Mexico Missouri message., 1912-12-12

,rs Are Far From Ready for Self
eoyernment-Regulation Of Water
Power Site Projects Urged-Pro.
noting Of Colonel Cocktails Recon-
mended.
Washington, Dec. 6.-Congress to-
day received from President Taft the
second Of his messages to the short
session. It deals with fiscal, military,
,psular and judicial affairs and In
mart is as follows:
The condition OF the country with
reference to business could hardly be
hotter. While the four years of the
administration now drawing to a close
have not developed great speculative
sIpansion or a wide field Of new in
vestment, the recovery and progress
made from the depressing conditions
following the panic of 1907 have been
steady and the improvement has been
clear and easily traced in the Stats
Tics The business of the country is
now on a solid basis. Credits are not
unduly extended, and every phase Of
the situation seems in a state of pre-
aredness for a period Of unexampled
prosperity. Manufacturing concerns
are running at their full capacity and
the demand for labor was never 30
constant and growing The foreign
trade Of the country for this year will
exceed s4,000,O00000. while the bal
snce in our favor-that OF the excess
Of exports over imports-will exceed
SOO,0O0,0O0. More than half our ex-
ports are manufactures or partly
manufactured material, while our ex-
ports OF farm products do not show
the same increase OF domestic con-
sumption. II is n year of bumper
crops: the total money value of farm
PRODUCTS will exceed $9.500000. 900.
/ Is year when the bushel or unit
| price OF agricultural products has
gadually fallen, and yet the total
niue OF the entire crop Is greater by
over S1,OOO,000000 than we have
| Known in our history.
Condition Of the Treasury.
The condition of the treasury is
very satisfactory. The total interest
bearing debt ia s963,777,77O, OF which
'l3iG31 $50 constitute the Panama
canal loan. The non-interest-bearin
debt is s37S,301 2S49O, including
Si667l0l6 OF greenbacks. We have
10 the treasury s150,0O0,00O In gold
coin as a reserve against the out
Standing greenbacks; and in addition
We have a cash balance in the treas
ury as a general fund of S167,15247S.-
80, or an increase OF $26,975,552 over
the general fund last year.
Receipts and Expenditures.
For three years the expenditures
Of the government have decreased
under the influence of an effort TO
economize This year presents an qp-
parent exception. The estimate by
the secretary of the treasury OF the
ordinary receipts, exclusive of postal
revenues, for the year ending June
80, 1914. indicates that they will
amount to s7l0,000,000. The sum OF
the estimates of the expenditures for
mat same year. exclusive of Panama
canal disbursements and postal dis
oursements payable from postal
revenues. is 1892 100000, indicating Il
deficit Of S22000,000. For the year
ending June 30, 1918, similarly esti-
mated receipts were 1867 100000,
while the total corresponding esti-
mate OF expenditures for that year,
submitted through the secretary Of
ne treasury to congress-, amounted
S656OO0000 This shows an in
! crease of $4,000 900 in the estimates
10Y 1914 over the total estimates of
.sI@ This Is due to an increase OF
'1oVUOooO In the estimate for rivers
anu harbors for the next year on
projects and surveys authorized by
"usFess; to an increase under the
We" pension bill OF 1872 100000: and
an Increase IN the estimates for
expenses OF the navy department OF
'-7VOO,oOO. The estimate for the
navy department for the year 1913
~c,uued two battleships. Congress
Iaue provision for only one battle
s"p' ana therefore the navy depart
u'ent mas deemed It necessary and
proper to make an estimate which in
vuues the first years expenditure for
u'ee battleships in addition to the
'Iolht required for work on the un.
,ul'pIeted ships now under construc-
WI In addition TO the natural In
Ease In the expenditures for the I'M
SsOupleted ships. and tho additional
os,ueship estimated for, the other IN
%, 'sts are due to the pay required
f,VoO or more additional enlisted
ssg u 10 the navy; and to this must be
r sue1 the additional cost of constEuc.
oCn imposed by the change in til ,
,tuthour law which makes It ap-
va. a.soIe to ships built in private ship
with the exceptions of these three
AN, the estimates show a reduction
,o,. year below the total estimates for
"'' Oh more than 100000.