Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1898-12-08

Government with an earnest invitation to be
represented in the conference which it is
contemplated to assemble with view te
discussing the means of accomplishing sc
desirable result. His Majesty was at once
informed of the cordial sympathy of this
Government with the principle involved In
his exalted proposal and Of the readiness OF
the United States TO take part in the confer
ence.
The claims of owners of American sealing
vessels for seizure by Russian cruisers in
Behring Sea are being pressed to settle
mcnt.
message Of April q last Is renewed, that ap-
preparation be made to reimburse the master
and owners Of the Russian bark Hans for
wrongful arrest of the master and detention
of the vessel in February, 1896, by officers OF
the United States District Court for the
Southern District of Mississippi
Immediately upon the outbreak OF the
war with Spain the Swiss Government, full
filling the high mission it has deservedly as
sumed as the patron of the international
Red Cross, proposed to the United States
and Spain that they should severally recog-
nize and carry into execution, as a modus
vivendi, during the continuation of hoStill-
ties the additional articles proposed by the
international conference of Geneva, Oct 20,
1868, extending the effects of the existing
Red Cross convention of 1854 to the conduct
Of naval war. The Swiss proposal was
promptly and cordially accepted by us and
simultaneously by Spain.
The newly accredited envoy Of the United
States to the Ottoman Porte carries instruc-
tions looking to the disposal of matters in
controversy with Turkey for a number of
years. He is especially charged to press for
a just settlement Of our claims for indemnity
by reason Of the destruction Of the property
of American missionaries resident in that
country during the Armenian troubles of
1895, as well as for the recognition of older
claims of equal business.
The arbitral tribunal appointed under the
treaty of February, 1897, between Great
Britain and Venezuela to determine the
boundary line between the latter and the
colony of British Guiana, is to convene at
Paris during the present month. 1t Is a
source of much qualification to this Govern
ment to see the friendly resort to arbitra-
ton applied to the settlement of this con-
troverSy.
Bureau of American Republics.
l have the satisfaction of being able to
state that the Bureau Of American Repub-
lics created in 1890 as the organ for pro-
noting commercial intercourse and fraternal
relations among the countries Of the West
ern Hemisphere, has become more efficient
instrument of the wise purposes of its
founders, and is receiving the cordial sup
port of the contributing members of the
international union which are actually rep
resented in it's beard Of management.
During the last year the important work
of collecting information of practical bene-
TT to American Industries and trade through
the agency of the diplomatic and consular
officers has been steadily advanced, and in
order to lay such data before the public
with the least delay the practice was begun
in January, 1893, of issuing the commercial
reports from day to day, as they are re-
ceived by the Department of State.
We desire, in common with most civilized
nations, to reduce to the lowest possible
point the damage sustained In time of war
by peaceable trade and commerce Ihls
purpose can probably be best accomplished
by an international agreement to regard all
private property at sea as exempt from cap
ture or destruction by the forces of belig-
erent powers.
Condition of the Treasury.
The Secretary of the Treasury reports
that the receipts of the Government from
all sources during the fiscal year ended June
30, 1896, including $S4, 751 223 received from
sale of Pacific railroads, amounted to S4Oo,
321 1856, and it's expenditures to SAB, 36S. oS2.
There was collected from customs $149,5I5O62
and from internal revenue S17O,9oO,641 Our
dutiable imports amounted to 1924, 13o, 4I9,
a decrease of $5S, 1916, 600 over the preceding
year, and importations free of duty amount
ed to 1921, Ala, IT'S, a decrease from the pre-
cedng year of 800, 524, 06S. Internal revenue
receipts exceeded those of the preceding
year by $24 212, 06S The total collected on
distilled spirits was 500, ,999, ON manu-
featured tobacco $36,230,522 and on fer
mented liquors 500, 515, 421. We exported
merchandise during the year amounting to
81, 231 49,, 800, an increase of $1SO,4SS,714
over the preceding year.
On the 1st of December, 1898, the amount
of money of all kinds in circulation Or not
included in treasury holdings was $1,S36,
S79,504, an increase for the year of $780,
794,966. Estimating our population at o.
$4,000 at the time mentioned the per capita
circulation was S2o.O9.
The provisions made for strengthening the
resources Of the treasury in connection with
the war have given increased confidence in
the purpose and power OF the Government to
maintain the present standard, and has eS-
tabished more firmly than ever the national
credit at home and abroad. A marked evil
dence Of this is found in the inflow of gold
to the treasury.
l renew so much of my recommendation
of December, 1897, follows:
THAT when any of the United States
notes are presented for redemption in gold
and are redeemed in gold, such notes shall
be kept and set apart and only PAID out III
exchange for gold. This is an obvious duty.
If the holder of the United States note pre-
fers the gold and gets it from the Govern
ment, he should not receive back from the
Government a United States note without
paying gold in exchange for 1t. Inc reason
for this is made all the more apparent when
the Government Issues an Understanding
debt to provide gold for the redemption or
United States notes-a non-interest bearing
debt. Surely it should not pay them out
again except on demand and for gold. IL
return again, to be followed by another bond
issue to redeem them-another interest-bear-
ing debt to redeem Notwithstanding
debt"
In my judgment the present condition OF
the treasury amply justif1es the immediate
enactment of the legislation recommended
one year ago, under which portion OF the
gold holdings should be placed in trust
fund from which greenbacks should be re-
deemed upon presentation, but when once
redeemed should not thereafter be paid out
except for gold.
1t is not to be inferred that other legisla-
ton relating to our currency is not required;
on the contrary there is an obvious demand
for it. The Importance of adequate provis-
ion which will insure to our future money
standard related as our money standard now
and to that of our commercial rivals Is gen
orally recognized The companion PROPOSE.
ton that our domestic paper currency snail
be kept safe aud yet be so related to the
needs Of our Industries and internal com
merce as to be adequate and responsive to
such needs is proposition scarcely less I'm
portant.
Prompt Adoption of Maritime Policy.
The annexation of Hawaii and the