Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-12-06
WEDNESDAY. DECEMBER 6, 1899.
,nrs1nENT,s MESSAGE.

In his message. when was sent 10
oach house Of Congress yesterday, the
President says our country is in a con-
dltion of unusual prosperity and that
,boro ,s universal good Will at home
while we are i'm relations OF peace ana
friendship with every government OF the
world. He states that our foreign COM
merce is rapidly increasing, and he an
nounces that our combined exports ana
imports for the year are the largest for
such a period in all our history.
The deficit in our revenues for the last
fiscal year was about SSs0W,0oo but at
the present rate Of expenses there VIII
be this year a surplus of 100000. The
strong position Of the Treasury as to
cash in hand induced the administration
10 offer TO purchase S25. 100000 Of United
States bonds for the sinking fund.
good portion Of the bonds asked for have
been obtained.
The President recommends that ma
tionaI banks with a capital as low as
$1,000 be authorized. lie urges Congress
10 inquire whether or not such reason
able notifications can be made in the
national bank act as Will render its ser
vice more responsive TO the country's
needs" In view Of this recommendation,
and the banking bills which have been
framed by the Republican members Of the
Finance Committee, there is hardly any
room for doubling that at this session
of Congress the act in question will be
llberalized in several directions.
That the Secretary of the Treasury be
given ample authority TO maintain the
existing gold standard is another Of The
Presidents recommendations. For long
time Mr. Mckinley was very timd about
committing himself on this question.
but now he would have Congress give
the Secretary OF the Treasury enormous
power and have It charge him with the
duty Of selling United States bonds and
employing such other means as may be
effective TO support and maintain the OK
listing gold standard and the parity i'm
value of the two money metals, etc. The
President also renews his recommended
ton of a year ago that part Of the gold
from which greenbacks shall be redeemed
upon presentation. but when once re-
deemed shall not thereafter be paid out.
except for gold.
The Hanna-Payne ship subsidy bill is
indirectly favored by the President, in
a paragraph, in which he argues in favor
OF government aid for our merchant ma
rine. lie thinks encouragement of that
character is necessary to broaden our
commerce and widen our markets. We
doubt II II is at all necessary, but if 1t
IS. we do not believe it possible for Con-
gross to make such a distribution of pub
lie money without creating great
scandal.
On the subject Of trusts the President
has a good deal 10 say. In this matter
he is far more circumspcct than Mr..
Eanna WIS in some OF the speeches he
made in the Ohio campaign.
There must be. says he. remedy for
the evils involved in such organizations.
IL 1.-THE present law can be extended more
certainly 10 control or check these mono
police. or trusts. Il should be done with
out delay" he adds. And he thinks thi
what power Congress possesses on this
most important subject should be prompt
ly ascertalned and asserted. After re-
hearsing the sorry history Of the present
Federal law on the subject, the Presi-
dent recommends Uniformity Of legisla-
ton in the several StateA.
In short the President admits that he
sees the evil, but to correct it, he sug-
gests nothing really practical Congress
is In the hands OF his own party. He
knows what 10 expect from them--no-
thing! As FOR 1.-The several States" in
time they may come together with uni
form legislation. but. at present. New
Jersey and Texas. Tor instance, are far
apart.
The Isthmian Canal Commission is re-
ported to be still at work. The necessity
for an interoceanic canal Is reiterated
and emphasized.
Several of the German States continue
20 vex our countfymen who ship food
products there. The Germans are not
satisfied with our inspection laws. Nat
uraliy. they are alert on the subject OF
good. sound food, and in this case they
have local interests 70 protect. And then
too. we might suggest TO the President
that they are aggrieyed by our monstrous
tariff laws. Altogether, they are not In
very amiabe mood when they are