The herald-advance. (Milbank, S.D.) 1890-1922, 1893-12-08

WD.W and !S,OOO, 600 fine ounnes of ~ VA.
0I Oh the bullion Or market va,rr of s5e 7I0,-
Wn, and OF the coinage value Of STA !ss1
800
II ls estimated that or the lst 1ay or Ju,v.
Ism, the metallic stoch of money in the
Unfed States, consisting OF coin and hni,on
annsmted to S1.2l3, $40. 100 Of which sIy7
G97. .eso was gold and ssl5 sGl asa was s,i.
yer One hundred and nineteen national
nct 81. 1S'3. with u capital OF $ll 2e0 OOo
Forty-@ix went into voluntary Honidatim
ann l3S suspended. SiSty-tivc Of the sus
pended banks were insolvent e,yhty-s,v 20
sumed business and seven ram,inad In tho
hands OF bank examiners. with prospects or
speedy resumption. or the new banks or.
ganized forty four were located In the East
ern states, forty yone west of the Mississippi
river and thirty-tour ia the Central aud
southern states. The total number of ma
or October 1893. was 319G, having an az
gresnte capital Of $685., a5S 120. The net In
crease In the circulation of these banks
during the year was SIT, $50 D72
silver Purchase Repeal.
The recent repeal Of the provision of law
requiring the purchase Of silver bullion By
the government as feature Of our none
tnry scheme has made an entire change In
lhe complexion OF our currency affairs, and
! DO not doubt that the ultimate result of
this action will be most salutary and far
reaching. In the nature OF things, however.
IL Is Impossible TO know at this time pre-
ciseiy what conditions wiz be brought about
by the change, or what, If any, Supplement-
afy legislation may III the light OF such
pedlent. Of course, after the resent tinan-
ciai perturbation, time Is necessary for
the establishment of business confidence.
When, however, through this restored con-
hdence the money which has been fright
ened Into boarding places Is returned to
traae and enterprise, n survey OF the sit
uation Will probably disclose a safe path
leading 70 peimanently sound currency.
abunuanty sufficient to meet every require
ine!f or our Increasing population and Of
business. In the pursuit OF this object we
should rsointeiy turn away from alluring
ana temporary eXpadlents, determined to he
Content with nothing sesS than y lasting
ana coz prehensive financial plan. In these
on iicumstdnees | am convinced that a r@a-
81 able delay la dealing with this subject.
instead Of being Injurious, will increase the
Probabilities OF wise action.
postOfi1ce Department..
The report OF the postmaster general con-
ta!ns u detailed statement Of the operations
OF The poStotice department during the last
nschl year, and much Interesting lnforni-
ton touching this important frauch Of the
public service. That there was u larger Dis,
crepancy than usual between the poSiofiicc
receipts and expenditures Is the expected
and uhavodale result Of the distressing
strincrncy which has prevailed throughout
tie country during much Of rhe time covered
by the postmaster generals report At a
date when better tins-s were anticipated 1t
was estimated by his pred..ccs sors that the
would be a little over sl,5Oo 900. It
amounted, however, TO u little over $1,000
900. At the same time, and under the In
tuence OF Ike antcinations. estimates were
made for the current fiscal year ending
june 30 1884, which exhibited surplus OF
revenue over expenditures Of SSH, 43.Il;
but now. In view ar the actual receipts
and expenditures during that part OF the cur
rent fiscal year already expired, Tire present
postmaster general estimates thI!, ae Its
close instead of surplus,
There VIII BE I. Deficiency
of nearly $4,000, 900 The postofIioe receipts
for the last fiscal year amounted to S15.ot-
Gs, 16 and Its expenditures to SSl.0I4. lDf9
This postofilce deficiency wouli disappear, or
be immensely decreased il lo.s matter was
carried free through the mails an item Of
which IS upward ef 80 tons Of seeds and
grain from the agricultural denartIneht
The total number Of postoffiees In the
United States on the 3oth day of June, lS'si.
was GS. .403. an increase OF Si over the
preceding year. Or these SOU were pTtsl-
Dental, an increase in that class Of w over
the preceding year. rorty y-two free delivery
Offices were added during the year TO those
already existing making total OF 6fO cities
June 50, 1S93 Nnetv-three other cities ana
towns are now entitled 10 this service IN
der the law, but it has not yet been nc
corded them on account OF insnfhcteht Iohus
to meet the expense OF its estahishmen,, :,
The railway mall service not only al.lS q
the promptncss OF mail delivery at al OF
foes. but 1t IS the especial instr'linehtaiisy
which puts the smaller and waV PAGES IN
with the larger ami terminal Offices Ihis
branch OF the postal service has, therefore,,
received much attention from the postmaster
general, 0nd. though Il IS gratifying to know
that Il ia In condition Of high efficiency
md great usefulness. l arm led TO agree Win
the postmaster general that there = fooa'A
for its further Improvement.
The Navy Department..
THE renort of the secretary OF the navy
contains a history CT the operations or ms
dcnrrtment during the pest year aha , uA
hilts most gratifying condltiol =, .nu
ne, sonnel of our navy. lie presents
satisfactory account OF the progress when
had been made In the construction OF YES
seis and makes q number OF feconmeh..a -.
f,ons TO which attention is specially II
yit.d During the past six months the ue
mands for cruising vessels have been many
and urgent, There have been rsvoin,Dns al,
calling for vessels to protect Amefi-
can interests IN Nicaragua. Gnutemaia.
Costa Rlca, Honduras. Argentina ana brn-
zil while the condition Of affairs In Homo.
lulu has reluirsd the ,,h cans'ah, a1 ftnese calls
mon orr navy It became necessary IN or
der to make up a sufficient Heet 10 pa,Iu
the Bering sea under the Inolus N,sn tu
agreed upon with Great britain. 20 ue1ail
tn thnt service one vessel from the 1sh
commission and three from the revenue ma
rine. ~ o,r n.rv
have been completed and are now reaay
for service: The double turrcted coas. a.S
Tense monitor Miantonomoh; the nontsrey dome,e
turreted coast deIense lhoi5lu, ~ 49,, -
fhe armored cruiser New YORK. the pro-
tnctoI cr,isers Baltimore, Chicago, Phfla-
de,phia, Newark. San Francisco, charIes- les
ton. Atlanta and Boston. & the srn1sep rapcnrN M
troit. the gunboats Yorktown. I9neora' .i
Bennington, Machias, Castine ana aa. Ie.lsa,
the dispatch vessel Dolphin, the praruoe
vessel Bancroft ana the dynamite guhpoat
Vesusivius OF these the Bancroft, MA,
chias. detroit and Castine have been placed
in commission during the current calendar
year. -
const ruction: The second-class mttleshiD6
Moline and Texas the cruisers Montgomery
and Marble head and the coast defense
monitors Terror. Puritan. Amphitrite ana
MonaiDock, oil Of which Will DC compieten
..,thin ono year: the harbor defense ram
MAai.ai., a nj tho nrntacted crnixnrH Co