The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-09-10

Of the roads in the sum of nearly forty
four millions dollars have been paid
since December 81 1897 The treasury
balance is in satisfactory condition,
showing on September ! $135, 419,oO0, in
addition to the $3.50, 900 gold reserve
held in the treasury The government
relations with the Pacific railroads have
been substantially closed, 1924, 421 ,00C
being received from these bonds, the
greater part in cash and the remainder
with ample securities for payments de-
ferred
Instead of diminishing, as was pre-
dicted four years ago, the volume of our
currency Is greater per capita than it
has ever been. 1t was $21.10 in 1896 1t
had increased to $3.50 on July 1, 1900,
and $26.S5 on September 1, 1900 Our
total money on July 1, 1896, was S1,506,-
434, 966; on July /, 1900, it was $2,062 425,-
400 and 1905 683,o42 on September l,
1900.
Prosperity Abounds Everywhere.
Our Industrial and agricultural con-
ditions are more promising than they
have been for many years-probably
more SO than they have ever been.
Prosperity abounds everywhere
throughout the republic. I rejoice that
the southern as we'll as the northern
states are enjoying full share of these
improved national conditions and that
all are contributing so largely to our
remarkable industrial development.
The money lender receives lower re-
wards for his capital than if it 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 advanced in value.
Our foreign trade shows a satisfac-
tory and increasing growth. The
amount of our exports for the year 1900
over those of the exceptionally prosper
Gus year of 1899 was about half mil
lion dollars for every day of the year,
and these sums have gone into the
homes and enterprises of the people.
There has been an increase of over SoO,-
O00. 900 in the exports of agricultural
products; 1872 692 ,220 in manufactures,
and in the products of the mines of over
$4,000. 0OO Our trade balances cannot
fail to give satisfaction to the people
nf the country In 1898 we sold abroad
S615. 1872. 676 of products more than we
bought abroad; in 1899 S529, STA, S19, and
in 1900 s544,471, 701, making during the
three wears a total balance in our favor
of 81, 6S9, 779 190-nearly five times the
balance of trade in our favor for the
whole period of 1913 years from 1880 to
June 80, 1897 inclusive.
Four hundred and thirty-six million
dollars of gold have been added to the
gold stock of the United States since
July 1, 1896 The law of March a. 1900
authorized the refunding into two per
cent. bonds of that part of the public
debt represented by the three per cents.
due in 1908, the four per cents. due IN
1907 and the five per cents. due in l9o4
hggregatine $S40,000,000. More than one
third of the sum of these bonds was re-
funded in the first three months after
the passage of the act, and on Septem-
her this sum had been increased more
than S33, 900 coo, making in all S330,51S,-
O50. resulting in net saving OF over 49,
379. $40 The ordinary receipts of the
government for the fiscal year 1900 were
S79, So, O6O in excess Of it's expenditures.
Expenditures Decreased.
While our receipts, both from customs
and internal revenue, have been greatly
Increased. our expenditures have been
decrea sing Civil and miscellaneous eX-
penses for the fiscal year ending June so,
1900 were nearly $I4,000,000 less than in
1899 while on the war account there is
a decrease of more than $50, 600, 900.
There are required IS, 100000 less to sup
port the navy this year than last and
the expenditures on account of Indians
were nearly two and three quarters mil
lion dollars less than in 1899. The only
two items of increase in the public eX-
penses of 1900 over 1899 are for pensions
and interest on the public debt. For
1899 we expended for pensions SlS9,S94,
g29 and for the fiscal year 1900 our pay
ments on this account amounted to
to S140, ST., 316. The net increase of inter-
est on the public debt of 1900 over 1899
required by the war loan was 1858, 4OS.25.
While congress authorized the govern
ment to make war loan of $500, 100000
ut the beginning of the war with Spain,