Gilpin observer., 1899-12-07
THE PRESIDENTS MESSAGE.
He Speaks Freely OF The Duty OF This
Nation TO Maintain Control OF The
Philippines, and Is Equally Frank
in FavorinS a Currency Sys-
lem Based Upon Gold.

VI iColuchl hCNlHley WIS uehNeTeu
TO Congress to-day. Below it is given
in somewhat condensed form:
ITO the Senate and House of Repre-
: Sentatives: At the threshold of your de-
ltberations you are, called to mourn with
ident Hobart, who passed from this life
on the morning of November 2lst last.
peace. His private life Was Il pure seimai and
elevated. while his public career was
asnssshsd anS nS exaiea Ee moeHe
he he has hash been en- removed removed from the high Of
lofty character, his devotion a1d to duty. " his his
honesty hone, ,tf Of purpose, and noble virtues re,
example.
= THE REVENUES.
The Fifty,sixth Congress convenes in
It's first regular session with the country
IN sendSn Rdna w 9f usual Of
pd with Il eyery Of as tRa
combined imports and exports of the
. for 1883 alone exceeded by more than a
combined in 1870. The imports per capita
are 20 per cent. less than in 1S7O, while
more than in PES $50 showns the pen enarsed
capacity of the United States to satisfy
ton % as Well l. as 81 to c contribute to those % Of
the peoples Of other nations.
EXpOrtS OF AGRICULTURAL products were
We exported in value Value ssss. 5ss l4s, Being being
sassT aat hs he ony years IS in
all our history when the products of our
manufactories, sold abroad exceeded those
bought abroad were 1898 and 1899 Gov
ernment receipts from all sources for the
fiscal al. year ended June 80. 1899, including
r Rasias indsbtsansss: 1 asEresateS g ed ssis, ,ss2l
ea.s5 Customs toIa receipts We're $500. l2s. 4sl.-
$273, 437, l61 81 For the fiscal year the ex-
penditures were 500, ,5s3 5e4.o2. leaving a
' essuy as ha hs the reasps 9s
for the ,s.o current aig zen fiscal year will aggre
sresent appropriations pI the @ expenditures @
M,l Sus q sSo eavng sa yss sar
enue receipts were Increased about sioO-
100000. The present gratifying strength
sss%sss lsss ST. aS9aRs fass sa
conditions Of confidence which prevail
Throughout the country have, brought
Teceipts are now almost entirely paid in
that coin.
CURRENCY QUESTIONS.
Increased activity in industry, with its
ment for labor at higher Wages. gives
to the body Of the people a larger power
further true that. year by year. with larg-
fer areas of land under cultivation, the
eoon os%s of snd
a larger volume of money supply. This
hnd as essp oSns ns at peros ie @ sae
history the national banking act seemed
to- to prove g., 4 reasSsnable s avenue, through
could from time to time be made. Chang
ing conditions have apparently rendered
/. resulting from large premiums which
ket or the tax on note issues; or both op-
Grating h together; P appear to be the intiu-
The % attention %P of Congress Rs Is respeetfuily
invited to this public matter with the
reasonabie s % medifieaiions s can Be Be ma made s in
the nation national banking ban act as will will f. render
ed so to the peepes
nneeds again urge that national ;t banks aI,s
support the existing gold standard and
to maintain the parity in value Of the
and the equal power OF every dollar al
an times a The market and IN IN, the pay
Cd win The duty to sen United states
means as may be necessary to these ends
The authority should include the power
Conditions co dit % may y" require. @ and should pro-
vide for a rate of interest lower than that
ssss fs X sss St Gs 7 h s has hs
Ssnts Ss Es ssa sssa ,bs soa as
the very fact, points the present as the
gold standard and OF public confidence in
ment e HG to meet t' all its obisations in the
money which the ciyilized world recog-
iions Of The, government are CONDUCTED
se HnS fos roa
for their Dayment. We maintaining
The parity OF ali the money Issued or
by aons these Of hssss hs he
means at hand, Happily; al the present
time. we are not compelled d. to re resort to to
in the past. however. and may have to
be done in. the future. It behooves us
means to meet the emergency when it
arises, and the best means are those
icai. Those now authorized. have the
virtue e neither dirse,neEs nd nor econ
the causes OF our financial position and
sa, Igs. during the gsias ss
equal syi 'oSi our @ Expenditures: deiieient rcve-
nues no longer crente alarm. Let us re-
move the only remaining cause by con,
the secretary OF the treasury and impose
upon him the duty to uphold the present
other which Is the repeatedly declared
nection ] repeat my former recommenda-
tion that n portion of the gold holdings
shall bc placed In trust fund from
witch grcenbacks shall he redeemed upon
presentation, hut when once redeemed
shall not thereafter be paid out except
for gold.
AMERICAN MARINE
'"rhc value of an American marine to
extend of commerce ana to strengthen
our power upon the sea invites the I'M,
mediate action of Congress, our national
development viii be onc-sided and un-
satisfactory HI Ion. as the remnrknhle
growth OF our inland Industries remains
unaccompnnlcd by, progress on the
seas. There II no lack OF constit utional
AUTHORITY for legislation which shall give
10 the country maritime strength com
mensuratc with It's Industrial achieve
ments and with It's rank among the ma