The Van Buren press., 1911-12-23
TAFT STRONG FOR
CURRENCY REFORM
President Sends Special Mes
sage to Congress on Ma
tion'S Finances.
CUT IN EXPENSES IS SHOWN
Postofrice Department Shows Surplus
for First Time In 27 Years
Hopes Monetary Reform VIII
Not Be Made Party Issue
Urges Parcel Post.


Washington.-Pre Taft sent a
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 30. 1911, was very sats-
factory The ordinary receipts into the
general fund, excluding postal revenues
amounted TO so, ,3I2,31499 and the DIS
bursements from the general fund tor
current expenses and capital outlays, ex-
Guiding postal and Panama Canal dis
bursements. including the interest on the
public debt amounted to SS4S,nsV'oJ
leaving a surplus Of AI24,3IrlO
The postal revenue receipts amounted
to S23T. .S1g, ,S2360 while the payments made
for the postal service from the postal
revenues amounted 10 S22- go 7@5 IS. which
left a surplus OF postal receipts over dis
bursemcnts OF $2l9.lBl2, the first time IN
q years in which a surplus occurred.
The interest bearing debt Of the United
States June 80 1911, amounted 10 Ssl5,-
353 lg0 Teh debt on which interest had
ceased amounted to also. .S30.25, and the
backs. national bank notes to be redeem
ed and fractional currency, amounted 10
S3S6 15l el743 or a total OF interest and
non-interest bearing debt amounting to
$L 303 9S4 93759
The actual disbursements, exclusive Of
those for the Panama Canal and for the
postal service for the year ending June
90 1911 were Sg413799 TS9. The actual
disbursements for the year ending June
90 1910 exclusive Of the Panama Canal
and the postal service disbursements,
were SG59 705 39l.0S. making decrease OF
s. 1857 1918 I'm yearly expenditures I'm the
year 1911 under that OF 1910. For the year
ending June 30 1912 the estimated re-
ceipts exclusive OF the postal revenues,
are $685. l0U u00 while the total estimates,
exclusive Of those for the Panama pay
able from the postal revenues amounted
10 S5J4 S42. 799 a. This is decrease I'm the
1912 estimates Of $l524 36722
For the year ending June 3d. 1918, the
estimated receipts exclusive OF the pos
tai revenues. are Sf61,rU10, while the
total estimated appropriations, exclusive
n the Panama Canal and postal dis
easements payable from postal revenues,
will amount 10 Ss37. .92o S03.35. This is
decrease m the 1913 estimates from that
u the 1912 estimates Of S.92l9a59s
As TO the postal revenues. the eNpan-
sion Of the business IN that department,
The normal increase I'm the post office
and the extension Of the service, win in
crease the outlay 10 the sum OF $3.50 g3S-
i63, but as the department was saIf-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. II is fair and equit-
able, therefore, IN determining the econ
omy with which the government has been
run, TO exclude the transactions Of a de-
partment Ike the posi office department
S4-i-A--o 'Jf ;ts sub'S - l!ra1 l IL, ~.
celpts. In calculations heretofore .u-,
for comparison OF economy In each year
Il has been the proper custom only 10
Include I'm the statement the deficit lu the
post office department which was paid out
u the treasury
In the treasury department the ofnelcn-
-y and economy work has been kept
steadily up Provision rs made FOR the
elimination OF lH positions during the
coming year Two hundred and sixty
seven statutory positions were eliminated
during the last year In the office NJ the
treasury IN Washington, and lU positions
In the year 1910, making an elimination
NJ A2 statutory positions since March T.
1879 and this has been done without the
discharge of anybody because the nor
mai designations and deaths have been
equal 10 the elimination Of the Places n
system Of transfers having taken care
~ the persons whose positions were
dropped out lu the field service NJ the
department too, 1850 positions hnyo been
eliminated down 20 the present '.uu. ma.
King a total NOT reduction NJ HII treasury
positions 10 the number M lWI Moan.
time the efficiency 0f the work uf tho
department has Increased
Monetary Reform.
matter VI FIRST Importance that will
come before congress fur action 700 This
session ls monetary reform TNa con.
eruss has Itself arranged an early intro.
ductIon ~ this great question through
the report Of ltg monetary commission
This commission WAS appointed to rru.
Ommend "a solution NJ the banking and
currency problems go long confronting
The nation and 90 furnish tho lna and
data necessary to enable the rYuprpHa
40 take action
I'm order to DO Its work with thorough
ness and precision ruR commission nus
.Nh'N NNIII' IIII' |' '|||hf |'. I.I|T1 Tho
country Is undoubtedly hoping mr ng
prompt action ON rUn report UH rUu CON.
VunIrUcoa 0f the congress can u.ruu
The recognition NJ INr gruH# Imparfrr.
lions and marked Ouodoupay W our
banking and currency wgJDm r.uu m our
mos. uUIut financial periods g OF long
standing and later lUuru nHa mnmrud 81
recognition ot the tlul lhuI our ayslum
Is responsible fnr the ps0n.rH.ulr. d.
vaajaN0n. waste and business pymN"u
ni oW recurring periods 0l panic Though
lUo methods Of tbn MONETARY rommHa.ou
have for % considerable Umu boon worb
'Ns I'm the open and wnlp largo numbers
NJ the people have boon openly wording
Win lnum and while IN, prru Hua nrgn'
~ noted md discussed lnm work na a.
Nw proceeded ao Ihul rHo report of tno
commission rT0mHus 10 represent "a nl.
NonnI movement tln details N the rr
port ntn mIO being considered can
no' therefore. do much moro ur rnla lua
'lnn commend the Imm.us. Importance
of monetary reform urge PROMPT nupe.l