Sivut kuvina
PDF
ePub

debt held abroad, amounting to $222,531,022, whereby the creditors agreed to accept, instead of the full interest and amortization, which would be $14,227,677, an annual payment of $7.887,600 in gold for the first five years, up to July 12, 1898, then the full interest, amounting to $11,081,780, till Jan. 12, 1901, and after that interest and amortization in full. The internal gold debt was officially stated, in the beginning of 1894, to amount to $50,646,366, for which the annual charge is $2,646,667. In addition, the Government is obligated to pay a railroad guarantee of $3,791,783 in gold, and about $350,000 in bounties for the export of fresh meat and the manufacture of sugar. The internal currency debt, including the floating debt consolidated early in 1894, amounts to $59,269,587. Adding the gold equivalent of this, the total acknowledged direct debt of the National Government is $302,000,000. The annual service of the debt, including railroad guarantees, amounts to $18,100.000. The indirect obligations of the Government include guaranteed cedulas and the note issues of the provincial banks, to guarantee which the Government issued $158,412,000 of gold 44-per-cent. bonds, which bonds were annulled when the National Government assumed direct responsibility for the bank notes. The total amount of these outstanding in the beginning of 1894 was $306,726,000, not including $41.324,000 illegally emitted, and therefore not guaranteed by the Government. An agreement made with the Rothschild committee in 1891 bound the Government to withdraw and burn $15,000,000 of bank notes annually, but the Government has authorized fresh issues exceeding the amounts withdrawn, and thus swelled the volume of the currency by $50,000,000 in two years. The revenue for 1894 was calculated by the Finance Minister at $26,305,800 in currency and $34,342,982 in gold, the latter figure representing the import and export duties which are charged at gold rates, though not to a large extent collected in coin. The expenditure for 1894 was estimated by Dr. Terry at $17,168,097 in gold and $74,007,356 in currency. The estimates allow $6,000,000 for the reduction of the notes in circulation, but the policy of the Government has been to maintain the premium on gold at 200 per cent. The cedulas for which the National Government has assumed responsibility are those of the National Hypothecary Bank, amounting to $72,310,800 in currency and $15.431,550 in gold. Adding the cedulas and the bank notes, converted to specie values at the rate of 1 gold dollar for 3 in paper, the acknowledged debt of the National Government amounts to $434,000,000 in gold. The cedulas of the Provincial Hypothecary Bank, amounting to $201,054,622 in currency and $3,058,000 in gold, are not accepted as a part of the national debt. The external debts of the provinces payable in gold amount to $166,841,117, and those of municipalities to $25,403,558. On some of these the interest charges have been scaled down by agreement, and on others the interest has not been paid, and no arrangement has been made to pay any portion of the debt. The internal debts of the provinces and municipalities amount to $5,916,960 in gold obligations and $155,361,349 in currency. The total public debt of the coun

try is $760,000,000, reducing the currency obligations to their gold value. If they are reckoned at their face value, the amount is $1,307,000,000. Commerce and Production. The live stock at the end of 1893 were roughly estimated at 75,000,000 sheep, 22,000,000 cattle, and 3,000,000 horses and mules. Agricultural production has made great progress in recent years. Indian corn has been for the last three seasons injured by locusts, so that whereas in ordinary years 700,000 or 800,000 tons were available for export, the export for 1893 was only a little over 35,000 tons. Of wheat, 950,000 tons were exported in that year. The province of Buenos Ayres is stocked with beef cattle and sheep of the best European breeds, and owing to the superior grazing quality of the land they will continue to be the chief source of wealth, though agriculture is extending, and was stimulated greatly by the financial crisis of 1890-'91, which drove manual labor from the towns into the fields, where good wages were obtained. During this period the farmers were very prosperous, selling their bumper crops at good prices. In 1894 they were in a different condition, for, while wages had risen, prices were much lower, and a long drought had left them with short crops. The drought affected the flocks and herds throughout the republic, and reduced the profits of the industrious Italian, German, and French colonists of Santa Fé and Cordoba, who by rude methods have in favorable years raised a vast quantity of inferior wheat, besides cultivating corn, linseed, and lucerne. In Santa Fé 311 agricultural colonies cultivate 2,117,476 acres, of which over 1,600,000 are under wheat. This province possesses, like Buenos Ayres, large herds of Durham and Hereford cattle. The province where agriculture chiefly continued to flourish is Tucuman, which grows sugar and tobacco, but the sugar-planting industry is protected by a high tariff. In Mendoza and San Juan, where cattle are bred or fattened for the Chilian market, French and Italian settlers have planted vineyards with good hope of success. In these provinces the area of cultivable land could be quadrupled by systematic irrigation. They possess deposits of gold, silver, copper, and petroleum, but attempts to exploit them have resulted in losses. In Patagonia, where small colonies of Scotch and Welsh immigrants have taken up land for grazing, valuable gold quartz reefs and alluvial deposits are said to exist. The area under cultivation in all the provinces and national territories was 7,400,000 acres in 1891-only 1 per cent. of their total area.

