The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-09-10

The present congress has given 20
Alaska Il territorial government, for which
IL had waited more than quarter Of n
century; has established a representative
government in Hawaii; has enacted bills
for the most liberal treatment OF the pen
free homestead policy. In its great tinah
cial law IL provided for the establishment
Of banks Of issue, with a capital Of s25.0lo,
for the benefit of villages and rural COM
munities. and bringing the opportunity Tor
profitable business in banking within the
reach OF moderate capital. Many are al
ready availing themselves of this privi-
lege.
Payment of Bonds.
During the past year more than nineteen
millions of United States bonds have been
paid from the surplus revenues of the
treasury, and in addition S25, 100000 CT pen
cents. matured were called in by the gov
ernment and are in process of payment.
Pacific railroad bonds issued by the gov
ernment In aid of roads in the sum OF
nearly s44 900 ,oo0 have been paid since
December 81. 1897. The treasury balance
is In satisfactory condition, showing on
$50 600 900 gold reserve held in the treas
ury. The governments relations with the
Pacific railroads have been substantially
closed, 1924 42l 600 being received from
these roads, the greater part In cash and
the remainder with ample security for
payments deferred.
|. Increase of Currency Volume.
Instead OF diminishing, as was predicted
four years ago. the volume of our cur
rency Is greater per capita than IL has
ever been. II was s2l.10 in 1896. II has
increased to $3.50 on July /, 1900, and s26.s5
on September !, 1900 &C our u, total tot money on
1900. It was s2,0s2 425. 1876, and s2096 $50 os2
on September J. 1900.
Industry and Agriculture.
Our Industrial and agricultural condi-
| tlons are more promising than they have
been for many years, probably more SO
haff fhaav nN
abounds everywhere throughout the re-
| public. ! rejoice that the Southern as
/ well as the Northern states are enjoying
a fun share of these improved national
conditions. and that all are contributing
largely TO our remarkable industrial de-
| velonment.
The money lender receives lower re-
| wards for his capital than II IL were in
! vested in active business. The rates OF
| interest are lower than they have ever
been In this country while those things
| which are produced on the farm and in the
+, workshop. and the labor producing them.
/ have increased In value
Growth of Foreign Trade.
| Our foreign trade shows a satisfactory
| and increasing growth. The amount OF
| our exports for the year 1900 over those
/ OF the exceptionally prosperous year of
| 1899 was about half million dollars for
every day Of the year. and these sums
| have gone into the homes and enterprises
1 OF the people. There has been an increase
! OF over $50. coo 600 IN the exports Of agri-
; cultural DrpGuCtNs H3Z,hNE..Et IN rnipQFNf-
! lures. and in the products Of the mines
over l00o0.0Ga
/ our trade balances cannot fail TO give
| satisfaction 20 the people Of the coun-
try. In 1895 we sold abroad s6l5. .4s2 G7s Of
products more than we bought abrOnd:
1 in 1889. 2a.S74Sl3, and In 1910, s54s.fu, ,7W,
! making during the three vears total
balance In our favor OF sl,6Sa. ~, i9n- near
{ " five times the balance Of trade in our
favor for the whole period of les years
from 1890 TO June 30, 1897 inclusive.
Additions Ia Gold stock.
Four hundred and thirty-six million dol
lars OF gold have been added to the gold
stock of the United States since July ].
1896. The law Of March H. 1890. authorized
/ the refunding. In per cent. bonds, OF
/ that part Of the public debt represented
/ by the per cents. due IN 1905 the ( per
I cents due IN 1907 and the s per cents. due
/ in 1894. aggTege ting sss0.000o01,
More than one-third of the sum Of these
bonds was refunded In the first three
months after the passage % the act. and
on September the sum had been decreas-
I ed more than S3.tao.0f0. making In all
/ $3.50 51s.o9 resulting IN a set saving Of
I the government for the fiscal year ~ 1000
were 80 go IN excess OF its expendi-
tures.
Receipts and Expenditures.
While our receipts both from customs
{ and internal revenue have been greatly
( increased. our expenditures have been
. decreasing, civil and miscellaneous ex-
. pcrsea fer the fiscal year ending June ~
Z i@a were nearly dso00 0ao less than IN
. lS9 while on the war account there II q
7 decrease 80 more than Ss3 ea ja0 There
I were required sSea0o less 20 support the
I navy this year than last and expenditures
7 on account ~ Indians were nearly two
4 and three-guarfrrs million dollars less
1 than In 1922
The only two 5tenas of increase sn the
. public expenses ot 1900 over '&0 arc fnr
rens!ons ana interes, on che puhllc debt.
4 For fss9 We expended f1r pensions $50 Gi&.-
T so. Rnd for the fiscal ynar 1tW oar uay-
rosnts on this account amounted 20 tiW-
I ST SIS The net iucreaee ~ Interest on
& the ruhlic debt ~ i3sn over iSsN REQUIRED
hv she war loan was sgt7 tn q While
+ congress authorized the EovrrnrHrgt 20
Z make a war loan af tAA ~ fa ~ fhe le~
. girnfrlc ~ fhe wnr with snsfr ouIv ss5a-
( 30 la - huuds pere issued. hearfnE pep
. cent. interest which were pvrwDtlv ana
( pntrihslcally taken BY our ci''zenx
tniess something unforeseen ocrurs 70
. reduce our revenues or Increase our ok
pend3turVR the ranErees re- Ns ucxf ere-
3 eior shoula roluce taxation very ma
. terisfiy
Improved Financial Relations
Five wears arn we were selling gev-
. eminent han1s as high aa urr cent in.
. forrest Now ws arc rf.iremtuC hem WITH
bend at rar bearing ner cent interest
4 We are selling oftf aurgiIs products erH
. tentinr out surplus ~anrer % rUrone.
+ one result Qf our selling 90 other ua-
tions 80 much u0rs than W. have bought
IN'|'si H-'l.N ..t'f''h .A.f t.Htt NlaI
is radical Improvement - our financial
. relations
The great a-aouEtF ~ raasfaI which
F. have boon borrowed 81 Eur,ue rq- ru~
rapid, matfr'ns development hnve reryaf7-
90 constant hrelu mpeu ou- ~astsl~r.4
fHr Interest ard dividends ard made our
unneY markets liable Go constant dss-
. tuyhanees hv calls far rawmonf or hqarv
sales ~ ouT securities whenever money
+ striuEcnrT or naniC occurred abroad We
3 have row been paving these ffhts and
BRINGING home many ~ nur securities arsA
{ esta hlshiHg eHrHser ry7llinE credits RhranA
{ Day our loans anA pts s-'uE og-selxts upon "a
? s'sre foundation of 1n41ri1i iUe9ence
soHth African War.
In 1he contest between Great Britain
( and the Boer states - South Africa fhe