The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1896-12-24

~ nfrio
ground of exnedia,sv or sa,,,, upon s,l any
SDrinciple and ~ ,aa ~,
frequently rec1rrinr dor, ,as - -, aii
not weaken the fonndations ~ on ant; -
currency system TINS I'm M ~
and depressing business q wn1id -nar.artha
sless. he the I ,.,a
with anva dnoreas ~ Observation-Disclosures u 80.
a1opt. on az nrnner Ann ncia mathods ~ IN.
sist mon tha ~, ~,
this subject Al lthr norlast nossihIa dap
I, -, 4 =, ~.
& ~, ~ IL -S, ~ - =
- = Nv, one aDsoluteiy certain way
e aiiu 4ues-
ratira and ~ al ~ and 70
~ NJ s, me AZ g; attempts
- py me govern
n o. ~, stne OBVIOUS reason
yad nIil nol consent 70 pc
II Tue purpose OF accumu-
s.,,rI7s =; ~ +i.o.A1as = ~ rye ana useless
"a With "a l;hnroi = ~ ~.
= - = '..an ~ poHcy, pro-
Ia 100 ~ pron.uoie lltrouuction OF our
Of .hso lhe MARKERS
srstan = 80. = cultellcy
90 - lor
We NAV
~ tha ~ - .pon lne operatloh
for ahnnda,,+ 49,, at"s anu nll'lce
fn;v iavaion III - !. .ne peoplc ana
o,,r ueseiop VI tne sfeas resources ut
& In nv last 5on,,., M. i74.l51 sfz5a
~ andoi. ~ : $500. p FL - WIS IecoM-
shon1d ba au+bnr;soS - i.s, " . .ne lIeaslIy
fine hnmds napahI a - =, ISSUE aI, lrun !lle 70
.terest at q rate not a1oe s1u, IN ~
nor annn,n M -'ba,;,,-I.1Ais pel ceiil
run. and f., excIanaa . s,,e,, .9ns .iMe 70
States and traa ,,1t,
as nj ONT 10 10 TINS l'
ernmant ~. ~ soas ~ we soV
gold whenever IN bis l,,Ion us : LIZ
be a6visahla "a ~. 10 nta ~, iienl' - 1sns
fms ohtainod ~ ~ ~, aiu s use Ine goiu
onts+, nai,,,r &c., =. iia tr reue1nptlons OF
this recomme fion M ,,,as y wh ne.
suggestions snhn;ttad Va" q, nsau anu ne
Shaved tha+ - d;a - as'al - = ~
retira1n ont nf 81, IN Tue
ono ti1na M I'M .anuns noLes AT
SO conducted as 70 oi,,;a snuuiu "
improne1 contra cto ~ + Ins uaneea q . an
iievinp tbo+ +h;s "a I
notes md a. ~ .ne
an aI.snl,1+oI ..tne
Of them nrnIn.sas the n,os+ aey+oi, 49, pace
- 49, 80. p.on. .s Tue most certain means
a reasonable time i adhara ~ ~ -, 49,
then expressed; but the object to be at
tanned is so essential to the future fnan-
cial safety Of the country that it ought not
IN my judgment. ia he defeated nv alan'
doned simply on account of i;fferanoas 80
opinion concerning the methods IF socnr-
ing it. " ' q. = - -
While an act comforting exnress nd 5nlon.
airy authority upon the secretarv 70 iss,,e
bonds and use them or the proceeds If
their sale for the nurnosn ~ Z roti,in,, =
certain amount Of tho nntts oooh ,-eo,
would IN nv oninia, ~ sacu ear;
and economical way to accomplish that oh
ject, and 1t NAV he thot 50 radical a maoS
ure would not receive the assent Of con.
gress, In the present state of the nnhlic
mind unon tho snhinot ami -if ,,o "a r. n,,i,
united that nj no 'varv lnost ~ o,thorit,,
should he given r. ratiro anI aon..oi
maximum amnnnt IF nntos ooah ,,oo, 49,
voluntarily presented ~ tho ho,dar. M
redeemed in gold md ;f +,,a no,ue,s amu
amount fixed nv CONGRESS shnr,d : - W. ~
retired and con,a1ioa 80 NJ W
daro,,tioo a,,t ~ -, ~ NY ear py re-
RETRY ~ ~ inc sec
with a,,thority ~ ciol i'
any snrn1ns finds :; app ti; tuoa .nas purpose
add,tionl IF na.ess.rr 'ne ' iss ana IN
letter Of bonds above dascr issae ene cna m
Giant amorn+ - uesr,ipsu 10 4 sum
- 49, ailount 70 comply with the provisions
= !" =. =, stts8.t .
'Clllrrc'ulat1ns Notes. al
8 FOE reasons which were submitted at
some length IN my last annual report, and
Mnlcn II IS unnecessary to repeat, i recon-
memo sucn amendments to the national
banking laws as would permit the issue OF
circulating notes equal In amountsgto the
lace value OF the bonds deposited, and re-
duce the tax on notes to one-fourth Of
per cent per annsnm, and that authority be
given to establish branch banks for the
transaction OF all kinds Of business now
allowed, except the issue, Of circulating
notes. "a a Es @
The limitation upon the required amount
OF capital OF banks should In the Judgment
Of the secretary, be reduced to s25 600. inefhe d
course Of his report on the public exnen-@ 4
ditures and revenues, the secretary SAYS:
AT the close Of the fiscal year 1898 the
available cash balance In the trea s,,rv
after deducting all current liabilities hit 4
including the gold reserve Of 500 600. OOO A
was $195, 24O, 153, and at the close If +ha
fiscal year 1896 the available cash balance
excluding the current LIABILITIES. hnt inclnd''
Ing the gold reserve OF 500. 900 COO. Was
S267. 1852. 096, an increase Of sT2. 191 90 mo
excess Of expenditures over receints dnr.
ing the year was G$25, 2O3. 245. while
the defcieslcyl during the fiscal Years
1884 and 1895 was 500. SO3. 26C and
S42,S05, 223 respectively. s makinp fha
total excess Of expenditures over re-
ceipts from the ordinary sources Of reve-
nue. during the three wears S137 81 100
The ordinary expenditures Of the GOVERN
ment, including pensions and Interest an
the public debt, were S31, 2Y8. sos less DIR
Ing the fiscal year than during the f1scol
year which closed on the Both dav of limo
1893; So, 345,S33 less than In 1891. and
81, OLD, S52 less than during fhe wear 51ae5
The total receipts from the ordinarv 9snTrcos
OF revenue, including the nostaI seruioa for