The wheat crop of 1894 was a large one, nearly double that of the preceding year, and in spite of the low prices the farmers were not disheartened, but made preparations for an increased output in the following year. Should the next harvest prove favorable it was estimated that there would be 2.500,000 tons available for export, as a largely increased area has been broken up in Buenos Ayres, Santa Fé, and Entre Rios along the railroad lines. The railroads have not generally availed themselves of the privilege of raising their freight rates in proportion to the rise in the price of gold. The increased production is mainly the work of Italian immigrants, who are content with a little beyond the barest neces

sities of life, and as they grow their own food can devote the proceeds of their crop to paying the installments due on the land. In many cases they rent the land, paying the landlord 12 per cent. of the gross proceeds. The value of the agricultural products in 1893 was $117,000,000, while that of the pastoral products was $105,000,000.

The gold value of the merchandise imports in 1892 was $91,388,000, and of the exports $112,693.000. The import of specie was $6,510,798, and the export $1,974,477. The principal imports are textiles and apparel, iron manufactures, drinks, chemicals, timber, and fuel. English coal and coke are imported for the railroads and mills, as the coal deposits of the country can not be mined with profit. American petroleum, too, has recently come into extensive use for fuel. The duty on crude petroleum was removed by the Argentine Congress in the expectation of the removal by the United States Government of the import duty on wool. The quantities exported of the principal commercial products were, in 1892: Wool, 154,600 tons; sheep skins, 32,100 tons; wheat, 495,000 tons; maize, 446,000 tons; meat, 77,700 tons. The value of the imports from the principal countries were, in 1892: Great Britain, $35,800,000; Germany, $10,600,000; France, $10,400,000; Italy, $8,400,000; United States, $7,400,000; Belgium, $6,400,000. The exports to the chief countries were valued: France, $26,400,000; Great Britain, $19,700,000; Germany, $16,600,000; Belgium, $14,700,000 ; Brazil, $10,500,000; United States, $4,800,000; Italy, $4,300,000. In 1893 the total value of the imports was $100,793,419, and of exports $93,519,419.

of the past year had cost the country $6,000,000. The Government had remitted $4,000,000 in gold to Europe toward the payment of the service of the foreign debt for the year, and held a cash reserve in the national bank of $26,000,000 in currency. The Government arranged to pay $2,000,000 in gold to the European holders of guaranteed railroad bonds on account of the balance of $8,700,000 that was due. A commercial crisis that occurred just before the assembling of Congress gave strength to the enemies of the Government. The Radicals asserted that the ministry were dominated by ex-President Pellegrini. The fall in the prices of wheat, wool, hides, and live stock put a sudden stop to the export trade; and as importation had been excessive there was a great demand for gold to pay European balances, which speculators took advantage of to force up the premium, which reached 320 in the latter part of May. The Government, suspecting that the private banks were taking part in this speculation and also that they were evading taxes, ordered an inspection of the books of financial corporations, which the companies resisted. A scheme for unifying the external debts of the provinces was proposed, according to which the National Government is to assume all the debts and replace them by a national stock on which at first 2 per cent. interest would be paid, to be increased in proportion to the improvement of the public receipt until it reaches 3 per cent.

ARIZONA, a Territory of the United States, organized Feb. 14, 1863; area, 113,020 square miles. The population, according to each decennial census, was 9,658 in 1870; 40,440 in 1880; and 59,620 in 1890. Capital, Phenix.

