Benson John Lossing.

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fallen to $74,000,000. Many business
failures occurred during the summeV.
The iron tra de was depressed, various
cotton and woollen mills closed in New



England and the Middle States, and
stocks suffered. Within the first eight
months of the year, 560 State and private
banks and 155 national banks (mostly
of small dimensions) failed. The great
majority of these bank failures were in
the region west of the Mississippi River.
This section, especially the States inti
mately connected with the mining and
smelting of silver, felt the " hard times "
keenly. The general closing of silver-
mines in Colorado was attended with
much suffering, and considerable bitter
ness was displayed. At least 15,000
miners became idle, and many men out of
work came eastward, in some cases taking
forcible possession of freight-trains.

Meanwhile in the East in midsummer
an extraordinary stringency of money
was developed. At one time in New York
the premium on $1,000 in small bills
reached $25 ; many business establish
ments were hard pressed to meet the pay
ments of their employees; checks and clear
ing-house certificates played for a short
time a remarkable part. The premium on
currency disappeared, however, in Septem
ber, although money continued to be
scarce. One of the features of the com
mercial trouble of 1893 was the number
of large railroad systems forced into the
hands of receivers. In this number were
included the Erie; Reading; Northern
Pacific; Atchison, Topeka, and Santa Fe;
and New York and New England.

As the forced purchase of silver was
generally recognized as one cause of the
disturbances, attention was called to the
repeal of the silver purchase act of 1890,
and President Cleveland summoned a spe
cial session of the Fifty-third Congress to
consider the matter. Congress assembled
Aug. 7 ; on Aug. 28 the House passed the
Wilson bill, which went to the Senate; in
the form of the Voorhees repeal bill the
measure passed the Senate by a vote of
43 to 32, Oct. 30 ; nearly all the " repeal
ers " were from the East and North. On
Nov. 1 it passed the House by a vote of
193 to 94, and was promptly signed by
the President. After passing this act,
which repealed the purchasing clause of
what was known as the Sherman bill of
1890, Congress adjourned.

The actual condition of the national
treasury on Jan. 12, 1894, was thus set



360



FINANCES, UNITED STATES



forth in a letter of Secretary Carlisle:
Assets Gold, $74,108,149; silver dollars
and bullion, $8,092,287; fractional silver
coin, $12,133,903; United States notes,
$5,031,327; treasury notes of 1890, $2,-
476,000; national bank notes, $14,026,735;
minor coin, $988,625; deposits in banks,
$15,470,863; total cash assets, $132,327,-
889. Liabilities Bank-note 5 per cent,
fund, $7,198,219; outstanding checks and
drafts, $5,653,917; disbursing officers
balances, $28,176,149; post-office depart
ment account, $3,897,741; undistributed
assets of failed national banks, $1,927,727;
District of Columbia account, $142,613;
total agency account, $46,996,366; gold
reserve, $74,108,149; net balance, $11,-
223,374. Total liabilities, $132,327,889.
The average monthly deficiency in the
last half of 1893 was shown to be about
$7,000,000. The estimated falling-off in
revenue with other causes swelled the ex
pected deficiency to a formidable amount.
To meet the rapid fall in the gold reserve,
Secretary Carlisle, on Jan. 17, 1894, is
sued a circular, offering for public sub
scription an issue of $50,000,000 of bonds,
" redeemable in coin at the pleasure of
the government after ten years .
and bearing interest ... at the rate
of 5 per cent." The minimum premium



at first planned to sell the entire issue to
the Belmont-Morgan syndicate, but the
proposition caused such a popular outcry
that the public was allowed to bid for the
bonds, and the $100,000,000 was sub
scribed more than five times over. The
treasury received over $6,000,000 more
than if the sale had been made to the
syndicate. This successful sale seemed to
restore the confidence of the nation, and
the gold reserve in the treasury soon
passed the $100,000,000 limit.

