The Prescott daily news., 1912-12-07
PRESIDENT TAFT MAKES EM PHATIC PLEA FOR REVISED
 MONETARY SYSTEM.
ASKS FOR BIGGER NAVY
Believes in Continued Supervision Over Island Possessions and Urges Workmens Com
 pensation Act.

Washington, Dec. Tn a messa ge teeming with optimism, President aft urged upon congress an advanced program of legislation on the fiscal judicial, military and insular affairs of the nation.
 Pleading for the immediate passage Of a currency reform measure along the lines Of the Aldrich plan, the president declared for a bigger navy; further reorganization of the army to provide for a greater reserve dur. ing times of peace; continued super. vision over Porto Rico and the Philip. pines federal regulation of water powers in navigable streams and the promulgation of a working mems compensation act
 The president highly praised Col Goethals, chief engineer of the Pan. ana canal. and recommended that4n recognition of his wonderful work Goethals be made major general of the army with the title of chief en. gineer, when the present incumbent is relieved
 The tariff the president dismissed with a few paragraphs.
 Needless to Discuss Tariff.
 Tt was my belief that these GUS. toms duties ought to be revised down. ward" he said, but now that a new congress has been elected on platform of tariff for revenue only, rather than a protective tariff, it is needless for me to occupy the time of congress with arguments or recommendation in favor of a protective tariff"
 The $22000,000 deficit which ap. pears between the treasurer's report of estimated income for the coming year and the estimated expenditures, he president blamed on congress- fail. ure to appropriate for the two battle. ships last year, necessitating an esti. mate for three this year.
 The presidents plea for a revised banking and currency system wae especially emphatic. Declaring it to be the most crying need of the coun. try today" he recommended the i'm. mediate adoption of an elastic cur. rency system along the lines of the central bank idea proposed by the .ll. drich currency bill.
 Distrust Declared unfounded.
 DiscussinS the prejudice which greeted the central bank idea, the president argued that it arose from an erroneous idea of it's powers and a distrust of bankers by the people.
 The president warmly commended the recent adoption in the army of the three-year reserve clause for cn. listed men, which makes them sub. ject to draft in case of war after their enlistment has expired and the mili, tia pay bill for the national guard, the volunteer bill 10 provide for the quick raising of forces in time of war, and the adoption of the resident sol diery idea for our insular possessions
 Islands Should Not Be Free.
 The president warned congress against the proposal to grant freedom to the Philippines and Porto Rico IT would be a disguised policy of sent tie" he said "The move is frauFhi with the direst consequences. because neither country is at present ready for the chanse.
 Racial intcTmixture and presen' iliteracy," he said, made them unfit to govern themselves
 Praising the new disciplinary rules for the navy, which largely obviate severe punishments for assertions an6 purely military offenses, the president declared for bigger navy.
 we have no desire for war" he said we would go as far as any ma. tion in the world to avoid war, but we are a world power and our manifold interests require us to recognize onr position as one of the foremost of the family of nations"
 Reviewing the work of the supreme court, the president warned against radical antitrust legislation and sounded the praises of the Sherman law.