Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-12-03


s!orers, giving its results IN detail, VIII be
duly laid before you. Our participation in
this international competition for the favor
and the trade of the world may be expected
to produce useful and important results, IN
promoting intercourse. friendship, and COM
merce with other nations. In accordance
with the provisions OF the act OF February
| ., 1873, three commissioners were appointed
10 an international conference on the subject
| Of adopting
| A COMMON RATIO BETWEEN GOLD AND
SILVER,
| for The purpose or establishing, information
| ally, the use Of himetallc money, and secur-
ing iXity Of relative value between those
| me tails. Invitations were addressed to the
| various governments which had expressed
| willingness to partic pate in its deliberations.
| Ine conference held its meetings In Paris, IN
| August last. The report of the commits
/ sioners, herewith submitted, will show It's re-
| suts. No common ratio between gold aud
| silver could be agreed upon by he confer
| ence. The general conclusion was reached
| that 1t Is necessary TO maintain in the world
! the monetary functions OF silver as well as OF
gold, leaving the selection of the use of one or
| the other OF these two metals, or of both,
| 10 be made by each STATE. Congress having
| appropriated at II last session the sum OF
| s., 100000 to pay the award Of
THE JOINT COMMISSION AT HALIFAX,
| If, after correspondence with the British
| government, on the subject Of the conformity
| OF the award to the requirements Of the
| treaty and TO the terms of the question
! thereby submitted to the commission, the
| President shall deem it his duty to make the
| payment, communications upon these points
| were addressed to the British government
| through the legation of the United States at
| London. Failing to obtain the concurrence
! OF the British government in the views of
| this government respecting the award. | have
| deemed It my duty TO tender the sum named
within the year Fixed by the treaty, accom-
pauied by notice of the grounds of the pay
| ment, and protest against any other con
| structon of the same. The correspondence
upon this subject will be laid before you.
| Inc Spanish government has officially an
nounced
THE TERMINATION OF THE RESURRECTION
IN CUBA,
| acd the restoration OF peace throughout that
island. Confident expectations are expressed
OF a revival Of trade and prosperity, which it
| Is earnestly hoped may prove we'll founded.
i Numerous claims OF American citizens for
| lief Tor injuries or restoration of property,
have been among the incidents of the long
continued hostiIties. Some of these claims
are in process OF adjustment by Spain, and
| the others are promised early and careful
! consideration. The treaty made with Italy,
In regard to reciprocal consular privileges,
| has been duly ratified and proclaimed. No
| questions OF grave importance have arisen
win any other Of the European powers.
THE JAPANESE GOVERNMENT
has been desirous OF a revision OF such parts
| OF Its treaties with foreign powers as relate to
| commerce, and, it is understood, has ad-
dressed to each of the treaty powers a re-
quest to open negotiations with that view.
| The Unit States government has been in
| chned to regard the matter iavorably.
Whatever restrictions upon trade with Japan
are found Injurious to that people cannot but
affect iujurously nations holding commercial
| intercourse with them. Japan, alter a long
period of seciusiou, has within the past few
years made rapid strides in the path Of en-
hghtenment and progress, and, not unreason-
ably, Is looking forward to the time when her
relations with the nations Of Europe and
| America shall be assimilated to those which
| they hold with each other. 4 treaty looking
to this end has been made, which will be
submitted for the consideration Of the senate.
| After an interval of several ears,
THE CHINESE GOVERNMENT
has again sent ENJOYS to the United States.
| They have been received, and permanent
legation Is now established here by that gov
ernment: 1t is not doubted that this step
| will be OF advantage to beth nations in pro.
noting friendly relations and removing
causes of difference. Tho treaty with the
Samoan islands having been duly ratified
and accepted on the part of both govern
soundiDRs Of the harbor of Pago-Pago have
been made by a naval vessel of the United
States, with a view Of its occupation as
naval station, if found desirable to the SER
vice. Since the resumption of diplomatic
| relations with
correspondence has been opened and still
continues between the two governments upon
| the various questions winch at one time
seemed to endanger their, relations; While
no formal agreement has been reached as to
! the troubles on the border, much has been
| done to repress and diminish them. The
! effective force OF United States troops on the
! Rio Graude, by strict and faithful COM
pliance with instructions, has done much
| to remove the sources of dispute,
and it is now understood that a like
| force OF Mexican troops on the other side of
! the river is also making an energetic move
ment against the maraudlng Indian tribes.
