696 



TREATY. 



Rtttmrtt*. 



Gold clearinjr-honge certificate* 4 



r coin, dollars 



r coin, fractional 



Silver treasury certificate* 



Legal-tender note* 



U. 8. certificate* of deposit for legal-tender 



note* 



Five-per-cent. redemption fund with U. 8. 



Treasurer 



Due from U. S. Treasurer other than re- 

 demption fund $ 



10,884,000.00 



7,094,854.00 

 61,995,643.00 



12,315,000.00 

 7,765,837.16 



Aggregate., 



,.$2,731,448,016.16 



LiabiltHa. 



Capital stock paid in $ 5*8,384,018.25 



Surplus fund 1,13,1"' 



Other undivided profits 7i>..:' 



National bank note* outstanding i:,:,,;\i:',.:;:,::..',ii 



Slate bank note* outstanding sJ, 372.60 



l>i videmls unpaid 7,3M.-!>l.4i' 



Individual deposit* 1,292,342,471.2s 



U. S. deposits 64,7 



Deposit* of U. S. disbursing officers 3,H" 



Due to other national bunks 24s.-j|s. llo.o.-, 



Due lx> Slate banks and bankers 109.87 1,372.41 



Note* and bills re-discounted i:i.o :>.;,i i'...-,r> 



Bills payable 4,955,068.27 



Aggregate $2,731,448,016.16 



The ('<i<'iif/>\ The eoinape executed at the mints 

 of the United States during the fiscal year 1888 was : 



Value. 



$16.301,740.00 

 .-'60.00 



34,098.00 

 16,682.60 



18,880.00 



28,364,170.50 

 $32.718,673.00 



194,668.2) 



1,2 1H,917.50 



34,136,095.25 



$ 760,35*.' :. 

 1,367.19 



4.".7,. 



1,218,976.57 

 Total coinage $109,030,547 $63,719,242.32 



Import! and ISxpnrtt. The value of the mcrchan- 

 disc imported into the I'nitril States during tlio fiscal 

 year 1888 was $723,879,813 as against $692,819,708 

 during the previous fiscal year. The value of the 

 exports of the products of agriculture, Bi 

 mining, forestry, and the fisheries i.s thus shown : 



Denomination. 1'i 



Gold: 



Pouble eagles 815,087 



Eagles 899,826 



II : gta 609,101 



Three dollars 11,366 



Quarter-eagle* 6,273 



Dollar* ll>,880 



2,350,534 

 Silrtr : 



Standard dollars 32,718,073 



Half-dollars 



Quarter-dollars 778,673 



Dimes 12,199,175 



45,702,194 

 Minor Coin : 



Five cent* 15,207,173 



Three cents 45,573 



One cent 4.x: 



80,977,811 



Product* of Value. 



Aerieiiltnre 1000,785,814 



Uaantettm no,3i2,408 



Mining 18,0<i7,n.-,l 



1 ..r,- try 23,991,092 



PiaherM*.. [>.: 



Uiscelianeous 5, 1'','..", 'I 



IVr cent. 

 19.06 



3.50 



1.00 



.75 



Total Je3,R62,236 



IOOOO 



The value of the exports of agricultural product 1. 11 

 off from 1623,077,223 in issT. to *:><K>.7s'..:!l-l in i*s. 

 while the cx|>rts of all oilier commodities in 

 from $179.946,700 tc $183,076.922, 



T/ir I'ulJic Jtflit. The following table shows the 

 lotal aliiiiiiut of the national debt on .linn- :;i>. 



( b a racier of debt. Amount. 



II..H.N at 4} per <*"t $22'A'.'07,050.00 



Boudsat 4 jw ceut 714,177,400.00 



of ,l.'t>t. Ammint. 



Refundinir ivrtilirates at 4 percent $ 1 :- 



Navy |H'iisi,)ii fund at :i |x-r wnt 14 



Intt-n-M nn-nie.1 on the alM>ve 9,671,459.96 



1 '.-lit on which interest has ceased -. . 



Inti-rfit on matured <leht 



Ilonil* iwued lo Pacific liailroads C4 



Iiili-rcst ni-i-riifil thereon 1 



Demand and 1". S. notes 34 ', 



Certificates of deposit 14,415,000.00 



Gold certificates 119,,-X7,37o.no 



Silver renificatcs 200.:*7.Xi:.nii 



Fractional currency < 



Total $1,717,784,793.72 



The net debt, after deducting the each in the treasury, wa 

 $1,165,584,656.64, as coni|red with $1,279,428,737.02 at the 

 close of the previous fiscal year. 



The State of the Trrnsuri/. The following i. a 

 statement of (ho condition of the public treasury on 

 June 30, 1888 : 



Ijiihiliiiex. Amount. 



Gold certificates out* I in.: $119,887.370.00 



Silver eeriitieales oiiisiainlinir "' 



Currency ei-nit'iealr- oiusiandini; 14,412,000.00 



Reserve for redi-iupti'iii of I". S. n.Mes 100,000,000.00 



Funds for retirement of hank circulation 9 



Funds for redcmplion of national bank notes.. 



DMiiirxinKofficers' balances 2 



Tran-'Ier i-heeks and drafts 



Post-ofliei- de|iarinn-nt account 



Matured debt anil interest 1 l.> 



Micellaneon.s items 4.>i<n 



Kalanee 12'.i,:!>4.-. 1 41. IS 



Total $714,033,484.77 



Assets. Amount. 



Gold coin $-'< 



Hold bullion llii.ll'; 



Standard silver dollars 24-(,>r!',4>7.<> 



Silver bullion 4,I4J,7:>1 .'.( 



Trade-dollar bullion <i,!7; 



I'niti-d .Slates notes ' 



I>e|H,sits ill national banks 



National bank Holes for redemption 6,770.:Mi.ns 



Kraeiic.nal and minor coin 26,16.'<.77i,.77 



Miscellaneous items 



Total 



$714,033,484.17 



(w. r. M.) 



TREATY. 



See Vol. XXIII. 



1 -p. 564 

 Am. Kep.). 



While the government of the United 



Stales adheres to the general doctrine* 

 as to the nature and effect of I; 

 prevailing among the states of Ku- 

 rope. it has introduced changes in the 

 method of forming such treaties that were demanded 

 by the nature of its political Jnstilutions. The inter- 

 national intercourse of the European states has been 

 largely a fleeted by the consideration that dynastic in- 

 wcre intimately interwoven with national inier 

 . giving to that intercourse a personal as well as na- 

 tional character. Having in our system eliminated 

 this personal clement it was possible that treaties 

 should be made under the supervision of sonic repre- 

 sentative liody sustaining close relations to tin- people 

 of the United States, and yet of such stability a> to 

 insure a high degree of uniformity and persistence in 

 the policy of our diplomatic relations with oilier pow- 

 ers. The selection of the Semite to revise the cxi-cn- 

 li\i- action in the making of treaties, leaving tin- power 

 of negotiation in the hands of the President, secured 

 at once ihe advantages to IK- derived from executive 

 unify with tlio-o resulting from a divided respon- 

 sibility in which the representatives of 'the people par- 

 ticipate. 



AS thfl Senate in tin- pet forninnce of this function 

 an executive body i.nd not in JIN character as 

 br.inch of the legislative body, the treaty-making 

 power as it exists with us is to be regarded as strictly 



