The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1878-12-05


luce useful sn6 Important results, in pro-
noting intercourse, friendship, and COM &
merce with other nations.
In accordance With tbs provisions OF tbs
act OF February IS, ISIS. three commissioners
shSe on on tSe snbiset 81 Edpbtfne 4 horntbori
.aiio between gold aDq silver, Tor the pur-
pose of establishing. Internationally, the use
Of bimetallic money, and securing hxity OF
relative value between those metals. 81,
/. Invitations were addressed 20 the various /
Eovsrrulspts ~bsch haa eap.sss5j1 Filling I
ness to participate in its deliberations. The I
conference held its meetings in Paris, in Aug
nst last. The report of the commissioners, I
herewith submitted. will show its results No
common ratio between gold and silver [
fhe genEraf c5nclEsi5h 3 Is tesehhd that it
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,
to he made by each state.
Congress having appropriated az It's last
session the sum OF s. 500, 0O0 to pay the award
of the Joint Commission at Halifax, If, alter
with the British Govern:
alent On the subject OF the Conformity OF the
aware to the =, qaire,nents OF the treaty and
10 the terms OF the question THEREBY SUP,
mitted 10 the Commission, the President SHAH
deem it his djtY 10 make tie baSihent' com
IA on THESE points were address
ed 10 the British Government through the
legation OF the United states at London.
a
ish Government in the views OF this Govern
fnent respecting the awGid, have deemed le
NV duty to tender the sum named, WITHIN
the year fixed by the treaty. accompanied Dy
n l.titice OF the grounds If the pay ment, and
prots st against any other construction OF
the same. The correspondence upon THIS
subject will be laid D fore Soui M
Tie sSah'-h tsoVtiBihGnt his Official
" announced the termination OF the
insurrection in Cuba, and the res
tora,ion of peace throughout that
island. Confident eN expectations are express
ed Of a revival of trade and prosperity, which
it is earnestly hoped max prove well found
ed. Numerous ella m OF American c4tlzens
for relief for injuries or restoration OF p OPP
ertV have been among the incidents of long
continued hostilities. Some Of these claims
arc in process of adjustment by Spain, ana
the others are promised early ana carerul
consideration.
The treaty made with Italy, in regard to
reciprocal consular privileges, has been du-
ly ratified and rrQClsitited.
No duesiion5 ~ grave Importance nSYo
arisen with any othef of the European pow
ers. -.
The Japanese Government has been de-
sirous of a revision of such parts ofits treaties
with foreign powers as relate to commerce,
and, il is understood, has addressed TO eacn
of the treaty powers request 10 open neSo-
tiations with that view; The United STATES
regard the matter favorably: NEat-
ever restrictions upon trade with
Japan are found Injurious to that people can
not but affect lnluflOuSly NATIONS uoluAhS
commercial interc 1urse with them. Japan,
after II long period of seclusion, has WITHIN
the past few years made rapid strides IN the
path of enlightenment and progress, anu,
not unreasonably, is looking forward to the
time when her relations with the
nations of Europe and America
shall be assimilated TO thoss
which they hold with each other. A treaty
looking 60 this end has been nadei. when
will be submitted for the consideration OF the
Senate.
After an interval of several years, the Chi
nese Government has again sent ENJOYS 70
the United States They have been received,
and q permanent legation is now estaDllshed
here by that Government. 1t is not doubted
that this step Will be of advantage to Doth
nations in promoting friendly relations ana
removing causes of difference. The treaty
with the samoan Islands, having been duly
ratified and accepted on the part OF both
Governments, is now in operation, ana sur
yey and soundings of the harbor OF Pago-
Pago have been made by anayal vessel OF the
United States, with view of its occupation
as a naval station, ii found desirable 10 the
service.
Since the resumption of diplomatic rela-
tions with Mexico, correspondence has been
opened and still continues between the TWO
Governments upon the various questions
which at one time seemed to endanger their
relations. While no formal agreement mas
been +, aChed as to the troubles on the Dor
der much has been done to represS and di-
minish 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 dis
pute, and it is now understood that IKE
force of Mexican troops on the other side OF
the river is also making an energetic move
ment against the marauding Indian tribes
This Government looks with the greatest
satisfaction upon every evidence of strength
in the national authority of Mexico, and up
on every effort put forth to prevent or to
punish incursions upon our territory Ke'
uctant to assume any action or attitude in
the control of these incursiOns, by military
movements across the border, not impera-
lively 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 Gov
eminent to restrain effectively violations 81
our territory. 1t is pro osed to hold neX
year an In. ernatiOnal ENhi"iu IN in Mexico
and IL Is believed hat the display of tine ag-
Iiyu,turai and manufacturing products %
the two nations will tend to better under
standing and increased commercial inter
cou Sc between their people.
