Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1890-12-04

hope congress will repair what might
other wise seem TO be q breach of faith
on the part of this government
TIE -eIazoa Ray Afair.
In the summer of 1889 an incident oc-
CURED which for some time threatened
to interrupt the cordiality of our re-
lations with the government of Portu-
gal. That government seized the
Delagoa Bay railway, which was con-
structed under concession granted to
an American citizen. and at the same
time annulled the charter. Our repre-
sentations, made coincidently with those
OF the British government. happily re-
suited in the recognition by Portugal of
the propriety of submitting the claim
for indemnity growing out of its action
to arbitration. This plan of settlement
having been agreed upon, the interested
powers readily concurred in the pro-
posal to submit the case to the judg-
ment of three eminent jurists, to be
designated by the president of the Swiss
republic, who, upon the joint invitation
of the governments of the United
States, Great Britain and Portugal, has
selected persons well qualified for the
task before them. Our relations with
Cuba, are cordial and satisfactory. This
cursory glance at foreign affairs brings
the president down to consideration of
the national treasury.
Dollars and Cents
The revenues of the government from
all sources for the fiscal year ending
June 30, 1890, were S463, ,96S, 0S0. .55, and
the total expenditures for the same
period were S45S, ,6IS, ,584 81 The postal
receipts have not heretofore been in
cluded in the statement of these aggre-
gates. and for the purpose of compari-
son the sum of $50. .SS2, ,097 should be de-
Quoted from both sides of the account;
the surplus for the year, including the
amount applied to the sinking fund, was
Sl05, ,344, ,496. .03. The receipts for 1890
were $1,000, ,923.79, and the expendi-
lures SIS, ,739, 81 in excess of those of
1889. The customs receipts increased
s., ,S35, ,S42. So, and the receipts from in
ternal revenue 81, ,725. 1879. while on
the side of expenditures that for pen
sions was S19, ,312, ,07596 in excess of the
preceding year.
The treasury statement for the cur
rent fiscal year, partly actual and
partly estimated, is as follows: Re
ceipts from all sources, S406. .000, 900; to-
tai expenditures, S354, 600, 900, leaving a
surplus of Sj2 600, 600, not taking the
postal receipts into account on either
side The loss of revenue from customs
for the first quarter Is estimated at $685.
600. 600, hut from this is deducted a gain
of about SIG, 600, 600, realized during the
first four months of the year. For the
year 1892 the total estimated receipts
are 1918, 600. 600, and the estimated ex-
penditures 1857 .S52. 300. AZ, leaving an es-
timated surplus of Sl5, 147. 790.5s. which,
with cash balance of $50, ,000, 900 at the
beginning of the year, will give $751;
147, SO as the sum available for the
redemption of outstanding bonds or
other uses. The estimates of receipts
and expenditures for the postoffice de-
partment, being equal. are not included
in this statement ON either side.
The Silver Act.
The act directing the purchase of
silver bullion and the issue of treasury
notes thereon" approved July IA. 1890,
has been administered by the secretary
of the treasury with an earnest purpose
to get into circulation at the earliest
possible dates the full monthly accounts
of treasury notes contemplated by its
provisions and at the same time to give
to the market for silver bullion such
support as the law contemplates The
recent depreciation in the price of silver
has been observed with regret.
Go Slow on Free Coinage.
Some months of further trial will be
necessary to determine the permanent
effect of the recent legislation upon sill
yer values While it has not been
thought best to follow the suggestion of
an international conference looking to
an agreement touching the full use of
silver for coming at uniform ratio,
care has been taken to observe closely
any change in the situation abroad.
Increasing Circulation.
The efforts of the secretary to increase
the volume of money in circulation by
keeping down the treasury surplus to
the lowest possible limit have been un-
renting and in very high degree sue
cessful. The increase of money in cir
culation during the nineteen months
has been IN the aggregate S93, SEE, ,S13,
or about $3.50 per capita, and of this in
crease only S7.100,000 was due to the re-
cent silver legislation. There have been
purchased and redeemed since March 4,
1889, and 4 1-2 per cent. bonds to the
amount of S211 1882. .450 at cost of S246,-
620, 741, resulting in the reduction of the
annual interest charge of IS, 967 500 and
a total saving Of interest of S51, $40, 700.
The receipts from internal revenue have
increased during the last fiscal year
nearly S12. 1000, ,0GG, and that the cost of
collecting this larger revenue was less
by S90,617 than for the same purpose in
the preceding year.
Importation Frauds.
The customs administration board,
provided for by the act of June 10, 1890,
was selected with great care. The chief
aim of the law is to secure honest vaiu-
ations of all dutiable merchandise and
make these valuations uniform at ali
oNr ports of entry.
Army and National Guard.
I concur in the recommendations Of
the secretary that adequate and regular
appropriations be continued for coast
defense works and ordnance. Plans
have been practically agreed upon and
there can be no good reason for delay
ing the execution of them, while the de-
fenseless state of our great seaports
furnished an urgent reason for wise ex-
pedition. The encouragement that has
been extended to the militia of the
states generally, which has most appro-
priateiy been designated as the ma
tional guard" should be continued and
enlarged.
offsnse Against the United States
The report of the attorney general is
under the law submitted directly to con-
gress, but as the department of justice
is one of the executive departments
some reference to work done is appro-
pirate here. A vigorous and in the
main an effective effort has been made
to bring to trial and punishment all vio-
lators of the law. Especial attention is
called to facts connected with the prose-
cution of violations of election laws,
and of offenses against United States
officers. The number of convictions Sc
cured, very many of them upon pleas of
guilty, will, it is hoped, have salutary
restraining influence. There have been
several cases where postmasters appoint
ed by me have been subjected to violent
interference in tine discharge of their
official duties, and to prosecutions and
personal violence of the most extreme
character. Some of these cases have
been dealt with through the department
of justice, and in some cases the post
Offices have been abolished or surrender