Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1900-09-10


issue with a capital of $25, 900, for the
benefit of villages n rural communi-
ties and bringing the opportunity for
profitable business in banking within
the reach of moderate capital. Many
are already awaiting themselves of this
privilege. During the past year more
than 49, 900. 900 of United States bonds
have been paid from the surplus reve-
nues of the treasury and in addition
5000 GOO of 2 per cents matured. call
I'd by the government, are in process of
payment. Pacific railroad bonds issued
by the government in aid of the roads
in the sum of nearly s44. ooo, 900 have
been paid since December, 1897. The
treasury balance is in satisfactory con-
dition. showing on September 1, $685.
10000 in addition to the $3.50, 100000.
| gold reserve held in the treasury. The
governments relation with the Pacific
ed, 1924. All 900 being received from these
roads. the greater part in cash and the
remainder with ample securities for the
payments deferred.
INCREASE OF CURRENCY.
dicted four years ago., the volume of
our currency is greater per capita than
it has ever been. 1t was $21.1O in 1896.
1t has increased to SIG. so on July 1, 1900,
and $26.S5 on September l, 1900. Our
total money on July I, 1896. was 81. $685.
434. 966; on July 1900, it was 81 O62, 425, 496
and s., 096, 6S3, 042 on September 1, 1900.
Our industrial and agricultural o n
ditionS are more promising than they
have been for many years: probably
more so than they have ever been. Pros
perity abounds everywhere throughout
the republic. l rejoice that the south as
| well as the northern states are enjoying
a full share of this improved national
condition., n that all are contributing
largely to our remarkable industrial de-
velopment. The money lender receives
lower rewards for his capital than If it
were invested 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 pro-
ducing 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 a million dollars for
every day of the yea and these sums
have one into the homes and enter
prises of the people. There has been an
increase of over $50, 0OO, 900 in the exports
Of agricultural products; $92. 692, 229 in
manufacturers and in the products of
the mines over $10,O 900, 000. Our trade
1 III 1oIl ~ 6lSC
to the people of the country. In 1893 we
sold abroad $615, 1882, GIG of products more
than we bought abroad; in 1899, $685.
S74, s13, and in 1900, $544,4 All, 701, making
during the three years a total balance
in our favor of 81, $50, 779, 190-nearly five
times the balance of trade in our IA
vor for the whole period of 10S years from
1890 to June 80, 1897, inclusive
VAST INCREASE OF GOLD.
Four hundred and thirty-six million
dollars of gold nave been added to the
gold stock of the United Safes since Ju-
ly L. 1896. The law of March IA, 1890,
authorized the refunding in 2 per cent
bonds of that part OF the public debt
represented by the 3 per cents due in
1908, the 4 per cents due in 1907 and the
S per cents due in 1904. ag%gregating
$S4O, 600, 900. More than One-third of the
sum of these bonds was refunded In the
first three months after the passage of
the act, and on September 10, the sum
had been increased more than $33, 0O0,-
900, making in all $3.50, 57S, $50. resulting
in q net saving of over $S,379, $40. The
ordinary receipts of the government for
the fiscal year of 1900 were $79,5 27 $50 in
excess of it's expenditures. While our
receipts both from customs n internal
revenue have been greatly increased,
our expenditures have been decreasing.
the fiscal wear ending June 80, 1900, were
nearly $14, 900, 900 less than in 1899, while
on the war account there is a decrease
of more than sos, 600, 900. There were re-
quired $4,000 900 less to support the navy
this year han last, and expenditures on
account of ndian were two and three
quarter million dollars less than 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 we expended for pensions $139 =
1874, 929. and for the fiscal year 1900 our
payments on this account amounted to
$40, ST., 316. The net increase of interest
on the public debt of 1900 over 1899 re.
quired by the war loan was 1858, 408. Is.
While congress authorized the govern
ment to make a war loan of $500, 600, 600
at the beginning of the war with
Spain, only 5000, 900, 900 of the bonds were
issued, bearing 3 per cent interest, which
We're promptly and periodically taken
by our citizens. Unless something un-
foreseen occur to reduce our revenues OF
increase our expenditures, the congress
at it's next session should educe taxation
very materially.
THE SALE OF 2 PER CENT BONDS
Five years ago we were selling gov
eminent bonds bearing as high as S pei
cent interest. Now we are redeeming
them with a bond at par bearing 2 pei
cent interest. We are selling our sur
plus money tor Europe. One result OF
our selling to other nations SO much more
than we have bought from them during
the past three years is a radical improve
mn