The Van Buren press., 1899-12-09
DOMESTIC AFFAIRS.
The Country Prosperous.

The fifty-sixth congress convenes in III
hrst regular session with the country II
condition of unusual prosperity, o
universal good will among the people a
home, and in relations of peace ant
friendship with every government of th'
world. Our foreign commerce has shown
great increase in volume and value. Tht
combined imports and exports for the
year are the largest ever shown by
single year In all our history:
Agricultural Exports.
Exports of agricultural products were
$7S4, ,142 OF manufactured products WI
exported In value $3.50, 592 lag, being larger
than any previous year. 1t is a notewor-
thy fact that the only years in all our
history when the products of our manu-
factories sold abroad exceeded those
bought abroad were 1898 and 1888
Receipts and Expenditures.
Government receipts from all sources
for the fiscal year ended June 80, 1883
including S11, f9S, ,314. IA, part payment of the
Central Pacific railroad indebtedness, ag-
gregated $6l0, $50, 04.S5., Customs receipts
were $206, 1928, 4S1 rs, and those from inter-
nal revenue 1913, 4S7, ,16l.5l.
For the fiscal year the expenditures
were 500, 09S, 564.02, leaving a deficit OF
$751; III, ,559.67.
Strength of the Treasury.
The present gratifying strength of the
treasuiJ is shown by the fact that on
December 1, 1899, the available cash bal
ance was $27S, ,004, ,S37.72, of which s239 ~
s05 sc was in gold coin and bullion. ''he
conditions of confidence which prevail
throughout the country have brought gold
into more general use and customs re-
eeipts are now almost entirely paid In
that COIN
The strong condition of the treasury
with respect to cash on hand. and the
favorable showing made by the revenues,
have made 1t possible for the Sec
fetary of the treasury to take action IN
der the provisions of Section 1894 Revised
Statutes, relating to the sinking fund.
Receipts Exceeded Expenditures.
Receipts exceeded expenditures for the
FIRST five months of the current fiscal year
by Sl3 413, 3S99l, and, as mentioned above,
the secretary of the treasury estimates
that there will be surplus of approXi-
mately $4,000, 900 at the end of the year.
Under such conditions 1t was deemed ad-
visabe and proper to resume comph-
ance with the provisions of the sinking
fund law which for eight years has not
been done because of deficiencies in the
revenues.
To Support the Gold Standard.
urgently recommend that to support
the existing gold standard. and to mai1-
tain 1.-The parity In value or the CONS
ef the two metals tgold and silver and
the equal power of every dollar at all times
in the market and in the payment of
debts" the secretary Of the treasury be
the duty to sell United States bonds and
to employ such other effective means as
may be necessary to these ends. The au-
thority should include the power to sell
bonds on long and short time as con
ditions may require, and should provide
for rate of interest lower than that
fixed by the act of January, H. 1875.
Maintaining the Parity.
We are maintaining the parity of all the
money issued or coined by authority Of
the government. We are doing those
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 may
have to be done in the future. 1t be-
hooves us, therefore, to provide at oace
the best means to meet the emergency
when 1t arises and the best means are
those which are the most certain and
economical.
American Merchant Marine.
The value of an American merchant
marine to the extension of our commercial
trade and the strengthening of our power
upon the sea invites the immediate action
of congress. Our national development
will be one-sided and unsatisfactory so
long as the remarkable growth of our
inland industries remains unaccompanied
by progress on the seas. There Is no
Lack of constitutional authority for legis
lation which shall give to the country
maritime strength commensurate with its
Industrial achievements and with its rank
among the nations of the earth.
Combinations and Trusts.
Combinations of capital organized into
trusts to control the conditions of trade
among our citizens, to stifie competition,
limit production and determine the prices
OF products used and consumed by the
people, are justly provoking public dis
cussion and should early claim the at
tention of the congress.
Important and Far-Renchins.
The whole question is so important and
far-reaching that l am sure no part Of it
will be lightly considered, but every
phase of 1t will have the studied delibera-
ton of the congress, resulting in wise and
iudicious action.