The Denison review. [volume] (Denison, Iowa) 1867-current, 1910-12-07

commerce as would flow from the es-
adjustment Of direct lines of COM
nunication with the countries of
Latin America adequate to meet the
requirements of q rapidly increasing
appreciation of the reciprocal depen-
dence Of the countries of the western
hemisphere upon each others prod
ucts, sympathies and assistance.
II alluded to this most important
subject in my last annual message; It
has often been before you and need
not recapitulate the reasons for its
recommendation. Unless prompt &C.
ton be taken the completion Of the
Panama canal will ind this the only
great commercial nation unable to
avail in international maritime busi-
ness of this great contribution to the
means of the worlds commercial in
tercourse."
Governmental Expense.
To no one subject does he devote
moro space than to the expense Of
conducting the various government
departments and the urgent need for
economy, and in this connection he
says:
Every effort has been made by
each department chief to reduce tho
estimated cost Of his department for
the ensuing fiscal year ending June
80, 1912. I say this In order that con.
gress may understand that these esti.
mates thus made present the smallest
sum which will maintain the depart.
ments, bureaus and Offices Of the gov
eminent and meet its other obliga-
lions under existing law, and that a
cut Of these estimates would result
In embarrassing the executive branch
of the government In the performance
of its duties. This remark does not
apply to the river and harbor esti-
mates, except to those for expenses of
maintenance and the meeting of obli-
cations under authorized contracts,
nor does it apply to the public build
ing bill nor to the navy building pro-
gram. Of course, as to these con-
gress could withhold any part or all
of the estimates for them without in
terfering with the discharge of the or
binary obligations of these functions
of it's departments, bureaus and Of
fees.
"The final estimates for the year
ending June 80, 1912, as they have
been sent to the treasury on Novem-
Der 20 of this year, for the ordinary
expenses of the government, including
those for public buildings, rivers and
harbors, and the navy building pro-
gram, amount to $63O,494, O1312. This
is $52,964,S S7.36 less than the ap-
preparations for the fiscal year end
ing June 30, 1911. 1t is S1G,SS3,153.44
less than the total estimates, includ-
ing supplemental estimates submitted
to congress by the treasury for the
year 1911, and is 1854, 659.39 less
than the original estimates submitted
by the treasury for 1911
These f1ugres do not include the
appropriations 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 eff.
fectively expended in order to COM
plete the canal as promptly as posi-
BILE, and therefore, the ordinary mo.
tive for cutting down the expense OF
the government does not apply to ap
preparations for this purpose.
Against the estimates of expendi.
4k1n HOY
ed receipts for next year $3.50, 1000, 900,
making probable surplus of ordinary
receipts over ordinary expenditures of
about $5O,00O,OOO, or taking into &C.
count the estimates for the Panama
canal, which are $56,92O,s476 60, and
which will ultimately be paid in bonds,
it will leave deficit for the next
year of about 100000, If congress
shall conclude to fortify the canal
The Tariff.
The President devotes but little
space to the subject of the tariff law,
and of it he says:
'The schedules of the rates of duty
in the Payne tariff act have been sub
jected to great deal of criticism,
some of it just, more of it unfounded,
and to much Misrepresentation. The
act was adopted in pursuance of a
declaration by the party which is re.
sponsible for it that customs bill
should be tariff for the protection
of home industries, the measure of
the protection to be the difference be-
tween the cost of producing the i'm
ported article abroad and the cost of
producing it at home, together with
such addition to that difference as
might give reasonable profit to the
home producer. The basis for the
criticism of this tariff is that in re-
spect to a number of the schedules
the declared measure was not follow,
ed, but higher difference retained or
inserted by way of undue discrimina-
ton In favor Of certain industries and
manufactures. Little, If any, of the
criticism of the tariff has been direct,
ed against the protective principle
above stated; but the main body of
the criticism has been based on the
attempt to conform to the measure of
protection was not honestly and sin
cerely adhered to-"
The Tariff Board.
The president refers to the appoint