The Republican., 1900-09-13

ment ana adequate protection TO our en-
terprises and producers and of recipPoci-
ty which opens foreign markets to the
fruits of American labor and furnishes
new channels through which to market
the surplus OF American farms The
time honored principles Of protection and
reciprocity were the first pledges of Re-
publican victory TO be written into pub
lie law.
The present congress has given to
Alaska a territorial government for
which it had waited more than a quar-
Ter of century, has established a rep
fesentative government in Hawaii, has
enacted bills for the most liberal treat
ment of the pensioners and their widows
and has revived the free homestead pol
icy. In Its great financial law it pro.
vided for the establishment of banks OF
issue with capital of $4,000 for the
benefit OF villages and rural communities
and bringing the opportunity for profita-
bic business in banking within the reach
OF moderate capital. Many are already
availing themselves of this privilege.
The CountrY's Prosperity.
Our industrial and agricultural condi-
tions are more promising than they have
been for many years, probably more so
than they have ever been. Prosperity
abounds everywhere throughout the re-
public. | rejoice that the southern as
well as the northern states are enjoying a
full share of these improved national con-
ditions and that all are contributing so
largely to our remarkable industrial de-
velopment, The money lender receives
lower rewards for his capital than il it
were invested In active business. The
rates Of interest are lower than they have
ever been in this country, while those
things which are produced on the farm
and in the workshop and the labor pro-
ducing them have advanced in value.
Our foreign trade shows satisfactory
and increasing growth. The amount or
our exports for the year 1900 over those
OF the exceptionally prosperous year of
OF the year, and these sums have gone
into the homes and enterprises Of the
people. There has been an increase of
over $50 1000, 900 in the exports of agri-
cultural products, $92, ,692, ,220 in manu-
features and Ia the products of the
mines of over S10,O00,000. Our trade
balances cannot fail to give satisfaction
to the people Of the country. In 1898 we
sold abroad S615, ,432,676 OF products
more than we bought abroad; in 1899,
So29, 1874, ,S13, and in 1900, 1914 All, ,701,
making during the three years q total
balance In our favor Of $1,6S9, 779, 100,
nearly five times the balance Of trade in
our favor for the whole period of los
years from 1890 to June 80, 1897, inclu-
sive.
-Four hundred and thirty-six million
dollars OF gold has been added to the gold
stock Of the United States since July 1,
1896 The law of March IA, 1900, au-
thorlxed the refunding into per cent
bonds OF that part of the public debt rep
resented by the 3 per cents due in 1908,
the per cents due in 1907 and the per
cents due in 1904, aggregating $S40. .000,-
900. More than one-third of the sum Of
these bonds was refunded In the first
three months after the passage of the
act, and on Sept. l this sum had been in
creased more than $33, 100000, making
in all $3.50, ,050, resulting in a net
saving OF over SS,379, $50. The ordinary
receipts OF the government for the fiscal
year 1900 were $40. 527 ,060 In excess of
its expenditures.
The BOer-British War.
In the unfortunate contest between
Great Britain and the Boer states of
South Africa the United States has
maintained an attitude OF neutrality in
accordance with its well known tradi
tioual policy. 1t did not hesitate, how
ever, when requested by the governments
OF the South African republics, TO exer
else its good offices for a cessation OF
hostilities. 1t is to be observed that
while the South African republics made
' like request OF other powers the United
States is the only one which complied
The British government declined to ac-
cept the intervention Of any power.
Ninety-one per cent Of our exports and
imports are now carried by foreign ships.
For ocean transportation we pay annual
ly to foreign shipowners over $185, ,000.-
900. We ought to own tho ships for our
carrying trade with the world, and we
ought to build them in American ship
yards and man them with American
sailors. Our own citizens should receive
the transportation charges now paid to
foreigners. / have called the attention
OF congress to this subject in my several
annual messages.
The IsthmiaR Waterway.
A subject of immediate Importance to
our country Is the completion or great
waterway Of commerce between the At
lantic and Pacific. The construction OF
maritime canal Is now more than ever
Indispensable to that intimate and ready
communication between our eastern and
western seaports demanded by the an
nexation Of the Hawaiian Islands and
the expansion of our Influence and trade
in the Pacific.
Our national policy more imperatively
than ever calls for It's completion and
control by this government. and It is be-
lieved that the next session Of congress,
after receiving the full report of the
commission appointed under the act ap.
proved March 3, $780, will make pro-
visions for the sure accomplishment OF
this great work.
Combinations OF capital which control
the market in commodities necessary to
the general use of the people by sup
pressing natural and ordinary compex.
ton, thus enhancing prices to the gen
erai consumer, are obnoxious to the COM
mon law aud the public welfare. They
are dangerous consplracies against the
public good and should he made the sub
ject OF prohihitory or penal legislation.
Publicity will be helpful influence TO
check this evil, Uniformity Of legisla
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