Oxford eagle. (Oxford, Lafayette Co., Miss.) 1876-current, 1899-12-14
FINANCIAL CONDITION.
Our tommeree show. Great increase
Mann ~ snds the f.nla stsndsra.

Inc country y IN condition ~ unusual
prosperity. u universal good will among
the pennl. at home and Ia relations OF
peace and friendship with every govern
tn"nt In the world. Our foreign commerce
has shown great Increase Combined Inn
ports ARE the largest ever shown by SIM
Eie year in all our history. For ts9 alone
they eNcesiei by more than s. 80 go 20
our imports and exports combined Ia ls-n
90 manufactured products ~" exported
- -. 81. The only years Ia all our his
iory Nh"n the ducts ~ our manu-
factories sold abroad exceeded those
bought abroad we're ise ana fNJ9
Government receipts. Including 81 b.
-. 5ittt part paym.ut - the ccntral Pa
.inc railroad indebtedness. aggregated
tiu.ss2 - b. Customs receipts were !.fi-
IL, isi .. and those from internal revenue
acre 80 -. ifi %
For the fiscal year the expenditures
s.rs flr.s V. leaving deficit Of -,
III 50 -.
The secretary % the treasury estimates
that the receipts for the current nsrnl
yesr Will leave surplus % So ps.ap0 For
the year ended June 30 lsss IN. internal
revenue receipts were Increased about
Slpg. so 90
The present gratifying strength os TIE
treasury b. shown by IN. fact that on De
cember ]. isr. the available cash bal tute
was tgls.Q0t ,31.52. ~ which 81 ~ 40 3a
was IN gold coin and bullion. customs re-
ceii's are now almost entirely paid In
goi4.
Receipts exceeded expenditures Tor the
first i've months 10 tho current nscai year
by 81 az. - u. and the secretary OF IN.
treasury "stimatea that Their. will b. a
surplus 81 ~. es go az the end Of the year.
II was deemed advisable 10 resume com
pliance with the sinking fund Law. ig-
nored Tor eight years because u dehci"n-
cies The treasury department purchased
during November IS tls. 80 Of bonds. ma
turing l-9t and 1877
The premium paid Wss 9. SO 81. and the
net saving In interest was about s. .si NsH.
Increased activity In Industry. with lts
IHtHF HHaHH mo q
for labor at higher wages. gives TO th..
body ~ the people "a larger power to alb
Eorb the circulating medium Congress a
invited To- ascertain whether or not sues
reasonable notifications can be made Ia
the national banking act as will render It's
service more responsive t. the people :
needs The president again urges that ma
upuAl banks be authorized to organize
with capital u - ~" and that tn
support the existing gold standard ami to
maintain the parity In value Of the coins
% gold and silver and the equal power 81
every dollar tn the market and In the pay
meut 81 debts. the secretary % the treas
ury be charged with the duty 10 sell Unit
81 States bonds and to employ such other
enc tiVe means as may b. necessary Ca
these ends. While there - now no COM
merciaI fright, the present IL the most
ntiug time to make adequate provision "a
insure the continuance % the confidence
In the ability and purpose OF the govern
msnt To meet all It's obligations Ia tha
money which tho civilized world. go
nizes as the best fet0s
The financial tIanse.
eminent are ,f"rs ., ,e,''n .' OF the soF,
gold W president says We receive.
and tsf..en We sell United States boud.
gold for their payment. We arc
.aaintaining the parity Of all the money
issued or coined by authority Of the gov
eminent. We are doing these things with
the means at hand Happily at the pres
- loans to supply gold IL may have bad
20 b. done IN tho future. II behooves Is.
therefore. to provide at once the best
means % meet the emergency when 70
Areses. Those now authorized have the
virtue neither % dfrecfnssS nor economy
In this connection. ] repeat my former
recommendation that "A portion IT the gold
holdings shall be- placed In trust fund
from which Ereenhaeks shall be redeem sl
upon presentation. hut when once Re
deemed shall not thereafter be paid out
except for gold %
The value u an American merchant ma
rim. to the extension Of our commercial
trade and the strengthening of our pow 1
upon the sea invites the immediate action
Of congress.
The past year has recorded exceptionA
activity In our ship yards. our cnas
trade show. results for the past veal
uuequaled In our records or those OF an,
other power. We shall fail to reatfx.
our opportunities. however. II We bin,
ourselves TO the necessity or securing oui
share In the valuable carrying trade oI
the world.
Last year American vessels transportet
smaller shar" 81 our exports and I'M,
ports than during any former year In Al
our history. the president saws and IN.
measure % our dependence upon foreign
shipping Was painfully manifested to otli
people. The other great nations have moi
heSttated 10 adopt the required means
To develop their shipping as a factor NJ
national defense, and. as one OF the surssi
and speediest means OF obtaining for thail
producers "A share In foreign markets
Like vigilance and effort on our part car
not fail to improve our situation, whfcf
l. regarded with humiliation at HON,
and with surprise abroad. Even the seem.
Ing sacrifices which at the beginning ma,
be involved will BE- offset later By NOR,
than equivalent gains. I am satisfied IN
Judgment Of the country favors the policy
OF aid 10 our merchant marine