Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1896-12-10

and costs SS,2OO,00O annually, which
should suffice. He believes both the
regular army and militia should have
more money for equipments.
Regarding the navy, the president
oommends the expenditure of money
for coast defenses, declares his belief
in the ability of the government to
build its own vessels and equipments,
is opposed to paying any further speed
premiums and recommends a plan for
laying up ships in reserve so as to re-
duce the cost of maintaining our YES
sells afioat Eight new cruisers and
two gunboats have been commissioned
and the chief executive says American
ships are equal to any afloa'.
The president thinks federal Of
tenders should be confined in the gov
ernment prisons. The postoffice de-
partment, he says, Is in 81
ton with a deficit of $S,U00.000 owing
to reduction of postal duties and an
increase without propt rtionate revenue
of the low class mail matter The
total Indian population is III, 235.
show improvement under government
management and recommends they be
looked after by commission, one Of
whom shall be an army officer.
Pensions
President Cleveland hits the pension
grabbers hard blow He shows that
last year the number of pensioners
materially increased until the list is
the largest ever reported. Numbering
97067s persons and costing $13S214,-
1894.
President Cleveland demands the
speedy settlement of the Pacific rail-
road loans and grants and especially
the foreclosure Of the Union Pacific
mortgage. He shows in the agricu-
turaI department. that he value of
farm products exported in 1896
amounted to $75o,000,0 900 He Is OPP
posed to further gratuitous distribu-
ton of seed The interstate commerce
and civil service laws are highly COM
mended.
Defends Wilson Bill.
While admitting a deficit of little
more than $25.0O0,000 the president
defends the Wilson tariff bill as hav-
ing opened up foreign markets and
stimulated trade with ether countries.
The present bill, he says, will yield
sufficient revenue if given fair trial.
but the def it was 10 be expected in
the face OF the business depression of
the past two years In this connection
he defends TIE drafts made on the re-
serve fund, as he says II is immeasur-
ably better to appropriate cur surplus
to the payment OF ju tifiahle expenses
than TO allow it to become an invita-
ton to reckless appropriation and eX-
travagalt expenditures.
Financial Reform
President Cleveland alludes to our
financial methods as weak and vicious
and asks a prompt reform of the sys-
tenn which is opposed to every rule of
sound finance and shown by experience
to be fraught with a grievous peril
and perplexity. He refers to the late
contest as being greater menace to
property than the late civil war. He
declares that financial peace cannot be
secured until government currency OBJ
legations upon which gold may be de-
manded are Withdrawn from circula-
ton and cancelled He advocates their
exchange for long term, low interest
bond or their redemption with the pro-
ceeds of such bonds. RI this is not
done he believes such currency obliga-
tions when redeemed should be cam
celled instead of being reissued. Ma
tional banks should redeem their own
notes. They should be allowed to is
sue circulation to the par value OF
their deposed security and their circu-
lation tax should be reduced to one
fourth of one per cent. Summing up
the financial situation the president
says. 1.-The entire case may be pre-
scented by the statement that the day
of sensible and sound financial method
will not dawn upon us until our gov
eminent abandons the banking bust
ness and the accumulation OF funds
and confines its monetary operations
to the receipt of the money con-
tributed by the people for it's support
and to the expenditure of such money
for the peoples benefit" "our BUSH
ness interests and all good citizens
long for rest from feverish agita-
ton and for the Inauguration by the
government Of reformed financial
policy which will encourage enter
prise and make certain the rewards OF
labor and industry"
Trusts.
After denouncing the tendency OF
the times towards the creation OF
trusts and monopolists the tendency OF
which the president said is to crush
out individual Independence and to
hinder or prevent the free use of the
human faculties and the full develop
ment OF human character, the presi-
dent appeals to congress to exercise
rigid economy, saying, 'the way OF
perplexing extravaganza = easy but a
return to frugality is difficult" He
then concludes as FIJI VS.:
When our differences are forgotten