The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-12-06
The Presidents Message.

accordance with the requirement OF tho
Constitution that he give to the Congress
Information OF the state OF the Union and
its recommendations are likewise simple
and direct In form suggestive rather than
Argumentative. The subjects Of prime
Importance with which 1t deals concern, of
course, the national currency and finances
and the problems introduced az the conse-
quence Of our successful war with Spain.
The President Is able to report most
encouraging financial and industrial con-
dition Of the Republic. Our foreign COM
merce during the year has been OF nm un-
e1ampled volume, the combined imports
and exports being the largest OF any single
year In our history. He calls attention to
the gratifying circumstance that 1898 and
] 500 were the only years in all our history
when the products OF our manufactures
sold abroad exceeded the foreign products
bought. The expenditures OF the Gov
eminent for tho fiscal year exceed tho
receipts by little more than eighty-n'n"
millions, a very satisfactory result, con-
siderlng the condition OF war; but surplus
OF forty millions is estimated by the Sec
rotary OF the Treasury upon the basis Of the
present appropriations. The strength OF
The Treasury Ia shown by the fact that on
tho first OF this month the available cash
balance was s27s, oo4, S37.72, OF which
$3.50, 744. 9o5.36 was In gold coin or bull
lion. Moreover. during tho first five months
OF the current fiscal year receipts exceeded
expenditures by nearly thirteen and a half
millions. Accordingly. the Secretary was
enabled to offer to purchase bonds. under
the Sinking Fund law. which for eight
years before had not been done because Of
deficiencies In revenues. The Nation has
resumed It's old prosperity and In
creased it.
The Presidents recommendations as to
the currency are few and simple lie
urgently recommends that the Con-
gross give the Secretary Of the Treasury
power to sell bonds aud to employ such
other effective means as may be necessary"
n support the exciting gold standard"
He also repeats his former recommends
tions that part OF the gold holdings shall
be placed In a trust fund FOR the redsmr-
tion OF greenbacks on presentation, the
greenhacks thereafter not to be paid out
except for gold. He suggests TO Congress
indefinitely whether or not sucn reason
able modiAo lions can be made in the
National Banking Act as viii render its
service more responsive to the peoples
needs" but he positively urges that ma
tlonal banks be authorized to organize with
n capital OF s25 ooo.-
The President is heartily and emphat-
ically in favor OF eglslation for the develop
ment OF an American merchant marine. on
the ground that there ts full constitutional
authority for It, and he invites the "imme-
diate attention" OF Congress To the subject
Of the Importance OF measures 10 secure
"our share In the valuable carrying trade
OF the world :" an In the strengthening Of
our power upon the sea, the Circumstance
that last year. foremost In our commercial
record, American vessels transported
smaller share OF our exports and imports
than In any previous year Of our history
furnishing painful evid nee OF tho measure
OF our dependence on foreign shipping. The
other great nations have used such means,
and the Pres dent Is Satisfied that the
judgment Of tho country favors the poll
OF aid to our merchant marine
As to trust. he declares that "ir the
present law can be extended more certainly
to control or check thee monopoles or
trusts, it should be done without delay"
and that whatever power the Congress-
possesses ov r this most important subject
should be- promptly ascertaiued and
asserted Meantime. the tatutelrelating
to trusts already enacted has been enforced
and prosecuted vigorously. Uniformity IN
State legislation as to the matter IL urged as
n coincident necessity, supplemented by
such Legislation OF Congress, within the
limits OF It's Constitutional powers, as will
make n complete system OF laws through
out the United States adequate to the end.
Practically. therefore. he turns over the
whole question to Congress-.
Congress. by It's Joint resolution OF April
10. 1893, having dlsclaimed any dlsposi-
ton or intention to exercise sovereignty,
jurisdiction or control over Cuba, except
for It's paoifcation. with q view to turning
over the government OF tho island to It's
own people, the President takes the ground
that this honorable obligation ." must be
sacredly kept" Accordingly, all tho ad-
ministrative measures adopted In Cuba
have had that end strictly IN view.
Whether, when the new Cuba" arises. the
ties binding IL to us "shall DO organic
or conventional is for the future to
determine, In the ripeness Of events"
When the results OF the census or
the island, lately taken, shall be tabulated.
elections. under which tho municipal gov
ernments will be committed to the inhahi-
tants will be provided, and the experience
thus acquired by them twill prove OF great
value In the formation OF representative
convention OF the people to draft consti-
tuition and establish a general system of
independent government" BY the treaty
of peace with Spain the Spanish population
have until April II. next year, to elect
whether they shall continue in allegianceto
Spain or become citizens OF Cuba.
Tho time having become ripe for the
adoption OF temporary form OF govern
ment for Porto Rioo, the President recon-
monds legislation to that end, more
especially with reference to public admin
istration and the relations OF tho island
TO the Federal Government" AS Porto
Rico lost her free interoourse with swain