The Chanute times. [volume] (Chanute, Kan.) 1897-1913, 1898-12-16

tho passage for United States revenue enters
from the Great Lakoi to the Atlantic coast BY
way OF the Canadian canal and the St. Lawrencs
river. The vessels had reached Lake Ontario,
and were there awaiting the opening Of naviga-
ton, when war was declared between the
United States and Spain. Her mejesty's
government thereupon, by communication
OF the latter part OF April, stated that the per-
mission granted before the outbreak Of HOSTILE
ties would not be withdrawn, provided the Unit
ed States government gave assurance that the
vessels Id question will proceed direct to o
United States port without engaging In any
hostile operation. This the government
promptly agreed to the stipulated condition.
1t being understood that the vessels would not
be prohibited from resisting any hostile at
tnck.
1t will give me special satisi action II shall
be authorized to communicate to you favor
able conclusion Of the pending negotiations
with Great Britain in respect to the Dominion
of Canada. 1t Is the earnest wish of this gov
eminent to remove all sources Of discord and IT.
ritation in the relations with the nelghboring
dominion. The trade between the two countries
is constantly increasing and 1t Is importat to
both countries that all reasonable facilities
should sc granted for its development
MONETARY MATTERS.
The secretary of the treasury reports that the
receipts OF the government from all sources
during the fiscal year ending June 3D., 1893, In
GLIDING 3l,75l ,223 re eived from sale OF Pacific
railroads, amounted to 05 81 ,S35 and its ex-
pendltures to sil3,96', 5s.. There was obtained
from customs Si957j,O62, and from internal
revenue &l7000l,8i Our dutiab!e imports
amounted TO 1923 73j, 40 de relse of SIS, 1885,
90 over the preceding year, and importatlons.
free OF duty amounted TO S!0l ,4i4l7', decrease
frcm the preceding year of 80, ,3l,0j3. Internal
revenue receipts exceeded those OF the preced-
ing year by S!i,2l2,0B
The total tax collected on distilled spirits
was 5! 'i45,999; on manufactured tobacco $780,
ESQ., 22, and on fermented liquors S39,5i5,42L
We exported merchandise during the year
amounting to ,23l 482, $40, an increase OF $780,
ass RIA from the preceding year.
1t is estimate upon the basis Of present rev.
enue laws that the receipts of the governments
for the year ending June 81 1899, will be ST.
S7i COZ, and its expenditures $500 OF, re-
sulting In deficiency OF Sl?, 100000.
On the lst of December, 1885, there was held
in thu treasury gold coin amounting to $685.
AL, 54l, gold bullion amounting to Sl38,oO2,5 i5
silver bullion amounting to $93,350,250, and
other forms OF money amounting to Si5l $685.
g8l.
On the same date the amount OF money Of all
kinds in circulation or not inclu led in treasury
holdings. was IL ,836s7D, 504. an increase for the
year Of SlG5,70i,9 @ Estimating our population
at rs, lO4 coo at tho time mentioned. the per cap
ita circulation was Sl5.
On the same date there was In the treasury
gold bullion amounting to 3s,502,5i5.
The provisions mado for strengthening the
resources Of the treasury in connection with
the war has given increased confidence In the
purpose and power OF the government to main
tain the p esel S. andard, and has established
more firmly than ever the national credit OF
home and abroad A marked evidence OF this
Is found in the inflow OF gold to the treasury
Its net go holdings on November l. 1893, were
S,3), 1885, 6), as compared with Sl53,573 LAT on
November l. 1897, and an increase Of net cash
OF S27 756 100 November !, 1897, to $500 1885, 80
November |, 1898. The present ratio OF net
treasury gold outstanding government liabil-
tiles including United States treasury notes OF
1890 silver certificates, currency certificates,
standard silver dollars and fractional silver
coin, November /, 1893 was Is IS per cent as COM
p red with CSC per cent Novembe; l. 1897
renew so much of my recommendation OF
December, 1897, as follows:
THAT when any Of the United States notes
are pres nted for redemption and arc redeemed
in gold such notes shall be kept and set apart
and only paid out in exchange for gold. This is
an obvious duty. II the holder OF the United
States note prefers the gold and gets 1t from
the government, he should not receive back
from the government United States note
without paying gold in exchange for It, The
reason Tor LllS is IlltNc al lUS lIlOTO uppurcub
when the government issues an interest bear
Ing debt to provide gold for tho redemption Of
United States notes-a non-interest bearing
debt Surely 1t should not pay E;lem out again
except on demand ald for gold II they ore
put out In any other way they may return
again, to be followed by another bond issue TO
redeem them, another interest bearing debt to
redeem non-interest bearing debt"
This recommendation was made in the belief
hat t,ch iSio Of 1aNV would 4 n
greater degree the safety of the present STAN
dard and better protect our currency from the
dangers to which it is subjected from a disturb
ance in the general business conditions Of the
country.
In my judgment the present condition OF the
treasury amply justihes the immediate enact
ment Of the legisla ion recommended one year
ago, under which portion of the gold holdings
should be placed in trust fund from which
greenbacks should be redeemed upon presenta-
ton. but when once redeemed should not there
after be paid out except TO- gold
1t is not to be inferred that other legislation
relating to our currency is not required. ON
the con rary, there Is an obvious demand for 10.
The Importance of adequate provision which
will insure to our future money standard re-
lated as our money standard now and TO that OF
our commercial rivals is generally recognized.
The companion proposition that our domestic
paper currency shall be kept safe and yet be so
related to the needs Of our industries and in
ternal commerce as TO be adequate and respons-
i've to such needs is u proposition scarcely lesa
important. The subject, in all its parts, Is
commended to the wise consideration Of the
Congress.
ARMY MGR EASE.
The Importance Of legislation for the perIna-
nent increase OF the army is manifest AMI the
recommendation OF the secretary OF war for
that purpose has my unqualified approval.
There can be no question that at this time and
probably for some time In the future 100000
men will be none too many to meet the neces-
sites OF the situation At all events, whether
that number shall be required permanently or
not the power should DO given to the Presi-
dent to enlist that forco II, in his dscr zion, II
should be necessary, and the further discretion
should be given him to recruit within tho above
limit from tho inhabitants OF tho islands with
the government Of which we are charged
1t is my purpose to muster out the entire
volunteer army as soon as the Congress shall
provide for the increase of the regular estab-
lishment This will be only IN act OF ju.tice
and will be much appreciated by the brave men
who left their homes and employments to helV
the country in its emergency.
The following recommendations OF the Score
tary OF the navy relative to the increase OF the
navy have my earnest approval:
/. Three sea-going sheAthed and coppered
battleships Of about 10, 90 tons trial dlsplace'
ment, carrying the heaviest armor aud most
| poverful ordnance for vessels OF their clnsS.