Show Bureau of American Republics Information WASHINGTON June 19Tho bureau of American republics has received a copy ot the annual message of President Pellegrini of the Argentine republic laid before congress con-gress in May last He states that the only exceptional measures ho i compelled to adopt is the declaring the city of Buenos Ayres in a state of siege and the suppression suppres-sion of the few newspapers that are stirring stir-ring up strife The concessions of notional lands covering cover-ing 50000 square miles which have been made to speculators for colonization purposes pur-poses are revoked a the holders of the concessions failed t carry out the conditions condi-tions on which they obtained the lands Many public works had of necessity been suspended for lack of funds Assisted immigration im-migration from Europe bad been stopped The revenues for 1390 were in currency cur-rency 73400000 the expenditures 92 800 leaving a deficit of 19400 000 The revenues for 1S91 had been calculated at 20003000 in gold President Pellegrini expresses the hope that the country by the aid of the mora taribus loan negotiated in London would be able to pay its way the third year The trade returns were encouraging Exports were increasing and imports declining I The financial crisis the president says grows worse only paper money of which I there are two hundred and sixty millions in circulation ia sustained at0 per cent He I estimates the losses since the crisis began at 200000000 pounds sterling The National bank now owes the treasury fGOOGOOCO in currency and I2COOOOO in gold He considers con-siders the best solution of the financial difficulties would be to correct the defects in the state banking system revive the I credit of the state banks and enable them to contnue For this purpose he recommends recom-mends a parliamentary commission He adds But a gold standard is an insuperable in-superable difficulty in the way of resuming specie payment I we want a metallic basis we must resort to silver All objections I object-ions raised against a silver standard may apply to Europe but do not affect us |