The sun., 1900-12-04

.Soni the agreornoni fnf anuthor international
- u"sIro In Octoicr. irri The hu cau'.
fntur. Tor another term ~ ton i"at. =. ns'utcd
10y tho i9'cTna,,Gn. o,c c%wpH,, D,i,h ht to- 10 wi,h
ghaping now 'ln"a u work and "n"tn' inl-
10y q u.efuness to tho in,grcsi and ri .n,n lHow.
American trade IA widely nppi"'to' "'' 7''"'
az atlfl INK development.
yuy CONSULAR sHpvrcr.
- practical UTILITY of th" consular ser-
vice In obtaining wide rang" oi lhiuthnunn
a. To the Industries and cofnmerC" oi oth"r
rgintres and the opportunities therrb' az
forded for introducing ia" al" n or gooIs
have Kept st|Sd fotntsn m sntpn rod "a and ahnniant
evidence has becn furnished, both Az nom"
and abroad. Of the TACT tnnt III" '"hil"r, '"hs1l"r "
Dorts including many from our iiiloinhtlo
TVpre sentative-, have to c"usii"rahl" 'Nt"ht
pointed out ways. and means Of dl,paH'nI %,
4 great VARIETY OF manuiatur"d Sn"h- W,"'h
otTerwiso might not have found sale abroad
Tes'inonV Of foreign observers I" IN" COM
rnerci.u effciency ol the consular corps seems
tn ho conclusiyc. and our own manufacturers
and exporters hig ghly appreciate IN" Nalu" q, th"
services rendered not omit m 'nc T,,. It.'%, ", con-
s,ilar officers to promote American tInd' NJ
increasing part Of the work Of the Enr"aM Dt,, q.
70 compile and print the reports. is To answer
inquiries from trade organizations. nn,Inrss ,,s
houses Gc as to conditions In various nhtus
OF the world, and. nutvit,,st nins Tie small
ness Of che force cmlio} ed, the Mnrn hss u',h ,h
so systematized that responses are u'ide Tcit Mr
such promptitude and acCirac, as to "i'i,
hattering encomups ne 'NI"iL'i',s',' NET sr i, VI
printing the Consul ar Eenorts daliS l"r nm
mediate use by trade bodies. eArorterN. ana
ne nress which was begun in January. lSgs.
continues to give general satisfaction
FEDERAL FINANCES.
II Ia gratifying to be able to state that the
40 1900. we're $40, ,j27. $50 Is. For the ~iN pre-
oedng years we had only deficits; The HGsre-
smounted to s2s9, ,o22 ooiA The recei' T. for
the year from all sources. exclusive oi r">'M
revenues. aggregated sio7.:,l.sii 50 and ey-
or all ulrpGS,S, EXCEPT ltT lI' d,l-
ininistration Of the postal department, az
sT.saSed srs ssc,sI .gs5 IA 49, an Increase @ oyor
the preceding wear OF t?1,n3s 3>Hi III Inc re-
ceipts from internal rey"nns were s?"'S:.- Is,o
The receipts from miscellaneous sources were
sss. .7is oi3a7. against sSd.jsi9'"o9 Tor inc
II is sritifying nlso 70 note tha, during The
wear a considerable reduction ia shoWi IN nc
expenditur.' OF thH i%.'fh fnr fhe scH ycar
1000 we're sl54 T47@;ss rehnchtnor %i SO 10
oss, 4ss 80 over those o. isSs n N" EcqE o.S "
FOR the wear 1900 a. ur1inst $500? le 2j Tor
the preceding Year, decrease mi s."'1i"iiH 90
here was n decrrlsc in 1909 over iNaa of
81 $50 0o4 IS and in a." ciNl ana flsSS"nan c"us
expenses for 1900 ther" was reduction oi
fis.4lso55 "a
1REAsuRY's STRONG CONDITION.
Because Of the excess Of revenues over eX-
pendturcs the Secrellrl "t he pr',nry Ne
70 the sinking fund 10 the amount OF s57,i4A-
$50 os The details OF the singing fund ar" set set
'rreasiry to which | invite attention The
secretary Of the Treasury estimates ihat the
receiIts for the current fiscal year viii argr"-
gate $50 oip O,O and the expenditures ejm.Ho-
Ooo. leaving an tNcec. oi revcnnr> over ,,'N eN-
endi,sfTL cn u, tic "' Trea'nry is one Of nndoubtcd
strength. Tho available cash hnlanc" NOV.
