Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1893-12-07
formation Al nd- acroTnan7sr - : 80,


case. and presenting history Of all the materi
alevents leading up to the present situation
Favorable to Arbitration.
BY concurrent resolution, passed by thu
representatives on the 81 of April following, The
president was reQueS ted to Invite, from time e
time as ut occasions may arise, negotiations
with any government with which the UuiteC
States has or may have diplomatic relations
to the end that any differences or d.s
pu es arising between the two govern
matte agency may be referred 10 arbitratluu
and be peaceably adjusted by such means .
April IL, 1899. the inlerna tional American con
the wish that all controversies between the re-
publics Of America and the nations OF kurop.
might be settled by arbitration, and recon
represented in that conference should commu.
nicate this wish 10 all friendly powers
favorable response has beeu received from
Great Britain IN the shape OF u resolution,
adopted III parliament July IL last curulaIy
sympathizing With The purpose IN VIEW ana eX
pressing The hope that her majesty govern
ment Will lend ready cooperation 10 the govern
ment OF the United States upon the basis of III,
concurrent resolution above quoted 1t affords
me sgnal pleasure 70 lay tu.s parliamentary
resolution before the Congress, ard 10 express
my sincere qualification that the sen liment OF
two great and kin1red nations is thus uuthort
tatively manifest in favor Ut the rational and
peaceable settlement OF International QuarreIs
by honorable resort to arbilrau ZION.
Grade of Foreign ENJOYS Raised.
Since the passage OF the act OF March g. 1898
authorizing the president to raise the grade o.
our ENJOYS to correspond with the rank il
which foreign countries accredit their agen t.
here, Great Britain. Frantic Italy ana Ger
many have conferred upon their representa-
tives ut this capital the title OF ambassador
AMI have RESPONDED NY accreullng lie agen
o. the United States in Those countries Wall
the same ute
Russia, and when maize wtll be- similarly me |
This step tiltldgly cVmpVrls with tne pOsiltou
the United States holds IN the faulty of u;I
lions. During my former admins III; zion TOOK
occasion 10 recommend u reCaSL OF the laws re-
latlny TO The consular sery've in order thai il
might become q more efficient agency in The
promotion OF the lutereS Is it was intended u
subservo. The duties anu powers OF consul.
have been ,xpanded with the growing require
ments Of our lorsign trade Dlscharglny IN
portant duties affecting our commerce anC
American citizens abroad, and in certain coull
tries exercising judicial functions, these Oil
GERS should be men Of character, intelligence
and ability.
Copyright Extended to Denmark.
Upon proof that the Legislation Of Denmarl
secures copyright to AmerlcsIu cllizeus Oh
equal footing with It's own, the privileges OF GU.
Copyright laws have been extended by procll
nation to subjects OF thai country.
Financial statement.
The secretary Of The treasury reports tina
the receipts Of the government from ali sources
amounted to a46i. 7l6 561 "a ana It's expenditures
to Ass. 37467429. There vas collected from
customs - $50 ~. 70 and from internal rev
enue sl6l.os7,639t OGr dutlable Imports
amounted to AL. 1855 I'll. an increase OF a5@ 4,3
eO7 over the Preceding year, and importau ons
free Of duty amour ted to s444 81 2lj. decrease
from the preceding year Of sl3 415.lE. Internal
revenue receipts exceeded tLose OF the proceed.
ing year by S7.ll7.4l5 81
The total tax collected on distilled spirits
wes S94, 26O IS: on mauufaclur tobacco
sSl SS9.7ll.74. and on fermented liquor. s32,5lS
eSaW. We exported merchandise during the
year amounting 10 Ss47 6j5, 1914, decrease Vi
sls2 6ls,9o4, from the preceding year. 1he
previous year In the history OF the government
amounting TO sos. 68J, 844, and exceeding the
amount exported during the preceding year BY
S53. 49,, SIT.
The sum paid from the treasury for sugar
bounty was 1915, SO, an increase over The
preceding year or az,u35, o53 o.
Estfm ties.
It Is estimated upon the basis OF present rev
enue laws that the receipts OF the government,
for the year ending June d. 1891, will be s43J
!2l, 3o5 SO and its expenditures ass 2lsS. 49, re-
sult.ng deficiency OF .28UOU,UE
Our Circulation
On the hrst day OF November, 1883 tbs
amount Of money OF all kinds in crcu.a ton, or
not included in treasury holdings, was Sl.7l8 SIT
6S2, an increase for the year OF ill:,44,9H Es-
.timating our population at 81, 1926 700 at the time
mentioned the per capita circulation was a25 49,
On the same date there was in the treasury
gold bullion amounting to sas 657,273 and silver
bullion which was purchased at q cost OF sl2d-
26l.5aa
Silver Bullion Purchases.
