The evening times., 1899-12-05
TUESDAY. DECEMBER 5. 1899.
A Grent State Paper.


The message of the President of the
United States 10 the Fifty-sixth Congress.
presented and read in the Senate and House
of Representatives today, is a document
which will live in history as one of the
ablest as well as one of the most interest
ing and voIumirous state papers which has
ever emanated from the Executive Mansion.
On the strength of such hasty glance at
its recitals, arguments, and recommended
tions as we have been able TO give it since
the text was given TO the press this morn
ing, we are much inclined TO call it a great
message. We have no doubt whatever that
it is truly and fully SO in many respects.
OF course it is impossible not to note
and to regret the radical change of faith
and opinion shown by President Mckinley
in his remarks urging the Congress TO
fasten the single gold standard collar on
the necks of the American people But We
are charitable enough to remember that il
would have been impossible for him to
stand out against the whole power of his
party as the one bimetallist among its
controlling men. Sure, Paris was worth a
mass" said Henry ", in explanation OF
his detection from Professionalism. In much
the same way MIR Mckinley may regard a
second term in the White House as COM
pensatory for a departure from the princi-
ples and pledges of an earlier day. There
is much humanity in all of us. and on this
particular occasion The Times will not
volunteer to cast the first stone
The President congratuiates Congress on
the prosperous state of the country, on the
fact that the combined exports and i'm
ports of the year past have been greater
than in any year of our history. He says:
Our exports for 1899 alone exceeded by
more than billion dollars our imports and
exports combined in 1870. The imports per
capita are twenty per cent less than in
1870, while the exports per capita are fifty
eight per cent more than in 1870, showing
the enlarged capacity of the United States
to satisfy the wants of its own increasing
population, as well as to contribute to
those of the peoples of other nations" Mr..
Mckinley is entitled to feel and to express
high degree of qualification and thank
fulness for a condition of progress and
prosperity which results from the revivify-
ing effects of a national war undertaken
for humanity. which reunited the country
in the bonds of a common noble purpose
and brotherhood. and which brought the
United States at one bound from a condi-
tion of remote provincialism to the status
of great imperial world power.
The strength of the Treasury is COM
mented on with evident pride. The deficit |
for the fiscal year amounted to sS9,111,-
559.67. The Secretary Of the Treasury es-
Inmates that at the end of the ensuing fis-
cal year this will be changed to a surplus
of $4O,000,000 On December 1, 1899, the
available cash balance in the Treasury was
$27s O01, SS7.72, of which s239, ,744, ,se5 Sc was
in gold coin and bullion. The November |
bond purchases for the sinking fund, |
amounting to 1s,40s, 900, are referred to-
The premium paid aggregated $2263.521,
and the saving Of interest was about ST. |
$4,000. Congress is asked to amend the
National Banking act SO as to permit the
organization OF banks with capital of |
$25,0 600, the present minimum being $50, 900.
Mr.. Mckinley strenuously urges that ito |
support the existing gold Standard the
Secretary of the Treasury be vested with |
discretionary power to sell United States
bonds and to employ other means to the
end. while there is now no COM
mercial fright which withdraws gold
from the Government - the
situation points to the present
as the most fitting time to make adequate
gold standard" The intelligent reader will
not fail to remember that the Bank OF /
France for long years maintained parity in
a much more scientific and effective way
than that of giving a finance minister un-
limited power to increase the national debt |
at will; but We shall not discuss the matter
here.
Encouragement and aid for the Ameri-
can Merchant Marine is recommended, and
the humiliating conditions which call for
reform are referred to. This is a question
as to which means and not ends will give
rise to difference of opinion.
The question of legislation in restraint
Of trusts is treated at some length and in
apparent agreement with popular views on
the subject. The recent decision Of the
United States Supreme Court in the Ad-
iyston Pipe Trust case, seems to render it
possible for Congress to place a strong
check upon the growth of combinations in
restraint Of trade, without much difficulty.
The message on this topic appears to have
he true ring and 1t would be hardly fair ;
o throw doubt on its bona fides. II
The section devoted to foreign relations
S interesting. 1t tells OF various wars,
.evolutions. and 50 on. among our Amer
can neighbors. sundry commercial agree
nents and treaties; refers to the Nicarau-
qua Canal project and the confusion OF 9
lights and interests under concessions from '
hat state. and renews former representa-