Audubon County journal. (Exira, Iowa) 1884-1993, 1898-03-17
FINANCES FOR WAR.
OUR RESOURCES WOULD BE AMPLE,
SAYS Mr.. DoCKERY.


SAYS Mr.. DOCkERY.
The Missouri Representative Shows That
the Government Is Much Bette.. Prepared
Than 1t Was Thirty Years Ago United
States Army and Navy Equipment.
Referring to the financial resources
of the government available for war
uses and the probable methods the gov
eminent would employ to raise money
in the event of war, Representative
Dockery of Missouri said
| "The government had few evenings
ago an available cash balance in the
treasury of $225, OH, O32. 10. This treas
ury balance, exclusive Of the 800, O00,-
900 gold reserve. is available to meet all
| treasury liabilities. In the event the
gold reserve should be trenched upon
the resumption act of Jan. ID, 1876,
authorizes the secretary of the treasury
| to issue coin bonds to maintain re-
sumption. This is the only law now
| authorizing the issue of bonds, and the
president might invoke its aid to main
tain the gold reserve. and by the exist
ing treasury construction the money
| thus procured from the sale Of bonds
could be used to meet current expenses
after having once performed redemp
ton functions. Should war be declared,
however, the president would not be re-
quired to thus secure money. Congress
| would at once provide the treasury with
an ample income, as it did from 1861 to
1866, by taxing if necessary manufac-
lures, express companies, insurance
companies, banks and other owners Of
wealth, and by granting authority to
the secretary Of the treasury to issue
bonds, and thus supplement any de-,
| f1oienoy in revenues not met by these
extraordinary methods of taxation. The
only income the national treasury en-
joyed during the war period which
could not now be availed of would be
the revenue derived from the tax upon
incomes The recent decision of the SUI
preme court having declared such taxa
| tion to be unconstitutional, the people
would be compelled to maintain the
army and navy without any aid from a
tax upon incomes.
eff war should come the resources
Of the republic will he ample to meet
its liabilities without the hardships of
taxation entailed by the civil war.
Then our people were estranged and di-
vided; now they are united and ready
to contribute whatever may be essential
to uphold the dignity and honor of the
nation either upon land or sea-. Since
the civil strife our population has more
than doubled, the mileage of railroads
more than trebled. all our industries
have multiplied greatly. and the national
wealth now reaches the mighty total of
more than $40. 900, 600, 600. Our fnan-
cial resources, therefore, are fully ade-
quate to meet all the possible require
ments which war might entail upon the
treasury. Our army, it is true, is but a
skeleton army, consisting Of but 25, 600
men, but that army would swell to mil
lions upon the CALI Of congress and the
president. Our new navy, while not SO
powerful as the navies Of England, Ger
many and other great European powers,
is yet formidable and if the occasion
arises will prove a worthy successor Of
the old time navy. The superb conduct
Of Captain Sigsbee amid the awful hor-
rors incident to the destruction of the
battleship Maine shows that the valor
OF our seamen is not decadent.
Since 1888 congress has authorized
the construction Of ~ war vessels at a
,ost Of $ls4, 439, 707. 10. Sixteen of the
vessels have not yet been completed.
The vessels authorized since 1883 are as
follows:
Battleshlps, first class. Observation-Disclosures.
Battleships, second class Observation-Disclosures.
1unooats Il
Harbor defense ram Observation-Disclosures. j
monitors. OBSERVATION-DISCLOSURES.
Dynamite cruiser. ....................s..
Torpedo boats. observation-disclosures. g
Submarine torpedo boat. Observation-Disclosures.
Training ships for cadets.
Dispatch boat. ACKNOWLEDGEMENTS.
"Of the 16 ships Of war now under
construction the secretary Of the navy
estimates that all will be completed
during the present year except the five
battleships, which will probably not b.
ready for service until the latter part O.
the coming year. It is therefore obvious
that the United States is not so power
less upon the seas as some would have
it understood. The present navy, how
ever, should be rapidly REINFORCED by
the construction of other warships, 81
What pleasure is there in life with 9
headache, constipation and biliousness.
Thousands experience them who could
become perfectly healthy by using Dc