Milford chronicle., 1889-12-06

/ ssity 70 carry out treaty stlpulOtons m that re
\ gard.
The friendliness Of the Persian government con
/ tinues to be shown by its generous treatment Of
/ Americans engaged In missionary labors, and by
the cordial disposition Of the shah to encourage
| the enterprise of our citizens In the development
/ Of Persian resources
A discussion is in progress touching the iuris-
dictional treaty rights OF the United States in
Turkey. An earnest effort will be made TO define
/ those rights to the satisfaction Of both govern
ments.
Naturalizsd Citizens.
Questions continue to arise in our relations with
several countries in respect to the rights of nat
liralizcd citizens Especially is this the case with
France, Italy, Russia and Turkey, and 10 a less
extent with Switzerland From time 10 time
earnest efforts have been made to regulate this
subject by conventions with those countries. An
improper use of naturalization should not be per
mttcd but il is most important that those who
have been duly naturalized should everywhere be
accorded recognition Of the rights pertaining TO
the citizenship Of the country OF their adoption.
The appropriateness Of special conventions for
that purpose is recognized in treaties which this
government has concluded with a number OF
European states, and it is advisable that the diff
culties which arise in our relations with other
countries on the same subject should be similarly
adjusted
The Brazilian Revolution.
The recent revolution in Brazil In favor Of the
establishment Of a republican form Of govern
ment is an event of great interest 70 the United
States. Our minister at Rio dc Janeiro was at
once instructed to maintain friendly diplomatic
relations with the provisional government and
the Brazilian representatives at this capital were
instructed by the provisional government to con
tinue their functions. Our friendly intercourse
with Brazil has, therefore, suffered no Interrupt
ton
Our minister has been further instructed to ex-
tend ON the part Of this government formal and
cordial recognition Of the new republic so soon as
the majority Of the people OF Brazil shall have
signilied their assent 70 its establishment and
maintenance.
Within our own borders a general condition Of
prosperity prevails The harvests OF the last
summer were exceptionally abundant and the
trade conditions now prevailing seem to promise
a successful season to the merchant and tine man.
ufacturer. and general employment to our work
ing people
Our Financial Condition.
The report OF the secretary OF the treasury for
the fiscal year ending June 80. 1880 has been pre-.
pared, and will be presented to Congress. It pre- |
sents with clearuess the fiscal operations Of the /
government and avail myself Of it to obtain |
some facts for use here.
The aggregate receipts from all sources for the |
year were S3s7 $50, ,05sS4, derived as follows:
From customs. .......-...........s ss3 S'2 al. GO
From internal revenue. ............ 1870 sSi 513 %
From miscellaneous sources ....... 81 335, S03 D
The ordinary expenditures for the same period
were S2Sl ,996 90, and the total expenditures
including the sinking fund, were S329, SO 929 25
The excess OF receipts over expenditures was
after providing for the sinking fund S57 40 i29 So
For the current fiscal year the total revenues
actual and estimated are $685. COO OOO and the or
binary expenditures, actual and estimated, are
S2l3 100000, making with the sinking fund a
total expenditure Of s3f1, ,S2f. 1864 90 leaving an
surplus Of S43,67S sSS3 OF.
Purchase of Bonds.
During the fiscal year there was applied to the
purchase of bonds, in addition to those for the
sinking fund Sgl 456 i52 35, and during the first
luarter OF the current year the sum Of S87, ,S3s,-
l3s.15, all Of which were credited to the sinking
und. The revenues for the fiscal year ending
Tue 30 1891. are estimated by the treasury de.
lartmeut at S3S5, ,oO0O1O and the expenditures
or the same period, including the siukin, fund.
lt ssh 430.l771O. This shows an estimated sur.
,his gor that year of Sl3,569, 522 30 which is more
likely TO be increased than reduced when the
ctual transactions are written up
The existence OF so large an actual and antiei-
latei surplus should have the immediate atten.
