The Iola register., 1900-12-07

the new law are In sections where the
need of banking facilities has been most
pronounced. Iowa stands first, with 20
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; A large
Increase In national bank note circulation
has resulted from the provision Of the
act which permits national banks to issue
circulating notes to the par value of the
Instead of only 30 per cent. thereof as
heretofore. The increase in circulation
notes from March IA to November 20, is
DUTY OF THE PARTY IN POWER.
1t will be the duty as I 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 gold. The par
y. In power is. committed TO. such legis-
lation as will better make the currency
responsive to the varying needs of bust
ness at all seasons and in all sections
GROWTH OF FOREIGN COMMERCE..
our foreign trade shows remarkable
record of commercial and industrial
| progress. The total of imports and eX
ports for the first time in the history
of our country exceeded $20O,0O0 600. The
been before, the total for the fiscal year
| 1900 being $l39i. .4S30S2, an increase over
1893 Of $l6l $3.50 an increase over 1898
greater than 1896 by S511. .S76,1A
The growth of manufactures i'm the
| that exports Of manufactured products
largely exceed those of any previous year,
their value for 1900 being si53. .S51. .756,
against $685., 592 li6 I'm 1899, an Increase OF
& per cent Agricultural products were
also exported during 1900 in greater vol
ume than IN 1899, the total for the year
being SS35, S5S 123, against S1S4 1i2 in 1899
The Imports for the year amounted to
| SS49 Ml lN. an increase over 1899 of $l52,-
| 192,G95 This increase Is largely I'm mate
| Tinlg for manufactures and Is in rpgnnngp
| to the rapid DEVELOPMENT or manufactur-
Ing in the United states.
manufactures I'm 1900 material to the value
| of SD 16S.92 In excess OF 1889, II Is re-
assuring to observe that. there Is ten
| dency toward decrease In the importa-
| tion Of articles manufactured ready for
consumption; which i1 i9OC formed IL!
| 1854 per cent in 1899, and 2l.O9 per cent
I'm 1896
REDUCE WAR REVENUE TAXEs.
/ recommend that the congress at its
present session reduce the Internal rev
! enue taxes imposed to meet the expenses
| Of the war with Spain in the sum OF $780,,
| oOOOW. This reduction should be secured
! by the remission Of those taxes which
| experience has shown TO be the most bur
dcnsomc to the Industries Of the people.
| ! specially urge that there be included
| IN whatever reduction is made The legacy
/ tax, bcQucsts for public uses of "a literary,
educational or charitable character.
FOR THE MERCHANT MARINE.
American vessels during the past three
years carried about nine per cent of our
exports ana imports. Foreign ships should
carry the least, not the greatest part Of
J American trade The remarkable growth
/ of our steel industries, the progress Of
shipbuilding for the domestic trade, and
our steadily maintained expenditures FOR
the navy have created an opportunity TO
/ place the United states IN the urst rank
! of commercial maritime powers. Besides
realizing a proper national aspiration this
! Will mean the establishment and healthy
D growth ulpufr all pf "A distinct
/ i've national industry, expanding the Held
! for profitable employment of labor and
capital. II Will Increase the transpor-
/ tation facilities and reduce freight charg-
! es ON the vast volume of products brought
| from the interior to the scaboard for
! export and viii strengthen an army OF
! the national defense upon which the
/ founders OF the government and their
! successors have relied. In again urging
! immediate action by the congress on
measures to promote American shlpbuild-
! ing and foreign trade. ! direct attention
! in previous messages. and particularly to
| the opinion expressed In the message OF
| 1899. 1t am satisfied the judgment of the
country favors the policy of aid to our
merchant marine which Will broaden our
| commerce and markets and upbuild 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 a. well as
| n safeguard to American interests In eV-
| cry part of the world
The attention Of congress is invited
to the recommendation OF the secretary
| OF the treasury In his annual report for
! legislation in behalf Of the revenue cutter
service and favorable action Is urged.
WOULD RESTRAIN TRUSTS
In my last annual message to the con-
| gress / 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 az that time.
which concluded with these words: 1T
| is apparent that uniformity of legislation
! upon this subject IN the several states
| Is much to be desired. II Is to be hoped
! that such uniformity, founded In "a wise
/ and lust discrimination between what H.
, injurious and what is useful ana neCrs-
| sary in business operations may be oh
tanned, and that means may bc found Tor
! 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
T throughout the United States adequate
/ to compel general observance Of the
/ sautary rules to which ! have referred.
| The whole question H. So important and
! far-reaching that I am sure no part of
/ IL will be lightly considered, but every
! phase Of II will have the studied dclib-
| Grafton of the congress, resulting IN WlSc
| and iudictous action. Restraint upon Such
! combinations as are Injurious, ana which
are within federal jurisdiction should be
| promptly applied by the congress.
THE PHILIPPINE QUESTION.
In my last annual message I dwet at
/ in the Philippines. While seeking to I'm
press upon you that the grave RESPONSE
hility of the future government of those
| islands rests with the congress Of the
! United States, / abstancd from recon-
mending at that time specific and final
| form of government for the territory ac-
tually 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
fosmal expression of its viii 10 isH the
authority vested I'm me by the constitution
| and the statutes to uphold the sovereignty
| of the United States in those distant Is
| lands as in all other places where our
flag rightfully floats, placing, to that end
| at the disposal of the army and navy all
the means which the liberality of the
congress and the people have provided
No contrary expression of the Will of the
congress having been made, have stead
| fastly pursued the purpose so declared!
| employing the civil arm as well toward
the accomplishment of pacifcation and
the institution Of local government within
the lines of authority and law,
Progress in the hoped-for direction has
been favorable. our forces have success
| f1l1v cont rolled the greater part of the