The Mena star., 1898-12-07
eIleiting hIgh commendntion.


 be authorized to communicate to you a favor able conclusion of the pending negotiations with Great Britain in respect to the Dominion of Canada It is the earnest wish Of this gov ernment to remove all sources of discord and irritation in relations with the neighboring do- minon. The trade between the two countries is constantly increasing and it is important to both countries that all reasonable facilities should be granted for it's development
 Ihe Annexation of the Hawaiian Islands.
 Pending the consideration by the senate of the treaty signed June i6. 1897 by the plen- potentiaries of the United States and the re- public of Hawaii providing for the annexation of the islands, a joint resolution to accomplish the same purpose by accepting the offered ces- sion and incorporating the ceded territory into the union, was adopted by the congress and approved July :. 1898 1 thereupon directed the United States steamer Philadel- phia to convey Rear Admiral Miller to Honolulu and entrusted to his hands this important legislative act to be delivered to the presdesident of Hawaii with whom the admiral and tn United States minister were authorized to make appropriate arrangements for transferring the sovereignty of the islands to tho United States This was simply but impressively accom- p@ished on tine 18th day of August last. by the delivery of q certified copy of the resolution to President Dole, who thereupon yielded up to the repre- sentatiyes of the government of the United States the sovereignty and public property of the Hawaiian islands
 Pursuant to the terms of the joint resolution and in exercise of authority thereby conferred upon men, l directed that the civil, judicial and military powers heretofore exercised by the officers of the government of the republic of Hawaii should continue to be exercised by those officers until congress shall provide government for the Incorporated territory sub ject to my power to remove such officers and to ill vacancies
 tIsims Against Turkey.
 The newly accredited envoy of the United States to the Ottoman port carries instruc- tions looking to the disposal of matters in con- troversy with Turkey for number Of years He is especially charged to press for a just set clement of our claims for indemnity by reason of the destruction of property of American missionaries resident Tn that country during the Armenian troubles of 1895 as well as for the recognition of older claims of equal just ness
 Matters Concerning the Treasury.
 The secretary of the treasury reports that the receipts of the government from all sources during the fiscal year ended June 30 1898 iu- cluding Si, 75l. 223 received from sale of Pacific railroads, amounted to sl05, s.1. .s3, and It's ex- penditures to S443 36s.5s2 There was obtained from customs si49 ,062 and from internal revenue Sf70, .641. Our dutiable imports amounted to 1924 735, 47o a decrease Of S58 l56,- 690 over the preceding year, and importations free of duty amounted to s2e1. .al4,i75, de- crease from the preceding yearNof s90, ,524, 068 Internal revenue receipts exceeded those of the preceding year by s24.212 06S
 The total tax collected on distilled spirits was e92 546, ,99e on manufactured tobacco s36 23o, 522 and on fermented liquors $3a. .515. 4?l We ex- ported merchandise during the year amount ing to si ,2S1 4ss, S30 increase of $780, 4S8 774 from the preceding year.
 Ii is estimated unon the haefo of nresent revenue laws that the receipts of the govern ment for the year ending June 30 1899. will be s577S74 607, and it's expenditures s6S9 84 ST. re- sulting in deficiency of SIP, 900. 000
 On the Ist of December, 1898, there was held in the treasury gold coin amounting to sl3s. 44l,b47. gold bullion amounting to fl33. 502, 545 silver bullion amounting to s9s 250 and other forms of money amounting to f45l e6S, 9Sl On the same date the amount of money of all kinds in circulation, or not included in treas ury holdings. tl, ,S36 8s9, 5C4, increase for the year of s165. 794 966 Estimating our popu- lation at 70, lc4, 600 at the time mentioned, the per capita circulation was ss5.C9 On the same date there was in the treasury gold bullion amounting to S13s, 5O255.
 The provisions for strengthening the re- sources of the treasury in connection with the war has given increased confidence in the pur- pose and power of the government to maintain the present standard and has established more
 
 and abroad.
 renew so much of my recommendation of December 1897, as follows: That when any of the United States notes are presented for redemption in gold such notes shall be kept and set apart and only paid out in exchange for gold. This is an obvious duty. If the holder of the United States note prefers the gold and gets it from the government, he should not receive back from the government a United States note without paying gold in exchange for it. The reason for this is made all the more apparent when the government issues an issue bearing debt to provide gold for the redemp- tion of United States notes-a non-interest- bearing debt Surely 1t should not pay them out again except on demand and for gold If they are put out in any other way they may re- turn again, to be followed by another bond is- sue to redeem them, another interesting bear ing debt to redeem non-interest bearing debt
 This recommendation was made in the belief that such provisions of law would insure to a greater degree the safety of the present stand ard and better protect our currency from the dangers to which it is subjected from dis turbance in the general business conditions of the country.
 In my judgment the present condition of the treasury amply justhes the immediate enact- ment of the Legislation recommended one year ago, under which portion of the gold hold ings should be placed in a trust fund from which greenbacks should be redeemed upon presentation, but when once redeemed should not thereafter be paid out except for gold.
 It is not to be inferred that other legislation relating to our currency Is not required On the contrary. there is an obvious demand for 1t. The importance of adequate provision which will insure to our future a money stand ard related as our money standard now and to that of our commercial rivals is generally recognized.
 The companion proposition that our domes- ffo cha1 I.ot fn and