ION Of congress, with a view 10 reducing the re-
eipts Of the treasury TO the needs OF the govern.
nent as closely as may be. The collection of
noneys not needed for public uses imposes an
Unnecessary burden upon our people and the
presence of SO large surplus in the public vanlts
usiness It has called into use expedients for
'utting il into circulation of very questionable
roprety.- We should not collect revenue for
he purpose Of anticipating our bonds beyond
he requirements Of the sinking fund.- but any
uappropriated surplus in the treasury should be
o used there Is no other lawful way Of re-
uiniug the money to circulation, and the profit
ealized by the government offers a substantial
dvantage.
Loaning Public Funds to Banks. l
The loaning Of public funds to the banks with. {
ut interest, upon the security Of government {
ouds, regard as an unauthorized and dangerous &
xpedient. II results in a temporary and IN. a
atural increase Of the banking capital of favored
,calites and compels a cautions and gradual re c
all Of the deposits 10 avoid injury to the com.
iercial interests It is not to be expected that /
ne banks having these deposits will sell their a
onds TO the treasury 50 long as the present high n
beneficial arrangement is continued They now a
ractically get interest both upon the bonds and p
leir proceeds No further use should he made a
this method of getting the surplus into circula L
on, and the deposits now outstanding should be s.
radualy withdrawn and applied TO the purchase C
7 bonds It is fortunate that such a use can be-
ade OF the existing surplus, and for some time Il
come OF any casual surplus that may exist ST
ter congress has taken the necessary steps for C
duction of the revenue. Such legislation should v
? promptly, but very considerably, enacted a
Tariff Revision Recommended.
recommend a revision Of our tariff law, both in Il
S administrative features and in the schedules | ~
he need of the former is generally conceded Ia
I'd an agreement upon the evils and inconven.
noes TO be remedied aud the best methods foI b,
cir correction will probably not be difacult. -
Of valuation at all our ports IS essen. -
n, aud effective measures should be taken to %
cure it. It is equally desirable that questions q,
fecting rates and classihcations should be =,
omptly decided ~
The preparation of a new schedule of customs y,
tiles is matter Of great delicacy because Of it's a.
rect effect upon the business of the country and ~
great difficulty by reason Of the wide diver ~
nee OF opinion rs to the objects that may prop a.
y be promoted by such legislation Some dis N
r6ance of business may perhaps result from the te
nsideraton Of this subject by congress- but this a
nporary i'll effect will be reduced TO the mini gb
I'M by prompt action and by the assurance which
g country already enjoys that any necessary oh
anges viii be so made as not TO impair the just ee
reasonable protection Of our home industries M.
e inequalities of the law should be adjusted
the protective principle should be maintained
4 fairly applied to the products Of our farms as
IL as of our shops. These duties necessarily ex
We relation to other things besides the public las
'enues We can not limit their effects by fixing ge
! eyes on the public treasury alone They have the
rect relation to home production, to work, to tio
ges, and 70 the commercial Independence OF ouI clio
Ahtt9s anu tuc Wise ana patriotic legislator AL
'uld enlarge the field of his vision to include all
these. gr,
Removal of the Tobacco Tax. BILE
he necessary reduction in our public revenues un
I, l am sure be made without making the
aller burden more onerous than the larger by ma
son of the disabilities and limitations which wa
process Of reduction puts upon both capital uel
q labor The free list can be very safely ex- =
ded by placing thereon articles that do not ON
sr injurious competition to such domestic pro SUI
rs as our home labor can supply The removal en- en-
ne internal tax upon tobacco would relieve an uo'
lortant agricultural product from a burden
ich was imposed only because our revenue ~
m customs duties was insufficient for the pub roo
needs. II safe provision against fraud eau be tbo
lsed' the removal Of the tax upon spirits used eac
he arts and in manufactures would also offer 7,
iiie'iiou Vi Ieuucihs the sur ma
~ wal
The president here refers to the amount Of the
ney in circulation at some lengthy yer