Willmar tribune., 1899-12-13
.Ml1''k1El.lNLEY'S ! 1 : M ESSAGE r..
Synopsis of His Annual Communi-
e. cation to Congress.
g ~
Treats Exhaustively of the Subjects Of
r. Financial Legislation, the Trusts
= and the Affairs of the Diff
- 1erent Colonies.

Gao words: +
eat Tns Il issaESsf s aEs q Vcs Yesas1 RoPss
and a.stributeE to his worth. /, Following
ta that Is statement,Gf which
It is shown that we have exported dur
8 ing the year more than 81, ,0o0, ,000, 900 worth
ns & ote ff e netp
Exports Of agricultural products were
ine4alas " iaress
that the only IN = al our Sistory
s sold absoad ,sSs exceeded those bought abroad
were AoSoS ana 1879. , a. :, II " s.
Govern nent Receipts and Expenses.
He calls attention to the report Of the
secretary M Of the treasury and his estimate ate
o present fiscal year, showing surplus of
.ooe, He points to the present graf
hand was s2s.oo4. .ss772. Of which s2ss. .744-
e05.s6 was in gold and bullion. OF the show
ing of the treasury he says: -
Government receipts from all sources for
ns : ao epssa psf ae nj taY Of he 'es!en cea
gated $50, ,9S2, ,O04:35 Customs receipts were
S2oS 12s 4s 4s1 Is Is "a and those from Internal rev.
559.6
q the he
will aggregate S640. .95S. .112. and upon the
basis; Of present approprt!aaJtllo9nnSs the ex-
ia ine Surplus Of ;4S,eo6,oeo. ''''''''liA' ''A'
Internal r1s H. receipts were increased about
Resumption of Bond sPurchases.
He notes the resumption of bond pur-
changes in the banking laws to allow ma :.
tional banks to organize with capital Of
The strong condition of the treasury
with respect to cash on hand and the
made It poss6e he
provisions Of section Il 1894, Revised
exeaedad to the nkn Se
first five months of the current fiscal year
by s13.433Ss.91. and, as mentioned above,
that there will be surplus Of approx
imately $4O.O00,000 at the end of the year.
Under such conditions it was deemed ad-
with the provisions of the sinking fund
law, which for eight years has not been
done because of the deficiency in the rev.
fore offered to. purchase during November
SO, ,o0o, of ths/five per cent, loans Of
1885, or the te per funded loan OF
vember was $18 40S, 600 The pre- MUM paid
by the government on such purchases was
was about s., $50, 900. The success of this
operation was sufficient to induce the gov
bonds s'tt to a and including the twentyethird
mai mainder Of the s25,ooo,oo 900 called for Should
ton. tic 'e 1ncreased activity in Industry M S With
%ent s %sfoT of aeor hgSer Wages ages
M sorb ons the crcaa % Is ting mediSm is fastsE h
. true that year by year with larger areas
OF land under cultivation, the increasing
wheat. calls for larger volume of money
supply. This is especially noticeable at
the crop harvests and crop moving period.
act seemed to prove a reasonable avenue
through which needful additions to the
eircnlat3onn could from time to time be
emily rendered it now imperative to that
end. The high margin in bond securities
WSich government bonds a1 command comm IN ths
market, or the tax on note issues, or both
operating together, appear to be the inf1u-
ences which impair its public utility
The attention of congress is respectfully
invited to this important matter with the
view Of ascertaining whether or not such
the nationa! banking act as will render its
service in the particulars here referred to
more responsive to the peoples needs. I
led to organize with capital 81 $4,000.
existing gold standard, and 70 Smaintain
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 beEgiven addi-
tional power:and charged with the duty, to
sell United States bonds and to employ
Tns
long and short time, as conditions may re-
ferest lover than that fixed ID BY the the act &C of Of
January IA. 1875. W
Time for Gold Standard.
He strongly recommends the adoption of
the Gd y and this
which withdraws gold from the govern
ment. but, on the contrary, such wide
change. yet the very situation points to the
present as the most fitting time to make
ance Of the gold standard and Of public
confidence in the ability and purpose Of the
government to meet all it's obligations in
nizes as the best; The financial transac-
tions of the government are conducted
E2a xad Fqa T Fo
for their payment. We are maintaining the
parity of all the money issued or coined by
ing these things with the means at hand.
Happily at the present time we are. not
compelled to resort TO loans to supply gold.
MAY ave efe be IN It be
@s %
Mheh sre sad as Sse
Those now authorized have the virtue
neither of directness nor economy. We have
ths years 1851 1884, iss ana 49, our
ceipts now equal our expenditures; de-;
Let us remove the only remaining cause by.
comforting the full and necessary power on
the secretary Of 9th the treasury ,y si and impose
gold standard and preserve the coins. OF the
which IS the repeatedly declared policy>oii
In this connection. I repeat my former
recommendation that a portion of the
gold holdings! shall be placed in a trust
deemed upon presenta ton. but. when once
redeemed shall not thereafter he paid out
except for gold. 80 aL.1l.t
A Merchant Marine. Needed. -.
The value Of an American merchant ma
,rine to the. extension Of our comm ercial
upon the sea invites. the Immediate action
Of congress, Our national development will
be one-sided and unsatisfactory so long as
.dustries remains unaccompanied BY prog
ress on the seas. s!Thersfis no lack Of con-
8s 70 aqtsosty 4h 5sr yeb
commensurate with its industrial achieve
ments and with its rank among the na- na
tiGhs The 81 ast YEAR has recorded
activity in our shipyards, and the promises
abundant. Advanced legislation iis for the he
Our coast trade. sunde sregule tienssWise-
!. IL framed at the beg Etnni ssa he fav-