Fisherman & farmer. [volume] (Edenton, N.C.) 1887-19??, 1892-12-16


with the following countries: Brazil, Do
mintcan Republic, Spain for Cuba and
Puerto Rico, Guatemala, Salvador. the
German Empire. Great Britain for certain
West Indian Colonies and British Guiana,
Nicaragua, Honduras and Austria Hungary.
The alarmed attention of our European
competitors for the South American mar
ket has been attracted to this new American
policy and to our acquisition and their loss
Of South American trade.
CANADA AND THE UNITED STATES.
The controversy as TO tolls upon the We'll
land Canal, which was presented TO Con-
gress at the last session by special message,
having failed Of adjustment, felt con-
strained 70 exercise the authority conferred
by the act OF July 90 1892, and 70 proclaim
a suspension o. the free Use Of st. Mary S
Falls Canal TO cargoes in transit TO ports in
Canada. The Secretary OF the Treasury
established such tolls a were thought TO be
equivalent to the exactions unJustty levied
upon our commerce in the Canadian canals.
There is no disposition on the part OF the
people or Government of the nited States
10 interfere in the smallest degree with the
political relations Of Canada. That question
is wholly with her own people. 1t Is time
for US, however. to consider whether, If the
present state of things and trend OF things
is to continue our interchanGes upon lines
of land transportation should not be put up
on a different basis, and our entire 1nde-
pendence Of Canadian canals and Of the st.
Lawrence as an outlet to the sea secured by
the construction of an American canal
around the Falls OF Niagara and the open
ing Of ship communication between the Great
Lakes and one Of our own seapOrts.
We should not hesitate 20 avail ourselves
of our great natural trade advantages. We
should withdraw the support which Is given
to the railroads and steamship lines Of Can
ada by traffic that properly belongs to us,
and no longer furnish the earnings which
tighten the otherwise crushing weight Of the
enormous public subsidies that have been
given to them The subject Of the power of
the Treasury to deal with this matter with
out further legislation has been under con-
sideration, but circumstances have post
poned conclusion. 1t is probable that
consideration of the propriety of modifca-
ton or abrogation Of the article OF the
Treaty of Washington relating to transit OF
goods in bond is involved in any complete
solution Of the question.
THE CHILEAN TROUBLE.
Congress at the last session was kept adj
vised of the progress Of the serious and for a
time threatening differences between the
United States and Chile. 1t gives now
great satisfaction to report that the Chilean
Government in a most friendly and honor
able spirit has rendered and paid as an in
demnity to the families of the sailors of the
Baltimore who were killed and to those who
were JuF6u Ill Inc OuLOFoAk III inc Guy OIL
Valparaiso the sum Of SIS 900. This has been
accepted, not only indemnity for
wrong done, but as a most gratifying evil
dence that the Government OF Chile rightly
appreciates the disposition Of this Govern
:nent to act in a spirit of the most absolute
fairness and friendlineSS in our intercourse
with that brave people. A further and con-
elusive evidence of the mutual respect and
confidence now existing is furnished by the
fact that convention submitting to arbitra-
ton the mutual claims of the citizens Of the
respective Governments has been agreed
upon.
THE ITALIAN AFFAIR.
The friendly act of this Government in
expressing to the Government of Italy its
and adherence of the lynching
of Italian subjects in New Orleans, by the
payment OF 1875 900 francs, or S34, $50 80, was
accepted by the King OF Italy with every
OF gracious appreciation, and
the incident has been highly promotive OF
mutual respect and good will.
THE TREASURY.
The report of the Secretary Of the Treas
ury will attract especial interest in view of
the many misleading stlteman that have
been made as to the state of the public rev.
enues. Three preliminary facts should not
only be stated, but emphasized. before look
ing into details: First, that the public
debt has been reduced since March 4,
1889, $3.50, 074, 200, and the annual
interest charge Sl1,6S4, 400; second, that
d hny9 t6s phd Grs for peh to
November l, 1892, 1892 564, 170. 70, an excess
of S114, 466 1885, % over the sum expended
during the period from March /, 1885, to
March /, 1889, and third, that under the ex-
listing tariff up to December l about $685.
900, 900 of revenue, which would have been
upon imported sugars if the duty
had been maintained, has gone into the
pockets of the people and not into the pub
lie treasury, as before.
II there are any who still think that the
surplus should have been kept out of circu
iation by boarding it in the Treasury, or
deposited in favored banks without interest
while the Government continued to pay to
these very banks interest upon the bonds
deposited as security for the deposits or
who think that the extended pension legis-
ation was a public robbery, or that the
duties upon sugar should have been main
tanned, [ am content to leave the argument
where It now rest, while we wait to see
whether these criticisms will take the form
IF legislation.
The revenues for the fiscal year ending
June 80, 1892, from all sources !. ere 1926
36S, 26O. %, and the expenditures for all pur-
poses were S415, 953, S06.56, leaving balance
IF SO. ga 453 80. There were paid during
;he year upon the public debt $40, 570,-
E67. IS. The surplus in the Treasury and
The bank redemption fund, passed by the act
If July IA, 1890, to the general fund, fur
1ished in large part the cash available and
lsed for the payments made upon the pub
ic debt. Compared with the year 1891, our
receipts from customs duties fell Off $42,-
)6l PAL -CS, while our receipts from internal
revenue increased IS, 2S4, S23 ID, leaving the
net loss OF revenue from these principal
sources $50, 7o4, 417.95. The net loss of
revenue from all sources was S32, 675, 972. 81.
The RSflma ta1 and acrllat
the fiscal year ending June 80 1898, are
placed by the Secretary at 1888. 1876 $50. Il