The purchases OF silver under the law Of July
H. 1890, during the last fiscal year, aggregated
&54,Oos, 1889 hne ounces, which cost AS 5s1,
37l.53. The total amount Of silver purchased
from the time that tax became operative until
the repeal of it's purchasing clause on the LIST
fine OUNCES, WHICH S s eoss SsSst
etOs4. Between the lst day Of March.
1873, and the LIST day OF November. 1893
the government purchased, under all laws, 5,s,
fine silver a a of >
948, The silver dollars that have been coined
under the act Of July IT, 1890. number 49, OS7 2s5.
The seig a arising from such coinage was
:6aT7, o98.39. leaving on hand in the minis H.
699, $50 fine ounces OF silver which.cost s1-6 7o8
Coinage st.tistios.
Our total coinage Of all metals during tho last
FISCAL year consisted Of o. 2sJ s7o pieces. valued
1t SAB 69 $780, sf which there was $780, 038 IA in
In subsidiary silver coins and sl,Os3, luz 80 IN
minor coins During the calendar year 1892
The production OF precious me tails in the United
States was estimated to be l,5y6,375 fine
ounces of gold OF the commercial and coinage
value Of S33 0OO 0)0 and S. UUJ 0UO mine ounces OF
silver OF the bullion or market value of $50.
1t Is estimated that on the lst day of. July,
1893, the metallic stock OF monoy In the United
States. consisting OF coin and ,ullion. amour ted
to $50, 1882 OF which $50, S97, 6S5 was gold
and soils, 1861, 1874 was silver.
New and Suspended Banks.
One hundred and nineteen national banks
were organized during the year ending October
81, 1893, with d capital Of Sll.230,000 Forty-siz
went into voluntary liquidation and 15S sus
pended Sixty-tive OF the suspended banks
were insolvent,. eighty-six resumed business
aminers. with prospects OF speedy resumption
OF the ban organized forty four were
located in 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 existe on the 3lst day o.
October. 1923 was 3,796. having an aggregate
culation of these banks during the year was
a36 88i,972
Repeal of the Silver Purchasing Clause.
The recent repeal Of the provisions of Law
requiring The purchase OF silver bullion b" the
government as feature OF our monetary
scheme has made an entire change in the com
plexion OF our currency affairs do not doub
that the ultimate result Of this action will bt
OF things, however, 1t ia impossible to know
at this time precisely what conditions will bt
supplementary legislation NAV, in the light o.
such conditions, appear to be essential or ex
pedient
Confident of the Future.
OF course, after the recent financial perturba
ton, time is necessary for the reestabishmen
of business confidence. When. however
through this restored confidence the money
which has been frightened into noardiug places
is returned to trade and enterprise, survey O
the situation win probably disclose q safe patti
leading to permanently sound" currency
aOuuuautly SuuClenG 10 IueeL every require
mont Of our increasing population anu bust
ness. In the pursuit of this object we shoult
resolutely turn away from alluring ant
temporary expedients. determined to be con
tent with nothing less than Il lasting aud com
prehensive financial PLAN In these circup
stances am convinced that reasonable delay
10 dealing with this subject instead OF being In
furious, will increase the probability Of wise
action.
The Monetary Conference.
The monetary conference >llicb assembled a.
Brussels upon our invitation was adjourned tt
the 3Oth day OF November in. the present year
The considera tons just stated ana the fact tina
a definite PROPOSE ioI from US seemed to be ex
pected upon the :eassemDiing OF the conference
led me to express Willingness to have the
meeting still further postponed. II seems t.
me that itwould be wise to give general uthori
ty TO the president to invite other nations Il
such conference at any time " hen there
should be fair prospect Of accomplishing al
International agreement on the subject O.
coinage
Recommendation Regarding Bonds.
desire also to earnestly suggest the wisdom
Of amending the existing statutes in regard II
the issuance Of government bonds. The au
thOrity now vested in the secretary OF The
treasury to issue bonds is not as clear az i
should be, and the bonds authorized are dtsad
vantageous TO the government both as to the
time OF their maturity and rate Of terest
TnmiY ton StatfStlca.