The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1899-12-08
AFFAIRS OF STATE.
The President Transmits His An
nual Message to Congress.
Urges IN Extension OF P0Wers OF National
Banks and Pron0unces for the Gold
staudsrd-C0Dditi0ns In New C0loni-
M Possessions Dwels Up0A.

Washington, Dec. 5.-President Nc
Kinley to-day transmitted the follow
ing message to the Fifty-sixth con-
Eress:
To the Senate and House Of Representatives:
At the threshold Of your deliberations you are
called to mourn with your countrymsn the death
OF Vice President Hobart who passed from life
on the morning Of N, vember q last His good
soul now rests in eternal peace. HIS private
life was pure and elevated, while his public
career was ever dist nguished by large capacity,
stainless integrity. and exalted motives. He
has been removed from the high ONCE which he
honored and dignifed but his lofty character,
his devotion to duty, his honesty Of purpose.
and noble virtues remain with US, as priceless
legacy and example.
A. to tho Country's Condition.
The Fifty-sixth congress convenes in its first
regular session with the country in condition
of unusual prosperity, OF universal good will
amCng the people at home. and In relations OF
peace aud friendship 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 in a sin lie year In all our
history. Our exports for 1899 alone exceeded by
more than 81, On OOOO 60 our imports and exports
combined in 1870. The imports per capita are
20 per cent. less than In $780, while the exports
per capita are So per cent more than In 1870.
showing the enlarged capacity o. the United
ing popula tion as well as to contribute to those
OF the people Of other nations
Exports of agricultural products were S764.-
776I4 OF manufactured products we exported
in value 1899 .l46. being larger than any pre-
vious year. 1t Is q noteworthy fact that the
only years in all our history when the products
OF our manufactures sold abroad were 1893 and
1899. Government receipts from all sources for
the fiscal year ended June 3D. 1899, including
Oh, 798, 314 IA, part payment OF the Central Pa
2fio rail Indebtedness nOprQOatQ6
OO4.35. Customs receipts were $2O6. l2s, 4S1.75.
and those from internal revenue, $273 4S, 1871 81.
For the fiscal year the expenditures were ST.
Cos 564.0., leaving deficit of U.s., l1155967. The
secretary of the treasury estimates that the re-
ceipts for the current fiscal year will aggregate
t64O, 95S, 1l2 and upon the basis OF present ap-
preparations the expenditures will aggregate
$500, 958, 1l2 leaving o surplus Of 81 100000.
For the fiscal year ended June 81, 1899, the
internal revenue receipts were increased about
Sl0O. 900 900. The present gratifying strength of
the treasury is shown by the fact that on De-
cember I, 1899, the available cash balance was
e27S, 04 ,S3772. Of which S239, 744,9 5.36 was in
gold coin and bullion The conditions Of conf
dence which prevail throughout the country
have brought gold into more general use aud
Gus toms receipts are now almost entirely paid
in that coin.
Increased activity in industry. with its well
come attendant-a larger employment for labor
at higher wages-gives to the body of the people
q larger power to absorb the circulating me-
dunn. It is further true that year by year. with
larger areas OF land under cultivation the in
creasing volume Of agricultural products, cot
ton. corn and wheat calls for q larger volume
Of money supply.
The National Banking Act.
In its earlier history the national banking act
seemed to prove a reasonable avenue through
which needful additions to the circulation could
from time to time be made. Changing condi-
lions have apparently render ID it now inopera-
tive to that end TIE high margin in bond Sc
curities required resulting from large premi-
umS which government bonds command in the
market or the tax on note issues, or both oper
ating together, appear to be the influences
which impair its public utility.
The attention Of congress is respectfully in
vited to this important matter with the view of
ascertaining whether or not such reasonable
notifications can be made In the national
banking act will render its service In the par
ticularS here referred to more responsive to the
peoples needs again urge that national banks
be authorized to organize with q capital OF S25,-
Co.,
For the Gold Standard.
urgently recommend that to support the ex-
listing gold standard, and to maintain 1.-THE par
ity in value of the coins of the two metals (gold
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
given additional power and charged with the
duty to sell United States bonds and to employ
such other effective means Us may be necessary
to these ends. The authority should include
the power to sell bonds on long and short time
Is conditions may require and should provide
for q rate Of interest lower than that fixed by
the act of January IA, 1878 While there is now no
commercial fright which withdraws gold from
the government, but, on the contrary, such
widespread confidence that gold seeks the
treasury demanding paper money in exchange,
yet the very situation points to the present as
the most fitting time to make adequate provi-
sion to insure the continuance of the gold stand
ard and Of public confidence in the ability and
purpose Of the government to meet all its obli-
cations in the money which the civilized world
recognizes as the best The financial TRANSACT
tions of the government are conducted upon q
gold basis. We receipt gold when we sell United
States bonds and use gold for their payment.
We are maintaining the parity Of all the money
issued or coined by authority Of the govern
ment. We are doing these things with the
means at hand Happily at the present time we
are not compelled to resort to loans to supply
gold. It has been done in the past, however,
and may have to be done in the future. It be-
hooves US, therefore, to provide at once the best
means to meet the emergency when 1t arises.
and the best means are those which are the
most certain and economical. Those now au-
thorized have the virtue neither Of directness or
economy. We have already eliminated one of
the causes OF our financial plight and embar-
rassment during the years 1893, 1894. 1895 and
1895. Our receipts now equal our expenditures;
deficient revenues no longer create alarm. Let
US remove the only remaining cause by confer
ring the fun and necessary power on the secre-
tary OF the treasury and impose upon him the
duty TO uphold the present gold standard and
preserve the coins Of the two metals ON Q parity
with each other. which Is the repeatedly de-