The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-12-21
Financial Condition Of the Gov
ernment Is Reviewed
In Message TO Congress by the
President.
CURRENCY REFORM
And Departmental Questions
Are Also Included.
Recommends the improvement
Of the Missouri River.


Washington, Dec. 21.-President
Taft sent another of his promised
series of messages to congress to-
day. This time he dealt with cur
rency reform, Panama canal tolls and
various governmental questions. on
the subject OF currency refrom and In
connection with the forthcoming re-
port to congress Of the monetary COM
mission President Taft said it was ex-
ceedingly fortunate that the undis-
puted policy OF maintaining un-
changed the main features Of our
banking system rendered IT at once
bank"
He gave his approval to the pro-
posed national reserve association. As
to the management of this, the presi-
dent said this was mainly bankers
work and the banks could be trusted
better than anybody else to conduct
it. He urged that some form or gov
ernment supervision and ultimate con-
troll should prevail and that currency
reform should not be made political
issue.
And also trust that the new leg
slation will carefully and completely
protect and assure the individuality
and the independence Of each bank. 70
the end that any tendency there may
ever be toward a consolidation Of the
money or banking powers Of tine ma
tion shall be defeated" said the presi-
dent.
For Parcels Post.
The Immediate establishment OF
rural parcels post was urged. The
president took the position that the
post would not destroy the business OF
the country store keeper Instead Of
doing this" he said. IT think the
change will greatly increase business
for the benefit OF all. The reduction
in the cost of living it will bring about
ought to make its adoption certain"
On the Panama canal the president
dealt at length with the question OF
whether American shipping should pay
tolls. It am very confident that the
United States has the power to relieve
from the payment Of tr lis any part or
our shipping that congress deems
wise" said the president. we want
control 1t is United States money
that built il. We have the right to
charge tolls for its use These tolls
must be the same to every one: but
when we are dealing with our own
ships the practice Of many govern
ments subsidizing their own merchant
vessels is so well established in general
equivalent remission Of tolls cannot be
held to be a discrimination In the use
of the canal"
other Recommendations.
Among the presidents recommenda-
tions were the following:
An immediate Increase Of 1000 in the
enlisted strength of the navy.
Abolition of the smaller navy yards
Contributory pensions system for
government employees.
The elimination of all local offices
from politics.
Increased appropriation for compile
ton of river and harbor Improvement
along the Mississippi, the Ohio and tho
An extension of the term Of service
of the special board Of engineers on
the waterway from the lakes to the
gulf
clerks of federal courts for cause
Payment of the French spoliation
judgments.
Employers liability and workmen's
compensation legislation called to the
attention Of congress.
The Message.
To the Senate and House OF Represen-
tatives:
The financial condition Of the gov
ernment, shown at the close OF the
last fiscal year. June 30. 1911. was
very satisfactory The ordinary re-
ceipts into the general fund. exclud-
ing postal revenues, amounted to
$7O1,372, ,374.99. and the disbursements
from the general fund for current ex-
penses and capital Outlays. excluding
postal and Panama canal disburse-
ments, including the interest on the
public debt. amounted to $65f.137.-
907.S9, leaving a surplus of $47,234.-
377.1O.
The postal revenue amounted to
S237.S79, ,S23.6O, while the payments
made for the postal service from the
postal revenues amounted to S231-
66O,7O5-4S which left "a surplus OF
postal receipts over disbursements OF
$219.11S.12. the first time in % years
in which a surplus occurred.
The interest bearing debt Of the
United States June 80. 1911, amounted
to S915.353.190. The debt on which
interest had ceased amounted to ST.
S79,S3O.26. and the debt bearing no in
terest including greenbacks, national
bank notes to be redeemed. and frac-
tiOnal currency, amounted 10 S3B6.-
ISL, 1,91743. or a total Of interest and
nOninterest bearing debt amounting TO
S1,3O3, ,937.69.
The actual disbursements, exclusive
of those for the Panama canal and for
the postal service for the year ending
June 30. 1911. were $654.137.997.S9.
The actual disbursements for the year
ending June 80, 1910. exclusive Of the
Panama canal and the postal service
disburse ements. were S659. 9.705.3S1.0s.
making a decrease OF $5.567.393.19 I'm
yearly expenditures in the year 1911
under that Of 1910. For the year end
ing June 30. 1912, the estimated re-
ceipts. exclusive OF the postal reve-
nues, are $666,OOO.OOO, while the total
estimates. exclusive of those for the
Panama canal and the postal expendi-
lures payable from the postal reve-
nues, amount to S645.S42.799.34. This
is decrease In the 1912 estimates
from that of the 1911 estimates Of ST.