The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1890-12-06

| tervening in compliance with the demands OF
the Guatemaan authorities, to authorize and
enect. in violation OF precedent the seizure on q
vessel OF the United State OF q passcng r In
transit charged with political oifonses in order
that he might be tried for such offenses under
whatwns described rs martial law was con-
strained 10 disavow Mr.. Miners act and re
call him from his post,
| Our relation with China, which havo for
several years occupied so important place in
our diplomatic history, have called for careful
consideration and have been the subject oil
/ much correspondence.
The communications of tho Chinese minister
| have brought into view the whole subject OF
| our conventional relations with his country
aud ut the same time this Government through
| Its legation at Picking. has sought to arrange
various matters and complaints touching the
| interests and protection OF our citizens in
| China.
The new treaty OF extradition with Great
Britain, after due ratification, was proclaimed
on the 25th of last March. Its beneficial work.
ing is already apparent.
| The diff renee between tho two governments
touching the fur seal questions in the Behrlne
Sea is not yet adjusted, MS will be seen by the
correspondence that will soon be laid before
Congress. Tho offer to submit the question to
arbitration, as proposed by Her Majesty's Gov.
ernment, has not been accepted, for the reason
that the form OF submission proposed is not
satisfactory to either party. 1t is sincerely
hoped that before the opening OF another seal.
I inT season some arrangement may be affected
which will assure to the United States n prop
erty right derived from Russia, which was not
disregarded by any nation for more than eighty
years preceding the outbreak of the existing
trouble.
THE REVENUES OF THE GOVERNMENT
from all sources for the fiscal year ending Juno
30, 1890 were si63, 963 0s0. So and the total ex-
penditures for the same period were 1858, ,61S,-
5S452 The postal receipts have not here tofore
been included In the statement of these aggre.
gates, and for the purpose Of comparison the
sum of 500, $50 02 should be deducted from
both sides OF the account The surplus for the
year, including the amount applied to the sink
ing fund, was Sl05 3ii 1908. The receipts for
1880 were sl60j0, 10 aud the expenditures
Sl5 73a,S S1 in excess Of those OF 1885, The GUS
toms receipts increased $685. S42. SO and the
receipts from internal revenue, Sl1,7a5, ,191. So
while, on the side of expenditures, that for per-
sions was Sl9,3l2 5.96 in excess of the preced-
ing year.
The Treasury statement for the current fiscal
year, partly actual and partly estimated, is as
follows: Receipts from all sources SiO6 900 900;
total expenditures s354,o0O0O0. leaving sur
plus OF s52,0OO,O00-not taking the postal re-
ceipts into the account on either side. The
loss OF revenue from customs for the past quar-
ter is estimated at $25 000 900, out from this is
deducted gain of about $l6, 100000, realized
the first four months of the year.
For the year 1892 the total estimated receipts
are 1913 0O0,00O and the expenditures s357, ,s52,-
2o9.42, leaving an estimated surplus Of sl5 49,
9O5S, which, with cash balance Of $4,000 900
ut the beginning OF the year, will give s67, I47-
1DO.bS as the sum available for the redemption
OF outstanding bonds or other uses. The esti-
mates OF receipts and expenditures for the Post
ONCE department, being equal are not included
in this statement on either side.
SILVER AND THE FINANCES.
The act Directing the purchase of silver bull
lion and the issue OF treasury notes thereon"
approved July IA, 1890, has been administered
by the Secretary of the Treasury with an earn
est purpose to get into circulation at the earli-
est possible dates the full monthly amounts OF
treasury notes contemplated by its provisions
ana at the same time to give to the market for
silver bullion such support as the law contem-
plates. The recent depreciation in the price of
silver has been observed with regret. The rapid
rise In price which anticipated and followed the
passage OF the act was influenced in some de-
gree by speculation and the recent reaction is
in part the result Of the same cause and in part
OF the recent monetary disturbances.
Some months OF further trial will be neces-
sary to determine the permanent effect OF the
recent legislation upon silver values, but 1t is
gratifying to know that the increased circula-
continue TO exert most beneficial influence
upon business and upon general values.
While II has not been thought best to renew
the suggestion of an international con.
ference looking to an agreement touching the
full use OF silver for coinage at q uniform ratio,
care has been taken to observe closely any
change In the situation abroad, and no favora-
BILE opportunity will bo lost to promote n result
which 1t is confidently believed would confer
very large benefits upon the commerce OF the
world.
The recent monetary disturbances in Eng
and are not unlikely to suggest q re-examin
ltion OF opinions upon this subject. Our very
nrge supply of gold will, II not lost by impul-
'ivc legislation in the supposed interest of
silver, give us a portion OF advantage in pro-
noting permanent and safe international
agreement for the free use OF silver as coin
METAL
The efforts OF the Secretary to increase the
volume OF money in circulation by keeping
down the treasury Surplus TO the lowest practi-
cable limit have been unremitting and in q
'ery high degree successful. The tables pre-
'ented by him, showing the increase OF money
n circulation during the last two decades, and
especially the table showing the increase dur
ng the nineteen months he has administered
he affairs OF the department. are interesting
md instructive. The increase OF money in cir
'uiation during the nineteen months had been
n the aggregate s93,866, S18 or about 81 30 per
'apita, and OF this increase only 81, loo. 600 was
iue TO the recent silver legislation. That this
and needed aid given to commerce
esulted In an enormous reduction OF the public
lebt and OF the annual interest charge Is mat
er OF increased satisfaction There have been
purchased and redeemed since March 4, 1889
our and fcur-and-a-h per cent bonds to the
mount OF sell S32 40 at cost Of s246 $40 TAI re-
'ulting in the reduction OF the annual interest
harge OF IS, 957, COS and total saving of inter-
,st OF S51, 576,O
notice with great pleasure the statement
II the Secretary that the receipts from internal
evenue have increased during the last fiscal
ear nearly $4,000 900 and that the cost of col
ectlng this larger revenue was less by 500. GIT
han for the same purpose In the preceding
ear. The percentage OF cost OF collecting the
ustoms revenue was less for the last fiscal year
han over before.
The Customs Administration board provided
or by the act of June 10, 1890, was selected with
,reat care and is composed in part OF men whose
PREVIOUS experience in the administration OF
he old customs regulations has made them
amiliar with the evils to be remedied, and in
part OF men whose legal and judicial acquire |
nents and experience seemed to fit them for |
he work OF interpreting and applying the new |
tatute. The chief aim Of the law is to secure |
lonest valuations Of all dutiable merchandise
md TO make these valuations uniform at all our |
,orts OF entry, 1t has been made manifest by a |
Congressional investigation that system OF
had been long In use by certain |
lasues OF importers, resulting not only in a |
reat loss OF revenue, but in most intolerable |
against honesty. IT is not seen |
low this egisation, when IT is understood, can |
70 regarded by the citizens OF any country hay |
ng commercial dealings with Us as unfriendly.
I any duty is supposed to be excessive lot the
be lodged there 1t will surely not be
A trnod nv anv we'll disposed peOple that n |