In striking contrast with the special re
port of Secretary Carlisle in 1894 was the
annual report of Secretary Gage for the
fiscal year ending June 30, 1900. In com
paring these reports it should be borne in
mind that a period of remarkable pros
perity set in soon after the Presidential
election in 1896; that the war with Spain
placed on the national treasury an unex
pected burden; that the revenues of the
government were increased by a special
bill (1898) to meet the extraordinary dis
bursements; and that the foreign trade
of the country advanced to an unprece
dented volume. The main features of the
treasury report for June 30, 1900, were as
follows :

RECEIPTS AND EXPENDITURES.



was fixed at 117.223, thus making the is- ,

The revenues of the government from all

sue equivalent to a 3 per cent. bond. The sources for the fiscal year ended June 30,

Secretary issued the call by virtue of an 1900, were :

act of 1875; but his authority was chal- Internal revenue $295,327,926.76

longed by the House .judiciary eo m ,nittee ^^0,^ Wnion de-

Jan. 26, 1894. posits, etc 9,992,374.09

In spite of this issue of bonds the District of Columbia 4,008,722.27

treasury reserve soon fell below the mark Fees consular letters pat-

J . . .. ent and land 3,291,716.68

again, and on Jsov. 13 of the same year a Sa]es of publlc lands 2,836,882.98

second issue of $50,000,000 worth of bonds Tax on national banks. . . . 1,998,554.00

was made. They were all given to a syn- Navy pension, navy hospi-

dicate of bankers at a bid of 117.077. So J^ 10 *"* a " d dc " oslt ,, 621 , 558 . 52

rapid was the drain on the treasury, Sales of Indian lands 1,384,663.49

however, that on Feb. 8, 1895, the govern- Payment of interest by Pa-

ment signed a contract with the Belmont- clflc railways . 1,173,466.43

, r ,. -. -KT TT , , . j Miscellaneous . 997,375,68

Morgan syndicate of New York to provide gales of government prop .

for tho treasury 3,500,000 ounces of e rty 779,522.78

standard gold coin, amounting to $62,- Customs fees, fines, penalties,

315,000. Payment was made to the syn- T etc . ";;, 215 IX? !!?

m , V Immigrant fund 537,404.81

dicate in 4 per cent, bonds. The syndi- Dep0 sits for surveying public

cate was also pledged to help retain all the lands 273,247.19

gold in the treasury. The business de- Sales of ordnance material. 257,265.56

pression still continued, however, and on 8 ^ S [ 247,926.62

Jan. 6, 1890. tho government advertised Tax O n seal skins and rent

a sale of $100,000.000 in bonds. It was of seal islands 225,676.47

367



FINANCES FINE ARTS



RECEIPTS AND EXPENDITURES. Con
tinued.

License fees, Territory of

Alaska $157,234.94

Trust funds, Department

of State 152,794.56

Depredations on public

lands 76,307.58

Spanish indemnity 57,000.00

Sales of lands and build
ings 3,842,737.68

Part payment Central Pa
cific Railroad indebtedness. 3,338,016.49

Dividend received for ac
count of Kansas Pacific
Railway 821,897.70

Postal service 102,354,579.29

Total receipts $669,595,431.18

The expenditures for the same period
were :

Civil establishment, includ
ing foreign intercourse,
public buildings, collect
ing the revenues, District
of Columbia, and other
miscellaneous expenses . . . $98,542,411.37
Military establishment, in
cluding rivers and har
bors, forts, arsenals, sea-
coast defences, and ex
penses of the war with
Spain and in the Philip
pines 134,774,767.78

Naval establishment, includ
ing construction of new
vessels, machinery, arma
ment, equipment, improve
ment at navy-yards, and
expenses of the war with
Spain and in the Philip
pines 55,953,077.72

Indian service 10,175,106.76

Pensions 140,877,316.02

Interest on the public debt. . 40,160,333.27
Deficiency in postal revenues. 7,230,778.79
Postal service 102,354,579.29



