The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-12-06

spirits was se2. 546. e9s. on manufactur-
ed tobacco $3s. 230.522. and on fermented
liquors $685. .421. We exported mer-
chandise during the year 70
81. 2S1. asa. $50. an Increase OF slsO.4ss,114
from the preceding year.
IL is estimated upon the basis OF pres-
ent revenue laws. the receipts OF the
government for the year ending June
so. 1899. will be s577.s74.607. inc its ex-
penditures $685.. S74.647. resulting in a
deficiency of sl12. 900. 900.
on the LIST OF December. 1895. there
was held in the treasury gold coin
amounting to $l3S. al. 547: gold bullion
amounting TO $l3s. sos. 545; silver bullion
amounting TO s93. 359. $50. and other
forms of money amounting to si51.s63.-
esl. Estimating our population at DO
100000 the per capita circulation "
$500. on the same date there was In
the treasury. gold bullion amounting TO
s13s. sos. 545.
The provision made for strengthen
ing the u Of the treasury in
connection with the war. has given in
creased confidence in the purpose and
power of the government TO maintain
the present standard. and has estab-
lished more firmly than ever. the nat
ional credit at home and abroad. a
marked evidence of this is ouni IN the
inflow OF gold to the treasury. It's net
gold holdings Nov. 1. 1898. were s2ss.-
$50. lUV. az compared VIII w
Nov. I. 1897. and an increase of ret
cash Of 500, $50. 100, Nov. I. 1897. to $780,
13S. 375, Nov. 1. 1898. The present ratio
Of net treasury gold outstanding. c.v-
ing liabilities. including United states
treasury notes OF 1890. silver certih-
Gates. currency certificates, standard
silver dollars and fractional silver coin
Nov. 4, 1898. was 1913 per cent. as
compared with 1896 per cent. Nov. i.
1897.
The Currency.
I enew so much of my recommenda-
ton of Dec. l. 1897. as follows: That
when any OF the United States l)tes are
presented for redemption and are re-
deemed in gold. such notes shall be set
apart and only paid out i'm exchange
for gold. This is an obvious duty. II the
holder of United States notes prefers
gold and gets IL from the government.
he should not receive back from 'he
United States n note without paving
gold for II I'm exchange. The reason for
this liz made all the more apparent
when the government issues an interest
bearing debt TO provide gold for the re-
demption of United states notes. a ron
interest-bearing debt. surely II should
not pay them out again except on de-
mand n for gold. IL they are cat In
any other way they may return again,
20 be followed by another issue 10 re-
deem tnem, dnotnef INTEREST DtdIlnc
debt to redeem a non-interest barring
debt.
This recommendation Is made In be-
lief that such provisions of law would
insure to "A greater degree the safety
of the present standard and better pro-
tect our currency from the danger to
which n Is subjected from n distur-
bance in the general business conditions
Of the country. In my judgment the
present condition of the treasury iustt-
fes the immediate enactment Of che
legislation recommended m year ago.
under which n portion of the sold
should be placed I'm a trust fund. from
which ~greenbacks shoul be redeemed
upon presentation. but when once re-
deemed should not thereafter he raid
out except for gold. II is not TO be in
ferred that other legislation relating to
our currency is not required. on the
contrary. there Is an obvious demand
for II.
The impo, ance OF an adequate pro-
a money standard related as our money
standard now IL to that 81 u CONNER
cial rivals. Is generally recognized
The companion proposition that our
domestic currency shall be kent Fafe
and vet be so related to the needs Of
our industries and internal commerce.
as TO he adequate and responsive to
such needs is a proposition scarcely less
important. The subject in all its parts
is commended TO the wise consideration
of the congress.
Maritime Policy.
The annexation Of Hawaii-and the
changed relations of the United States
10 Cuba. Porto Rico and the Philippines
resulting from the war. compel the
prompt adoption of "A maritime policy
by frequent steamship communication.
- -. ~. IHnsNaI CN.sa .,V1AV
the American naE. with the newly ac-
auired islands. Spain furnished to its
colonies, at an annual cost Of about
81. 000. 900. steamship lines communicate
ing with a portion of the worlds mar
kets as well as with trade centers OF
the home government. The United
States will not undertake to do less. II
Is our duty to furnish the people of
Hawaii with facilities. under national
control. for their export and import
trade. IL will be conceded hat the
present situation calls for legislation
which shall be prompt, durable and
liberal.
The part which the American mer-
chant vessels and their seamen per.
formed I'm the war with Spain. demon.
strates that this service. furnishing
both pickets and second line Of defense
Is n national necessity and shout h,
encouraged In every constitutions
way.
Details and methods for the accom-
plishment of this purpose are discussed
In the report Of the secretary Of thu
treasury. to which the attention al
congress Is respectfully invited.
Yellow Fever.
In my last annual message I recon-
mended that the congress authorize tn
appointment Of n committee for tn
purpose Of making systematic investi
cations with reference To the cause an
prevention Of yellow fever. This mat
ter has acquired an increased import
ance as the result Of the military occu
patton Of the island OF Cuba. and tn
commercial intercourse between this Is
land and the United States, which W
ave every reason to expect. The san
itary problems connected with our re
lations with the Island of Cuba an
the acuisition OF Porto Rico are no les
important than those relating to fin
n