Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1880-12-11

now i,esn urepared, and subsequent issues
may regularly be expected. Inc importance
and interest attached 10 the reports oil consular
Ulcers are witnessed by the general demand for
Them by all classes OF merchants anu nlanuiactu,
yers engaged In our foreign trade. IL Is ociiefea
that the system OF such lubiica'1Sntis aesetsins
of tie aui,royal of congress and that the neces-
sary appropriations for MS continuance anu
viii Ommsnd itself 10 your e9nsiue!.
alton. The prosperous energies OF ~, tie
and their immense production oi me
oil foreign commerce., invite anu even
an active Development OF the WISHES ahn
OF our peo Jle in that direction.
Especially important Is it thar our comnnefclai
with the Atlantic and Paciic co ISIS o.
South Americn, with the west inu' ea, ,hr,ugb
the circuieof European systems, and sheuiu ne
carried on IN our own bottoms. Inc luii api,reor "a
ton vi the opportunities which our 'front.' !" .n'
Pacific ocean gives to Win japan;
China and the East Indies, with Australia anu
the island groups which lie alo lg these routes OF
should inspire efforts 10 aprropi tu m,
to our own shipping and to administer by our
own capita u due proportion or tnis traue:
Whatever notifications of cur regulations 81
trade aud navigation may be necessary or useIu'
to meet and direct these impulses TO the shlaIhe-
msnt of our exchanges and oil our carry
trade, l am sure the wisdom OF congress Will be
ready to supply.
so clearly useful and efficient that venture 10
press it upon Your earnest atteption. II seems
10 be very evident that the provision Oh lusu, -.
steam postal communication by ald from the
government has been the iOrerunner oil the CON,
Inercial p~redomInence OF Great Britain on ui
these coasts and seas, II greater share In whose
trade Is now the desire and the intent oil our
people 1t is also manifest that the eu>rts o.
other European nations to contend with Great
for u share Of this nave pe-h
successful in proportion with their adoption OF
steam postal communications Win ths
markets whose trade they sought. Mexico ana
the states of South America are anxious to re
ccive such postal communications with thlis
country and to aid in their development. SIM
liar cooperation may lie looked for in due time
from tie eastern nations and from Australia
1t is difficult to see how the lead IN this move
ment cin be expected from private interests.
In respect TO foreign commerce., quite as much
AS in internal trade, postal COMMUNICATION
seems necessarily a matter of common and pub
lie administration, and thus pertaining to the
government. respectfully recommend to your
prompt attention such just and efficient measures
as may conIuce to the development of our for
eign commercial exchanges, and the building
up OF Our carrying trade.
In this connection | desire also to suggest the
very great services which might be expected in
charging and facilitating our In the
Pacific ocean were 4 trans-marIne chbie inld
from San Francisco to the Sandwich Islands,
and thence To Japan ut the north and Australia
at the south, and the great influence OF such
means OF communication on these routes OF
navigation in developing and securing the due
share of our Pacific coast in the of the
world needs no illustration or enforcement IL
may be that such un enterprise, useful. and In
the end pi ohtuble, as it would prove 10 private
may need to bs accelerated by
legislation by congress in its aid, and
l submit the matter to your Careful consiocfa-
ton.
An additional and not unImpsrtant, although
secondary. reason for fostering and enlarg!ng
the navy may be found in the unquestionable
service to the expansion of our commerce,
which would be rendered by the frequent circu-
latien Of naval ships In the seas and ports Of all
quarters of the globe. Ships Ct the proper con-
s,ructlOn and equipment to be oil the Sreates'
efhci. ncy in case OF maritime war might be maue
constant and active agents IN time OF peace. In
the advancement and protection OF our foreign
t~.I- - ska sta .,r.l mo nf ann
seamen who would naturally, In some numbers,
mix with and improve The crews OF our merchant
ships. Our merchants ut home and abroad
recognize the value TO foreign commerce Oh an
active movement of our naval vessels, ana the
Intelligence and patriotic zeal OF our naval
officers IN promoting every interest OF then
cOuntrymen, is u just subject OF national pride
The condition OF the financial affairs oil Inc
government. as shown by the report OF the sec
rotary oil the treasury, Is very satisfactory. II
is believed that the present financial situation oil
the United States, whether considered Win re-
spect to currency, trade or credit. growing
wealth or the extent and variety OF our re-
other country Of our time, and has never been
surpassed by that OF any country ut any period
OF Its history All our industries are.thriving,
the rate OF interest is low; new railroads are
being constructedi and a vast immigration l.
increasing our population, labor and capital.
New enterprises in great numbers are in progress
and our commercial relations with other coun-
ties are improving. The ordinary revenues
from all sources for the h-cel year ending June
80: 1880 wers: From customs siss o Sss Is esi So 60
from sales on pablo lands SOl5, 3OG q.
tax on the circulation and deposits of national
banks. 81. Ul4 81 II; from repayment of inter-
est by the Pacific railway companies 81 ,7OI. :
S67 ID; from sinking funds for Pacific railway
c 'mpanies, 1856 ,62l 81; from customs. fees,
consular letters. patents and lands, 81. 81. Os9;
from proceeds of sales of government property,
1872, Gl6 30; from profits on coinage. etc Z, 81,
~. Is5 Is: from revenues of the District Of Co
81 2rQ 1SQ IN. from nIsrtIl4nRnn
sources, 81, 1893, 5o3 IS; total ordinary receipts,
1888 526 $40 50.
