Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1894-12-07
The Presidents MESSAGE.
A succinct and Comprehensive
Abstract of 1t.

review of our foreign relations. In
speaking of japan, the Presl dent
says:
"Japan attracts increasing at
tention in this country by her evil
dent desire to cultivate more llO'
eral intercourse with us and 10
seek our kindly aid In furtherance
of her lauGable desire for complete
autonomy in her domestic affairs
and full equality IN the family OF
nations. The japanese empire OF
today is no longer the Japan of the
past, aud our relations with this
progressive nation should not be
less broad and liberal than those
with other powers"
Appropriate reference is made
to the assassination of the Presl-
dent of France anu to the death oil
the Car of Russia.
The President takes mp the re-
ports of the various departments
and discusses them at length. The
first report is that CT the Secretary
of the Treasury, and the President
saws: "The Secretary of the Treas
ury reports that the receipts OF
the government from all sources OF
revenue during the fiscal year end
ing June 3Oth,, 1894, az oanted to
$372. SO2,4SS,2S, and its expendl-
ture to $442,6oj 1887, leaving a
difcit OF SOS, 1903, 26O,5S. There
was a decrease of S15, 952, G74.GG IN
the ordinary expenses of the gov
eminent as compared with the
fiscal year 1898.
There was collected from GUS
toms S131,SlS, 53O,G2 and from in,
ternal revenue S147, 16S, 449, ~
The balance of the income tor the
year amounting to S93,S15, 662,0'
was derived from the sales OF lands
o.5 ethan c0opoac
1t estimated that upon the basis
of the present revenue laws the re-
ceipts OF the government during
the current fiscal year ending
June 80, 1895, will be 1924, 427. =
74S, A. It's expenditures $E44,427,'
74S,44. resulting in a deficit OF
S2O,OOO,OOO.
On the first day of November,
1891, the total stock of money OF
money OF all kinds in the country
was 50, 24O,743, $50 against S. ,2O4,'
651, 900 on the first day of NOvem
Der, 1898; and the money OF all
kinds IN circulation, OrDOt inclnded
IN the treasury holdings, was ST.
672, O03 422, or $2427 per capital
upon an estimated population OF
6S,SS7 900. At the same date there
was held IN the treasury gold
bullion amounting to S44,Gl5,10,.
80 and silver bullion which was
purchased at a cost of 1927, 779,9SS.
Fifty national banks were or
gained during the year ending
October IS, 1894, with capital OF
$G2Sj, 900 and seventy-nine with
a capital of $1O,47j,OO0 went into
voluntary liquidation. Twenty
one banks with a capital of 81, no.
900 were placed in the hands OF
receivers. The total number of
banks in existence on the 3lst day
Iof October last was 1856, being
forty less than on the 31st day o.
October, 1898. The total resources
of the banks at the date mentioned
amounted to S3,473,922,OO5 a.
against So, 100 2Sl 4G in 1893.
IN concluding his message, tn
President reverts to the cnrrenc,
IquestiOn and deplOres the condlt
ion which depleted the gold reserve
Speaking OF the recent bond issue
> be adds that there was no Othe
remedy at hand, and serves notice
on Congress and the bushes
world that he will exercise thi
. perogative whenever it isnecessar
to protect the credit of the gO'
eminent.
q Questions relating to our bank
! and currency are closely connecte'
q with the subject referred to an
+ and they also preseutsome unsatl
+ factory features. Prominent
# among them IS The lack of elast
CITY in our currency circulatio
and its frequent concentration
# financial centres when 1t is mo
needed in other parts Of the coun
r try =. The secretary OF the trea
ury presents in his report a scheu
modifying the pre- eat bankir
laws and providing for the issue
i circulation notes by Safe bank
free from taxation under certai
g limitations.
He gives Secretary Carlisle
nIons his un0ualjfie sd endorsement