TRADE BALANCE FOR 1898.
Among the many items of unusual in
terest contained in the annual report
of the Secretary of the Treasury for
the year ending .Tune 30 , 1898 , none
will interest thoughtful persons more
than the extraordinary showing of our
trade with foreign nations. Our experts -
ports during the past yjar. reached the
phenomenal sum of $1,230,587,5109 , or
more than one hundred million dollars
per month. During the same period
our imports fell off greatly , amounting
to only § ( > 4j,977.4. > 5 , the lowest figures
for eighteen years , except the years
3881 , 3885 and 3S80 , says the Silver
Knight-Watchman. The figures given
include silver bullion , which must be
classed as merchandise , since the mints
are closed against the coinage of that
metal. After offsetting imports with
exports , there is a balance due the
United States of $039,010,134. This
represents the amount of gold the Uni
ted States should have received from
other countries during the year , and
our gold money ought to have been in
creased by that amount.
The Secretary's report , however ,
shows that the excess of imports over
exports of gold during the year
amounted to only $10-1,985,285 , or $534-
024,849 less than the amount called for
by the trade balance in our favor.
How does it happen that of the $039-
610,334 due us from other countries to
balance the accounts of last year we
actually received in gold less than one-
fifth of the amount , or $104,985,285 ?
ments through a policy of violent cur
rency contraction , which culminated
in their succeeding in forcing resump
tion in gold alone. The history of every
step taken in the manipulation of our
public debt and currency from the
close of the war down to and includ
ing the demonetization of silver in
1873 , is a history of crime against
American producers and laborers in
the interest of foreign and domestic
bondholders and money dealers.
When resumption took place it was
on boiTowed gold , and our foreign obli
gations outstanding at the time repre
sented many times over the amount of
gold in the country. The folly of clos
ing the mints to the coinage of silver ,
which was at par with gold the world
over at the ratio of IS1to 1 , is not fully
known to our people. The growth of
foreign and domestic indebtedness dur
ing the past quarter of a century , the
development of millionaires and pau
pers and the multiplication of the
homeless are among its fruits , and its
deadly work , which is yet but fairly
begun , if persevered in , will in the end
reduce our people to a dependent ten
antry.
"What Congress Did ,
What the Fifty-fifth Congress was
elected to do and what it really did are
two quite different things.
Taking the Republican platform as a
guide as to what Congress should have
done and its own actions as to what it
actually did , the account is easily sum
med up.
The platform advocated a protection.
HIS WHITE ELEPHANT.
i
President McKinley Whatever shall I do with him ? Nothing seems to move
him. Chicago Democrat.
The answer is , the United States is a
debtor nation , having an enormous
interest account to meet in Europe
each year. As near as it can be ascer
tained , the indebtedness of the people
of the United States to the people of
Europe amounts to six billion dollars ,
consisting of national , State , city and
county bonds , the bonds of railroad and
other corporations , and mortgages on
city property and farms. The interest
on this indebtedness , together with
rents on American property owned by
foreigners , must be paid by Americans
to foreign ship-owners for freight and
the money expended by American trav
elers abroad , fully accounts for the dif
ference between the amount we receiv
ed and the amount that was due to bal
ance the accounts of last year , as here
in set forth.
Thus it will be seen how completely
the industrial forces of the United
States are within the grasp and at the
mercy of the bondocrats or gold trust
of Europe. The largest trade balance
that has ever accrued to the credit of
the United States prior to 1S9S was in
1S97. when it amounted to $28(5.203.144.
or $353,340.090 less than that of last
year. Therefore it will be seen that if
we were able to draw from Europe
last year -only $104.985,285 , we must
have largely added to our foreign debt
in 1897 , notwithstanding the large trade
balance in our favor , and that our for
eign indebtedness must have been
greatly augmented yearly for many
years prior thereto. We have abundant
evidence that this is the case , because
for many years it has been common
knowledge that foreign capital was be-
Jng used in the construction of rail-
Toads , and that foreign capitalists were
making large investments in our flour
ing mills , breweries , mines and other
enterprises. The treasury tables during
these years failed to show that gold , to
represent these investments , had been
In our favor every year except three for
the past twenty-three years. The in
vestments made by foreigners in this
country have simply been reinvest
ments of the interest and dividends
accruing to them on their American
holdings.
