Red Lodge picket. [volume] (Red Lodge, Mont.) 1889-1907, 1893-12-09

existence he 31st day of October, 1883, was
8, ,7g6, having an aggregate capital of $685.
55s,i2o
nsnie net increase in the circulation OF
these banks during the year was S36, $685.
972.
THE SHERMAN LAW.
It's Repeal Has Changed the Complex
Jon of Our Currency Laws.
The recent repeal Of the provision of the
law requiring the purchase of silver bull
lion by the government as feature of our
monetary scheme has made an entire
change in the complexion of our currency
affairs and do not doubt that the ultimate
result of this action will be most salatary
and far-reacning.
In tie nature of things, however, it is
impossible to know at this time precisely =
what conditions will be brought about by
the Change, or what, if any, supplement
tary le4 islation may, i'll the light Of such
conditions, appear to be essential or eNpe-
dient. Of course, after the recent finan-
cial perturbation
Time Is Necessary
for the establishment of business conf
dence When, however, through this re-
stored confidence the money which has
been frightened into boarding places is re-
turned to trade and enterprise, a survey cf
the situation will probably disclose as safe
path leading to permanently sound
currency, ab,lndantly sufficient to meet
every requirement OF our increasing popu-
lation and its business In the pursuit
Il ,f<,J.
away from alluring and tempting expedi-
ents, determined to be content with moth
tag less than lasting and comprehensive
financial plan. In these circumstances
am convinced that a reasonable delay in
dealing with this subject, instead of being
injurious, will increase the probability of
wise action.
Authority to Issue Bonds.
l desire also to earnestly suggest the
wisdom Of amending the existing status in
regard to the issuance of government
bonds The authority now vested in the
secretary of the treasury to issue bonds is
not as clear as it should be, and the bonds
authorized are disadvantageous to the
government, both as to the time of their
maturity and rate of interest.
The Monetary Conference.
which assembled at Brussels upon our in
vitation, was adjourned to the present
year. The considerations just stated and
the fact that definite proposition from us
seemed to be expected upon the reassem-
bling of the conference led me 10 express a
willingness to have the meeting still fur
ther postponed. 1t seems to lie that it
would be wise to give general authority to
the president to invite other nations to
such conference at any time when there
fhould be fair prospect Of accomplishing
all international agreement on the subject
of coinage
AS to Imm grafton.
The su1.,rintendent Of immigration,
through the secretary of the treasury, re-
ports that during the last fiscal year there
arrived at cur ports 40, 1913 immigrants; OF
these ,C63 were not permitted to land un-
der the limitations of the law and 5'1
were returned to the countries from which
they came by reason of their having be-
come public charges. The total arrivals
were 141 ,O34 less than for the previous
year.
Quarantine Regulations.
The secretary in his report gives an ac-
count of the operation of the Marine hos
pital service and of the good work done
under it's supervision in preventing the
entrance and spread of contagious dis
eases. The admonitions of the last two
years touching our public health and the
demonstrated danger of the Introduction
of contagious diseases from foreign ports
has invested the subject of national quar-
antine with increased interest. A more
general and harmonious system than now
exists, acting promptly and directly every
where, and constantly operating by pre-
ventive means to shield our country from
time having due regard to the right and
duties of local agencies, would, l believe,
add greatly to the safety of our people.
THE PosTOFFlcE DEPARTMENT.
Large Deficit Instead of the Surplus An
t oipated.
The report of the postmaster general
contains g detailed statement of the oper-
ations of the postoffice department during
the last fiscal year, and much interesting
touching this important
OAtsuSA VI VIC OolAC Se1'ACe. Inc ~ -
ness of the mails indicates with absolute
certainty the condition of the business Of
the country and depression in financial
affairs inevitably and quickly reduces the
postal revenues. That there was larger
than usual between the post
Office receipts and expenditures is the ex-
pected and unavoidable result Of the dis
tressing stringency which has prevailed
throughout the country during much
of the time covered by the
postmaster generals report. at a
date when better times were
it was estimated by his pre-
decessor that the deficiency on the 3oth
day of June, 1898, would be but little
over million and half dollars 1t
however, to more than five
At the same time and under
the influence of like anticipations esti-
mates were made for the current fiscal
year ending June &c. 1894, which exhibited
a surplus of revenue over expenditures OF
sS72, 2445. Il, but now in view Of the actual
receipts and expenditures during that
part Of the current fiscal year already ex-
pired, the present postmaster-general es-
Inmates that at it is close, instead OF sur
plus, there will be q deficiency OF nearly
eight million dollars
THE INTERIOR.
Report of the Secret Try Contains Much Of
Interest-Penslons aud Indians.
The secretary of the interior has the su-