The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1893-12-13

sspitraran.
By concurrent resolution passed bI
the senate Feb. Il, $500, and by the housl
Of representatives on the Sd of A pril follow
ing. the president was requested ITO in
yite, from time to time as iit occasion may
arise, negotiations with any government
with which the United States has or may
have diplomatic relations to the end thai
any differences or disputes arising between
the two governments which can not be ad
justed by diplomatic agency may be refer
red to arbitration and be peacably adjusted
by such means.
April Is, 1880, the international Ameri.
can conference Of Washington. by resolu-
tion. expressed the wish that all controver
sizes between the republics OF America and
the nations OF Europe might be settled By
arbitration and recommended that the gov.
inient of each nation representa- IN that
conferences should communicate this wisl
TO all friendly powers. A favorable re
sponse has been received from Great Brit.
parliament July l6 last, cordially sym
pathiZing with the purpose In view and ex.
pressing the hope that her majesty's gov.
ernment will lend ready cooperation h
the government of the United States upon
the basis Of the concurrent resolution above
quoted
1t afforCs me signal pleasure to lay this
parliamentary resolution before the con
gress. and 70 express my sincere gratifica.
tion that the sentiment of two great and
kindred nations is thus authoritatiyely
manifested in favor or the rational and
peacea1le settlement of International quar-.
rels BY honorable resort to arbitration-
Ambassadors
Since the passage of the net of March s.
1898. authorizing the president to raise the
grade OF our ENJOYS to correspond with the
rank in which foreign countries accreciit
their agents here, Great Britain, France
Italy and Germany have conferred upon
the Representatives at this Capitol the Ii
tie of ambassador. and have responded by
accrediting the agents of the United Suites
In those countries with the same title. A
like elevation of mission is announced by
Russia and when made viii be similarly
met The step fittingly comports with the
position the United States hold in the fam
lily of nations
During former administration took
occasion to recommend recast of the
Laws Relating to the Consular Service
In order that it might become a more
efficient agency in the promotion of the in
terests 1t was intended to subserye. The
duties and powers of consuls have been ex.
panded with the growing requirements of
our foreign trade. Dischargfng important
duties affecting our commerce and Amerf-
can citizens abroad, and in certain countries
exercising judicial functions. these officers
should be men OF character, intelligence
and ability.
Upon proof that the legislation of Den.
mark secures copyright to American citi-
zens on equal footing with its own, the
vi Jul l1kb6 uaN6 UGGu
extended by proclamation to subjects of
that country
The secretary of the treasury reports
that the receipts of the government from
all sources during the fiscal var ended
June 30, 1898, amounted to S461, ,716, ,56i. 81
and its expenditures to $i59,3T4. .674. 20.
There was collected from customs $205 S55-
DIG. 13 and from internal revenue SI61, ,027,-
623 93. Our dutiRble imports amounted to
1921 $50, Ill, an increase OF $50, ,453 ,907 over
the preceding year, and importations free
of duty amounting 20 $444, ,544, ,211. de-
crease from the preceding year of $I3, 1885,
AL. Internal revenue receipts exceeded
those of the preceding year by S1,147,445.33
Onthe first day Of November, 1898, the
amount of money of all kinds in circula-
tion, or not included in treasury holdings.
was 81, ,T1S. .544, $50, an increase for the year
of S112, ,404, ,94T. Estimating our population
at 81, ,426. 600 at the time mentioned, the per
capita circulation was SIS. 40. On the same
date there was in the treasury gold bullion
amounting to SOC. .65L2 273, and silver bullion
WiIIcn was pufclaseG at Gust o. SI55,26T,-
553.
The purchases ofsilver under the law Of
aggregated 81, ,O0S, ,l65. SO line ounces, which
cost S45. .531, ,3I4.53. The total amount of
silver purchased from the time that the
law became operative until the repeal of
November, 1893, was I6S, 81. $50 46 fine
ounces, which cost $I55, $50, $40 81. Between
the first day of March, 1873. and the first
day of November. 1898, the government
purchased, under all laws. sos, ,0O3 III fine
ounces of silver at a cost of S5lS. S.622 .94S.
The silver dollars that have been coined
under the act of July II, 1890, number
3, ,Os7, ,2S5. The seigniorage arising from
hand in the mints 140, ,699, ,760 fine ounces of
silver, which cost Sl26, ,75s, ,21s
Our total coinage of all metals during
the last fiscal year consisted of 81, ,2s5,-
Haf .,f,.- x.
there are $50, OBS, 40 in gold coin, $5 343, ,7l7
in silver dollars, $7,217, ,220 80 in subsidiary
silver coin, and 81 ,0S3, 102 80 in minor coins
II Is estimated that on the first day of
July, 1888, tie metallic stock of money in
the United States, consisting of coin and
bullion, amounted to 1928 559, ,I69. of
which S59I, ,69I ,6S5 was gold and $615 5,S61, ,4S4
was silver.
requiring the purchase of silver bullion by
the government as feature of our mon
etary 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 salutary and far
reaching.
In the nature of things, however, it is
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 con-
ditlons, appear to be essential or expedient
OF course, after the recent financial per-
tablishment of business confidence When,
however, through this restored confidence
the money which has been frightened into
boarding places is returned to trade and
enterprise, q survey of the situation will
probably disclose safespath leading to a
permanently sound currency abundantly
sufficient to meet every requirement of our
Increasing population and business. In
the pursuit of this object we should reso-
lutely turn away from alluring and tenn
porary expedients, determined to be con
tent with nothing less than a lasting and
comprehensive financial plan. In these
enable delay in dealing with this subject
instead of being injurious will increase the
probability of wise action.
The Monetary Conference
which assembled at Brussels upon our in
vitation was adjourned on the 30th day of
November, in the present year
The considerations Just stated and the
fact that a definite proposition from us
seemed to be expected from us upon the re-
assembling of the conference, led us to ex-
press willingness to have the meeting
still further postponed
1t seems to me that It would be wisa-to
give general authority to the president to
invite other nations to such Conference at
any time when there should be a fair pros
pect of accomplishing an international
agreement ON the subject of coinage.
desire also to earnestly suggest the wis
dom OF amending the existing statutes in
regard to the issuance of government bonds.
The authority now vested in the secretary
of treasury to issue bonds Is not as clear as
1t should be, and the bonds authorized are
disadvantageous to the government both
as to the time OF their maturity ard rate of
interest.