780 



UNITED STATES. 



operation the past year, turning out a monthly 

 product of over $100,000. 



The commerce for the year is estimated as 

 follows: Fur-trade, $2,500,000; gold (bullion 

 and dust), $1,350,000; tisheries, $3,000,000; 

 lumber and ivory, $100,000; total, $6,950,000. 



There are now io operation in the Territory 

 15 Government day-schools, the cost of main- 

 taining which must be paid from the appropri- 

 ation of $25,000 made at the last session of 

 Congress. The salaries of teachers aggregate 

 $15,000 ; $5,000 is being expended in the 

 erection of new school buildings at Sitka and 

 Juneau and in the repair of an old Govern- 

 ment building for the school at Wrangell. 



Until this year there has been practically no 

 local supervision of these schools, their man- 

 agement being in the hands of a Commissioner 

 of Education residing at Washington. On 

 June last, the Secretary of the Interior ap- 

 pointed a board of local management, consist- 

 ing of the Governor, the judge of the district 

 court, and the general agent. 



The Centennial Anniversary of the Constitution. 

 The celebration of this event at Philadelphia, 

 on September 15, 16, and 17, was attended with 

 brilliant and imposing ceremonies. The exer- 

 cises of each day were arranged and conducted 

 by the Constitutional Centennial Commission, 

 composed of members from each of the States 

 and Territories appointed for this purpose 

 early in the year by the respective Governors. 

 There were present the President and other 

 members of the Federal Government, the Gov- 

 ernor and other officers of all the States and 

 Territories, foreign ministers, and official dig- 

 nitaries. On the first day the principal feature 

 of the celebration was a grand industrial pa- 

 rade, designed to show the progress of the arts 

 and sciences during the century just com- 

 pleted. This was participated in by over 

 12,000 persons. The evening was devoted to 

 public receptions by Gov. Beaver and other 

 people of note. On the second day, members 

 of the Federal and State military organizations 

 to the number of over 30,000 joined in a pa- 

 rade, passing in review before President Cleve- 

 land. In the evening the public reception 

 given by the President at the Academy of Mu- 

 sic was attended by thousands, including some 

 of the most distinguished people of the land. 

 On the third day occurred the literary exercises 

 commemorative of the framing of the Constitu- 

 tion. This was the actual memorial day, being 

 the same month and day on which the mem- 

 bers of the convention of 1787 completed and 

 signed their work and sent it forth to the thir- 

 teen colonies for ratification. The exercises 

 took place in Independence Square, before a 

 vast concourse. Ex-Minister John A. Kasson, 

 President of the Centennial Commission, de- 

 livered the opening address, at the close of 

 which he introduced the President of the 

 United States. The concluding words of the 

 President's address, given below, reflect the 

 spirit of the occasion : 



UNITED STATES, FINANCES OF THE. 



As we look down the past century to the origin of 

 our Constitution, as we contemplate its trials and tri- 

 umphs, as we realize how completely the principles 

 upon which it is based have met every national peril 

 and every national need, how devoutly should we 

 confess with Franklin, " God governs in the affairs of 

 men " ; and how solemn should be the reflection that 

 to our hands is committed this ark of the people's 

 covenant, and that ours is the duty to shield it from 

 impious hands. We receive it sealed with the tests 

 of a century. It has been found sufficient in the past ; 

 and in all the future years it will be found sufficient, 

 it' the American people are true to their sacred trust. 

 Another Centennial day will come, and millions yet 

 unborn will inquire concerning our stewardship and 

 the safety of their Constitution. God grant that they 

 may find it unimpaired ; and as we rejoice in the pa- 

 triotism and devotion of those who lived a hundred 

 years ago, so may others who follow us rejoice in 

 our fidelity and in our jealous love tor constitutional 

 liberty. 



The memorial oration that followed was de- 

 livered by Hon. Samuel F. Miller, Justice of 

 the Supreme Court of the United States. The 

 recital of a new national hymn, written for the 

 occasion by Francis Marion Crawford, com- 

 pleted the exercises of the day and closed the 

 celebration. 



UNITED STATES, FINANCES OF THE. In review- 

 ing the financial operations of the Government 

 for the year 1887, the chief features that at- 

 tract attention are : The increasing sums de- 

 rived from all sources of revenue, the large de- 

 crease in national-bank circulation, the con- 

 tinued coinage of silver, and the heavy decrease 

 of the public debt, which includes the redemp- 

 tion of the remainder of the 3-per-cent. bonds 

 issued in 1882 in exchange for 3^-per-cent. 

 bonds. The evil consequences from the with- 

 drawal of money from the channels of business 

 by the large accumulations in the national 

 Treasury, which at one time threatened to be 

 serious, both in themselves and as furnishing a 

 theme for political contention, were happily 

 averted by the judicious measures adopted by 

 the Secretary of the Treasury. The following 

 statements exhibit in detail the transactions of 

 the Treasury during the year : 



Receipts and Expenditures. The ordinary rev- 

 enues of the Government, from all sources, for 

 the fiscal year ending June 30, 1887, were: 

 Customs, $217,286.893.13; internal revenue, 

 $118,823,391.22 ; sales of public lands, $9,254,- 

 286.42; profits on coinage, $8,929,252.83; tax 

 on national banks, $2,385,851.18; consular, 

 land, and patent fees, $3,301,647.16; customs 

 fees, fines, etc., $1,053,037.86 ; sales of Indian 

 lands, $1,479,028.81 ; Soldiers' Home fund, $1, 

 226,259.47; Pacific Railroad sinking fund, $1,- 

 364,435.87: Pacific Railroad interest, $914,- 

 793.13; sales of old buildings, $624.882.20; 

 sales of other Government property, $262,832.- 

 32 ; immigrant fund, $258,402.50 ; tax on seal- 

 skins, $317.452.75 ; deposits for surveying pub- 

 lic lands, $94,289.76; revenues of District of 

 Columbia, $2,367,869.01; miscellaneous, $1.- 

 458,672.04; total $371,403,277.66. The ordinary 

 expenditures for same period were : Civil list, 

 $22,072,43627; foreign intercourse, $7,104,- 



