The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1900-12-08

Our Financial Showing.
The president points with much pride
to the showing made by the treasury de
partment and quotes exhaustively from
the report OF Secretary Gage. He shows
the surplus for the year TO be T96yl.06O. IL
| and estimates the surplus of the coming year
atss0.000.0oo. Hesays the present condition
| of the treasury Is one of undoubted strength
The available cash balance November 3
| was $3.50, SW s9t50. Under the form OF
statement prior TO the financial law oil
March IL last this would have been In
cluded In the statement OF available cash
gold coin and bullion held for the redemp-
| ton OF United States notes,
Further Financial LegisIntion.
He recommends further financial legis-
lation In the following words:
Ii Will be the duty as am sure II will
vide whatever further legislation is need
ed TO insure the continued parity under
all conditions between our two forms OF
| metallic money. silver ard 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 at two per cent, In the
sum osAs25. 36i5OO To and including No
vember 80. s23, 100 OF these bonds have
amount which may accrue from further
redemptions under the call, will be APP
piled to the sinking fund;
The law of March IA. 1900. provided for
| refunding into two per cent. 3o-year bonds,
| payable, principal and interest. In gold
| coin OF the present standard value, that
the ree-per-cent bonds of 1908. the four
per-ctnts of 1907 and the five-per- cents
OF 1900 Of which there was outstand-
| ing at the date of said law $3.50, 49,
| 93O. The holders of the old bonds presented
them for exchange March IA and Novem-
Der 80 to the amount of s36i,943 $50. The
| net saving TO the government on these
| transactions aggregates 50. LOG. 166.
banking Facilities Extended.
| The beneficial effect of the financial act
| or 100, SO far as II relates to the modif-
cation OF the national banking act, is al
| incorporation Of national banks with n
capital of not less than $4,000 in places
| not exceeding 1900 inhabitants has result
ed in the extension of banking facilities
TO many small communities hitherto un-
able to provide themselves with banking
here %eTe ss
ment of the law up to and including
November 80, 1863 national banks of which
2j6 We're with capital less than $4,000 and
100 with capital of $4,000 or more.
1t Is worthy of mention that the greater
number OF banks being organized under
need of banking facilities has been most
pronounced. Iowa stands first. with so
banks of the smaller class, while Texas,
Oklahoma, Indian territory and the mid
die and western sections of the country
have also awaited themselves largely of
the privileges under the new law.
Our Foreign Trade.
Our foreign trade shows a remarkable
ress. The total of imports and exports
for the first time in the history of the
are greater than they have ever been
before, the total for the fiscal year 1860
being S,S9i, is3,Os2. an increase over 1899
0Oo, 752, over 1897 Of S343 ass, 500, and greater
than 1896 by s5llS16lii.
The growth OF manufactures in the
United States Is evidenced by the fact
that exports of manufactured products
largely exceed those of any previous year,
their value for 1900 being Si33, SOL, 156.
against $500 ,592, l46 in 1882 an increase of
2s per cent.
Agricultural products were also export
ed during 1909 in greater volume tia than a. in
1892 the total for the year being $685., $685.
1913. against sis4,776,142 in 1899.
The imports for the year amounted 70
sSds&l'lsli an increase oyer 1879 Of si52 :
rails for manufacture. and is in response
to the rapid development of manufactur-
ing in the United States. While there
1900 material to the value of s797GS,Si2 in
excess of 1882 1t is reassuring TO observe
in the importation OF articles manufac-
tured ready for consumption, which in
1900 formed l517 per cent. of the total
import, against 15.Ji per cent. In 1899 and
2l.09 per cent in 1896.
Tho Internal Revenue Tax.
recommend that the congress at its
present session reduce the internal rev.
enue taxes imposed to meet the expenses
600, 600 This reduction should be secure
by the remission of those taxes which ex-
perienee has shown to be the most bur
| specially urge that there be included In
whatever reduction is made the legacy tax.
requests for public uses, of a literary, edu-
cational or charitable character
Recommends Ship Subsidy.
American vessels during the past three
years have carried about nine per cent.
of our exports and imports. Foreign ships
should carry the least, not the greatest,
part of American trade. The remarkable
growth of our steel industries, the prog
rsss of shpbuilding for the domestic trade,
and our steadily maintained expenditures
for the navy have created an opportuni-
ty 10 place the United States In the first
rank OF commercial maritime powers.
BESIDES realizing a proper national as
and healthy growth along all our coasts
of a distinctive national Industry, expand
ing the field for. profitable, employment
transportation facilities and reduce freight
charges on the vast volume Of products
for export, and Will strengthen an arm
of the national defense upon which the
founders of the government and their
successors have relied.
The Trust Question.
The trust question receives the atten-
ton OF the president, and he says
1T is apparent that uniformity of legis-
lation upon this subject in the several
hoped that such uniformity, founded in a
wise and just discrimination between what
Is injurious and what Is useful and neces-
sary In business operations, may be OBJ
tanned, and that means may be found for
the congress. within the limitations of it's
constitutional power, so to supplement an
effective code of state legislation as to
make a complete system of laws through
out the United States adequate to compel
a general observance of the salutary rules
to which have referred.
1.-THE whole question Is so important and
far-reaching that l am sure no part of 1t
will be lightly considered. but every phase
of Ii will have the studied elaboration of
congress. resulting In wise and judicious
action.
Restraint upon such combinations as are
injurious, and which are within federal
jurisdiction. should be promptly applied
by the congress-"
The Philippines.
Considerable attention Is given the sub
ject of the Philippines. and in this con
nection the scope and work of the Phil
ippine commission as outlined to the com
missoners is fully outlined for the bene-
lions in the islands the president says:
some length upon the condition OF af-
fairs in the Philippines. While seeking
to impress upon you that the grave re-
those islands rests with the congress Of
ommending at that time specific and
al 1T Et.r. antnf for 10