The Meridian times. (Meridian, Idaho) 1909-1938, 1911-12-29
TAFT STRONG FOR
CURRENCY REFORM
President Sends Special Mes
sage to Congress on Ma
tons Finances.
CUT IN EXPENSES is SHOWN
Postoffice Department Shows Surplus
for First Time In 81 Years
Hopes Monetary Reform VIII
Net BE Made Party Issue
Urges Parcel Post.

Urges Parcel Post
Washington.-Presid 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 salts
Factory. The ordinary receipts into the
| general fund. excluding postal revenues,
amounted to s7ol, 81, 374.9S and the dis
oursements from the general fund for
current expenses and capital OUTLAWS, ex-
Guiding postal and Panama Canal dis
oursements, including the interest on the
public debt, amounted to 1854, ST, so7. SO,
leaving surplus of sE,2S4,ST.I
the postal revenue receipts amounted
TO vs., S79. 2a6o while the payments made
for the postal service from the postal
revenues amounted to s2S7, $50, 7O6.+s, which
lott surplus OF postal receipts over dis
bursements Of S219, L. the first time in
~ years In which a surplus occurred.
the interest bearing debt OF the United
states June 80, 1911, amounted to $9lB.-
3S2190. Teh debt on which interest had
ceased amounted to 8, s73s9o,2s. and the
oeot bearing no interest, Including green
backs, national bank notes to be redeem
eo, and fractional currency, amounted to
1885, %. BIAS, or a total OF interest and
non-interest bearing debt amounting to
II, So5, 1884, $500.
The actual disbursements exclusive of
those for the Panama Canal and for the
postal service for the year ending June
80 1911. were 1854, 1877, 1915 The actual
disbursements for the year ending June
So 1910, exclusive OF the Panama Canal
ana the postal service disbursements
were 1858. 7o5 391.0s, making a decrease of
so'oo'' SsS.Is In yearly expenditures in the
year 1911 under that of 1910. For the year
ending June 80. 1912, the estimated re-
ceipts. exclusive of the postal revenues
are 1856, 900, while the total estimates
exclusive of those for the Panama paw
able from the postal revenues, amounted
to s654' s42 1884. This is a decrease in the
l9l2 estimates of 1854, 367 %
For the year ending June 80, 1918, the
estimated receipts, exclusive of the pos
tai revenues, are 1867, 900 900, while the
total estimated appropriations, exclusive
OF the Panama Canal and postal dis
easements payable from postal revenues,
VIII amount to 1887 1920, S0335. This is a
decrease in the 1913 estimates from that
or the 1872 estimates of 1891 g95 80
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 $3.50 $685.
462; but as the department was self-sus-
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. 1t 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 like the post office department,
which relies for its support upon its re-
ceipts. In calculations heretofore made
Tor comparison of economy in each year.
It has been the proper custom only to |
include In the statement the deficit in the
Of the treasury.
In the treasury department the efficien-
cy and economy work has been kent |
steadily up. Provision is made for the
of 1874 positions during the
coming year. Two hundred and sixty
seven statutory positions were eliminated
Turing the last year in the office of the
treasury in Washington, and 141 positions
n the year 1910, making an elimination
II 542 statutory positions since March T.
sO9; and this has been done without the
discharge of anybody, because the nor
nal designations and deaths have been
'qual to the elimination of the places. a |
ystem of transfers having taken care
II the persons whose positions were
lropped out. In the field service of the
department., too, 1888 positions have been
Eliminated down to the present time. ma
POSITIONS to the number OF 1901 Mean
lime the efficiency of the work of the
department. has increased
Monetary Reform.
A matter Of first Importance that will
ONE before congress for action at this
esston is monetary reform. The con-
ress has Itself arranged an early intro
uction OF this great question through
he report of Its monetary commission
his commission was appointed to rec
solution of the banking and
urrency problems so long confronting
ne nation and to furnish the facts and
alta necessary to enable the congress
take action.
In order to do its work with thorouph-
ess and precision this commission has
Lken some time to make its report. The |
Ountry is undoubtedly hoping for as
rompt action on the report as the con-
sniences of the congress can permit
he recognition of the gross Imperfec-
ons and marked inadeQuacy of our
lnking and currency system even in our !
ost quiet financial periods is of long ,
anding; and later there has matured n
cognition of the fact that our system :
responsible for the extraordinary de- :
istatlon' waste and business paralysis | !
our recurring periods of panic. Though :
e methods of the monetary commission u
I'VE for considerable time been work :
g In the open, and while large numbers | :
the people have been openly working :,
It'll them. and while the press has large g
noted and discussed this work as Il | 4,
Is proceeded, so that the report of the n
mmission promises to represent a ma .
NAL movement. the details of the re- II
TT are still being considered. l can Il
{. therefore. do much more at this time r,
an commend the immense Importance Q
monetary reform, urge prompt consid- ! e
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