The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1878-12-03

L
duly be laid before you. Our participation In
TINS International competition for the favor and
the trade OF the world may be expected TO sro-
auce usefal and important results in promoting
other nations.
The Silver Conference.
In accordance with the provisions of the
act OF February %, 1873, three commissioners
were appointed TO an International conference
on the subject of adopting common ratio
between gold and silver for tho purpose of
establishing internationally the use OF matallic
money and securing hxity of relative value
Dstween the metals Invitations were ad-
dressed TO the various governm snts which had
expressed Willingness to participate 10 its
deilDerations The conference held its meet
ings in Paris In August last. The reports of
the commissioners herewith submitted will
show its results. No common ratio between
gold and silver could be agreed upon BY the
conference. The general conclusion was
reached that it Is necessary TO maintain In the
world the monetary functions of silver as we'll
as gold, leaving the selection of the use one
or the other OF these two metals or Of both to
be made by each state.
The Halifax Award.
Congress having Appropriated at its last ses-
sion the sum of $5,500,0 900 to paw the award Of
the joint commission at Hslifax, il after cor
respondencs with the British gove rnmeut 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 COM
mission, the President shall deem 1t bis duty 10
make the payment, Communications upon
those points were addressed to the British gov
ernment through the legation of the United
States at London. Failing to obtain the con-
currence OF the British government in the views
of this government respecting the award, I
have deemed it my duty to tender the sum
named within the year fixed by the treaty. &C
companled by notice of the grounds of the
payment payment and protest against any other con-
nn 10 h r,;ll ha Iu.l Lur-
Peace in Cuba.
The Spanish governments has officially an
nonnced the termination of the insurrection In
Cuba and the restoration of peace throughout
the island. COofdent expectations are ex-
pressed of revival Of trade and prosperity
which 1t is earnestly hoped may prove we'll
founded. Numerous claims of American citi-
zens for relief for injuries or restoration of
property have been among the incidents of the
long continued hostilities. Some OF these
claims are in process of adjustment by Spain,
and the others are promised early and caveful
consideration.
Consular Treaty with Italy.
The treaty made with Italy in regard to re-
ciprocal consular privileges has been duly rati-
fed and proclaimed.
Tho Treaty with japan.
Noquestions of grave importance have aris-
en- with any other European powers. The
Japanese governments has been desirous of q
eign powers as relate to commerce and, it is
understood, has addressed to each Of the
treaty powers request to open negotiations
with that view. The United States govrrn-
ment has been inclined to regard the matter
favoraoly. Whatever restrictions upon trade
with Japan are found injurious to that people
cannot but affect lnjuriously nations holding
commercial intercourse with them. japan, af-
ter loug period of seclusion has, within the
past few years made rapid strides 10 the path
of enlightenment aud progress, and not unrea-
sonably is looking forward TO the time when
her relations with the nations of Eqrops and
America shall be assimiated to thoss which
they hold with each other A treaty looking
to this end has been made which Siil be sub
mitted for the consideration of the Senate.
Chinese Relations.
After an interval of several years the Chinese
government has again sent ENJOYS to the Unit
ed States. They have bsen received and q
permanent legation is now established here by
that governments. 1t is not doubted that this
step will be OF advantage to both nations in
promoting friendly relations and removing
causes of difference.
TIE Treaty with Samoa.
The treaty with the Samoan Islands having
been duly ratified and accepted on the part Of
both governments is now in operation and Q
survey and sounding of the ha'bor of Pogs
Pago have been made by q naval vessel Of the
United States with Q view of its occupation as
naval station if found desirable.
The kio Grands Troubles.
Since the resumption of diplomatic relations
with Mexico correspondence has been opened
and still continues between the two govern
ments upon the various questions which at one
time seemed to endanger their relations. While
no formal agreement has been reached as to the
troubles on the border much has bsen done to
repress and diminish them. The effective force
of United States troops on the Rio Grande by Q
strict and faithful compliance with instruc-
tions has done much to remove the sources Of
force of MEXICAN troops on the other sida Of the
river IS also making an energetic movement
against the maraudng interests. The govern
ment locks 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 incursors upon
our territory. Reluctant to assume any action
or attitude in the control of these incursions by
military movements across the border not i'm
peratively demanded for the protection Of the
lives and property of our own citizens, shall
take tbe earliest opportunity consistent with
the proper discharge of this plain duty to rec
ognize the ability of the Mexican government
to restrain effectively violations Of our terri
tory. 1t is proposed to hold next year an inter-
national exhibition in Mexico and it is believed
that the display of the agricultural aad manu-
featuring products of the two nations will tend
to the better understanding and increase Of
commercial Intercourse between their people.
Oiher Foreign Matters.
With Brazil and republic of Central and South
America some steps haye b5en taken toward
the development of closer commercial inter-
course Diplomatic relations have been resum-
ed with Colombia and with Bolivia. A boun-
Diary question between the Argentine R-pu-
lie and Paraguay has been submitted by those
governments for arbitration to the President
of the United States, and have after carefli ex-
malnatlon given q decision upon IL. A naval ex-
pedition up the Amazon and Madeira rivers has
brought back Information valuable both
for scientific and commercial purposes. A
like expedition is about visiting the coast Of
Africa aud the Indian Ocean. The reports Of
diplomatic and consular officers in relation to
the development of our foreign commerce have
furnished many facts that have proved of pub
lie interest, and have stimulated to prscsical
exsrtion, the enterprise of our people.
The Treasury Department.
The report of the Secretary Of the Treasury
furnishes a detailed statement of the opera
tions of that department of the government and
of the condition of the public finances. The
ordinary revenues from all sources for the fscal
year ended June 80, 1873, were S257 1853 87S.70.
The ordinary expenditures for the same period
were S236, 1854 $3.50, leaving q surplus revenue
for the year of $40, 799 551.90. Toe rece'pts for
the present fiscal year ending June 30, 1879,
actual and estimated, are as follows: Actual
receipts, for the first quarter commencing July
l, 1878, $7S,3S9, 743 43; estimated receipt. f,r
the remaining three quarters of the year, S191,-
lilo, ,2565. Total receipts for the current fiscal
year, actual and estimated, S264, 800 900. The
and estimated, as follows: For the quarter
commencing July !, 1873, actual expenditures,
S73, ,344, 57327, and fJr the remaining three
quarters of the year toe expenditures are esti-
mated at $106, ,755. .426.73, making the total ex-
penditure $40, 100, 900 aud le ,vinx an
estimated surplus revenue for the year
ending June 80, 1879, of s24, 100000
The total receipts during the next fiscal year
ending June 80, 1880 estimated according to
existing laws will be S264 100000. sad the
estimated ordinary expenditures for the same
period will be S2S6. 800, ,4l2 68. leaving surplus
of SIS, 9,5S7 80 for tnat year.
In the foregoing statements of expenditures,
actual and estimated, no amount is allowed for
the sinking fund provided for By the scs sp-
proved February 25, 1862, which requires that
one per cent. of the entire deb. OF the United
States shall be purchased or paid within each
fiscal year to bs set apart as Q sinking faud
There has bssn however substantial COM
pliance with the conditions Of the Law. By It's
terms the public debt should have been
reduced between 1862 and the close
Of the last fiscal year s51S,361 ,SO6 2S
The actual reduction of the sscsrts, ,aed DEB. in
that period has bsen S720 664, ,739 81, being in
excess of the reductiou required oy the sinking
faad act, 500, ,292, 1888. 33 The amount Of the
public deor, less Cash iu the treasury, Nov. I,
l % m 4AA aFn