Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1911-12-21
PRESIDENT URGES
RURAL PARCEL POST
. pREsIpEhr, pELlvERs MEssAoE
TO coNoaEss ON ssvERAL
LIVE suoJEcTs.
sMlsso,ATG ACTION FAVORED
on PACKAGE DELIVERIES
Appesvss National Rsssrvs Asseeia-
/: tis~ In Favor % Central Bank, With
Danksrs In charss-Arsuss That
psrss,s Pest Would Not Destroy
iOusinsss sf Country Merchants.

Z
) messages to congress today. This time
he dealt with currency reform and in
connection with the Forthcoming re-
Z port to congress- Of tho monetary COM
mission, President Taft said it was ex-
ceedingly fortunate, for the wise and
undisputed policy Of maintaining un-
changed the main features of our bank
tng system rendered It at once impos-
sible to introduce q central bank" He
yave his approval Of the proposed ma
tfonal reserve association.
AZ TO the management Of this associ-
alton the president said this was main
ly bankeFs' work and the bankers
could be trusted better than anybody
else to conduct 1t. However he urged
that some government supervision and
ultimate control should prevail and that
currency reform should not be made a
policy Issue.
And also trust that the new leg
islation will carefully and completely
protect and assure the individuality and
the Independence Of each bank. to the
end that any tendency there may ever
be toward q consolidation Of the money
or. banking spowers of the nation shall
be defeated" said the president.
The immediate establishment Of a
{ T-su;r-;s! Tsu;r- 8. parcels pest was urged. He took
the position that the post would not de-
stroy the business of the country store
keeper.
Our Financial Condition.
ITO the senate and the house Of rep
resentatives: The financial condition
or the government. as shown at the
close Of the last fiscal year. June 30.
1911. was very satisfactory. The ordi-
y maj s receipts !:.c .he seneral fund. exc
Guiding postal revenues amounted to
t70f.473.37ASS and the disbursements
from the general fund for current ex-
pensss and espital outlays. excluding
postal and Panama canal disburse-
ments, including the interest on the
public, debt. amounted to $654,137,907.
leaving surplus Of $47.234.377.10.
The postal revenue receipts amount
ed to. 3237,s79,s23.6o. while the pay
ments made from the postal revenues
a surplus Of postal receipts and dis
bursements OF $219.11s.12, the first time
in twenty-seven years in which sur
plus Occurred.
The interest bearing debt Of the
United States. June 80. 1911. amount
ed to 1918 1888. 100. The debt on which
interest ceased amounted to $780,
830.2e. and the debt bearing no inter-
est, including greenbacks, national
bank notes to be redeemed. and frac-
tional currency, amounted to $386,751,-
S17.43 or q total Of interest and nom
5interest bearing debt amounting to 81 :
303, 1884, ,s37.s9.
The actual disbursements, exclusive
OF those for the Panama canal and for
the postal service for the year ending
June 80. s19l1, were $654.137.997s9. The
actual disbursements for the year end
\ ing June 80, 1910, exclusive Of the Pan
anna canal and the postal service dis
bursements, were 1863, 705. .391.0s. max
Ing decrease Of $5.567. .393.19 in yearly
expenditures in the year 1911 under
that Of 1910. For the year ending June
30. 1912, the estimated receipts, exclus-
I'VE Of postal revenues, are $3.50, ,000, 900.
while the total estimates, exclusive of
those for the Panama canal and the
postal expenditures payable from the
postal revenues. amount to $645.S42.-
1 7a3.34. This Is a decrease in the 1912
/ asttmatesef from. that Of the 1911 esti-
mates Sof e1.534.3 .367.22.
Il For the year ending June 30, 1913,
ssthe estlmated receipts. exclusive Of the
< sp0stal-revSnues. are $667. 100000 while
( the total esttmated appropriations. ex-
elusive OF the Panama canal and postal
disbursements payable from postal
revenues VIII amount to $637 ,920, $685.
This IL q decrease In the 1918 esti-
mates from that Of the 1912 estimates
of $7.s21.seS.Ss."
The president then takes up the work
scfathe monetary commission. the man
& agement of the war department. pro-
+ gress on the Panama canal and recon-
mendationS for its equipment, and rec
ornmends naturalization Of Filipinos
and other aliens In the islands.
Rivers and Harbors.
As 90 river and harbor improvements
the presidsnt says:
THE estimates for the river and har-
I bor improvements reach $4,000, 900 for
the. coming year. ! wish to urge that
whenevsfa Q project has been adopted
BY congres0 az one to be completed, the
more money which can be economical
y " expended in its construction In each
year, the greater the ultimate econ
onny This has especial application to
the Improvement OF the Mississippi
river and Its large branches. It seems
70 ne that an increase in the amount
!, az money now being annually expended
8 q: the Improvement Of the Ohio river
which ha1 been. formally adopted by
z congress would be In the interest Of the
public. A similar change ought to be
RAde during the present congress, IN
! the amount to be appropriated for the
< III nVarf .Faver. The enRineerN 0ay that