The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1910-12-06

/ alluded to this most important |
subject in my last annual message. 1t |
has often been before you, and | need |
not recapitulate the reasons for its |
recommendation. Unless prompt ac- |
ton be taken the completion of the |
Panama canal will find this the only |
great commercial nation unable to
avail in international maritime bust.
ness of this great contribution to the
means of the worlds commercial inter- |
course.
For many reasons | cannot too
strongly urge upon congress the pass
age of a measure by mail subsidy or
other subvention adequate to guaran-
tee the establishment and rapid devel-
opment of an American merchant ma
rine, the restoration of the American
flag to it's ancient place upon the seas.
Estimates for Next Years Expenses
The final estimates for the year end
ing June 80, 1912, as they have been
sent to the treasury on Nov 20 of this
year for the ordinary expenses OF the
government, including those for pub
lie buildings, rivers and harbors and
the navy building program, amount to
$500, ,494 ,013.12 This is $52,964, ,SS7.36
less than the appropriations for the
fiscal year ending June 80, 1911. 1t is
S16,SS3, 3,15344 less than the total esti'
mates, including supplemental estl'
| mates submitted to congress by the
| treasury for the year 1911, and is So
| 574,659.39 les than the original estl'
mates submitted by the treasury for
1911.
These figures do not include the ap'
| preparations for the Panama canal, the
| policy in respect to which ought to be
| and is to spend as much each year as
| can be economically and effectively ex.
| pended in order to complete the canal
1 as promptly as possible, and there
| fore the ordinary motive for cutting
| down the expense of the government
| does not apply to appropriations for
this purpose, 1t will be noted that the
| estimates for the Panama canal for
| the ensuing year are more than So6,-
100000, an increase of S2O,0OO,OOO
over the amount appropriated for this
year, a difference due to the fact that
the estimates for 1912 include some
thing over S19,000,000 for the fortifica
tion of the canal.
| Against the estimates of expendi
lures, $500, 0,494, ,013.12, we have esti
mated receipts for next year $3.50,
100000. making a probable surplus o.
ordinary receipts over ordinary ex
pendifures of about S50,000,O0O, or
taking into account the estimates FOL
the Panama canal, which are $56,92O,
S4769 and which will ultimately bt
paid in bonds, 1t will leave detci
for the next year of about $7,OOO,O0C
IL congress shall conclude to fortify tht
canal The cost of the Notifications
is about S19,000,000. Should there b'
no appropriations this year for fortifi
cations then there would be, even in
GLIDING the Panama canal appropria
tion, a surplus of about $1200O,0CO.
1t is not essential to the preventing
of smuggling that customs distrfct
| should be increased in number. The
violation OF the customs laws can b'
quite as easily prevented and mucl
more economically by the revenue cut
, ter service and by the use of the spe
cial agent travelling force of the treas
ury department.
Very great improvements have beel
, made in respect to the mints and as
; say offices. Diminished Appropriation
! have been asked for those whose cor
, tinuance is necessary, and thi
, years estimate of expenses is $4,000
less than two years ago.
In the bureau Of engraving an
printing great economies have bee
effected. Useless divisions have bee
4 abolished, with the result of savin
= $4,000 this year in the total el
!, penses of the bureau despite increase
? business.
D Revenues.
As the treasury department Is tn
one through which the income OF tn
government is collected and its exper
ditures are disbursed this seems
proper place to consider the operatio
of the existing tariff bill, which b.
u came a law Aug. 6, 1870. AS an il
come producing measure the existin
tariff bill has never been exceeded b
u any customs bill.
The corporation excise tax, propo
. toned to the net income of every bus
ness corporation in the country, ha
worked we'll. The tax has been easil
collected. It's prompt payment ind
Gates that the incident of the tax hf
not been heavy. 1t offers, moreove
an opportunity for knowledge by tt
g. government of the general conditio
and business of all corporations, an
- that means by far the most importal
y part OF the business OF the country
.. the original act provision was mac
: for the publication of returns. TIL
= provision was subsequently amendt
by congress and the matter left to Il
- regulation of the president. have
!, rected the issue Of the needed regul
:, tions and have made it possible for Il
- public generally to know from an e
! animation of the record the returns
- all corporations the stock OF which
N listed on any public stock exchange