The /foundation of. our vast foreign
debt was laid in the years immediately
following the civil war , through the
manipulation of American securities
by British financiers. This country
.was at that time under a suspension
of specie payments , and English finan
ciers not only manipulated our markets
through the gold board , but through
their agents and partners manipulated
our politics , and secured legislation to
orce the resumption of specie pay-
Congress gave that with a vengeance ,
but failed to secure revenue.
Reciprocity was promised iu the plat
form , but neglected by Congress.
, Duties for the restoration of the
American marine were recommended ,
but no such duties were levied.
Pensions were promised , and it can
be truthfully said that there was no
economy practiced in that matter.
As for foreign affairs , the platform
said : "The Nicaraguan canal should
be built , owned and operated by the
United States , and by the purchase of
the Dauish islands we would secure a
proper and much-needed naval station
in the West Indies. " Nothing was done
in regard to either of these important
matters.
Sympathy for Cuba was expressed in
the platform , and the Democrats in
Congress forced the redemption of this
promise.
Civil service was approved and its
extension advised. Nothing was done
to extend civil service and everything
to contract its influence.
But Congress has broken the record
of extravagance. It has passed a bad
army bill , it has made the census bu
reau into a scramble for spoils , and has
allowed politicians to bring death and
suffering into the army.
Representing the Republican party ,
the Fifty-fifth Congress has made a
record which will destroy the adminis
tration it represents.
\Vo7lciMtrmcn to Ponder.
If this administration takes over the
Philippines permanently the savages
whom we are now shooting and bayo
neting will next appear as competitors
with American labor in the industrial
field. The cotton goods which we are
now sending to the far east may some
day be manufactured iu Manila , and
the raw product carried across the Pa
cific in ships to which tiie people of this
country will be compelled to pay a sub
sidy. The products of the Philippines
tobacco and sugar may be brought in
to competition with the products of the
United States , and when that time
comes American labor will find itself
confronted with the problem of re
duced wages. Baltimore Sun.
Insolence of Imperialism.
Imperialism is showing up in its true
colors when an arrant pair of dema
gogues like Grosveuor of Ohio ( McKin-
ley's political chief of staff ) and Can
non of Illinois bawl out "treason' ' on
the floor of the House as their best an
swer to Democrats , Republicans and
Populists who denounce the politicians'
war of conquest and subjugation in the
Philippines. Pittsburg Post
KINDNESS TO HOBSON'S MEN ,
Kcro of the Merrimac Acknowledges
the Courtesy of s. ia Captors.
Lieutenant Uobson opens the thir <
of his "Merrimac" papers in the Cen
tury , with an account of the kind re
ception he and his men received on th <
Reina Mercedes.
When we were all on board and hat
laid aside our arms and accoutrements
the launch headed around and stooc
for the Reina Mercedes , and I directec
the men , who-were shiveeing , to ge ;
down near the furnace , to which no ob
jectiou was raised. Not a word was
spoken till we reached the Mercedes
However great may have been theii
curiosity and interest , the officers , af
tcr thdir first kind words of greeting
forbore1 to ask questions or make re
marks. When we came alongside th (
senior officer asked if I would be gooc
enough to go on board with my men
So courteous was his manner we mighl
have been guests coming to breakfast
The officer of the deck and the execu
tive officer met us at the head of the
gangway. I bowed salute , and inspect
cd the men for their condition. Those
who were still shivering were sent for
ward at once for stimulants and fric
tion. Kelly's lip showed a wide gasl
that had become clogged with coai
dust. Murphy had a wound in his right
hip , twelve or fourteen inches in length
and perhaps a quarter or a half of an
inch in depth , which he had received
in the biast when he fired torpedo No ,
1 ; and though the wound certainly
must have been very painful he had
not uttered a groan or made any ref
erence to it during all the time that
had elapsed. It was only after our ar
rival on the Mercedes that we learned
of it. The men were all more or less
scratched and bruised from colliding
with objects in the vortex whirl , but
there was no injury of consequence ,
the life-preservers having formed ex
cellent buffers. The executive officer
followed the inspection , and gave di
rections for the care of the men. Kelly
and Murphy went to the surgeon , and
all were given facilities for washing
and were supplied with dry clothing.
