Newspaper Page Text
TOL.VI, NO. 32.
$1.00 A TEAK. TOPEKA, KANSAS, AUGUST 8, 1894. OFFICIAL STATE PAPER. MORE BONDS. TBEIE ISSUE DEPENDS ON DOTJBT Srl PUL OIBOUHSTANOES. Eevenue on Whisky and Tariff on Sugar Will Not Keep the Treasury Prom Going Dry. Washington, Aug. 5. There are dif ferences of j opinion among treasury o fficiala as to the probabilities of an other bond issue. Neither Mr. Carlisle nor Assistant Secretary Curtis is willing to admit that there is any real cause for alarm in the present financial situation. It is known, however, the president and his advisers are watching with eager interest every change in the financial situation and that every phase of it is being carefully and thoughtfully stud ied. Notwithstanding this solicitude, it is believed it is the judgment of the president that the situation does not famish any just apprehension and that better times may confidently be ex pected soon. From this point os view it ia argued the passage of the pending tariff bill is sure to result in a prompt and general revival of business, and that in consequence there will be a large in crease in the government revenues. Receipts from customs, which for many months past have been gradually growing less, it is believed will show a marked improvement from the very first and will continue to increase until normal conditions have been reached. It i3 contended that notwithstanding the fact the gold reserve has reached low water mark of about 52 million dollars the government is really far better able to meet its obligations to-day than it was just prior to the February bond issue. There are some, however, who take a less hopeful view of affairs. They ob serve that the gold reserve, which six montha ego was brought up to its normal condition by an increase of 50 million dollars in the publio debt, is again melting away and already reduced to a point 13 million dollars below the lowest point reached prior to the Febru ary bond issue. They contemplate with uneasiness the fact that for a year and more the ordi nary expenses of the government have largely exceeded the receipts. This was true, even during last month, when, in expectation of a material increase in the tax on whisky, the receipts from in ternal revenue were abnormally'larze It is argued, should the pending tariff bill become a law and go into operation, even as early aa the middle of the pres ent month, no material increase in the revenue could reasonably be expected earlier than next December, for the rea son the tariff bill will have psssad too late ia the tzzzan to realize my consid erable amount from the fall importa tions. The treaausy figures show there ia now in this country at least a six months' supply of sugar, so little may be expected from that source. This is true, also, of whisky. The statistics of the internal revenue bureau Bhow the tax haa already bean paid on over 13 million gallons of whisky in excess of the amount upon which the tax had been paid one year ago. There fore, but little relief may be expected from this source before December. The only recourse, therefore, it is contended, will be a bond issue, and there are many well-informed persons who believe it this congress does not pass a prohibitive resolution before adjournment, 50 mil lion dollars or more will soon be issued. That there would be no difficulty in placing any reasonable amount, even at the premium exacted in Februaay, seems apparent from the fact the Pebruary bonds are being sold at a premium of 1.27 per cent. Inclined Toward Politics. Chicago, August 4. The American Railway union baa issued a long resolu tion which it terms an "address to the voters of the United States." The address, which is an urgent rail to vote the ticket of the Populist party, opens J with the history of the Ameri can Railway union, then goes into a detailed account of allegedjeconomical conditions at Pullman, which is followed up by a long statement of how the union came to take up the cause of the Pull man strikers and declare the boycott. The history of the strike is then gone over, no new facts, however, being given. It is denied that the officials . of the American Railway union in any way ob structed the operation of the interstate commerce law. The address closes with an appeal to support "the party which bears the name of the sovereign people." The union has also issued an appeal for funds, declaring "the American Rail way union needs money, needs it badly, and at once." Mr. Deba said he would not under any circumstances be a candidate for any office from constable to president lie declares his one publio ambition is the success of the American Railway union. Two Kansas Bills.' Washington, August 3. Senator Peffer to-day introduced a bill directing the secretary of agriculture to construct reservoirs for the storage of water in the semi-arid states, andjappropriating $500,000 for this purposes. Representative Baker of Kansas, haa introduced a bill to authorize the secre tary of agriculture to establish reservoirs for the tillable lands west of the 00th meridian. Channels for distributing the water are also