Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-09-10

| force of a deliberate reaffirmation. Four
years ago the people refused to place the
seal of their approval upon these danger
| Gus and revolutionary policies, and this
| year they will not fail to record again their
earnest dissent.
The republican party remains faithful to
its principle of a tariff which supplies suf
ficient revenues for the government and
adequate protection to our enterprises and
producers: and of reciprocity which opens
foreign markets to the fruits Of American
labor, and furnishes new channels through
which to market the surplus Of American
farms. The time-honored principles Of pro-
lection and reciprocity were the first
pledges Of republican victory to be written
into public law.
Congregational Record.
The present Congress has given to Alas
ka territorial government, for which it
had waited more than a quarter of cen
fury; has established representative gov
eminent in Hawaii: has enacted bills for
the most liberal treatment Of the pension
ers and their widows: has revived the free
homestead policy. In its great financial
law it provided for the establishment of
banks of issue with a capital of S2J, goo
for the benefit Of villages and rural com
AiuAitieS, dilu DIlHSiHS tue opportunity lot
profitable business In banking within the
reach Of moderate capital. Many are a.
ready availing themselves Of this priv
1ege.
Paying OF the 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 twenty-five mil
0F
the government, are in process Of payment.
Pacific railroad bonds issued by the gov
eminent in aid of the roads in the sum of
nearly forty-four million dollars have been
paid since December 81. 1897. The treas
ury balance is in satisfactory condition.
showing on September 1 s135, 419. OOO in add
dition to the $3.50, OOO. 900 gold reserve held
in the treasury. The governments rea-
tons with the Pacific railroads have been
substantially closed, 1924, 421 900 being re-
ceived from these roads, the greater mart
in cash and the remainder with ample Sc
curities for payments deferred
General Prosperity.
Instead Of diminishing, as was predicted
four years ago. the volume of our cur
rency Is greater per capita than it has
ever been. 1t was s21.1O in 1885, It had
i,
s26s5 on September 1, 1900. Our total
money on July 1. 1896 was 81, 5Os, 434, De6;
on July l, 1900. 1t was s., O62. 425, 1876 and
s2,o96,6s3.O4 on September l. 1900
Our industrial and agricultural conditions
are more promising than they have been
for many years; probably more so than
they have ever been Prosperity abounds
everywhere throughout the republic. l re-
jo!ce that the southern as we'll as the
northern states are enjoying full share
or these improved national conditions and
that all are contributing so largely to our
remarkable industrial development The
money lender receives lower rewards for
his capital than if it were invested in ac-
tive business The rates of interest are
lower than they have ever been in this
country, while those things which are pro-
duced on the farm and in the workshop
and the labor producing them, have adj
yanced 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 a million 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 $4,000
Ob IN the exports of agricultural products,
sG,692,22O in manufactures and in the
products of the mines over $1Oo0OoO0. Our
trade balances cannot fall to give salts
faction to the people of the country In
1883 we sold abroad s615, 432 675 of products
more than we bought abroad: In 1899 500
SI4,S13. and In 1909. so44. III. 701, making
during the three years q otal 9batancelin
our favor OF 81. $50, 1a3, 1!D-nearly five times
the balance of trade in our favor for the
whole period of 1Cs years from 1880 to June
80, 1897, inclusive.
Four hundred and thrty-six million dol
lars Of gold have been added to the gold
stock OF the United States since July l,
lSB The law of March IA, 1890, author
lied the refunding into Q per cent bonds of
that part of the public debt represented by
the per cents due in 1905 the. 4 per cents
due in 1907. and the ; per cents due in
1894, aggregating $S40,OD,0oO More than
third Of the sum of these bonds was
refunded in the first three months after the
passage of the act. and on September the
sum had been increased more than 500 CO.,.
600, making in all 1890. SIS. go. resulting in
a net saving of over $S,379,52
Government Surplus.
The ordinary receipts of the government
for the fiscal year 1900 were S79,527 .O6O In
excess of its expenditures. While our re-
ceipts both from customs and internal rev.
enue have been greatly increased. our ex-
penditures have been decreasing Civil and
miscellaneous expenses for the fiscal year
ending June 30, 1900. were nearly S14. 900
less than in 1890, while on the war account
there Is a decrease of more than $93, OOO,0O
IHcTe were required SS,UD,UUU less 10 sup
port the navy this year than last, and eX-
penditures account of Indians were
nearly two and three-quarter million dol
lars less than in 1899. The only two items
of increase in the public expenses of 1900
over 1899 are for pensions and interest on
the public debt. For 1899 expended for
pensions S139, 394. 500. and for the fiscal year
1900 our payments on this account amount
ed to S14O,S77, 316 The net increase of ir
terest on the public debt of 1900 over 1891,
required by the war loan, was $3.50. 4OS. 25.
While Congress authorized the government
to make war loan of $4OO.OOO,OO0 at the
beginning of the with Spain, only
$500. 100000 of bonds were issued, bearing
3 per cent interest, which were promptly
and periodically taken by our citizens
Unless something unforeseen occurs to
reduce our revenues or increase ouf eNpen-
ditures, the Congress at Its next session
should reduce taxation very materially
Lending Money to Europe.
Five years ago we were selling govern
ment bonds bearing high per cent
interest. Now we are redeeming them with
bond at par bearing per cent interest.
We are selling surplus products and
lending our surplus money 10 Europe. Ore
result Of our selling to other nations SO
much more than we have bought from
them during the past three years Is radi-
cal improvement OF our financial relations.
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