Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1911-12-23

ernments in subsidizing their own mer-
I chant vessels Is SO we'll established IN
general that q subsidiary equal TO the
tolls and equivalent to remission OF
tolls, cannot be held to be a discriml.
nation against the use of the canal. :
The Presidents Recommendations.
! The presidents recommendations
were the following: -
An immediate increase of 1000 men
in the enlisted strength of the navy.
Abolition Of the smaller navy yards.
Contributory pension system for gov
eminent employees.
The elimination of all local officers
from politics. =,
Increased appropriation for the com
pletion of river and harbor improve
ments along the Mississippi, the Ohio
and the Missouri rivers.
An extension Of the term of service
| Of the special board Of engineers on
the waterway from the lakes to the
gulf. ...s'
Power in the president to remove
clerks Of federal courts for cause.
Payment OF the French spoliation
judgments. .s,& '.t,,@ r.
Employers liability and. ,workmen's
compensation legislation called to the
attention of congress. ~ wy -
Full Text Of Message. II
The presidents message in full is as
follows: ... 81
To the Senate and House Of Represent
atives: ., -. 81
The financial condition Of the gov
eminent as shown at the close Of the
last fiscal year., June 80, 1911, was
very satisfactory. The ordinary re-
ceipts into the general fund, excluding
postal revenues, amounted to SOL ,372,-
374.99. and the disbursements from
the general fund for current expenses
and capital OUTLAWS, excluding postal
and Panama canal disbursements, in
Guiding the interest on the public debt,
amounted to $654,137. 907.89. leaving
surplus Of $47.234,377.lO. a
The postal revenue receipts amount
ed to $237 ,879,s $3.50, while the pay
ments made for the postal service from
the postal revenues amounted to $780,.
6e0.7O5.4S, which left surplus Of
postal receipts over disbursements Of
$219,11s.12, the first time in twenty
seven years in which surplus oc-
Cured. '........,.. ~ Is
The interest bearing debt of the
United States June 80, 1911, amounted
to $915,353, 100. The debt on which In
terest had ceased amounted to $1,S79.-
83O26, and the debt bearing no inter-
est. including greenbacks. national
|. banknotes to be redeemed and frac-
tional currency, amounted to 1885,
751,017.43. or total Of interest and
noninterest bearing debt amounting to
$1,9O3. 1884 $3.50. .,Sr-" .Tf
The actual disbursements, exclusive
Of those for the Panama canal and for
the postal service for the year ending
June 80, 1911; were $685., 137 ,9o7 80
The actual disbursements for the year
ending June 80. 1910, exclusive of the
Panama canal and the postal service
disbursements, were 1858, 7O6, 391 .O9,
making decrease Of $5,567 ,393.19 In
yearly expenditures in the year 1911
under that of $780, For the year end
ing June 80, 1912, the estimated re-
ceipts, exclusive OF the, postal, reve-
nues, are 100000, 900, while the total
estimates. exclusive Of those for the
Panama canal and the postal expendi-
lures payable from the postal reve-
nues, amount to $645. s42, 1894. This
liz a decrease In the 1912 estimates
from that Of the 1911 estimates OF 81,
534, 387. %. &...'-
For the year ending June 80, 1918,
the estimated receipts, exclusive OF
the postal revenues, are. 1861, 900, 900,
while the total estimated appropria'
lions. exclusive Of the Panama canal
and postal disbursements payable from
postal revenues, will amount to $637,
900, SOS.35. This Is decrease in the
1918 estimates from that of the 1912
estimates Of $7,921, 995.99 &.
As to the postal revenues, the ex.
.pansi6n Of the business in that de-
partment, the normal increase in the
postoffice and the extension Of the
service will increase the outlay to the
sum of $3.50, 1898 ,483, but as the depart.
ment was self sustaining 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.
The crsdit Of thu United States.
The credit Of this government was
shown to be better th"n that OF any
other government by the sale Of the
Panama canal 3 per cent bonds. These
bonds did not give their owners the
privilege Of using them as a basis for
banknote circulation, nor was there any
other privilege extended to them which
would affect their general market val
ue. Their sale, therefore, measured
the credit of the government. The pre-
MUM which was realized upon the
bonds made the actual interest rate OF
the transaction 1900 per cent.
In the treasury department the ef'
iciency and economy work has been
kept steadily up. Provision Is made
ear a., elimination of 1874 positions