contemplated in the bill and an appropriation ct 500,000 ia jl:sd for. CHINA AND JAPAN. Cleveland Wants to Co-operate With Great Britian, Germany and Italy. Washington, AugUBt 4. President Cleveland has practically decided to unite with Great Britain, Germany and Italy to preserve forcibly the neutrality of what are known aa the treaty ports of China during the war between that em pire and Japan. The Chinese govern ment has been fully informed of the intention of the powers through its min ister at Washington, and it is under stood that the emperor will submit without protest to their forcible occupa tion of his principal ports, because he knows it would be useless to do other wise. It is not a question of pride with him, but of prudence. Ha realizes that he ia in no condition to resist the policy of the European nations, and that an empty remonstrance would do more harm than good. The Japanese government assents cheerfully to the arrangement, and has intimated that a similar occupation of her principal porta would meet with no resistance. The plan was suggested by Lord Rose bery, the British premier, but the nego tiations have mostly been conducted in Washington by Sir Julian Pauncefote, the British ambassador; Baron Von Sauarma-Jeltsob, the German ambassa dor; 'Baron Fava, the Italian ambassa dor, and Secretary Gresham, represent ing their respective governments. An earnest attempt has been made to bring M. Patenotre, the French ambas sador, and Prince Cantacuzene, the Raaeian minister, into the negotiations, but under instructions from their gov ernments these diplomatists have kept away from Washington, the former be ing at Cape May and the latter at New London, Conn. Secretary Gresham has not yet an nounced the formal assent of the United States to the agreement, but all the con ferences have been held in his office, the memoranda are all in his hands and he has so . thoroughly committed government to the plan that it would be impossible for him to withdraw now without the sacrifice of his dignity and the respect of those with whom he haa been negotiating. The entire fleet of four vessels, three cruisers and a little gunboat, and one of the cruisers an antiquated old craft, would be puny and insignificant when compared with either Chinese or Japan ese fleets. The possibility substantially of strengthening our China fleet within a reasonable length of time, moreover, is rather remote. r Members cf the senate committee on foxelgn affairs say that if a tmtylato ba i by all the rowers, ecch m to desired, it will necessarily have to be ratified by the senate. No proposition haa been made to the senate concerning the treaty porta in Japan and China. It ia also eaid that a treaty of the kind would be liable to meet with a great deal of opposition, aa it is considered by many senators to be in the line of en tangling foreign alliances and contrary to the policy of this country. A dispatch from Shanghai confirms the report that a second battle has been fought at Yashan between the Chinese and Japanese. It is added that the Chinese were defeated. Why He Quit the Democracy. Bourbon, Ind., August 3. C. G. Conn, the present representative from the Thirteenth con gr sessional district of In diana, waa recently renominated for re election by the democracy. He has de clined in a letter, in which he says: "I am fearful that my independent position on the labor, finance and other important questions would, in a measure, conflict with the policy of the demo cratic party during the coming congres sional campaign and be the means of causing serious party dissensions. "I am unalterably opposed to the fur ther extension of corporate power, either by tariff legislation or through the ordi nary process of direct laws, and favor any reasonable method of destroying trust, railroad or other oppressive com bines. "I am opposed to the use of federal soldiers to subdue labor strikes until every means for a peaceful Eettlement shall have been exhausted, and only then, after the local authorities have de manded federal interference. "The time has come when publio men must take sides either for or against the further centralization of political and corporate power, and if we are to have a government of the people, some way must be found to restrict the growth of that power." New Mexico and Arizona. Washington, August 3. The New Mexico and Arizona admission bills were reported to the lenate today. In the case of New Mexico a constitutional convention is provided for, the delegates to which are to be chosen at election to bo held on the second Tuesday in June, 1805, and the convention ia to meet on the second Tuesday in the following July. In case they adopt a constitution it ia to be reported to the people for rati fication to be held on Tuesday and first Monday in November, 1895. The time of residence necessary to be come a voter is fixed at lix months, in stead of sixty days, aa in the hocse bill. Arizona has already adopted a consti tution and the bill in har case provides for admission the first day cf A'cjuct, 1803, and the e!ctioa of a dslrtetoths . Fifty-foTirth ccrs?t;A