The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-11-27
EDITORIAL NOTES.

Secretary WINDOWS interconvertible bond
plan, which q Washington dispatch iDtimates
the President has failed to indofse, Is said TO
recommend the issue Of new coupon bonds bear
ing per cent interest In large and small de-
nominations to reach all classes having unem-
ployed money on hand. These bonds, II Issued
up TO the limit 10 meet the demand Tor them, and
always redeema at par in lawful money at
any sub Treasury would, il is claimed, solve the
problem of an elastic currency. The arguments
against The plan are that ii would absorb an I'M
mense sum OF money and the question would i'm.
medialey arise, " What could the Government
do TO make IL earn its own interest? The Gov
eminent could not reinvest the money, and 1t
would be turned into the Treasury and thus pro-
duce at ouce contraction Of The currency. ex-
acIly what the plan is intended 10 prevent"
Then" IL is answered, 1.-The bondhOlders
would soon call their money back again, and the
supply of currency would illus always be equal
10 the demand Tor it."
The Islands OF 81. Pierre and Mquelon, which
Newfoundland desires France TO surrender in
making i settlement of the FreDch-shOre dff-
Guilty, probably for grant OF African territory,
lie about ten miles off the south coast of New
fOnndland, at the entrance OF Fortune Bay. They
with fve lesser slets, constitute the last rem
naut of the North American colonies OF Franco
Miqueon has an area OF 45,542 acres and ST
Pierre 6420 acres. The settlements chiefly owe
their prosperity 10 the cod-fshing industry, and
sometimes the population reaches 10000 In a
fishing season ST. Pierre and Miquelon, With
5000 inhabitants. were ceded 10 England along
with Newfoundland in 17l3 but in the English
conquest oil Canada they were assigned 10 France
as a fishery depot. Devastated by the English in
l77S, restored to France in II SO. again depopu-
lated by the English In 1898, recovered by
France in 1902 aud lost In 1903, The Islands have
remained III the undisputed possession OF france
siuce 1916.
During terrific gale near Swallow in the early
part Of October declares the Hong Kong Iete-
graph, whole feet of fishing craft was COM
pletely lost, the number OF people drowned being
yarlCusly estimated at from 300 TO 5000 people.
The Chinese assert that thousands must have
been drowned, but that is probably gross eXag
geration. Numbers OF bodies of the unfortu-
nate fishermen are being washed ashore all along
the coast for a distance Of TWO three miles.
and, as tie officials are too nlggardly 10 Inter
them, lie rotting in The sun.
The State Department, through the Consular
service. has inaugurated another valuable work
in the collection Of Information regarding street
paving and roadmakIng in Europe SO FAR as
this city is concerned a large proportion OF the
funds exacted from the property-owners In recent
years has been diverted from It's lawful purpose
by The printing ring and political chlcanery.
In the evolution Of modern navies the captive
balloon is to be utilized to detect the approach
of hostile ships and torpedo boats. \ French
armorclad is provided with one that when aloft
gives its occupant range OF view extending
twenty-five miles IN all directions II Is now fe-
pofled that Two new English vessels are to be
filled out with captive balloons.
The Japanese census shows a population OF
40.7o2 .o20. the number OF dwellings being
7.S4o S72. Toxic has population of > IS, 5 46
and Osake ,2o3, 1876. The centenarians form
quite a respectable contingent, 60 persons hav-
ing attained their hundredh year. 40 their OF st,
13 their 1921. II their 1880, 8 their 1o5th and
he nldasf 100 yenrs