The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-05-17
EDITORIAL NOTES.

Cable advices from Buenos- Ayres announce
that gold has reached $50 premium, the highest
rate ever known 10 The Argentine Republic. But
what other result could be expected from the
collapse, The result of The Wild orgIe of eXtrava-
gance ana cTimiuallly which prevailed during
the past four years? Note how rapidly the Ma
tonal and Provincial debts have been piled up:
In 1861 the Indebtedness of Argentine was $50.
1000; In 1875 The debt was S99, 100000; IN
1884 ii had increased 10 S2l2, 600. Presi
dent ROca caused notable increase in the ma
tiORal burden; but Celman, who TOOK office IN
1886, elevated the total in two years TO S6l2,-
GOO, 200. On December 81, 1899 the total for
eigu debt Of the National Government and Of the
Provinces amounted to S3l2,0000OO, the
Federal internal debt TO S207 100000, and The
Provincial debt 10 $44 lO0,0 900; the cedulas
amounted 10 100000 900 aud the paper cur
Tency 10 S2S0000,O0O; tie amazing total being
S6l2 200, 900 for the Federal and Provincial
debts and $3.50 0O0,O for The extra debt, or
81 ,292 coo, 900 IN all. Nearly three-fOurths Of
this Stating amount was piled up during the
Ceman regime. BuenOs Ayres correspondent
adds that the state railways have been sOld the
customs receipts mOTtgaged, 2 duty of over 300
per cent is laid on imports, the National Bank Is
ruined. The HYpOthecatiOn Bank contains safes
which are ginning skeletons or finance, Tie
wholly bankrupted Provincial banks are enabled
TO keep open because OF loan raised by foreign
bankers, and there Is an unaccouuted for deficit
OF nearly S45O,O00O0O in the public treasury
No wonder gold IS scarce
Sir John Macdonald, the Canadian, Premier,
whose failing health has caused his adherentS
much concern. is now IS years of age. His re-
tiTement, an Ottawa di~pa CHI intimates, means
the collapse OF the Conservative regime In
Canada; but there are many who believe that
Sir Charles Upper eau avert the disaster,
While in The recent election Sir John had his
large majority wired out Ia Ontario aud Quebec,
Sir Charles, who devoted his energies TO the
maliIlme provinces, Increased the Governments
majority III the eastern end Of the Dominion,
thus saving the Government. II is said that
four years ago lie returned 10 Canada from Len
dou 10 he y his party IN the elections upon the
understanding that lie was 10 be Premier; but
when lie elections were over the Ontario COn-
setvatiyes Insisted that there be no change IN the
leadership Sr Charles, il Is also asserted, then
reed &c wave his claim Tor Tie time being on
condition that he was reappOuIed High Commits
sioner. that his son should receive Cabinet
pArtiOlio and that bis Son-ln-law, General cam
erOu, should receive hne billet. While Upper
is a man OF great ability, and one of The clever
est speakers on The stump he is opposed TO the
movement in favor OF unrestricted reciprocity.
There i, consequently, little doubt but that he
can count on the influence of Salisbury's Admin
istration. the Canadian Pacific aud other inter
ests arrayed against the elamor for annexation.
lie Will, however, have to keep sharp look
out on Laurler, MERCER and others, who are
credited with a desire TO see the Con seTyatIves
displaced by a coalition Government
Concerning "the most favored nation" clause
of the treaties Of nations. which has assumed
prominent position in the discussion over the
reciprocity negotiations under The Mckinley
tariff law, and notably IN the arrangement with
Spain, il has been repeatedly held that 1t does
not apply to privileges granted on tie
consideration OF reciprocal advantages,
but only TO privileges granted graiut-
tOusly. Some years ago importers Of sugar
from The Danish West Indies claimed under the
"mOSt favored nation clause" OF the treaty with
Denmark tie same privileges accorded underthe
Hawaiian reciprocity treaty. Then the u niied
States supreme Court declared. " Our conclusion
Is that the treaty with Denmark does not bind
the UBiled States 10 extend 20 That country. with
out compensation, privileges which lucy have
conceded 10 The Hawaiian Islands 10 exchange
for valuable concessions"
Emperor Williams Dusseldorf speech created
some establishment IN SaxOny, Wurtemberg,
Bavaria Baden, Hesse and other fractions OF the
Federal Empire. To demonstrate that be as
sumed too much attention has been called TO
the eleventh and other articles OF the German
constitution which defines the rights aud priyi-
eRes of the Kaiser