Gold $107,937,110.00

Silver dollars 18,244,984.00

Subsidiary silver 12,876,849.15

Minor 2,243,017.21



Total $141,301,960.36

The revenues of the government for the
fiscal year ending June 30, 1901, were thus
estimated upon the basis of existing laws :

Customs $245,000,000.00

Internal revenue 300,000,000.00

Miscellaneous sources 35,000,000.00

Postal service 107,773,253.92



Total estimated revenues. $687,773,253.92

The expenditures for the same period were
estimated as follows :

Civil establishment $115,000,000.00

Military establishment .... 140,000,000.00

Naval establishment 60,000,000.00

Indian service 11,000,000.00

Pensions 142,000,000.00

Interest on the public debt.. 32,000,000.00

Postal service 107,773,253.92



Total estimated expendi

tures ................ $607,773,253.92



Or a surplus of ............ $80,000,000.00

Secretary Gage further estimated that,
upon the basis of existing laws, the revenues
of the government for the fiscal year ending
June 30, 1902, would be:
From customs ............ $225,000,000.00

From internal revenue ____ 310,000,000.00

From miscellaneous sources. 35,000,000.00
From postal service ...... 116,633,042.00



Total estimated revenues. $716,633,042.00

The estimates of appropriations required
for the same period, as submitted by the
several executive departments and offices,
were $690,374,804.24, showing an estimated
of $26,258,237.76.



Total expenditure ..... $590,068,371.00



Showing a surplus of ...... $79,527,060.18

Other receipts of the Treasury, including



For further details of national finances
see BANKS, NATIONAL ; CIRCULATION ;
COMMERCE; CURRENCY; DEBT, NATIONAL.

Pine Arts, THE. The earlier settlers
in our country were compelled to battle
with privations of every kind, and for



authorized in June, 1898, and other bonds, the wilderness and to procure food and

were $115,410. The total amount of securi- clothing. This condition did not admit

ties redeemed under the operations of the o f the cultivation of aesthetic tastes. Their

^X^^^ion^^ architecture was at first little superior in

bonds purchased to the amount of $19,300,- form to the log-hut, and painting and

650, and the premium in converted bonds sculpture were strangers to most of the

amounting in all to $30,773,552. Total re- inhabitants . Music, for use in public wor-

ceipts for the fiscal year exceeded those of .

the preceding year by $58,613,426, while Pni P on] y> was cultivated to the extent of

expenditures showed a decrease of $117,- the ability of the common singing-master,

358,388. anc l on iy occasionally poetry was at-

The coinage executed during the fiscal tempted. Engraving was wholly unknown

year was : before the middle of the eighteenth cen-

3G8



FINE ARTS, THE



tury. At about that time Horace Walpole
wrote, " As our disputes and politics have
travelled to America, it is probable that
poetry and painting, too, will revive
amidst those extensive tracts, as they in
crease in opulence and empire, and where
the stores of nature are so various, so
magnificent, and so new." That was writ
ten fourteen years before the Declaration
of Independence. Little could he compre
hend the value of freedom, such the Amer
icans were then about to struggle for, in
the development of every department of
the fine arts, of which Dean Berkeley had
a prophetic glimpse when he wrote:

" There shall be sung another Golden Age,

The rise of empires and of arts,
The good and great, inspiring epic rage,
The wisest heads and noblest hearts."

The first painter who found his way to
America professionally was John Watson,
a Scotchman, who was born in 1685. He
began the practice of his art at Perth Am-
boy, then the capital of New Jersey, in
1715, where he purchased land and built
houses. He died at an old age. JOHN
SMYBEKT (q. v.) came with Dean Berkeley
in 1728, and began portrait-painting in
Newport, R. I. Nathan Smybert, " an
amiable youth," began the practice of
painting, but died young in 1757. During
John Smybert s time there were Black
burn in Boston and Williams of Philadel
phia who painted portraits These were
all Englishmen. The first American
painter was BENJAMIN WEST (q. v.), who
spent a greater part of his life in Eng
land, where he attained to a high reputa
tion. JOHN SINGLETON COPLEY (q. v.}
was his contemporary, and painted por
traits as early as 1760. At the same
time Woollaston had established himself,
and painted the portraits of Mrs. Custis
(afterwards Mrs. Washington) and her
husband, about 1756. He was an Eng
lishman. At the period of the Revolu
tion, Charles Wilson Pcale, who had
learned the art from Hesselius, a portrait-
painter, was the only American, if we ex
cept young Trumbull, who might be called
a good artist, for Copley had gone to Eng
land. So it was that the fine art of paint
ing was introduced.

