Arizona republican., 1896-12-08

is opposed to paying any further speed premiums and recommends plan for | laying up ships in reserve so as to re- duce the cost of maintaining our yes sells afioat.
 Twenty-eight new cruisers and two gun boats have been commissioned and the chief executive says that American ships are equal to any that float. The president thinks federal offenders should be confined in the government prisons The postoffice department, he says, is in good condition, with a deficit of $S,0O0,00O owing to reduc- tion of postal duties and the increase without proportionate revenue of the low class mail matter.
 The total Indian population is 177,- 235. The president believes the h. dians show improvement under gov ernment management and recommends that they be looked after by commits sion, one of whom shall be an army officer
 President Cleveland hits the pension grabbers a hard blow He shows that
 last year the number of pensioners
 materially increased until the list is
 the largest ever reported, numbering 97O,67S, and costing s13S,214,761.94. 1 President Cleveland demands the settlement of the Pacific railway loans
 and grants and especially the fore
 closure of the Union Pacific mortgage. | He shows in the agricultural de-
 partment that the value of farm pro
 ducts exported in 1896 amounted to
 $570 ,000,0 ,000. He is opposed to further
 gratutitious distribution of seeds. The interstate commerce and civil
 service laws are highly commended. ] While admitting a deficit of little
 more than s25,O00,0O0 the president defends the Wilson tariff bill as hav-
 ing opened up foreign markets and
 stimulated trade with other countries.
 The present bill, he says will yield
 sufficient revenue if given a 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 immeasurably better to ap- 1
 of justifable expenses than to allow it
 to become an invitation to reckless ap-
 propriation and eXtrayagant expendi- lures.
 I President Cleveland alludes to oul financial methods as weak and vicious and asks prompt reform of the system
 which is opposed to every rule o1 sound finance and shown by expert
 ence to be fraught with grievous peri
 and perplexity. He refers to the late contest as being a greater menace tC
 prosperity than the late war. } He declares financial peace canno be secured until the government cur
 rency obligations upon which gold may be demanded are withdrawn from cir , culation and cancelled. He advocates , their exchange for long term low in
 terest bonds and their redemption witt :, the proceeds of such bonds. If this il } not done, he thinks such currency ob
 ligations when redeemed should b. } cancelled instead of being reissued l National banks should redeem thei 7 own notes. They should be allowed to be issued in circulation. Tax shoult 5 be reduced to one-fourth of one pc } cent.
 r Summing up the financial situation , the president says: "The entire cas 5 may be presented by the statemen 3 that the day of sensible and soun ) financial method will not dawn on u s until our government abandons tn = banking business and the accumula l tion of funds and confines it's none
 tary operations to the receipt Of tn : money contributed by the people fo d it's support and to the expenditure ( }, such money for the peoples benefi : IOur business interests deman = this, and all good cit S zens long for rest from feverish agite n tion and the inauguration by this goN S ernment of a reformed financial pol l. cy which will encourage enterprise an ; make certain the rewards of labor an s industry"
 $ After denouncing the tendency ( ; the times towards the creation ( l. trusts and monopolies, the tendency ( 3. which, the president says, is to crus l. out industrial dependence and to hiI ; der or prevent the use of human facu a ties and the full development of hl n man character, the presidel lc appeals to congress to exc t, else rigid economy. CThe way 4 perplexing extravaganza is easy, but r. return to frugality is difficulty. F n then concludes as follows: ''Whe 0, our differences are forgotten and ol S. contest of political opinion is no long ; remembered, nothing in the retr l. spect of our public service will be of fortunate and comforting as the reco le lection of official duty well performe d, and a memory of constant devoti6
 to the interests of our confiding fe 79 low countrymen."
 ,- GROVER CLEVELAND.