New-York tribune., 1893-12-05
senting a history Of all the material events
leading up to the present sltuauoh'
.pDITRATION

senting a history Of all the material events
leading up to the present SITUATION
ARBITRATION.
Rv q concurrent resolution, passed by the Sem
ate February a. 1890. and by the House OF KEEP
representatives. on the Sd Of April foliowing' the
President was requested ito invite. from time 10
time as fit occasions may arise negotiations
with any Government with which the Cm'ed
States has or may have diplomatic relations
to the end that any differences or disputes
arising between the two Governments which can
not be adjusted by diplomatic agency may De
referred TO arbitration and be peaCeapiy au-
justed by such means" April Is. lS9O tne IN
ternational American Conference OF Washing-
ton by resolution expressed the WISH that an
controversies between the republics Oh Anetica
and the nations of Europe might De settieu py
arbitration, and recommended that the Govern
ment Of each nation represented in that confer.
ence should communicate this wish 70 all
friendly powers a favorable response mas been
received from Great Britain in the shape Oh
resolution adopted by Parliament July '6 last,
cordially sympathizins with the purpose IN
view. and expressing the hope that Her MAJ
esty's Government will lend ready cooperation
to the Government of the United states upon the
ba sis of the concurrent resolution above quoted
1t affords me signal pleasure to lay this par
liamentary resolution before the Congress ana
10 express my sir cere qualification that the
sentiment of two great and kindred nations IL
thus authoritatively manifested In favor OF the
rational and peaceable settlement of interna-
tOnal quarrels by honorable resort 10 arpl'ia-
ton. - , ,ooo
Since the passage Of the act Of March g. 1893:
authorizing the President to raise the grade OF
our ENJOYS to correspond with the rank IN Which
FOREIGN countries accredit their agents here.
Great Britain. France Italy and Germany nave
conferred upon their representatives, at this
capital the title Of ambassador. and ! nave re,
sponded by accreditng the agents OF the unlted
States In those countries with the same ttle. n
like elevation Of mission is announced by Rus
sia and when made will be similarly met rms
inQrit
United States hold in the family of nations.
During my former administration took occa-
sion 10 recommend recast OF the laws re-
latng to the consular service in order that 1t
might become a more efficient agency In the
promotion of the interests 1t was intended TO
subserve The duties and powers Of consuls
have been expanded with the growing require
mcnts of our foreign trade. Dischargng inn
portant duties affecting our commerce ana
tries exercising judicial functions. these ofhcers
| should be men Of character, Intelligence ana
ability ,
secures copyright to American citiZens on equal
footing with its own. the privileges OF our copy
| right laws have been extended by proclamation
| TO subjects OF that country.
THE TREASURY.
The Secretary OF the Treasury reports that
| the receipts Of the Government from all sources
during the fiscal year ended June 3O 1893.
amounted to si6l 49, Sol "a and its expenditures
| 10 si5s.374s74 2s There was collected from Gus
toms 1905. .355, ,Ol6 73 and from internal revenue
| si6l O27 623 49, Our dutiable imports amounted
to si2l s567l an increase OF s52.453,9O7 over the
| preceding year. and importations free ot~duty
amounted to $i44.544.2l1. a decrease from the
| preceding year Of sl3.455.447. Internal revenue
receipts exceeded those of the preceding year Dy
s., AS 80.
The total tax collected on distilled spirits was
s94 30 2G0 80. manufactured tobacco. S3l,sSs-
| III "A. and on fernented liquors S'Z:9fs''oo o'.
w tod hap
amounting to s47.S65.l94. decrease OF sis26l2,
| g54 from the preceding year. The amount oi
gold exported was larger than any previous
| year In the history Of the Government. amount
ing 10 sl0s. .6s0S4. and exceeding the amount
| exported during the preceding year by s5ss5,oI..
| The sum paid from the Treasury for sugar
| bounty was s9375.130 Ss. an increase over the
| preceding year OF 2.O33.O53 o'.
| IT is estimated upon the basis Of present rev.
1 eniie laws that the receipts of the Government
| for the year ending June 80, 1894. Will be A5o-
l2l 2s5 3s and it's expenditures S45Sl2l5e5 49, re-
sultng in a deficiency Of $2S.OoO.OoO
| on the first day OF November 1895. the amount
| NJ money Of all kinds In circulation. or not IN
| cluded in Treasury holdings. was Sl,IS,oi4oNZ
an Increase for the year Of sll2,4Oi94I Estimat-
| ing our population at 81 i26 900 at the time men
! toned the per capita circulation was va ~
| on the same date there was In the treasury
| gold bullion amounting to s96,651.2'3 ana silver
| bullion which was purchased at cost OF
! $l26 25i. .jj3
| The purchases Of silver under the law Of July
| H. ls9O during the last fiscal year. aggregated
| q OOS 1862 80 fine ounces which cost No.o3l.3f o.
| The total amount Of silver purchased from the
time that law became operative until the
| repeal of its purchasing clause. on the first day
| Of November. 1898 l6S GA. 59O.i6 fine ounces
which cost tl5j.950.9i0 81. Between the first day
Of March 1873. and the first day OF Novembe.'
| 1892 the Government purchased. under all laws.
5o3 O03 III fine ounces Of silver at cost OF S5ic-
| 6229is The silver dollars that have been coined
| under the act Of July H. 1890 number 36.Os72so.
| The segniorage arising from such coinage was
| Sc 977 O9s 80. leaving on hand In the mints lio-
| 500 76O fine ounces OF silver which cost Sl26'-
| 75S,2lS.
| our total coinage Of all metals during the
last fiscal year consisted OF 972s0.s75 pieces val
ued At l7s so. Of which there was *3o.O3S,-
40 in gold coin s. 343 7l5 I'm silver dollars. S12lI.-
900 30 In subsidiary silver coin. and sl,OS6,lO2 30
| in minor coins.
| During the calendar year 1892 the production
| Of precious metals in the United States was
| estimated to be | 500 3,S fine ounces OF gold or
| the commercial and coinage value OF $}3.ooo,ooo
| and IS 900 900 fine ounces OF silver OF the bullion
| market value Of SjO,iDooOo ana OF the coihdse
| value OF sH 900
! 1t Is estimated that on the first day Of July;
| 1893 the metallic stock Of money In the United
| States consisting Of coin and bullion. amounted
| to sl2l3 559169 Of which s597,G91,6N was gold
| and $615 Sc. .4s4 silver
| one hundred and nineteen National banks
we're organized during the year ending October
| 81 1893 with n capital Of ll.23O.0OO. Forty-siX
| went into voluntary liquidation and one hundred
and fifty-eight suspended. Sixty-hve of the sls-
| pended tanks were insolvcnt, eighty-six re-
| sumed business. and seven remain in the hands
| Of bank examiners with prospects OF speedy re-
| SUMPTION or the new banks organized forty
! four were loca ted I'm the Eastern States. forty
| one west Of the Mississippi River. and thirty
| four in the Central and southern states The
| total number of National banks in existence on
| the 3lst day Of October. 1893. was 1896. having
an aggregate ca ptal Of $685. 55S l20 The net in
| crease in the circulation OF these banks during
| the year was s36 sS6972
| SILVER
| The recent repeal OF the provision OF law re-
| ouIring the purchase OF silver bullion by the
| Government as a feature Of our monetary
| scheme has made an entire change in the COM
| plexion OF our currency affairs. / do not doubt
| that the ultimate result of this action will be
| most sautary and far-reaching In the nature
| Of things however. il Is impossible to know at
| this time precisely what conditions will be