The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1898-12-09

TAIN the res uldT at It's present enlist
ed strength of 1000 men after the ratif-
cation of the peace treaty, and until the
passage Of the law providing for 100000
men.
The president also cordially recon-
mends liberal appropriations for in
creasing the navy. He asks that the
navy be increased to enable the United
States to establish and maintain sub
stantial governments in all of our newly
acquired possessions, pending action by
congress as to the most practical form of
government to be created Concerning
this he says:
The following recommendation of the
secretary of the navy, relative to the in
crease in the navy, have by earnest ap-
prevail:
1--Three seagoing, sheathed and cop
pered battleshiDs Of about 13, 500 tons
trial displacement, carrying the heav-
lest armOr and most powerful ordnance
for vessels Of their class, and to have he
highest practicable speed and greatest
radius of action. Estimated cost. ex-
elusive Of armor and armament, S3,-
600 900 each.
2-Three sheathed and armored cruis.
ers of about 10000 tons trial diSplace-
ment. carrying the heaviest armor and
most powerful ordnance for vessels of
their class, and to have the highest prac-
ticable speed and greatest radius OF
action. Estimated cost, exclusive o!
armor and armament. 81, 900, 900 each.
s-Three sheathed and coppered pro-
tected cruisers Of about 5000 tons trial
displacement to have the highest pos
sible speed and great radius or action,
and to carry the most powerful ordnance
suitable for vessels OF their class; esti-
mated cost, exclusive OF armor. and
armament, 81, $50 900 each.
six sheathed and cOppered cruisers
Of about 2500 tons trial displacement, to
have the highest speed compatible with
good cruising qualities, great radius Of
action and 20 carry the most powerful
ordnance suited to vessels Of their class.
Estimated cost, exclusive of armament,
S1141, 800 each.
7 toin with the secretary of the navy
I'm recommending that the grades of ad-
miral and vice admiral be temporarily re-
yived TO be filled by officers who have
specially distinguished themselves in the
war with Spain.
AS to the revenues, IL Is shown that
the demands upon the treasury are so
great now, and promise to be heavy for
many years to come. that it is practical
impossibility to materially reduce the
present war tax.
1t is conceded, with some qualificatio
that the customs duties are not sufficient
and may never be sufficient to meet the
requirements of our national affairs.
Under the circumstances financial re-
form and tariff reform and not strongly
recommended at this time. He says:
The provisions made for strengthening
the resources of the treasury in connec-
tion with the war has given increased
confidence In the purpose and power Of
the government to maintain the present
standard and has established more firmly
the national credit at home and abroad.
A marked evidence of this is found in the
inflow OF gold to the treasury.
/ renew SO much of my recommenda-
ton OF December, 1897 as follows: That
when any OF the United States notes are
presented for redemption in gold and are
redeemed 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 g5ts II from
the government he should not receive
back from the government a United
States note without paying gold in ex-
change for 1t. The reason for this is
made all the more apparent when the
government issues an interest bearing
debt to provide gold for the redemption
OF United States notes. a nOn-interest
bearing debt Surely II should not pay
them out again except on demand and
for gold. If they are put out In any
other way they may return again to be
followed by another bond issue to re-
deem, another interest bearing debt to
redeem a non-interest bearing debt.
In my judgment the present condition
OF the treasury amply justif1es the i'm
mediate enactment Of the legislation rec
commended one year ago, under which
portion Of the gold holdings should be
placed in trust fund from which green
backs should be redeemed upon presen-
tation, but when once redeemed should
not thereafter be paid out except for
gold. 1t 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 companion proposition that our
dornnastin M Shan hc lrarnt