Spirit of the age. [volume] (Woodstock, Vt.) 1845-1913, 1896-07-18
WASHINGTON LETTER
ESPECIAL CORRESPONDENCE.

GETTING READY FOR SPAIN--Al-
though the administration does not
expect n foreign war, there is no in
tention of being unprepared for such an
event. The first step in the direction
of safety is the modifying of large
feet off the New York and New
England coasts. While the i'm
mediate assembling of these ships
is for the purpose of tactical training
it is we'll understood that they are
intended as a useful object lesson
to those European countries which
believe that the United States navy
exists largely on paper and that it's
material strength is unimportant A
brief review of the vessels composing
the North Atlantic fleet will show it
to be, with one exception (the British
feet in the English channeD the
largest and most effective of any now
flying the flag of any of the great
powers When it assemblies off Thomp-
kinsville, Staten island, few weeks
hence, it will consist of the battleships
Indiana and Massachusetts,, which
carry the heaviest batteries afloat, and
which can fight on even terms with
any vessels which may be sent against
them; the second-class battleship s
Maine and Texas, the armored cruiser
New York, the powerful monitors Am
phitrite, Miantonomoh and Terror,
and the cruisers Columbia, Cincinnati,
Raleigh and Montgomery.
THREE MILLIONS A MoNrH--The de.
cision of secretary Carlisle to coin
about three million silver dollars per
month during the remainder of the
present year is not due to any tender
ness toward the silver men, but to the
narrow margin of coin available under
the Sherman law for the redemption OF
treasury notes. These notes are re.
tired and cancelled when redeemed in
silver dollars, and the dollars are re.
leased for general circulation. The
amount in the treasury for redemp.
ton purposes amounts to $ll, 2l7,.
| 582. The amount thus held on
Jan. 2 was $13. 76s, sos, SD that the
coinage during the past six months to
the amount of $1,000, 900 has not
kept pace with the repemptions. The
amount of silver dollars held in the
treasury under the Sherman law at the
beginning was about 1926, 900, 900. and
it is the purpos, of secretary Carlisle
! to restore this reserve to about that
amount. 1t is doubtful whether this
will be accomplished. even with coin
age at the rate of $4,000, 900 per
month. Redemptions FISHERMAN otes
in silver are heavy during the summer
and autumn, because of the demand
for silver dollars to pay the cotton
hands in the South. The entire
redemptions since August, 1898,
have been about $26, 900, 900, of
which S4,OOO.OOO was during the
first year, $4,000, 900 during the
second year, and the remainder dur
ing the 10 months just closed. A like
demand for the redemption during
the coming autumn will absorb the
bulk Of the new coinage, and leave
the reserve of standard dollars not
much larger than at present. The
mints cannot get to work on the new
coinage in any case until the middle
OF July, as the first half of the month
is taken for the account of stock, and
the other preparations for the begin
ming of new fisca year. The ont.
standing Sherman notes have now been
reduced to 1929, 583, 280. and the pres
sure upon the gold reserve has been in
one sense reduced by the redemption
of 1926, 900, 900 in silver dollars.
OUR MINERAL PRoDUcTs-Accord-
ing to official statistics just issued by
the director of the geological survey
the total value of mineral products OF
the United States for 1896 increased
over $50, 900, 900 beyond the value
for 1894, or from 1927, 368.574 to
$611, 795, 29O. This increase is con-
sidered long step toward recovery
from the depression to which the mln-
eral industry like all others, has been
subjected. The total value is slightly
less than the greatest recorded,
which was over $64S, 900, 900 in 1892.
In terms of quantities produced, in
stead Of value received, 1896 is great.
est, prices being lower. While the
coal product is great, it is much
steadier, in spite of the extra demand
for it in order to produce any extra
supply of iron. The increased out.
put of iron in 1895 was necessary be.
cause of the great retrenchment in
1894. The railroads ordered ~ little
iron as possible in that yeur, but or
dered freely in 1896 TO take advantage
of prices while they were still low but
advancing.
LIQUID FUEL FOR NAVAL VESSELS
The use of liquid fuel rs a means OF
propulsion has been the subject of in.
quiry by a naval board of engineers,
whose report is expected at the de.
partment in week or two. There are
many firms interested in the subject
of liquid fuel, principally those who
deal in oil, and they have been active
in keeping the board advised of the
merits of this form OF fuel. The en-
gineers do not have much faith in any
of the existing compositions said to
be suitable for fuel they are satisfied
with coal to feed the fires of our ships
OF war. Liquid fuel may be used Oh
some small craft.
ROMERO WILL STAY-Minister Ro.
nero is not going, after all. If be
had carried out his original threat and
resigned his post, it would have been
a very sorry day, indeed, for the dip
lomatic corps, and for Washington