The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1900-12-08

to it fun effect.
Our Financial Showing.
The president points with much pride
to the showing made by the treasury de-
the report of Secretary Gage. He shows
the surplus for the year to be $19.02I, OVO.l Is,
and estimates the surplus Of the coming year
auSS0, 900. 900. Hesays the present condition
of the treasury Is one of ~undoubted strength.
available cash balance November 30
was siS9, sOs. 1874. so. Under the form Of
March II last this would nave been in
cluded IN the statement of available cash
gold coin and bullion held for the redemp-
ton Of United States notes.
Further Financial Legislation.
He recommends further financial legis-
lation In the following words: .
1t will be the duty as l am sure It will
be the disposition Of the congress to pro-
vide whatever further legislation Is need
ed to insure the continued parity under
all conditions between our two forms of
metallic money. silver and gold.
Our surplus revenue have permitted the
secretary OF the treasury since the close
Of the fiscal year to call in the funded loan
OF 1881 continued at two per cent In the
sum OF $25. 1854, 500. To and including No.
been paid. This sum. together with the
amount which may accrue from further
redemptions under the call. will be ap-
The law OF March Il. 1900, provided for
refunding Into two per cent. S0-year bonds.
payable, principal and interest. In gold
coin of the present standard value. that
portion of the public debt represented by
the three-per-cent. bonds of 1908. the four
per-cents OF 100! and the fve-per-cents
OF 1900. OF which there was outstand-
$50. The holders of the old bonds presented
them for exchange March IA and Novem-
Der 80 to the amount OF 1864. 1850. .Ths
net saving to the government on these
transactions aggregates 50. 106. 166.
Ranking Facilities Extended.
The beneficial effect Of the financial act
OF 1900. so far as 1t relates to the modifi-
cation OF the national banking act, is al-
ready Iesoyno apparent pare t, The provision for the
capital of not less than $4,000 in places
not exceeding 5000 Inhabitants has result
ed In the extension of banking facilities
to many small communities hitherto I'M
able to provide themselves with banking
There We're organized from the enact
November 80, 1863 national banks, OF which
"a were With capital less than SO. 600 and
log with capital of $4,000 or more.
number OF banks being organized unde
the new. law are in sections where the
need OF banking facilities has been most
banks of the smaller class, while Texas,
Oklahoma, Indian territory and the mid
die and western sections of the country
have also availed themselves largely OF
the privileges under the new law.
Our Foreign Trade
Our foreign trade shows a remarkable
record of commercial and Industrial prog
ress. The total of imports and exports
s for the e sTss 5im g an IN oh The eod his tory ! e Of the
are greater than they have ever been
before, the total for the fiscal year 1900
being 8 ss4 4sS ,oS2. an increase over 1899
of Sl67, 4o9. $50, an increase over 1898 OF $685.
900. 752, over 1897 of ss4s. 4S9. 526. and greater
than 1896 by so11.S76.l44:
The growth of manufactures in the
that exports of manufactured products
largely exceed those of any previous year.
their value for 1900 being $43s. ISL, 75S,
against 1883 .os2.l46 in 1883, an increase Of
Is per cent.
Agricultural products were also export
ed during 1900 in greater. volume than in
iss'' against sR q ast'i sis ST s s.is2 'f ia l ss,hs '''''''''-
The imports for the year amounted to
ss4s. 81 .1S4, an increase over 1899 of sl52.-
rails for manufacture. and Is in response
to the rapid developer ent of m~anufactur-
in the United States. While there
was imported for use in manufacture in
1900 material to the value of $40. !6S. y72 in
excess of 1899. II is reassuring to observe
that there Is a tendency toward decrease
in the importation Of articles manufac-
1900 formed 1917 per cent. OF the total
against 1884 per cent in 1899 and
21.09 per cent. In 1886.
Tho Internal Revenue Tax.
I recommend that the congress at its
present session reduce the internal rev.
enue taxes imposed TO meet the expenses
of the war with Spain in the sum OF $780,
600. 900. This reduction should be secured
the remission of those taxes which ex-
p~erience has shown to be the most bur-
TO the industries of the people.
specially urge that there be Included IN
requests for public uses of a literary, edu-
cational or charitable character.
Recommends Ship Subsidy.
American vessels during the past three
years have carried about nine per cent.
Of our exports and imports. Foreign hip
s paqt Of c Amsri eae i traae. n Tbe .h rem gaes,ess;
of our steel industries, the prog
ress Of shipbuilding for the domestic trade,
and our steadily maintained expenditures
for the navy have created an opportuni-
ty to place the United States in the first
rank Of commercial maritime powers.
BESIDES realizing a proper national as
and healthy growth along all our coasts
of a distinctive national industry, expand
ing the field for profitable employment
transportation facilities and reduce freight
on the vast volume of products
brought from the interior to the seaboard
for export. and will strengthen an arm
of the national defense upon which the
of the government and their
successors have relied.
The Trust Question.
The trust question receives the atten-
ton OF the president. and he SAYS:
1T is apparent that uniformity Of leeis-
lation upon this subject In the several
states Is much to be desired. II "a IN he
hoped that such uniformity, founded in a
wise and just discrimination between what
Is injurious and what is useful and neces-
sary In business operations, may be oh
taiDed. and that means may be found for
the congress-. within the limitations of lis
constitutional power, SO to supplement an
effective code of state legislation as To
make a complete system Of laws through
out the United States adequate to compel
q general observance of the salutary rules
to which have referred.
THE whole question is so important and
f~ar-reaching that l am sure no part of IL
Will be lightly considered, but every phase
OF 1t VIII have the studied elaboration OF
congress-, resulting in wise n judicious
action.
Restraint upon such combinations as are
INJURIOUS. and which are within federal
jurisdiction, should be promptly applied
by the congress-"
The Philippines.
Considerable attention is given the SUBJ
1ect of the Philippines, and in this con-
nection the scope and work of the Phil
fppine commission as outlined to the COM
missioners Is fully outlined for the bene-
nj OF congress. OF the present condi-
tons In the Islands the president saws:
In my last annual message l dwelt at
some length upon the condition of az
fairs In the Philippines. While seeking
TO impress upon you that the grave re-
Gnnn % ~