The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1912-12-13
CONGRESS HEARS
SECOND MESSAGE
President Tells of Treasury and
Army Affairs.
PHILIPPINES ARE INCLUDED
Bill for Natives Independence De-
nounced ss Premature-Progress
Of Panama Canal.

eeived from President Taft tho second OF
his messages TO the short session. IL
deals with fiscal. military. insular and
judicial affairs and In part Is follows:
The condition OF the country with ref
erence 20 business could hardly be better.
While the four years OF the administra-
tion now drawing to a close have not de-
velopsd 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 end easily traced In the
statistics. The business OF the country IL
now on a solid basis. Credits are not
unduly extended and every phase OF the
situation seems I'm a state OF prepared
ness for a period OF uneXampled prosper
Ity. Manufacturing concerns are running
al their full capacity and the demand for
labor WAS never 80 constant and growing
The foreign trade OF the country for this
year will exceed 1900 900. 900. while the
balance I'm our favor-that OF tho excess
OF exports over imports-will exceed $780,
100000 More than half our exports are
manufactures or partly manufactured
material, while our exports OF farm pro-
ducts do not show the same increase or
domestic consumption. II is a year OF
bumper crops; the total money value OF
farm products will exceed 50 500, ,00O. 900. II
n n year when the bushel or unit prico
OF agricultural products has gradually
fallen. and yet the total value OF the en-
tire crop ia greater by over 81. 900, 900
than we have known In our history.
Condition Of the Treasury.
The condition OF the treasury Is very
satisfactory. Tho total interest bearing
debt Is $685., TIT 10. OF which Sl34 63l $50 con
stlute the Panama canal loan. The nom
interest bearing debt is 1878 30l. 80, In
Guiding $3t6 CT, ,0l6 Of Rreenbacks We have
IN tho treasury $3.50 100000 I'm gold coin as
q reserve against the outstanding green
backs; and I'm addition we have cash
balance In the treasury "a a general fund
OF slG7. 1852, 90, or an increase OF 326.9I5.-
652 over the general fund last year.
Receipts and Expenditures.
For three years the expenditures Of tho
government have decreased under the In
fuence OF nm effort TO economize. This
year presents an apparent exception The
estimate by the secretary or the treasury
Of the ordinary receipts exclusive OF pos
tai revenues, for the year ending Juno
30, 1914 indicates that they will amount
n $40 600 600. 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 S732. 5000. indicating
deficit OF $4,000 COO. For the year ending
June SO 1913 similarly estimated receipts
were sG67 100000. while the total corre-
spending estimate OF expenditures for that
year, submitted through the secretary OF
the treasury 10 congress. amounted TO
$685., 600 900 This shows an increase OF
s76 600 900 I'm the estimates for 1914 over
the total estimates OF 1913. This is due 10
an Increase Of S2S. 900 900 In the estimate
for rivers and harbors for the next year
on projects and surveys authorized by
congress; 20 an increase under the new
pension bill OF So, 100000 and TO an In
crease I'm the estimates for expenses OF
the navy department OF $4,000 900. The
estimate for the navy department for the
year 1919 included two battleships. Con-
gress made provision for only one battle
ship, and therefore the navy department
has deemed Il necessary and proper TO
make an estimate which includes the first
years expenditure for three battleships
I'm addition to the amount required for
work on the uncompleted ships now under
construction In addition 20 the natural
Increase I'm the expenditures for the un-
completed ships. and the additional bat
teship estimated for. the other increases
are due 10 the pay required for 1000 or
more additional enlisted men In the navy,
and TO this must be added the additional
cost OF construction imposed by the
change I'm the eight-hour law which
makes II applicable TO ships built In pri-
vate shipyards,
with the exceptions OF these three
items. the estimates show a reduction
this year below the total estimates for
1913 OF more than $4,000 900.
The estimates for Papama canal con-
structon for 1914 are 81. 900 less than
for 1918
The president then explained at some
length the national reserve association
system recommended by the monetary
commission and urged congress to ex-
anime the plan impartially from all
standpoints and then to adopt some
plan which will secure the benefits de-
sired.
Concerning the tariff he had little to
say In view OF the fact that a new con-
gress has been elected on n platform
OF tariff for revenue only.
Army Reorganization.
Our small army now consists OF So 500
men, excluding the 5000 Philippine scouts
Leaving out OF consideration the coast
artillery force whose position IL fixed in
our various seacoast defenses. and tho
present garrisons OF our various insular
possessions. we have today within the
continental United States a mobile army
OF only about as 900 men. This little force
must be still further drawn upon TO sup
ply the new garrisons for the great naval
base which Is being established at Pearl
Harbor, in the Hawaiian islands. and TO
protect the locks now rapidly approaching
completion at Panama. The forces re-
naming I'm the United States are now
scattered In nearly nifty posts. situated
for variety OF historical reasons In
twenty-four states. These posts contain
only fractions OF regiments, averaging
less than 7o0 men each. I. time OF peace
II has been our historical policy 10 ad-
minister these units separately by a geo
graphical organization. In other words.
our army I'm time OF peace has never been
a united organization but merely scat
tered groups OF companies. battalions and
regiments. and the first task In time OF
war has been TO create out OF these scat
tered units an army NJ for effective team
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