Barre evening telegram. (Barre, Vt.) 1898-19??, 1898-12-06

: because Tire two members named on
behalf Of Venezuela, Mr.. Chief Justice
Fuller and Mr.. Justice Brewer, chosen
from our highest court. appropriately
testify the continuing interest we feel
in the dem tive adjustment of the ques-
ton according to the strictest rules Of
Justice. The British members, Lord
Herschell and Sir Richard Collins, are
jurists OF no less exalted repute, while
the Nth member and president Of the
tribunal. NJ. r. de Martens. has earned
q worldwide reputation as an authority
upon international law.
Private Property In War.
The experiences of the last year bring
forcialy home to us sense Of the bur-
dens and the waste Of war. We desire.
IN common with most civilized nations.
to reduce to the lowest possible point
the damage sustained in time of war by
peaceful trade and commerce. 1t Ia true
we may suffer in such cases less than
other communities. but all nations are
damaged more or less by the state Of
uneasiness and apprehension into which
an outbreak OF hostilities throws the
entire commercial world. 1t should be
our ODJeCls tuCI ClOI " iilAiIiAAiAC CO AAA
as practicable this inevitable loss and
disturbance. This purpose can proba-
bly, best be accomplished by an inter-
national agreement to regard all pri-
vate property at sea as exempt from
capture or destruction by the forces Of
belligerent powers. The United States
government has for many years advo-
Gated this humane and beneficent prin-
| lVVn 10 n ~
mend 1t to other powers without the
imputaton Of selfish motives. there
fore suggest for your consideration
that the executive be authorized to cor
respond with the governments Of the
principal maritime powers with view
Of incorporating into the permanent law
Of civilized nations the principle Of the
exemption of all private property at sea
not contraband Of war from capture or
destruction by bell'gerent powers.
On finances the president says the
provisions made for the treasury in the
war have established more firmly the
national credit at home and abroad as
we'll as increasing confidence in the
maintenance of the present standard
and says:
The provisions made for strengthen
ing the resources of the treasury in
connection with the war have given in
creased confidence in the purpose and
power OF the government to maintain
the present standard and have estab-
lished more firmly than ever the ma
tional credit at home and abroad. A
marked evidence Of this is found in the
inflow OF gold to the treasury. Its net
gold holdings on Nov. 1, 1898, were $239, =
1856, 1872 as compared with $153,573,147 on
Nov. /, 1897, to $500, 23S,275 Nov. 1, 1898.
The present ratio of net treasury gold
to outstanding government liabilities.
including United States notes. treasury
notes Of 1890, silver certificates curren-
cy certificates. standard silver dollars
and fractional silver coin Nov. /, 1893,
was 25.35 per cent as compared with
1896 per cent Nov. l, 1897.
I renew so much OF my recommends
ton Of December. 1897, as follows: That
when any of the United States notes {
presented for redemption in gold and
are redeemed 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 United
States note without paying gold in ex-
, change for 1t. The reason for this Is
made all the more apparent when the
government issues an interest bearing
debt to provide gold for the redemption
| of United States notes--a noninteres'
bearing debt. Surely 1t should not pay
them out again except on demand ant
for gold II they are put out In an,
other way. they may return again, to HI
followed by another bond issue to re-
deenl-another interest bearing debt t,
redeem a nopnterest bearing debt.
In my Judgment the present condition
Of the treasury amply justi1es the i'm
mediate enactment Of the legislation
recommended one year ago under which
q portion Of the gold holdings should B
placed in trust fund. from which green
backs should be redeemed upon presen
tation, but when once redeemed shout
not thereafter be paid out except 70
gold.
1t is not to be inferred that other leg
islation relating to our currency is no
required. On the contrary, there Is a
obvious demand for it. The importanc
Of adequate provision which will insur
to our future money standard relate
as our money standard now is to tha
Of our commercial rivals Is general
recognized.
The secretary of the treasury report
that the receipts of the governmer
from all sources during the fiscal yea
ended June 30, 1898, including $64, ISL 2:
received from sale of Pacific railroads
: amounted to $405 1871, 1886 and its expend'
: lures to SAB, 36S,5S2. There was collect
ed from customs $149.575062 and frol
in1ernal revenue $40. 900,641. Our dutis
BILE imports amounted to $324635 479.
dec' ease Of SIS, 156, 600 over the preced
, ing year. and importations free Of dut
] amounted to 1921. 1915. decrease frol
: the preceding year of $90.52406S. Inter
nal revenue receipts exceeded those {
5 the preceding year by $24.212,0s7.
t The total tax collected on distille
5 spirits was s92, 546 999. on manufacture
e tobacco $50, 23O,522 and on fermente
liquors s39, 515,421. We exported mel
n chandise during the year amounting
1921, 4S2, $50, an increase of $3.50, 4SS.7
e from the preceding year.
1t Is estimated upon the basis of pre-
ent revenue laws that the receipts
e the government for the year endir
t June 30. 1899. will be $577, 874647 and 1
= expenditures $3.50 S74 647, resulting In
r deficiency of SIP 900 900.
d On the LIST of December. 1898. the
o were held in the treasury gold CO.
d amounting to s13s. 441547, gold bullie
e amounting to 1888, SOP 545, silver bullit
d amounting to $685. 1853, ESQ and other form
: Of money amounting to $451, 1853, 9S1.
e On the same date the amount
o money Of all kinds in circulation or n
d included in treasury holdings was 81
r 8S6S79,504, an increase for the year
e $165, 794, 1865. Estimating our populate