Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1911-12-28
TAFT STRONG FOR
CURRENCY REFORM
President Sends Special Mes
sage to Congress on Ma
TONS Finances.
CUT IN EXPENSES is SHOWN
Postoffiee Department Shows Surplus
for First Time in ~ Years
Hopes Monetary Reform Will
Not Be Made Party Issue
Urges Parcel Post.

Washington.-President Taft sent .
special message to congress dealing
with the finances of the country. The
message in part follows:
The financial condition of the govern
ment, as shown at the close Of the last
fiscal year, June 80, 1911, was very salts
factory. The ordinary receipts into the
general fund, excluding postal revenues,
amounted to SOL, 372, 374.99, n the dis
bursements from the general fund for
current expense and capital outlays, ex-
Guiding postal and Panama Canal dis
bursements, including the interest on the
public debt, amounted to 1854, 377 ,907.SS,
ieaving a surplus of SAT ,234, S77.10.
The postal revenue receipts amounted
TO $237,S SIS, 1923. 60, while the payments made
Tor the postal service from the postal
revenues amounted to s237, $50, 7O5. as, which
left a surplus of postal receipts over dis
bursements of $219, lisp, the first time In
n years In which a surplus occurred.
The interest-bearing debt of the United
States June 30. 1911, amounted to $685.
b3, 1870. Teh debt on which interest had
leased amounted to $3.50, S3o.26, and the
debt bearing no interest, including green
backs, national bank notes to be redeem
ed. and fractional currency. amounted to
1886, 751, 917.43, or a total Of interest and
lon-interest bearing debt amounting to
81 1903, 1884, 1887 1859.
The actual disbursements, exclusive Of
those for, the Panama Canal n for the
postal service for the year ending June
30. 1911, were 1854, 1877, 997.S9. The actual
disbursements for the year ending June
20, 1910. exclusive Of the Panama Canal
and the postal service disbursements,
were 1868. 705, S91.OS, making a decrease Of
1885,, 393,19 in yearly expenditures in the
year 1911 under hat of 1910. For the year
ending June 30, 1912, the estimated re-
ceipts, exclusive of the postal revenues,
are 1856, 000,000, while the total estimates,
exclusive of those for the Panama pay
able from the postal revenues. amounted
to 1854, S42, 1888 This Is a decrease in the
1912 estimates of 1854, 1922.
For the year ending Tune 30, 1918, the
estimated receipts, exclusive of the pos
tai revenues, are $685., 0C0, 600, while the
total estimated appropriations, exclusive
Of the Panama Cana and postal dis
easements payable from postal revenues,
will amount to s637, 800, 800. 35. This is a
decrease In the 1918 estimates from that
Of the 1912 estimates of 1921, 1886. 80.
AS to the postal revenues, the expan-
sion of the business In that department,
the normal increase in the post office
and the extension of the service, will in
crease the outlay to the sum of $3.50, 93S, :
1863; but as the department was self-sus-
tanning this year the postmaster general
is assured that next year the receipts
will at least equal the expenditures, and
probably exceed them by more than the
surplus of this year. 1t is fair and equit-
able, therefore, in determining the econ
ony with which the government has been
run, to exclude the transactions of a de-
partment like the post office department,
which relies for it's support upon its re-
ceipts. In calculations heretofore made
for comparison of economy in each year.
It has been the proper custom only to
include in the statement the deficit in the
post office department which was paid out
of the treasury!
In the treasury department the eficien-
cy and economy work has been kept
steadily up. Provision is made for the
| elimination of 1874 positions during the
coming year. Two hundred and sixty
seven statutory positions were eliminated
during the last year in the office Of the
treasury in Washington, and al positions
in the year 1910, making ar elimination
of 542 statutory positions since March 4,
1909; and this has been lone without the
discharge of anybody, because the nor
NAL designations and deaths have been
equal to the elimination Of the places, a
system of transfers having taken care
of the persons whose positions were
dropped out. In the field service of the
department, too, 1859 positions have been
eliminated down to the present time, ma
king a total net reduction of all treasury
positions to the number of 1901. Mean
time the efficiency of the work Of the
department has increased.
-H. 4
Monetary Reform.
A matter Of first Importance that will
come before congress for action at this
session is monetary reform. The con-
gress has itself arranged ar early intro
duction of this great question through
the report OF Its monetary commission.
This commission was appointed to rec
ommend a solution of the banking and
currency problems so long confronting
the nation and to furnish the facts and
data necessary to enable the congress
20 take action.
In order to do its work with thorough
ness and precision this commission has
\ taken some time to make its report. The
country is undoubtedly hoping for as
prompt action on the report as the con-
veniences of the congress can permit.
The recognition Of the gross imperfec-
tons and marked inadequacy Of our
banking and currency system even In our
most quiet financial periods is of long
standing; and later there has matured a
recognition of the fact that our system
is responsible for the extraordinary de-
vastation. waste and business paralysis
Of our recurring periods OF panic. Though
the methods of the monetary commission
have for q considerable time been work
Ing In the open. n while large numbers
of the people rave been openly working
with them, and while the press has large
ly noted and discussed this work as 1t
has proceeded, SO that the report OF the
commission promises to represent a ma
honal movement. the details OF the re-
port are still being considered. I can
not, therefore. do much more at this time
thar commend the immense fmportance