The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1912-12-14
CONGRESS HEARS
SECOND MESSAGE
President Tells Of Treasury and
Army Affairs.
PHILIPPINES ARE INCLUDED
Bill for Natives Independence De-
nounced as Premature-Pro0res
of Panama Canal.

Washington, Dec. 6.-Congress today re-
ceived from President Taft the second of |
his messages to the short session 1t |
deals with fiscal, military, insular and |
judicial affairs and in part Is as follows: |
The condition of the country with ref |
erence to business could hardly be better. |
While the four years of the admintstra-
ton now drawing to a close have not de-
yeloped great speculative expansion or
wide field of new investment, the recov-
cry and progress made from the depress-
Ing conditions following the panic of 1907
have been steady and the Improvement
has been clear and easily traced in the
statistics 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 prepared
ness for a period Of unexampled prosper
tty. Manufacturing concerns are running
at their full capacity and the demand for
labor was never so constant and growing.
The foreign trade of the country for this
year will exceed a. 600 900 900, while the
balance in our favor-that of the excess
of exports over imports-will exceed $780,
100000 More than half our exports are
manufactures or partly manufactured
material, while bur exports of farm pro-
ducts do not show the same increase OF
domestic consumption. 1t is q year of
bumper crops; the total money value of
farm products will exceed $500. 000, 900. 1t
Is year when the bushel unit price
Of agricultural products has gradually
fallen, and yet the total value Of the en-
tire crop is greater by over N.eoo0 100000
than we have known in our history.
Condition OF the Treasury.
The condition of the treasury Is very
satisfactory The total interest-bearing
debt is 1868, 777,77o Of which 1874 631, $50 con-
stiute the Panama canal loan. The nom
interest bearing debt is $37s 301 .2S4.90 In
Guiding $346 671, ole of greenbacks We have
In the treasury $3.50. 900 in gold coin as
q reserve against the outstan ding green
backs; and In addition we have a cash
balance in the treasury as general fund
of $751; 152. ATS &c. or an increase of $3.50
E2 over the general fund last year.
Receipts and Expenditures.
For three years the expenditures OF the
government have decreased under the In
nuence of an effort to economize. This
year presents an apparent exception. The
estimate by the secretary of the treasury
of the ordinary receipts, exclusive OF pos
tai revenues, for the year ending June
90 1914 indicates that they will amount
to $40, OO0 0o0 The sum Of the estimates
of the expenditures for that same year,
exclusive of Panama canal disbursements
and postal disbursements payable from
postal revenues is $732 0000 900, indicating a
June 80, 1913 similarly estimated receipts
were $667 000O COO while the total CORE
spending estimate Of expenditures for that
year submitted through the secretary OF
the treasury to congress, amounted TO
S6e6, 900, 000 This shows an Increase OF
S76, 900. 600 In the estimates for 1914 over
the total estimates of 1918. This Is due to
an increase of s25.0o0000 In the estimate
for rivers and harbors for the next year
on projects and surveys authorized by
congress-; to an increase under the new
pension bill of $50, 100000 and to an In
crease in the estimates for expenses Of
the navy department Of $4,000, 900. The
estimate for the navy department for the
year 1918 included two battleships. Con
Kress made provision for only one battle
ship and therefore the navy department
has deemed It necessary and proper tt
make an estimate which includes the mrs
years expenditure for three battleship:
IN addition to the amount required To-
work on the uncompleted ships now unde
construction In addition to the natura
increase In the expenditures for the un
completed ships, and the additional bat
tleship estimated for, the other increase
are due to the pay required for 4.0Oo o
more additional enlisted men In the navy
and 70 this must be added the additional
cost of construction imposed by tn
change in the eight-hour law whic
makes 1t applicable to ships built In pri
vate shipyards
with the exceptions of these tire
items the estimates show reductio
this year below the total estimates 10
1918 of more than $5,000,000.
The estimates for Panama canal con
struction for 1914 are sl7, 100000 less tina
for 1918.
The president then explained at som
length the national reserve associatio
system recommended by the monetar
commission and urged congress to eS
anime the plan impartially from a
standpoints and then to adopt som
plan which will secure the benefits de
sired.
Concerning the tariff he had little I
say In view Of the fact that new cor
gress has been elected on platforl
of tariff for revenue only.
Army Reorganization.
Our small army now consists of S3.S
men. excluding the 5000 Philippine scout
Leaving out of consideration the Goa
artillery force, whose position is fixed
our various seacoast defenses, and Il
present garrisons of our various insul'
possessions, we have today within Il
continental United States mobile arm
of only about 1000 men. This little for
must be still further drawn upon to su
ply the new garrisons for the great nav
base which is being established at Pea
Harbor, In the Hawaiian islands, and
protect the locks now rapidly approachil
completion at Panama. The forces
manning In the United States are nc
scattered in nearly fifty posts, stuat
for 9 variety of historical reasons
twenty-four states. These posts conta
only fractions OF regiments. averagi
less than 700 men each. In time of pea
1t has been our historical policy to a
minister these units separately by a &c
graphical organisation. In other wore
our army In time OF peace has never be
united organization but merely sct
tered groups of companies. battalions a
regiments, and the first task in time
war has been TO create cut of these SCI
tered units an army At for effective tea
work and cooperation