Great Falls weekly tribune., 1896-12-11

amount III CliEuiaIlOh bNCluslNG Oh TREAS
ury holdings was II ,G27G77 Gao. or $'22 93
per capita On a population of 1l,902 900.
The coinage Of these metals through The
WORLD The eame year was S2232,TOI,l}S in
gold and 5lG1 sos, ,2l9 in silver. oct. 6,
1896, there wcro 3,G10 rational baaks IN
operation with 33,2Gl $50 resources, Of
The liahilit.ea $500 69lO5S 03 Was due
depositOrs; - 600, 900 was in oCt5tand-
Ing circulation notes. Tweuty-eib ht new
hanks wero organized and 81 eurren-
dered their charters while for 81 othors
receivers were appointed. State banks
to the number Of 5,7O1 ara in existence.
During the year 310,4GS immigrants
than 100000.
La reviewing the report Of the socre-
tary Of war the president does not rec
ommend an increase in the army, as he
says the organized militia number ll2,-
979 men and cost $3,200,O0O annually,
which should suffice. He believes both
the regular army and militia should have
more money for equipment.
Regarding the navy the president
comments on the expenditure of money
for coast defenses, declares his belief in
the ability of the government to build
its own vessels and equipments, is op-
posed to paying any further speed pre-
miums, and recommends plan for lay
ing up ships in reserve go as to reduce
the cost Of maintaining our vessels A
t1otilla of eight new cruisers and two
gunboats has been commissioned and
the chief executive says American ships
are equal to any atloar. The president
thinks federal offenders should be con-
! HpnH in the tyDyprpnant nrISnDl
The poetotlice department, he says, is
in good condition, with a deficit of
Sc, 100000, owing to a reduction of pos
tai duties and the increase without pro-
portionate revenue OF the low class mail
matter.
The total Indian population is Ill.,
235. The president believes the Indians
show improvement under government
management AID recommends they be
looked after by a commission, one Of
whom shall be an army officer.
President Cleveland gives the pension
grabbers a hard blow, He shows that
last year the number of pensioners ma
terialy increased until the list is the
largest ever reported numbering 91O,G7o
persons and costing 5l3S,2ll, ,TGl9I.
President Cleveland demAnds the
speedy settlement Of the Pacific railway
loans and grants, and especially the
foreclosure Of the Union Pacific mort
gage.
lie shows in the agricultural do
partmeut that the value of farm pro
ducts exported in 1896 amounted to
Soo00O He is opposed to further
gratuitous distribution of seed. The in
terstate commerce and civil service laws
are highly commended.
While admitting deficit Of little
more than $25,000,OOO, the president de-
fends the tariff bill as having opened up
foreign markets and stimulated trade
with other countries The present bill,
he says, will yield sufficient revenue if
given fair trial, but the deficit was to
be expected in the face Of the business
depression of the past two years, In
| this connection he defends the drafts
made on the reserve fund, as he says it is
immeasurahly better to appropriate our
surplus to the payment of justltiable ex
penses than to allow it to become an in
vitation to reckless appropriations aud
extravagant expenditures The preei-
dent alludes to our financial methods as
mean and vicious and asks 4 prompt re-
form of the system which is opposed to
every rule of sound finance and shown
by experience to be fraught with griev-
GUS peril and perplexity.
He refers to the late contest as being
a greater menace to property than the
late civil war. He declares financial
peace cannot be secured until the gov
ernment currency obligations upon
which gold may be demanded are with
drawn from circulation, and when re-
deemed they should be Cancelled instead
of being reiesued. National banks should
redeem their own debt. They should be
allowed to issue circulation to the par
value of their deposited security and
their circulation tax should be reduced
to one fourth of one per cent. Summing
up the financial situation, the president
says The entire case may be presented
by the statement that the day Of sensi
bic and sound financial methods will not
dawn upon us until our government
shandona the banking business and the
accumulation Of funds and confines its
monetary operation to the receipt OF the
money distributed by the people for its
support, and to the expenditure of such
money for the peoples benefit. Our
business enterprises and all good citi-
zens long for rest from feverish agita
tion and the inauguration by the gov,
eminent of reformed financial policy
which will encourage enterprise and
make certain the world OF labor and in
dustry,"
After deaouucing the tendency OF the
times toward the creAti IN of trusts, the
tendency of which, the president said, is
to crush out individual independence
and to hinder and prevent the free use
OF human faculties and the full develop.
ment of human character, the president
appeals to congress to exercise rlgiC
economy
"The way OF perplexipg extravaganza
is easy. but return to frugality is diff
cult" He then concludes as follows
"When our differences are forgotten anc
our contests of political opinions are no
longer remembered, nothing in the re
Prospect OF our public service will be al
fortunate and comforting as the recollec
tion Of official duty we'll performed and {
memory Of constant devotion to the in
terests of confiding fellow countrymen,'
CSigned) GROVER CLEVELAND,
Evonp+iva M ,pc;op