The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1898-12-06

when any or the Unlted states Eotes are
presented for redemption In gold and
are redeemed in gold such notes shall
be kept and set apart and only pslid 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 United
States note without paying gold In ex-
change for II. The reason for this is
luade all the more apparent when the
government issues an interest bearing
debt to provide gold for the redemption
Of United states notes-a noninterest
bearing debt. Surely 1t should not pay
them out again except on demand and
FOR gold. II 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 noninterest bearing debt.
In my judgment the present condition
Of the treasury amply justifies the i'm
mediate enactment Of the legislation
recommended one year ago under which
a portion Of the gold holdings should be
placed In trust fund. from which gresa-
backs should be redeemed upon pressn-
tation, but when once redeemed should
not thereafter be paid out except for
gold.
1t 10 not to be inferred that other leg
lslatioa relating to our currency 10 not
required. On the contrary. there 10 an
obvious demand for 1t. The importance
Of adequate provision which will insure
tn n,Np ~ - - nd q I'd tad
as our money standard now IL to that
Of our commercial rivals Is generally
recognized.
The secretary Of the treasury reports
that the receipts Of the government
from all sources during the fiscal year
ended June 80. 1898. including So, .22s
received from sale Of Pacific railroads.
amounted to s405. s2i. sas and Its expendi-
lures to 3443, s6s. $50. There was collect
ed from customs S14s.575.os2 and from
internal revenue $40. s0o,e4l. Our dutia-
BILE imports amounted to $324, 0aS. ~, =
decrease OF $751; 90 over the proceed
Ing year, and importations free Of duty
amounted to Sssl. 414,l76. . decrease from
the preceding year OF tso.b2A.oss. Inter
nal revenue receipts exceeded thoSs Of
the preceding year by ~. ai2.Se7.
The total tax collected on distilled
spirits was as2. so. sss, on manufactured
tobacco $se,aso.522 and on fermented
liquors $ss.sI5.49l. We exported mer-
chandise during the year amounting to
$l.23l. 49,. $50. an increase Of SlS0,4ss,774
from the preceding year.
It Is estimated upon the basis Of pres
ent revenue laws that the receipts OF
the government for the year ending
June 30, 1899. will be $577.s7A.s47 and Its
expenditures sssS. s74.s47. resulting In
deficiency OF sl12. 100000.
On the LIST Of December. 1898. there
were held in the treasury gold coin
amounting to 31ss, 441547. gold bullion
amounting to 3lss.602.645. silver bullion
amounting to sss, sbs. $50 and other forms
of money amounting to $46l. 9S3.sS1.
On the same date the amount OF
money Of all kinds in circulation or not
included in treasury holdings was 81
$50, 879, 604, an increase for the year Of
S1s5. 1895. Estimating our population
at 6.ls4. 900 at the time mentioned. the
per capita circulation was $500. On
the same date there was In the treasury
gold bullion amounting to $13s. 6o2.645
The president says = prompt adoption
of q maritime policy is now necessary,
recommends the appointment Of an ex-
pert commission on yellow fever, ap-
proves Of the increase Of the standing
army to 100, 900 men and declares that
az this Is provided for he will muster
out the entire volunteer army. He
says:
Under the act Of congress approved
April 2S. 1898, authorizing the president
in his discretion, under q declaration
of war by congress or Z declaration by
congress that war exists" directed
the increase Of the regular army to the
maximum OF $4,000 authorised In said
act.
There are now in the regular army
$780, officers and men. In said act II
was provided That at the end Of any
war in which the United States may
become involved the army shall be re-
duced to a peace basis by the transfer
In the same arm Of the service or alb
sorptlon by promotion or honorable dis
charge under such regulations as tho
secretary Of war may establish of STU
pernumerary commissioned officers and
the honorable discharge or transfer Of
supernumerary enlisted mon. and moth
ing contained In this act shall be con-
strued as authorizing the permanent
increase Of the commissioned or enlist
ed 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 rs majors provided
for In section one hereof
- atr I~ .
permanent increase Of the army 10
therefore manifest. and the recommen-
dalton of the secretary Of war for that
purpose has my unqualified approval.
There can be no question that at this
time and probably for some time in the
future, 100000 men will be none too
many to meet the necessities OF the sit
uation. At all events. whether that
number shall be required permanent
ly or not, the power should be given to
the president to enlist that force II In
his discretion It should be necessary,
and the further direction should be CIV
en- him TO recruit for the army within
the above limit from the inhabitants Of
the islands with the government of
which we are charged.
1t Is my purpose to muster out the en-
tire volunteer army as soon as the con-
gress shall provide for the increase OF
the regular establishment This will DO
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.
Railway Matters.
After narratins the proceedings
against the Union Pacific and Kansas
Pacific railroads, the president says:
1t is a gratifying fact that the result
of these proceedings against the Union
Pacific system and the Kansas Pacific
line is that the government has re-
ceived on account of Its subsidy claim
the sum Of So. 7bl, 223.75 an increase Of
$685., 1876 over the sum which the
reorganization committee originally
agreed to bid for the joint property, the
government receiving its whole claim,
principal and interest, on the Union Pa
cifc and the principal Of its debt on