Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1899-12-05
Ale*a'satis 4azetts,
Published DAILY AND TRI-wEEKLY AZ
Building. 80 D BIZ Prince q,
TERMS
THE PRESIDENTS MESSAGE.
President McKinley's message was

try IN condition of unusual prosperi-
ty, of universal good will among the
| people at home, and in relations OF
peace and friendsh p with every gov
ernment of the world. Our foreign
commerce has shown great increase lie
volume and value. The combined i'm
ports and exports for the year are the
largs st ever shown. The exports show
the enlarged capacity of the United
States 10 satisfy the wants of it's own il
creasing population, as we'll as to con
tribute to those OF the peoples of other
nations.
The government receipts from al!
sources for the fiscal year ending June
80, 1899, aggregated S610, $685. ,004 IS. For
the fiscal year the expenditures were
500 O93, ,564.O2. leaving deficit OF
$50, Ill $50 81.
The Secretary of the Treasury est-
mates that the receipts for the current
year will aggregate $640 .95S, ,ll2, leav-
surplus OF S40,000,000
The strong position Of the Treasury
with respect to cash on hand and the
favorable showing made by the rev
enues have made it possible for the
Secretary of the Treasury to take ac-
tion under the statutory provision re-
lating to the sinking fund. The Treas
usy Department therefore offered TO
purchase during November $25, 900, 900
OF the per cent. loan Of 1904. or the 4
per cent. funded loan of 1907, at the
current market price. The success OF
mis- operation was sufficient TO il
duce the government 10 continue
the offer 10 purchase bonds to ard
including the 23rd day of December,
unless the remainder OF the S25, ,00O 900
called ior should be presented in the
meantime for redemption.
again urge that national banks be
authorized 10 organize with capital OF
S25, 900.
| urgently recommend that to sup.
port the existing gold standard, and to
maintain 1.-The parity in value of the
coins of the two metals (gold and sil-
veI), and the equal power of every
dollar at all times in the market, and
in the payment of debts," the Secre-
tary of the Treasury be given addito, :
al power and charged with the duly to
II United States bonds, and 20 em-
ploy such other effective means as may
be necessary to these ends. The author
ity should include the power to sell
bonds on long and short time, as condi-
lions may require, and should provide
! for rate of interest lower than that
fixed by the act of January IA, 1875.
| While there is now no commercial
fright which withdraws gold from tbs
government, but, on the contrary, such
widespread confidence that gold seek S
the treasury demanding paper money
in exchange, yet the very situation
points to the present as the most fitting
| tue 10 make adequate provision to IL
sure the continuance of the gold stand
ard and OF public confidence in the abl- :
| ity and purpose of the government 10
meet all it's obligations in the money
which the civilized world recognizes
the best. The financial transactions ci
the government are conducted upon
gold ossis. We receive gold when we
sell United States bonds and use gold
for their payment. We are maintain
| ing the parity of ell the money issued
or coined by authority of the covert :
menf. We are doing these things with
the means at hand. Happily at the
nreseut time we are not compelled TO
resort to loans to supply gold. 1t has
been done in the past, however, ana
! nav have TO be done IN the future
II Sehooves us, therefore, to provide
at once the best means to meet tne
emergency when it arises, the oes'
means are those which are most certain
and economical. Those now autnorlz
ed have the virture neither of directness
nor OF economy. We have 81 .eady sim
mated ooe of s>he causes of our imam
cial plight and embarrassment durine
the wears 1898, 1894, 1895 and 1895
Our receipts now equal our expendi
lures; deficient revenues no longer crests
alarm. Let US remove the only remalu,
inc cause by comforting the full ano
necessary power on the Secretary o
the Treasury and impose upon him tne
dutv to uphold the present gold stanc'
ard and preserve the coins OF the two
metals on parity with eacn otner,
which is the repeatedly declared poncy
of the United States.
In this connection repeat my foImei
recommendation that portion OF tnt
cold holdings shall be placed 10 trus'
fund from which greenbacks shall ot
redeemed upon presentation, out wneI !
onoa redeemed shall not thereafter u
naid out except for gold. 49,
The President calls attention 10 the
fsot that last year American yesseA
transported ~ smaller share OF our e1
norts and imports than during any iol
mer year in our history, and states ina
he is satisfied that the judgement OF In'
country favors the policy OF AID 10 ou'
merchant marine. ,.:,o,
'' Tn regard to trusts the Presiden
ssvs. at is universally conceded that
combinations which engross or contro
the market of any particular kino o o
- - q tbe general community, by suppress
;ua " natural and ordinary competitiop
wber ,v eby prices are unduly enhanced ae;au' u
W. w. oaneral consumer, are obno1lou'
ot .ne onIy to the common law. but als'
tot to the public welfare. II the pres p.eset =,
1sw can be extended more certainly ~ -
nomtrol COW or check these monopoAeS - y
trusts it should be done without oe
lay" .on canal ths
} President says: "The Isthmian oana
q nm s,on is now carrying on s ca
sma,ious in Nicaragua along the roa.'
os tho p mans canal, and in Darle'