Richard Harding Davis is making a
dramatization of "The King's Jackal. "
.Taincs Barrio's "Margaret Ogilvy"
lias just appeared in a Swedish transla
tion.
tion.A
A new literary iwiew is to appear in
Paris scon under the editorship of
Maurice Bernliardt. The contributors
are to be the dramatists in whose
plays Sarah Bernliardt has appeared ,
; md among those who have already
promised their collaboration are Sar-
: lou , Rostand and Catulle Mendes.
Olive Schreiner absolutely refuses to
je interviewed. She said recently to a
roung reporter who called to see her at
ler African farm : "I heartily condemn
ho modern interview. A person is en-
snarcd into a light and superficial coi-
oquy upon a subject which demands
leep thought and mature reflection. If
i man or a woman has a message to
ssue , it cannot be uttered forcefully
n one of these interviews. Interviews
ire abominations which accentuate the
personality at the expense of the prin
ciple. "
An article on the suppressed books
) f writers of fiction now living would
) e , the Bookman thinks , of consider-
ible interest. Mr. Kipling has stopped
he sale of "The City of Dreadful
Slight , " "Letters of Marque" and
'Echoes , " and all now fetch a high
n-ice. Probably the most valuable of
tfr. Kipling's suppressed books is ,
lowever , one entitled , "A First Admiu-
stration" a collection of stories print-
id in India , but never offered for sale
n the ordinary way. It is said that
here are only some three copies of this
) ock in existence , the remainder of a
arge edition having been destroyed.
The composition of the magnificent
) oem , "The Recessional , " was , accord-
ng to the report of an interviewer , an
xceeclingly difficult task. Rudyard
vipling. who is apparently less difli-
: ult to entrap than formerly , and also
nore communicative , said he had prom-
sod to write a poeni on the jubilee for
he Times , and when it was due all his
efforts dissatisfied him. The Times
: cpt writing for it , and at last sent tel-
'grams. "So I shut myself in a room ,
vith a determination to stay there un-
il I had written a jubilee poem. Sit
ing down with all my previous at-
empts before me. I searched through
hose dozens of sketches till at last I
'ound just one line I liked. That was
Lest we forget. ' Round these words
The Recessional" was written. " The
cvelation of this fact destroys the the-
> ry that , as a general rule , a work of
jenius is the inspiration of a moment.
) n the contrary , some of the greatest
Masterpieces have been produced only
iflor labored thought and with despair
ookiiig through the window.
AincrTc.in
The sleepy Spaniards at Manila are
istounded at the energy of the Ameri-
ans. They can hot understand why
he Americans keep their stores open
.t noon , when it has been the accepted
ustoin of years to close them at that
lour. But it is the great game of base-
lall that is the mystery which passes
.11 mysteries. The Filipinos gather
ronderiugly at the edges of the crowd
nd peer into the field. They can not
athorn the enthusiasm.
There is one attractive feature about
war drama on the stage : no investl-
ating commission appears in counec-
ion.
THE FILIPINO CHIEF.
HE'S THE BEST MALAY SPECIMEN -
MEN ! N HISTORY.
Of Doubtful Parentage , the Filipino
Leader Is Well Educated , a Lover of
Freedom , a Great Organizer and a
Cuiminc Diplomat.
