Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1900-12-03

- -''7~~@--4
| themselves with banking institutions
| urder the national system"
INCREASE IN BANK NOTE CIECC.
LATION.
! "The large increase in the national
| bar note circulation resulted trom Il
provision of the act which perui.s ma
tional banks to issue circulating notes
to the par value of the United States
bonds deposited as security, instead of
only 80 pei cent thereof as heretofore.
! The increase in circulating notes from
$40. The party in power passed
such legislation as will better make the
currency responsive to the varying
needs of business at all seasons and to
all sections"
FOREIGN TRADE.
| Continuing, the message says: "Our
foreign trade shows remarkable record
of commercial and industrial progress.
The total of imports and exports for
the first time in the history of our
country exceeded two billion dollars. .
RECIPROCITY.
In that portion Of the message de-
voted to Commercial conventions, the
following paragraph appears: ''The
policy of reciprocity SO manifestly rests
upon principles of international equity
and has been SO repeatedly approved
by the people of the United States that
there ought to be no hesitation in either
effect"
RELATIONS WITH SPAIN.
With regard to Spain, the message
says: Satisfactory progress has been
made toward the conclusion of a gen.
eral treaty of friendship and inter-
course with Spain, by the replacement
of the old treaty which had passed into
allegiance by reason of the late war.
BY the terms of the treaty of peace the
line bounding the ceded Philippine
group in the southwest failed to include
several small islands lying west of the
Sulus which always have been recog-
nized under Spanish control. The oc-
cupation of Sibutu and Cagayan Sulu
by our naval forces elicited the claim
on the part of Spain, the essential
equity of which could not be gainsaid.
In order to cure the defect of the treaty
by removing all possible ground for
future misunderstanding respecting the
Interpretation of its third article, di-
rected a negotiation supplementary to
the treaty, which will be forthwith laid
before the senate, whereby Spain quits
all title and claim of title to the is
lands named as we'll as to any and all
islands belonging to the Philippine ar
chipelago lying outside of the lines de-
scribed in said third article, and agrees
that all such islands shall be compre-
hended in the cession Of the archipelago
as fully as had it been expressly in
cluded within those lines. In considera-
ton of this cession the United States Is
to pay Spain the sum Of 100000"
THE NICARAGUA CANAL.
The statement that the Nicaraguan
government had declared void the mari
I-time canal company contract and the
Eyre Cramin option for building the
inter-oceanic canal, concludes as fol-
lows: "Deeming itself relieved from the
existing agreements the Nicaraguan
government shows disposition to deal
freely with the canal question, either in
the way of negotiations with the United
States or taking measures to promote
the water way.
"Overtures for a convention to the ef-
feet that the building of the canal un-
der the auspicions Of the United States
are under consideration. In the mean
time the Views of congress upon the
subject, in the light of the report Of the
commission appointed to examine the
comparative merits of the various
trans-isthmian ship canal projects,
may be awaited"
HAY-PAUNCEFOT TREATY.
II commend to the early attention Of
the senate the convention with Great
Britain to facilitate the construction
Of such canal and to remove the OBJ
jections which arise out Of the conven-
ton called the Clayton -Bulwer treaty"
FOREIGN RELATIONS.
The message then discusses the re-
lations Of the United States with for
eign countries, which are represented
as being cordial. In speaking Of Great
Britain, no mention Is made of the
South African war, other than to refer
to the seizing Of American goods by
Great Britain. Regarding Mexico, the
president uses the following language:
mo noteworthy incident occurred in
our relation. with our important south
ern neighbor. The commercial inter-
course with Mexico continues to thrive.
and the two governments neglect no
opportunity to foster their mutual IN.
.terests in all practicable ways
LA ABRA AND WE'LL CLAIMS.
Pursuant to the declaration of the
supreme court that the awards Of the
late joint commission in the La Alb. !,
and We'll claims were obtained through
fraud, the sum awarded in the first ca ,,s
of $403,030. has been returned to Mex
ico,. and the amount Of the Well award
will be returned In like manner"
BOUNDARY COMMISSION.
"The convention indefinitely extend
ing the time for the completion OF the
labors Of the United States and the
Mexican international (water) bound