The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-12-04

roaltcatIon Of the national banking act
:. already apparent. The provision for
10 incorporation OF national banks
With A capital OF not icss than s25, 900 In
r,"rcs not exceeding three thousand In
fabI,ants has resulted In the extension
NJ banking facilities 10 many small
= Communities hitherto unable TO pro-
II yide themselves with banking institu-
dams under the national system. There
were organized from the enactment OF
tho law up to and Including November
40 36g national banks, OF which 2sG
4 were with capital less than $4,000, and
io3 with capital OF $4,000 or more.
4 Banks Under New Law.
i It is worthy OF mention thnt the
greater number OF banks being organ
4 lied under the new law are in sections
where the need OF banking facilities
has been most pronounced. Iowa stands
0,s,. With thirty banks OF the smaller
class. while Texas, Oklahoma. Indian
Territory. and the middle and western
I sections OF the country have also
K ayaIled themselves largely Of the privi.
legps under the new law.
i 4 large Increase In national bank.
4 note circulation has resulted from the
a provision OF the act which permits ma.
q iIona banks to Issue circulating notes
4 10 the par value OF the United States
4 bonds deposited as Security Instead of
only 90 per cent thereof. as heretofore.
4 The Increase In circulating notes from
4 March "A to November 30, Is S77,SS9,hTO
y The party In power Is committed to
4 such legislation as wifi better make The
currency responsive to the varying
4 needs OF business at all seasons and in
4 all sections. lt5. 5ir5lf5 IRA
4 Our foreign trade shows n remarkable
4 record OF commercial and Industrial
/ progress. Tic total OF Imports and en-
/ ports for the first time In the history Of
/ ihe country exceeded two billions OF
4 dollars. The exports are greater than
they have ever been before, the total
for the fiscal year 1900 being 1884 .4S3,-
CS2. an Increase over 1899 OF sl67 49,
$50. an Increase over 1898 of $163, 900. T5oo.
over 1897 OF s3i3.4S9,52G, and greater
than 1896 by s5ll,s76.ll4.
Growth Of Manufactures.
The growth OF manufactures in the
United States Is evidenced by the fact
that exports Of manufactured products
largely exceed those OF any previous
ycar. their value for 1900 being $780,
Sil.1i6, against 1893 ,592,l46 in 1S99, an
Increase OF rs per cent.
Agricultural products were also ex-
ported during 1900 In greater volume
than In 1899. the total for the year being
SS25.S5S,l23. against $7S4,776,142 In 1890.
The imports for the year amounted
10 Si9,Ml ,lSi, nm increase over 1899 OF
SIS? 1872, 69j. This increase Is largely In
materials for manufacture. and Is In
Ih.. mt la, ntr,. -
manufacturing In the United States.
While there was imported for use in
manufactures IN 1900 material to the
value OF $79.IGS,9I2 Ia excess OF 1899. 1t
Is reassuring to observe that there Is n
tendency toward decrease In the mpor-
iRtlon of articles manufactured ready
for consumption. which, in 1900. formed
ELI per cent of the total imports.
against l554 per cent In 1899 aud 21.lo
per cent In 1896.
| recommend that the Congress, ut
Its present session, reduce the Internal
revenue taxes Imposed to meet the eX-
pcnses OF the war with Spain In The
sum OF thirty millions OF dollars. This
reduction should be secured by the re-
mission OF those taxes which expert
encc has shown to be the most burdon-
some to the industries OF the people.
Legacy Tax Bequests.
specially urge that there be ill.,
Guided In whatever reduction Is made
the legacy tax beQuests for public uses
Of literary, educational, Or charitable
Character
American vessels during the past
three years have carried about per
cent OF our exports and imports. For-
HICr r1,InS uhp,nJ pnr In
the greatest, part OF American trade.
The remarkable progress of shipbutld-
Ing for the domestic trade, and our
steadily maintained expenditures io-
The navy have created an opportunity
10 place the United States In tho frat
rank OF commercial maritime powers.
Besides realizing a proper national
aspiration this viii mean the estab-
lIshment and healthy growth along all
our coasts OF n distinctive national IN
dustry. expanding the field for the pro-
ntablc employment of labor and capi-
tai. II will increase the transportation
facilities and reduce freight chargcs'on
III? vast volume of products brought
from the interior to the seaboard Tor
Export, and will strengthen an arm OF
the national defense upon which the
founders Of the government and their
nNCCvSsbIs lluNe EtlleN.s III tEuii W
Ing Immediate action by the Congress
m measures To promote American
shipping and foreign trade. direct at
tentIOn TO the recommendations on the
subject In previous messages. and pac-
t!cuiarly to the opinion expressed In the
message Of 1859.
Merchant Marine.
81 am satisfied the judgment OF the
country farors the policy Of MD to our
merchant marine, which will broaden
our commerce and markets and upDuild
our sca-carrylng capacity for the pro-
ducts OF agriculture and manufacture,
which. with the Increase or our navy.
mean more work and wages to our
countrymca. as well ns n safeguard to
American interests In every part OF The
world"
The attention OF the Congress is In
rIted to the recommendation OF The
secretary OF the treasury In his annual
report for legislation In behalf OF the
rerenue cutter service, and favorable
action Is urged.
In my last annual message to the Con-
grcss called attention to the necessity
for early action to remedy such evils rs
might bo found to exist In connection
with combinations OF capital organized
Into trusts, and ngain invite attention
to my discussion of the subJcc, at that
time, which concluded with these words:
1T Is apparent that uniformity OF leg
islat!on upon this subject In the several
states Is much to be desired. 1t Is to be
hoped thnt such uniformity. founded In
R wise and Just discrimination between
what IL Injurious and what !s useful
anu necessarily In business operations,
may be obtained. and that means may
20 found for the Congress. within the
limitations of It's constitutional power.
70 to supplement an effective code Of
state legislation as to make n complete