The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1899-12-15
sM'KINLEY'o MESSAGE.
Synopsis Of His Annual Communi-
cation to Congress.

cation to Congress.
II Treats Exhaustively Of the Subjects of
Financial Legislation, the Trusts
ana the Affairs OF the Diff
ferent Colonies.
The following Is comprehensive synop-
SSS9ong g: which makes. in full. about 3d.
Of the Death 81 Vice wf Presdent Hobart
ana tribute to his worth FOLLOWING
that Is statement Of the prosperity IT.. which
= exports and imports for the year. in which
IS shown that we have ne eX SPpS re dur
~ , the year more than an sWeioV9 w. worth
exports and imports in 1870 Or the exports
Tor the past year ne says Iys ,,,o4a
in Value being iarEes
fact that the only years in all our history
sold abroad 1ssS d. exseeded those abroad
4 Government Receipts and Expenses.
q. He calls attention to the report Of the
( secretary of the treasury and his estimate
of the receipts and expenditures for the
$40, 100000, He points to the present graf
flying strength Of the treasury. and says
fn and o %a5 the Of fa We essH ss
1858 was in gold and bullion. Of the show
ing of the treasury he says:
the sca Ju1e 3d.
ing. s11, ,Sl4l4, part payment Of the Gen.
trsl Fsei{i 6, r al lnde6tedness agsre
s emu M ana those from internal rev.
SGs Sa Sep es yshr the agc Uf
The secretary Of the ne treasury si
9 will, aggregate s64o,e5S.112. and upon the
Ing suSplu Mi'e Of S4SeooeSo
For the fiscal year ended June 80, 1899, the
internal receipts were increased about
Resumption of Bond Purchases.
He notes the resumption of bond pur-
\ chases. and recomme nds important
m to WITH 20 eap
$4,000, and says:
The strong condition of the treasury
Vi made on by
4 have made it possible for the secretary
Of the to take ae Is, u1aer hi
Statutes. relating, to the, sinking. fund
Il Receipts exceeded expenditures. for the
first five months Nc At Of the current fiscal yea
the secretary, of the treasury estimates
that there will be surplus Of approx
Under Under such conditions it was deemed ad.
vsable and proper to resume compliance
with the provisions of the sinking fund
done because Of the deficiency in the rev.
enue. The, treasury department there.
Of he e per cen
% 1904, or the four per cent. funded loan OF
,a 1907 at the current market price. The
vember was slS,4OS,6o0. The premium paid
by the government on such. purchases was
ana he net r favng in Mt
operation was sufficient to induce the gov
eminent to continue to offer to purchase
day of December, inst, unless the re;
H., mainder Of the $25,OOO.oOO called for should
be in the euv tn oE W
ment Of labor at higher Wages, gives {
- vsorb the circulating mediIm: It is further
Of land under cultivation, The i5ereasine
wheat, calls for a larger volume of money
supply. This is especially noticeable al
ft it's History Seop baking
q e, through! which! needful additions to the
made. Changing conditions have .appar-,
emily rendered it now imperative to that
required. resulting from large premiums
which government bonds command in the
to the ax ee is be the
e1ses which impair is public utility: .e,,
The attention Of congress Is respectfully
view of ascertaining whether or not such
reasonable notifications can be made in in
service in the. particulars here referred to
more responsive to the peoples needs
t lied to organize with capital of $4,000.
t4 urgently recommend that to support the
~ existing gold standard, and to maintain
power of every, dollar at all times in the
4. secretary of the trea sury be given addi-
tional power and charged with the duty, to
I sell United States bonds and to employ
+ necessary to, these ends. The authority
should include the power to sell bonds on
= quire, and should provide for, rate Of in:
terest lower than that fixed by the act of
.>~ January IA. 1875.
an Time for Gold Standard.
~ He strongly recommends the adoption of
the gold standard, and on this subject says
s While there is now no commercial fright
which wlthdraws gold from the govern
ment. but, on the contrary, such wide
spread confidence that gold seeks the
treasury demanding paper, money In ex-
present as the most fitting time to make
adequate provision to insure the continu-
% ha n an ana p9e
government to meet all it's obligations in
r, the money which the civilized world recog-
nizes the best. The financial transac-
lions of the government are conducted
upon gold basis. We receive gold when
5 we sell United States bonds and use gold
parity of all the money issued or coined by
authority of the government. We are do
ing these things with the means at hand
Happily at the present time we are not
compelled to resort to loans to supply gold
IT has been done in the past, however, and
NAV have to be done in the future. 1t be
nnooves us. therefore, to provide at once
the best means to meet the emergency when
It arises, and the best means are those
which are the most certain and economical.
Those now authorized have the virtue
neither of directness nor economy We have
~ financial plight and embarrassment during
N the years 1893. 1894. 1895 and 1896. Our re-
ceipts now equal our expenditures: de-
e, fcient revenues no longer create alarm.
~ LET us remove the only remaining cause by
comforting the full and necessary power on
upon him the duty to uphold the present
W gold standard and preserve the coins of the
two metals on parity with each other,
H. which is the repeatedly declared policy of
In this connection I repeat. my former
recommendation that a portion of the
+ gold holdings. shall be placed in trust
R deemed upon presentations, but when once
redeemed Shall not thereafter be paid out
s except for gold.
A Merchant Marine Needed
w The value Of an American merchant ma
ssE rine to the extension of our commercial
trade and the Strengthening of our mower
upon the sea invites the immediate action