The morning call., 1891-04-23
EDITORIAL NOTES.

There are s23, 900, 600 of subsidiary coin now
lying in the Treasury, aud efforts are about to
be made TO get it in circulation. The Secretary
of the Treasury believes a great many OF the
smaller banks would be not only willing 10 take
a certain ercentage Of The money received from
the Treasury for The redemption of United
States notes, silver certificates and national bank
notes. in small coins, but that they would be
glad 10 buy fractional silver by che tx or other
wise. This privilege would also be extended to
manufacturers. The Treasury regui ltiOns pro-
vide that fractional silver coins 5. al be sup
Piled In sums of $500 or multpris thereof,
owing 10 the fact that express charge are made
on that basis. Congress recently appropriated
$4,000 FOR reconng uueurrent subsidiary coin.
That appropriation will be available "a July 1st
and with 1t about 100000 can be recoined.
principally into quarters.
From hint dropped by Secretary of the
Treasury Foster it is believed In certain circles
that proposition TO prOlong the life OF certain
bonds with interest at 2 per cent is now under
consideration. OF the S50,000,00n 412 per
cents, which expire September 1st, something
like S23, 900 held to secure national
bank calculation; the remainder are In trust
funds and private hands. The interest on these
bonds was anticipated by the late Secretary
Window holders surrendering them, receiving
both principal and interest. II Is the belief In
crrtaln quarters that an effort will be made 10
continue these bonds in their present function by
Of-rlng 10 stamp them so that they can draw
per cent interest for term of years yet to be de-
cided. The interest on Engand's debt now
averages 81 per cent to a per cent average for
this country.
The tin plate manufacturers OF Wales are be-
ing warned by the press to prepare for the oper-
alton OF the Mckinley tariff on tin in next July.
One of these editorials Iutlmates that "The recent
additions 10 wOrkmen's wages must come off.
Probably a lower scale than ever yet existed will
have to be adopted. Coal will come down; so
will steel. Iu no other way can the vast tin
plate making machinery OF South Wales be kept
in motion 10 preserve the American trade"
Despite the efforts of the manufacturers OF Great
Britain they already beginning TO feel the
loss of trade under The operations OF tile new
tariff. Indeed, the Sheffield manufacturers de-
clare that the recent reduction In wages was due
to loss OF trade In America.
The order allowing Lieutenant POwhatan II.
Clarke OF the Tenth Cavalry TO serve with the
We>tpnallan Hussar Regiment No. IL is the
first instance OF IN American army officer being
detailed to serve in German regiment The
Lieutenant is a klnsman OF Lieutenant General
Won Nersen, the commander OF the Third Army
Corps, who Won distinction in the cavalry branch
OF The Kaiser's service. The correspondence on
the subject between Secretary Proctor a1d the
Prussian Minister of war is unusually courteous,
the latter expressing MS Satisfaction IHaL lie
could do anything to Increase the friendship and
sympathy that had always existed between the
officers of the American army and those of the
German army.
The British electors are profoundly interested
In the contest five vacant Tory seats in Par
lament There is general Impression that
should the Tories succeed In keeping these seats
the Government would consider the result
encouraging enough to justify hem IN dissolving
Parliament and appealing 10 the country. Within
a month or two There has been revival OF
enthusiasm i'll the Liberal party and they are
confident Of winning South Dorset, Northwest
Suffolk, Whitehayen ana the Marlborough
Division of Leicestershire, or OF very largely re-
ducng the Tory maiorlties 10 those constituent
Giles and In Mid Oxfordshire.
When Di Rudini took Office there were prom
ises of more economical administration Of the
Government OF Italy. How those pledges were
observed is shown by the result OF the Minister
Of Finances appeal TO his colleagues to help him
toward the goal OF financial equilibrium by cut
ling down departmental expenditures In only
one departmenI-Ihe Foreign Omce-has
trenchment been found possible, the extent be-
ing 100000 francs per annum through the aboll-
ton OF certain cOnsulates. Instead OF cutting
down expenses the Minister OF Marine proposed
tile creation OF a new reserve squadron.