Aguinaldo Is a highly interesting
character. He has had a remarkable
career for so young a man , and events
seem to point to him from the first as
a man of destiny. His complexion is
about half way between the reddish-
brown of the Malay and the olive of
the Spaniard. There is a yellowish
tinge about it which , taken in connec
tion with his forehead , would lead one
to infer that a modicum of Chinese
blood flowed in his veins , and that in
his pedigree was some individual of
Igorrote-Chinese or of Tagalo-Chinese
characteristics. Upon this point it will
be difficult , if not impossible , ever to
learn the exact truth. So deep has
been the moral mire of the Philippines
under Spanish rule , so universal the
immorality of the dominant race , that
neither the civil nor religious authori-
ILOILO , TIIE FALLEN FILIPINO STRONGHOLD.
ties have ever cared to keep any record
of the alliances and misalliances , the
bH'ths legitimate and illegitimate , the
wives , concubines and mistresses ,
slaves and abducted women who have
filled the long-years of Spanish rule.
In his features , face and skull Aguin-
nldo looks more like a European than
a Malay. He is handsome , according
to Spanish standard of masculine beau
ty. Friends and enemies agree that he
is intelligent , ambitious , far-sighted ,
brave , self-controlled , honest , moral ,
vindictive , and at times cruel. To those
who like him he is courteous , polished ,
thoughtful and dignified. To those who
l U .v '
KMILJO ACU1NAI.UO.
dislike him he is insincere , pretentious ,
vain and arrogant. Both admit him to
be genial , generous , self-sacrificing ,
popular and capable of the administra
tion of affairs.
His friends say that he was the son
of a Spanish general ; "his enemies in
Manila that he was the offspring of a
dissolute but learned Jesuit. At the
age of 4 he was a house boy in the
home of a Jesuit priest in Cavite. A
house boy in the Philippines , as in
China , plays the part of a hous dog
rather than that of a domestic servant.
If the head of the house is cruel he is
kicked jiul cuffed by everybody and
lives on short commons ; if his master is
kind and affectionate he enjoys about
the same attention as one of the chil
dren of the family. The only work
which he does is to run from one part
of the house to the other or from the
house to any part of the grounds with
in the compound or space inclosed by
the walls around the entire establish
ment. He helps the table boy to clean
the silver , to scour the knives , and to
set and unset the table. Aguinaldo's
master \vas a very kind man and took
a deep interest in the welfare of his
little protege. He dressed him well , so
much so : is to excite the notice and
oven the wrath of some neighbors.
More important still , he gave the boy
an education , which , though unequal to
what every child receives in the United
States , was a hundredfold better than
what is bestowed upon the little Tagais
of Luzon.
Aguiualdo was an apt scholar. He
was precocious like the Malay , ambi
tious like the Caucasian , and had a
memory like the Chinaman the great
est memory possessed by man. At the
age of seven he was the equal of most
half-breed boys of 12. At 10 he was
mentally the superior of most of the
half-breeds of his district. When he
was 14 or 13 he was enrolled in the
medical department of the Pontifical
University of ! Manila , under Profs.
Xalda and Buitrago. He was a bright
student , but nothing is known of his
college career. Shortly after this time
he committed what is an unpardonable
sin , both secular and religious , in the
Philippines by joining the Masonic or
der. Masonry was a prohibited thing
in the Philippines under Spanish rule ,
and any man joining the organization
might under an ancient law be tortured
and executed. About this time ( in 1888)
he got into sonic trouble with the Span
ish authorities and went to Hong Kong
to escape their tortures. While here he
took advantage of all the educational
privileges that came in his way. He
attended the drills and parades of the
British garrisons , frequented the gun-
shops on Queen's road , purchased fire
arms for his own use , and in every pos
sible way increased his fund of prac
tical knowledge. He entered the Chi
nese army and learned all he was per
mitted to learn there. Then he joined
the navy and gained all the knowledge
he could of naval warfare and equip
ment. He studied the lives and cam
paigns of Bonaparte , Wellington , Von
Moltke and Grant. He also picked up
at least a smattering of English ,
French , Latin and Chinese.
