The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1899-12-09
N MESSAGE RID
n CONGRESS
Hlty-Sixth House and Senate Lis
tengto the Presidents Rec
concentrations.
OUR PHILIPPINES OuTY PLAIN
OUR PHILIPPINES DUTY PLAIN
Must Crush lnsurrection and Es-
tablish Order future Rule
Rests With Congress.
TRUSTS AND MONETARY REFORM
National and s,nte legislatures
should Cooperate ii ltcxu-
late COMMUNICATION the
Gold Standard.

AASIlV . 1lSoSARC was eau III CUll ECSS
this afternoon:
To the Senate and House of Repre-
sentatiyes: At the threshold of your
deliberations you are called to mourn
with your countrymen the death of
Vice President Hobart, who passed
from this life on the morning Of No
yember 81 last. His great soul now
rests in eternal peace. His private life
was pure and elevated, while his pub
lie career was ever distinguished by
large capacity, stainless integrity, and
exalted motives. He has been removed
from the high office which he honorcd
and dignifed, but his lofty character,
his devotion to duty, his honesty of
purpose and noble virtues remain with
us as a priceless legacy and example.
The Fifty-sixth congress convenes in
Its first regular session with the
try ] : ccrditipn of unusual prosper
tty, 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 I'M
ports and exports for the year are the
largest ever shown BY u single year in
Rll our history. Our exports for 1899
alone exceeded our imports and eX-
ports combined in 1870. The imports
per capita are 30 per cent less than in
while the exports per capita are IS per
1870, while the exports per capita are
So per cent more than in 1870, showing
the enlarged capacity of the United
States to satisfy the wants of its own
Increasing population, as well as %
contribute to those of the peoples of
other nitrous.
Exports ofAagricnltural products
were 7s4,776,1 R OF manufactured
products we exporfsd-iHlyalue $780,
500. 146. being larger than any previous
year. II is a noteworthy fact that the
only years in all our history when the
products of our manufactures sold
abroad&exceeded those bought abroad
wereS1S9S and 1899:
Government receipts from all
ource for the fiscal year ended June
80, 1899, including $11, 79s, 3l4.14, part
OF the Central Pacific rail-
road Indebtedness, aggregated $780,
0S2,O04..35. Customs ,receipts were
$2O6. 12s, 4S1.75, and those from internal
revenue $273,437,161.514
For the fiscal year the expenditures
were $500, 093, sac leaving n deficit
of $s9,11l, 559.67.
The secretary Of the treasury esti-
mates that the receipts for the cur
rent fiscal year will aggregate $780,
Y5s,112, and upon the basis of present
appropriation the expenditures will
aggregate s600,o5s,112, leaving a sur
plus Of $%40,0oO,00O.
For the fiscal year ended June 80,
1909, the internal revenue receipts
were increased about 100000 1000.
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 S27s,O 04, s37.7s of which
Y $3.50, "A ,905. SO was in gold coin and
bullion. The conditions of confidence
which prevail throughout the country
have brought gold into more general
use and customs receipts are now al
most entirely paid in that coin.
The strong condition of the treasury
with respect to cash on hand and the
favorable showing made by the reve-
nues have made 1t possible for the Sec
rotary of the treasury to take action
under the provisions of section 1894,
revised statutes, relating to the sink
ing fund. Receipts exceeded expendi-
lures for the first five months of the
current fiscal year by $13,413,3S9.91 81,
and, as mentioned above, the secretary
OF the treasury estimates that there
will be u surplus of approximately
SAC, 000, 200 at theSend of the year. I'm
der Observation-Disclosures deemed adj
yisable and proper to resume compli-
ance with the provisions of the sink
ing fund law, which for eight years
has not been done because of the de-
ficiency in the revenue. The treasury
department therefore offered to pur-
chase acknowledgements $25, 000, 900 of
the S per cent loans of 1904, or, the 4
per cent funded loan of 1907, ut the
current market price. The amount Of
fered and purchased during November
WRsa$1s,40Ss60o. The premium paid by
the government on such purchases
was $2,,263,55f21 and the net saving in in
sterest was about $685., 900. The sue
cess of this operation was sufficient to
induce the government to continue
the offer to purchase bonds to and in
.Ihiding the 23d day of December,
Inst, unless the remainder Of the $685.
100000 called for should be presented
In the meantime by redemption.
y Increased activity in industry with
its welcome attendants-a large en-
%ployment of labor at higher wages.
gives to the body of people a larger
power to absorb the circulating me-
dunn. 1t is further true that year by
Year with larger areas of land under
cultivation, the increasing volume of
agricultural products. corn and
wheat, calls for a larger volume of
money supply. This is especially no.
ticeable at the crop harvests and
crop moving period.
IN its earlier history the national
banking act seemed to prove n reason
able avenue through which needful
additions to the circulation could
from time 10 time be made. Chang
Ing conditions have apparently rem
dered 1t o imperative to that end.
The high margin in bond securities
required, resulting from large prem
iuins which government bonds com-
sDand In the market, or the tax on
note issues, or both operating togeth-
ri, appear to be the influences which
impnir its public utility.
The attention OF congress is. respect
FULLY invited to this important mat
ter with the view of a%scertainipr
#whetherspr not such reasonable modi-
fcati6nx be made in the national
7BankiHg dct as win render its service
IN the particulars here referred to
more responsive to the peoples needs.
lls8again urge that national banks be
to organize with a capital
81 $4,000:
UPHOLD G0tD STANnARn