The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1884-12-11


Bonds outstanding
-Four hat per cents. ............ 3250.0QD0O0
-Four per cents Observation-Disclosures. 737 .09J $50
Hrcc per lgi, lYo5OO
Reminding certificates. ............ 2s3 l5O
Navy pension fund. $50. ........... 100000
Total interest bearing debt. 81 lo6.147,1oo
Matured debt NEUTRALITY-SUSPICIOUS.. s9.23s,43
Debt bearing no interest
Legal tender notes. $40, 739. 300
Certificates of deposit. ............. 22,695OtO
Gold and silver certificates. eSl,0t547l
Fractional currency ................. 6,o74.279
Total without interest ......... sGsO, 424, oOe
Total debt ACKNOWLEDGEMENTS. 1,s35, 509,591
Iotal interest. '..................... lO,43s 1874
Cash in Treasury .............. 49,. 42s. 34O.7Ss
Debt less cash in Treasury........ I,4l7, 9O6 Csc
Increase during November. ...... 747l2l
Decrease since June 30.............. 32I43249
Current liabilities
Interest due and unpaid. ........... si,764,5il
Debt on which interest has ceased. Q,23S I95
Interest thereon. 49,. ................ 276,755
Gold and silver certificates. :...... 25i,OI5,47l
United States notes held for re-
demption OF certificate Of deposit 22.6o5.OoO
cash balance available. l40,350,615
Total. $i2s,alO, 7s8
Available assets
Cash in TreaS ury, ............ 42s,3IOTss
Bonds issued to Pacific Railway
Com panies. interest payable by
United States
PRINCIPAL outstanding. ............. sl.e2a.512
Interest accrued. not vet paid. ..,., 1918 587
Interest paid by United States...... G3.O99 5Oi
Interest repaid by companies
BY transportation service. .......... sIss7G O62
BY cash payments, per cent. net
earnings. ..................... 655le
Balance OF interest paid by United
btaJes..... OBSERVATION-DISCLOSURES. 43.56S,2i2
The annual report of William +.
Chandler, Secretary of tho Navy, has been
made pulic. In connection with the state
ment that three new ships had been success
fully launched the Secretary says Il has been
shown that American steel makers can read
Fly furnish excellent material for ship-build-
ing in large quantities. The Secretary points
out that comparisons Of speed between the
new cruisers and the great Transatlantic rae
ing steamers are unfair because the latter
attain their high speed only by the sacrifice OF
qualities essential 10 a ship of war and adds
that the former could Oycrtako 90 per cent. of
the merchant steamers of the world. The re-
port calls attention 90 the necessity for tor
pedo boats, and recommends the coustruc-
ton of seven modern cruisers annually for
the next ten years. Commenting on the pres
ent condition of the navy, Secretary Chand-
Ter says that the disproportion between the
expenditures therefor, and the results accom-
plished is due to the policy OF attempting at
great cost 90 rehabiLtate worn out struct-
ures under the name OF repairs. The report
recommends. the discoutnuance OF several
navy-yards ard workshops and certain i'm
provemcnts i'm the management OF the re-
maindcr, among these the exclusion of
politics, recites the history Of the recent
arctic expeditions, comments at length upon
the frauds connected with the Bureau OF
Medicine and Surgery, fxos the, ordinary
estimates at SI7,2g2 col. and those for In
creasing the navy at Sl5,o7l, 592, aud, in
conclusion, advocates Government cncour-
agemeut for the development of our mer-
chant marine either I'm the shape OF bountics
upon construction or payment tor carrying
the mails