The San Francisco call., 1903-12-08

From all sources, exclusive Of the postal SER
vice, the receipts OF the Government for the
last fiscal year aggregated $500, ,396, GA. The
expenditures for the same period were $685.,
099 COZ, the surplus for the fiscal year being
$54, 297, 657. The indications are that the sur
plus for the present fiscal year viii be very
small. II indeed there be any surplus. From
July 10 November the receipts from customs
than the receipts from the for
corresponding portion Of last year. Should this
decrease continue at the same ratio through
out the fiscal year. the surplus would be re-
duced by, approximately, thirty millions dol
lars. Should the revenue from customs suf-
fer much further decrease during the fiscal
year, the surplus would vanish. A large sur
plus is certainly undesirable. Two years ago
the taxes were taken off with the express
intention of equalizing the governmental re-
ceipts and expenditures, and though the first
year thereafter still showed surplus it now
seems likely that substantial equality Of rev.
enue and expenditure will be attained.
Such being the case IT is Of great moment
both to exercise and economy in appro-
priations. and TO scan sharply any change in
our fiscal revenue system which may reduce
our income The need Of strict economy in
our expenditures is emphasized by the fact that
cannot afford to be parsimonious in pro-
vidirg for what is essential TO our national
Wel-being Careful economy wherever possi-
bic viii alone prevent our income from falling
below the point required In order to meet our
The integrity Of our currency is beyond
question. ard under present conditions it
a reconstruction of our entire monetary sys-
TEN. The same liberty should be granted the
Secretary OF the Treasury to deposit customs
receipts as is granted him in the deposit OF
receipts from other sources In my message
OF December q 1902, called attention to GER
tain needs OF the financial situation, and 1
again ask the consideration of the Congress
for these questions.
During the last session of the Congress, at
the suggestion. Of joint note from the repub-
lie Of Mexico and the imperial Government OF
China, and in harmony with an act of the
Congress appropriating $4,000 to pay the ex-
penses thereof, a commission was appointed to
Wi princfpal FurODean cOUufrfeg
in the hope that some plan might be devised
whereby a fixed rate Of exchange could be as
sured between the gold standard countries and
sion has fled its preliminary report, which has
been made public. deem IL important that
the commission be continued and that a sum
OF money be appropriated sufficient to pay the
expenses OF its further labors.
a majority Of people desire that steps
ping. that we may once more resume
former position in the ocean carrying trade.
But hitherto the differences OF opinion to
the proper method Of reaching this end have
been so wide that il has proved impossible 10
secure the adoption Of any particular scheme.
Having in view these facts, / recommend that
the Congress direct the Secretary Of the Navy,
the Postmaster General and the Secretary Of
Commerce and Labor, associated with such q
representation from the Senate and House OF
Representatives the Congress in its wis
dom may designate, TO serve a commission
for the purpose OF investigating and reporting
70 the Congress at its next session what legis-
lation is desirable or necessary for the devel-
oprnent OF the American merchant marine and
American commerce. and incidentally Of a ma
tional ocean mail service Of adequate auxiliary
naval cruisers and naval reserves.
While such a measure is desirable in any
event Il Is especially desirable at this time in
view Of the fact that our present governmental
contract for ocean mail with the American