The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1911-12-21

OF NATION
DISCUSSED
In a Message 10 Congress
Currency Re-
form is Favored
TELEGRAM BY United Press

AEiNeA GIL ~ AAAARA ANn@s
Washington. Dec. H. President
Taft today sent 4 message to congress
III which lie dealt with the condition
Of the treasury. banking and eurren-
cy reform and various departmental
questions, lie said III part.
THE financial condition Of the gov
ernment, as shown al the close Of the
fiscal year June 30, 1911. was very
satisfactory the ordinary receipts
into the general fund, excluding post.
al revenues. amounted to s70i.a72,-
3749s. and the disbursements from
TIE general fund for current expenses
and capital outiays. excluding postal
and Panama Canal disbursements, in,
cluding the Interest on the public
debt amounted 10 SGsl, l37.ao7 50,
leaving a surplus of si7.2si377jo
nrhe postal revenue receipts am.
ounted to s287s7gs2se0 while ihc
payments made for The postal service
from the postal revenue amounted q
s287 .6GO. .7O5 As. which left surplus Of
postal receipts over disbursements Of
s2ia.llSl2 the first time IN 27 years
III which surplus occurred
~The interestbearing debt Of the
United States June 80, iaii. amount
Cd to sgla,2as,iao. The debt On which
interest had ceased amounted to si
s5g.sSe 2g, and the debt bearing no
Interest Including greenbacks, nation
ii bank notes to Be redeemed. and
fractional currency amounted 70 $3.50,
4sI.8i7.4s, Or i total 81 interest and
neninsercsg bearlng debt amounting
10 2i .sag.ssa.aa76a
sThe actual disbursement eAeluat
i've 81 those fot 1910 Panama Canal
aud for ihp postal service Tor the year
ending june sp 1911. we're s6s4,lsir
a91s9. The actual disbursements
fof the year cnding june se, 1910, eSs
elusive ol tho panama Canal and tha
postal service disbursements, wero
$3.50. .70s .saloS, making a decrease Of
s5.567 .8aslg IN yearly expenditures N
the year 1911 under that Of 1910. For
the year ending June 80 1912. the
estimated receipts. exclusive of the
postal revenues, are stgG,qooeoo,
while the total estimates, exclusive
Of those for she Panama Canal and The
postal expenditures payable from the
postal revenues. amounted 70 ssi5,.
sl27ss.24. This is q decrease TO txe
iai2 estimates from that q the 1911
estimates 81 siss4s6s22
FOR the year ending june So iais,
the estimated receipts. exclusive oi
ne postal revenues. are sssI.oo9. coo,
while tbe total estimated appropria.
tons. exclusive Of The Paaam oanal
and postal disbursements payable
from postal revenues. Nill amount q
sss5. .s2e .sas.sa. gRls IS decrease
in the iais estimates from that Of the
tsie estimates of Slegiaas.aa.
Monetary Reform.
"A matter 81 first importance iha'
win come before congress for action
Al this session IS monetary reform
The congress has itself arranged a.
early introduction ot this great qaes
iIon through the report Of Its mone
lafy commission.
IN order to DO its work with thor
oughnesS and precision this commits
sion has taken some time 70 make u
report. The country is undoubtedly
hoping Tor as prompt action on u
report as the convenience 81 tho son
gress can permit The recognition
Of the gross imperfeciions aud mari
id inadeauacy Of our banking an
currency system even in onr mos
quiet financial periods Is q lon
standing. and later there has matn
ia 4 recognition Of the faet that oa
system il responsible for the exiri
ordinary devastation, waste. and bus
ness paralysis Of our recurring Pc
iods Of panic Though the member
Of the Monetary Commission have e
considerable time been working
the open. and while large numbers
people have been openly workf
with them. and while the press n
largely noted and discussed IL
work as IL has proceeded, so that y
report OF fhe commission promises
represent 4 national movement &
details Of the renort are still bell
considered can not, therefore
much more 1T this time than commel
the Immense Importance Of moneta
(contlnued Oh Page TwO1