Government. The following were the Territorial officers during the year: Governor, Lewis C. Hughes, Democrat; Secretary, Charles M. Bruce; Treasurer, James A. Fleming, who resigned on June 7 and was succeeded by P. J. Cole; Auditor, Howard C. Boone, who resigned in September and was succeeded by C. P. Leitch; Attorney-General, Francis J. Heney; Superintendent of Public Instruction, F. J. Netherton; Chief Justice of the Supreme Court, Albert C. Baker; Associate Justices, Owen T. Rouse, John J. Hawkins, and Richard E. Sloan, succeeded in June by Joseph D. Bethune.

Communications.-The railroads in 1893 had a total length of 8,023 miles. Their capital was $389,152,800. The receipts for 1892 were $57,299,900, and expenses $33,970,700. In 1892 the Government paid to guaranteed railroads $3,259,700, while the companies owed the Government $17,598,700 under the terms of their concessions. Above $300,000,000 of European capital has been invested in the Argentine railroads. The provincial governments guarantee the bonds of railroads that are not guaranteed by the Federal Government, but with gold at 300, and in 1894 at 400, they are unable to pay the interest, and in most cases have made a composition with their creditors. In Santa Fé the land tax is per cent., and there are heavy license and stamp taxes, yet the interest on the foreign debt is greater than the total revenue. Concessions for 3,170 miles of new railroads had been granted, but not much building was going on in 1893. In the case of some of the railroads the Government has paid Apache. out in guaranteed interest more than the actual capital invested; in one case a commission recommended that the charter be canceled.

Valuations.-The total assessed valuation of property in the Territory for 1894, compared with the figures for 1893, is shown in the following table:

Cochise Coconino

Gila Grabam.

Mohave..

COUNTIES.

The telegraphs had a length in 1892 of 20,415 Maricopa... miles of line, of which 11,250 belonged to the National Government, 8,050 to railroad companies, and 1.115 miles to cable companies.

The post office in 1891 carried 71,633,000 letters and 64,000,000 other pieces.

Public Affairs.-In the congressional elections that took place March 25, 1894, the Opposition made considerable gains. Congress was opened on May 12. The President in his message said that the revolutionary disturbances

Pima Pinal. Yavapai Yuma

Total.

[blocks in formation]

Finances. During 1893 the expenses of the Territorial Government, which amounted to $269,388.38, were exceeded by the receipts. This favorable change in the finances has been the

result of vigorous retrenchment in all branches of the Government. The floating debt of the Territory is now $170,523.60. In addition, there is a bonded debt of $2,036,000, of which, however, $1,331,000 represents the local indebtedness of counties and cities, and only $705,000 is strictly a Territorial debt.

Education. The following public-school statistics cover the school years ending in 1893 and 1894:

[blocks in formation]

1894.

11,252

218

tending its provisions from 1890 to 1896, and legalizing the Territorial floating indebtedness; a provision enabling the United States AttorneyGeneral to adjust and pay for the maintenance of Indian prisoners in the Territorial prison; a resolution for aiding in the settlement of the claims of certain counties for the cost of the trial of Indians in the Territorial courts, and a provision for the examination of Colorado river, with a view to its survey and improvement to the highest point of possible navigation.

Territorial University.-In May of this year a thorough reorganization and reform of 16,202 this institution was effected by the board of re288 gents, whereby the expenses were reduced about $12,000. The 3 departments were consolidated under the control of Prof. Comstock, who was made president and who is responsible only to the board of regents. At his own request, his salary was reduced from $3,500 to $3,000. Three other professors were relieved, and the chancellor will hereafter serve without compensation. The salary of the secretary was reduced to $180.

6.2 $74 06 $205,810 89 $176,040 02

$329,419 49 $405,446 32

During the past two years various districts of the Territory have expended over $100,000 in the erection of schoolhouses. The greater part of this was spent in the small towns and country districts. In July, 1893, the Territorial board of education adopted a new list of text-books for the use of the schools. It also made contracts with publishing companies, under which the books are sold to the patrons of the schools at an average of 33 per cent. less than they had formerly paid.

Militia. The aggregate strength of the National Guard of Arizona at the end of the fiscal year 1893 was 410. Another company has been organized with 50 members and 3 commissioned officers, making a total of 463. The possible strength allowed under Territorial law is 893.

Mining. The closing of the silver mines, caused by the low price of silver, has resulted in a marked increase in gold production, and the prospects are that Arizona will soon become a larger gold producer than any other Territory or State. The gold output during the year was valued at $2,080,250, and the silver product at $1,700,800. In addition, 48,270,500 pounds of copper were mined.

