The Holly chieftain., 1898-12-09

missionaries resident IN that country during
the Armenian troubles OF 1895 as well as for
the recognition OF older claims OF equal just
ness
Matters Concerning the Tres.urv.
The secretary OF the treasury reports that
the receipts Of the government from all sources
during the fiscal year ended June 30. ls9,. in-
Guiding sI75Ls..3 received from sale of Paritc
railroads, amounted TO siJS 81 q, and its eS-
penditures 10 AS 36..as1 There was obtained
from customs 'iis. SIS, O5, and from internal
revenue sls0 9oo.oii Our dutiable imports
amounted to 1891. Is i7s. a decrease of 50, IS6-
6sJ over the preceding year. and imporLations
free Of duty amounted to 9i.iIiI75, de-
crease from the preceding year OF ,9l,a!4,Oss
Internal revenue receipts exceeded those OF
the preceding year by f2i2is,U6.
The total tax collected on distilled spirits was
sss sid,99, on manufactured tobacco '3S % SCI,
and on fermented liquors s3J.Sl5 Al. We ex-
ported merchandise during the year amount
ing To .i,s3i.is.3s1. increase OF siso. As. IA
from the preceding year.
1t J. estimated upon the basis of present
revenur laws that the receipts OF the govern
meut ios the year endiug June 80 1880. will be
r55. s7i607, and its expenditures t6s9 3.ioH. re-
sulting In q deficiency OF sli2, ,,Ol 0On
On the ist Of December. ISIS. there was held
in the treasury gold coin amounting to tl5s =
iii ,5i7, gold bullion amounting to 3s.50!, S45.
silver bullion amounting TO ss3 $50 80 and
other forms of money amounting TO iSi.ss3 ssl.
On the same date the amount Of money OF nli
kinds In circulation. or not included In treas
ury holdings was IL. i.sl5s.g.5 4, an increase for
the year Of si5i 7g4 s6i Estimating our popu-
lEtion at %, i04,OOJ at the time mentioned the
per capita circulation was F.ata On the same
date there In the treasury gold bullion
amounting to il3s, S0s55.
The provisions for strengthening the re-
sources of the treasury in connection with The
war has given increased confidence In the pur-
pose and power OF the government To maintain
u
firmly than ever the national credit at home
and abroad.
Irenew so much OF my recommendation of
December 1897. as follows: That when any
Of the United States notes are presented for
redemption in gold such notes shall be kept
and set apart and only paid out in exchange for
gold. This IS an obvious duty II the holder
Of the United States note prefers the gold and
gets 1t from the government he should not
receive back from the government "a Unitsd
States note without paying gold in exchange for
it The reason for this is made all the more
apparent when the government issues an issue
bearing debt to provide gold for the redemp-
tion of United States notes-a non-interest-
bearing debt Surely IL should not pay them
out again except on demand and for gold II
they are put out In any other way they NAV
turn again, to be followed By another bond is
sue to redeem them, another interesting bear
Ing debt TO redeem a uOn-interest bearing DEBT
This accommodation was made in the belief
that such provisions of law would insure to n
greater degree the safety OF the present stand
ard and better protect our currency from the
dangers to which it is subjected from dis
tur0auce in the general business conditions OF
the country.
In nv Judgment the present condition OF the
treasury amply Justihes the immediate enact
ment OF the legislation recommen led one year
| ago, under which portion Of the gold hold
| ings should be placed In n trust fund from
which rreeubacss should be redeemed upon
presentation, but when once redeemed should
not thereafter be paid out except for gold
| II is not to be inferred that other legislation
relating to our currency is not required. On
the contrary. there is an obvious demand for
/ IT, The importance OF adequate provision
| which will insure TO our future u money stand
ard related as our money standard now and to
| that OF our commercial rivals is generally
| recognized.
| The companion proposition that our domes-
| tic paper currency shall be kept safe and yet
DE SO related TO the needs OF our industries and
| internal commerce as to be adequate and re-
| sponsive to such needs Is Il proposition scarce
| ly less important The subject in all its parts
| is commended to the wise consideration OF the
| congress.
| Invsstigation of Yellow Fever
In nv last annual message / recommended
that congress authorize the appointment OF n
commission for the purpose of making systc-
matte Investigations with reference to the
i
| matter has acquired an increased Importance
| as n result OF the military occupation of the
! island OF Cuba and the commercial Intercourse
| between this island and the United States
| which we have every reason to expect The
| sanitary problems connected with our new re-
| lations with the island of Cuba and the acquisi-
tion OF Porto Rico are no less important than
those relating to finance, commerce and
| administration
| increase of th- Army.
| Under the net of congress approved April &c
lsss. authorizing the president In his discretion
upon a declaration OF war by congress. or a
| declaration by congress that war exists ! di-
rected the increase Of the regular army to tho
| maximum OF 500. authorized In said act
| There are now In the regular army 81 sd. Off
GERS and men In said act IL was provided that
at the end OF any war in which the United
| States may become involved the army shall be
reduced TO q pc ace basis by the transfer in the
| same arm OF the service or absorption by promo
| tion or honorable disclarge under such regula-
tions as the secretary OF may establish of su
| pernumerary commissioned officers and the hon
| orable discharge or transfer OF su ernumerary
enlisted men, and nothing contained IN this act
| snail be construed authorizing the perma-
| nent increase of the command or enlisted force
| of the regular army beyond that now provided
| by the law in force prior to the passage OF this
act except as to the increase OF - majors pro-
vided for in section hereof"
| The Importance OF legislation for the per-
| manent increase Of the arms is therefore mani :
| Test, and the recommendation OF the secretary
| OF war for that purpose has my unqualified ap-
| proval There can be no question thar at this
| time and probably for some time in the future,
| 10000 men will be none too many to meet the
| necessities OF the situation. AT all events.
| whether that number shall be required per-
| manently or not, the power should be given to
the president to enlist that force H. in his dis
| erection. It should be neces ary; and the further
| discretion should be given him to recruit with
| in the above limit from the inhabitants OF the
| islands with the government OF which we are
| charged
| II is my purpose to muster out the entire vol
| unteer army u soon as the congress shall pro-
vide for the increase OF the regulnr establish
| ment This will be only an act Of justice and
will be much appreciated by the brave men who
| left their homes and employments to help the
| country in its emergency
| Pacific Railroads.
l. In my last annual message l stated The
| Union Pacific railway, main line, was sold
| under the decree q: the United States court for
| the district OF Nebraska the ist and I'd of No
| yember OF this year The amount due the
| government consisted OF the principal OF the
| subsidy bonds, a7.23S5l2 and the accrued in
| :erest thereon, 3l.2il.5liU7, making the total
| indebtedn, IS 5s.4ls.2st5a The bid at the sa G
covered the first mortgage lien and the entire
mortgage claim OF the government principal
| and interest "
This left the Kansas Pacific case uncon-
| cluded. By decree OF the court in that case
an upset price for the property fixed at u
| sum which wou yield TO the government only
| 2.5OO, ,0Oo upon Its lien The sale at the In
| tance Of the government was postponed first
| TO December Is. 1897, and later. upon the appli-
cation of the United States was postponed to