The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1893-12-08


the instance OF our minister. Upon the facts
developed 1T seemed to me The only honorable
course for our government to pursue was TO
undo the wrong that had been done BY those
representing US and TO restore as far as prac-
ticable the status existing at the time oil our
forcible intervention- With view OF accom-
plishing this result within the cons titutional
limits of executive power, and recognizing
all our obligations and responsibilities grow
ing out of any change OF conditions,
brought about our unjustifiable interference
our present minister at Honolulu rs received
appropriate instructions to that end Thus
ar no Information of the accomplishment OF
anv definite result has been received from MIN
Additional advices are soon expected When
received they will promptly be sent TO congress
together with all other Information at hand,
accompanied by a special executive message
fully detailing all the facts necessary to COM
pIete under -tanding of the case. and presenting
a history of all material, events leading up
to The present situation.
The Treasury.
The secretary of the treasury reports that
the receipts of the government from all sources
during the fiscal year ended June 81. 1893,
amounted to si6l ZIG 56l.9i and its expenditures
TO eI59 57i51i % There was collected from
customs So, ,355 Ol6 70 and from internal. reve-
nue. sl5I,037.62l93 Our dutiable imports
amounted 10 1921 s567ll an increase of 81, 455,
90 over the preceding year, and iLlportations
free of duty amounting to 4H,5il,2ll a de-
crease from the preceding year of slI4S,ib.
Internal revenue receipts exceeded those OF the
preceding year by s7,1i7,4i'.S2-
The total tax collected on distilled spirits
was se4,T2l 055; on manufactured tobacco.
s3I, $50 7IL74. and on fermented liquors. 49,,
5iS933O1 We exported merchandise during
the wear amounting to ssi7. 6ih 1874, decrease
81 81 = sl.., Nln
amount of gold exported was larger than ang
previous year in the history of the government
amounting to SluS 81. sii and exceeding the
amount exported during the prece ling year by
s5S 1885, 5l7. The sum paid from the treasury
for sugar bounty was 80, ,sT5 10 So an increase
over the preceding year OF s ,03lO53U9.
1t is estimated upon the basis of present
revenue laws that the receipts OF the COVE n
ment for the year ending June 81, 1894 will be
si3 l,S65 .6 and its expenditures sI5s I2I,
355 81, resulting in a deficiency of 2s,'OO,GOl
On the ist day OF November ls9a, the am )unt
of monev of all kinds in circulation or not in
cluded in treasury holdings was sl,7lS. o4i. 6s2,
an increase for the year OF Sll2 4ji947. Esti-
mating our population at 65,42i,O0) at the time
mentioned, the per capita circulation was - 50
On the same date there was in the treasury
gold bullion amounting to s9i,6H, -73, and silver
bullion which was purchased at cost OF sls6,-
26I,5,3.
The purchase of silver under the law of July
IA. 1897, during the last fiscal year, aggregated
54.0ys 1872 SO fine ounces, which cost SIS 5i1,
S7453 The total amount Of silver purchased
from the time that law became operative until
the repeal of its purchasing clause on the lst
day OF November 1893, was 16S 59l4j fine
ounces, which cost sI55,9N94JsL Between the
lst day Of March, 1897, ID the lst diy of
November. 1898, the government purchased ul-
der all laws 5J3,013 TlI fine ounces of silver at
cost OF Sjl6,6-2.9is The silver dollars that have
been coined under the act of July IL, 1897, num-
Der 36.OSI.2sh The seigniorage arising from
such coinage was SCI, 900 g 80. leaving on hand
in the mints l4J, 500, ,56) fine ounces of silver
which cost sl26 T5S,2l8
Our total coinage of all metals during the
last fiscal year consisted of 99i ,23O. 875 pieces
valued at s4S. 6S', I7S 3D. OF whi there was s3l-
C3s liI in gold coin, 3i3 us in silver dollars,
s.2l7 y 90 in subsidiary silver coin and sits
l0i 90 in minor coins. During the calendar year
ls92 the production of precious metals in the
United States was estimated to be l. 95i, ,315 fine
ounces of gold of the commercial and coinage
value of sD,O0J.1 . and So 10000 fine ounces of
silver of the bullion or market value of so, T50
00n and of the coinage value OF s7i,9'a s0l
1t is estimated that on the first day of July
l 50 the metallic stock of money in the United
States. consisting of coin and bullion amounted
to 81 2s 5S9,1c9 of which sj97. .esT, ,6S5 was gold
and 6I5, ,S6l, is4 was silver
One hundred and nineteen national banks
were organized during the year ending October
81, lSa3 with capital of Sll, ,23O,DO1, fortv-six
went into voluntary liquidation and ljs sus-
pen led Sixty-five of the suspended banks
were insolveut, eighty-six resumed business,
and seven remain in the hands of bank ex-
aminers with prospects of speedy resumption.
