The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-12-04

LAX 4I1 Jul OOktk0ttono hG0
ties growing out of any chanR sd condi-
tlons brought o by our unjustlhable
interference, our present Minister at
Honolulu has received appropriate 1n-
structious to that end. Thus far NJ in
formation of the accomplishments of any
definite results has been received from
him.
Additional advices are soon expected.
When recsived they will be promptly
seut to the Congress together with all
other Information at hand. accompanied
by a special Executive message fully de-
failing all the facts necessary TO a som
plets understanding OF the case, aud pre-
seniing q history OF all the material
events leading up to the present situi-
ton.
NATIONAL FINANCE.
Here is the full ext of the passages
referring to National finances in general
and the silver question in partic ular:-
The Secretary OF the Treasury reports
that the receipts OF the Government from
all sources during the fiscal year ended
June 30. 1898. amounted to 1861. 7l6, psi 81
and its expenditures TO $459, 374 67+.29
There was collected from customs $685.
355. 0l6. 70 n from internal revenue Slol,-
027, 623. 90. Our dutiaale IMPORTS
amounted to $42l. S56. I'll. an increase of
&O@, 1COs COt ONCI II pL0SC0Abh J0aAa oao
lmDortations free of duty amounted TO
S444, 544, 211. adecresse from the preceding
year, of S13, 455, Az. Internal revenue
receipts ex eeded those Of the preceding
year by 81, lat. AS. 80.
The total tax collected on distilled
spirits was $94, 100, 260 So. on mauufac-
tured tobacco, $31, $50 I'll "a. and on fer
mented liquors, $50, 5s4, 9S3 or. We ex-
ported merchandise during the year
amounting to SS4T ,665. 1874. a decrease OF
OF SlS2. 6l2, 1854 from the preceding year
The amoun Of gold exported wa larger
than any previous year In the history OF
the Government. am quitting to Sl05 $780,
S44. and exceeding the amount exported
during the preceding year by SIS, 485. 517-
The sum paid from the Treasury for
sugar bounty was S9.315. 1908 an ln-
crease over the presiding year OF S2,033.-
053 90.
Il is estimated upon the basis of pres
ent revenue avs that the receipts OF the
Govern ment for the year ending June 30.
1894. Will be $43o. 12l, S65. IS and It's expsnd-
lures Sass. 12l. 1865. 50. resulting in a de,
ticiency of $2S, O00. 900.
N IN CIRCULATION.
On the first day OF November. 1893. the
amount OF mousy OF all kinds in circula.
ton, or not Included in Treasury hold
iRgs, was 81. us. 544.6S2. an increase for
the year of S112. 4o4. 947. Estimating our
populhtlOu a. Ofs7~O.uUO ~ luo tlme A1eu-
toned the per capita circulation was
$25 40. On the same date there was in
the Treasury gold bullion amounting to
500. 657, 273 and silver bullion winch WAS
purehassd AZ q cost of Sl26, 261 $50.
The purchases of silver under the law
of July IA. 1890. during the last fiscal
year, aggregated 81 o08, 1862. SO fne ounces,
which cost $45.5Sl. 374: SO. The total
amount of silver purchased from the
time that law became operative until the
repeal Of It's purchasing clause, on the
first day of November, 1893. was 16S. GA
590.46 fine ounces. which cost $155, $780,
94O.S4. Between the first day of March.
1878, aud the first day of November. 1898.
the Government purchased, under all
cost of $516, 622. 948. The silver dollars
that have been coined under the act of
July II, 1890. number 3S.oS7,2S5 The
seigniorage q Using from SUCH coinag
was $6,977. 098. 80 leaving on hand in the
mfnts 140. 69g, $50 fine ounces OF silver.
which cost $l26. 1858. 218.
Our total coinaGe OF all metals during
the last fiscal year consisted of 1880. S75
pieces, valued atss43. 6S5, 1884, SO. of which
there was $50, 03s, 40 in gold coin, s5.343.-
us in silver dollars, ST. I7, goo. 80 in subsi>
diary silver coin, u $l,0S6, 102. 30 in
minor coins.
During tha calendar rear 1892 the pro-
duct1eu of precious metals in the United
States was estimated to be 1.596,375 fine
coinage value OF S33 DOC, 600 and $1,000. 900
fne ounces of silver of the bullion or
market value of CSC, $50, 600 and of the
coinage value of $74. $50. 300.
IL is estimated that on the first day OF
July, 1898, the metallic stock of money
in the United States, consisting OF COIN
and bullion. amounted to ST. 13. $50. 1859.
- xvhfob eS05 e07 COZ mo GOLD onh GRIE
S61, 484 was silver.
NATIONAL BANKS.
One hundred aud nineteen ma
tioual banks were organized during
the year ending October 81, 1898, with a
capital of $11. $50, 900. Fortx-six went
into voluntary liquidation and one huo-
ared and fifty-eignt suspended. Sixty-five
of the suspended were insolv. mt. eighty
six resumed business, and seven remain
IN the hands of bauk examiners, with
prospects of speedy resumption. OF the
new banks ergaaizad, A were loeased in
the Eastern States. Al west of the Missis-
slppi River, aud "a In the Central and
Senthers States. The total nunbe Of
n~atienal banks In existence en- che 31ss
aggregate capital Of $685.. SIS, 40. The Set
increase in the cireulatioa OF these banks
during the year was $50. $50. 972.
SILVER REPEAL
This recent repeal Of the provision of
law requiring tAe purchase Of silver
bullion by the Government as 4 fsatars
OF our monetary scheme. 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 aalutary aRd fsr-Teachipg. In the
nature uf things, however, 1t 10 impos-
slble to know at this time, precisely what
conditions will be brought about by the
change. or what, IL my supplementary
legislation may, In the light.of such con-
ditions, appear TO be essential or ex-
pedient. or course, after the recent
financial perturbation, time is necessary
for tue rssestablishment of business
confidence. When, however. through
this restored confidence the money which
has been frightened into boarding. places
is returned to trade aud enterprise, a
survey of the situation will probably
disclose q safe path leading to q per-
manently sound currency, ~abundantiY
sufficient to meet every requirement of
our increasing population aud business.
PERMANENT SETTLEMENT.
In the pursuit Of this object We should
resolutely turn away from aIluring and
Temporary expsdisnts. determined TO be
content with nothing less than a lasting
and comprehensive financial plan. In
these circumstance / am convinced that
n reasonable delay in dealing with this
subject, instead of being injurious. will
increase the probability Of wise action,
Ghe Monetary Conference which as
sen Died Mt Brussels uoon our Invitation
WAS adjourned TO the Both day OF Novem-
Der In she present year.. The coRsidera.
tions Just stated and tbe facs that a
deisiis proposition from us seen ed to
be expected upon the reassembliuR of the
conference, led me to express 8 wiling
ness to have the meeting still further