Dewey County advocate. [volume] (Timber Lake, S.D.) 1910-1913, 1911-12-29
TAFT STRONG FOR
CURRENCY REFORM
President Sends Special Mes
sage to Congress- On Ma
tons Finances.
CUT IN EXPENSES is SHOWN

postoAlos Department. Shows surplu.
ser First Time In 81 Ysarse
Hopes Monetary Reform viii
Not b Made Party Issue
uross Parcel Post.
Warrington President TAFT sent a
lpecial message to congress dealing
With the finances Of the country. Tbs
noeeAge IN part follows:
The financial condition Of the govern
Aent - shown ct the close Of the last
2Dcal year. Juno 90, lo11. was very satis-
~notosy. The ordinary receipts into the
tonerAl fund. excluding postal revenues,
Anounted to $0l, 81. S74.se. and the dis
buxoemonts from the general fund for
sos1~nt sxpsnsss and capital outlaws *
tluding postal and Panama Canal dis
busssments. including the interest on the
3uhlic debt, amounted to s54,sN. eN.se.
leAvlng q surplus Of ~. 2s4.s r.1o.
70 m 81. 62460, while the payments made
tor the postal service from the postal
revenues amounted to t2s. eco. 7o6.4s, which
~ surplus Of postal receipts over dis
bureements Of @19. 11&12, the first time In
years In which . surplus occurred.
Tho interest-bearing debt Of the United
ptates June 30 1911. amounted to $916,-
64,fe0 Teh debt on which interest had
oeased amounted to Il, 81, Sao.2e, and the
Habit bearing NO interest, including green
backs. national bank notes to be redeem
ID. and fractional currency, amounted to
~. ~. ei1.l8. or . total Of interest and
tSSavS- an<~ 49, 49, 20
Q.Sos. ~, ss7.6e.
The actual disbursements, exclusive Of
ihoss for the Panama Canal and for the
postal service for the year ending .yune
a MI. were S664. 1N, ss7.S9. The actual
achievements for the year ending Juno
y, l1d0, exclusive Of the Panama Canal
and the postal service disbursements,
Refe ~, nj. Ss1.os. making q decrease Of
6.667, 1s&1s In yearly expenditures In the
pear 1911 under that Of 1910. For the year
ending June %. 1914 the estimated re-
Axs >o6e 900, 900. while the total estimates.
exclusive Of those for the Panama pay
abs from the postal revenues. amounted
10 ~, ~, 7s9A This IL decrease In the
Dl1 estimates Of 1854, 367.22
Z. For the year ending June 30. 1914 tho
Estimated receipts, exclusive OF the pos
tai revenues, IRE t667. 100000 while the
total estimated appropriations, exclusive
Of the Panama Canal and postal dis
busements payable from postal revenues.
will amount to s$sS7. sco. So3.S5. This 10
decrease In the 1918 estimates from that
bf the 1s1e estimates Of $7.921. 996.9s.
A. to the postal revenues. the expan-
sion OF the business IN that department.
the normal increase In the post Office
Ana the extension Of the service, will in
crease the outlay no. nc sum Of $3.50 $685.
Egpeat,ses the d. xtment' was self-sus-
tanning TIM Year this postmaster general
ts assured that next year the receipts
will at least equal the expenditures, and
probably exceed them by more than the
surplus Of this year. It 10 fair and equit-
able, therefore. in determining the econ
prny with which the government has been
run, to exclude the transactions Of q de-
partment like the post office department.
which relies for its support upon it's re-
eeipts In calculations heretofore made
Tor comparison Of economy in each year,
Il has been the proper custom only to
include in the statement the deficit In the
host office department which was paid out
of the treasury
In the treasury department the efficien-
nv and economy work has been kept
steadily up. Provision Is made for the
elimination Of ia 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 Warrington. and al positions
IA the year 1910. making an elimination
OF 81 statutory positions since March I.
Yeoe: and this has been done without the
discharge Of anybody. because the nor
mai resignations and deaths have been
snuaI to the elimination of the places, .
.vstem Of transfers having taken care
n the persons whose positions were
dropped out In the field service Of the
nepartment. too, 12s9 positions have been
eliminated down to the present time, ma
king . total net reduction of all treasury
positions to the number Of 1901. Mean
time the efficiency of the work Of the
department has increased.
Monetary Reform.
! A matter Of FIRST Importance that win
rome before congress for action at this
.ession IL monetary reform. The con-
wress has itself arranged an early intro
huction Of this great question through
the report Of it, monetary commission.
rhis commission was appointed to rec
hmunend . solution Of the banking and
currency problems SO long confronting
Eha nation and to furnish the facts ana
1ata necessary to enable tho congress
TO take action
TN ortler TO do its work with thorough
meas and precision this commission has
taI.en some time to make its report The
country il undoubtedly hoping for a.
nrompt action on the report as the con-
yeniences .of tho congress can permit.
The recognition Of the gross imperfec-
lions and marked inadequacy Of our
hsnking ana currency system even In our
most quiet financial periods is of long
~ rAinr: and later there has natural a
recoenition Of the fact that our system
= responsible for the extraordinary de-
Sastation. waste and business paralyas
~ an recurring periods Of panic. Thoueh
fhs nnsthods Of the monetary commission
have tor : considerable time been work
snS = Ii the open. and while large num m
- the people have been openly working
nth them, and while the press has larre.
II notsd and discussed this work aa #
r.. nroceeded % that the report Of me
rommission promises to represent q ma
nonsI movement. the details Of the re-
hort arc sun being considered can
not therefore, do much more at this time
than commend the immense Importance
Of monstary reform. urge prompt consid-
4 President In H's Day.
..As.x hao dfsCOVarod %NoA