Land Titles.-Considerable progress was made during the year by the court of private land claims in the hearing and disposing of cases before it. There are 21 of these claims located in Arizona, the title in each case being claimed under grant from the Spanish Crown or the Mexican Government. Of these, the Algodones was determined in favor of the claimant, and is now before the United States Supreme Court on appeal by the Government; the San Rafael del Valli, Los Nogales de Elias, San José de Sonoita, and San Ygnacio del Babocomori were decided in favor of the Government, and an appeal was taken by the claimants to the Supreme Court. Sessions of the land court were held in Tucson, December, 1893, and March, 1894, when the cases decided were heard and determined. An area of more than 6,000,000 acres is covered by these claims.

Congressional Action.-The following measures of importance to the Territory were enacted by Congress this year: An act ceding to the Territory a tract of over 2,000 acres of land adjoining the Territorial prison, for a prison farm; an amendment to the Arizona funding act, ex

Suit against an ex-Treasurer.-Suit was brought this year in the name of the Territory against ex-Treasurer William Christy, who retired from office in May, 1893, in which it was claimed that he had refused to pay over to his successor the sum of $16,716.83 with which he stood charged as Territorial Treasurer. The defendant claimed that this sum had been used in the purchase of county bonds. The case was tried in June, and resulted in a verdict for the plaintiff by direction of the judge.

Statehood.-No appreciable progress was made this year in the matter of statehood. In August a bill for the admission of the Territory was favorably reported to the United States Senate by the committee having it in charge, but no decisive action was taken upon it by Congress before adjournment.

Political.-A Delegate to Congress and members of the Territorial Legislature were to be chosen at the November election this year. The first ticket in the field was nominated by the Populists, in convention at Phenix, early in September. Their nominee for Delegate was William O. O'Neill, and for Councilman at Large, George W. Woy. The Republican Territorial Convention nominated ex-Gov. Nathan O. Murphy for Delegate and A. J. Doran for Councilman. Its platform contained the following declarations:

We are opposed to the return of the renegade Geronimo to our Territory, as is now threatened.

We believe in the free and unlimited coinage of silver in a ratio of 16 to 1, and demand that our Government take immediate steps to this end without regard to what other nations may do.

naturalization and immigration, to the end that our We demand national legislation in the question of country may be protected from socialists, anarchists, and the pauper and criminal classes of all countries.

We favor Government appropriation of moneys for the reclamation of the arid lands of the West.

We favor the admission of Arizona as a State, and deprecate any attempt to make this a party issue as being inimical to the interests of the Territory.

The nominees of the Democratic Territorial Convention were John C. Herndon for Delegate and Joseph Campbell for Councilman.

At the November election the Republicans

were successful for the first time in many years. The vote for Governor, as unofficially announced, was: Murphy, 5,273; Herndon, 4,210; O'Neill, 2,402. For Councilman: Doran, 5,318; Campbell, 4,796; Woy, 1,512.

cans, 6.

The Territorial Legislature of 1895 will stand as follows: Council-Democrats, 6; Republic House-Democrats, 8; Republicans, 16. ARKANSAS, a Southern State, admitted to the Union June 15, 1836; area, 53,850 square miles. The population, according to each decennial census since admission, was 97,574 in 1840; 209,897 in 1850; 435,450 in 1860; 484,471 in 1870: 802,525 in 1880; and 1,128,179 in 1890. Capital, Little Rock.

Government.-The following were the State officers during the year: Governor, William M. Fishback, Democrat; Secretary of State, H. B. Armistead; Auditor and Insurance Commissioner, C. B. Mills; Treasurer, Richard B. Morrow; Attorney-General, James A. Clarke; Land Commissioner, C. B. Myers; Superintendent of Public Instruction, Josiah H. Shinn; Commissioner of Mines, Manufactures, and Agriculture, George M. Chapline; Chancellor, D. W. Carroll; Chief Justice of the Supreme Court, H. G. Bunn; Associate Justices, Burrill B. Battle, Simon P. Hughes, Richard H. Powell, and W. W. Mansfield, who resigned on May 9, and was succeeded by James E. Riddick, appointed by the Governor May 9; Clerk of the Supreme Court, W. P. Carroll.

