The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1882-12-07

ACLu hu lOnBCEc AIcuu6 OVcT IL FuOl6 U6IIlLOIyt
and In the event Of our interference to dictate
peace would need to be supplemented by the armies
and navies of the United States. Such interfer-
enee would almost inevitably lead to the estab-
lishment of a protectorate.
A result utterly at odds with our past policy, in
furious to our present interests and full of embar-
easements for the future, for ~efecting the termina-
ton OF hostilities upon terms at once just to the
victorious nation and generous to its adversaries,
this Government has spared no efforts, save such
as might involve the complications which have
indicated, 1t is greatly to be deplored that Chill
seems resolved to exact such rigorous conditions of
peace, and is indisposed to submit to arbitration
the terms of an amfcable settlement. No peace is
BILE and just to command the approval of other
nations. About a year since invitations were
extended to the nations OF the continent TO send
representative to a Peace Congress to assemble at
Washington in November, 1882. The time of
meeting was fxed at a period then remote, in the
hope, as the invitation itself declared, that in the
meantime the disturbances between the South
American Republics would be adjusted, as that
expectation seemed unlikely to be realized. 1
asked in April last for an expression of opinion
from the two Houses of Congress as to the adj
visibility of holding the proposed conven-
ton atthe time appointed. The action was prompt
ed in part by doubts which mature reflection had
suggested, whether the diplomatic range and ira
ditions of the Government did not make it fitting
that the Executive should consult the Representa-
ives of the people before pursuing a line of policy
somewhat novelin its character and far-reaching
in its possible consequences. In view of the fact
that no action was taken by Congress in the prem
Uses, and that no provision had been made for
postpone the convention, and so notified the sew
eral Governments which had been invited to at
tend. am unwilling to dismiss this subject with
out assuring you OF my support OF any measures
that the wisdom of Congress may devise for the
promotion of peace on this continent and through
out the world, and l trust that the time is nigh,
when, with the universal assent of civilized peo-
pie, all international differences shall be de-
t SeaamIdinned without resort to arms By the
have occurred in the diplomatic representation
OF sever Il foreign powers during the past year. New
ministers from the ARGENTINE Republic, Austria,
Hungary, Brazil, Chill, China, France, Japan,
Mexico, tbs Netherlands and Russia have pre-
sented their c. edent ais. The missions of DENIM .rk
and Venezu, la at this c apital have been raised in
grade. Sw 'tzerland has created a Plenipoientary
MISSION to this Goynrnment, and an r. 6sssy from
arrive Our d pl matte intercourse has been en-
lareed by the ESTABLISHING t of relations with the
sion to Siam, and by the restoration of the mission
to Or zee. The Shah II of Persia has expressed his
qualification that a Charge d'Affairs will shortly be
sent to that country, where the rights of our citi-
zeus have been hitherto constantly guarded by the
reprsse 1~tativ.s of Great Brit in.
l renew my recommendation of such legislation
as will place the United States in harmony with
other maritime powers with respect to the inter-
national rules for the prevention of collisions at
sea.
In conformity with your joint resolution of the
Sd of August last, l have directed the Secretary of
State to address foreign Governments in respect to
a proposed co ference for considering the subject of
the universal adoption of a common prime merid-
ian, to be used in the reckoning of longitude, and
in the regulation of time throughout the civilized
world. Their replies will in due time be laid be-
fore you.
An agreement was reached in Paris in 1875, be-
tween the principal Powers, for the interchange of
official publications through the medium of their
respective Foreign Departments. The admirable
system which has been built up by the enterprise
of the Smithsonian Institution affords a practical
basil for our cooperation in this scheme, and an
arrangement has been effected by which that Insti-
tuition will perform the necessary labor under the
direction of the Department of State. A reason
able compensation therefor should be provided by
law.
A clause in the act making appropriations for
the reorganization of both branches of such SER
vice on a salary basis, leaving fees to inure to the
benefit of the Treasury. I~cordially favor such a
project as likely to correct abuses in the present
system. The Secretary of State will present to
you at an early day a plan for such reorganization.
A full and interesting exhibit of the operations of
the Treasury Department is afforded by the report
of the Secretary.
REVENUES FROM ALL SOURCES.
1t appears that the ordinary revenues from all
sources for the fiscal year ending June 80, 1882
were as follows: From customs, 1920, 40, 100 25;
from Internal Revenue, STAG, 497, 595. As; from sales
I'll Pu and d ispSsI 81 81 tx Sa afG;sai f Banks sa s On s5s ei 1sa "a:
from repayment Of interest by Pacific Railway
Companies; sS,olS54$7; from sinking ing fund i
from customs fees, fines, penalties, etc, $685.
34s co; from fees, Consular letters patents and
bonds, S2,63S, $780,; from proceeds of sales Of
Government property, 1914, 59.s5; from profits on
coinage bullion, deposits and assays, SAL 6,693. 10;
from Indian trust funds, S., 7O5, 2t3. 2;from deposits
by individuals for surveying public lands, S2,052,-
BOG. SO; from revenues OF the District of Columbia,
81, 715, 176 Al from miscellaneous sources, S., $685.
