Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1911-12-29
TAFT STRONG FOR
CURRENCY REFORM
President Sends Special Mes
sage to Congress on Ma
tons Finances.
CUT IN EXPENSES IS SHOWN
Postofnoe Department Shows Surplus
for First Time In 27 Year,
Hopes Monetary Reform viii
Not Be Made Party Issue
Urges Parcel Post.

V0P00 "ObON~ty WIZ
Not Be- Made Party Issue
Urges Parcel Post.
Observation-Disclosures Taft sent q
special message to congress dealing
with the finances Of the country. The
message in part fIlows:
The financial copsiition OF tho govern
msnt. a. shown At the close of the last
ascal year. June 30. DI. was very salts
fAotory. The ordinary receipts into the
general fund, excluding postal revenues.
Amounted to t7o1, 81 s74.@ and the dc
b~ur.srnents from the general fund for
current expenses and capital OUTLAWS, az
GLIDING postal and Panama Canal dis
b~urvsmsnts, including the interest on the
public debt, amounted to 1854, .sU.S'
havtnS . surplus OF ~ .234, s77.D
The postal revenue receipts amounted
to S237 ,8S ,s3. 60, while the payments made
for the postal service from the postal
revonues amounted to S237, $50, 76. 4S, which
ls1t a surplus OF postal receipts over dis
buFDsments OF $219, 11S- Ii, the first time In
n years In which a surplus occurred.
The intersst-bearing debt of the United
States June 30, 1911, amounted TO $685.
ba, 100. Teh debt on which interest had
ceased amounted to &1.S0, $50 10, and the
debt bearing no interest, including green
backs, national bank notes to be redeem
ed, and fractional currency, amounted to
1856. D1-s17.4S. or a total OF interest and
non-interest bearing debt amounting to
! II 3Gs, 9S4. 9s7. So.
The actual Disbursements, exclusive of
those for the Panama Canal and for the
postal service for the year ending June
b, 1911, were 1854. 1877. 997. SO. The actual
disbursements for the year ending June
%, 1910, exclusive Of the Panama Canal
and the postal service disbursements,
were $s59. 705, 391. 0s, making a decrease Of
r. SE1 HQy 10 In vonr1v aynan1{fr raa In the
year 1911 under that Of 1910. For the year
ending June 30, 1912. the estimated re-
ceipts. exclusive Of the postal revenues.
are $500, 0O0. 900, while the total estimates.
exclusive OF those for the Panama pay
able from the postal revenues.
to 1854, SAP, 799. "a. This is a decrease in the
1912 stimate Of 1884, 1922
For the year ending June 80, 1918, the
estimated receipts, exclusive of the pos
tai revenues. are 1861 900, 00O, while the
total estimated appropriations, exclusive
Of the Panama Canal and postal dis
payable from postal ~revenues,
will amount to $637, 800, 500. IS. This Is a
decrease in the 1913 estimates from that
Of the 1912 estimate of 1881, $3.50.
AS to the postal revenues, the expan-
sion of the business in that department,
the normal increase in the post office
and the extension of the service. will In
crease the outlay to the sum of $26o, $780,
1853; but as the department was self-sus-
Hill llliS yehT III poslLIL1SNeI I'll nj
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. 1t is fair and equit-
able, therefore,, in determining the econ
orny with which the government has been
run. to exclude the transactions Of a de-
partment like the post office department,
which relies for its support upon its re-
reipts In calculations heretofore made
for comparison of economy In each year.
~ hoe hAor fha rrnror cryGtnrp nr1v IN
include in the statement the deficit In the
post office department which was paid out
of the treasury.
In the treasury department the efficien-
cy and economy work has been kept
steadily up. Provision is made for the
elimination of 1874 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 Washington, and al positions
in the year 1910, making an elimination
of 542 statutory positions since March 4,
1909: and this has been done without the
discharge Of anybody, because the nor
NAL designations and deaths have been
equal to the elimination Of the places, a
system of transfers having taken care
Of the persons whose positions were
dropped out. In the field service of the
department, too, ,259 positions have been
eliminated down to the present time, ma
king a 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 will
come before congress for action at his
session is monetary reform. The con-
gress has itself arranged an early intro
1uction of this great question through
The report of It's monetary commission.
This commission was appointed to rec
Ommend a solution of the banking and
currency problems so long confronting
The nation and to furnish the facts and
data necessary to enable the congress
TO take action.
In order to do its work with thorough
ness and precision this commission has
taken some time to make its report. The
country is undoubtedly hoping for as
prompt action on the report as the con-
veniences of the congress can permit.
The recognition of the gross imperfec-
ions and marked inadequacy of our
banking and currency system even In our
most quiet financial periods is of long
.-ecognition of the fact that our system
8 responsible for the extraordinary de-
yastatioE, waste and business paralysis
If our recurring periods of panic. Though
he methods Of the monetary commission
ave for a considerable time been work.
ng in the open. and while large numbers
IF the people have been Openly working
With them. and while the press has large
y noted and discussed this work as 1t
commission promises to represent a ma
1onal movement. the details Of the re-
Jort arc still being considered. I can
rot. therefore,. DO much more at this time
han commend the immense Importance
Il monetary reform. urge prompt consid-