Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1890-12-02

the proprissy Of submitting the claim for
indemnity growing GU. Of its action to srbi-
trSiion. This plan of settlement having
been agreed upon the interested powers
readily concurred in the proposal to sui
nit the case to the Judgment Of three
eminent jurists TO be designated BY the
President of the Swiss Republic who upon
the joint invitation of the government Of
the United States, Great Britain and, Portu-
gal has selected persons well qualified for
the task before them.
The Japanese Treaty.
The revision of our treaty relations with
the empire Of Japan has continued to be
the subject Of consideration and of cores
pondence. The questions involved are
both grave and delicate snd while il viii be
my duty to see that the United States are not
by any changes exposed to undue discrimipa-
ton sincerely hope that such revision as will
satisfy the legitimate expectations of the
Japanese government and m>intsin the
present ard long existing friendly relations
between japan ard the United States will
be effected. The friendship between our
country and Mexico, born of close neigh
bo'hood and strengthened by many consii l.
erstious of intimate intercourse and reeipro-
cal interest, has never been more couspicu-
Gus than now. Nor more hopeful of 10
creased bereft to both nations. The inter
course of the two countries by rail already
great. is making constant growth. The es-
tablished lines and those recently projected
add to the intimacy of trstiic and open new
channels Of access TO fresh areas of demand
snd supply. The Importance of the Mex
lean railway syttem viii! be further ea-
HANGED to a degree almost impossible 10
forecas. if it should become q link in the
projected intereontinentsl railway. recon-
mend thst our mission in the city Of Mexico
be raised to the first class.
Relations with Spain.
The cordial character of our relation with
Spain warrants the hope that by the con-
iinuance of methods of friendly negoiia'i IN,
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 Of Spain with
peculiar Importance. 1t is not doubted
that a special arrangement in regard to
commerce based upon the reciprocity pro-
vision of the recent tariff act would operate
mos. beneicislly for both governments.
This subject is now receiving attention
The restoration of the remains of John
Ericsson to Sweden afforded gratifying
occasion TO honor the memory of the
inventor to whose genius our country owes
so much and to bear witness to the unbroken
friendship which has existed between the
land which bore him and our own which
,,d h;y,,e ait NJ, fh., Ia ,,f
September last the commission appointed
and revised the proceedings of the COM
mission under the claims between the
United States and Venezuela of 1866
brought its labor to close within
the period fixed for that purpose
The proceedings of the late commits
sion were characterized by spirit of
inpsrtialty and high sense Of justice and
an incident which was for many years the
subject of discussion between the two gov
ernments has been disposed of in manner
alike honorable and satisfactory to both
parties. For the settlement of the claim of
the Venazuela Steam Trans portation Com
pany which was the subject of joiot reso-
luticns adopted at the last session of Con-
gress negotiations are still in progress and
their early conclusion Is anticipated.
nc ifkisifitoi NV pass btN stdtd has
evinced on the pat of Congress a growing
resiizaton of the importance of the consular
service in fostering our commercial rels-
tions abroad aud in protecting the domesii,
revenues. As the scope of operaii ms
expands, increased provision must be made
to keep up the essential standard of eiii-
cheney. The necessity of some adequate
measure Of supervision and inspection has
been so often presented that l need only
commend the subject to your attention
Revenues of the Government.
The revenues of the government from
all sources for the fiscal year ending June
80, 1890, were s463 1868 ,oS055 aud the
total expeDdi'ures tor the same period were
s3586ls 5Sf 52, the postal receipts have
rot hers tofore been included In the state
ment of these aggregates and for the pur-
pose of comparison the sum of $50 s82,-
097 92 should be deducted from both sides
OF the account. The surplus for the year
including toe amount applied to the sinking
fund was SI05, ,34i .49G O3 The receipts
for lS90 were 1850 1928 ~ snd the
expenditures sl5.139 s7l in excess of taosc
nf 1889. The customs receipts increased ST.
s35, ,Sl2 SO and the receipts from Internal
Revenues 3l,172,5l9 IS9, while on the
side of expenditures that for pensions was
s ,93l 207 596 in excess of the preceding
year. The treasury statement for the cur
rent fiscal year partly actual and partly
estimated il IS follows; Receipts from slI
sources, S406 900 600; total expenditures.
1854, 600 GOO, leaving a surplus of s52,
| 00o, 900. not taking the postal receipts in.o
the account on either side. The less OF
! revenue from customs for the last quarter
is estimated s25 ,000, 600. but from this is
deducted a gaia Of about Sl6 900 900 real
ized during the 8rst four months of the
year. For the year 1892 the total esti.
mated receipts are 1878 900 900. and the
estimated expenditure 1857 ,S52. .209 AZ
| leaving an esiimstei surplus of SlJ li1,
100 So. which with a cash balance of @52. =
00o, 900 at the beginning of the yesT will
give ss7 l4T ,790 SO as the sum available
| for the redemption Of outstanding bonds Or
other pses The estimates Of receipts and
| expenditures for the post Office d rartmen;
being equsl are not included in the state
ment on the other side.
| silver Legislation.
/ The act Directing the purchase Of silver
bullion and the issue of treasury notes
theron approved July IA, 1890. has bean
nry with an earnest purpose to get into
circula ion at the earliest possibls dag the
full monthly amount Of treasury notes con
| :emplated By its provisions, and a. the sans
time 10 give to the market for silver bullion
such support as the Law contempla;ss. This
| 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 ac: wa
Influenced in some degree by specal1'iJr
and the recent reaction Is in par
the result of the ssme cause and in par
of the recent monetary disturbance. Som'
months of furthur trial will be necessary K
determine the permaDen. effect of the rscen
! legislation upon silver values but it is gra,
if, ing to know that the increased circula
ton secured BY the act has exsrted sni vii
continue to exert most beneficial infnencj
upon business and upon general values
While il has not been thought best d
renew formally the suggestion Of an inierna
,ionsi conferes ce, looking to an sgrseneu
touching the full use Of silver for coissg,
at uniform rates, care has been taken &
observe closely any change in the situation
abroad and no favorable opportunity vii
be lost to promote result which il is con
fidently believed woulo confer verV larg'
benefits upon the comnercs of the world
TIE recent mome ntsry disturbance ia Eng
land are not unlikely 70 suggest re exam
ination Of opinions upon this subject. GU
very large supply Of gold, will, il no. los
by impure legislation in the supposed inter
eat Of silver give us position Of advantage
in promoting permanent and safe interns
tlonal agreement for the free use Of siive
as a circulating medium.
The efforts Of the secretary TO increas
the volume Of money in circulation b.
. keeping down the treasury su'pios to tn