At that time there were no professional
architects in the country. Plans for
in. 2 A 30



churches, other than the ordinary build
ings, were procured from abroad. The
" meeting-house " of that day was only
the shell of a dwelling-house, with very
little decoration, and with a small bell-
tower rising a few feet above the roof.
The dwelling-houses were extremely plain,
generally. When a fine one was to be
built, plans, and even materials some
times, were procured from Europe. But
from the beginning of the nineteenth
century there have been many highly ac
complished American architects, who have
carried the people through the various
styles the Greek, Gothic, and Mansard
of architecture.

Sculpture waited long for a practitioner
in America, and very little of the sculp
tor s art was known in this country.
Now the increasing demand for statuary
promises a brilliant future for the sculp
tor. Among the earlier of American
sculptors were HORATIO GREENOTJGH (q.
v.) and HIRAM POWERS (q. v.). They may
be said to have introduced the art. Green-
ough was the first American who produced
a marble group, The Chanting Cherubs,
for J. Fenimore Cooper. For many years
there was a prudish feeling that made
nude figures an abomination. So sensi
tive were the ladies of Philadelphia con
cerning the antique figures displayed at
the exhibitions of the Academy of Fine
Arts, that one day in the week was set
apart for the visits of the gentler sex.
The multiplication of art schools, art
museums, and art exhibitions has quite
generally dissipated prudery. Crawford
gave to American sculpture a fame that
widened that of Greenough and Powers.

Music has had a habitation here, first
in the form of psalm-singing, from the
earliest settlements. Now its excellent
professors and practitioners are legion in
number. The graphic art in our country
is only a little more than a century old.
Nathaniel Kurd, of Boston, engraved on
copper portraits and caricatures as early
as 1762. Paul Revere, also, engraved at
the period of the Revolution. He en
graved the plates for the Continental
money. Amos Doolittle was one of the
earliest of our better engravers on copper.
DR. ALEXANDER ANDERSON (q. v.) was the
first man who engraved on wood in this
country an art now brought to the high-



