Spirit of the age. [volume] (Woodstock, Vt.) 1845-1913, 1899-12-09
THE PRESIDENTS MESSAGE.
To the Senate and House of Representa-

To the Senate and House of Representa-
tives:
at the threshold Of your deliberations
you are called to mourn with your coun-
trymsn the death Of Vice President Ho-
bart, who passed from this life on the
morning of Nov. y last. His great
soul now rests in eternal peace. His
private life was pure and elevated. while
his public career was ever distinguished
by large capacity, stainless integrity
and exalted motives. He has been re-
moved from the high office which he
honored and dignifed. but his lofty
character, his devotion to duty. his
honesty Of purpose, and noble virtues
remain with US priceless legacy and
example.
The Fifty-sixth congress convenes in
its first regular session with the coun-
try in condition of unusual prosperity.
Of universal good will among the people
at home and in rela tions Of peace and
friendship with every government OF the
world. Our foreign commerce has
shown great increase in volume and
value. The combined imports and ex-
ports for the year are the largest ever
shown by single year in all our his
tory. Our exports for 1899 alone eX-
cended by more than $1,000, 100000 our
imports and exports combined in 1870.
The imports per capita are 20 percent
less than In 1870, while the exports per
capita are So percent more than in 1870,
showing the enlarged capacity of the
United States to satisfy the wants of its
own increasing population, as we'll as to
contribute to those of the peoples Of
other nations.
The present gratifying strength of
the treasury Is shown by the fact that
on Dec. l. 1899. the available cash bal
ance was $27S,0O4 .S37.72, of which $239,-
44,905.36 was in gold coin and bullion.
The conditions of confidence which pre-
vail throughout the country have
brought gold into more general use, and
customs receipts are now almost entirely
paid in that coin.
1 urgently recommend that, to support
the existing gold standard, and to main
tain the parity in value of the coins
Of the two metals gold and silve), 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 means as may
be necessary to these ends. The au
thority should include the power to sell
bonds on long and short time as condi-
tions may require. and should provide
for rate of interest lower than that
fixed by the act of Jan. IA, 1873. While
there is now no commercial fright which
withdraws gold from the government.
but. on the contrary such widespread
confidence that gold seeks the treas
ury, demanding paper money in eX-
change, yet the very situation points to
the present as the most fitting time to
make adequate provision to insure the
continuance of the gold standard. and
Of public confidence in the ability and
purpose of the government to meet all
Its obligations in the money which the
civilized world recognizes as the best.
The financial transactions of the govern
ment are conducted upon gold basis.
The past year has recorded eXcep-
tional activity in our shipyards and the
promises Of continual prosperity in
shipbuilding are abundant. Advanced
legislation for the protection of our sea-
men has been enacted. Our coast trade.
under regulations wisely framed at the
beginning Of the government and since.
shows results fer the past fiscal year I'M
equaled in our records of those of any
other power. We shall fail to realize
our opportunities, however, IL We COM
placently regard only matters at home
and blind ourselves to the necessity of
securing our share in the valua BILE carry
ing trade of the world.
Combinations of capital organized
into trusts to control the conditions of
trade among our citizens are justly pro-
voking public discussion, and should
early claim the attention of the congress.
The industrial commission, engaged in
extended hearings upon the subject of
combinations in restraint of trade and
competition, have not yet completed
their investigation. The subject is one
giving rise to many divergent views as
to the extent of the injuries to the pub
lie which may result from large COM
binations concentrating more or less
numerous enterprises and establish
ments. 1t Is universally conceded that
combinations which engross or control
the market Of any commodity necessary
to the general community by suppress
ing natural and ordinary competition
whereby prices are unduly enhanced to
the general consumer are obnoxious not
only to the common law, but also to the
public welfare. There must be a remedy
for the evils involved in such organiZa-
lions. II the present law can be ex-
tended more certainly to control or check
these monopolies or trusts, it should be
done without delay.
The claim of the Austro- Hungarian
government for indemnity for the kill
ties at Lattimer Pa, while suppress
ing an unlawful tumult of miners, Sept.
10. 1897. in view of the verdict of ac-
quittal rendered by the court before
which the sheriff and his deputies were
tried for murder, has been declined.
1t is gratifying to know that the Bel
CLAN government has mitigated the re-
stricttons on the Importation of cattle
from the United States.
This government has maintained an
attitude of neutrality in the unfortunate
contest between Great Britain and the
Boer states of South Africa. The United
States representative at Pretoria was
early instructed to see that all neutral
American interests be respected by the
combatants. Upon the withdrawal of
the British agent from Pretoria the
United States consul was authorized to
exercise the customary good offices of
neutral for the care of British interests.
In the discharge of this functio oppor-
tunity has been afforded to show the i'm
partially of this government toward
both the comba tants.
My annual message of last year was
necessarily devoted to the results of the
Spanish war and the conditions it inn
posed for the future. The treaty of
peace has restored friendly relations be-
tween the two powers. The withdrawal
Of the authority of Spain from the island
Of Cuba was effected by the LIST of Janu-