The Red Cloud chief., 1900-12-06

~. Oi7. S73.l5.
be the disposition OF the congress to pro-
vide whatever further legislation IL
needed 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 1881. continued az. 2 per
cent in the sum OF s25 36i. 500. To and
including November 20, SIX. 4bS. 100 OF those
bonds has been paid. Ihis sum. to-
gether with the amount which may
accrue from further redcmptions under
the call. will be applied to the sinking
fund
The beneficial effect Of the financial act
OF 1903 So far as It relates to the moditlca-
ton Of the national banking act h al
ready apparent. The provision for the
incorporation of national banks with "a
capital of not LESS than 5000 In places
not exceeding 300 inhabitants has re-
suited In the extension OF banking Ia
cllitlcs to many small communities Nth
erto unable To provide themselves with
banking Institutions under the national
system. There wore organized from the
enactment OF the law up to and Including
November 80, 36l national banks, Of which
2j6 were with capital less than $4,000 and
lU3 with capital OF $4,000 or more.
Our foreign trade shows a remarkable
record OF commercial and Industrial prog
ress. The total of imports and exports
for the first time IN the history, OF the
N'hiAlN 'NtNtutl N=t''NtV'Npv' Tue y
ports are far greater than they have
ever been before. the total for the fiscal
year 1870 being 81 ,S9i, iS5,0S2, an Increase
over 1899 of Slb7. 45g. $50, an Increase over
1895 of $lC3, OOt.OI2. over 1897 OF s3i3 49,. 526,
and greater than 1876 10y SSH ,S,6,lii.
The growth of manufactures In the
United states Is evidenced by the fact
that the exports of manufactured pro-
duets last year exceed those OF any pre-
vious year, their value being SiN3.Sii $50,
against sS39, 592, lt6 In 1899, AN Increase of
y per cent.
Agricultural products were also ex-
ported during 1890 In greater volume than
In 1899. the total Off the year being $500
sos 23, against $751; i16,lI2 In 1899.
EXTENSION OF AMERICAN TRADE.
The failure of action by the senate al
It's last session upon the commercial con-
ventiOns then submitted for It's considera-
ton and approval, although caused Nv
the great pressure OF other legislative
business. has caused much disappoint-
ment TO the agricultural and Industrial
interests of the country, which hoped 10
proft ny their provis. ons. The conven-
tional periods FOR their ratification hav-
ing expired, II became necessary to sign
articles extending the time for that pur-
pose. This was requested on our part
and the other governments Interested
have concurred, with the exception OF one
convention, In respect TO which no formal
reply has been received. In my last COM
munication to congress on this subject
special commercial agreements under the
third section OF the tnriff act have been
pIoCIdlmcu with fOTthEul, WIN llHly anu
with Germany. Commercial conventions
under the general limitations of the
fourth section of the same have been con-
cluded with Nicaragua, with Ecuador.
with the Dominican republic, with Great
Britain on behalf OF the Island of Jrini-
dad and with Denmark on behalf of the
Island of st. Croix. This will he early
communicated TO the senate. Negotiations
with other governments are In progress
for the Improvement and security OF our
commercial relations.
The policy of reciprocity so manifestly
rests upon the principle of international
equality and has been so readily approved
by the people OF the United StaIes that
there ought to be no hesitation In either
branch of congress In giving to 1t fun
effect.
This government desires to preserve the
most just and amicable commercial rela-
tons with all foreign countries, unmoved
by the Industrial rivalries necessarily de-
veloped in the expansion OF international
trade. IL is believed that the foreign gov
ernments generally entertain the same
purpose, although In some instances there
are clamorous demands upon them for
legislation specifically hostile to American
interests. Should these demands prevail
l shall communicate with congress with
n Wow OF advising such legislation as
may be necessary To meet the emergency,
The exposition of the resources and
products OF the western hemisphere to be
he'd at Buffalo next year promises i'm
portant results, not only for the United
States, but for the other participating
countries. 1t IL gratifying that the Latin.
American states have evinCed the liveliesI
interest, and the fact that an interna'
tional American congress will be held In
the city Of Mexico while the exposition
Is in progress encourages the hope of q
larger display at Buffalo than Nigh
otherwise be practicable. The work OF
preparing an exhibit of our national re-
sources is making satisfactory progIc ss
under the direction of the different ON
Gals of the federal government and tn,
various states of the union have shown
a disposition toward the most liberal par
tic.patlon In the enterprise.
The Bureau OF American Republics con
tinues to discharge Will the happiest re
suits the important work OF promotins
cordial relations between the United
States and the Lltin-Amer!Can countries
all OF which are now active members o.
the International union. The bureau ha'
been Instrument In bringing about thu
agreement for another internationa
American congress, which is to meet n
the City OF Mexico In October, 1901. Tn,
bureaus future for another term OF .er
years is assured by the international com
pact. but the congress Will doubtless hav'
much to do with shaping new lines o
work and Il general policy. Its usefulness
to the interests of L.atin-American trad
Is widely appreciated and shows a graf
flying development.
Ihe practical utility of the consula
service In obtaining a wide range of In
formation as to the industries and com
merce of other countries, for introducini
the sale of our goods, has kept steadily ii
advance OF the notable expansion OF GU
foreign trade and abundant evidence ha
r been furnished, both at home and abroad
r Of the fact that the consular reports, in
Guiding many from our diplomatic repre-
sentatives, have to a considerable eXten
pointed out ways and means of disposlni
! OF a great variety Of manufactured good
which otherwise might not have foun'
) sale abroad.
REVISION OF REVENUE LAWS.
|, ] recommend tina the congress at 1t
present session reduce the internal reve
. nue. taxes imposed to meet the expense
/, OF the war with SPAN In the sum OF $50,
! 100000. This reduction should be secures
= by the remission of those taxes whicl
|, experience has shown to be the mos
: burdensome to the industries Of the PEG
r pie.
: | specially urge that there be includes
In whatever reduction Is made the legac,
: taN, requests for public uses OF a literary
: educational or charitable character.
American vessels during the last tire
/ years have carried about 3 per cent of GU
: exports and imports. Foreign ships shout
q carry the least, not the greatest, part q
American trade, The remarkable groWtl