FINE ABTS, THE

est perfection here. The earliest and best the said scholars shall or may learn the
engraver on steel was ASHEB B. DURAND art of painting; and further, my will and
(q. v.) , who became one of the first line- mind is that two grinders, the one for oil-
engravers in the world, but abandoned the colors and the other for water-colors, and
profession for the art of painting. The also oil and gum-waters, shall be fur-
art of lithography was introduced into nished, from time to time, at the cost
the United States in 1821, by Messrs, and charges of the said college." Mr.
15urnet and Doolittle, and steadily gained Palmer purchased a picturesque island
favor as a cheap method of producing in the Susquehanna, opposite Havre de
pictures. It is now extensively employed Grace, Md., which was originally called
in producing chromo-lithographic pict- Palmer s Island. There he expected the
uies. Photography, the child of the university and school of fine arts to be
daguerreotype, was first produced in Eng- established. The family of Edward
land by Mr. Talbot, and was introduced Palmer had been identified with War-
here chiefly by the labors in science of wickshire from the time of William the
Dr. J. W. Draper, of New York. Indeed, Conqueror. During the later years of his
the discovery of the process of making life Palmer resided in London, and his
pictures by employing sunlight as the collection of rarities and ancient Greek
artist was the result of the previous ex- and Roman coins was well known among
periments and writings concerning the literary men. This school of fine arts
chemical action of light by Dr. Draper, in America was projected years before
The American Academy of Fine Arts was Dean Berkeley projected his college in the
incorporated in 1808, arid the first public Bermudas (see BERKELEY, GEORGE) and
exhibition of works of art followed. At the brought JOHN SMYBERT (q. v.) with him
suggestion of PROF. SAMUEL F. B. MORSE to cultivate art therein,
(g. v.) younger painters associated, and In 1791 Archibald Robertson, a Scotch-
in 1826 organized the National Academy man and a portrait-painter, established a
of the Arts of Design in the United States, seminary in the city of New York which
In 1622 Edward Palmer, a native of he called the Columbian Academy of
Gloucestershire, England, obtained from Painting. He succeeded well, and his
the London Company a grant of land in pupils did honor to the institution. In
Virginia, and from the Plymouth Com- 1801 Robert R. Livingston, then Ameri-
pany a tract in New England. Mr. can minister in France, proposed the es-
Palmer died late in 1624. Just before his tablishment of an academy of fine arts in
death he made provision in his will for New York. He wrote to friends, suggest-
the establishment, conditionally, of a ing the raising of funds by subscription
" university " in Virginia, with which was for the purpose of purchasing copies of
to be connected a school of fine arts. His antique statuary and paintings for the
will, dated Nov. 22 (0. S.), 1624, pro- instruction of young artists. An associa-
vided for the descent of his lands in Vir- tion for the purpose was formed late in
ginia and New England to his sons and 1802, but it was not incorporated until
nephews, saying: "But if all issue fails, 1808. Meanwhile Mr. Livingston had ob-
then all said land is to remain for the tained fine plaster copies of ancient
founding and maintenance of a university statues and sent them over. In the board
and such schools in Virginia as shall of managers were distinguished citizens,
there be erected, and the university shall but there was only one artist Colonel
be called * Academia Virginiensis Oxon- Trumbull. It bore the corporate title of
iensis. " After providing for scholar- Academy of Fine Arts. It had a feeble
ships in the university for the male de- existence, though it numbered among its
scendants of his grandfather, Mr. Palm- honorary members King George IV. of
er s will provided " that the scholars of -England, and the Emperor Napoleon, who
the said university, for the avoiding of contributed liberally to its establishment,
idleness, shall have two painters, the one De Witt Clinton was its president in 1816.
for oil-colors and the other for water-col- when its first public exhibition was
ors, who shall be admitted fellows of the opened. In 1805 seventy gentlemen,
same college, to the end and intent that mostly lawyers, met in Independence Hall,

370



FINLEY FIKES



Philadelphia, for the purpose of consider
ing the subject of founding an academy of
fine arts in that city. They formed an
association for the purpose, and estab
lished the Philadelphia Academy of
Fine Arts, with George Clymer as presi
dent. Their first exhibition was held in
1806, when more than fifty casts of antique
statues in the Louvre were displayed, and
two paintings by Benjamin West. By pur
chases and gifts the collection of the acad
emy was unsurpassed in this country in
1845, when the building and most of its
contents were destroyed bv fire. The as-



came a Methodist minister in 1809; was
a missionary among the Wyandotte Ind
ians in 1821-27. His publications include
History of the Wyandotte Mission;
Sketches of Western Methodism; Personal
Reminiscences Illustrative of Indian Life,
etc. He died in Cincinnati, ()., Sept. 6, 185(5.
Fire-arms, a term originally applied to
cannon; afterwards to cannon requiring
two men to carry it ; and now to what are
known as rifles and small arms. The fol
lowing table gives details of the rifles
used by the principal nations of the world
in 1901:



RIFLES USED BY THE PRINCIPAL NATIONS.







Wei


Klit.


Calibre


No. of






Pounds.


Ounces.


Inch.


Rounds.


Austria


Maunlicher


9


14


315




Belgium








301




China


Lee


9


Q


433




Denmark


Krag-Jorgeiipen


9


g


315




England


Lee-iMetford


9




30 J




France


Lebel


9


4


315


g


Germany
Italy


Mannlicher .