80 was slSoj3os7o, :" ndss IGe @ df i%Tin Warcb %
u last there would hlvc bc"n included in the
InF .F ar N e
II this form were pursued, th" cash hal.ncc,
o6n GSo would be s2>a. .3o3. 7oi 30 Nach balance
Sov so. 1909, was s2a@, io53ol % IT. the ;snerai
serve and trust funds, there was on Nov. 30
s7ooooo73 is in gold coin ana bullion. 70 which
sh?nld be added '23s&; 80" n & goid & GrrtcttsG5i ga
in the Division Of kedrpninn g"Ig CON and
bullion. ma;ins a total holding ot free gold
amounting 70 sa3 a. 9-3 Is
TO srRESGrHES THE CURRENCY.
II will he the duty A. am sure It will be the
disposition Of the COngres@ to provide " .atever
'inuod rarity under all cenditions between
ourtwo form, Of met al'i" m" T"v silver 1nd god
% snrplr. revenues have co. perm''tGd ,L, to- the
the hscal year to cali in the funded loan Of ,ai
con!nued at per Tent X the gN SUI. .,S 9i s2@ 20
OF these bonds have been paid This sum.
together With the amount which may accrue
from further redeml tons under the Cdll VIII
be ap lied to the sinking iund
The REFUN NDISG ACT or 1890.
The Law of March IL. 1900, provided for re-
Inndns mo prr & cent tnrtyIivai .o2 3onds, n6,n
Of the present standard Val e. that oIton Of
the public debt represented by the per cent
bonds of 1905. the 4 per cents. oil 1901, and tho
D per cents. ot 1904, OF which there was out
standing at the date, Of SAID law ssS9.i4psSo.
The holders vi the old bones presented them
Tor ex, NANCE between March a and nov 80
to the amount of s56+,a.3,11o The net saving
10 the Government Oh these uaAsdcllohs az
..rppates sJ.lUblbb
Another elect of the operation, as stated
hy the secretary, is to reduce the charge upon
the treasury Tor the payment Oi interest from
the dates Oi rciundnE To- f"O Il 1894, by the
sum Of more than seven mIiIGn collar annually
interest charge will be reduced by the sum of
more than tive millions. and lor ihe thirteen
non. The iull details OF the rciunoug are
gwen in the annual report Of the secretary
The beneficial effect of the financial act Of
1900. 81 far a. II relates TO a modification OF
the national banAng act, Is already APPARENT,
ihe provision Tor a." ihCori"rati3n oi iatiolal
banks with acsp tai ol not less than $4,000 in
tauts has resulted III the extension "l haukli
facilities to many small coinhunltl.a hitherto
unable to pruvid" themselves ",th banking
Mere organiHcG ron the cna,tnch, oi the
law up t" ana including Noy 49, 5o, national
than $4,000. and lu3 with capital oi $4,000
or more
BANKs INcLEAsING IN NUMBER
II l. worthy Ol lUtltloh lual lIe V"llcr
number ol banks being CrgaI lH"u Under toe
new law are IN sections wher" the need OF bank
ing facilities has been most Pronounced Iowa
.tauus Nrst. With thirty banks ol III" smaller
rlasS. while ieAd,, oklahoma, inuidn Territory
.,na the middle ana western -, tiun, ui tue cCdn
try have also ayailCu tLru selves largely OF the
privileges under the lew law.
4 large Increase ia national bank note cir
culaton has resulted from the provision Of
the act which permits national banks Ia issue
ClTcul ltiug notes 10 the par value OF the uited
States bonds deposited as security instead oi
only M Der cent. thereof a. heretofore The
Increase IN circulating notes from March IL
TO Nov 80 IL 81 $500.
The party in power is committed to such
legislation a. will better make the currency
Tespon> Sc 20 IT." varying needs OF business
at all ,.dspn~ and r. all sections
RIMALkABLL GHUwTH or FOREIGN TRADE.
Our foreign trad" SHOWS remarkable record
OF commercial ant Industrial progress. The
.5'dI Of imports and exports Tor th" ilr-' time
.. a." ll-ior. Df the country exceeded two
,.li.uu. 81 dollars Tho exports are greater
han tLeN IgN" ever been before. tie total
OF tho u-cal year uHa being sl.30i.ts30s2. an
ncr"aSr over I~'l ot siG', ,,i9.7so, an Increase
.,vcr ls's D slBt.ssi ,j2. .vcT 1897 of s3i3.4>1.
and tltstr. at nc