Albuquerque daily citizen. [volume] (Albuquerque, N.M.) 1895-1903, 1900-12-03

disposition to deal freely with the canal
question. either in the way OF negotia-
tions with the United states or In taxi
ing measures to promote that water
way.
"Overtures for convention to ef-
feet the building of a canal under the
auspices of the United States Is under
consideration. In the meantime the
views Of congress upon the subject In
the light of the report Of the commits
sion appointed to examine the COM
parative merits OF the various trans
Isthmian ship canal projects, may be
awaited.
II commend to the early attention Of
congress to facilitate the construction Of
such canal and to remove objections
which may arise out OF the convention
called the Clayton Bulwer treaty"
with regard to Spain. the message
says: Satisfactory progress has been
made toward the conclusion OF a gem
erai treaty of friendship and inter
course with Spain In replacement Of
the old treaty which passed into abey-
ance by reason Of the late war
by the terms Of the treaty OF peace
the line bounding the cedcd Philip
pines group In the southwest failed to
include several small Islands lying west
OF Sui. which have always been recog-
nized under Spanish control. Occupa-
tion OF Siebutu and Cagan Zulu by our
naval forces ELECTED claim on the part
OF Spain, the essential equity Of which
could not be gainsald. In order 10 cure
the defect In the treaty by removing
all possible ground Of future misun-
derstanding respecting the interpreta-
tion OF Its third article directed the
negotiation of a supplementary treaty
which will be forthwith laid before the
senate. whereby Spain quits all title
and claim OF title to the islands named
as well as any and all islands belong
ing to the Philippine arch ipelago lying
outside OF the lines described In said
third article, and agrees that all such
islands shall be comprehended In the
cession OF the archipelago as fully as
II they had been expressly included
within those lines. In consideration OF
this cession the United states In to pay
Spain the sum OF 100000"
In that portion of the message de-
|voted to commercial conventions the
following paragraph appears;
"The policy OF rec procity so mani
testify rests upon principles OF interna-
tional equity and has been 50 repeatedly
approved by the people % the United
States, there ought to be no hesitation
In either branch OF congress In giving
to It full effect"
Credit for continued good trade rela-
tlons with South America & given as
| follows: 1.-THE Bureau Of American re-
publics continues TO discharge. with
| the happiest results. tine important
work OF promoting cordial relations be-
tween the United states and Latin
American countries az, of which are
now active members OF the information
| al union, The bureau has be N instru
| mental ip Bringing about an agree
ment for another International Ameri
| can congress. which Is to meet in the
City Of Mexico, October. 1901 The bu
| reau's future for another term OF ten
years is assured by an International
| compact. but congress will doubtless
have much to do with shaping new
lines OF work and gene'ei policy. lis
usefulness to the interests OF Latin
American trade Is widely appreciated
and shows gratifying development"
The financial condition % the govern
ment is spoken Of as followsi 1T i
1 gratifying to be able to state that the
surplus revenues for the fscal year end
ed June 80, 1900, were STs,521 o6O.ls For
six preceding years we had only defi-
/ clts, the aggregate OF which from 1894
TO 1899 inclusive amounted to s2sS,O22,
9sl.lt
"It is graLiLXing, also. to note that
during the year considerable reduc-
ton " shown in tho expenditures OF the
government,
| Because OF excess OF revenues over
expenditures the secretary Of the treas
ury was enabled to apply TO bonds and
other securities to the sinking fund e
amount to $40, 544, 556.O6
| Tie secretary OF lhe treasury esti'
mates that the receipts for The current
fiscal year Will aggregate &5sOO)OO Oo'
and expenditures $500 100000, leaYlnl
excess OF revenues over expenditure
OF $50. 600 OO0. The present condition o.
tho treasury is one OF undoubte.
| strength.
1T will be the duty. as | am sure 4
| win be the disposition Of congress. t'
provide whatever further leg station !
needed 70 insure continued parity unde
all conditions between our two forms o
metallic money Of silver and gold.
'Srhe beneficial effect OF the financla
act OF 1900, so far as relates to modih
; cation Of the national banking act, 1
already apparent, provision for incor
porntion OF national banks with capita
OF not less than $4,000 at places no
o exceeding three thousand inhabitan''
has resulted IN extension of bankin