Norwich bulletin., 1912-12-07

Sending a second message tN ,-. grrss on hscai. judh-iat. military au insular affairs. President ra9t eNpall that. as the iBessage of Dee. 5 wa confined to foreign relations and as a full discussion Of all tue transattiuhs of the government requires nF.rr SiNir' than Une tpessage of rraSGnShte ieuSti affords. "l have therefore adopted lAc course of sending thr~e or t0r meS sages during the first ten days of th session so Ms 10 Include reference t. mere important matters that should be brought to the attention uf coh- gress.'
 The president finds the country In period of successful business. with. year of bumper crops. For the laSt three years the government has saved much by sensible economy. He finds the crying need of the country is d pFUper banking and currency system and says that customs duties should ba revised downward. He strongl.
 
 appropriation for strengthening our foreign possessions at the earliest pos sible day. lu recognition of his work on the Panama canal President Taft recommends the promotion of Colonel Goefhals to the rank of major general
 The president says reduced expendi tures in the navy mean reduced mill tary strength and deems that the h. crease should be at least two battle ships a year and battle cruisers gun boats and torpedo destreyers and sub marines in proper prOPcrti0a.
 He comBends the calm, orderly way in which the trusts are being proceed ed against and says steady, consist cut course. without any radical legis- lation changing the present govern msatai policies, is going to offer . se- lutioa to the problem. Ths eeRatry's business first engages the presidents Rttentioa.
 Business Conditions.
 The condition of the country with reference to business could hardly be better While the four years of the adninistFstea HOW drawing to close have not developed great speculative expAnSSea or wide field of new in- vestzaaat. the recovery aud progress made from the depressing conditions following the panic ef 1907 have been steady, and tine Improvement has been clear and easily traced iB the stats- tics. The business of the country is now on a solid basis Credits are not HsdHly extended. and every phase of the situation seems in a state of pre- pafedness for period of unexampled prosperity,
 Manufacturing concerns are run- niag at their full capacity, and the demand for labor was never 30 eaa- stant and growing. The foreign trade of the eolHtry for this year will ex- ceed S+,Oa, ,0Oa,O6A, while the balance in OBr favor-that of the excess of ex- ports over impOFts-will exceed $500.- 0oo.00o.
 It Is year of bumper crops. The total money value of faFm products will exceed $s.5OO.O 100000. 1t is a year when the basliei or unit price of agri- RaitHral products has gradually fallen, Rnd yet the totAl value of the eatfre erop is greater by over $1 1.OO9, 900, ,O00 han we have known in our history.
 Condition of the Treasury.
 The coalition of the treasury is very IatisfaetoFy, The total interest bear, VI debt is SAiS,TT11T7, ,77TO. of which $lS4,. S1.9S0 constitutes the Panama canal oan. Tue noniHterest bearing deht is ETS,3Oi ,.'s4 !M, including $34si, SHl .O1C 1T gTeeHtE't'kS We have in the treas iry SlattHn.tEh in gold coin as a re 1erve against the outstanding green, backs; and m addition we have cash balance ln the treasury as general und of $lE1 ,l52.4IS00. or ap increase Df $26O75,552 over the general fuad last year.
 Receipts and Expenditures.
 For three years the expenditures ot the government have decreased under the influence ef an effort to econoinize This year presents an apparent excep ton. The estimate by the secretary Oi the treasury of the ordinary receipts exclusive of postal revenues. for the year ending June 30, 1914. indicates that they will amount to $7I00UOll09 The sun of the estimates of the ex pendituFes for that same year, exciu sive of Panama canal disbursements and postal disbursements, pay able iron postal revenues, is $T32.0HlACN, indi eating deacit ct $220o0.0Ou
 For tue year cuding June 39, 1sla stmiiaFly est palsd receipts were sSg7, 009D00 allie the total corresponains estimAte qf expenditures for that year bubunitte5 threagu the secretary of ths trensrTy te eeneress, sm0pntpd ts s6ss. .e0Q9sa E6js. shaws as iaereas, pf s7s 0og eee in the estimates for isiA e<es tbe total estimates of 19a3
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