Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1900-12-06

A OG AA6ICSIS SOO0 us
position in this regard has been evinced
by the issuance of an trade for rebuild
ing the American college at Harpoot.
Would Extend Reciprocity.
He urges the approval of the CONNER
cial conventions entered into between
this government and other powers as
other industries of the country may profit
thereby. Continuing on this subject he
avs
rests upon the principles of international
equity and has been so repeatedly ap-
proved by the people CO the United States,
that there ought to be no hesitation in
either branch of the ongress in giving
to it full effect
Exposition at Buffalo.
The exposition Of the resources and
PRODUCTS of the western hemisphere to be
held at Buffalo next year promises impor-
tant results not only for the United States
but fer the other participating countries
It is gratifying that the LaCin-Amerfcan
states have tV;nced the l~iveliest interest.
ard the fact that an international Ameri-
can congress VIII be held in the City of
Mexico while the exposition is in progress
encourages the hope OF q larger display at
buffalo than might otherwise be practic-
our national resources is making sat1sfae-
tory progress under the direction of diff
ferent officials of the federal government,
and the various states OF the union nave
shown a disposition toward the most lib
eral participation in the enterprise.
Our financial Showing.
The president points with much pride
to the showing made by the treasury de-
Partment and quotes eXhauStIvely from
the repOr of Secretary Gage He shows
the surplus for the year to be $79. 527, 060.18,
ano eStln1ates the surplus OF the coming year
atSSO,GOO,0g0- HeSays thep present condition
of the treasury is one of u~nCoubted strength.
The available cash balance November 80
was $780, 94.50. Under the form or
statement prior to the financial law of
March "A last this would have been in
Guided in the statement of available cash
gold Pnin and hIllinn held for the rP6amn.
ton of United States notes.
Further Legislation.
He recommends further financial legis-
lation in the following words:
be the disposition OF the congress to pro-
vide whatever further legislation is need
ed to insure the continued parity under
all conditions between our two forms OF
metallic money, silver and gold.
Our surplus revenues have permitted the
secretary of the reasury since the close
of the fiscal year to call in the funded loan
OF 1881 continued at two per cent, In the
ygmbe OF g S23' 81 81 :5 20 100 TO and inelading No
been paid This sum, together with the
amount which may accrue from further
piled to the sinking fund.
The law of March "A, 1900, provided for
refunGing into two per cent. 30-year bonds.
payable, principal and interest, in gold
coin of the present standard value, that
portion of the public debt represented by
per-cents Of 1907 and the fve-per-cents
of 1900. of which there was outstand-
ing at the Gate of said law 1898, 49,
$50. The holders of the old bonds presented
them for exchange March IA and Novem-
Der 80 to the amount of 1854, 943, $50. The
net saving to the government on these
transactions aggregates S9.106, 166.
banking Facilities
The beneficial effect of the financial act
of 1860, So far as it relates to the modifi-
catlGn OF the national banking act, is all
ready apparent. The nroyision for the
Incorporation Of national banks with a
capital of not less than $4,000 in places
not exceeding 5000 inhabitants has result
ed in the extension Of banking facilities
to many small communities hitherto I'M
able to provide themselves with banking
There We're Organized from the enact
ment OF the law up to and including
103 with capital of $4,000 or more.
1t is worthy of mention that the greater
the new law are in sections where the
need of banking facilities has been most
banks of the smaller class, while Texas,
oklahoma, Indian territory and the mid
die and western sections of the country
the privileges under the new law.
ANOTHER effect of the operation, as stated
upon the treasury for the payment of
interest from the dates of ~refunding to
February l. 1904; by the sum Of more than
to July 1, 1907. the annual interest will
be reduced by the sum of more than
August 1, 1908, by about 81, 10000. The full
details of the refunding are given in the
annual report of the secretary of the treas
ury.
Our Foreign Trade.
Our foreign trade shows a remarkable
record Of commercial and industrial prog
ress. The total of imports and exports
country exceeds 1900 900, coo. III exports
are greater than they have ever been
being befDge' 81 . .ss4, a ss.os2, io an the Increase ease e o over 1888 1888
oo s SsS '4 oy 81 Soi is an in d9c ss E $50 oyer Hss a aSss OF prs sa5s,r
The growth of manufactures in the
United States is evidenced by the fact
exceed those of any previous year,
their value for 1900 being $433, S51 $50,
1886, $50. 146 in 1899, an increase of
Agricultural products were also export,
l2s. against s7s9, 776.1 l2 in 1893.
The imports for the year amounted to
sS4 941 ISL an increase oyer 1899 OF sls2,-
rails for manufacture, and is in response
the rapid development of manufactur-
ing in the United States. While there
was imported for use in manufacture in
1900 material to the value of SIS, 76S, 972 in
excess of 1899. it is reassuring to observe
that there is a tendency toward decrease
in the importation of articles manufac-
tured ready for consumption: which in
1SUU OTIHC 1Olt pei Ell VI lhS l.
import, against 1854 per cent. in 1899 and
LOG per cent. in 1896,
The Internal Revenue Tax.
1 that the congress at its
present session reduce the internal rev
enue taxes imposed to meet the expenses
Of the war with Spain in the sum of $780,
900. This reduction should be secured
the remission of those taxes which ex-
oerience has shown to be the most bur-
iensome to the industries of the people.
I specially urge that there be included in
reJ-ar rn61IPTinn iS made he LEGACY IA
for public uses of a literary, edu-
.cational or charitable character.
Recommends Ship Subsidy.
American vessels during the past three
Of our exports and imports. Foreign hip
should carry the least. not the greatest.
of our steel industries, the prog
ress of shipbuilding for the domestic trade,
our steadily maintained expenditures
'or the navy. have created an opportuni- |
ty to place the United States in the first
rank of commercial maritime powers.
Besides realizing a proper national as
this Will mean the establishment
healthy growth along all our coasts |
of a distinctive national Industry, expand
ng the field for profitable employment
Of labor and capital. 1t will increase the
TRANSFORMATION facilities and reduce freight
,harges on the vast volume of product |
brought from the interior to the seaboard
for export, and will strengthen an arm |
ounders of the government and their
have relied.
The Trust Question.
The trust question receives the atten-
ton of the president, and he says:
'It is apparent that uniformity of legis-
Lation upon this subject in the several
states is much to be desired. 1t is to be
hoped that such uniformity, founded in a
and just discrimination between what |
Is injurious and what is useful and neces- |
;ary in business operations, may be OBJ
tanned, and that means may be found for
congress, within the limitations of its |
Constitutional power. SO to supplement an
code of state legislation as to