The morning call., 1891-08-16
FUNDING BONDS.
Secretary Foster Explains the Condition Of
the Treasury.

financial situation generally: about S18,-
100000 OF the four and half per cent
bonds will be extended, and applications
have been received covering two and half
millions more. What the final outcome will
be of course l do not know. 1t Is probable
that considerable portion of the balance
will be extended. The Treasury is able to
pay those not extended. By the extension
we have succeeded in preventing the de-
crease of the national bank notes, and have
increased their circulation nearly So, 0O0, 900
lhe outlook is that considerable more of an
increase will be effected. | am not finding
fault with the actions of the banks as much
as has been inferred from the rereut pubi-
cations. | saw Mr.. Sherman at Mansfield,
but the statement telegraphed from Mans
held regarding our conference Is pure rO-
nance While there is less money in the
treasury than for many years past, it is in
a comfortable condition. Because there is
less money in the Treasury it follows that
there is more money in the hands of the
people, thus facilitating the conduct of the
business of the country. We are ON a gold
basis and there is no occasion for alarm
touching the ability Of the Government to
maintain this condition. The Secretary has
ample power to maintain or increase the
present reserve of gold. There is at present
no occasion for the exercise Of this power,
but should occasion arise L would certainly
not hesitate to use ii"
SUGAR IN YUCATAN.
The Bureau of American Republics is In
receipt of interesting information In regard
to the growth of the sugar industry in Yuca-
tan. Hitherto Hennequin fiber has been
the great product of the province and its
present wealth has been almost wholly de-
pendent upon that industry, but capitalists
of the State are now investing in splendid
sugar lands in the southern section and
bringing experienced sugar-makers from
Cuba to manage the new plantations. Until
recently much sugar was imported from
Havana, the local production not being
large enough for the consumption, but it is
now believed the sugar industry can 20 hand
In hand with the growth of Hennequin fiber,
the latter being confined to partially arid
lands in the northern half of the State, while
the rich vegetable soil in the southern part
is given over to the production of sugar. A
significant feature IF the development of
beth industries is that everything has been
accomplished with native capital and native
resources.
The bureau is informed that steamer of
the Royal Mall Line recently left Port
Limon, Costa Rica, 1or England. with 10000
sacks Of coffee, the largest single shipment
ever made from Costa Rica More coffee
was offered which could not be taken by the
vessel.
NEW MEXICAN SHELTER.
The Bureau Of American Republics is In
formed that the official reception and inau-
gural ceremony in connection with the es-
adjustment of the great smeller at Mon
terey, Mex, was held last week and attended
by many representatives OF the Government
and other prominent men. The Smelter has
really been in operation for three months
and the company is now running three fur
naces and smelling at the rate of 150 tons of
ore day. Besides the mines in the Mon
terey district ores are received from Catorce,
Sierra Mojada, Mazafil, Conception del Orc.
La VTnfuT3 Snp NfCnlaG Inuana and nth
districts. The third of the Monterey great
smelterS, La Grand Fundicion National, is
nearing completion.
WEEKLY CROP REPORT.
The weekly weather and crop bulletin of
the Agricultural Department says in part:
Oregon-Spring wheat is ripening. Corn
Is in fine condition. All fruits are above
the average except apples and prunes.
Melons are plentiful.
California-In the extreme northern por-
tion there has been some damage to gardens
by frost. Fruit prospects were never better.
The wheat yield will be above the average,
and the quality will be excellent. Hop
picking is pr rogressing in the central portion
of the State, the quality being good. Grain
thrashing continues. Barley is being stored,
awaiting better prices.
LAND CASES DECIDED.
In the case of Martin Mithe VS.. Elias
Daily, Acting Secretary Chandler of the
International Department to-day affirmed
the decision of the Commissioners of the
General Land Office, holding for cancela-
ton the entry of the latter in the Los Au-
geles District. Patents were directed to be
issued to the Puget Sound Mill Company in
half dozen cases brought against il by the
Government in the Seattle District.
GAUGERs APPOINTED.
The following appointments as United
States Gaugers in California have been
made: John II. RiOrdan, James E. Nc
Clure, San Francisco; John C. Medley,
Sacramento; William II. Dobyne, Santa
Rosa; Edward A. Well, Elk Grove; Charles
E. Merrill, Placerville.
PENSIONS GRANTED.
Pensions have been granted TO the follow
ing Californians: Richard Willis, James
T. Young, Silas X. Malloch, James H.
Thiell. William Currey, Guy l.. Cobb, Lewis
Newcomer, Albert c. Lafferty and Joseph
Bauch.
RETURNED TO HIS POST.
Secretary Foster resumed his duties at the
Treasury Department this morning after
two weeks vacation.