The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1890-12-03


conventional regulation OF the passage OF
Chinese laborers across our Southern and
Northern frontiers.
On the ed day OF August last Sir Edward
Monsoa, the arbitrator selected under the
treaty OF December Il. 1899, rendered nm award
TO the effect that no compensation was due
from the Danish government TO the United
States on account OF what IL commonly known
as the Carlos Butterfield claim
Our relations with the French Republic con
tinue TO be cordial. Our representative at that
court has very diligently urged the removal ok
the restrictions imposed upon our meat products
and It is believed that substantial progress has
been made towards u Just settlement.
In the summer OF 1889 an incident occurred
which for some time threatened 10 interrupt the
cordaity OF our relations with the government
OF Portugal That government seized the
Delagoa Bay railway, which was constructed
under concession granted 70 an American
citizen. and at the same time annulled the
charter. The concessionary, who had embarked
his fortune In the enterprise having exhausted
other means OF redress, was compelled to In.
woke the protection OF his government Our
representations. made coincidentally with those
OF the British government, whose subicsts were
also largely interested, happily resulted In the
recognition by Portugal OF the propriety Of sub
mitting the claim for indemnity. growing out OF
its action, TO arbitration. This plan Of settle.
powers readily concurred In the proposal TO sub.
NIT the case 10 the judgment OF three eminent
iurists. TO be designated by the President OF the
swiss Republic, who. upon the Joint invitation
OF the governments OF the United States, Great
Britain and Portugal. has selected persons well
qualified for the. task before them
The friendship between our country and Mex.
leo, born OF close noighborhood and strength.
ened by many considerations OF intimate inter
course and reciprocal interest, has never been
more conspicuous than now, nor more hopeful
OF increased benefit 10 both nations. The In.
tercourse OF the two countries by rail-. already
great: Is making constant growth. The estab:
TO the intimacy OF traffic and open new chan.
nels OF access to fresh areas OF demand and
supply. The Importance OF the Mexican rail-.
way system will be further enhanced, 70 de.
gree almost impossible TO forecast, II II should
become link In the projected inter r'continental
railway / recommend that our mission In the
City OF Mexico be raised TO the first class.
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 ad'
lustmont OF pending questions and OF the In
crease Of our trade. Tho extent and develop.
ment OF our trade with the island OF Cuba in.
vest the commercial relations OF the United
Ststes and Spain with peculiar importance.
II is not doubted that special arrangement In
regard TO commerce, based upon the reciprocity
provision OF the recent tariff act, would operate
most benehcially for both governments. This
subject is now receiving attention.
The legislation OF the past few years has
evinced on the part OF Congress growing rcali'
zatlon Of the importance OF the consular service
In fostering our commercial relations abroad
and In protecting the domestic revenues. As
the scope OF operation expands increased pro.
vision must be made 70 keep up the essential
| standard OF ef1cienoy. The necessity OF some
adequate measure OF supervision and inspee.
tion has been so often presented that need
only commend the subject 10 your attention.
The revenues OF the Government from all
sources for the fiscal year ending June 30, 1880
were SI63, ,e03 060 80, and the total expenditures
for the same period were tsoa a6ls, ,bS4 So The
postal receipts have not heretofore been in.
oluded In the statement OF these aggregates,
and for the purpose OF comparison the sum OF
90. So 097.@ should be deducted from both
sides Of the account. The surplus for the year,
including the amount applied TO the sinking
fund was ti0o344 4Ds01 The receipts for 1890
were $1,000, 70 and the expenditures SIS.
7So S7l In excess OF those In 1889. The customs
receipts increased o. S35 st2 ~ and the receipts
from internal revenue 81, 726, 1919, while on
the side OF expenditures, that for pensions was
SlpSi2, o75 90 In excess Of the preceding year.
The treasury statement for the current fiscal
year, partly actual and partly estimated Is as
follows: Receipts from all sources, ttoe 100000;
total expenditures, s3b4, ,0oo 900; leaving q sur.
plus OF So2 20oo000-not taking the postal re.
ceipts into the ao"ount on either side. The loss
Of revenue from customs for the last quarter Is
estimated at t2hoOo,0oo but from this is de-
Quoted gain OF about ti6, 6,00000J. realized dur
ing the first four months OF the year.
