The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1890-12-10
SOMERSET. PA, WEDNESDAY, DECEMBER 10 1890.

volume Of money in circulation have
been in high degree successful, and IN
quoting FROM the Seciefary's report shows
that the increase of money in circulation
during the nineteen months Of his ad-
ministraiien has been in the aggregate
S93, ,sG6,sl3, or about 81 30 per eapita, and
Of this increase only s7.l00,eoe Was dus
to the recent silver legislation. That
this substantial and needy aid given to
commerce resulted in an enormous re-
daction Of the public debt, and Of she
annual interest charge, is matter Of
increased satisfaction.
There have been purchased and re-
deemed since March 4, 1859, and Al
per cent. bounds TO the amount ofs2lI,
$3.50, at cost of s246 5a0,7il, result
ing IN reduction OF the annual interest
charge Of s., ,s67, COZ. and q total saving
of interest Of s5l, ,5zsIoe.
rus REcEST MONETARY CRISIS
The depression in the prices of agricul-
tural products had been greatly relieved,
and buoysns and hopeful tone was
beginning to be felt by all our
people. These promising Influences
ihave been in some degree checked
by the. surprising and very unfavora-
ole monetary events which have recent
Iy taken place in England. 1t is grstify-
ing to know that these did not grow in
any degree out of the financial relations
Of London with our people, or out Of any
discredit attached to our securities held
in that market The return Of our bonds
and stocks was caused By money sfrin-
gency in England, not by any loss OF
value or cretllt in the securities them
selves. We couId not, however, wholly
escape the ill-efEects of foreign none
tary agitation accompanied by such ex-
traordinary incidents as characterized
this. Il is not believed, however, that
these evil incidents which have for the
time unfavorabiy affected values in this
country can long withstand the strong,
safe. and wholesome influences which
are operating to give our people profita-
bic returns in sli branches Of legitimate
trade and industry.
UNDER THE NEW CENSUS
Tie decennial enumeration Of the
people Of the United States, the Presi-
dent says, has been completed and the
duty now devolvez upon Congress Of
making a new spportionment Of the
Representatives among the several States.
The President calls attention to the
fact that during the last session Of Con-
gress he vetoed several bills providing for
the erection Of public buildings. and says
that no class Of legislation is more liable
toabuse srto Degenerate into an unseen
~ scramble about the public treasury,
and recommends that wise ECONOMY be
exercised aud an impartial examination
be made in each case.
oUR FRIENDSHIP FOR NExico.
The President calls the attention Of
Congress to various subjects under dis
cussion with other nations which are
pending in friendly manner, and, con-
tiuuing. says
and Mexico, born Of close neighborhOod
and strengthened by many considerations
Of intimate intercourse aud reciprocal
interest, has never been more conspicu-
ous than now, nor more hopeful Of in
creased benefi to both nations The in
tercourse of the two countries by rail,
already great, is making constant growth
The established lines and those recently
projected add to the intimacy of traffic
and oder new channels Of access to fresh
areas Of demand and supply The i'm
portance Of the Mexican railway system
viii be further enhanced to degree al
most impossible to forecast if it should
become a link in the projected interna-
tional railway. recommend that our
mission in the City of Mexico be raised
to the first class.
TIE Dr FsTrOS or TrrfpRns-rrY