Daily Republican., 1883-12-05
PRESIDENTS MESSAGE.
THE THIRD ANNUAL MESSA6E
OF PRESIDENT ARTAUR
TO CONGREDS.

OF P1ESIDENT ARTHUR
TO CONGRESS.
The topics discussed and presented il
President Arthur's annual message ar
Is typical of the serene condition Of tn
country as was the absence Of any gen
eral apprehension attending the m eetinl
of Con gress-except the Speakership
Whatever is treated by the President
is disposed of in his usual clear, bust
ness ike style, as beiics such docu
ment. Beginning with our foreign af-
fairs, they are all on friendly footing
and what Is brought forward AZ to for
sign countries fully sustains this The
material facts are already known.
1t may be we'll, however, to mention
that the President recommends Com
m issioner to look into and take care Of
the interests of our fishermen on the
northern coasts of the A lantic and Pa
cific, an early revision Of our laws on
psuper (assisted) emigration, and au-
thority to compensate the Comm ission
appointed by the President to inquire
Into allegations made against Ameli-
can pork in foreign countries. Mea-
sures tor the removal Of restrictions on
our trade with Cuba and Porto Rico are
under consideration by the Spanish
Government Switzerland has taken
an initiative in proposing treaties
for International arbitration on
grave questions between nations,
and our Governm mt has given it's
assent to such treaty with Switzer-
land
Steps have been taken for a new
treaty of commerce with Mexico. Peru
is getting into shape for restoration of
regular government, and to that end
Iglesias, the Provisional President, has
called an election for Repr' sentative
Assembly to be held on the 18th of
January, to meet in Lima on the 1st of
March. A revision of the reciprocity
treaty with the Sandwich Islands Is
recommended and we may add that it
Is much needed.
To Offset, and possibly to prevent
certain hindrances to our commerce
with the Spanish West Indies, Brazil
and Turkey, the President suggests that
the Executive might be authorized to
retaliate by similar measures on Govern
ments that misbehave in that way.
Another suggestion is repeated to the
effect that the President might be en-
powered to send delegates to the social
and scientific congresses frequently set
on foot by other Governments. These
notes, we think, cover about all that
needs special mention in our foreign
relations.
The message then proceeds to the f.
nances. The gross revenue from all
sources for the year ending June Both,
1883, was $398, 287, 581 95, and the total
of ordinary ex, enditures was $265, 4O8,-
137. "a, leaving a surplus applicable to
the extinguishment of the public debt
of $132, ,879, ,4i4.41. As a consequence of
the rapid payment Of the debt the only
bonds now within early reach Of the
Government for that purpose are $685.
600. 900 Of three per cents, which, II the
surplus revenue continues to be so great
az it 8 now, may all be called in four
years at least before any of the four and
a half per cents are within call OF thesl
Government. Of the three per cents
nearly 500, 900 900 are now held by the
Treasury as part basis for national bank
note circulation and as these may pos
sibly be called in in the next four years,
and 80 produce a contraction Of the cur.
rency, some plan should be adopted by
which the circulation can be provided
for.
In relation to the surplus the Presi.
dent said :
Hitherto the surplus, as rapidly as 1t
has accumulated, has been devoted to
the reduction of the National debt.
As result the only bonds now out.
standing, which are redeemable at the
pleasure Of the Government, are the
three per cents, amounting to abouI
$305, 900 900.
The four and one-half per cents
amounting to S25O, 10000, and the
S737 900, 900 four per cents are not
payable until 1891 and 1907, respec. |
lively.
II the surplus shall hereafter be as
large as the Treasury estimates now
indicate, the three per cent bonds may |
all be redeemed at least four years be-
fore any of the fOur.snd.one-hslf per
cents can be called In. The latter, at
the same rate Of accumulation Of surplus
can be paid at maturity, and the mo.
neys requisite for the redemption of the |
four per cents will be in the Treasury
many years before those obligations be-
come payable. There are cogent reasons,
however, why the National Indebtedness
should not be thus rapidly extinguished
Chief among them is the fact that only
by excessive taxation is such rapidity
attainable.
In communication to Congress at
its last session l recommended that all
excise taxes be abolished except those
relating to distilled spirits, and that
reductions be also made in
the revenues from customs. A statute
has since been enacted by which the
annual tax and tariff receipts of the
have been cut down to the
extent at least of fifty or sixty millions
of dollars. While have no doubt that
still further reductions may be wisely
this session Of any measures for large
diminution of the national revenue.
The results of the legislation OF the last
session of the Congress have not, as yet,
become sufficiently apparent to justify
any radical revision or sweeping modi-
fications of existing law. In the inter
val which must elapse before the effects
Of the acts Of March 8, 1888, can be
definitely ascertained, portion at least
Of the surplus revenues may be wisely
applied to the long.neglected duty of
our navy and providing
coast defences for the protection of our
harbors. This ia matter to which l
shall again advert.
Better law than that now in existence
toprovide for the succession to the Presi
dency in case of the death or disability
Of both President and Vice President, is
the subject of a renewed suggestion in
the message. This subject was referred
to in our columns few days ago as one
of the pressing duties of Congress-. The
lew as 1t now stands is extremely faulty
and dangerous The President also re-
peats a Recommendation for q constitu-
tional amendment that will enable the
Executive to veto Objectionable items
:, o,,,roDr;a t;,,o h;llu mi ~ ont laTa,t;nr |