The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1900-12-07

~ lnC R1A NoA6S ia liz 1hlIC4 9OhN--
bands deposited as security instead Of
only 80 per cent. thereof, as heretofore.
The increase in circulating notes from
March 18th to November Goth Is 81 $751;
$40.
The party in power is committed TO
such legislation as win better make tine
currency responsive TO the varying
all sections.
Our Foreign Trade.
Our foreign trade shows a remark
able record of commercial and indus
trial progress The total Of imports and
exports for the first time in h history
OF h country exceeded 81, 100, 000, 900.
The exports are greater than they have
ever been before, the total for the fiscal
year 1900 being 81, 1874, Asa, 0S2, an increase
over 1899 of s167, ass, 7S0, an increase over
1898 of s163 600, 1852. owe 1897 of s343, 49,
$40, and greauer than 1896 by ssh, S76,-
IA.
The growth of manufactures in the
United States is evidenced by the fac,
that exports OF manufactured products
largely exceed those of any previous
year, their value for 1900 being S433. $751;
$50, against 1898, 592, LAG in 1899, an in
crease Of % per cent.
Agricultural products were exported
during 1900 in greater volume than 1899,
the total for the year being $685., $751;
123. against 1874, 776, 142 in 1893.
The imports for the year amounted TO
$S49, gal ,1S4, an increase over 1899 OF $751;.
s2,6s5. This increase is largely in ma
terlalS for manufacture, and is in re-
Spouse to the rapid development of
manufacturing in the United States.
While there was imported for use in
manufactures in 1900 material to the
value Of $79.76S,97 q in Excess of 1899, i:
ia rQQ ccI1v.in Or tn ahcar-ra +Lo+ ta1-o T.:
tendency toward decrease in the i'm
portation Of articles manufactured
ready for consumption, which in 1900
formed 15.17 per cent Of the total i'm
ports, against 1854 per cent in 1899 and
2l.O9 per cent. in 1896.
To Reduce Taxes.
l recommend that the congress at its
present session reduce the Internal
revenue taxes imposed to meet the ex-
penses of h war with Spain in the
sum of $50, 1000 600. This reduction should
be secured by the remission of those
taxes which experience has shown to
be the most burdensome to the indus
tries Of the people.
l specially urge that there be included
in whatever reduction is made the Ie-
gacy tax requests for public uses of a
literary, educational or charitable char
acter.
Our Aercn2nt Marine.
American vessels during the past
three years have carried about 9 per
cent. of our exports and imports. For
eign ships should carry the least. not the
greatest, part of American trade. The re-
markable growth of our steel industries.
the progress of shipbuildng for the do
nestle trade, and our steadily main
tanned expenditures for the navy have
created an opportunity to place the
United States in the first rank of COM
mercial maritime powers.
Besides realizing a proper national
aspiration this will mean the establish
ment and healthy growth along all our
| "a of a distinctive national indus
try, expanding the field for the profit
able employment of labor and capital.
1t Will increase the transportation ia
cilities and reduce freight charges on
the vast volume Of products brought
from the interior to the seabos.rd for
export, and Will strengthen am arm
of the national defense Upon which the
founders of the government and their
successors have relied. In again urg-
ing immediate action by the
on measures to promote American
shipping and foreign trade, 1 direct at
tention to the recommendations on tn :
subject i'm previous messages, and par
t1cularly to the opinion expressed in
the message of 1899:
L am satisfied h Judgment of the
country favors the policy of aid to our
merchant marine, which will broaden
our and markets and upbuild
our sea-carrying capacity for the pro-
ducts or and manufacture
which, with the increase Of our navy.
mean more work and wages to our
countrymen. as we'll as a safeguard
to American interests in every part of
the world"
The attention of the ongres is in
v7ted to the recommendation of the
secretary of the treasury i'm his annual
report for Legislation in behalf of the
revenue-cutter service, and Favorable
action is urged.
Trusts and MonopoIies.
In my last annual message to the
congress / called attention to the ne
ceSSity for early action to remedy
such evils as might be found to exist in
connection with combinations of CAPT
tai organized into trusts, and again in
wife attention to my discussion of the
subject ait that time, which concluded
with these words:
ct Is apparent tina uniformity of leg
i~slation upon this subject in the sew
eral states is much to be desired. 1t Is
to be hoped that such uniformity
founded in a. wise and just discrimina-
ton between what is injurious and
what is useful and necessary in bust.
ness operations, may be obtained
and that mea may be found for the
congress, within the limitations of its
constitutional power, so to supplement
an effective code of state Legislation
as to make a complete system of law'
throughout the United States adequate
to compel a general observance of the
salutary rules to which 1 have re-
ferred.
THE whole question is so important
and far-reaching that 1 am sure nC
part of it viii be lightly considered
but every phase of it will have ths
studied elaboration Of the congress
resulting in wise and judiciouS action
Restraint upon such combinations a:
are injurious, and which are within
federal jurisdiction, should be prompt,
applied by the congress-.
The Philippines.
In my last annual message / dwell
at some ZENITH upon h condition
of affairs in the Philippines. While
seeking to impress upon you that th'
grave responsibility Of the future gov
orprapf IF those islands rests with