New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1878-12-11

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States, with view Of its occcpation 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 a strict and faithful com pliance
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 against marauding Indian
tribes. This government 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 incursions upon
our territory. Reluctant to assume any action
or attitude in the control of these incursions
by military movements across the border, not
imperatively demanded for the protection of the
lives and property of our own citizens, I 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
the United States, and / have, after careful ex-
animation, given decision upon it. A naval
expedition up the Amazon and Madeira rivers
has brought back information valuable for sci
enti6c and commercial purposes. A like expe-
dition is about visiting the coast of Africa and
the Indian Ocean. 554
E# 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, 1878, were S257, 1853 SIS. 70.
The ordinary expenditures for the same period
were 1926, 1854 80. leaving surplus revenue
for the year of 500, 799, $3.50. 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, 1878, 1913, 389, 74343; estimated receipts for
the remaining three-fourths of the year, $751;
II .256.57. Total for the present fiscal year,
actual and estimated, $3.50, 100000.
The expenditures for the same period. will
be- actual and estimated, as follows: For the
quarter commencing July LIST, 1875 actual ex-
penditures, 1884, 583.27, for the remaining
three quarters of the year the expenditures are
estimated at $l66. 755: 426:73, making the total
expenditures $24O, 100, 900, and leaving an es-
timated surplus of the revenue for the year
ending June 80, 1879, of 1924, 100000.
The total receipts during the next fiscal year,
ending June 80, 1880. estimated according to
existing laws, win be 1924, 100000 and the es-
timated ordinary expenditures for the same
period will be 1926, 32O, 412.68, leaving a sur
r.
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 APP
proved February Is, 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, substantial COM
pliance with the conditions of the law. By it's
terms the public debt should have been re-
duced between 1862 and the close of the fiscal
year, $5l8, 1861. Scoops. The actual reduction of
the ascertained debt in that period has been
$72O, 644. 1851, being in excess Of the reduc-
tion required by the sinking fund act of
$203, 1872 1888. The amount of the public
debt less cash in the treasury November l.,
1878, was S2,O24, 2000S3.1S a reduction since
the same date last year of 1923, 150, 6l7.39.
gRFUNDING THE DEBT.
The progress made during the last year in re-
funding the public debt at lower rates of inter
est is very gratifying. The amount of per
cent. bonds sold during the present year, prior
to Nov. %, 1878, is $780, 300, and per cent.
bonds, commonly known as 5-2O's, to an equal
amount, have been, or will be, redeemed as
calls mature. It has been the policy of the de-
partment to place the per cent. bonds within
easy reaah of every citizen who desires to in
vest his savings, whether small or great, in
these securities. The secretary of the treasury
recommends that the law be SO modified that
small sums may be invested, and that through
the post offices or other agents Of
the government. the freest opportunity may be
given in all parts of the country for such in
vestments. The best mode suggested is that
the department be authorized to issue GER
tifcates of deposit of the denomination oe
ten dollars, bearing interest at the rate of