The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1899-12-14
N KIN[EY'S MESSAGE.
Features of the Annual State
Paper Of the President.
FUTURE OF THE PHILIPPINES.
President Places the Matter In Hands of
Congress-Suggestions AS to Government
of Porto Rico-First Steps Toward Free
Cuba-Tinancial Legislation.

of Porto NicO-First Steps Toward Free
Cuba-TinanciaI Legislation.
WASHINGTON, Dec. 5.-The presidents
message was read in congress today. III
part it is us foilows
To the Senate and House Of Representatives:
AT the threshold of your deliberations
you are called to mourn with your coun-
trymen the death of Vice President Ho-
bart, who passed from this life on the
morning of Nov 81. His great soul now
rests in eternal peace. His private life
was pure and elevated, while his public
career was ever distinguished by large Ca
pacity stainless integrity and exalted mo-
tives. He has been removed from the
high office which he honored and digni-
fed, but his lofty character, his devotion
to duty, his honesty of purpose and noble
virtues remain with us as priceless leg
acy and example.
The Fifty sixth congress convenes in it's
first regular session with the country in Il |
condition of unusual prosperity, of uni |
versal good will among the people at
home and in relations of peace and friend |
ship with every government of the world |
Our foreign commerce has shown great
increase in volume and value. The COM |
bined imports and exports for the year
are the largest ever shown by single
year in all our history. Our exports for
1899 alone exceeded by more than billion
dollars our imports and exports combined
in 1870. The imports per capita are 20 per
cent less than in 1870, while the exports
per capita are 5S per cent more than in
1870, showing the enlarged capacity of the
United States to satisfy the wants of it's
own increasing population, as well as to
contribute to those Of the peoples of other
nations.
Exports of agricultural products were
1874, 776 142. OF manufactured products,
we exported in value $3.50 592, 146, being
; larger than any previous year. 1t is a
noteworthy fact that the only years in all
our history when the products of our
manufactures sold abroad exceeded those
bought abroad were 1898 and 1899
Government receipts from all sources
for the fiscal year ended June 30, 1899, in
Guiding 81, 79S, 314.14, part payment of the
Central Pacific railroad Indebtedness, ag-
gregated 1910, 9S2, OO4.35. Customs receipts
were S2O6, 12S, rs and those from in
ternal revenue S273, 437, 161.51
For the fiscal year the expenditures
were 500, O93, 564.02, leaving a deficit of
$S9, III 55967.
The secretary of the treasury estimates
that the receipts for the current fiscal year
will aggregate s640, 95S 49, and upon the
basis of present appropriations the ex-
penditures will aggregate 5000, 95S, 1l2,
leaving surplus Of 100000.
For the fiscal year ended June 30, 1899,
the internal revenue receipts We're in
creased about S100000,000.
The present gratifying strength of the
treasury is shown by the fact that on Dec
l, 1899, the available cash balance was
S27S, GOA. S37. ~ of which S239, 744, sos SO was
II
of confidence which prevail throughout
the country have brought gold into more
general use and customs receipts are now
almost entirely paid in that coin
TreasurS's Good Showing.
The strong condition of the treasury
with respect to cash on hand and the
favorable showing made by the revenues
have made it possible for the secretary of
the treasury TO take action under the pro-
visions of section 1894, revised statutes,
relating to the sinking fund Receipts
exceeded expenditures for the first five
months of the current fiscal year by S13,-
413,3 81, and, as mentioned above the
secretary of the treasury estimates that
there will be a surplus of approximately
$40, 100000 at the end of the year. Under
such conditions it was deemed advisable
and proper to resume compliance with
Unc PROVISIONS OIL tne SlnhlHS luHu law,
which, for eight years has not been done
because of deficiencies in the revenues.
The treasury department therefore offered
to purchase during November s25,0OO,0OO
of the per cent loan of 1904 or the per
cent funded loan of 1907, at the current
market price. The amount offered and
purchased during November was SIS, 40S,-
e00 The premium paid by the govern
ment on such purchases was s., 263, 521,
and the net saving in interest was about
s., 1886, 900.
Increased activity in industry, with its
welcome attendant-a larger employment
for labor at higher wages-gives to the
body of the people larger power to alb
asorb the circulating medium. 1t is fur
Their true that year by year, with larger
areas of land under cultivation, the in
creasing volume of agricultural products
cotton, corn and wheat, calls for a larger
volume of money supply. This is espec
tally noticeable at the crop-harvestine
and crop-moving period.
In its earlier history the national bank
ing act seemed to prove a reasonable ave
nue. through which needful additions tx
the circulation could from time to time
be made. Changing conditions have ap
parently rendered it now imperative tt
that end The high margin in bond Sc
curities required, resulting from larg,
premiums which government bonds com
mand in the market, or the tax on note is
sues, or both operating together, appea,
to be the influences which il pair its pub
lie utility.
The attention of congress is respectful.
invited to this important matter with tn
view of ascertaining whether or not sucl
reasonable notifications can be made il
the national banking act as will rende
it's service in the particulars here referre'
to more responsive to the peoples needs
again urge that national banks be au
thorized to organize with capital o
$50, 600
Wants Gold Standard Protected.
urgently recommend that to supper
the existing gold standard and to mair
tain ''the parity in value of the coins c
the two metals lgald and silyerl and lib