Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1899-12-05

government to meet all its obligations in
as rhs TsFa
tions of the government are conducted
upon gold, basis. We receive gold when
Tor their payment, We are maintaining min s the
farity 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.
1t has been done in the past, however, and
hooves. us, therefore, to provide at once
the best means to meet the emergency when
1t arises, and the best means ere those
Those now authorized have the virtue
neitherof directRess nor economy. We have
already eliminated one of the causes Of our
the years 1893. 1894, 1895 and 1896 Our re-
ceipts now equal our expenditures; de-
ficient revenues no longer create alarm.
comforting the full and necessary power on
the secretary of the treasury and impose
upon him the duty to uphold the present
two metals on parity with each other.
which is the repeatedly declared policy OF
the United States.
recommendation that portion Of the
gold holdings shall be placed in a trust
fund from which greenbacks shall be re-
deemed upon presentation, but when once
redeemed shall not thereafter be paid out
except for gold.
Merchant Marine Needed.
The value of an American merchant ma
fine to the extension of our commercial
trade and the Strengthening of our power
upon the sea invites the immediate action
of congress. Our national developments will
be one-sided and unsatisfactory SO long as
the remarkable growth of our inland in
lustries remains unaccompanied by prog
ress on the seas. There Is no lack of con-
stitutional authority for legislation which
shall give to the country maritime strength
commensurate with its industrial achieve
ments and with its rank among the ma
tons of the earth.
activity in our shipyards, and the promises
of continual prosperity in shipbuilding are
abundant. Advanced legislation for the
protection of our seamen has been enacted
Our coast trade, under regulations wise
ly framed at Inc beginning of the gov
eminent and since, shows results for the
past fiscal year unequaled in our records
or those of any other power. We shall fail
to realize our opportunities, however, If
we complacently regard only. matters at
home and blind ourselves to the necessity
of securing our share in the valuable car
rying trade of the world.
Our Dependence ON Foreign Shipping.
Last year American vessels transported
a smaller share of our exports and imports
history, and the measure of our depend
ence upon foreign shipping was painfully
manifested to our people. Without any
choice of our own, but from necessity. the
departments Of the government charged
with military and naval operations in the
East and West Indies had to obtain from
foreign flags nserchant vessels essential
for those operations.
The other great nations have not hesi-
tated to adopt the required means to de-
yelop their shipping as a factor in nation
al defense and as one Of the surest and
speediest means of obtaining for their
producers share In foreign markets.
Like vigilance and effbrt on our part can
not fail to improve our situation. which is
regarded with humiliation at home and
with surprise abroad. Even the seeming
sacrifices, which at the beginning may be
involved, will be offset later by more than
equivalent gains.
Industrial Progress at Stake.
The expense is as nothing compared to
the advantage to be achieved. The re-
establishment of our merchant marine in
wolves in a large measure our continued
industrial progress and the extension of
our commercial triumphs. / am satisfied
the Judgment of the country favors the
policy of aid to our merchant marine.
which will broaden our commerce and
markets and upbuild our sea carrying
capacity for the products of agriculture
and manufacture: which, with the increase
of our navy, mean more work and wages
to our countrymen, as well as safe
guard to American interests in every part
of the world. - - =.