The Brookhaven leader., 1890-12-11

sone arrangements may be effected which
VIII assure to the United States a property
| right, derived from Russia, which was not
| disregarded by any nation for more than
eIghty years preceding the outbreak of the
existing troubles.
HAWAII AND THE M'KINLEY BILL.
In the Tarin act wrong was done 10 the
Kingdom of Hawaii which am bound to pre-
sumo was wholly unintentional Duties were
levied on certain commodities which are jn. .
cluded in the reciprocity treaty now existing
between the United states and the Kingdom
exception in favor of that Kingdom. / hope
congress will repair what might otherwise
seem to be breach of faith on the part of
this Government.
TREATY RELATIONS WITH JAPAN.
| The revision of our treaty relations with
the empire of Japan has continued to be the
subject OF consideration and of correspond.
ehce. The questions involved are both
grave and delicate; and, while it will be my
| duty to see that the interests of the United
States are not by any changes exposed to
undue discrimination, L sincerely hone that
such revision as will satisfy the legitimate
expectations of the Japanese Government
and maintain the present and long existing
friendly relations between Japan and the
United states will be effected.
MEXICAN AFFAIRS.
The friendship between our country and
Mexico, born of close neighbOrhood and
strengthened by many considerations of in
innate Intercourse and reciprocal interest
| has never been more conspicuous than now
nor more hopeful of increased benefit to both
nations. The intercourse of the two coun-
| tries by rail, already great, is making con-
slant growth.
RELATIONS WITH SPAIN
The cordial character of our relations with
Spain warrants the hope that by the contin.
uance of methods of friendly negotiation
| much may be accomplished in the direction
OF an adjustment of pending questions and of
the increase of our trade. The extent and
development of our trade with the island of
| Cuba invest the commercial relations of the
united states and Spain with a peculiar i'm
portance. 1t is not doubted that IA special ar
rangeInent in regard to commerce, based
upon the reciprocity provision of the recent
Tariff act, would operate most benefcially
for both governments. This subject Is now
receiving attention.
JOHN ERICSSON
The restoration of the remains of John
Ericsson to Sweden afforded a gratifying oc-
casion to honor the memory of the great in
ventor, to whose genius our country owes so
friendship which has existed between the
land which bore him and our own, which
claimed him as a citizen.
THE VENEZUELAN CLAIMS.
On the I'd of September last the commission
appointed to revise the proceedings of the
Claims convention between the United States
and Venezuela of 1865 brought its labors to a
close within the period fixed for that pur.
pose. The proceedings of the late commits
sion were characterized by a spirit of impair
tiality and high sense of justice, and an in
cident, which was for many years the subject
of discussion between the two governments,
has been disposed of in manner alike hon
oraole and satisfactory to both parties.
THE CONSULAR SERVICE.
The legislation of the past few years has
evinced on the part of Congress Il growing
realization of the importance of the consular
service In fostering our commercial relations
abroad and in protecting the domestic rev
enues. As the scope of operations expands,
increased provision must be made to keep up
the essential standard of efficiency The
necessity of some adequate measure of super
vision and Inspection has been so often pre-
sentcd that need only commend the subject
to your attention.
FINANCIAL.
The revenues of the Government from all
sources for the fiscal year ending June 80,
1880, were S46S, 1858 080.55, and the total cX-
penditures for the same period were S35S ,6lS,-
5S452 The postal receipts have not hereto
of these aggregates, and for the pur-
pose of comparison the sum of $50, $50 097.92
should be deducted from both sides of the
account. The surplus for the year, includ-
ing the amount applied to the sinking fund,
was $l05,344 ,497.03. The receipts for 1890 were
SIS, ,030,92 49, and the expenditures $l5,739,-
s7l in excess of those of 1889. The customs
receipts increased $3.50 sass, and the re-
ceipts from internal revenue Sll725, l9l. 49,
pensions was Sl9,3l2074.9 in excess of the
preceding year
RECEIPTS AND EXPENDITURES
The Treasury statement for the current
fiscal year partly actual and partly eStimat-
ed, is as follows:
Receipts from all sourcese, s4O6, 900 900; total
expenditures, 1854 100000, leaving surplus
of S52, ,OO0, ,000-not taking the postal receipts
into account on either side The loss of rev
enue from customs for the last quarter is
estimated at S25, 900, but from this is de-
Quoted a gain of about Sl6,0000O0 realized
during the first four months of the year
For the year 1892 the total estimated re-
ceipts are 1913 100000 and the estimated eX
penditures $357 S52, ,20942, leaving an estimat-
ed surplus of SIS, ,l47, ,79O5S which, with a cash
balance of $50, ,OOO, 600 at the beginning of the
wear will give $66, ,l47, ,79O5S as the sum avail
rpdemDtlOn
bonds or other uses. The estimates of re-
ceipts and expenditures for the Post ONCE
Department being equal are not included in
this statement on either side.
PURCHASE OF SILVER BULLION
The act directing the purchase of silver
bullion and the issue of Treasury notes
thereon" approved June A. $780, has been
administered by the Secretary of the Treas
ury with an earnest purpose to get into cir,
monthly amounts of Treasury notes contem-
plated 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 sill
yer has been observed with regret.
The rapid rise in tba Prce of the
act was Influenced in some degree by specu-
lation, 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 necessary TO deter
mine the permanent effect of the recent legis-
latiOn upon silver values, but 1t IS gratifying
to know that the increased circulation Sc
cured by the act has exerted and will continue
to exert more beneficial influence upon
business and upon general values.
THE RECENT FINANCIAL FURRY.
The recent monetary disturbances in En-
gland are not unlikely to suggest a re-exam-
ination of opinions upon this subject Our
very large supply of gold Will, II not lost by
impulsive legislation in the supposed interest
of silver give us a position OF advantage IN
promoting permanent ana saIe lnterna-
tional agreement Tor the Tree use OF silver as
a coin metal.
CIRCULATION OF MONEY.
The efforts of the Secretary to increase the
volume of money in circulation by keeping
down the treasury surplus to the lowest prac-
ticable limit have been unremlttlng, ana IN
very high degree successful. The tables pre-.
sented by him, showing the increase OF
money in circulation during the past two de-
cades. and especially the table showing the
Increase during the eighteen months he has
are interesting and instructive. The in
crease of money in circulation dur
ing the nineteen months has been in
the aggregate s93, ,Sl3, or about $l5O per
capita, and of this increase only S,lO0,OOO
was due to the recent silver legislation
That this substantial and needed aid given
to commerce resulted in an enormous re-
duction of the public debt and OF the annual
Interest charge is matter of increased salts
faction. There have been purchased and re-
cent. bonds to the amount of s2ll, ,sS2, $50, at
cost of s246 62O 74l, resulting in the reduction
of the annual interest charge OF $500 500,
ana a total saving of interest of SSl ,576,706.
THE INTERNAL REVENUE.
Inotice with great pleasure the statement
ternai revenue have increased during the
last fiscal year nearly Sl2 100000, and that the
cost of collecting this larger revenue was
less by seo6l7 than for the same purpose in
~ A. E sNAA