The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-12-08

Washington, December 5.-The presi-
dent today sent the following message
to congress:
ITO the Senate and House of Represen-
tatives:
AT the threshold of your delibera-
tons you are called to mourn with
your countrymen the death OF Vice
President Hobart. who passed from this
life on the morning of November 21st,
nal peace. His private life was pure
and elevated, while his public career
was ever distinguished by large capac-
ity. stainless integrity. and exalted
motives. He has been removed from
the high office which he honored and
dignified, but his lofty character, his
devotion to duty, his honesty of pur-
pose, and noble virtues remain with us
as a princeless legacy, and example.
THE COUNTRY'S GREAT PROS
PERITY.
The fifty-sixth congress convenes in
its first regular session with the coun-
try in condition of unusual prosperi-
ty, of universal good will among the
people at home and in relations of
peace and friendship with every gov
eminent of the world. Our foreign
commerce has shown great increase in
volume and value. The combined inn
ports and exports for the year are the
largest ever shown by a single year in
all our history. Our exports for 1899
alone exceed by more than a billion
dollars our imports and expOr :
combined i'm 1870. The imports per
capita are 20 per cent. less
in 1, lilo Nny-t- .ear
capita are 5S per cent. more than in
1870, showing the enlarged capacity Of
the United States to satisfy the wants
of it's increasing population, as we'll as
to contribute to those Of the people of
other nations.
Exports of agricultural products
were $.S4, ,776,142. OF manufactured
products we exported in value 1888, ,592,-
146 being larger than any previous
year. 1t is a noteworthy fact that the
only years in alf our history when the
products of our manufactures sold
aboard exceed those bought abroad
We're 1898 and 1899.
RECEIPTS AND EXPENDITURES.
Government receipts from all
sources for the fiscal year ended June
3Oth, 1899, including s11. 1.79s,31414, part
payment of the Central Pacific rail-
| road indebtedness, aggregated $780,
| 9S2, ,OO4.35. Custom receipts were $685.
| 28481.75, and those from internal rev.
enue s273 437, 1851. For the fiscal year
the expenditures were 500 093, ,564 OF,
| leaving a deficit OF $50, Ill, ,559.67.
The Secretary of the Treasury es-
Inmates that the receipts for the cur
rent fiscal year will aggregate $780,
95S, ,112. and upon the basis of the pres
will aggregate $500, ,958, ,112. leaving a
| surplus of $40, ,000, 900. For the fiscal
year ended June 80. 1899, the internal
revenue receipts were increased about
500, ,000, 900.
| STRENGTH OF THE TREASURY.
THE present gratifying strength OF
the treasury is shown by the fact that
on December /, 1899, the available cash
balance was $27S,O04,S3772. Of which
s239, ,744, ,90536 was in gold coin and bull
lion. The conditions Of confidence
which prevail throughout the country
have brought gold into more genera
use and customs receipts are now al
| most entirely paid in that coin.
| THE strong position OF the treasury
| with respect to cash ON hand and the
favorable showing made by the reve-
nues have made it possible for the Sec
retary of the treasury to take action
under the provisions Of Section 1884
| Revised Statutes, relating 70 the sink
| ing fund. Receipts exceed expenditures
| for the first five months OF the cur
rent fiscal year by s13, 3,413,3s9-91 and "a
| mentioned above, the secretary Of the
treasury estimates that there Will be
| surplus of approximately $40 100000 al
| the end Of the year. Under such con-
| dftfons. il was deemed advisable and
proper TO resume compliance with the
| provisions Of the sinking fund law
which for eight years has not been done
| because of deficiencies in the revenues
| The treasury department therefore
offered to purchase during November
81. .000, 900 of the per cent loan OF
| 1904. or the 4 per cent. funded loan on
1907 at the current market price. The
| amount offered and purchased during
| November was SIS. .40S. 500. The prem
| ium paid by the government on sucn
purchases was 81, 2,263.521 and the nei
/ saving In interest was about s2.ss5.oeO
/ The success of this operation was SUI
| ficient to induce the government TO con-
/ rinue the offer TO purchase bonds tc
| a nd including the 23rd day of December
| instant, unless the remainder OF the
| s25 600 600 called for should be presented
| In the meantime for redemption
INCREASED ACTIVITY IN IN
DUSTRY.
Increased activity in industry. with
it's welcome attendant-a large employ.
ment for labor at higher wages-gfve1
to the body of the people larger pow
er to absorb the circulating medium i
is further true that year by year. witt
larger areas Of land under cultivation
the increasing volume Of agriculture
| products, cotton, corn. and wheat, calls
for a larger volume of money supply
This is especially noticeable at une croI
harvesting and crop moving periods"
TO AMEND NATIONAL BANKING
LAWS.
The president refers TO the nationa