The gold leaf., 1893-12-07
THE PRESIDENTS MESSAGE.
ALengthy Document---But Lii
tie Said Oh the Financial
Question.

Dt IbIIittti III tlIt bOl-D l<f-if IltAl WIN,
as there is so much interest manifested in
what Mr. Cleveland has to say in this
particular document. Owing to its great
length we can not give space to it this
week Among other things the President
says:
The relation Of the United States with
the governments OF other lands are
friendly and cordial. As respects Brazil,
it has been necessary to disavOw the
action of Admiral Stanton in saIuting
the commander of the rebel fleet The
asylum given by Minister Egan to crimi-
nails engaged in revolutionary move
ments tended to encourage seditiOn and
disorder and has been discOuntenanced.
Chilian claims and our counter-claims
are under arbitration. 1t is recon-
mended that as parties to the Brussels
Conference we should Join in prohibiting
the sale OF arms, &c, i'll the parts OF
Africa given to the slave traffic. The
Behring sea matter is being amicably
adjusted with Great Britain under the
terms Of the award of the arbitra tors.
France has been invited to consider
Liberals claims to certain territories on
| Ter Southern border and a treaty in the
| interest of the latter has been negotiated
| in Paris. The impOlicy of entangling
alliances with foreign governments is
| illustrated by the bad results of our
| treaty with England and Germany four
years ago in regard to Samoa. We I'M
| dertOOk to pay our part OF the cost of
| the scheme OF government set up by the
| Berlin treaty, and are now paying for
| themaintenance of Mataafa, the Samoan
pretender, who is a prisoner with other
rebels against Malietoa
Our relations with Hawaii have caused
| serious embarrassment. Just prior to
the installation of the present admins
tratiOn the existing government of
Hawaii had been suddenly overthrown
and treaty of annexation had been
negotiated between the provisional
government of the islands and the United
States and submitted to the Senate for
ratification. This treaty was withdrawn
for examination. Hon. James II. Blount,
of Georgia, was dispatched to Honolulu
as a special commissioner to make an
impartial investigation of the circum-
stances attending the change of govern
ment and Of all the conditions bearing
upon the subject of the treaty. Mr..
Blount has made his report, showing
heyOnd all question that the cOnstitu-
tlOnal government of Hawaii had been
subverted with the active aid of our
representative to that government and
through the intimidation caused by the
presence of an armed naval force of the
United States which was landed for that
purpose at the instance OF our minister.
Upon the facts developed it seemed the
only honorable course for our govern
ment to pursue was to undo the wrong
that had been done by those represent
ing us and to restore as far as practical
bic the status existing at the time of our
fOrclble intervention. With a view OF
accomplishing the result within the con
; stltutiOnal limits of executive power
and recognizing all our Obligations and
responsibilities growing out of any
, changed conditions brought about by
our unjustifiable interference, our present
minister at Honolulu has received ap
. proprlate instructions to that end Thus
lar no information Of the accomplish
ment of any definite results has been re
, ceived from him. Additional advices are
soon expected. When received they vii
be promptly sent to the Congress
, together with all other information al
hand, accompanied by special ex
| haustlve message fully detailing all th'
r facts necessary to a complete understand
ing OF the case and presenting a histor,
t of all the material events leading up t.
the present situation.
The receipts Of the government from
! all sources during the fiscal year endet
June 30, 1898, amounted to $461 ,716,
561.94 and its expenditures to $3.50,
v 314, 6 30. There was collected iron
customs S2O5, 5,355, ,O16.73 and from
internal revenue S161 ,O27 ,623.93. Gu
dutiable imports amounted to S431
-. S56,1l1, an increase of $52 ,453, so
a over the preceding year, and importa
tons free OF duty amounted to $444
4,211, decrease from the precedin;
= year of S13 3,455, Al Internal revenu
receipts exceeded those of the precedin,
!, year by $7,147 ,445.32.
u The total tax collected on distile,
5 spirits was S94, ,72O, ,26O.55, on manu-
Y factured tobacco $31 ,SS9,711.74. an,
n on fermented liquors S32 ,54S. .9S3. or
9 We exported merchandise during tn
:, year amounting to $S47,GG5,194
l decrease of $1S2, 2,612,954 from the ore
u ceding year The amount OF gold eS
e ported was larger than any previou
O year IN the history of the government
y amounting to sos, ,GSO,S4 and ey
% ceedlng the amount exported during tn
c preceding year by SOS, ,517. Th
n sum paid from the treasury for suga
bounty was S9,375, ,13O.SS, an increas
over the preceding year of 50 ,O33
O53 90.
1t is estimated upon the basis q
present revenue laws that the receipts c
: the government for the year ending Jun
! 30, 1894, will be S43O, ,121 ,3G5.3S, an
y y its expenditures $45S, ,121 1865 .3S, rt
u suting in a deficiency of SOS, 900, ,OOi
/ On the first day OF November, 1898, th
?. amount of money of all kinds in circula
It ton or not included in treasury holding
l. was 81, l1S, ,344 $50, an increase for tn
8 year OF 2,4O4, ,941. Estimating ou
!. population at G1 1,42G,OOO at the tim
>, mentioned, the per capita circulatio
u was S23.4 On the same date there wa
II in the treasury gold bullion amOuntin
o to 500, ,6o7 ,273, and silver bullion whic
i was purchased alta cost of S126,26 80:
h 1t is estimated that on the 1st dav {
d July, 1913, the metallic stock of none
j. In the United States, consisting of col
and bullion, amounted to S1,213.559
w. lG9, OF which $597, ,697 $50 was rol
:, and S610 0,S61 ,4S4 was silver. The recer
II repeal Of the provision of law reouirin
IS purchase of silver bullion by the govern
W ment as feature of our mOnetar
scheme has made an entire change
id the complexion, of our currency affair
e 1t is not doubted that the ultimate resu
e OF this action will be most salutary an
far-reaching.
In the nature of things, however, it
~ impossible to know at this time precise
ID what conditions will be brought abor
by the change, or what, if any, suppl
rt mentary legislation may, in the light
re such conditions, appear to be essenti
I'd or eNpedlent. OF course, after the rece1
financial perturbation. time is necessal
. for the re-establishment of business Co
-, ~ tidence. When, however. through tn
I'll restored confidence the money which h;
been frightened into boarding places
Z. returned to trade and enterprise.
he survey OF the situation will probab
st disclose safe path leading to a perm
II. nently sound currency, abundant
sufficient to meet every requirement
:, an increasing population and bushes
~, In these circumstances a reasonat
I'll delay in dealing with this subject. inste;