Northern Wisconsin advertiser. [volume] (Wabeno, Wis.) 1898-1925, 1899-12-14
Cuba To
Be Free /!
Declares the President in
His Message.
No Abandonment OF the
Philippines.
Currency and Many Other
Matters Discussed.

washington, Dec 5.-The presidents |
message was read to both houses of
congress today, and is very long. At
the outset touching allusion is made
to the death of Vice President Hobart,
whose great soul now rests in eternal
peace" Continuing the president notes
that the country is in a condition of
unusual prosperity, of universal good
will among the people at home, and n
relations of peace and friendship with
every government of the world. Our
foreign commerce has shown great in
crease in volume and value. The COM
bined imports and exports for the
year are the largest ever shown by a
single year in all our history. Our ex-
ports 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 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
well as to contribute to those of
the peoples of other nations.
Exports of agricultural products were
$784,776, 142. OF manufactured products
we exported in value 1899 ,592, 146, being
larger than any previous year. 1t is a
noteworthy fact that the only years in
all our history when the products of
our manufactures sold abroad ex
ceeded those bought abroad were 1898
and 1899.
Government receipts from all sources
for the fiscal year ended June 80, 1899,
including $11, 1888 part payment
of the Central Pacific railroad indebt
edness, aggregated $780, ,004.35, GUS
toms receipts were S206, 12S, 4S1.75, and
those from internal revenue 1878, 437,-
1851.
For the fiscal year the expenditures
were $500, 1893, 564.02, leaving a deficit
of $50 III, 559.s7. The secretary of the
treasury estimates that the receipts for
the current fiscal year will aggregate
s640 95S,112, and upon the basis OF
present appropriations the expendi-
lures will aggregate $500, 1885, 12, leav-
ing surplus of $40,OO0,00O. For the
fiscal year ended June 80, 1899, the in
ternal revenue receipts were increased
about $1OO.OO0,O00.
The Currency.
The president asks that notifications
be made in the national banking act IS
will render it's service more respons-
i've to the peoples needs in the way OF
added circulation and urges that ma
tional banks be authorized to organize
with capital of 5,000 l urgently
recommend that to support the exist
ipg gold standard, and to maintain
the parity in valu of the coins of the
cwo metals (gold and silver 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 ant nas' ged
with the duty to sell Unitet -
bonds and To employ such 9th efis~.
i've means as may be necessary to
these ends. The authority should in
clude the power to sell bonds on long
and short time. as conditions may re
quire. and should provide for rate
of interest lower than that fixed by the
act of January Il, 1875. While there
is now no commercial fright which
withdraws gold from the government,
but on the contrary, such widespread
confidence that gold seeks the treasury
demanding paper money in exchange
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 gov
ernmcnt are conducted upon a gold
basis. We receive gold when we sell
United States bonds and use gold for
tbflr payment. We are maintaining
.s<he parity of all the money issued or
= coined by authority of the government
We are doing these things with the
means at hand. Happily at the pres.
ent time we are not compelled to re-
sort to loans to supply gold. 1t has
been done in the past, however. and
may have to be done in the future. II
behooves us, therefore. TO provide al
once the best means to meet the emer-
gency when 1t arises. and the best
means are those which are the most
certain and economical. Those now
authorized have the virtue neither OF
directness or economy. We have al
ready eliminated one of the causes of
our financial plight and embarrassment
during the years 1898. 1894, 1895 and
1896 Our receipts now equal our ex-
penditures deficient revenues no
longer create alarm. Let us remove
the only remaining cause by comforting
the full and necessary power on the
secretary OF the treasury and impose
upon him the duty to uphold the pres
emit gold standard and preserve the