The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1893-12-08


seems to me the only honorable course for our
government TO pursue was to undue the wrong
that had been done by those representing US,
and to restore as far as practicable the status
existing at the time of our forcible interven-
ton.
With view of accomplishing this result
within the constitutional limits Of exec tive
pc er, and recognizing all our obligations
and resi- onsibilities growing out of any
changed conditions brought about by our I'M
Just fable int ference, 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-
Ceived they will be promptly sent to the con-
gress, together with all other information at
hand, accompanied by a special executive
message fully detailing all the facts necessary
to a complete understanding of the case, and
presenting history of all the material events
leading up to the present situation.
Arbitration VIII. re Diplomacy Fails.
By a concurrent resolution passed by the
senate Feb. IA, 1890, and by the house on
April following, the prcsi lent 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
differences o. disputes arising between the
two governments which cannot be adjusted
by diplomatic agency may be referred 10
arbitration and be peaceably adjusted by suoh
means"
April Is, 1890, the international American
conference of Washington, by resolution, eX-
pressed the wish that all controversies be-
tween the rel lblics Of America and the ma
tions of Europe might be settled by arbitra-
Hon Nd Iol haN h. ,anf
of each 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 16 last,
cordially sympathizing with the purpose in
view, and expr assing 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.
Onr Ambassadors.
Since the passage of the act Of March 8,
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 accTedit-
ing the agents If 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 the
family of nations.
During my former administration took &C.
casion to recommend recast Of the laws re-
lating to the consular service, in order that 1t
might become a more efficient agency in the
promotion of the interest it was intended to
subserve. The duties and powers Of consuls
have been expanded with the growing require
ments of our foreign trade. Discharging i'm
portant duties affecting our commerce and
American citizens abroad, and in certain
countries exercising judicial functions, these
officers should be men of character, intelli-
gsnce and ability.
Revenue Figures.
The secretary of the treasury reports that
the receipts of the government from all
sources during the fiscal year ended June 30,
1893 amounted to S481, 10 58l.94, and its eIpen-
ditures to S459, 374 674.29. There was collected
from customs $205, 355, DIG. 49, and from internal
revenue $161 OF, $685. Our dutiable imports
Imports amounted to $40, S56.711, an increase
Of $50, ,907 over last year, and importations
free of duty amounted to S444, 211, de-
crease from The preceding year Of Sl3, 455, Az.
Internal revenue receipts exceeded those Of
the preceding year by S7,147,445S2,
The total tax collected on distilled spirits
was S94, 72O, 26O55. On manufactured tobacco
81, 8S9, Tll.74, and on fermented liquors S32,-
64S,9S3.07. We exported merchandise during
the year amounting to sS47, 665, 1914, decrease
of S1S2, 6l29G from the preceding year. The
amount of Fold exported was larger than any
previous year in the history Of the govern
ment, amounting to Sl0S,6S0,6O4 and exceed
ing the amount exported during the pre-
ceding year by $5S, 1857. The sum paid
from the treasury for sugar bounty was So
375131.Ss, an increase over the preceding year
of s., G33, 053.O9.
1t is estimated upon the basis OF present
revenue laws that the receipts Of the govern
ment for the year ending June 3, 1894, will be
$780, l2l, COS SO, and its expenditures Si5S,l2l.-
$685. resulting in deficiency of s2s,0N,NN
On the first day of November, 1893, the amount
of money Of l kinds in circulation, or not in
cluded in treasury holdings, was $l,7ls,5i4.6S2,
an increase for the year of SIP, A4947. Esti-
mating.our population at g., I28, 900 at the time
mentioned, the per capita circulation was
$3.50. On the same date there was in tho
treasury gold bullion amounting to So, 651,213
and silver bullion which was purchased at a
cost OF Sl26,2jl,5 $50.
Dealings In Silver.
The purchases of silver under the law of
July Il, 1890 during the last fiscal year, aggre-
gated 54,COS, lG2.59 fine ounces, which cost
81, ,374.53. The total amount Of silver pur-
chased from the time that law became opera
tive until the repeal of it's purchasing clause
on the first day of November, 1898, was 1885,
074. 40 fine ounces, which cost Sl55 $3.50, 9l0SL
Between March /. 1873. and Nov. /, 1893, the
government purchased, under all laws, 53, 003, :
III fine ounces of silver at cost Of $685. 555
The silver dollars that have been coined under
the act Of July IA, ls9), number S6,0s7, 2S5. The
seigniorage arising from such coinage was
S8,077, O9S.39, leaving on hand in the minis
140,699,7 60 fine ounces Of silver, which cost
Sl26, 15s,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 a 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, il Is i'm
possible to know at this time precisely what
conditions will be brought about by the
Dhange, or what, II any, supplementary legis-
lation may, in the light OF such conditions, ap-
pear TO be essential or expedient. or course,
after the recent financial perturbation, time
is necessary for the establishment of bust
ness confidence. When, however, through
this restored con fidence, the money which has
been frightened into boarding places is re-
turned TO trade and enterprise, survey Of
the situation will probably disclose safe path
leading to a permanently sound currency,
abundantly.
Government Bends.
Idesire 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