The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1912-12-14


ers Are Far From Ready for Self
Government-ReguIation Of Water
Power Site Projects Urged-Pro
noting Of Colonel GoethaIs Recon-.
mended.
Washington, Dec. 6.-Congress to
lay received 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
reference to business could hardly be
better While the four years Of the
administration now drawing to a close
have not developed great speculative
expansion or 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 solid basis. Credits are not
anduly extended, and every phase of
the situation seems in a state of pre-
paredness for a period Of unexampled
prosperity. 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
sxceed $4.000,000.000, while the bal
ance in our favor-that of the excess
Of exports over imports-will exceed
$500. 100000. 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 a year of bumper
crops; the total money value of farm
products will exceed $9.500,000 900.
Il IL a year when the bushel or unit
price of agricultural products has
gradually fallen. and yet the total
value of the entire crop is greater by
over s1.000.90O.0O0 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 $s63,777,770, of which
e134.631 $50 constitute the Panama
canal loan. The MISUNDERSTANDING
debt IL $37s.301. 2s4.s0. including
e346,671. 016 of greenbacks. We have
the treasury $15o.0o00o0 In gold
coin az q reserve against the out
greenbacks; and in addition
Ne have a cash balance in the treas
ury as general fund of $167,152,47S.-
%. or an increase Of S26.975,552 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 ap-
parent exception. The estimate by
the secretary Of the treasury Of the
ordinary receipts, exclusive of postal
revenues. for the year ending June
%, 1914, indicates that they will
amount to $710.0OO.oO0. The sum of
The estimates of the expenditures for
hat same year, exclusive of Panama
canal disbursements and postal dis.
burpements payable from postal
eevenues. IL $4,000. 900. indicating a
Gs6cit of s22,00o.o00. For the year
ending June 30, 1918. similarly esti-
mated receipts were 1861. zoo, 900.
while the total corresponding esti-
mate Of expenditures for that year.
submitted through the secretary of
The treasury to congress. amounted
70 1856. 100000. This shows an in
erease Of $7S.o000 900 in the estimates
eor 1914 over the total estimates OF
1913. This Is due to an increase of
e16.00o,o00 In the estimate for rivers
and harbors for the next year on
Src1ects and surveys authorized by
congress; to an increase under the
new pension bill OF $32.500.000; and
70 IN increase In the estimates for
expenses of the navy department of
e2l.000.000 The estimate for the
navy department for the year 1913
included two battleships. Congress
made provision for only one battle
ship. and therefore the navy depart
ment has deemed Il necessary and
proper to make an estimate which IN
cludes the first years expenditure for
three battleships IN addition to the
amount required fot work on the un-
completed ships now under construc.
tion. In addition to the natural in.
crease In the expenditures for the un.
completed ships. and the additional
oattleship estimated for, the other in
oreases are due to TIE pay required
Dor 1000 or more additional enlisted
men In the navy; ane to this must be
added the additional cost of construc.
hon Imposed by the change in the
eight-hour law which makes It ap-
plicable to ships built sn private ship
vards.
With the exceptions Of these three
tens. the estimates show a reduction
his year below the total estimates for
le13 Of more than $5.0o0.000.
CIoooed SEWING Machine