The sun., 1900-12-04

year.
| 1t is gratifying also to note that during
the year considerable reduction is
shown in the expenditures of the govern
ment. The war department expenditures
for the fiscal year 1900 were S134, 774,-
| 16IIS, reduction of $95, ,066, 1860 over
those of 1899. In the navy department
the expenditures were sos 5,95.. 177.T2 for
| the year 1900 as against $6NI2, ,104 25
for the preceding year, decrease of ST.
9S9,026.53. In the expenditures on ac-
count of Indians there was a decrease III
1900 over 1899 of $2,63Q.6043S, and in
the civil and miscellaneous expenses for
/ 1900 there was a reduction of $13, 41S.-
O65.74.
Because of the excess of revenues over
expenditures the secretary of the treas
ury was enabled to apply bonds and 9TH
er securities to the sinking fund to the
| amount of S56.544. .55G.06 The details
of the sinking fund are set forth in the
report of the secretary of the treasury,
TO which | invite attention. The secre-
\ tary of the treasury estimates that the
| receipts for the current fiscal year will
aggregate S5S0.000,000 and the expend.
lures S500.000,000, leaving an excess Of
revenues over expenditures of $S0000,-
600. The present condition of the treas
ury is one of undoubted strength. The
available cash balance Nov. 80 was $780,
BOB, 794.50. Under the form of statement
prior to the financial law of March IA
last there would have been included in
| the statement of available cash gold coin
| and bullion held for the redemption of
| United States notes.
Ii this form We're pursued, the cash
balance, including the present gold re-
serve of $150,000.000 would be $780,
303, 794.50. Such balance Nov. 30, 1899,
was $29G,495,301.55 In the general
fund, which is wholly separate from the
reserve and trust funds, there was on
Nov. 30, $70,090, ,07315 in gold coin and
bullion, to which should be added S22,-
951,300 in gold certificates subject to is
sue. against which there are held in the
division of redemption gold coin and bull
lion, making total holding of free gold
amounting to S93,047,373.15
1t will be the duty as 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 enld
The Merchant Marine.
American vessels during thu ,&ast three
years have carried about 8 PER cent of
L
should carry the least. not the greatest,
part Of American trade. The remarka-
BILE growth of our steel Industries, the
progress of shipbuiding for the domestic
trade and our steadily maintained ex-
penditures for the navy have Nreated an
opportunity to place the United States in
| the first rank of commercial maritime
powers.
Besides realizing a proper national as
piration this will mean the establishment
and healthy growth along all our coasts
of a distinctive national industry, eX-
panding the field for the profitable en-
ployment of labor and capital. 1t will
increase the transportation facilities and
reduce freight charges ON the vast vol
ume Of products brought from the nte-
rior To the seaboard for export and will
strengthen an arm of the national de-
| felse upon which the founders of the
government and their successors have re-
lied. In again urging immediate action
by the congress on measures to promote
American shipping and foreign trade l
direct attention to the recommendations
on the subject III previous messages and
particularly to the opinion expressed in
the message of 1850:
II am satisfied the Judgment of the
country fayors the policy of aid TO our
merchant marine, which will broaden our
commerce and markets and uphuild our
sea carrying capacity for the products Of
agriculture and manufacture, which,
with the increase of our navy, mean more
/ work and wages to our countrymen as
| well as a safeguard to American inter-
ests in every part of the world"
In my last annual message to the con
grcss ! called attention to the necessity
for early action to remedy such evils as
might be found to exist in connection
| with combinations of capital organized
into trusts and again invite attention to
my discussion of the subject at that time,
which concluded with these words:
1T is apparent that uniformity of leg
islation upon this subject in the several
states is much to be desired. 1t is to be
hoped that such uniformity, founded in Il
wise and just discrimination between
what is injurious and what is useful and
necessary in business operations, may be
obtained and that means may be found
| for the congress, within the limitations
of its constitutional power, so to supple
ment an effective code of state legislation
| as to make a complete system of laws
throughout the United States adequate
| to compel general observance of the
salutary rules to which have referred.
THE whole question is so important
and farreaching that | am sure no part
| of it will be lightly considered, but every
| phase of it will have the studied deliber-
| GRAFTON of the congress, resulting i'll wise
and judicious action
Restraint upon such combinations as
are injurious and which are within fed
eral jurisdiction should be promptly ap.
piled by the congress.
The Philippine Question.
| In my last annual message l dwelt ut
| some length upon the condition of affairs
in the Philippines. While seeking to i'm |
press upon you that the grave RESPONSE |
biity of the future government of those
islands rests with the congress of the
| United States, / abstained from recom-
mending at that time a specific aud final
| form Of government for the territory
actually held by the United States forces |
and in which as long as insurrection con-
tinues the military arm must necessarily |
be supreme. | stated my purpose, until |
the congress shall have made known the
formal expression of it's will, to use the |
authority vested in me by the constitu- |