The silver blade. (Rathdrum, Idaho) 1895-1903, 1899-12-09
The PRESIDENTS MESSAGE
A SYNOPSIS is HERE GIVEN.
Maintain the Gold Standard-Crush
AwuinaldO'n RebelliOn-Give Cuba
I.iberty-DevelOp Trade In China
Encourage Puerto RicO-Aid the
Merchant Marine.


Merchant Marine.
To .:le Senate and House of Representa-
ives:
At the threshold of your deliberations
YOU are called upon to mourn with your
countrymen the death Of Vice President
Hobart, who passed from this life on
the morning of November 21, last. His
great soul now rests in eternal peace.
His private life was pure and elevated,
while his public career was ever dis
tinguished by large capacity, stainless
integrity and exalted motives. He has
been removed from the high Office
which he hOnOred and dignifled by his
lofty character, but his devotion, his
honesty of purpose and noble virtues
remain with us as priceless legacy
and example.
The Fifty-sixth congress cOnvenes in
its first regular session with the coun-
try in a condition of unusual prosper
ity, of universal good will among the
people at home and relations 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 a single year in all our his
tory. Our exports for 1899 alone ex-
ceed by more than billion dollars our
imports and exports combined in 1870.
The imports per capita are 20 per cent
less than in 1870, while the exports per
capita are So per cent 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.
Exports of agricultural products were
3784,776,142. OF manufactured pro
ducts we exported in value $339, ,592, /, LAG,
being larger than any previous year
1t is a noteworthy fact that the only
years in all our history when the pro-
ducts of our manufactures sold abroad
exceeded those bought abroad were
1898 and 1899.
bank Account.
Government receipts from all sources
for the fiscal year ended June 80, 1899
including $11,798,314 part payment
of the Central Pacific Indebtedness, ag
gregated $61O,982, ,OO4.35; customs re
ceipts were $2O6, ,128, ,481.75, and those
from internal revenues $273, 3,437, 1851
The present gratifying strength oi
the treasury is shown by the fact thai
on December /, 1898, the available cash
balance was $278, 8,004, ,837.27, of which
$239,744, ,9O5.36 was in gold coin and
bullion. The conditions Of confidence
which prevail throughout the country
have brought gold into more genera
use, and customs receipts are now al
most entirely paid in that coin.
Need of Money.
Increased activity in industry wit
its welcome attendant-a larger en-
ployment for labor at higher wages
gives to the body Of the people large
power to absorb the circulating med
um. It is further true that year b
year, with larger areas of lands unde
cultivation, the increasing volume {
agricultural products, cotton, corn an
wheat, calls for larger volume
money supply. This is especially n
ticeable at the crop harvesting an
crop moving period.
In its earlier history the nation
banking act seemed to prove reaso
able avenue through which needful
ditions TO the circulation could fro
time to time be made. Changing co
ditions have apparently rendered
now imperative to that end. The hii
margin in bond securities required,
sulting from large premiums whl
government bonds command In
market, or the tax on note issues,
both operating together, appear TO
the influences which impair its pun
utility.
The attention of congress is respe
k.,NI lA~l - ~ fv,~v Arf0 NJ
with the view of ascertaining whetl
or not such reasonable modificatlt
can be made in the national bankl
act as will render its service in the
ticulars here referred to more resp
sive to the peoples needs. ag
urge that national banks be authori
to organize with capital OF $25,OOO
The Gold Standard.
urgently recommend that to 6
port the existing gold standard and
maintain the parity in value of
coins of the two metals (gold and
ver) and the equal power of every
lar at all times in the market and In
payment of debts the secretary OF
treasury be given additional power
charged with the duty to sell Un
States bonds and to employ such o.
effective means as may be necessar
these ends. The authority should
clude the power to sell bonds on
and short time, as conditions may
quire, and should provide for rat
interest lower than that fixed by
act of January IA, 1876. While t
Is now no commercial rights W
withdraws gold from the governn
but on the contrary such widesp
confidence that gold seeks the treas
demanding paper money in excha
yet the very situation points to
present as the most fitting time
make adequate provision to insure
continuance Of the gold standard
OF public confidence in the ability
purpose Of the government to NEE
Its obligations in the money which
civilized word recognizes as the
The financial transactions of the
ernment are conducted upon a
oasis. We receive gold where We
United States bonds and use gol,