At the outbreak of the great insurrec
tion in 1S9G he held some political posi
tion in a provincial town. He was very
popular with all sections of the people
except the order of Dominican friars ,
whose tyranny he openly denounced.
He gradually came to the front as a
leader of a section which was willing
to exhaust diplomacy in dealing with
Spain before resorting to arms. He ex
hausted diplomacy completely and then
prepared to fight. As an organizer of
the natives he was a wonder. Like
Bonaparte , he seemed to exert a
strange fascination upon his people.
Wherever he went he was followed by
troops of admirers , and while other
generals suffered at times he and his
camp were always supplied with the
choicest supplies and comforts. Nor
was the feeling of more than admira
tion confined to the Tagais , stulid Igor-
rotes , and half-naked Negritos. Cun
ning and skeptical half-breeds , and
even Spaniards themselves , seemed to
share in this odd hero-worship.
MACHINE KEEPS BOOKS.
Ingenious Device in a New York Bank
Is Operated by Electricity.
An adding machine in use in the
Union Dime Savings bank , New York
City , is operated by electricity. It
marks in a depositor's book the amount
of his deposit , and makes a duplicate
of the entry on a tape locked in a box
attached to the machine. At the same
time the amount of the deposit is au
tomatically added to the total of the
bank's transactions , so that a glance at
the latter would tell just how much
money the bank had received since its
organization.
The machine is placed on a table at
the teller's right hand. In front of it is
a keyboard , with rows of figures ar
ranged like the letters on a typewriter.
When a deposit is made the teller
places the depositor's book under a
cylinder filled with movable figures on
the side of the machine. Then he pulls
the figures on the keyboard that rep
resent theamount of the deposit. These
figures are connected by wires with the
figures on the cylinder. The teller next
moves a lever and that sets the ma
chine in motion. The amount of the.
deposit is printed on the book and at
the same time on a tape locked in a
box placed just above the cylinder , so j
that a double entry is made. Should
the teller make any mistake there is an
ingenious contrivance attached to the
machine that would prevent it from
working and thus notify him of the
error.
After tiie entries have been made in
the'depositor's book and on the bank's
tape another cylinder is set in motion.
This is in the middle of the machine
and contains movable figures running
THIS MACHINE KHIIPS BOOKS.
up into the millions. These figures tell
the total of the bank's receipts since it
was organized and the amount that has
just been deposited is added to it.
At the end of a day's business the
officials of the bank add together the
totals registered on the two receiving
machines , deduct from them the total
registered on the paying out machine
and strike a trial balance in a moment.
The machines are inclosed in glass
cases , so that every part can be readily
seen.
City of Bridges.
Ghent , Belgium , is built on twenty-
six islands , which are connected with
one another by eighty bridges. Three
hundred streets and thirty public
squares are contained in these islands
Debtor and Creditor Notion- *
P.imetallists have again and
pointed out the difference between the.
monetary conditions existing here anc
those which obtain in England. This
being the greatest producing and debtor
nation , the great creditor of the world ,
it necessarily follows that a system
highly favorable to the latter might be
almost ruinous to us. It is to Engljiul's
advantage as a creditor to make money
dear , because it increases the value of
her outstanding claims. The interests
of the United States require chpnper
the- money
money , because it enhances
value of our products , and thus eases
up the burden of our ever increasing
debt. Perfect equity requires neither
"dear" money nor "cheap" money , but
money that is simply "hones ! . " Th.it is-
to say , money that can be acquired by
the expenditure of a just and reason
able amount of labor. That the gold
standard does not supply such money is
conclusively proved by tle almost uni
versal distress prevailing among out
producing classes. Talk of cheapened
production by mechanical improve
ments and the like is utterly fallacious
and misleading. No matter what
provcments may have been made
productive methods , it does not follow
that the average purchasing power of
money should increase. The gold
standard idea upon this point is that
whatever mechanical or other improve
ments may be made whereby produc
tion becomes easier , the mcr. who con
trol the money supply should have all
the benefits. For example , some indi
vidual invents a new fertilizer. The
owners of farms , the soil of which has
become somewhat impoverished , pur-
phase the fertilizer in great quantities.
