Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-09-13


crease OF interest on the public debt
loan, was 1888, 40S.25. While congress
authorized the government to make a
war loan of $500 100000 at the begin
nlng OF the war With Spain, only $780,
OOO,ooO OF bonds were issued, bearing
8 per cent. interest, which were prompt
~ ana periodically taken by our citl-
zens.
unless something unforeseen oc-
ours TO reduce our revenues or IN
crease our expenditures, the congress
at It's next session should reduce taxa
tlou very materially. rive years ago
we We're selling government bonds
bearing as hlgh as D per cent. inter-
est. NOW we are redeemng them with
pond at par bearing per cent. m
tefest. we are selilng our surplus
ifoaucts ana lending our surplus mon
e! TO Europe. one result OF our sell
ing TO other natlons so much more
.hah we nave pousht iroha tnem uur,
ing Ane past tlifee years is raolcdi
Improvement OIL our nhahclal felatlohs'
TRANSPORTATION OF OUR EXPORTS
should be Done by our own ships-canaI
Across the is'hfn"s'
"Nlaety-one per cent. OF our exports
and imports are now carried by Tor
eign ships. For ocean transportation
we pay annually to foreign shlpown-
ers over Sl6o, 100000. we ought to
own the ships for our carrying trade
with the world and we ought to build
them in American shipyards and man
them with American sailors. Our own
citizens should receive the transporta-
ton charges now paid to foreigners. l
have called the attention of congress
to this subject in my several annual
messages In that of Dec. q, 1897, l
said: Most desirable from every
standpoint OF national interest and pa
trlotlsm is the effort to extend our for
eign commerce. To this end our mer-
chant marine should be improved and
enlarged. We should do our full share
of the carrying trade of the world We
do not do it now. We should be the
| laggard no longer
In my message Of Dec. 5, 1899,
said: Our national development will
beone-sded and unsatisfactory so long
as the remarkable growth of our in
land Industries remains unaccompa-
MED by progress on the seas. There
Is no lack of constitutional authority
for legislation which shall give to the
country maritime strength common
surate with its industrial achieve
ments and with its rank among the
nations of the earth. The past year
has recorded exceptional activity in
our shipyards. and the promises of
| continual prosperity in ship building
are abundant. Advanced legislation
for the protection of our sea-
men has been enacted. Our coast
trade, under regulations wisely
framed at the beginning of the gov
e .l anu SINCE, SHOWS results Tor
| records or those of any other power.
| We shall fail to realize our opportuni-
| ties, however, if we complacently re-
| gard only matters at home and blind
ourselves to the necessity of securing
our share IN the valuable carrying
trade OF the world now reiterate
THESE views.
"A subject of Immediate Importance
TO our country is the completion Of a
| great waterway of commerce between
| the Atlantic and Pacific. The con-
structlon OF maritime canal is now
| more than ever Indispensable to that
| iiitiilate anu ready communication be-
| tween our eastern and western sea-
| ports demanded by the annexation Of
the Hawaiian islands and the expan-
sion OF our influence and trade in the
racine. Our national policy more i'm
peratvely than ever calls for it's COM
pletlon and control by this govern
ment; and 1t is believed that the next
session OF congress, after receiving the
run report OF the commission appoint
ed under the act approved March 8,
1888 VIII make provision for the sure
accomplishment of this great work.
SOME REFLECTIONS ON TRUSTS
W..
WIN hemarks OF interest to Laboring Men
-oivii service reform.
Comblnatlons OF capital which con-
trol the market IN commodities neces-
sary 10 the general use OF the people,
py suppresslng natural and ordinary
competltion, thus enhancing prices to
1ne general consumer, are obnoxious
10 the common law and the public well
rare. ihey are dangerous conspira-
cles against the public good and should
pe maze .ne SUBJECT OF prohibitory or
penai ieglsiatlon. Publicity will be a
4 QelDIQl influence TO check thiS avi1