The Wilson times. [volume] (Wilson, N.C.) 1896-19??, 1911-12-22
THE Money
MESSAGE
PRESIDENT TAFT RECOMMENDS
TO CONGRESS FINANCIAL
LEGISLATION
D., S. EXPENDITURES

Washington, D. c., Dec. 21.-Presi,
dent Taft sent to Congress a mon
ey MESSAGE treating principally OF
the finances Of the various depart
Nments Of the government, but en-
bodying recommendations for i'm
portant legislation as we'll This is
the Presidents third message of this
session.
The report, which was designed
to treat of the financial conditions OF
z the treasury, needed banking and
currency reforms and departmental
questions, is one of the most impor
tant yet sent in the present session
OF Congress.
A significant feature of it is Presi-
dent Taft's emphatic Endorsement OF
the National Reserve plan of fnan-
cial reform as opposed to the Cen
trail Bank as a means Of preventing
panics in the future. The President
also demands legislation to prevent
the merger Of banks into great ma
tional money trust, after the estab.
ishment of the National Reserve
association, if this reform should be
inauguarted
Another striking recommendation
is for the extension of civil service
weapon Of Federal patronage. Mr..
Taft asks that all local government
Offices throughout the country includ
ing collectors of internal revenue,
collectors of customs, pastmasters OF
all four classes, immigration com
missioners and marshals be filled un-
der civil service instead of by ap-
pointment upon recommendations tc
the President.
It is impossible, says Mr.. Taft to
expect that, while in Office, the ap-
pointees will not regard their tenure
as more or less dependent upon SON
tinued political service to their pat
rons.
The President also asks that q
council of national defense be All
thorized by Congress in order. to
promote the security Of the nation
from foreign invasion.
report calls the financial con
dition Of the government at the enc
of the fiscal year terminating June
80, 1911 (the period covered in the
message) every satisfactory" The
following important fiscal statistics
are set forth
Government revenue
Except from pos
tai service ........ $7O1, ,372,374.99
government 0Ap0uul-
lures Except for
postal service and
the construction of
the Panama Canal. s654,137, ,907.89
Surplus 80. -. :. 47,234, 4,3771t
Post Office receipts. 237, ,879 ,823.6O
Post Office expenses. 237,66O,705. As
Post Office surplus (the
first in 27 years.. 219,11S.12
The decrease in running the gov
ernment in the fiscal year of 1911
over 1910 was over five and one-halt
millions of dollars. The aggregate
national debt on June 80, 1911 was
S1.3O3, 1884, ,937.69; the estimated gov
eminent receipts for the fiscal veal
of 1912 exclusive of postal receipts)
S666 100000; estimated revenues
$645, ,842, 1894; the estimated receipts
for the fiscal year ending June 80
1913, exclusive Of postal revenue
1867 900, 900; appropriations estimat
ed for same period, exclusive of the
Panama Canal, $637, ,920,8033O.
ECONOMY is a watchword run
ming through out the message. hlr
Taft praises the various department.
for deductions of expenses especial
" the Post Office Department, Whfcl
probably will be se1f-sustaining mex
year and the Treasury Department
which will eliminate 137 Offices mex
year.
The report shows the postal say
ings banks to be growing rapidly. Il
eleven months these institution
have accumulated 81 100000 in dc
posts, or averaging $1,O00,000 pc
month.
In writing of the Central Ban
plan, which was first advocated b.
the National Monetary Comn1issio
headed by ex-senator N. w. AldricE
Mr. Taft says it is exceedingly fol
tunate that this proposed plan wa
changed, because t would surely hav
met with disapp1oval He says tha
he hopes that currency and bankin
reform will not become a politict
party issue.
On the subject of the Panama Cal
al, the executive urges that Col
gress authorize the President
name the schedule of tolls, but b
hopes that tolls may be lessened c
entirely eliminated for America
ships as a subsidy to foster Unite
States merchant marine. The me
sage says that the canal will b
completed by July 1, 1913 and th
President hopes Congress will max
laws for the government of the can;