The enterprise. [volume] (Harlem, Mont.) 1899-1926, 1912-12-12
PRESIDENT. TAFT
SUBMITS SECOND
or HIS MESSAGES:
1t Deals With Fiscal, Military,
Insular and Judicial Affairs
of Nation.
MONEY CONDITIONS ARE GOOD
Plans for REORGANIZATION of the
Army Explained.


FILIPINO BILL CONDEMNED
Chief Executive Declares the Island
ers Are Far From Ready for Self
Government-Regulati Of Water
Power Site Projects Urged-Pro-
noting Of Colonel Cocktails Recon-
mended.
Washing on, Dec 6.-Congress to-
day received from President Taft the
second of his messages to the short
session. It deals with fiscal, military,
insMar 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 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 a solid basis. Credits are not
unduly extended, and every phase OF
the situation seems in a state of pre-
parednes s for 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
exceed $4000O00,O00, while the bal
ance in our favor-that Of the excess
of exports over imports-will exceed
$5O0,D00,000. More than half our ey-
ports are manufactures or partly
manufactured material, while our ex-
ports OF farm products do not show
the same increase of domestic con-
sumption. 1t is a year of bumper
crops; the total money value of farm
products will exceed $4,000, 100000.
1t is 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
OYGl IIlctA "o AoSO
known in our history,
Condition Of the Treasury.
The condition of the treasury Is
very satisfactory. The total interest
bearing debt is 1868, no, Of which
$134,631 $50 constitute the Panama
canal loan. The MISUNDERSTANDING
debt is s37s,3o1, 2s4.90, including
;$346,671, O16 of greenbacks. We have
In the treasury $150,0o0,000 In gold
coin as reserve against the out
standing greenbacks; and in addition
we have cash balance in the treas
ury as general fund of $167 ,47S..
90, or an increase of $26,975552 over
the general fund last year.
Receipts and Expenditures.
For three years the expenditures
of the government have decreased
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
ap 1914, indicates that they will
amount to $710,000,000. The sum OF
the estimates of the expenditures fol
that same year, exclusive Of Panama
canal disbursements and postal dis
bursements payable from posta
revenues, is $732, 100000, indicating {
deficit Of $22,000,000. For the veal
ending June 80. 1918, similarly esti
mated receipts were $667 ,000, 900
while the total corresponding esti
mate OF expenditures for that year
submitted through the secretary o
the treasury to congress, amounted
to $856,O00.000. This shows an in
crease OF $76,000,000 in the estimates
for 1914 over the total estimates o
1918. This is due to an increase o
@25,O00,O00 In the estimate for river
and harbors for the next year OF
projects and surveys authorized b,
congress; to an increase under thu
new pension bill Of $32,500,000; ant
to an increase in the estimates TO
expenses of the navy department o
$24.000,00O. The estimate for tn
navy department for the year 1911
Included two battleships. Congress
made provision for only one battle
ship and therefore the navy depart
ment has deemed 1t necessary an
proper to make an estimate which ir
cludes the first years expenditure 70
three battleships In addition to tn
amount required for work on the ur
completed ships now under construt
ton. In addition to the natural ir
crease in the expenditures for the ur
completed ships, and the additions
batdeship estimated for, the other II
creases are due to the pay require
tor 1000 or more additional enliste
men in the navy; and to this must b
added the additional cost of constru'
ton imposed by the change in tn
eight-hour law which makes 1t al
plicable to ships built in private shil
yards.
With the exceptions Of these thre