The Owosso times. (Owosso, Mich.) 1897-1926, 1900-09-14

City convention. Nothing has been
omitted or recalled; so that all the per-
lis then threatened are presented anew
with Vie added force of a deliberate
reaffirmation.
PROTECTION AND THE FINANCES
Payment of United States Bonds-nation-
al Income and OutgO.
The Republican party remains
faithful to Its principle of a protective
tariff which supplies sufficient rev.
enues for the government and ade-
quate protection to our enterprises and
producers; and of reciprocity 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
Republican victory to be written into
public law.
The present congress has given to
Alaska a territorial government for
which it had waited for more than a
quarter Of century; has established a
representative government In Hawaii;
has enacted bills for the most liberal
widows; has revived the free home
stead policy. In it's great financial
law 1t provided for the establishment
OF banks Of issue with a capital of $25,-
600 for the benefit of the villages and
rural communities, and bringing the
opportunity for profitable business in
banking within the reach of moderate
capital Many are already availing
themselves of thiS Drivilepa
During the past year more than
$1O,OOO,00O of United States bonds
have been paid from the surplus rev.
enues OF the treasury, and in addition
S2o.OOO,OOO Of 2 per cents. matured,
called by the government, are in proc
ess Of payment. Pacific railroad bonds
issued by the government in aid Of the
roads In the sum Of nearly $40,O0O,000
have been paid since Dec. 81, 1897.
The treasury balance Is in satisfactory
condition, showing on Sept. 1 Sl35.-
$4,000, in addition to the $3.50, 100000
gold reserve held in the treasury. The
governments relations with the Pa
cific railroads have been substantially
closed, 1924, 421 900 being received
from these roads, the greater part In
cash and the remainder with ample
securities for payments deferred. In
stead Of diminishing, as was predicted
four years ago, the volume of our cur
rency is greater per capita than 1t
has ever been. 1t was S21.10 in 1896.
1t had increased to $26.50 on July 1,
1900, and $26.S5 on Sept. 1, 1000. Our
total money on July /, 1896, was ST..
soc, 434,9 66: on July /, 1900. 1t was So
O62 ,425, 496, and $2,096, 6S3 042 on Sept.
1, 1900.
"Our industrial and agricultural con-
ditiOns are more promising than they
have been for many years; probably
more so than they have ever been.
Prosperity abounds everywhere
throughout the republic. | rejoice that
the southern as well as the northern
states are enjoying a full share Of
these improved national conditions and
that all are contributing so largely
to our remarkable Industrial develop
ment. The money lender receives low
err rewards for his capital than If 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 producing them, have adj
vanced in value.
sour foreign trade shows satisfac-
tory and increasing growth. The
amount of our exports for the year
1900 over those Of the exceptionally
prosperous year Of 1899 was about half
q million dollars for every day of the
year. and these sums have gone into
the homes and enterprises of the peo-
pie. There has been an increase OF
ovr S50,000.00O In the exports Of agr;-
cultural products; 500 GD2 220 in maru-
features, and in the products Of the
mines over $10.000,000. Our trade bal
ances cannot fail to give satisfaction
to the people Of the country. In
1895 we sold abroad S616.432 .676 of
products more than we bought abroad;
in 1919 3d.. 81 ,Si3, anu il 1900 SJ4i,-
Al. 701, making during the three years
a total balance in our favor Of ST.
$50, 10, 190-nearly five times the bal
ance Of trade IN or favor for the
whole period of 10S years from 1870
to June 30. 1907. inclusive.
-Four hundred ana thirty-six million
dollars of gold have been added To the
gold stock of the United States since
July 1, 1896. The law OF March J.,
1900 authorized the refunding into
per cent. bonds Of that part Of the
public debt represented by the 3 per
cents. due in las, the per cents.
due in 1907, and the 3 per
cents. due in 1904, aggregating $780,
100000. More than third Of the
sum Of these bonds was refunded in
the first three months after the pas
sage of the act, and on Sept. / the
sum had been increased more than
Ss33, 100000, making in all $780,
57S,O5O, resulting in net saving
of over $S,379,520. The ordinary re-
ceipts of the government for the fiscal
year 1900 were S79,527,0 GO in excess
Of it's expenditures.
while our receipts both from GUS
toms and internal revenue have been
greatly increased. our expenditures
rave been decreasing. Civil and mis-
4, ,..aneous expenses for the fiscal year
erdrg June 80. 1900. were neatly $14.-
C9n .CDO less than I'm 1899, while on the
war account there Is decrease of
,lore than 500 100000. There were re-
rrired SS.OG1,nO0 less to support tn.
aavv this year than last. and cxpendi-
r,lres on account Of Indians were near
V tWO and thf 'e quarter million dol.
irs less than in 1899. The only two
rs o. increase I'm the public ex-
~. .isIs OF 1900 over 1899 are for pen.