The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1893-12-13

was estimated TO De ,5So so nn6 0un
ces of gold of the commercial and coin
age value of $33 100000, and 58,O00,00C
fne ounces of silver at the bullion OF
market value of $50. .750. 900 and of tat
coinage value Of 374 ,989, 800.
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 81,
213,5 ,16s of which$597, ,697, ,685 was goli
and S615, 1851, ,4S4 was silver. One hun
dred and nineteen national banks were
organized during the year ending Oc.
tober 81, 1893, with 8 capital Of S11,'
100000. Forty-six went into voluntary
liquidation and one hundred and fifty.
eight suspended. Slxty-6ve Of the sus.
pended banks were insolVent, eighty.
six resumed business and seven re-
main in the hands of bank examiners,
with prospects Of speedy resumption
OF the new banks 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
banks in existence on the 31st of Octo.
ber, 1893, was 1886, having an aggre.
gate capital Of $685., ,558, ,120. The net
Increase In the circulation OF these
banks during the year was $36, 1885, BIB:
The recent repeal Of the provision OF
law requiring the purchase Of silver
bullion by the government as q feature
Of our monetary scheme has made an
entire change In the complexion OF oul
currency affairs. I do not doubt that
the ultimate result of this action will
be most salutary and far-reaching. In
the nature Of things, however, 1t Is I'M
possible to know at this time, precisely
what conditions will be brought about
by the change, or what, II any, supple
mentary legislation may, In the light
of such conditions, appear to be esSeR.
tial or expedient. or course, after the
recent financial perturbation, time Is
necessary for the re establishment of
business confidence. When, however,
through this restored confidence the
money, which has been frightened into
boarding places, is returned to trade
and enterprise, survey Of the sttua-
tion will probably disclose q safe path
leading to q permanently sound cur.
rency, abundantly sufficient TO meet
every requirement Of our increasing
population and business. In the pur.
suit of this object we should resolute.
ly turn away from alluring and tempo
rary expedients determined to be con-
tent with nothing less than q lasting
comprehensive financial plan. In these
circumstances I am convinced that q
reasonable delay in dealing with this
subject, instead of being injurious, Will
increase the probability Of wise action.
Tho monetary conference which as
sembled at Brussels upon our invita-.
tion was adjourned to the 30th day of
November Of the present year.
, The consideration just stated and
the fact that defnite proposition
from US seemed to be expected upon
the reassembling of the conference leo
me to express willingness to have the
meeting still further postponed. It
seems to me that 1t would be wise to
give general authority to the President
to invite other nations to such q con-
ference at any time when there should
be a fair prospect Of accomplishing an
international agreement on the subject
of coinage. I desire also to earnestly
suggest the wisdom Of amending the
existing statutes in regard to issur-
ance Of government bonds.
The authority now vested In the Sec
retary of the Treasury to Issue bonds,
is not as clear aslt should be and the
bonds authorized are Instantaneous
to the government, both as to the time
of their maturity and rate Of interest.
The Superintendent of immigration
through the Secretary Of the Treasury,
reports that during the last fiscal year
there arrived at our ports 440, ,730 immt-
grants, of these 1858 were not permit.
ted to land under the limitations Of
the law, and 577 were returned to the
countries from whence they came, by
reason of their having become public
charges. The total arrivals were l41 .
O34 less than for the previous year.
The Secretary in his report gives an
account of the operation Of the Marine
Hospital Service aud of the good work
done under its supervision in prevent
ing the entrance and spread of conta-
geous diseases. The admouiti0ns of
the last two years touching our public
health and the demonstrated danger of
the introduction Of contagious diseas-
es from foreign ports has Invested the
subject of National quarantine with
increased interest. A more general and
harmonious system than now exists,
acting promptly and directly every
where and constantly operating by pre-.
ventive means to shield our country
from the invasion Of disease, and at
the same time having due regard to
the rights and duties Of local agencies,
would, I believe, add greatly to the
safety Of our people.
The Secretary of War reports that
the strength Of the army on the S0th
day of September last was %, ,578 enlist
ed men and 2,144 officers. The total
expenditures of the department for the
year ending June 80, 1893, amounted to
S51.966,O7489. OF this sum 81, ,992, $751;.
95 was for salaries and contingent ex-
penses, $23, 1871, ,828.35 for the support
of the military establishments, $6,O77,-
O33.18 for miscellaneous objects and
S2O,518,631.41 for public works. This
latter sum includes 3l0,296 .876.46 for
river and harbor improvements and
1926, ,141.2O for Notifications and other
works Of defense. The total enroll
ment of the militia of the several
States was, on the 31st Of October Of
the current year, 112.597 officers and
enlisted men. The officers of the army
detailed for inspection, and not instruc-
tion, of the reserve of our military
force report that increased interest and
marked progress are apparent In the
discipline and efficiency Of tile organi-
zation. Neither Indian outbreaks nor
domestic violence have called the army
into service during the year, and the
only active military duty required of
It has been in the department Of Texas