OF the new banks organized A were located
in the eastern states IL west of the Mississippi
a ;,,f Al and thnr bot
The total number of banks in existence on the
Slst day OF October. 1884, was 3,7ej, having an
aggregate capital of $685.. .55Sl lsl The net in
crease in the circulation of these banks during
the year was s33 ss5.ST2 The recent repeal OF
the provision of law requiring the purchase Of
silver bullion by the government as a feature
of our monetary scheme has made an entire
change in the complexion of our currency af-
fairs 1 do lot doubt that the ul innate result
of this action will be most salutary and far
reaching.
In the nature of things however, it is impos
sible 10 know at this time precisely what condi-
tions will be brought about by The change, or
what if any, supplementary legislation may
in the light of such conditions. appear to be es-
sential or expedi Mt OF course, after the re-
cent financial perturbation tim is necessary
for the ereestabishment of business confidence.
When however, through this restored conf
d nee, the money which has been frightened
into boarding laces is returned to trade and
enterprise a surve. of the situation will
ploblbly disclose a safe path leading 10
permanently sound currency abundantly
suficient to meet every requirement of ou' in
creasing popula ation and business. In the pur-
suit of this object We should resoluteiy turn
away from alluring and temporar ex-
pedents, determined to be centented with
nothing less than lasting and COM
prchensive financial plan In these cir
cumstances I am convinced that q reasonable
delay in dealing with the su ject instead OF
being injurious, will increase the probability of
wise action
desire to earnestly suggest the wisdom of
amending the existing statutes in gard 10
the issuance OF government bonds.
The authority now vested in the secretary of
the trel- urv to issue bonds is not as clear as il
should be ami the bonds uthorized are disad-
vantsgeous to the gov rnm both as 10 the
time OF maturi and rate OF interest
The superintendent of imm grafton through
tie secretary of the treasury report that dur
ing the / st fiscal year there arrived at our
ports AL. 5s5 immigrants. OF these lJ63 were
not permitted TO land urder the limitations OF
the law and 577 were returned TO the countries
from which lhey came by reas n of their having
become public caarge The total arrivals
we're Iil,US4 less than for the previous year
Department of Justice.
The report of the attornev-general contains
the usual summary Of the affairs and proceed
ings OF the department Of Justice for the past
year, together with certain recommendations
as to needed legislation on various subjects
cannot too heartily indorse the proposition
that the fee system as applicable 10 the COM
pensation Of United States attorney, marshsls,
clerks of federal courts and United States com
missioners should be abolished with as little
delay as possible 1t is clearly in the interest
of the communit: that the business of the
courts both civil and criminal shall be as small
and as inexpensiveiy conducted as the ends OF
justice will allow.
The system is, therefore. thoroughly viciou;
which makes the compensation of court off
cials depend upon the volume OF such business
and thus create a conflict between a proper ex
ecution OF the law and private g hin, which can
not fail to be dangerous to the rights ana free