For the year 1922 the total estimated receipts
are t373, 900, 900 and the estimated expenditures
SIS. .S62 20a42, leaving an estimated surplus OF
sIbli1, ,7pJbs, which, with cash balance Of t52.
10000 at the beginning OF the year, will give
S7il7,7 ,7p0.hS as the sum available for the re
demption OF outstanding bonds or other uses.
The estimates OF receipts ana expenditures for
the Post-office Department, being equal, are
not included in this statement on either side.
The no, directing the purchase OF silver
bullion and the issue OF treasury notes there
on" approved July II. 1890 has been admins.
tered by the Secretary Of the Treasury with an
n at
earliest possible dates the full monthly amounts
OF treasury notes contemplated by It's
provisions and NJ the same time 70 give TO
the market for silver bullion such sup.
port as the law contemplates The reoent dc.
probation In the price OF silver has boon OBJ
served with regret The rapid rise In price
which anticipated and followed the passage Of
the act was Influenced In some degree By spec.
ulation and the recent reaction is In part the re-
suit OF the same cause and, In part, OF the re-
cent monetary disturbances.
Some months OF further trial will be neoes.
sary 10 determine the permanent effect OF the
recent legislation upon silver values, but IL is
gratifying 20 know that the increased oircula-
ton secured by the act has eIertod aud will
continue TO exert q most beneficial influence
upon business and upon general values.
While Il has not been thought best 10 renew
formally the suggestion OF an international
conference looking 10 an agreement touching
the full use OF silver for coinage at uniform
rate care has been taken 10 observe closely any
change In the situation abro I'd and no favorable
opportunity will be lost 70 promote q result
which II is confidently believed would confer
very large benefits upon the commerce OF the
world.
The recent monetary disturbances IN En-.
gland are not unlikely 10 suggest re.examina.
tion OF opinions on this subject. Our very large
supply OF gold will, II not lost by impulsve legis.
laton In the supposed interest OF silver, give US
aposltion ~ advantage In promoting n perma.
nent and safe international agreement for the
free use OF silver rs coin metal
The efforts OF the Secretary 10 increase the
volume OF money In circulation By keeping
down the treasury surplus TO the lowest prao'
ticable limit have been unremlttlng and IN q
very high degree successful The tables pre-.
sented by him, showing the Increase OF money
in circulation during the last two decades, and
especially the table showing the increase dur.
ing the nineteen months he has administered
tho Affairs OF the department. are interesting
and Instructive. Tue increase OF money IN cir
oulation during the nineteen months has
tibO per capita and OF this 4ncreese only
u, 10000 was due 10 the recent silver leg
islation. That this substantial and needed aid
ductIos " Of ths public ssp, and Of 81 the annual
terest charge is matter OF Increased satisfac.
tion. There have beon purchased and redeemed
since March I, 1889. 4 and ~ per osnt. bonds 70
the amount OF eel s6a, $50 At cost OF t2io 62O.
ri, resulting in the reduction Of the annual In
terest charge Of g. ,coe. and total saving OF
interest OF t5l .b7e.7oa
notice with great pleasure the statement OF
the Secretary that tho receipts from internal
reyenus have Increased during the last fiscal
year nearly 9i2, 900 aud that the cost Of col.
leoting this larger revenue was less by t0,ei7
than for the same purpose In the preceding
year The percentage OF cost OF collecting the
customs revenue was less for the last hscal
year than ever before.
The customs administration board provided
for BY the act OF June 10 1890, was selected with
great care and Ia composed In part Of mon
~ m ha aAu min a
tlon Of the old customs regulations has made
them familiar with the evils 10 be yemodiod.
and 10 part OF mon whose legal and judicial 40
quiremenis and experiences soeemed 70 nt them
new statute The chief aim OF tho law 10
10 secure honest valuations OF oil dutiable mer-
chandise and 10 make these valuations uniform
at az our ports Of entry; II had been made