Thus they enrich the soil , and produce
larger crops. It would seem as a sim
ple matter of justice that these fann
ers should have , at least , a portion of
the benefits of their own enterprise and
thrift , but the gold champion says' No. ' '
The farmer has produced a larger crop ,
find therefore he must sell more cheap
ly. As a matter of fact , the largtr crops
at' recent years have actually brought
less money than the smaller crops of
Cornier times. So the producers have
ictually been impoverished by inci eas
ing their production. The miser and
the money lender has not only raked
iu all the benefits , but he has acci-m-
dished a great dial more.
Our Forciirn Ueht.
The gold standard mean * absjluto
: uin to all but the moneyed classes iu
the United States. To maintain it we
iiust sell our produce so much nioro
; hcaply than other countries will -e'l it ,
is to enable us to pay for eveiythlnir wo
3tiy abroad , besides the interest upon
nir foreign debt , amounting to perhaps
? -iOOGOOJCO ( a year , and still have a
jaiauce in our favor. But it lau-t he
. omembered that the cheaper oir pred
icts become the more it will tak" o
: hem to settle this va-t foreign < 1 < ma ml
"or gold. If price-s should fall o.e-half
'roni their present figures , we would
lave to soil twice as many protlu- to
ealize the same amount of money ; and
f we could spare such a quantity , it
ivould probably glut the marker. In
"me , the more we sold the wo--o we
ivould be off. There is nothing iu eco-
lomic history to compare with the ab-
wdities and contradictious of il-1 ar-
ruments made on behalf of th ; * gold
itandard. In one breath wo arc told
hat the cause of low prices is "over-
> reduction , " in the next we are in-
ormed that we must produce st'll more
nd sell at still lower prices iu oder to
indcrsell all other nations in tle Euro-
tean market. There is but one n mcdy
or the unnatural cond t'o s wl.iIi now
xist. That is the complete rcnioneti/a-
ion of silver. Such a measure wi.I not
nly increase the money volume of the
Vesteru world , thus giving a h ° 'ilthy
timulus to prices , but it will deprive
ilver-using nations of the tremendous
dvantage which they now have by re.i-
on of the difference in exchange. It
rill give the producer sone of the bne-
ts accruing from his own labor , and
tart the republic upon a nev. * and
rightcr career of prosporit- which.
11 classes may share.
The p1'u mall ue-ositor who' . *
as hir , oUO dollai's in the savings bank
; sheer hypocrisy. The interests of
[ lose people are 011 the si tie of btt-Sr.e.-s
ctivity and general prosperity , not nn
ie sickof dear nionry. 'i \ \ e I-.m 'ivd
ollars is a very small item in th ' t t-oii-
my of any man's life. If , as a ivsult
f falling prices , which uj ans lining
loney. one of these depositors finds his
mployment gone , he cau very e.ii-ily
shaust his 300 in a single ye.ir. Tiie
fi es in which the reiaoueiization of
ilvcr would work a ! iartl-hi : > ar ex-
nedingly rare , if in fe : tuere ! > : ; ny
t all. During the war many djl : s
ere paid in greenbacks that had 1 ei > n
Diitractod on the basis of coin. Ltit
ery few people were ruined thereby.
a the contrary , the rising pricepro -
ueeJ a condition of weil-n'gli un\vral ;
rosperity. There are , in truth , but
a infinitesimal number of persons who
re benefited by the gold standard.
hose are the few great bankers who
> ntrol nearly the entire stock of the-
orld's money , and who are separated
Y an almost impassable gulf from the
ast army of toilers .and producers.
Some years ago in France there died
maiden lady who had been for many
oars a habitual snufftaker. She left
irections in her will that her coffin
as to be filled with tobacco , that the
tortuary chamber was to be carpeted
ith it , and that tobacco was to b&
mattered before the hearse that con.
eyed her to the cemetery. j ,
r
