Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1900-09-10
CONTINUED FROM FIRST PAGE.


The present congress has given to Alas.
"a territorial government, for which 1t
bad waited more than n quarter Of CEN
tnry; has established a representative gov
eminent IN Hawaii has enacted bills fer
the most liberal treatment Of the pension
srs and their widows: has revived the free
homestead non policy; In Its great financial
banks OF Issue with capital of s25, 900 for
the benefit OF villages aud rural communi-
ties and bringing the opportunity for
profitable business In banling within the
reach Of moderate capital. Many are already
ayailing themselves Of this privilege.
Tho Cry of Prosperity.
Drrirg the past year more than sis,ooo,-
90 Of United States bonds have been paid
na S IN Shf addPdS dSIfPS' s Of The tre%sy
matured, called by the government, are in
process OF payment. Pacific railroad bonds
roSds ens sum of nsarIy Y d Of t9e
been paid since Dec 81, iSS7. The treasury
balance Is In satisfactory condition, show
ing on on Sept, !, sls5,ll9,0oo, in. addition 10
treasury; The 9overnInents relations with
the, Pacific railroads have bccn suhgtan-
tally closed. sl2i, $4,000 being received
Hom these roads, the greater portion In
cash and the remainder with ample secu-
riiies Tor payments deferred.
hstoad OF diminishing, as was predicted
been. 1t was $2i.10 In 1886 1t lns in
creesed TO $3.50 on July !, 1900. and S26. IS
on Sept. ], 1900. Our total money on July
was a,cs2, I25, iSO and *, s,coe, ,s$5Gls on sept.
j, 1900.
Our industrin and agricultural conditions
are more promising than they have been
for many years; probably more so than
they have ever been. Prosperity abounds
eyeiywht re throughout the republic. | re-
Joice that the southern as well as the
northern states are enjoying a full share
of these improved national conditions, aud
that AZ are contributing so largely to our
money lender receives lower rewards for
his capital than u 1t were Invested In ac-
rive business; The rates Of interest are
country, while those things which are
prodrced On the farm anl in the work
shop, and the labor producing them, have
Our foreign trade shows satisfactory
and Increasing growth. The amount Of our
exports for the year 1900 over those Of the
cSc rtlonally prosperous year of 1870 was
about $4,000 Tor every DAY Of the year, aud
these sums bave gone into tho homes and
enterpiises OF the people. There has been
af agricultural products; soc 500, 220 In manu-
over siOoSoOoO. Dur trade balances cannot
fai' TO give satisfaction 10 the people of
the country. In 1898 We sold abroad $685.
4S2,6'e. Of products, more than we bought
abroad in 1Sao s52s.s74Sl3, aud In 1900
r"if'ffl,lNl. InNblHH uuTlUR IHr InTer Yeats
ttal balance 10 our favor OF SlGs3,7D, l9l
--rcerly 6ve times tho balance Of trade In
our favor for the whole period Of rs
yccrs, from 1880 10 June 80, 1897, inclusive.
Four hundred and ,hirty-slx million dol.
lars of gold have been added to the gold
stock ssttooss Of the United States since July J.
iSed the rcfrndIng into per cent
bonds OF that part OF the public debt rep
resented by the : per .ents due IN l@s,
the per cents. due IN 1907 and the S per
cents dun In 1901 nuuTpuntinn HsiO mn COO
More thon one-third Of the sum Of these
bonds was refunded in the first three
on %onaS sS a'F the the sum aS % a. the nS ed
more tlon SSSoOO,GCO. making in ali $500
sSSSeso. S9a %. resulting IN net saving Of oys, %
sr Se sco rSSsS sSsT @ Of we're ere
$40 1860 In excess Of It's expenditures.
While our, receipts, both frcm customs
and Internal revenues; have been greatly
ereasinR. Ciyil and miscellaneous ex-
psLLtes for the hsral year M ending June 20,
1900 were nearly $1,000 900 less than In
1Se9 While on tho war account there ls 4
decrease Of more than se5,ooc,oOo There
we're required Ss00o,Dc0 less to support the
navy this year than lust; and IT, expendl,
nearly S2.75o000 less thar in 1880.
The only two items ef increlse
inoo n the public expenses ct itOo eyer yer
public debt. For 1880 We expended for pen.
sions si3s,a as,oe9. aud for the fiscal year 1900
our payments on his account amounted t.
on the public debt of 1880 over 1880 re-
Quilted by the war loan. was S263. %,
While congress outhorizcdd d h ne o goterninsnt
ginring Of the wnr With Spnin, only $780,
100000 OF bonds were lssned hearing per
cent interest, which were promptly aud
periodically taken by our citlzcrs
Taxes 10 he Reduced.
Uuless something unforeseen occurs to rc-
dpce our revenues. or Increase our eNpenu-
itures, the congress At It's next session
should reduce taxation very n,cleiluly,
Five years ago We were selling govern
nent bonds bearing as high rs per gent, cent
interest Now we ire. redpemlng them
with a bond al par beurlng per cent In
terest We ARE selling our surplus products
o and lending our surplus money & TO- Emf2pe ,iG,s
10 much more than we have bought from
them during the past three years Is a radl-
The great amounts of cupilul which have
been borrowed of Europe for our rapid
material development have remained con-
Etant drain upon our resources for interest
and dividends and made our money mar
kets liable TO constant dlslurhnuCcs ly
calla for payment or henvy sales OF our se
cnrlties whenever moncyed tringcncy or
panic occurred abr"nd We have now been
paving these debts and bringing home many
OF our securities and establishing counter.
vailing credits abroad by our loans and
placing ourselves upon sure foundation of
financial Independence
Ia the unfortrnatc col test between Great
Britain ana the Boer states or south Afn-
Gu, the Cnlted states has maintained an
attitude Of neutrality In rccnidanee with its
well known traditional policy. 1t did not
hesitate, however, when requested by tho
governments Of the south African repub-
Hes, 10 exercise It's good Offices Tor a ces.
;Sst sSon wSs e nos's s so,b i \ to be ShssrHea
gade like request II .ther powers. the
United States Y the only cne which COM
piled The British government declined TO
accent The tntnrEpntIgu of
Ninety-one per cent. OF our exports and
imports are now carried by foreign ships
Fer ocean TRANSPORTATION we pay annually
70 foreign ship owners over SlS 900 900 we
ought 20 own the shipa for our CARRYING
trade with the world and we ought 10 build
them In American Hhlpyards and man them
with American Salors. our % own " citiz@ns Tens
should receive the Transportation charges
now paid 10 foreigners, ! have called the
attention nf congress 10 this subject I'm NV
several annual messages. In that OF Dec
q, 1897, ! said
''iost desirable from every standpoint OF
national Interest ana patriotism Is the cf-
Ihis end our merchant marine should be |
Improved and enlarged. We should do our |
fnll share OF the carrying trade OF the |
world We do not do II now. We shouid |
be the laggard no longer"
n my message Of Dec. 9. 1899. | said:
our national development will be one. |
mnrkable growth of our inland industries
remains unaccompanled by progress on tho |
sssb, sn, Sor,,n ,tne,e n9 lex Of constitutional
70 lhe country maritime strength rommen-
hufate with IT. Industrial achleyements
ana ,h Win its rank among tho nations Of |
THE past year has recorded oxceptlopal
ACTIVITY In our shipyagds, and the prom |
ises OF continual prosperity IN shipbuild. !
the protection of our aeamen has bpen en-. |
acted. Our coast trade. under regulations |
,stnnss, psnSp ana ht the hekinnlng Or TIE gov