Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-12-08

| done at once; done to open routes and
: develop opportunities where they are.
! as yet undcvclopcd; done to open the
/ arteries OF trade where the currents
have not Yet learned to run, especial
/ ly between the two American CONT
ncuts, where they are siugulnriy
enough. yet TO be created and quick
cncd, and it is evident that only the
Z government can undertake such be-
gnninSs and assume the initial tinan-
[ cial risks. When the risk has passed
! and private capital begins To find It's
Way in sufficient abundance into these
new channels, the government may
withdraw. But II cannot omit 10 be-
gin. 1t should take the first steps. and
IL should take them at once Our
goods must not bc piled up at
our ports and stored upon side
tracks ia freight cars which are daily
Aecdcd on the roads: must not be left
I Without means OF transport to any
foreign quarter. We must not await
the permission of foreign ship-owncrs
ana foreign governments to send them
! where Will.
4 With a view to meeting thcs, press
/ !Ug necessities of our commerce AMI
lavailinG ourselves at the earliest pos
I SlDic moment OF the present unD3r1
! lelcd opportunity OF linking the two
Americas together in bonds Of mutual
/ interest and service. an opportunity
watch may never return again IL We
miss IT now, proposals Will he made
] TO the present Congress for the pur-
chase or construction Of ships TO be
owned ana directed by the govern
mcnt similar to those made TO the last
Congress. but modified in some essen
! tai particulars. | recommend these
proposals to YOU for your prompt ac-
iCcptauCc With the more confidence he
! cause every month that has elapsed
/ since the former proposals were made
has made the necessity for such action
more and more manifestiy Imperative
THAT need was then fnrcsccn: ii is now
;cuicly felt and everywhere realized
/ hv those for whom trade ~ waiting
! but who can find no conveyance for
| their goods. am not so much in
iaIcstcd in the particulars OF the pro-
| gram as am in taking immediate al E.
| vantage OF the great opportunity
Which awaits us If we Will but act in
| this emergency. In tbs matter. as
! in ali others, a spirit OF common ccun.
sci should prevail. and out Of it should
! come an early solution OF this press
! ing problem.
MUST PROMOTE INTEREST
OF ISSULAR POSSESSIONS
| There is another matter which seems
to me To be very intimately associated
with the question of national safety
and preparation for defense. That il
our policy towards the Philippines and
the people OF Porto Rico. our treat
mcnt of them and their attitude to-
wards us are manifcStly OF the first
consequence in tho development of our
duties in the world and in getting "a
| free hand 10 perform those duties We
must he free from every unnecessary
burden or embarrassment; and there
/ is no better way to be clear OF en-
| barrasSmcnt than to fulfil our promises
and promote the interests of those de-
pendent on us to the utmost Bills
| for the alteration and reform of the
, government of the Philippines and for
rendering fuller political Justice to tho
people of Porto Rico were submitted to
| the siXtE-third Congress. They Will
he submitted also to you. I need not
particularizc their details. You axe
most OF your already familiar with
them. But ! do recommend them to
your early adoption with the sincere
conviction that there arc few meas
urcS YOU could adopt which would
more scrviccably clear the way for
the great policies by which we wish
to make good, now and always. our
right to lead in enterprises of peace
and good will and economic and politi-
cal freedom.
The plans for the armed forces Of
the nation which ! have outlined. and
| for the general policy of adequate prep
aration for mobilization and defense.
involve Of course very large additional
expenditures of moncy-eXpendltures
which will considerably exceed the cs-
timatcd 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 Congress to the fact
and suggest any means OF meeting the
deficiency that it may be wise or pos
to believe that II would he my duty to
! do so in any case; and / feel particu-
! larry bound to speak of the matter
when il appears that the deficiency
| will arise directly out OF the adoption
| by tho Congress OF measures which I
| myself urge 1t to adopt. Allow me.
| therefore, to speak briefly Of the pres
cnt state OF the Treasury and Of the
| fiscal problems which the next year
/ will probably disclose.
PRESIDENT OUTLINES
| FINANCIAL CONDITIONS
On the Goth Of June last there was
| an available balance In the general
fund Of the Treasury OF $104.170,105.7s.
| The total estimated receipts for the
| year 1916. on tive assumption that the
! emergency revenue measure passed by
| tho last Congress will not he extended
| beyond it's present limit. the 3ist iof
| December, 1915, and that the present
duty of cent per pound on sugar will
! be discontinued after the LIST of May,
| 1916, will be $670,365.500. Tho balance
of June last and these estimated rove