Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1893-12-07

ucable the status existing at the time of oul
plishinG this result within the constitutional
limits OF executive power and recognizing all
our obligation and responsibilities growing
out OF any changed conditions brought by oul
unlus tidable interference. our present minister
at Honolulu has received appropriate instruc
lions to that end
A Special Message Forthcoming.
Thus FAR no information OF the accomplish
ment OF any definite results has been received
from him. Additional advices soon ex
pected. When received they viii be promptly
sent to the congress, together with all other in
formation at hand, accompanied by special
executive message fully detailing all the facts
necessary to complete understanding of the
case, and present ting a history Of all the materi
81 events leading up TO the present situation
Favorable to Arbitration.
BY concurrent resolution, passed by the
senate February IA, 1899, and by the house OF
representatives on the Sd of April following the
president was requested to invite, from time tC
time, as lit OCCASIONS may arise, negotiations
with any government with which the United
States has or may have diplomatic relations
to the end that any differences or dis,
puies arising between the two govern
ments which cannot be adjus ted by dipO-
matte agency may be referred to arbitra ton
ana be peaceably adjusted by such means .
April IL, 1880, the international American con.
ference OF ashlngton Dy resolution expressed
the wish that all controversies between the re-
publicS Of America and the nations of Europe
might be settled Dy arbitration, and recon
mended that the government of each nation
represented in that conference should commu-
ntcate this wish to all friendly powers
favorable res onSe has been received from
Great Britain in the shape of resolution
adopted IN parliament July 10 last cordially
sympathizing with the purpose in view, and eX-
pressing the nope that her majeSty'S govern
ment will lend ready cooperation to the govern
ment Of the United States upon the basis of the
concurrent resolution above quoted 1t affords
me signal pleasure to lay this parliamentary
resolution before the congress, ard to express
my sincere qualification that the sentiment of
two great and kindred nations is thus authori-
tauvely manifest in favor OF the rational and
peaceaDle settlement of international quarrels
by honorable resort to arbitration.
Grade of Foreign ENJOYS Raised.
SiLce the passage OF the act of March j, 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 Ger
many have conferred upon their representa-
tives at this capital the title OF ambassador
and have responded 10y accrediung the agent
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 ittngly COMFORTS with the position
the United States holds in the family of ma
lions. During my former admins tration took
occasion to recommend recaSt Of the laws re-
latng TO the consular service in order that it
might become more efficient agency in the
promotion of the interests it was intended to
Subserve. The duties and powers of consuis
have been expanded with the growing REQUIRE
ments OF our foreign trade. DiScharging i'm
American citizens abroad and in certain coun-
tries exercising judicial functions, these Off
GERS should be men OF character, intelligence
and ability.
Copyright Extended to Denmark.
Upon proof that the legislation Of Denmark
secures copyright to American citizens on
equal footing with its own the privileges of our
Copyright laws have been extended by procla-
nation to SUBJECTS Of that country.
Financial Statement.
The secretary of the treasury reports that
the receipts Of the government from all sources
during the fiscal year ending June 80, 1893
amounted to 1851, 716 SOL "a and It's expenditures
to 1853, 374, 67429. There was collected from
customs ga, $50, 0l6 70 and from internal rev
amounted to $421 $50, III an increase Of S5a 453-
eO7 over the preceding year, and impor ia tons
Tree or duty amounted TO S444, 544, 21I decrease
from the preceding year of S13, ass 447 Internal
Ing year by 81 AZ 81
The total tax collected on distilled spirits
Wss IVA, ~, 26O. 55; on manufactured tobacco
S3l $50 7ll.74, and on fermented liquor, S32 SAB
eeaW. We exported merchandise during the
year amounting to Ss47, 665, 1874, decrease of
slSa, s54 from the preceding year. The
amount of gold exported was larger than any
previous year in the history of the government
amounting to sos sO,s44, and exceeding the
u.s. hs * poF'eo curing the preceding year by
The sum paid from the treasury for sugar
bounty was 1875 1870 SO, an increase over the
preceding year Of S2,0S3, 05305
1t is es timated upon the basis of present rev.
enue laws that the receipts of the government
for the year ending June 3d. 1894, will be $3.50, :
l21 1855. 3S and it's expenditures S458 121 365 re-
sultng in deficiency OF s28, 100000.
Our Circulation.
On the first day Of November 1893, the
amount OF money Of all kinds in circulation, or
not Included in treasury holdings, was ST. 71S 544-
$50, an increase for the year of S112 4O4 947 Es-
at1ng our population at 81 ,426 00O at the time
mentioned the per capita circulation was a25 49,
"a II in tho
gold bullion amounting to S96 657, 273 and silver
bullion which was purchased at a cost of $l26-
e6l.55a
Silver Bullion Purchases.
The purchases Of silver under the law of JULY
"A, 1880, during the last fiscal year, aggregated
s54 00S, lo2. SO fine ounces, which cost s45, $751;
sne3 The total amount of silver purchased
from the time that tax became operative until
the repeal OF its purchasing clause on the lst
DAY of November, 1898, was s16S, 874,-
ssoas fine n ounces, which cost sl55, $50
1873, and the 1st day of November 1893
the government purchased under ali laws, $685.
a8 The silver dollars that have been coined
under the act Of July IA, 1890, number So O87 2S5
The seignlorage arising from such coinage was
1927 SO, leaving on hand in the nints 49,,
e. 100 fine ounces of silver ~htch'0s' 'las7's-
Coinage Statistics.
Gar total coinage of all metals during the last
fiscal year consisted of 1880, 875 pieces, valued
at S43 68 178 &c. of which there $50 938 $40 in
gold coin S5 343 rs in silver dollars s217 22o 90
in subsidiary silver coins and 81 0S6, 102 80 in
minor coins. During the calendar year 1899
the production of precious metals in the United
States estimated to. be 1,596,375 fine
ounces of gold OF the commercial and coinage
value of $685. 900 900 and IS 0u0 900 mine ounces of
silver of the bullion or market value Of S50,-
$50, 600 and of the coinage value of S74, $3.50 800
1t is estimated that on the 1st day of July,
1893 the metallic stock of money in the United
States, consisting OF coin and bullion, amounted
to 1928, $50 169 Of which 1897 697 6S5 was gold
and S6l5, 1851, 484 was silver.
New and Suspended Banks.
One hundred and nineteen national banks
were organized during the year ending October
went into voluntary liquidation and 158 sus-
pended. Sixty-fve of the suspended banks
were insolvent, eighJy-six resumed business
and seven remained in the hands Of bank ex-
aminers, 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 national banks in exiSte on the 3lst day Of
October 1893 was 5,795 having an aggregate
euation of these banks during the year was
t36 9S6, 942
Repeal of the Silver Purchasing Clause.
The recent repeal of the provisions of law
requiring the purchase Of silver bullion b. the
government as a feature of our monetary
scheme has made an entire change in the COM
pleXion of our 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, it ia impossible TO know
at this time precisely what conditions will be
brought about by the change, or what, if any,
supplementary legislation may, in the light Of
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 rees tablis hment
of business confidence. When however,
through this res stored confidence the money
which has been frightened into boarding places
is returned TO trade and enterprise, survey OF