Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1915-12-10

/ trade, and are without means to extend
| our commerce even where the doors are
| WIDE open and our goods desired. Such
a situation is not to be endured It is
| of capital Importance not only that the
| United States should be its own carrier
on the seas and enjoy the economic in
/ dependence which only an adequate mer-
chant marine would give it.sbut also that
the American hemisphere as a whole
should enjoy like independence and self
| sufficiency. If 1t is not to be drawn into
the tangle OF European affairs without
| such independence the whole question of
our political unity and self determination
| is very seriously clouded and complicated
| indeed.
Moreover, we can develop no true or eff
| fective American policy without ships of
| our own-not ships of war, but ships of
peace. carrying goods and carrying much
more: creating friendships and render
| ing indispensable services to all interests
on this side Of the water. They must
move constantly back and forth between
the Americas. They are the only shuttles
| that can weave the delicate fabric of
| sympathy, comprehension, confidence and
mutual dependence in which we clothe
our policy of America Cor Americans.
Ships Are Needed.
The task of building up an adequate
merchant marine for America private
capital must ultimately undertake and
achieve. as it has undertaken and
| achieved every other like task amongst
| US in the past with admirable enterprise
| intelligence and vigor; and it seems to
me manifest dictate of wisdom that we
| should promptly remove every legal OBJ
| stacle that may stand in the way of this
much to be desired revival of our old in
| dependence and should facilitate in every
possible way the building. purchase and
| American registration of ships. But cap
/ iC foS of
/ a sudden. It must embark upon 1t by de-
| grees. as the opportunities of trade de-
| velop. Something must be done at once;
| done to open routes and develop oppor-
| tunities where they are as yet undevel-
/ oped; done to open the arteries of trade
| where the currents have not yet learned
| to run-especially between the two Ameri-
| can continents, where they are, singularly
enough, yet to be created and Quickened;
| and it is evident that only the govern
ment can undertake such beginnings and
| assume the initial financial risks. When
| the risk has passed and private capital
| begins to find it's way in sufficient abund-
| ance into these new channels, the gov
eminent may withdraw. But 1t cannot
| omit to begin. It should take the first
| steps and should take them at once. Our
| goods must not lie piled up at our ports
| and stored upon sidetracks In freight
| cars which are daily needed on the roads;
| must not be left without means of
| transport to any foreign quarter. We
must not await the permission of foreign
| ship owners and foreign governments to
send them where we will.
| With view to meeting these pressing
necessities of our commerce and awaiting
ourselves at the earliest possible moment
| of the present unparalleled opportunity Of
| linking the two Americas together In
| bonds of mutual interest and service, an
/ opportunity which may never return
| again if we miss 1t now. proposals will
| be made to the present congress for the
/ purchase or construction of ships to be
owned and directed by the government
similar to those made to the last con-
| gress, but modified In some essential par
ticulars I recommend these proposals
| to you for your prompt acceptance with
the more confidence because every month
| that has elapsed since the former pro-
| posals were made has made the necessity
| for such action more and more mani +
| testify Imperative.
Question Of Finance.
] The plans for the armed forces of the
! nation which / have outlined, and for
| the general policy Of adequate prepara-
| ton for mobilization and defense, in
| volve of course very large additional ex-
] penditures of money-expenditures which
will considerably exceed the estimated
| revenues Of the government. 1t is made
| my duty by law, whenever the estimates
of expenditure exceed the estimates of
| revenue to call the attention of the con-
| gress to the fact and suggest any means
| of meeting the deficiency that it may be
| wise or possible for me to suggest. I am
ready to believe that it would be my duty
| to do so in any case; and / feel particu-
| larly bound to speak of the matter when
! it appears that the deficiency will arise
directly out of the adoption by the con-
| gress Of measures which / myself urge
/ + 10 cd me
| speak briefly of the present state of the
| treasury and of the fiscal problems
which the next year will probably dis
| close.
| On the thirtieth of June last there was
| an available balance in the general fund
| of the treasury of $104, ITO, 105.7S. The to-
| tai estimated receipts for the year 1916,
| on the assumption that the emergency
| revenue measure passed by the last con-
! gress will not be extended beyond its
| present, limit, the thirty-first of Deem
Der, 1915, and that the present duty of
| one cent per pound on sugar will be dis
| continued after the first of May, 1916,
| will be $670, 1865 500. The balance of June
| last and these estimated revenues come,
| therefore, to grand total of $774. 535, COSTS.
| The total estimated disbursements for the
present fiscal year, including $25,0o0.OOO
! for the PanamaScanal, SIS, ZOO, 900 for prob
! able deficiency appropriations and $780,
| 900 for miscellaneous debt redemptions.
will be s75S, S91 600; and the balance in the
general fund of the treasury will be re-
| duced to $40, ,6O5.7S. The emergency
| revenue act, If continued beyond its pres
| emit time limitation. would produce, dur
! ing the half year then remaining, about
| forty-one millions. The duty of one cent
per pound on sugar. If continued would
! produce during the two months of the
| fiscal year remaining after the first OF
May, about fifteen millions. These two
| sums, amounting together to $56,OO0,O00,
! If added to the revenues of the second
half of the fiscal year, would yield the
| treasury at the end of the year an avail
able balance Of $76, ga, COSTS.
| The additional revenues required to
carry out the program of military and
| naval preparation of which / have spok-
| en-, would, as at present estimated be
| for the fiscal year 1917. $93,S00,OOO. Those
| figures, taken with the figures for the
present fiscal year which I have already
A,oo 3o1 for