The Fifty-first Congress was Republican in both branches, with a Republican Executive. The Fifty-second Congress was composed of a House with a more than two-thirds Democratic majority and a Senate with a narrow Republican majority. The Executive was Republican. The Fifty-third Congress was Democratic in both branches, with a Democratic Executive. The Fifty-fourth Congress is composed of a Republican House, a Senate having a Democratic and Populist majority, and the Executive is a Democrat. No. 18. ARGENTINE REPUBLIC, In the Argentine Republic the standard is gold and silver; the monetary unit is the peso; the value in United States coin is $0.96.5; the coins are gold: Argentine ($4.82.4) and 1⁄2 Argentine; silver: peso and divisions. The ratio of gold to silver is 1 of gold to 15% of silver. [Monetary condition, April 6, 1895.] Silver is not current here and will not be accepted on deposit by foreign banks in sums exceeding 90 cents; it is, however, accepted by weight to be shipped to Europe for account of consignor. The Bank of the Nation and the provisional banks being in liquidation, the entire banking interest in the Republic is in the hands of foreigners, largely English. No. 19. ASSAYING. Chemical analysis of metals or ores. This term, as employed in reference to mints and coinage, refers particularly to the processes for determining the component parts and relative proportions of a mixed alloy of gold and silver, or of the various alloys used for the manufacture of minor coins. No. 20. AUSTRIA-HUNGARY. In Austria-Hungary the standard is gold; the monetary unit is the crown; the value in United States coin is $0.20.3; the coins are gold; former system-4 florins ($1.92.9), 8 florins ($3.85.8), ducat ($2.28.7), and 4 ducats ($9.15.8); silver: 1 and 2 florins; present system gold: 20 crowns ($4.05.2), and 10 crowns ($2.02.6). The ratio between gold and limited tender silver is 1 of gold to 13.69 of silver. No. 21. BALANCE OF TRADE, 1895. The following table shows the countries from which our average annual imports are in excess of our average annual exports, with the percentage of imports, admitted free during the fiscal year 1895. The figures are not exact, but approximate the average value of imports and exports for the last ten years: Exports of domestic products are considered an indication of national prosperity, as showing what the people can spare from their own living, and what means they have with which to purchase foreign commodities. Exports pay debts, give activity to BALANCE OF TRADE-Continued. commerce, and save the payment of specie on our imports. People may think that it matters little what may be the state of imports and exports; but a little reflection will show that finally balances must be paid in the precious metals. Hence, it is desirable that the balanse of trade should be in our favor and not against us. FEDERALISTS. The Federalists were in power for twelve years from the organization of the Government, during which time the balance of trade was against us to the amount of $129,918,766. See the following table: Table showing balance of trade under Federalists, 1790 to 1801. The Democrats came into power with the inauguration of Jefferson in 1801. The balance of trade changed against us, with the exception of ten years, to the close of Buchanan's administration, covering a period of fifty-two years. Mr. Cleveland succeeded in 1884, and we held the balance of trade for two years during his term, so that we have a total of $171,947,891 excess of exports for the whole number of years (fifty-six) in which the Democrats had control, while the excess of imports amounted to $1,005,994,182. The following table will show the years covered by Democratic Presidents and the effect on foreign trade for each term: |