Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-12-04

3nts. inttadhts the present eoiu sesrfst
OF x1Jo.0U.o0o. would be x2S9. SG'. %.
Such balance November 80. 1899. was
S...~;. 495. 3nl.os. In the general fund.
which Is wholly separate from the re-
serve and trust funds. there was ON No
vemlser 20. Ss0.E0.013.1o in gold coin
aud bullion, 10 which should be added
S..,-.,.ao, 300 in gold certificates subject to
issue, against which there is held in the
Division Of Redemption gold coin and
bullion, making total holding OF free
gold amounting TO x93.041 .3i3.1s.
II will be the duty as am snre il win
hc the disposition OF the Congress 10 pro
vide whatever further legislation Is need
ed 10 insure the continued parity under
all conditions between our two forms Of
metallic money. silver and gold.
Our surplus revenues have pcrmitte.
the Secretary II the Treasury since the
clos, of the fiscal year to call in the fund
cti loan Of 1S9! continued NJ > per cent
in the sum OF So5.36i.Jo0. To and in
cludin. November 80. x23,4,s-lod of
these bonds have been paid. This sum.
together with the amount which may az
crnc from further redempiions under he
cali. will be- applied 10 The sinking fund
The law ~ March u. 1900. provided
for rttundIu- into per cent thirty-year
bonds. payable. principal and interest. in
-0hl coin Of the present Standard value.
that portion Of the public debt represent
~ ~ he = per cent bonds Of 1905. the 4
prrceni> If 1907. ami the = perceuls of
1904 Of which there WAS outstanding at
tn. date nf said lax $50. 1892. Thu
holders ~ the Old bonds presented them
fur exchange between March ii aud No
senii,,r 20 ~ he amount ~ MA DAB. 100
The Ret saving to the Government ga
these transactions aggregates -. los l6ii
Another eject Of the operation. a. Sia.
"a hy the Secretary. y ~ reduce the
rhargc upon the Treasury for the paw
ncnt OF interest from the. dates AZ re-
funding 10 February !, 1874. by the sum
n more Than seven million dollars aulu-
ally. From February Il 1904. to luly !.
1891. ih.. animal interest charge Will u.
r'v!uvrd lay The sum Of more than i've
millions. and for lh,. thiri ecu month end
ins August / 1905. liz about ons. million
The inil details ~ the rrfundinE arc xiv
~ III ine Annual Report ~ the Secretary
Of the Treasury
Thu beneficial eiiee; ~ The financial acr
~ 1900. - far A. ii relates 10 a modiiicI-
tion ~ The national banking aci. r. al-
ready apparent The provision for the
inc"rpoI alton ri national banks with a
capital Of hot lc>s than >21-..spp in places
mot exceeding three Thousand inna bitauiS
has Resulted IN The extension If banking
facilities ta many small communities
hitherto unall" To provide themselves
with banking institutions under the ua
iionai system. There were or:anizcI
f9arI The enactment ~ the Law up 70 ana
in.-lu.in- November "a ~, national
banks. ~ which ri were with capital
les than >-n,t-S. aud ltr; with capital u
>'bi's-i or more.
II . w"Ithy ~ mention that the -rest-t
number "f banks l--ing organized nndrr
Tie new Law are IN sections whcre the
Bt-cd 81 banking facilities has been most
pr"nouRCei. lows stands trst. with -
hanks 81 the smaller elias while Tcxae.
Oklahoma Indian Territory. ans the mid
lie and western sections ~ the country
have al>" awaited themselves largely ~
The privileges under the new law.
y large increase ia n;stional-bauIs note
circulation la~ resulted from Jhr I,r0yi-
Sion VI thu AIT which permits national
banks t. issue circulating notes To the
par value 81 the United States bonds de-
p">itc,i a security instead Of only - per
cent thereof. Is heretofore. Til" increase
~ circulating nntr~ from March II t. NJ
v"nl.,.r "a il So S>:,.I7n
The party ia power J., committed H.
~IJ,h legislation A. will better make the
currency responsive ~ the varying needs
~ business A. All seasons and il all SC
lions
our foreign trade shows 4 renlaT sabl.
record ~ commercial and industrial prog
res. The fol.l 20 imports and exports
lur Ihr fr>r time in thu history ~ thr
cnuuuv cAcre~jcd trio billions ~ dollars.
The exports arr greater than they have
,.v.r hecu before. the total for the fiscal
year 1851 heiuc Sl.:;al lSc;.O>, an in
crease ever lSei IL >l61. an. 80. AZ iu-
crease over lS'> " >I6c;tsslI.,- ever
1891 az >it@.lS',5-6. ana greater than
1896 10y S3ll.sI614i
Tn" growth Of manufactures IN the
| uirrl States j. evidenced w The fact
that exports NJ manufactured products
largely cN,7-e7I tho~r of any previous
year. their vai1c for t:a0 beng Si;;-:;.-
NIl.1-'6. against $50 :1:r3,.ii IL IN l>,+'. az
iL,1 CO.. \. = l,,'r cent
Agricultural prulHrt> Wcrr al>.I rAlor,
~ during i.E+l III greater vuionr han i'll
] >'E'. the total for tie yrar l.ciu- 49,.
~. -. a-aiii>; S1>4..Gli l.. ia iSEt
I'll, lmpori. FIR lhe y-aT amounted ~
>>iA.hil-i-i. 40 increase ever i>t<' NJ
Si.t3. 1.r1.tI'I This iucr.a>, j. iAr-,ly iu
materials Tor manufacture. sal : III
rc>ls,u>. 1u 'A- rauid Developments Il
manufacturing III ihr Init,>l States.
Nhil,. there MAJ impaired frr ll~,- il
manufactures in 1!ssl nl5,tcrirl IN iis..