incur
sions upon our territo.v. Reluctant to
assume any action or attitude in the con
troll of these incursiOns, by military
movements across the border, not imper-
atiyely demanded for the protection of
the lives and property OF our citizens,
shall take the earliest opportunity con-
sistent with the proper discharge OF this
plain duty to recognize the ability of the
Mexican Government to restrain effect
lively violations of our territory. 1t is
proposed to hold next year IN interna-
tional exhibition in Mexico, and it is be-
lieved that the display OF the agricultural
and manufacturing products of the two
nations will teld to better understanding
and increased commercial intercourse be-
tween their people.
With Brazil and the Republics of Cen
trail and South America some steps have
been taken toward the development of
closer commercial intercourse. Dlpl0-
matte relations have been resumed with
Columbia and with Bolivia. A boundary
question between the Argentine Repub-
lie and Paraguay has been submitted by
those Governments for arbitration to the
President OF the United States, and
have. after careful examination. given Il
decision upon 1t.
a naval expedition up the Amazon and
Madeira rivers has brought back inform
alton valuable both for scientific and
commercial purposes A like expedition
is about visiting the coast of Africa and
the Indian Ocean. The reports of diplo-
matte and consular officers in relation to
the development of our foreign commerce
have furnished many facts that have
proved of public interest, and have slim
ulated to practical eXertion the enterprise
of our people.
TIE NATIONAL FINANCES.
The report of the Secretary Of the
Treasury furnishes IL detailed statement
of the operations Of that department of
the Government and of the condition Of
the public finances.
The ordinary revenues from all sources
for the fiscal year ending June ~. 1873,
were S257 1853, $3.50; the ordinary eX-
UpnditureS for the same period were S236,-
96l ,326 .S0-leaving Il surplus revenue tor
the year OF $50, 100, 5jl.9O.
The receipts of the present fiscal year.
ending June 50, 1879, actual and eStimat-
ed are rs follows Actual receipts for
the first quarter commencing July |, 1875,
S73 ,3S9. Ti3. - estimated receipts for the
remaining three quarters of the wear,
Sl9l, llO,256.5 81 total receipts for The eur
rent fiscal year, actual and estimated,
S26l .5oO,0OO The expenditures for the
same period Will be, actual and estimated,
us follows: For the quarter commcnc-
ing July |, 1878, actual expenditures, S73,-
3ii. 573.27; and for the remaining three
quarters of the year, the expenditures are
estimated at SlG6, 10, j26 75-making the
total expenditures $40, 10000; and leaV
ing an estimated surplus revenue, for the
year ending June 80, 1879, vt 81, iOO,OO
The total receipts during the next fiscal
wear. ending Jun" 30, 1850, estimated ac-
cording To existing laws, Will he S26i 800
600; and the estimated ordinary cXppndi-
lures. tur the same period, will be $50
800 il2G'; leaving surplus of 50, l79,-
587. - for that year.
In the foregoing statement ot cXpendi-
lures. actual and estimated, no amount is
allowed for the sinking fund provided for
10y the act approved February -. 1862,
which provides that per cent. of the en-
tire debt of the United States shall be
purchased or paid within each fiscal year,
to be set apart rs Il sinking fluid. There
has been, however, u substantial cOmpli-
ance with the provisions of the law. BY
its terms, the public debt should nave
been reduced between 1862 and the close
of the last fiscal year, S5lS, 1861 ,sO6.2S ;
the actual reduction of the ascertaiucd
debt, in that period, has been S720,64 =
1851, being III excess of the reduction
required by tie Sinking Fund act, S2O2.-
2S2 1888
The amount of the public debt less
cash III the Treasury, November /, 1878,
WAS S2O2i 200 OS3iS--a reduction since
the same date last wear. of So, l50,6l7 80.
The progress made during the last year
in retunding the public debt at lower
rates of interest is very gratifying. The
amount O, per cent. bonds sold during
the present year prior To November p
ISIS. is Si0O,2iO.S00, and 6 per cent bonds
l., Al