The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1904-06-22
ROOT OUTLINES THE CAMPAIGN
Makes Stirring Speech on Taking Chair
IS Temporary Chairman OF Republic
can National Convention

- punished without regard TO political
personal relationsg
- Have we not had an effective govern
81 ment? Have not the laws been Ell
- forced? Has not the slow process
y legislative discussion upon many SCI
y ious questions been brought to prac
! tical conclusions embodied In benetlcig
e statutesg and has not the executiv
/ proceeded without vaeillation or weak
y ness TO give these effect? Are not tn
'e laws of the United States obeyed a
E. home? and does not our governmen
! command respect and honor through
d out the world?
n Have We not had safe and con
servattve government? Has not prop
erty been protected? Are not the fruit.
n of enterprise and industry secure
$ What safeguard OF the constitution 70,
I vested right or individual freedom has
: not been scrupulously observed? Wher
, has any American administration ever
. dealt more considerably and wisely
} with questions which might have been
: the cause of conflict with foreign pow
Iers? When have more just settlements
been reached by peaceful means? When
has any administration welded more
powerful influence for peace? and
when have we rested more secure In
friendship with all mankind?
Taxes Four Years Ago.
Four years ago the business OF the
country was loaded with burdensome
internal taxes, imposed during the war
with Spain. BY the acts Of March 2
1901, and April 12. 1902, the country
has been wholly relieved of that an
nual burden of over s100, 900, 900: and
the further accumulation of sur
plus which was constantly withdraw
Ing the money Of the country from cir
culation has ben prevented by the re-
duction of taxation.
Between June 80, 1900. and June I
1904, our treasury department collected
in revenues the enormous sum OF 50
2OS,OOO,O00 and expended $2,O2S. .OO0, 600.
leaving US with surplus of over $780,
100000 after paying the s50,OOO,OOO for
the Panama canal and loaning $4,000
600 to the st. Louis exposition. Ex-
Guiding those two extraordinary pay
ments, which are investments from mast
surplus and not expenditures OF current
income. the surplus for this year will
be the reasonable amount of about s12.-
BOO, 900.
The vast and complicated transac-
tons of the treasury, which for the 4,
ast fiscal year show actual cash re-
,eipts Of $4.250, ,290,262 and disburse-
nents Of $4.11S,1ss,414. have been con-
iucted with perfect accuracy and fidel- !
ty and without the loss OF a dollar. !
Under wise management the financial 4
Ict OF March IA, 1900, which embodied i
he sound financial principles of the
epubiican party and provided for the n
Of our currency on the u
able basis OF the gold standard, has n
wrought out beneficient results. on h
november l, 1899, the interest bearing
ebt Of the United States was S1.046.- a
5000. In May l last the amount of 4
nat debt was $S95.157,440, a reduction ,e
$l5O,S9l,5S0. BY refunding, the an =
ual interest has been still more randi q,
reduced from $4O,347,sS4 on No :,
ember l, 1899, to s24.176,745 on June .,
1904, an annual saving of over $16.- az
10000. When the financial act was 90
assed the thinly settled portions of =.
ir country were suffering for lack of 80
lnklng facilities because the banks 20
ere in the large towns, and none
'uld be organized with a capital OF -
ss than $5O,00O. Under the provis- ~
MS OF that act, there were organized y
'wn to May l last 1896 small banks ~
$25,OOO capital, furnishing, under all -
e safeguards of the national banking ~
stem, facilities to the small COM ~
lnities of the west and south. The ~
cilities made possible by that act ~
We Increased the circulation of ma ua
nal banks from 1854, ,402, 73O on March ~, ~
1900, to $445, 5,9SS,565 on June 1, 1904. ~,
e money of the country In circulation -,
:. srou,+h - l.s,'- - amount WIN VIII
adily gained in the stability OF the WI
sis on which it rests. On March l ,
2, when the first administration Of ~
Kinley began, we had in the country oLs e
ludlng bullion in the treasury, ST. 49,
,272,O76. This was s2314 per capita ee ee
our population, and of this SS,s93 leg lee
cent was gold. On March /, 1901 p
en- the second administration of Me- &c
hey began, the money in the country @ .ne
$2,467,295,22s. This was S28.S4 per ~ ~
'ita, and of this 45,273 per cent was a,a, 'e
d. On May last the money in the ~ ~
ntry was $2,S14,9S5,446, which was ~. aeo
O2 per capita, and of it 4S.O28 per ~ s's
I was gold. This great increase OF -
rehcy mas been arranged in such a ina,
that the large government notes in 49,
ulation are gold certificates, while W.. No.
SILVER certificates and greenbacks 80
of small denominations. AS the aL,I ~
re gold certificates represent gold d.
lally on deposit, their presentation !.
ne treasury in exchange for gold can 80
er infringe upon the gold reserve. ons
the small silver certificates and - :
are always in active circu- tLo
)n, no large amount of them can he NJ
lhlulated Tor the purpose Of draw oraI
on the gold reserve; and thus ssr
lie every man can get a gold dollar o..a
every dollar of the governments ~ ,
'ency, the endless chain which we Id,
once taught to fear SO much. has ~
effectively put out Of business e.,
secretary of the treasury has 49,
rooa a'-it 80 .i'ul VI the needs OF eren
og b,,aSais 80 =. % managed our nnan- tion
c,,rrano, ~ " eApahu ana contract pool