The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1893-12-08

senaVe IN feDruary last was ouiY proclaimed
last June.
1t is hardly necessary for me 10 stat that
the questions arising from our reiati ms with
Hawaii have caused serious embarrassment
Just prior to the installation Of the pres
ent administration the existing govern
ment Of Hawaii had been suddenly overthrown
and a treaty Of annexation had been negotiated
between the provisional government Of the
island and the United Ststes and submitted to
the senate for ratification This treaty with
drew for examination and dispatched Hon
James A Blount, OF Georgia, to Honolulu as a
special commission to make an impartial in
vestigation of the circumstances attending the
change of government and of all the conditions
bearing upon the subject Of the treaty. After
o thorough and exhaustive examination Mr.
Blount submitted to me his report
showing beyond all question that the
been subverted with the active aid Of
our representatives to that & vernment and
through the intimidation caused by the pres
ence OF an armed naval force of the United
Seates which was landed for that purpose at
the instance OF our minister. Upon the facts
developed II 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 OF our
forcible Intervention. With a view OF accom-
plishing this result within the cons titutional
limits OF executive power, and recoR nizing
all Our obligations and responsibilities grow
ing out OF any change of conditions,
brought about our unjustif1able interference.
our present minister at Honolulu has received
appropriate instructions to that end Thus
ar no Information of the accomplishment of
any definite result has been received from him
Additional advtces are soon expected. When
received they will promptly be sent to congress
together with all other Information at hand,
accompanied by special executive message
fr,lly dato oil tho
plete understanding Of the case, and presenting
| 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. l 1913,
amounted to s46l 716 56l.94 and Its expenditures
| to $50 S74.6742 90 There was collected from
customs $685. 855 Oia7s and from internal reve.
nue. sl6i ,OS7 e23 90 Our dutiable imports
amounted 10 S42l $50 I'll an increase of S,2 453,.
9J7 over the preceding year, aud importations
free OF duty amounting to 4H,54,2ll. de-
crease from the preceding year of s1a455, AT.
Internal revenue receipts exceeded those Of the
preceding year by S7,1H,4 81
The total tax collected OH distilled spirits
was s94, IN, 260 s.; on manufactured tobacco,
S3l 8s9, III "a, and on fermcnted liquors, e32,
5ls93a07. We exported merchandise during
the year amounting to s847. 64a 1874, decrease
VI dio~,oiS,0S4 lrOH the preceulnS year Inc
amount OF gold exported was larger than any
previous year in the history of the government,
amounting to Si08. 6S1 SA, and exceeding the
| amount exported during the preceding year by
S5S 1882. The sum paid from the treasury
for sugar bounty was 81, 375 49, 50 an increase
over the preceding year OF S1,033.053 %.
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
s43 ,lal 1865 70 and Its expenditures si5s l2l,
s6o 3s, resulting in a deficiency of T23,oOoo0o.
On the 1st day of November, 1898, the amount
Of money of all kinds in circulation or not in
cluded in treasury holdings was t1,7ls. 544 cs2,
| an increase for the year of sIi2. 4o4 94z Esti-
mating our population at 81, ,42i0O0 at the time
mentioned, the per capita circulation was SIS 49,
On the same date there was in the treasury
gold bullion amounting to SOC 61, e73, and silver
bullion which was purchased at a cost OF sl26,
261,5 ,5o3.
The purchase of silver under the law Of July
IA. 1892, during the last fiscal year. aggregated
54Oj8. l62 50 fine ounces, which cost SI5 581,
S74 ea 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 1853 674. .59l 46 fine
ounces, which cost Sl55, 900. $40 a. Between the
1st day of March, 1ss3, AID the 1st day OF
November, 1s93 the government purchased un.
der all laws 513, 3,717 fine ounces of silver at
cost Of $5l66 9ia The silver dollars that have
| been coined under the act of July IL, 1899, mum
Der 3eos7.2sa The seisniorage arising from
| such coinage was s697, 800 g 80 leaving on hand
| in the mints 4o,e99, 76) fine ounces Of silver
| which cost sla6, 7os,21a
Our total coinage of all metals during the
last fiscal year consisted of 997 ESQ, 655 pieces
valued at S43, 6S', Iva 80 of whi there S3)
e3s,l4 in gold coin, s., ,S437l5 in silver dollars
2l7, ,22l 80 in subsidiary silver coin and 81 0s'
| 103 90 in minor coins. During the calendar yeal
| 1899 the production Of precious metals in the
United States was estimated to be l. 95; ,3i5 hne
ounces Of gold Of the commercial and coinage
value of SO,OOoo and So, O0o, 0l0 fine ounces OF
silver OF the bullion or market value of SO, ,750
| 600 and Of the coinage value of s7+,9a a0l
1t is estimated that on the first day of July
1893 the me tallic stock of money in the United
| States, consist ting OF coin and bullion amounted
to 81, ,p18 $50 lee of which s597 697 6s5 was gold
| and :6l5 86l. 484 was silver.
| One hundred and nineteen national banks
we're organized during the year ending October
81, 1893 with capital of Sl1 230, 900, forty six
went into voluntary liquidation and 1oS sus
pended. Sixty-fve of the suspended banks
were insolvent, 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 Al west Of the Mississippi
river and 81 in the central and southern states
The total number Of banks In existence on the
31st day Of October. 1s9a, was 3,79j, having ar
| aggregate capital OF s6a5, So. 10 The net in
crease in the circulation OF these banks during
| the year was S3S SS5, sT2 The recent repeal oil
| the provision Of law requiring the purchase Of
silver bullion by the government o feature
| of our monetary scheme has made an entire
| change in the complexion of our currency af
| fairs. do lot doubt that the ul innate result
| of this action will be most salutary and fal
reaching.
In the nature Of things however it is impos
| sible TO know at this time precisely what condi
| tions will be brought about by the change, OF
vvh tur sloti Is
| in the light of such conditions appear to be es
| sential or expedi mt or course, after the re
cent financial perturbation tim is necessary
for the re-es establishme MT Of business confidence
| When however. through this restored conf
d-nce, the money which has been frightened
| into boarding laccs is returned to trade ant
enterprise, q surves of the situation viii
| probably disclose q safe path leading Il
| q permanently sound currency abundantly
| sufficient to meet every requirement of our in
creasing population and business In the pur
! suit Of this object we should resolutely turr
| away from ailuriug and temporar: ex
| pedients determined to be contented with
nothing less than lasting and com
prehensive financial plan In these cir
| cumstances I am convinced that q reasonable
delay in dealing with the su jsct instead o.
being injurious, will increase the probability o.
| wise action.
desire to earnestly suggest the wisdom q
amending the existing statutes iu gard t,
| the issuance of government bonds
| The authority now vested in the secretary O
/ the trea. ury to issue bonds is not clear as i
should be and the bonds authorized are disad
| vantageous to the gov rnm both as to th'
/ time Of maturi and rate of interest
| The superintendent Of immigration through
/ the secretary Of the treasury report. that dur
\ ing the / st fiscal year there arrived at ou
| ports ~ s93 immigrants OF these 1908 wer,
| not permitted TO land der the Hmita tions o
! tie law and 577 were eturned TO the ountrie
| from which they came by reas n of their havtn
become public caarge. The total arrival
i no Lass for ha