With Brazil, and the Republics OF Contra
and South America some steps nave Deen
| taken toward the development OF closer
| commercial intercourse. diplomatic rela
| lions have been resumed with Colombia anC
| with Bolivia. boundary question hetWeel
! the Argentine Republic and Parag1a mas
! been submitted by those Cove nm tnts tol
arbitration to the President of the United
! States, and have, after careful examination
given a decision upon it..
naval expedition up the AHt
! Zon and Madeira Rivers has brougii
/ back information valuable both for scientific
| and commercial purposes. like eXpediti0l
/ is about visiting the coast OF Africa ana th'
Indian Ocean. The reports OF dlpiomatlc am
! consular officers, in relation to the develop
ment of our foreign omE.,-rce, have iurnlsh
! ed many facts that !..ive proved OF pubic IN
/ terest, and have stimulated to practical ex
ertiOn the enterprise OF our people.
OUR NATIONAL FIN Noes.
nh Co o,-y ,f tho Trpn
! furni- hes detailed statement of the opera
! lions of that Department OF the government
/ and OF the condition of the public nnances:
/ The ordinary revenues from all sources 10
| the fiscal wear ended June 80 1873, were S25I
| 1853 $50; the ordinary expenditures tor IN
same period, were $3.50 L. 26 S'-leaNinS
surplus revenue for the year, OF S!oIJ9,o>iF'
| The receipts for the present nscal year
! ending June 30, LIS, actual and estimated
are a. follows: Actual receipts for the mrs
quarter commencing July l, 1879, S73,3e9, 1875
| estimated eceipts for the remaining three
| quarters of the year. Sl9l llO,255 81; tota
| receipts for the current fiscal Year, nc
| tual and estimated, S264 ,'COO0. IN
| expenditures for the same period VIII be, nc
| tual and estimated, IS follows; FOR IN
| quarter commencing July i, is s, actual eN
| pendilures S73, 244 ,513 p; and for the remaln
/ ing three quarters of the year, the eXpendl
I lures are estimated at 81 6,155 i26.13-lnakln
the total expenditures, $780, o. o, and leaV
| ing an estimated surplus revenue, Ior IN
I year ending June so, 1873, of 81 ,4oO,WO;
The total receipts duf1ng the next Isca
| year, ending June 30, $50, estimated accord
| ing to existing laws, will be S2f4 ,5CO,oOj; an
| the estimated ordinary expenditures, Tor IN
| same period, viii be 2}6,320, 4l26o; leaving
| surplus of SOS, l19, 5S7 81 for that year.
| In the foregoing statements OF eXpenul
| lures, actual and estimated, no amount Is a.
| lowed for the sinking fund provided for
the act approved February p, 1852 which re
| quires that one per cent. Of the entire DEBT {
| the United states shall be purchased or pal
! within each fiscal year, TO be set apart as
sinking fund. There has been, however,
substantial comp lance with the condltloL
! of the law. BY its terms, the puDlc Gel
| shout have been reduced, between Is an
the close of the last fiscal year, S5ls - Ie b2'
| the actual reduction of the asceItained De d
in that period, has been S12O654, ls9.6l DtIn
| in excess OF the reduction IL quIIed by I'll
sinking fund act-S202, 2S2 1888
The amount Of the public debt, less cas-
in the Treasury, November l, loIS, was :.
O24 200 OSs lS-a reducti N, since the same Cav
last wear, of S23, l506l7.S9.
The progress made during the last year,
reminding the public debt at lower rates
interest, is very gratifying. The amount
| per cent. bonds sold during the presel
wear prior TO November %, 1873, is SlO0,21O,9O
and per cent. bonds, commonly known I
| five-twentics, to an equal amount, nave Deel
or will be- redeemed as calls mature.
1t has been the policy of the DepaItmeI
4 to place the per cent bonds within cas-
! reach of every citizen who desires TO lnNc
his savings, whether small or great, in the'
| securities. The Secretary OF the Treasul
dc b1 the law be modified 1 n: