Little Falls transcript. [volume] (Little Falls, Morrison County, Minn.) 1876-1894, 1878-12-05

le termnatlo0 OF the msurTectlon IN CuDa anu tAe |
estoration Of peace throughout the island. Conf
emit expectations are expressed Of revival of trade
nd 1t issarnastly hoped may pznKe
,ell founded. Numerous CLAIMS Of American cid-
for relief injuries restoration Of property
ave been among the incidents of the long continued
ostilides. Some Of these claims are in process Of
djustment by Spain and tho others are promised
irly and careful Considerations. 49, 4
# FOREIGN RELATIONS. N$: 81
The treaty made with Italy in regard to reciprocal
consular privileges has been duly ratified and pro-
laimed. No, questions Of grave importance have
risen 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
,owers relate to commerce and It. ,is understood
las addressed to each of the treaty powers request
States government has been inclined to regard the
natter favorably.. q" Whatever restrictions upon
rade with Japan are found injurious to that people
,annot but affect injuriously nations holding COM
nercial intercourse with them.f Japan, after long
period OF secluson, has within the last few years
made rapid strides in the path Of enlightenment and
progress and not unreasonaby is looking forward to
he time when her relations with the nations OF
Europe and America shall be assimilated to those
which they hold with each other. A treaty looking to
his end has been made which will be submitted for
consideration of the Senate. i'm
After an interval Of several years the Chinese gov
has again sent ENJOYS to the United States
They have been received and permanent legation is
now established here by that government. 1t is not
nations in promoting friendly relations and removing
causes Of difference.
The treaty with the Samoan Islands having been
duly ratified and accepted on part of both govern
ments Is now in operation, and survey and sound
ngs of the harbor of Pago have been made by naval
vessel of the United States with view of its occupa
ton naval station, if found desirable to the
service. -''-' '--'3l
RELATIONS WITH MEXICO.
Since the resumption of diplomatic relations with
Mexico, correspondence has been opened and still
various questions which at one time seemed to en-
danger their relations. While ne 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 the
Rio Grande, by a strict and faithful compliance
with Instructions, has done much to remove the
sources of dispute, and it is now understood that
like force of Mexican troops the other side of the
rs ooks
evidence Of strength in the national
to prevent to punish incursions upon our terri
tory. Reluctant 10 assume any action or attitude i'll
the control of these incursions by military move
ments across the border, not imperatvely demanded
for the protection Of the lives and property of our
own citizens, shall take the earliest o. portunity
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, international
exhibition in Mexico and it is believed that tho dis
Of the two nations will tend to 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. Dip,
lomatc relations have been resumed with Columbia
and Bolivia. boundary question between the
Argentine republic and Paraguay has been submitted
by those governments for arbitration to the President
of the United States, and have, after careful
animation, given decision upon 1t. naval ex-
petition up the Amazon and Madeira rivers has
commercial purposes. like expedition is about
visiting the coast of Africa and the Indian Ocean.
FOREIGN COMMERCE..
The reports of diplomatic and consular officers
relative to the development Of foreign commerce
here, furnished many facts that have proved of pub
lie interest and have stimulated to practical ex eron
the enterprise Of our people.
THE TREASURY.
The report of the secretary of the treasury fur
nshes detailed statement of the operations of that
department of the government and of the condition
of the public finances. The ordinary revenues from
all sources for the fiscal year ended June 80, 1873
were S2s7 1853 $3.50. The ordinary expenditures foz
the period S236, 1854 ,326.S0, leaving sur
plus revenue for the year Of $2O 80. The re-
cepts for the present fiscal year ending june 3d. 1879
actual and estimated, as follows: Actual receipts
for the first quarter commencing July l, 1873
$73 $685. estimated receipts for the remaining
three-fourths of the year, S191 No. 256.57. Total fol-
the present fiscal year, actual and estimated, $780,
100000.
Tho for he i01 will 1a
actual and estimated, as follows: For the quarter
commencing July LIST, 1875 actual expenditures
1921, for the remaining three quarters OF
the year the expenditures are estimated at $l66,
755 making the total expenditures 50 401 100000
and leaving estimated surplus of the revenue fol
the year ending June 80, 1879, of S244, 10000.
The total receipts during the next fiscal year, end
ing June 80, 1880, estimated according to existing
laws, will be 1864 0O0 and the estimated ordinary
expenditures for the same period will be $236, $780,
412.6s, leaving surplus Of $28179,5S732 for that
year.
THE PUBLIC DEBT.
In the foregoing statements of expenditures actua
and estimated, amount is allowed for the sinking
funds provided for the act app roved February 25
1862 which requires that one per cent. of the entire
debt of the United States shall be purchased or paid
within each fiscal year to be set apart as sinking
fund. There has been, however, a substantial COM
pance with the conditions Of the law. By it's terms
the pubic debt should have been reduced between
1862 and the close of the fiscal year 1913 8o6
"
period has been $720,644 1891, being in excess OF
the reduction required by the sinking fund act OF
S203 282 49, The amount of the public debt less
cash in the treasury November 1875 was S2O24, 200
O83 10, reduction since the same date last year. OF
1913, 150, SIT 80.
REFuND4NG THE DEBT.
The progress made during the last year in refund
ing the public debt at lower rates Of interest is very
gratifying. The amount of 4 per cent. bonds sold
during the present year prior to Nov. %, 1878,
$100, 800, and per cect. bonds, commonly
known as 5:20's, to an equal amount have been OF
viii be redeemed as calls mature. It has been the
policy Of the department to place the per cent
bonds within easy reach Of every citizen who desires
to invest his savings whether small great in these
securities: The secretary of the treasury recon-.
mends that the law be SO modified that
small sums may be invested and that through
the the rees sy be Given
in all parts Of the country for such Investments The
best mode suggested is that the department be all.
thorzed to issue certificates of deposit Of the demon
nation Of ten dollars bearing interest at the rate
IS per cent, per annum, convertible at any time
within year after their issue into per cent. bonds
authorized by the refunding act, and to be issued
treasury by mail, or otherwise. Such provision OF
law supported by suitable regulation, would enable
any person readily, without cost or risk, to convert
his money into an interest bearing security Of the
United States. and the money so received could be
applied to the redemption of per cent. bonds.
The coinage of gold during the last fiscal year
was $52669 $3.50; the coinage of silver dollars, under
the act passed July %, 1873, amounted, the 23d
of Now, 1878, to $l9,814 $50, of which amount 3d.
984 9 are in circulation, and the balance, $14 1923
$685. is still in the possession of the government.
49, SPECIE RESUMPTION.
With views unchanged with regard to the act under
which the coinage of silver proceeds it has been the
purpose of the secretary faithfully to execute law
and to afford fair trial to the measure In the pres
ent financial condition of the country am persuad.
ed that the welfare of legitimate business and indus
try of every description will be best promoted by alb
staining from all attempts to make radical changes
in the existing financial legislation. Let it be
understood, that, during the coming year, the
business of the country will be unGisturbed by in.
reference with tn, laws affecting it, and we may
confidently 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 healthful and enduring
revival of business prosperity. Let the healing in.
duence of time, the inherent energies Of people
and the bound1ess resources of our country have Q
fair opportunity, and relief from present difficulties
will surely follow. .-.:.
OUR 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 employed and has
faithfully performed all the service required Of it.
The morale of the army has improved, and the mum
Der OF assertions has materially decreased during the
year. The secretary recommends that pension be