1888; total ordinary receipts, S403, 525, 250.2s.
EXPENDITURES.
The ordinary expenditures for the same period
were: For civil expenses, SIS, O42 1856. 40; for for
eign intercourse, 81, 1897, $50. 1y; for Indians, IS, 1885,
7474o; for pensions, SCI, 345, 1895; for the mill
tary establishment, including river and harbor
improvements and arsenal, S43,570 1919; for the
naval establishment including vessels, machinery
for miscellaneous expenditures, including public
buildings, light houses and collecting the revenue,
SSi,5S9 2S7 so; for expenditures on account of the
the public debt, 81 OF. 2O6. 70; total ordinary ex-
penditures. s257 9sl 1875 leaving a surplus rev.
enue of s145, 54a, $40. II, which, with an amount
drawn from the cash balance in the Treasury of
SO, 7S7, 694.s4 making $3.50, 2s1, sos, was applied to
the redemption of bonds; for the sinking Fund $780,
$50; of fractional currency for the Sinking Fund,
IS, 705, 553; of loan of July and August, 1861, S62,-
572, $50 loan of March, 1868, 81, AZ, 900; Of funded
loan Of February, ISL, es 600: Of aa %ye,tw S1Gies Of Of
1852, 2 Zoo; of fve-twenties of 1864, s7,4OO; of FIVE
$50; of consols of 1868, $50, $50; of consols of 1857,
S40s, $50; of consols of 1865, Sill 400; of Oregon war
debt, S6l5,25O; OF old demand compound interest
and other notes, SlS,S5o, Total, s166 PSI ,505.55.
FOREIGN COMMERCE.
The foreign commerce of the United States dur
ing the last fiscal year including importsand ex-
ports of merchandise and specie, was as follows:
EAports o,lo9,l5l
Ii4,Z0l,uoo
Excess of exports over imports...s 25, sO2, $50
This excess is less than it has been before any
of the previous six years, as appears by the follow
ing table: Year ended June, excess of exports
over imports Of merchandise-1s76, S79, 643, 4s1:
1877, Sl51 49,, 094; 1878, 1881, ,23i; 1873, s264,-
1882, 25,9o2,fs3.
NATIONAL BANKS.
During the year there have been organized III
National banks, and If these institutions there are
now in operation 2 ,269, a larger number than ever
before. The value of their notes in active circu-
lation on July l, 1892, was 1924 $50, 45S. I COM
mend to your attention the secretary's views in
this circulation, and to the modes by which that
result may, in his judgment, be averted.
COINAGE OF SILVER.
In respect to the coinage of silver dollars and
the retirement of silver certificates, 1 have seen
nothing to alter, but much to confirm the senti-
ments to which 1 gave expression last year. A
comparison between the respective amounts of sill
yer dollar circulation on November 1, 1881, and on
November 1, 1882, shows Q slight increase of a
million and a half of dollars; but during the inter
val there had been in the whole number coined an
increase of $26, 0Oo,0 900 of the s12s, J0O, 600 thus far
minted.
CIRCULATION.
Little more than So ,OGo 600 are in circulation.
The mass of accumulated coin has grown so great
that the vault-room at present available for
storage is scarcely sufficient to contain it. 1t is
not apparent why it is desirable to continue this
coinage now so enormously in excess of the public
demand. Asst 10 the silvercertifcates in addition
to the grounds which seemed last year to qualify
their retirement, may be mentioned the effect
which is ikely to ensue from the supply of gold
e U blC OOuHFeSS TeCSullV
made provisions, and which are now in active cir
~culation.
You can not fail to note with interest the discus
sion by the Secretary as to the necessity of pro-
viding by legislation some mode of freeing the
Treasury of an excess of assets. In the event that
Congress fails to reach an early agreement for the
reduction of taxation, l heartily approve the Sec
retary's recommendation of immediate and extern
sive reductions in the annual revenues of the Gov
eminent.
TAXATION.
It will be remembered that I urged upon the
attention of Co gress at it's last session the impor-
lance of relieving the industry and enterprise of
the country firm the pressure from unnecessary
taxation. 1t is one of the tritest m kim of politi-
ca economy that all taxes are burdensome.
However W sely AID prudently disposed, ard
though there have always been among our people
wide difference of eminent as to the best methods
Of raising the national revenue, and indeed as to
the principles upon which taXstiou should be
based, there has been substantial accord in the
doctrine that only such taxes on hit to be levied as
are necessary for a wise and economical admins
tration of government. OF late the public revenues
have far exceeded that limit, aud unless checsed
by appropriate LEGISLATION, such excess will con-
tinue to increase from year to year. For the fiscal
year ended June 80 SS1, the surplus revenue