The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1878-12-11


pressed willingness to participat
} in its deliberations. The conferenc
held its meetings in Paris. 10 Angus
last. The report of the Commission
J ere, herewith submitted, will show it
results. No common ratio betweel
gold and silver could be agreed upor
by the conference. The general con
clusion was reached that it is neces
sary to maintain in the world the
monetary functions of silver as vel
as of gold, leaving the selection of th,
use of one or the other of these two
metals, or of both, to be made by eact
State.
THE HALIFAX AWARD
/ Congress having appropriated, a.
Its last session, the sum of s., 500, ,9O(
to pay the award of the Joint Com
mission at Halifax, il, after correspond
ence with the British Government on
the subject Of the conformity of tue
award to the requirements Of the
treaty and to the terms of the ques
lion thereby submitted to the Con-
mission. the President shall deem il
his duty to make the payment, com
munications upon these points were
addressed to the British Government
through the Legation of the United
States at London. Failing TO obtain
! the concurrence of the British Gov
ernment in the views of this Govern
ment respecting the award, l have
deemed it my duty to tender the sum
named, within the period fixed by
the treaty, accompanied by a notes
ct the grounds of the payment, and a
protest against any other construc-
tion Of the same The correspond
ence upon the subject will he laid be-
fore you.
the Spanish Government has off.
cially announced the termination of
the insurreotion in Cuba, and the re-
storaiion of peace throughout that is
land. Confident expectations are ex-
pressed of revival Of trade and
prosperity, which it is earnestly
hoped may prove well-founded. NJ
merous claims of American citizens
for relief for injuries or restoration Of
property, have been among the Incl.
dents of The long-continued hostlli-
ties Some of these claims ere in
process of adjustment by Spain, and
the others are promised early and
careful consideration.
The treaty made with Italy, in
regard to reciprocal consular privil-
eyes, has been duly ratified and pro-
claimed.
No questions of grave Importance
have arisen with any other of the
European powers
FOUR PER CENT. bonds
1t has been the policy Of the De-
partment to place the four per cent.
bonds within easy reach of every cit
izen who desires to invest his savings,
whether small or great, in such Sc
curities. The Secretary of the Treas
ury recommends tha; the law be so
modified, that small sums may be in
vested, and that through the postofii-
ces, or other agents of the Govern
ment, the freest opportunity may be
given in all parts of the country for
such investments.
The best mode suggested is, that
the Department be authorized to is
sue certificates Of deposit, of the de-
nomination of $40, bearing interest at
the rate of 3.65 per cent per snnum
and convertible at any time within
one year after their issue into the
four per cent bonds authorized by
the Refunding act, and to be issued
only in exchange for United States
notes sent to the Treasury by mail or
otherwise Such a provision of law,
supported by suitable regulations.
would enable any person readily,
without cost or risk, to convert his
money into en- interest-besring secur-
ity of the United States, and the
money so received could be applied
to the redemption of six per cent.
bonds.
GOLD AND SILVER COINAGE
The coinage of gold during the last
fiscal year was $52, $50. The
coinage of silver dollars, under the
act passed February 2s, 1878, amoun-
ted on the 23d of November, 1878,
to $40, $50, of which amount 81.
9S4, 947 is in circulation, and the re-
mainder, $l4,S29, ,603, is still in the
possession of the Government.
With views unchanged with re-
gard to the act under which the coin.
age of silver proceeds, it has been
the purpose Of the Secretary faithful.
" to execute the law, AID to afford q
fair trial to the measure.
In the present financial condition
Of the country. l am persuaded that
the welfare of legitimate business
and industry of every description
will be best promoted by abstaining
from all attempts to make radical
changes in the existing financial leg
islatiOn. Let it be understood that
during the coming year the business
of the country will be uudisturbed by
governmental interference with the
laws affecting it, and We may conf
IDENTIFY expect that the resumption Of
specie payments, which will take
place at the appointed time, will be
successfully and easily maintained,
and that it will be followed by a
bealthful and enduring revival of bust.
ness prosperity.
Let the healing influence of time,
the inherent energies of our people,
and the bouudless resources of our
country, have fair opportunity, and
relief from present difficulties will
surely follow.
THE ARMY.
The report of the Secretary Of
War shows that the army has been
well and economically supplied, that
our small force has been actively en-
ployed, and has faithfully performed
all the service required of it. The
morale of the army has improved,
and the number of desertiens has ms
terially decreased during the year.
The Secretary recommends
l. That a pension be granted tc
| the widow of the late Lieutenant
Henry Fl. Benner, 18th Infantry
who lost bis life by yellow fevel