Finances.—The treasury receipts for the past two years were as follow: For general revenuefrom taxes, $711,869.76; liquor licenses, $187,264.68; insurance licenses and taxes, $30,401.75; sales of lands and books and officers' fees and commissions, $43,190.78; expenses of inmates in the State charitable institutions, $8,701.59. Sinking fund-from taxes, $173.053.04; sales of books, $724.25; sales of real-estate bank lands, $4,158.36; Woodruff judgment, $34,840. Receipts for common-school fund - from taxes, $670,090.56. Receipts for pension fund-from taxes, $82,778.43. The total amount collected for these funds is $1,947,083.21, and the amount disbursed during the two years out of the general revenue fund is $912,334.29. The cost of State government from Oct. 1, 1892, to Oct. 1, 1894, was $916,369.76.

The bonded debt in detail, Oct. 1, 1894, was as follows: State bank bonds, 5-per-cent., $3,000, interest $8,662.50; State bank bonds, 6-per-cent., $109,000, interest $340,080.09; real-estate bank bonds, 6-per- cent., A," $530,000, interest $1,525,200 real-estate bank bonds, 6-per-cent., "C." $43,000, interest $136,740; funded bonds, 1869 issue, 6-per-cent., $238,000, interest $299,100; funded bonds, 1870 issue, 6-per-cent., $371,000, interest $447,640; Loughborough bonds, 1875, 6-per-cent., $506,000, interest $199,170; ten-year 10-per-cent. bond, $100. Total bonded indebtedness, $4,812,732.50. State scrip is valued at par.

Railroad Assessment.-The railroad assessment for 1894 is $19,932,353. The total mileage of the various roads is 2,343.9 miles, an increase of 32.02 miles over 1893, and an increase in valuation of $626,886. The Iron Mountain heads the list as a corporate taxpayer, and is assessed at $8,966,209, an increase of $386,061 over 1893.

Liquor Tax.-The annual report for the fiscal year ending June 30, 1894, shows: Number of gallons remaining in bond in district warehouses, 94,583; number of gallons produced during the year, 82,734; total tax on spirits withdrawn from warehouse, $74,023.20. The same items in 1893 were as follow: Gallons in bond, 92,102; gallons produced, 92,095; tax paid, $67,913.10. The increase in tax received this year is $6,110.10.

The Woodruff Defalcation.-The case of the State of Arkansas against William E. Woodruff, defaulting State Treasurer, and his bondsmen, was decided Feb. 8, 1894, by the Pulaski County Chancery Court. The chancellor confirmed the master's report except as to the second bond, which he declared invalid on account of the erasure of the name of one of the sureties, J. H. Anderson, of Howard County. The liability on this bond was $1,809.25, and judgment against Woodruff personally was rendered for the amount. The total amount of the judgment was as follows: Fourth bonds, $1,880.17; fifth bonds, $40,177.47, less $8.72 due the Treasurer on his first term, and $1,500 to $2,000 on account of scrip on hand. The costs and interest will make a total of nearly $50,000 in favor of the State.

Levee Act. The courts have sustained the constitutionality of the act of the Legislature of 1893, authorizing the construction of a levee on Mississippi river from the Missouri line to the mouth of St. Francis river, and on April 6 it was decided that the taxes assessed on the lands in the levee district must be paid.

Congressional Appropriations. From the river-and-harbor appropriation Arkansas received $640,000, a little more than was received last year. For the improvement of the customhouse at Little Rock $58,000 was appropriated, and an expenditure of $194,000 for the establishment of a military post at Little Rock was authorized. Of this amount $60,000 was voted by the Fifty-second Congress.

State Pensions.-The amount of pensions this year is $35,116. On account of a deficiency in the funds on hand, a reduction of 15 per cent. has been necessary. The State Board of Pensions granted 195 applications for pensions, and rejected a like number.

Census Statistics.-The second volume of the compendium of the eleventh census was issued this year. It gives the following statistics for Arkansas:

[blocks in formation]

fund is $8,671,782.

The total number of pupils enrolled was 239,675, of which 178,026 were white (93,336 male) and 61,649 colored (31,446 male, 30,208 female).

The number of prisoners in Arkansas was 1,410, of which 777 were colored and 78 were Indians. There were 223 paupers, 49 of whom were negroes.

The total value of the mineral products of Arkansas was 8567,683. The value of the product of the zine mines was $3,250, and of the lead mines $400. There is $1,215,000 invested in the mining of man

« EdellinenJatka »