Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1878-12-05

Il
test against any other construction of the same
before you.
END or THE CUBAN REBELLION.
The Spanish government has officially ANNOUNCED
tue termination Of the inSurrection in Cuba and the
restoration of peace throughout that island Conf
der expectations expressed of revival of trade
and prosperity, which it is hoped may prove we'll
founded. Numerous claims of american citizens for
relief for injuries or restoration OF property have
been among the incidents Of the long continued hos
tilties. Some of these claims are in process of ad
ustment by Spain and the others promised early
and careful! consideration.
THR TREATY WITH ITALY.
the treaty made with Italy in regard TO reciprocal
consular privileges has BEEN duly ratified and pro-
claimed.
No questions of grave Importance have arisen with
any other Of the European powers.
THE SAPs.
The japanese government has been dcsrous of
revision Of such parts of its treaties with foreign
powers relate to commerce. and, il is understood,
has addressed TO each of the treaty powers request
to cpcn negotiations with that view. The U. 5. gov
crnment has been inclined to regard the matter fd
yorably, Whatever restrictions upon trade with Ja
pan found injurious to that people cannot but
affect nuriously nations holding commercial inter-
course with them. Japan, afteI long period OF Sc
clusou, has, within the past few years, made rapid
strides in the path of enlightenment and progress,
not unrcasonably is looking forward to the time
wnen her relations with the nations of Europe and
America hall be assmilatei to those which they
hold with each other. 4 treaty looking to this end
has been made which Will be submitted for the
sideratiOn of the senate
TIL CHINESE.
After al interval of several years. the Chinese gov
ern1.en has again sent envoys to the United States.
They have been received and a permanent legation
is established here by that government It is
not doubted that this step will be of advantage to
both nations i'll promoting friendly relations and re-
moving causes OF difference.
SAMOAN ISLANDS
The treaty with the Samoan Islands has been
duly ratified and accepted on the part of both gov
erBments and is now in operation and survey and
sOuhdings of the harbOr of Sego Pago have been
made by naval vessel of the United states, with
view of the United states occupation naval sta-
ton. If found desirable to the service
MEXiCo.
Since the resumption Of diplomatic relations with
Mexico correspondence has been opened and still
continues between the two governments. upon the
various quest iOnS which at one time seemed TO en-
danger their relations. While no formal agreement
m een one s TO ae r9u6Gs GGrde
The effective force of United states troops on tie
Instructions has done much 10 remove the source
OF dispute, and it is iiJw understood that like
force OF Mexican troops on the other side of the
river Is also making an energetic movement against
Win the greatest satisfaction upon every evidence
OF strength in the national authority of Mexico,
sh ncHrso6s upon pom our erory ReWctanf to as
sumo any action or attitude for the control of these
not mperatively demanded for protection of lives
earesf onopuv pt 1r om Tha M take the
discharge OF this plain duty, to recognize the abil
ivey violations of our territory 1t is proposed to
hold next year an international eXhi ition in Mex
c0 and It is believed that the display of the agr-
cultural and manufacturing products of the two
nations Will tend to better understanding and in
creased commercial intercourse between their
people.
SOUTH AMERICAN STATES
With Brazil and the republics of Central and
h1 Vp he tax fnu- ard
the development of closer commercial intercourse.
luinbia and with Bolivia. A boundary question
between the Argentine Republic and
Paraguay. has been submitted BIZ those govern
mems for arbitration 10 the president of the
United States. and have, after careful examina-
ton, given decision upon it. naval expedi-
lon up the Amazon and Madeira rivers mas
brou Mt back informal on valuable both for
scientific and commercial purposes. A like expe.
dtlon is about visiting the coast of Africa and
tue Indian Ocean. The reports of diplomatic and
consular officers in relation to the development
of our foreign commerce hare not only furnfs he'd
| many facts that have proved of public interest,
Out have stimulated to practical eXertion the en-
terpriSe OF our people.
TIE TREAsURERs REPORT.
The report of the secretary of the treasury fur
niShed de ached statement of the operations of
that department of the government and of the
condition of the public finance The ordinary rev.
enues from all sources for the fiscal year end
ed June Both, 1873, were S257, ,163 S7810. The or
dnary expenditures for same period were $685.
964 326 So leaving surplus revenue for the wear
OF 2Co99,55l 3d. The receipts for the present fis.
cal year ending June so, 1879, actual and eSti-
mated, are as follows: Actual receipts for the lSt
quarter commencing July l, 1878 S13 3S9, ,743 43;
ers Of the year s M te Tota pecn
for the current fiscal year, actual and estimated,
1854 4500OOO. The expenditures for the same peri
od Will be, actual and estimated as follows: For
the quarter commencing July /, 1873, actual ex-
penditureS, S73 344 573.27, AMI for the re-
malhlng three-quarters of the year
] 1irrfrn
making total expenditure OF S240 100000 aud
leaving an estimated surplus revenue for the
year ending June go 1872 of s24 400, COO The
total receipts during the next fiscal year, en- ling
June 20. 1850, estimated according to existing
laws, Will be S264,5}0 600, and the estimated or
dinary dina e eXpehdtures for the same period will be
S563sU, 4l2 bS, leaving surplus of SS 179, 1872
for that year. In the foregoing statements of ex-
penditures- actual and estimated no amount is
allowed for the sinking fund provided tOr by the
act approved February 25, 1862, which provides
tat ore per cent. of the entire debt of the Unit.
ed States shall be purchased or paid with each
fiscal year 10 be set apart as a sinking fund
There has been, however, d substantial compli.
ance 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,
S0lS,36l, SOC 2S The actual reduction Of the as
certained debt in that period has been 720644,-
139 81, being in excess Of the reduction required
by the sinking fund act 1902 2S2 933 33. The
amount of the public debt, less cash in the treas
ury Nov. 1, 1875 was 81 300, ,0S3 IS a reduc-
ton since the same date last year of S23 15O6l7-
80. The progress made durin.. the last wear in
refundng the public debt at lower rates of inter-
est Is very gratifying. The amount of per
oent. bonds sold during the present year prior
10 Nov. y, 1873, is S10J,210, 800 and per cent
bonds, commonly known as ) 20s, to an equal
amount have been, or viii be- redeemed as calls
mature. 1t has been the policy of
the dcpa; tment to place the per
cent, bonds within easy reach of every citizen
who desires 10 invest his savings. whether small
or great, IN these securities. The secretary of
the eaSury recommends that the law be So
modified that small sums may be invested, and
that through the poStofficeS or other agents of
the government. the freeSt opportunity may be
given in all parts of the country for such invest
ments. The best mode suggested is that the de-
partment be authorized to issue certificates of de-
post of the denomination of SO. bearing interest
at the rate of 65 per cent. per 8nnum, and con-
yertible at any time within one year after their
issue into the 4 per cent. bonds authorized pY
the rsfunding act. and to be issued only in Az
change for U. S. notes sent TO the treasury by
ported by suitable regulations, woald enable any
person, readily, without cost or risk, to convert
his money into an interest-bearing security
OF the United States, aad the money SO
received could be applied to the redemption OF
the per cent. bonds. The coinage of gold dur
ing the last fiscal year S52 1qS $780, the coin
age of silver dollars under the act passed Fe4.
IS. 1878. amounted to including one-third of Nov
1878, SIS. gel 455 of which amount <4.9S4e47 are
in circulation, and the balance S14S29 603 is still
in the possession of the government. With re-
gard to the act under which the coinage of silver
proceeds it has been the purpoSe of the secretary
to faithfully execute the law and TO afford fair
trial to the measure. In the present financial