Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1898-12-08


way OF the Canadian canal and tho st. Lawrence
river, Tho vessels had reached Lake Ontario
and were there awaiting the opening OF naViRn-
ton, when war was declared between the
United States and Spain lior malostyb
government thoreupon, by o communication
OF tho latter part OF April, stated that the por-
mission granted before tho outbreak OF hoatill-
ties would not BIO withdrawn, provided tho Unit
Cd States government gave assurance that inc
vessels Id question will proceed direct 70
Unitod Statos port without engaging In my
hostile operation. Thla the government
promptly agreed 10 the stipulated condition,
II being understood that the vessels would NOT
BIO prohibited from resisting any hostile at
tnck, ......
II will give me special satisfaction II shall
DO authorized 10 communicable you favor
Ablo conclusion OF tho pending negotiations
with Ggeat Britain In respect 20 tho Dominion
OF Canada, IL " the earnest wish OF this goV-
eminent 10 remove oil sources Of dlscord and ir-
ritation In the relations with tho noghborlng
dominion. Tho trade between the two countries
10 constantly increasing and 10 Is importat 10
both countries that all reasonable facilities
should 20 granted for Its development
MONETARY MATTERS
The secretary OF the treasury reports that tho
receipts OF the government from oil sources
Guiding SSt, 76J ,ae9 re !olvod from sale OF Pacific
railroads amounted 10 sos, 3!i, 1885 and its or
pendltur0s 10 l9aOs,58s, There was obtained
from customs eIio,b7j,O 0s, and from internal
revenue sl70,00), Oil, our dutlablo Imports
amounted 10 Saea, 705 40, do roaso OF Sis iS0,-
90 over the preceding year, and importatlons
FREQ OF duty amounted TO 1901 IA, a decrease
from tho preceding year OF So, 1908. Internal
revenue receipts exceeded those OF the precod-
Ing year by S!l,2lg,OOs
Tho total tax collected on distilled spirits
was 81 100000 on manufactured tobacco slo,-
22O )92, and on formented liquors G99,Sl5,i eL
We exported merchandise during the yoar
amounting TO Si,eSi, ls2 $50, an increase Of SSJ,-
isS. IA from the preceding year,
II Is estimated upon the basis OF present row
onue laws that tho receipts OF tho government
for the year ending Juno 30 1890 will DO ST.
87i COZ, and It's expenditures $685. ,6l7, re-
Sulting In deficiency OF sli2,DO0,OO0.
On the LIST OF December, 1903, thorc was held
In tho treasury gold coin amounting 10 $685.
al gold bullion amounting 10 0lS8, $40,
silver bullion amounting TO s09, sos, go, and
other forms Of money amounting to si5l0SS,-
08l.
On the same date the amount OF money OF all
kinds In circulation or not included In treasury
holdings was u, 830 $40, bOi IN increase for tho
year OF 9i0b, 70io,0 Estimating our population
at Is, i0i 900 at tho time mentioned the per cap
ita circulation was s!b,
On tho same date there was In the treasury
gold bullion amounting TO SlSe, BO9,bib.
The provisions made for strengthening tho
resources OF the treasury In connection with
tho war has given increased confidence In the
purpose and power Of the government 10 main-
tain the p essen standard, and has established
more firmly than ever tho national credit %
homo und abroad A marked evidence OF this
Is found In the inflow Of gold TO tho treasury.
Its net so holdings on November |, 1905 were
e9), 1895, l0l, as compared with Sl63,H3 M on
November |, 1897, md an Increase Of net cash
OF SsU $50, l00 November l, 1897 TO $50 2S8 27b,
November /, 1893, The present ratio OF not
treasury gold outstanding government liabil-
tiles including United States treasury notes OF
1850 silver certificates, currency certificates,
standard silver dollars and fractional silver
coin, November /, 1905 was 20 IS pcr cent Us com.
plred with 1895 per cent November I, 1897
l renew SO much OF my recommendation Of
December, 1907, ns follows!
THAT when any Of tho United States notes
IRE presented for redemption and 0ro 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 gets II from
the government, he should not receive back
from the government % United States noia,
without paying gold In exchange for II. The
reason for this is made all the more apparent
when the government lssues IN interest boar
Ing debt to provide gold for tho redemption Of
United States notes-a non-interest bearing
debt. Surely II should not pay them out again
except on demand ald for gold. II they arO
put out In any other way they may return
again, TO be followed by another bond issue 10
redeem them, another Understanding debt 10
redeem o non interest bearing debt"
This recommendation was made In tho belief
that such provisions OF law would Insure To
greater degree the safety OF the present stan.
dard and better protect our currency from the
dangers TO which It IL subjected from disturb
nnce In the general business conditions OF the
country. .s. ...-.
In my judgment tho present condition OF the
treasury amply justiAes the immediate enaot-
ment Of the legislation recommended one year
ago under which portion Of the gold holdings
should be placed In n trust fund from which
greenbacks should be redeemed upon presenta-
tlon, but whom once redeemed should not there-
after be paid out except for gold
II Is not TO be inferred that other legislation
relating 10 our currency Is not required ON
the contrary, there is M obvious demand for IL
Tho Importance Of adequate provision which
will insure to our future money standard re-
latod as our money standard now and to that Of
our commercial rivals Is generally recognized.
The companion proposition that our domestic
paper currency shall DO kept safe aud yet be 90
reated TO the needs Of our industries and In
ternal commerce as TO be adequate and respons-
i've TO such needs Is q proposition scarcely less
important Tho subject, in oil Its parts, IL
commended TO the wise consideration Of the
Congress-
ARMY INCR EASE
The Importance OF legislation for tho perma-
nent increase OF the army Is manifest AMI the
recommendation OF the secretary Of war for
that purpose has my unqualified approval
There can DO no question that at this time and
probably for some time In tho future 100000
men will DO none too many to meet the neoes-
stiles OF the situation At all events, whether
that number Shall DO required permanently OF
not the power should DO given 10 the Presi1
dent TO enlist that foro, II, In his disort zion, II
should DO necessary, and the further discretion
should BIO given him to recruit within the above
! limit from tho Inhabitants OF tho islands with
the government Of which we arc charged.
II Ia my purpose TO muster out the onurN
volunteer army as soon as the Congress shAu
provide for the increase OF the regular ostab-
lishment This will BIO only an act OF juStitO
and will be much appreciated by the brave mon
who left their homes and employments to help
the countryin It's emergency.
The following recommendations Of tho Score
tary Of the navy relative to the increase Of the
navy have my earnest approval:
I. Three sea-going aheAthed and copper0d
battleships of abo ut IS, 100 tons trial dsplAoas
| mcnt, carrying the heaviest armor and moaO
powerful ordnance for vessels Of their olase,
| and to have tho highest practicable speed and
| traat rndiue NJ aation Eatlmatnd coat aToiu.