Parravioino C;ircano


9

g



g


0.315
256


5
g


Japan




9


Q


315




Portugal


Kropatschek


10


4


315


g


Russia




g


10






Spain


Mauser. ...


g


13


276


5


Sweden and Norway




9


g


30


g


Switzerland


Schmidt


9


g


296


12


Turkey


Mauser


g


9


301


g


United States army


Krag-Jorgensen


9


g


30


5


navy


Lee






0.236


5



sociation now has a superb building on
Broad Street, which was first opened to
the public in April, 187(>. Unwise man
agement and a leged injustice to the
younger artists who were studying in the
New York Academy caused great dissat
isfaction, and in the autumn of 1825 they
held a meeting and organized a Society
for Improvement in Drawing. This move
ment was made at the instigation of
Samuel F. B. Morse, who was made presi
dent of the association. At a meeting
of the association in January, 1826, Mr.
Morse submitted a plan for the forma
tion of what was called a National Acad
emy of Design in the United States. The
proposition was adopted, and the new
academy was organized on -Tan. 15, with
Mr. Morse as president, and fourteen as
sociate officers. The academy then found
ed flourished from the beginning, and is
now one of the most cherished institu
tions of New York City.

Finley, JAMES BRADLEY, clergyman ;
born in North Carolina, July 1, 1781; be-



Fires, GREAT. The following is a list
of the most notable fires in the United
States :

Theatre at Richmond, Va. ; the
governor and many leading
citizens perished Dec. 26, 1811

New York City, 600 ware
houses, etc. : loss, $20,000,-
000 Dec. 16, 1835

Washington. D. ( ., destroying
general post-office and pat
ent-office, with 10,000 valu
able models, drawings, etc. .Dec. 15, 1836

Charleston. S. C., 1,158 build
ings, covering 145 acres. .. .April 27, 1838

New York City, 46 buildings;

loss, $10,000,000 Sept. 6, 1839

Pittsburg, Pa., 1,000 buildings ;

loss about $6.000,000 April 10, 1845

New York City. 1,300 dwell
ings destroyed June 28, 1845

New York City, 302 stores and
dwellings. 4 lives, and $6,-
000,000 of property July 19, 1845

Albany, N. Y.. 600 buildings,
besides steamboats. piers,
etc. ; 24 acres burned over ;
loss, $3,000,000 Sept. 9, 1848

St. Louis, Mo., 15 blocks of
houses and 23 steamboats ;
loss estimated at $3,000,000. May 17, 1849
371



FIRST REPUBLIC IN AMERICA FISH



San Francisco, Cal., nearly
2,500 buildings burned; loss




City, Aug. 3, 1808; graduated at Co-
lumbia College in 1827; admitted to the
"" bar in ISSO^nd was e,ected to Congress
ings; loss, $3,000,000 ....... June 22, 1851 in 1842. In 1848 he was chosen governor

Congressional Library, Wash

ington, D. C., 35,000 volumes. Dec. 24, 1851
Syracuse, N. Y., 12 acres of
ground burned over ; loss,
$1,000,000 ................. Nov. 8, 185G

New York Crystal Palace de

stroyed .................. Oct. 5,1858

Portland, Me., nearly destroy
ed ; 10,000 people homeless ;
loss, $15,000,000 ........... July 4, 18G6

Great Chicago fire, burning
over about 3% square miles,
destroying 17,450 buildings,
killing 200 persons ; loss over
$200,000,000 ............. Oct. 8-9, 1871

Great fire in Boston ; over 800
buildings burned ; loss, $80,-
000,000 .................. Nov. 9, 1872

Brooklyn (N. Y.) Theatre burn

ed ; 295 lives lost .......... Dec. 5, 187G

Jacksonville, Fla. ; 148 blocks



Online LibraryBenson John LossingHarper's encyclopdia of United States history from 458 A.D. to 1905 (Volume 3) → online text (page 58 of 76)