The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1900-09-27
PROTECTION AND THE FINANCES

with the added force Of a deliberate
reaffirmation.
PROTECTION AND THE FINANCES
Payment of United States Bonds-Nation-
al Income and Outgo.
"The Republican party remains
faithful to it's principle of protective
tariff which supplies sufficient rev.
enues for the government and ade-
quate protection to our enterprises and
producers; and of reciprocity which
opens foreign markets to the fruits of
American labor, and furnishes new
channels through which to market the
surplus of American farms. The time
honored principles of protection and
reciprocity were the first pledges of
Republican victory to be written into
public law.
1.-THE present congress has given to
Alaska a territorial government for
which it had waited for more than
quarter OF century; has established
representative government in Hawaii;
has enacted bills for the most liberal
treatment of the pensioners and their
widows; has revived the free home
stead policy. In it's great financial
law it provided for the establishment
Of banks Of issue with capital of $780,
600 for the benefit Of the villages and
rural communities, and bringing the
opportunity for profitable business in
banking within the reach of moderate
capital. Many are already availing
themselves of this privilege.
During the past year more than
$1O,0OO,OOO of United States bonds
have been paid from the surplus rev.
enues of the treasury, and in addition
So, 100000 of 2 per cents. matured,
called by the government, are in proc
ess Of payment. Pacific railroad bonds
issued by the government in aid of the
roads in the sum Of nearly $40,O0O,0OO
have been paid since Dec. 81, 1897.
The treasury balance is in satisfactory
condition, showing on Sept. / $685.
$4,000, in addition to the $150,OO0O00
gold reserve held in the treasury. The
governments relations with the Pa
cific railroads have been substantially
closed, $124, 421, 900 being received
from these roads, the greater part in
cash and the remainder with ample
securities for payments deferred. In
stead of diminishing, as was predicted
four years ago, the volume of our cur
rency is greater per capita than it
has ever been. 1t was $211O in 1896.
It had increased to $26.50 on July 1,
1900, and $26.85 on Sept. 1, 1900. Our
total money on July 1, 1896, was ST.
SOC, 434 96G; on July 1, 1900, it was ST.
O62 ,425 1876, and $2,096, $3.50, O42 on Sept.
1, 1900
'Our industrial and agricultural con-
ditions are more promising than they
have been for many years; probably
more so than they have ever been.
Prosperity abOunds everywhere
throughout the republic / rejoice that
the southern as well as the northern
states are enjoying a full share Of
these improved national conditions and
that all are contributing so largely
to our remarkable industrial develop
ment. The money lender receives low
er rewards for his capital than if it
were invested in active business. The
rates of interest are lower than they
have ever been in this country while
those things which are produced OH
the farm and in the workshop, and
the labor producing them, have adj
yanced in valve.
sour foreign trade shows a satisfac
tory and increasing growth. The
amount of our exports for the year
1900 over those Of the exceptionally
prosperous year of 1899 was about half
q million dollars for every day of the
year. and these sums have gone into
the homes and enterprises of the peo-
pie. There has been an increase of
ovr 500, 100000 in the exports of agri-
cultural products; 500, 692, 22O in manu-
features, and in the products of the
mines over $10,OOO,OOO. Our trade bal
ances cannot fail to give satisfaction
to the people Of the country. In
1895 we sold abroad $616, 432,676 Of
products more than we bought abroad;
in 1899 1929, S47, 813, and in 1900 $544,
All, 701, making during the three years
a total balance in our favor Of ST.
$50, 779, 190-nearly five times the bal
ance Of trade in our favor for the
whole period of 108 years from 1870
to June 80, 1897, inclusive.
-Four hundred and thirty-SiX million
dollars of gold have been added to the
gold stock of the United States since
July 1, 1896 The law of March IA,
1900. authorized the refunding into 2
per cent. bonds Of that part of the
public debt represented by the per
cents. due in 1903, the 4 per cents
due in 1907, and the per
cents. due in 1904, aggregating $780,
100000. More than one-third of the
sum of these bonds was refunded in
the first three months after the pas
sage of the act, and on Sept. / the
sum had been increased more than
$33 100000, making in all $780,
57S,050, resulting in a net saving
Of over $9,3T9,520 The ordinary re
ceipts of the government for the fiscal