Lincoln County times. (Jerome, Idaho) 1911-1919, 1911-12-28
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 limo In 81 Years-
Hopes Monetary Reform VIII
Not Be Made Party Issue
Urges Parcel Post

Urges Parcel Post
ashington.-President Taft sent a
with the finances of the country. The
message in part follows:
The financial condition of the govern
ment 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 SO, 372, 374.s9, and the dis
bursements from the general fund for
current expenses and capital OUTLAWS, e1-
Guiding postal and Panama Canal dis
bursements. including the interest on the
public debt, amounted to 1854, S77, So7. 80.
leaving q surplus of H7. 234. S77.10.
The postal revenue receipts amounted
to 1927. S79, s23. 90, while the payments made
for the postal service from the postal
revenues amounted to 1921 $50, 705.<S, which
left surplus OF postal receipts over dis
bursements OF s2l9. 118 IL. the first time in
q years in which a surplus occurred
The interest bearing debt OF the United
States June 30. 1911, amounted to Ss15.-
353.1S0 Teh debt which interest had
ceased amounted to s1,87o. $685. and the
debt bearing no interest including green
backs. national bank notes to be redeem-
ed and fractional currency. amounted to
! 1886, 75l. .43, or a total Of interest and
non-interest bearing debt amounting to
81. 303, 9s4. 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 1861. 1877, 997s9 The actual
disbursements for the year ending June
30. 1870 exclusive of the Panama Canal
and the postal service disbursements.
were 1853. 7o5, l0s making a decrease Of
s., 1851, 1919 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. 600 900. while the total estimates
exclusive of those for the Panama pay
able from the postal revenues, amounted
&c 1864 s42. 7993 81. This is a decrease in the
1912 estimates of sl.534. 367. %
For the year ending June 90. 1913, the
estimated receipts, exclusive of the pos
tai revenues, are 1867 900, 600. while the
total estimated appropriations. exclusive
of the Panama Canal and postal dis
easements payable from postal revenues,
will amount to s637, 800, sOS. IS. This is a
decrease in the 1918 estimates from that
Of the 1912 estimates of sI.s2l. s95ss
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 $780, 1885,
1853: but the department was self-sus-
tanning this year the postmaster general
|
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
for comparison OF economy in each year
It has been the proper custom only &c
~. he lAar tt IN, ~
post office department which was paid ou
[ OF the treasury.
In the treasury department the efficien
cy and economy work has been KEEP
steadily up Provision is made for tn,
elimination of 1874 positions during th'
/ coming year Two hundred and sixty
= seven statutory positions were eliminated
during the last year in the office of thu
treasury in Washington. and 14l position
i in the year 1910. making an elimination
Of $40 statutory positions since March 4
1903: and this has been done without thu
discharge of anybody. because the nor
NAL designations and deaths have beef
equal to the elimination of the places.
!. system of transfers having taken car
= ! of the persons whose positions wer
Il dropped out. In the field service OF tn
department. too. 1883 positions have bee
\, eliminated down TO the present time. ma
q king a total net reduction of all treasur
positions TO the number of 1.Sol. Mean
time the efficiency OF the work OF IN
d department has increased.
:. Monetary Reform.
A matter of first Importance that wi
Il come before congress for action at thi
, session is monetary reform. The con
gress has itself arranged an early intro
duction OF this great question throug
e the report of its monetary commission
n This commission appointed to rec
ommend a solution of the banking an
currency problems long confrontin
the nation and to furnish the facts an
Is data necessary to enable the congres
"a TO take action.
-. In order to do its work with thorough
u ness and precision this commission ha
taken some time to make its report TIL
n country is undoubtedly hoping for a
9 prompt action on the report the cor
y veniences of the congress can perm
n The recognition OF the gross imperfeC
lions and marked inadeQuacy OF ou
lg banking and currency system even in ou
most quiet financial periods is OF Ion
standing: and later there has matured
r recognition OF the fact that our systel
Is responsible for the extraordinary d,
" vastation. waste and business paralys
=, NJ our recurring periods OF panic. Thoug
III the methods of the monetary commissio
n have for a considerable time been worl
ing In the open, and while large number
70 OF the people have been openly workin
with them, and while the press has larg,
e ~ noted and discussed this work as
lg has proceeded so that the report of Il
commission promises to represent a M
L., | tional movement the details of the r.
:" port are still being considered. ca
g not. therefore. do much more at this tin
to than commend the immense importan,
- monetary reform. urge prompt consi'
We PrescIent In His Dav