Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1890-12-02
THE PRESIDENTS MESSAGE.

Important parts OF the message oeuNereo
yesterday by the president to congress:
THE PAN-AMERIcAN CONGRESS.
The friendly relations of our country
with the nations of Europe and of the east
have been undisturbed, while the ties of
good Will and common interest that bind
us to the states of the western hemisphere
have been notably strengthened by the
conferences held in this capitol to consider
measures for the general welfare. Pur-
suant to the investigation authorized by
congress the representatives of every indie
pendent state of the American continent
and of Hayd met in conference in this cap
itol in October, 1889, and continued in
session until the 18th of last April. This
important convocation marks a most in
teresting and influential epoch in the his
tory of the western hemisphere. 1t is
noteworthy that Brazil, invited while
under an imperial form of government,
shared as republic in the deliberations
and results of the conference. The recon-
mendations of this conference were all
transmitted to congress at the last session.
| THE MARINE CONGRESS.
The international marine conference
which sat at Washington last winter
reached a very gratifying result The reg
tyulationss ssuggested have been brought to
the attention of all governments repre-
sented, and their general adoption is con-
| fidently expected. The legislation of con-
gress at the last session is in conformity
with the proposition of the conference,
and the proclamation therein provided for
will be issued when the other powers have
| given notice of their adhesion.
THE SLAVE TRADE IN AFRICA.
The conference of Brussels to devise
means for suppressing the slave trade in
Africa, afforded an opportunity for new
expression of the interest the American
| people feel in that great work. 1t soon be-
came evident that the measure proposed
| would tax the resources of the Congo
| basin beyond the revenues available under
| the general act of Berlin of 1884 The
United States, not being a party to that
| act, couldn't share in its revision, but by
separate act the independent state of the
Congo was freed from the restrictions up
on a customs revenue. The demoralizing
and destructive traffic in ardent spirits
among the tribes also claimed the earnest
attention of the conference, and the dele
gates of the United States were foremost
| in advocating measures for its suppression.
| An accord was reached, the influence of
which will be very helpful and extend
over a wide region. As soon as the meas
| ures shall receive the sanction of the Meth
erlands, for time withheld, the general
acts will be submitted for ratification by
the senate. Meanwhile negotiations have
been opened for a new and complete treaty
of friendship, commerce and navigation
between the United States and the Inde-
pendent State of Congo
| THE FINANCES.
The revenues of the government from
all sources for the fiscal year ending June
80, 1890, were 1868, ,963, ,OSO.55, and the
total expenditures for the same period
were S35S, ,61S, ,5S4. %. The postal re-
ceipts have not heretofore been included
in the statement of these aggregates, and
for the purpose of comparison the sum OF
$50, ,SS2 ,097 92 should be deducted from
both sides of the account. The surplus
for the year, including the amount ap
piled to the sinking fund, was S105, ,344,
496. .03, the receipts for 1890 were SIG, ,030,
923. 10 and the expenditures S15, f39, 81
, in excess of those of 1889. The customs
receipts were increased 81, ,S35, ,S4S.SS, AMI
, the receipts from internal revenues S11,
725, ,191. 50, while on the side of eNpendit
ures that for pensions was S1s,312,Oi
, in excess of the preceding year.
The treasury statement for the currer
d fiscal year, partly actual and partly est
| mated, is as follows:
Receipts from all sources, S406, ,OOO, ,OOt
total expenditures, S354, ,UUU, 900, leayin
: a surplus of So, 900, 900, not taking th
: | postal receipts into the account on eithe
y side.
The loss of revenue from customs 70
the last quarter is estimated at $4,000
600, but from this is deducted gain G
about $4,000, 600, realized during th
~ first four months of the year. For tfi
l -.
S373. 900. 900 and the estimated expendi
ures 1851, ,S52, s09. n, leaving an estimate
+ surplus of SO, 147, 190.5S, which, with
o cash balance of So, ,0G0, 600 at the begiI
: ming of the year, will give $67, lit, 7S0.5
.s as the sum available for the redemption {
e outstanding bonds or other uses. III
! estimates of receipts and expenditures fC
"a the postoffice department being equal, al
!, not included in this statement on eiths
l., | side
Il THE SILVER QUESTION.
t. An act demanding the purchase of 81
yer bullion and the issue of treasury not
q thereon" approved July II, 1890. has bee
e administered by the secretary of the trea
ury with the purposes in view to get int
" circulation at the earliest date possib
the full monthly amounts of treasul
-. notes contemplated by its provision and
'o the same time to give to the market fl
st silver bullion such support as the law CO..
Ia templates. The recent depreciation in Il
price of silver has been observed with 7
10 gret. The rapid rise in price which a
ticipated and followed the passage of Il
y n act was influenced in some degree by spe
- - ulation, and the recent reaction is in pa
! the result of the same cause and in part
- the recent monetary disturbances. Sor
~ months Of further trial will be necessa
= to determine the permanent effect of t
recent legislation upon silver values, b
it is gratifying to know that the increas
circulation secured by the act has exert
ey and will continue to exert a most bel
on fetal influence upon business and up
- general values.
While it has not been thought best to
lsv new formally the suggestion of an inter-
X tional conference looking to an agreemt
;s to adopt the full use of silver for coins
at uniform ratio, care has been taken
-, observe closely any change in the situati
Ae, abroad. No favorable opportunity will
W NJ lost to promote a result which it is col
, an IDENTIFY believed would confer very la
benefit upon the commerce of the wor
The recent monetary disturbances in Z
do land are not likely to suggest a compari
rn- of opinions upon this subject. Our v
wv; large supply of gold will, if not lost by
ing pulsive legislation in the supposed inter
of silver, give us position of advant
ike in promoting permanent and safe b'
an for the exchange of silver.
Id The efforts of the secretary to incrC
: to the volume of money in circulation
keeping down the treasury surplus to
10 ', lowest practicable limit, have been III
os mitting and in a very high degree succ
full The tables presented by him sh
INV, ing the increase of money in circulai
~ ,tsr during the last two decades, and espeC
iva " the table showing the increase dun
this nineteen months he has administe
Fge, the affairs of the department are inter
one ing and instructive The increase of N
oh, ey in circulation during the ninei
pine months has been in the aggregate sos, s
ton S13, or about 1.50 per capita, and of
increase only S7.100, 600 was due to the
wife cent silver legislation. That the subs
nan tial and needed aid given to commercs
ling suited in an enormous reduction of
ring public debt and of the annual inte
a. charge is q matter of increased salts
ton.
did There have been purchased and rede
No ed since March 4, 1889, and A per c
eclx bonds to the amount of S211 ,S32, ,450 {
aan9 cost of S346, SEQ, 741, resulting in the
/ of duction of the annual interest charge
IS. 81. 600, and total saving of interes
~ s5i, $40, 7O6.
notice with great pleasure the 81
( sio ment of the secretary that the rece
Ia; @ from internal revenue have increased
n.,S ing the last fiscal year nearly 1000,