The ordinary expenditures for the same period
were ST.. 6s3 .o93 81; for foreign int-rc 'urse,
pensions, including Si9, 34l OPS 20 arrears OF
pensions. SIS III ,l14.44 Tor military establish
ment, including river and harEor improVem MS
and arsenals. S35, ll6. GIG %; tor the naval esrab-
lishment, Including vessels, machinery and i'm
p.Ovements in ths navy yards, Sl3 536. sS4 "A
f'r miscellaneous expenditures, including pub
enne. s34, 535 69l 60; tor expenditures on account
Of the District OF Columbia. So, 272 1854 81; fol
interest on public debt. SIS, ISL .5I5 ii; fol
premiuHl on bonds purchased, 81, 195 80 II; to-
ial ordiaary expenditures. ssf7 .6f2 .957 10; lelv-
ing Il surplus revenue Of SIS, SS3 $50 20, which
with the amount drawn from the cash bilan"e
in the treasury of 90, 0o4, i3i Il, making S13.
s6s, 0s7 Il that was applied to the redemption oil
bonds; Tor the sinking fund. 81, So 800; for re
demption of fractional currency. S25l Ill Al
Tor the loan of 1853, $40, coo; Tor the temporary
loan, SIG. COO; for bounty land scrip, 81 500; fo'
compound interest notes, SIC .aUG; for 80 notes
of 1864 ). 81 $50; for one and two year notes,
S3, 700; for old demand nore5, 81 495. Total
1913. 96s, 0s7 Al The amount due the sinking tunC
this year WAS $S7 .93I .643 81. There was applied
thereto the SUN Of s13, 1914 Gil Al. b ing S35.
from all sources during the fiscal year ending
June 80, 1880. was sssi, '2s $40 as-an increase
receipts thus Tar OF the current year. together
with the estimated receipt, for the remainder o
the year amount 10 $3.50, O0O. 900, which will b'
sufficient 20 meet the eetiIp atel expenditures o
the year and leave a surplus Of S9G. OG0 600.
1t is fortunate til 1t this large surplus OF reve
nue. occurs at u period when 1t may be dlrectl,
to lie rei,amable;; No public duty has beel
more constantly cherished in the United State
than the policy Of paying the %natlon's debt a
rapidly rs possible. The debt OF the Unltet
sive of accruing interest, attained its maximum
s 2,756, 43l ,5ll 4s in Augu,t 1865. and has since tina
principal of the debt SlOs ,755, 100 has been pal,
since March l. ISL. efecting an annual savini
of interest Of Sc, lU7 1888 The burden OF interes
has also bcsn aIihiHiehed by the sale of bond
of the proceeds to the redemption of bond
bearing Il higher rate. The annual saving thu
secured since March |. 1877, is 81. 800, 453 50
| Within a short period over six hundred million
Of five and SIX per cent. bonds will BECOME re
! deemabie. This presents q very favorable op
| portunity not only to further reduce the primer
PHI VI liz utots bul ais ~ S'tuC latC "
interest on that which will remain unpaid.
call the attention OF congress to the views eN
p.assed on this subject by the secretary Of III
treasury in his annual report, snd recGIn1Icn
prompt legislation to enable the treasury de
partment 10 complete the rcfunding of the deb
which is about to mature. The continuance {
endangered sine the date OF on. 1t M
contributed greatly to the revival OF cuisines:
and to orr remarkable prosperity. The lem
that preceded and sscO mpunied resiiinutIn
have DfpyPu prCuutlf,a No EDnsIt,rlD
amount OF United States notes haze been pr,
sen,ad fer redemption, while very large sums
gold bullion, both dCneGtii and imported, n
taken to the minis and exchanged tor coin
notes. The increase OF coin and bullion in Ii
United statcs since January l, 1879, is estimat,
ut S2l1 $50 l2o-
There are still in existence, uncanccle,
S3iG ISL .0i6 OF United States legal tender note
Thgse notes were authorized us Il war measur
maize necessary by the exeg-ncies Of the COZ
nict III which the United Stuiss were then ei
gagged. The preservation of the nations axis
encc required, in the judgment OF congress,
ISSUE OF legal tender paper money. That
served well the purpose Tor which IL was creatI
IL rpt questioned, but the employment OF 4
notes rs paper money Indefinitely, after the Il
cGmplishmen Of the object for which they we
provided. was not contemplated by the frame
Of the law un'i-l which they we.e ISSUE
These notes long since BECAME like amy 9th
pecuninry obligation of the lie
- he paid anu, when pai,i. 10 be Cancelled
mere evid, nee of an indebtedness no longer T.
listing. | therefore repeat what WAS said in I
t annual message OF last year. that the retIreIur
from circEiatIon OF United States noes, with [
| capacity al legal tender N private contracts,
Ii step to be taken in our progress Ia" srt u =.
ana! stable Eurrency, WHICH should lie accept
| as the pnticy and duty III the g5.-rni.,eHt 1t
the interest and security OF ihr people.
At the time of the passage of the act now
: force requiring the coinage Of silver dollar
fixing Their vaiue and giving them legal tenG
! character. IT WAS believed by maay OF the su
l pu;ters OF the measure that The silver doll,
I which II authorized would spprllly brr,n