Passaic City record., 1892-12-10

unuef Sect1Ou . OIL bno LarlfL law, CONNER
cial agreements relating to reciprocal trade
with the following countries: Brazil, Do
minican 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 aud their loss
Of South American trade
CANADA AND THE UNITED STATES
The controversy as to tolls upon the We'll
gress at the last session by special message,
having failed Of adjustment, l felt con-
strained to exercise the authority conferred
by the act of July %, 1892, and to proclaim
a suspension of the free use OF st. Marys
Falls Canal to cargoes in transit to ports in
Canada. The Secretary OF the Treasury
established such tolls as were thought to be
equivalent to the exactions unjustly levied
upon our commerce in the Canadian canals.
There is no disposition on the part Of the
people or Government of the United States
to 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 whetner, il 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 inde-
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 to avail ourselves
OF our great natural trade advantages. We
should Withdraw the support which is given
to the railroads and steamship lines of Cam
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. Ths subject of the power of
the Treasury to deal with rhis matter with
out further legislation has been under con-
sideration, but circumstances have post
poned q conclusion. 1t is probable that q
consideration of the propriety of modsfica-
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 me now
great satisfaction to report that the Chilean
Government, in 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 injured in the outbreak In the city of
Valparaiso the sum of $4,000. This has been.
accepted, not only as an indemnity for
dence that the Government OF Chile rightly
appreciates the disposition OF this Govern
,nent to act in q spirit of the most absolute
fairness and friendiiness in our intercourse
with that brave people. A further and con-
clusive evidence OF the mutual respect and
confidence now existing is furnished by the
fact that convention submitting to arbltra-
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
reprobation and abhorrence OF the lynching
OF italian subjects in New Orleans, by the
payment Of 125, 900 francs, or S34, 5000, was
accepted by the King OF Italy with every
manifestation of gracious appreciation, and
the incident has been highly promotive OF
mutual respect and good viii.
THE TREASURY.
The report Of the Secretary of the Treas
ury will attract especial interest ia view of
the many misleading statements 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
inc into details: First, that the public
1889. $3.50 074, 200, and the annual
interest charge sld, 6Si. 400: second. that
there have been paid out for pen
sions during this administration up to
November 1. 1892, S432, 554, 20, an excess
Of $114, ,466 sS609 over the sum expended
during the perloi from March !, 1855, to
March /. 1889, and third, that under the ex-
;stinr isus % tariff uo to December l about $685.
OcO 600 OF revenue wnich would have been
collected upon imported sugars il tle duty
had been maintained, has gone into the
rockets of the people and not into tne pEo-
lie treasury, as before.
Tf there are any who still think that the
surplus should have been kept out OF circu-
lation by boarding it in the Treasury, or
deposited in favored banks without interest
while the Government continued 70 pay 70
these very banks interest upon the bonds
deposited as security for the deposits. or
who think that the extended pension legls-
lation was q 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 Wall 10 see
whether these criticisms VIII taKe tne lorm
of legislation.
The revenues for the fiscal year ending
.June 80. 1892, from all sources were x425-
S6S. 26O. %. and the expenditures for all pur-
noses were $4i5, 953, ,8J6. S. leaving balance
Of So. 914, 45S. go. There were paid during
the year upon the public debt $40, 57O,-
467 .9S. The surplus in the Treasury and
the bank redemption fund, passed by the act
OF July IA, 1890 to the general fund, FUR
nished in large part the cash available and
,sed for the payments made upon the pub
lie debt. Compared with the year 1891, our
receipts from customs duties fell OF So
06 l24t .CS. while our receipts from internal
revenue increased IS, 354, 62S. 13. leaving the
net loss OF revenue from these principal
sources $50, 7o4, ,4l7.95. The net loss OF
revenue from all sources was $33, GA 81.
The revenues, estimated and actual for
the fiscal year ending June 30. 1893. are
nlaced by the Secretary at s463, S36, $50 -
and the expenditures at $46l, 356, 359- -,
Showing a surpius OF receipts over expendi-
tnres Of s2 0O0, 600. The cash balance IN the
Treasury at the end OF the fiscal year it is
estimated win be so, 292 357.o .o5.
The estimated recslots for tae fiscal Year
ending June, 80, 1894. are $49), 12l. 36S .3S
and the estimated appropriations S4S1 ,Sol.
3a5. as leaving an estimated surplus OF re-
ceipts over expenditures OF $S2. 800, GA %.