The Forrest City times., 1900-12-07

|
 Our Financial Showing.
 The president points with much pride to the showing made by the treasury de- partment and quotes exhaustively from the report of Secretary Gage. He shows the surplus for the year to be s19-5ZI, COLIN. | and estimates the surplus of the coming year ausso ooo.coo. Hesays present condition of the treasury is one of undoubted strength The available cash balance November 50 was sl5s. .S0s, 5o. Under the form of statement prior to the financial law of March l4 last this would have been in cluded in the statement of available cash gold coin and bullion held for the redemp- 1 ton of United States notes.
 Further Financial Legislation.
 He recommends further financial legis- lation in the following words:
 It will be the duty as l am sure it will 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 revenues have permitted the | secretary of the treasury since the close of the fiscal year to call in the funded loan | Of lSsl continued at two per cent, in the sum of t25. .364 5oa. To and including No yember 9. s23, 100 of these bonds have amount which may accrue from further | redempuons under the call, will be ap piled 10 the sinking fund;
 | The law of March A. 1900, provided for refunding into two per cent. S0-year bonds, payable, principal and interest. in gold coin Of the present standard value. that | the three-per-cent- bonds of 1908, the four per-cents of 1907 and the five-per-cents ing at the date of said law ssss. 14s- s5o. The holders of the old bonds pre- scented them for exchange March A and Novem- Der 90 to the amount of s364. .94S 750. The net saving to the government on these transactions aggregates ss.10s. 166.
 Banking Facilities Extended.
 The beneficial effect of the financial act of 1900, so far as 1t relates to the modifi- 1 cation of the national nk act iS al. ready apparent. The provision for the incorporation of national banks with capital Of not less than s25,000 in places not exceeding 3,ooo inhabitants has result ed in the extension of banking facilities to many small communities hitherto un able to provide themselves with banking institutions under the national system. There were organized from the enact November 90, 3ss national banks. of which 266 were with capital less than $50, GOO and loy with capital of so,Oo or more.
 number or banks being organized under the new law are in sections where the pronounced Iowa stands first, with 30 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 remarka ble record of commercial and industrial prog ress. The total of imports and exports country exceeds ,2.ooo. .O0o coo. The exports
 before, the total for the fiscal year 1so0 being q, ,3s4. .4s3 os2. increase over 1899 over 1897 of ss4s sss sss and 1 9 greater than 1896 by s511. .s76,l44
 The growth of manufactures in the | United States is evidenced by the fact that exports of manufactured products largely exceed those of any. previous year. sRsr gans s S s ss seing m ineTesse of Agricultural products were also export
 1899. the total for the year being ssS5, S5s,-
 123. against s7s477e,l42 in 1898.
 The imports for the year amounted to ss4s; ;s41 ,lsA an. increase oyer 1889 of sl52, 7s2.695. This increase is largely in mate
 rials for manufacture, and Is in response ing in the United States. While there ! was imported for use in manufacture in .. 1900 material , to the value of s7s.7es s72 in ] that there Is a tendency toward decrease 3 in the importation of articles manufac- l tured ready for consumption, which in , 1900 formed 15.l7 per cent. of the total
 import, against 1854 per cent. in 1899 and ] H.0s per cent. in 1896.
 The Internal Revenue Tax.
 recommend that the. congress at it's present session reduce the internal rev
 enue taxes imposed to meet the expenses g of the war with Spain in the sum of s30,
 000e GOO. This reduction should be secured 9 | by the remission of those taxes which ex- . perience has shown to be the most bur f l densome to the industries of the people : l specially urge that there be included In y whatever reduction is made the legacy tax. : bequests for public uses of a literary edu- . | cational or charitable character Recomme ds ship Subsidy. ! American vessels during the past three years have carried about nine per cent
 of our exports and imports. Foreign ships
 sn1qo t caTps rcan 1ne eas tTsd nTI the ggeatest s 1 growth 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 f Besides realizing proper national as- | piration this will mean the establishment ] | and healthy growth along all our coasts of a distinctive national industry, expand n ing the field for profitable employment | of labor and capital. It will increase the = transportation facilities and reduce freight Q charges on the vast volume of products : | brought from the interior to the sea aboard
 for export, and will strengthen an arm : of the national defense upon which the founders of the government and their l successors have relied.
 The Trust QueAtion The trust question receives the atten- :. | tion of the president, and he says: 2 Tt is apparent that uniformity of legis- lation upon this subject in the several . states is much to be desired. It is to be z hoped that such uniformity, founded in a wise and just discrimination between what is injurious and what is useful and neces- . | sary Tn business operations, may be ob- tained, and that means may be found for the congress, within the limitations of its < constitutional power, so to supplement an !. effective code of state legislation as to make complete system of laws through out the United States adequate to compel
 a general observance of the salutary rules
 to which have referred.
 The whole question is so important and ! | far-reaching that l am sure no part of it will be lightly considered, but every phase a of 1t will have the studied deliberation Of f l congress, resulting in wise and iudfcious : | action.
 Restraint upon such combinations as are
 injurious, and which are within federal e jurisdiction. should be promptly applied e | by the congress"
 e The Philippines. 2 Considerable attention is given the sub
 Ject of the Philippines, and in this con ' nection the scope and work of the Phil l ippine commission as outlined to the com z missioners is fully outlined for the bene- n nt or congress Of the present condi- ' tions in the islands the president says; In my last annual message I dwelt at
 some length upon the condition of af-