The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-12-05

great ana Rlnured nations ~ tnuH
authoritatively manifested in favor OF
the rational and peareable settlement OF
international quarrels by honorable re-
sort to arbitration.
DIPLOMATIC PROMOTIONS.
Since tho passage Of tho act OF March,
1898 authorizing the President to raise
I the grade OF our ENJOYS to CORRESPOND
with the rank in which foreign coun-
tries accrcdit their agents here, Great
Britain, France, Italy aud Germany
nave conferred upon their representa-
,ives at this capital the tiile Of Nnhas-
sadors. and have RESPONDED by @.ltcd-
iting the agents OF the United States in
those countries with the same title. a
like elevation OF mission is announced
by Russia, aud when made will be SINH
larry met. This step fittingly compofts
with the position the United States
hold in the family Of nations.
During my former administration l
took occasion to recommend react o
the laws relating to the consular SER
vice, in order that IL might become
moro efficient agency in the promotion
OF the interests it was intended 10 sub
serve. The duties a1d powers Of con-
su!s have been expanded with the
growing requirements OF cur foreign
trade.
OUR FINANCES.
The secretary OF tine treasury reports
that the receipts of the government
from all sources during the fiscal yeaE
ended juno 80, 1898. amounted to sl6l,-
1866 IS aud its expenditures to Sio0,-
374,6Ti 30 There WAS collected from
customs sos, 355,01G IS. and from in
ternal revenue SiGl,027,623 %. Our
duliable imports amounted 10 S42l,S5G,-
III, an increase oil So, 45S,0JI over the
preceding year, and importations Tree
OF duty amounted to Siii, jl4,2ll, do
crease from tho preceding year oil
l3,4j5,4iT. Internal revenue receipts
exceeded those OF the preceding year
by 81, 147, 445 81.
The total tax collected on distilled
spirits was sos, 720, 26055. on manufac-
tured tobacco So, SS0,7ll.74. and Oh
fcrmented liquors So, 54S, 0S30l. We
exported merchandise during the year
amounting to SSH, 665, l04, decrease oil
$lS2G g5i from the preceding year.
The amount OF gold exported was larger
than any previous year in the history
OF the government, amounting to SlOS,-
GS0S44, and exceeding the amount e&-
ported during the preceding year by
S5S,4S5,5l7. The sum paid from the
treasury for sugar bounty was $500
l30.SS, an increase over the preceding
year OF s., o3S,053.09.
1t is estimated upon the basis OF pres
ent revenue laws that the receipts oil
the government tor the year ending
June 30, 1891, will be $3.50, l2l, 800 IS
and its expenditures S45S, l2l 1865 IS, re-
suIting in deficiency OF S2S,009,00J.
On the first day OF November, 1898,
the amount OF money OF all kinds in cir
culation or not included in the treasury
holdings was 81, ,6S2, an increase
for the year OF Sll2.404,047. Estimating
our population Mt 81 $4,000 ut the time
mentioned the per capita circulation
was SIS 40. On tho same date there
was in the treasury gold bulIionamount-
ing to S06,B57,273 and silver bullion
which was purchased NJ q cost OF Sl26,-
2Cl ,553.
The purchases OF silver nader the la%
OF July II, 1890, during the last fiscal
year, aggregated 5i0OS, 1928 fine
OUNCES, which cost 45,5Sl,S7i So. The
total amount of silver purchased from
the time that law became operative I'M
til the repeal OF its purchasing clause,
OH the lst day OF November, 1898, was
S,G74. 500.4G fine ounces, which cost
Slj5, 9SO040 ST. Between the first day
day OF March, 1878, and the first day OF
November, 1893, the government pur-
chased, under all laws, 50}.003,7l7 fine
ounces OF silver at q cost OF S5l6, 90, OiS.
The silver dollars that nave been coined
under the act OF July ii, 1890, number
SG,OS7 $50. The seigniorage arising
from such coinage was G,977, 00S.39.
leaving on hand in the minis lao, 500 $50
fine ounces OF silver, which cost
$l2G,75S,2lS.
Our total coinage of all metals, during
| the last fiscal year, consisted Of 1885,
S75 pieces, valued at S43,6S5, us 50, of
which there was S30,03S, $50 in gold coin,
Sj,343. 7l5 in silver dollars, 7,2l7 go 90
in subsidiary silver coin aud $685.
l02 30 in minor coins.
During the calendar year, 1892, the
production OF precious metals in the
United States was estimated to be
!, $685. $50 fine ounces OF gold, OF the COM
mercial and coinage value OF S33 900. 900,
and 5S,000,000 fine ounces OF silver, of
the bullion or market vaIas OF $50. $780,
600, and oil tho coinage value OF SO, $685.
900,
1t is estimated on the first day OF
July, 1898, the metallic stock of money
in the United States, consisting OF coin
and bullion, amounted 10 Si,2i3, $50, i69,
OF which 1851, B07, 6S5 was gold and S5l5,-
| S6l, 4S4 was silver. One hundred and
nineteen national banks were organ
lied during tho year ending October 81,
1893, with n capital oil Sll $50. 900 forty
six went into voluntary liquidation and
one hundred and fifty-eight suspended.
Sixtv-fvo of the suspended banks were
insolvcnt, eighty-siX resumed business
and seven remain in the hands of bank
examiners with prospects OF speedy re-
sumption.
OF the new banks organized A were
located in the eastern states, IL west OF
| the Mississippi river, and 81 in the CEN
trail and southern states. The total
number OF national banks in existence
on the 3lst day of October, 1898, was
1896, having an aggregate capital OF
SG9j, 55S, l2O. Tie net increase in the
circulation OF these banks during the
year was SS6,SSG,972.
REPEAL OF THE SHERMAN LAW.
The recent repeal OF the provision OF
law requiring the purchase of silver
bullion by tho government as feature
OF our monetary scheme has made an