The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1893-11-15

ton.
With a view of accomplishing this result
within the constitutional limits of executive
power, and recognizing all our obligations
and responsibilities growing out of any
changed conditions brought about by our un-
Justtfiable Interference, our present minister
at Honolulu has received appropriate in
structions to that end. Thus far no informa-
ton of the accomplishment of any definite re-
suits have been received from him. Addi-
tional advices are soon expected. When re-
celved they will be promptly sent to the con-
gress, together with all other information at
hand. accompanied by "A special executive
message fully detailing NIL the facts necessary
to a complete understanding of the case, and
presenting a history of all the material events
leading up to the present situation.
Arbitration Where Diplomacy Fails.
By a concurrent resolution passed by the
senate Feb. II, 1890, and by the house on
April 3 following, the president was requested
ITO invite, from time to time. as fit occasions
may arise, negotiations with any government
With which the United States has or may
nave diplomatic relations, to the end that any
differences o: disputes arising between the
two governments which cannot be adjusted
by diplomatic agency may be referred TO
arbitration and be peaceably adjusted by such
means"
conference of Washington, by resolution, ex-
pressed the wish that all controversies be-
tween the republics Of America and the ma
lions of Europe might be settled by arbitra-
ton, and that the government
ofeach nation represented in that conference
should communicate this wish to all friendly
powers. A favorable response has been re-
ceived from Great Britain in the shape of a
resolution adopted by parliament July l6 last,
cordially sympathizing with the purpose in
view, and expressing the hope that her majes-
tvs government will lend ready cooperation
to the government of the United States upon
the basis of the concurrent resolution above
quoted.
Our Ambassadors.
Since the passage of the act of March 3,
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 have conferred upon their repre-
sentatives at this capital the title of am
bassador, and l have responded by accredit- |
ing the agents of the United States in those
countries with the same title.
A like elevation of mission is announced
by Russia, and when made will be similarly
met. This step fittingly COMFORTS with the
position the United States hold in thu
family of nations.
During my former administration I took od
casion to a recast of the laws re
lating to the consular service, in order that
might become a more efficient agency in til
promotion of the interest it was intended
suDSeTNe. Inc uutleS anu powers OF CODSu
have been expanded with the growing requi1
ments of our foreign trade. Discharging il
portant duties affecting our m a
American citizens abroad, and in cert
countries exercising judicial functions, TIL
officers should be men of character, inte
gence and ability.
Revenue Figures.
The secretary of the treasury reports
the receipts of the government from
sOurceS during the fiscal wear epdad Inn
1893, amounted to Si6l, ZIG, 5jl. "a, and its ex
ditures to S459, 314 ,674.9. There was cole
from customs sos, 355,016. Is, and from int
revenue Sl61, or ,62S.93. Our dutiable i'm
imports amounted to Si2l 500. III, an ind
of S52,453,907 over last year, and importd
free of duty amounted to S444,544 ,211.
crease from the preceding year of Sl3,4 Al
Internal revenue receipts exceeded tho
the preceding year by S7,147 1852,
The total tax collected on distilled SD
was 1914, ~, 260.55. On manufactured tob
S3l,S $50, 1l1.74, and on fermented liquors
5iS,9S3.01. We exported merchandise du
the year amounting to SSH 1853, 1874, a deere
of SlS2,6l2, 954 from the preceding year.
amount of gold exported was larger than
previous year in the history of the COVE
ment, amounting to SOS, sO,60i. and exec
ing the amount exported during the p
ceding year by SIS, Asa, 81. The sum pd
from the treasury for sugar bounty was 9
375,13).SS an increase over the preceding yd
of S2,055,0J}.09
1t is estimated upon the basis of prese
revenue laws that the receipts of the covert
ment for the year ending June 3, 1894, will v
$40, ~, 365 3S, and its expenditures Si5S, l21
365.3S, resulting in Il deficiency of SIS, G00,0 0
On the first day of November, 1893, the amour
of money of all kinds in circulation, or not in
cluded in treasury holdings, was 81, 7ls,544,6Sd
an increase for the year of SIP, i04, 947. EST
mating.our population at g., $4,000 at the timd
mentioned, the per capita circulation was
$3.50. On the same date there was in the
treasury gold bullion amounting to S96, 657, 273}
and silver bullion which was purchased at al
cost of Sl2d,2 6l ,553.
Dealings In silver.
The purchases Of silver under the law of
July II, 1890, during the last fiscal year, aggre-
gated 54,00S, 1928 fine ounces, which cost
S45,53l ,37+.G. The total amount of silver pur-
chased from the time that law became opera
tive until the repeal Of its purchasing clause
on the first day of November. 1893, was 16s,-
GA. 800. 46 fine ounces, which cost Sl55, $50, 9iO.S4.
Between March |, 1873, and Nov. !, 1893, the
government purchased, under all avs 500, 0OS,-
III fine ounces of silver at a cost of S5l6, 6l7, $50.
The silver dollars that have been coined under
the act of July II, 1890, number 36,0S7 ,2S5. The
seigniorage arising from such coinage was
S6,977 ,O9S.39, leaving on hand in the minis
1868, 100 fine ounces of silver, which cost
Sl26, ,5S,2lS.
Repeal of the sherman Law.
The recent repeal of the provision of law re-
garding the purchase of silver bullion by the
government as n feature of our monetary
schems has made an entire change in the
complexion of our currency affairs. | do not
doubt that the ultimate result of this action
will be most ~salutary and far-reaching.
In the nature of things. however, it Is i'm
possible to know at this time precisely what
conditions will be brought about by the
change, or what, If any, supplementary legls-
lation may, in the light of such conditions, ap-
pear to be essential or eXpedient. OF course,
after the recent financial perturbation, time
Is necessary for the re-establishment of bust
hess confidence. When, however, through
this restored con tidence, the money which has
been frightened into boarding places is re-
turned to trade and enterprise, a survey of
the situation will probably disclose a safe path
leading to II permanently sound currency,
abundantly.
Government 10 IDS.
desire also to earnestly suggest the wisdom
of amending the existing statutes in regard to
the issuance Of government bonds. The au-
thority now vested in the secretary of the
treasury to issue bonds is not rs clear as it
should be, and the bonds authorized are dis
advantageous to the government, both as the
time of their maturity and rate of interest.
Immigration
The superintendent of immigration, through
the secretary of the treasury, reports that dur
Ga. t1.1 pgt aarnl nup tLnNs. an rpfxyaI 81 .-.