The age-herald., 1898-12-06

~~~---~-~--->~-------~~- ceding year, and importations free of duty amounted to $291. .414 ,175, a decrease from the preceding year of $9O,524.06S
 Internal revenue receipts exceeded those of the preceding year by $24,212,O6S.
 The total tax collected on distilled spirits was $92, ,s99 on manufactured tobacco, $96 29O,522 and on fermented liquors, $39,- 615,421. We exported merchandise during the year amounting to $1 ,123 ,4S2 330, an i'm crease of s1s0, ,4SS,77O from the preceding year.
 It is estimated upon the basis of present revenue laws that the receipts for the year ending June 30, 1899, will be $577,Sl4 ,6O7, and its expenditures $6s9 STA, CAT, resulting in a deficiency of SIP, 900 000 On the first of December, 1898, there was held in the treas ury gold coin amounting to $13S Al ,547, gold bullion amounting to $13S.502,545; silver bullion amounting to $93, ,359 250, and other forms of money amounting to $451 ,96S9S1.
 On the same date the amount of money of all kinds in circulation or not included in treasury holdings was $1,SS6 ,5O4, an in- crease for the year of $165 ,79i ,966. Esti- mating our population at ,00O at the time mentioned the per capita circulation was $2509.
 On the same date there was in the treas- ury gold bullion amounting to s1SS,5o2'545.
 The provisions made for strengthening tn resources of the treasury in connection with the war has given increased confidence in the purpose and power of the government to maintain the present standard and es- tabish more firmly than ever the national credit at home and abroad. marked evil dence of this is found in the inflow of gold to the treasury. Its net gold holdings on November l. 1898, were 5,160 as com pared with $153,573 147 on Nomevber 1. 1897, an increase of net cash of S207 756 100 No- vember 1, 1897, to $500 ,2Ss,275 November 1, 1893.
 The present ratio of gold outstanding government liabilities, including United States notes, treasury notes of lS9o, siVer certificates, currency certificates standard silver dollars and fractional silver coin, November 1, 1898, was 25.S5 per cent, as. compared with 1926 per cent November l, 1897.
 Recommendation of 1897
 renew so much of my recommendation of December, 1S97 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. If the holder of the United States note prefers the gold and gets it from the government should not receive from the government a United States note without p3y1nR SOlQ TOT II. l0S TedSOH lOT lLlS IS made all the more apparent when the gov ernment issues an interest-bearing debt to provide gold for the redemption of United States notes, it pays a non-interest-bearing debt. Surely it should not pay the note 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 redeem them-another inter- est-bearing debt to redeem non-interest- bearing debt !" This recommendation was made in the belief that such provision of law would insure to a greater degree the safety of the present standard and better protect our currency from the dangers to which it is subjected from disturbance in the general business conditions of the country.
 of the treasury amply justifes the imme- diate enactment of the legislation recom- mended one year ago, under which a DOT ton ofathe gold holdings. should be placed in a trust fund from which greenbacks should, be redeemed upon presentation but when once redeemed should not thereafter be paid out except for gold.
 It is not to be inferred that other legis- latfon relating to our currency is not re- quired; on the contrary, there is an obvious demand for it.
 The importance of adequate provision which will insure to our future a money standard, related as our money standard now is to that of our commercial rivals, is SeHerdlly FeCOSniZeu- inc companion prop oSltlon that our paper currency shall be kept safe and be so related to the needs of our industries and internal commerce as to be adequate and responsive to such needs is a proposition scarcely less important The subject in all it's parts is commended to the wise consideration of the congress
 Adoption of Maratime Policy
 The annexation of Hawaii and the changed relations of the United States to IL IQ npfo DsaA results from the war to compel the prompt adoption of maritime policy by the United states. There should be established reg uar and frequent steamship communica- tion, encouraged by the United States, un- der the American flag, with the newly ac quired islands. Spain furnished to it's colo nes at an annual cost of about two mill lion dollars steamship lines communcatine with portion of the worlds markets as well as with trade centers of the home government. The United States goyern- ment will not undertake to do less It is our duty to furnish the people of Hawaii with facilities under national control for their export and import trade.
 It will be conceded that the present sit- uation calls for legislation which shall he prompt durable and liberal.
 The part which American merchant ves- seis and their seamen performed in the war with Spain demonstrates that this ser vice, furnishing both pickets and the sec- Onu llne or ue1enSe, IS national necessity and should be encouraged in every consti- tutional way
 Details and methods for the accomplisl- ment of this purpose are discussed in the report of the secretary of the treasury to which the attention of congress is respect fully invited. In my last annual message recommended that congress authorize the appointment of a commission for the pur- pose of making systematic investigations with reference to the cause and prevention of yellow fever This matter has acquired an increased importance as 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 Sanitary problems connected with our new relations with the island of Cuba and the acquisition of Porto Rico are no less important than those relating to finance, commerce and administration. It is my earnest desire that these problems may be considered by competent experts and that everything may be done which the most recent ad- vances in sanitary science can offer for the protection of the health of our soldiers