This government looks with the greatest sat
| istaction upon every evidence of strength In
| the national authority Of Mexico, and upon
every effort put forth to prevent or to punish
| incGrsionS upon our territory. Reluctant to
assume any action or attitude IN the control
| of these incursions, by military movements
across the border, not mperatiVely demanded
| for the protection of the lives and property of
| our own citizens, shall take the earliest op-
| portunity, consistent with the proper dis
| charge of this plain duty, to recognize the
! ability of the Mexican government to restrain
| effectively violations of our territory. 1t is
| proposed to hold next year an International
| exhibition In Mexico, and it Is believed that
| the display of the agricultural and manufact
| uring products of the two nations will tend
! to better understanding and increased COM
mercial intercourse between their people.
| With
| BRAZIL, AND THE REPUBLICS OF CENTRAL
AND SOUTH AMERICA,
| some steps have been taken toward the de-
Veioppent OF closer commercial intercourse.
| Diplomatic relations have been resumed
with Colombia and with Bolivia. 4
| boundary question between the Argen-
submitted by those governments for arbitra-
| ton to the President Of the United States,
and | have, after careful exam nation. given
a decision upon it. naval expedition up
THE AMAZON AND MADEIRA RIVERS
| has trough. back information valuable both
! for sClenufc and commercial purposes. A
| like expedition IS about visiting the coast OF
| Africa and the Indian ocean. The reports of
| diplomatic and consular Off GERS IN relation to
| the development of cur foreign commerce,
have furnished many facts that have proved
of puolic interest, and have stimulated to
practical exertion the enterprise of our people.
The Report OF the Secretary OF the
Treasury
furnishes detailed statement of the opera
and Of the condition of the public finances.
THE ORDINARY REVENUES
from all sources for the fiscal year ended Juus
80, 1873, were 1851, 763, 878 20; the ordinary
expenditures for the same period, were
$3.50, 1854, 1926 S0-leaving a surplus revenue
for the year of 500 799. 551 80.
THE RECEIPTS
for the present fiscal year, ending June 80,
1879, actual and eStlm2ted, are as follows
Act4al receipts for the first quarter COM
mencing July l, 1873, S73, 339, 743 IS; esti-
mated receipts for the remaining three-qulr-
tiers OF the year, $l91, ll0,2 56 81; total
receipts for the current fiscal year,
actual and estimated, 1924, 100000. The
expenditures for the same period will be,
actual and estimated. as follows: For the
quarter commencing July l, 1878, actual ex-
penditures, 3,344, 573 81; and for the re-
naming three quarters OF the year. the ex-
peuditures are estimated at Sl66, 755, 426 73-
making the total expenditures, f240, 100 600:
and leaving an estimated surplus revenue,
for the year ending June 80, 1879, Of
$24 100000.
THE TOTAL RECEIPTS
during the next fiscal year, ending June 80,
1880, estimated according to existing laws,
will be $685., 800, 600; and the estimated or
binary expenditures, for the same period, will
be 1886, 320, Alp 68; leaving a surplus of
S28, l79, 5S7 81 for that year. In the forego-
ing statements of expenditures, actual and
estimated, no amount IS allowed for
THE SINKING FUND
provi led for By the act approved February
Is, 1862. which requires that one per cent. OF
the eutiro debt of the United States shall be
purchased Or paid within each fiscal year, TO
be set apart as a sinking fund There has
been, however, a substantial compliance with
the conditions of the law. By its terms, the
public debt should have been reduced be-
tween 1862 and the close Of the last fiscal
year, $518, 361 ,SO6 28; the actual reduction
of the ascertained debt, IN that period, has
been 1920 644, 739 81; being in excess of the
reduction r-qulred By the sinking fund act
500, 282, 933 80. The amount of
THE PUBLIC DEBT,
less cash in the treasury, November /, 1873,