The Yale expositor., 1903-12-11

trary and tyrannOus Interference with
the rights Of others. whether corpora
tons or individuals. then where the
Federal Government has Jurisdiction. t
will zee 20 10 that the misconduct "
stopped. paying not the slightest need To
the position or power OF the corporation.
the union or the individual. but only to
one vital faet-that f.. the question wheth-
er or not the conduct OF the individual
or aggregate OF individuals Is In ac-
cordancs with tho law OF the land. Every
man must be guaranteed his liberty and
his right TO DO as he likes with his prop
erty or his labor. so long az he does not
infringe the rights Of others. No man II
above the law and no man n below a.;
nor do We ask any mans permission when
we require him 90 obey a. Obedience to
the law IL demanded az right; not asked
as favor
Receipts and Expenditures.
From all sources exclusive OF the pos
tai service the receipts OF the govern
mcnt FOR the last fiscal year aggregated
$50 5s6. 6It The expenditures for the
same period were 500 90 COZ. the surplus
for the fiscal year being 80. G1.66i. The
Indications are that the surplus for the
present fiscal year Will be very small. n
indeed there he any surplus. From July
20 November the receipts from customs
were. approximately. nine million dollars
less than the receipts from the same
source for a corresponding portion OF last
year Should this decrease continue at
the same ratio throughout the fiscal
year the surplus would be reduced by.
approximately thirty million dollars.
should the revenue from customs suffer
much further decrease during the fiscal
year. the surplus would vanish. A large
surplus Is certainly undesirable. Two
years ago the war taxes We're taken on
With the express intention % equaiizing
the government receipts and expenditures.
and though the first year thereafter still
showed surplus. II now seems likely
that substantial equality 81 revenue
and expenditure will be attained Such
being the ease u u % great moment both
10 exercise care and economy IN appro-
printions and To scan sharply any change
In our fiscal revenue system which may
reduce our Income. The need OF strict
economy In our expenditures ~ empha-
sized by the fact that We can not AFFORD
90 be parsimonious In providing FOR what
Is essential To our national well-bciug.
Careful economy wherever possible Will
alone prevent our income from falling
below the point required an order 10 meet
our genuine needs.
Needs Of Financial Situation.
The integrity OF our currency Is beyond
question. and under present conditions II
would be unwlse and unnecessary 20 at
etary system. The same liberty should
be granted the Secretary OF the Treasury
Co deposit customs receipts as Is granted
him In the deposit Of receipts from other
sources. In my message % Dec. .. 1909.
! called attention TO certain needs OF the
financial situation. and l again ask the
consideration of the Congress for these
questions.
Gold and silver Standard.
a.
at the suggestion 81 Joint note from
the Republic OF Mexico and the Imperial
Government OF China. and In harmony
With an act % the Congress appropriate
ms 1875 600 20 pay the expenses thereof.
commission was appointed 90 confer
with the principal European countries In
the hope that some plan might be devised
whereby "A fixed rate ~ exchange could
be assured between the gold standard
countries and the silver-standard coun-
tries. This commission has filed its pre-
liminary report. which has been made
public. deem IL important that the
commission be continued and that n sum
% money be appropriated sufficient 10
pay tho expenses 80 It's further laburs.
With regards TO the Improvement OF
the American merchant marine the
President recommends that the Con
gress direct the Secretary OF the
Navy. the postmasterGenera and the
Secretary OF Commerce and Labor. as.
ISOLATED with such representation
from the Senate and House OF Repre-
sentatiyes rs the Congress In its wis
dom may designate. 90 serve as a com.
mission for the purpose OF investigat.
Ing and reporting Co the Congress at
It's next session what legislation is de-
sirable or necessary for the develop
ment OF the American merchant ma
rine and American commerce. and in
cidentally OF national ocean mail
service OF adequate auxiliary naval
cruisers and navel reserves.
on the subject OF immigration the
message calls attention to the report
OF a committee OF New York citizens
on high standing. Messrs. Arthur V.
Vriesen. Lee X. Frankel. Eugene A.
Philbin. Thomas w Hynes. and Ralph
Trautman. which deals with the whole
situation at length. and concludes with
certain recommendation for admins
trative anu legislative action. II Is
now receiving the attention OF the
/ Secretary OF Commerce and Labor.
The message continues: