River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1878-12-05


appointed to international conference on
the subject of adopting common ratio be-
tween gold and silver, for the purpose of estab-
fishing, internationally, the use of bi-metalie
money and securing fxity of the relative
value between those metals. Invita-
tons were addressed to the varioua
governments which had EXPIRE ssed
a willingness TO participate in its deliberations.
The conference had it's meeting in Paris in Au-
gust last. The report of the commissioners,
herewith submitted, viii 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, we'll of gold, leaving the seIec-
ton of the use of 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 IS, 100000 to pay the award of
the joint commission at Halifax, if after cor
respondenee 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 sholl deem il 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 con-
currence of the British government in the views
of this government respecting the award,
have deemed it my duty to tender the sum
ramed within the year fixed by the treaty, ac-
companied by notice of the grounds of the
payment, and u protest against any other con-
struetion of the same. The correspondence
upon this subject will be laid before You.
CUBAN RESURRECTION.
The Spanish government has officially an
nounced the termination of the instruction in
Cuba and the restoration of peace throughout
the island. Confident expectations are ex-
pres 7ed of revival of trade and prosperity,
which it is earnestly hoped may prove well
founded. Numerous claims of American citi-
zens for relief for injuries or restoration of
property have been among the incidents of the
long-contnued hostilities. Some of these
| claims are in process of adjustment by Spain,
and the Others are promised early and careful
consideration.
FOREIGN RELATIONS.
The treaty made with Italy in regard to re-
ciprocal consular privileges has been duly rati-
fed and proclaimed. No questions of grave
Importance have arisen with any other of the
European powers.
JAPAN AND CHINA.
The Japanese government has been DESTROYS
of revision of such parts of its treaties with
foreign 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 government has been
| inclined to regard the matter favorably. What
ever restrictions upon trade with Japan are
found injurious to that people cannot but affect
in iurlously nations holding commercial in en-
course with them. Japan, after long period
of seclnsion has within the last few years made
rapid strides in the path of enlightenment and
progress, and not uureasOnably is looking for
ward to the time when her relations with the
nations of Europe and America shall be assimi-
lated to those which we hold with each other.
treaty looking to this end has been made
which will be submitted for consideration OF
| the Senate.
| After interval of several years the Chinese
government has again sent ENJOYS TO the United
States. They have been received, and a per-
manent legation is now established here by that
government. 1t is not doubted that this step
will be of advantage to both nations in pro-
noting friendly relations and removing causes
of difference.
SAMOA.
The treaty with the Samoan Islands having
been duly ratified and accepted on the part of
both governments is now in operation, and a
survey and sounding of the harbor ef Page
have been made by naval vessel of the United
States, with view of its occupation as naval
station, if found desirable to the service.
RELATIONS WITH MEXICO.
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 been
done to repress and diminish them. The
effective force of United States troops on the
Rio Grande, by strict and faithful compliance
with instructions, has done much to remove
the sources of dispute, and it is now under
stood that like force of Mexican troops on
the other side of the river is also making an
energetic movement aga inst marauding Indian
tribes. This govern nent looks with
the greatest satisfaction upon every
evidence of strength in the national
authority of Mexico, and upon every effort put
forth to prevent or to punish ineursions 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 opportunity consistent with
the proper discharge of this plain duty to
recognize the ability of the Mexican govern
ment to restrain, effectively, the violations of
our territory.
1t is proposed to hold, next year, an interna-
tional exhibition in Mexico and it is believed
that the display of the agricultural and manu-
featuring products of the two nations will
tend to a better understanding and increased
commercial interests between their people.
SOUTH AMERICAN COUNTRIES.
With Brazil, and the republics of Central and
South America, some steps have been taken
toward the development of closer commercial
intercourse. Diplomatic relations have been
resumed with Columbia and Bolivia. A bound
airy question between the Argentine republic
and Paraguay has been submitted by those
governments for arbitration to the President of
Tx 4 4
animation. given decision upon it. A naval
expedition up the Amazon and Madeira rivers
has brought back information valuable for sci
entifc and commercial purposes. like expe-
dition is about visiting the coast of Africa and
the Indian Ocean.
FOREIGN COMMERCE.
The reports of diplomatic and consular off
GERS relative to the development Of our foreign
commerce here, furnished many facts that have
proved of public interest and have stimulated
to practical exertion the enterprise of our
people.
THE TREASURY.
The report of the secretary of the treasury
furnishes detailed statement of the operations
of that department of the government and of
the condition of the public finances. The or
binary revenues from all sources for the fiscal
year ended June 80, 1875 were S257, 763, S7S.7
The ordinary expenditures for the same period
were $236,964, 320.S0. leaving surplus revenue
for the year of 500 799, 55l 80. The receipts
for the present fiscal year ending June 80 1879,
actual and estimated, are as follows: Actual
receipts for the first quarter, commencing July
l, 1873, S73, 1889, 743.43; estimated receipts for
the remaining three-fourths of the year. $751;
1l0,256.57. Total for the present fiscal year.
actual and estimated, 1901 800, 600.
The expenditures for the same period, will
be, actual and estimated, as follows For the
quarter commencing July LIST, 1873, actual OK
penditures, $73. 344, 5S3.27, for the remaining
three quarters of the year the expenditures are
estimated at S166, 755. 4Z6.73, making the total
expenditures 81, 40l, 10000, and leaving an es-
timated surplus of the revenue for the year
ending June 30 1879, of S244, 10000.
The total receipts during the next fiscal year,
ending June 30, 1880, estimated according to
existing laws, viii be 526i, 500, coo and the es-
timated ordinary expenditures for the same
period viii be $3.50, 4l26S, leaving q sur
plus of S28, 179, 557.32 for that year.
THE PUBLIC DEBT.
In the foregoing statements of expenditures,
actual and estimated, no amount is allowed for
the sinking funds provided for by the act ap-
proved February %, 1862 which requires that
/ per cent. of the entire 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 COM |
pliance with the conditions of the law. By its |
terms the public debt should have been re- |
duced between 1862 and the close of the fiscal |
year, S518, 1861, S06.2S. The actual reduction of
the ascertained debt in that period has been |
S720 GA. 1881. being in excess of the reduc- |
tion required by the sinking fund act of |
@2n3 2S2 q33 23 The amount of the ,uhfic 1