Show V VOl VOLUME rm ot Ol OJ lX TRADE The total value of our foreign trade export ex ex- V ports port and nd imports duri during daring the list last fiscal V an no increase e of ot orV V V year sear U was V V t CO-t over tb the previous fiscal year The rhe he average average annual value rattle of oar or Imparts ts au and aud V exports of merchandise for the 10 fl cj V V V years Tears prior to 0 18 1801 was V It t will be observed e l that our forel foreign l trad for r V V 1802 2 wl exceeded ibis annual average A P u J by y ll er Increase of tr cent V an fr 2747 V V The an and v value lue of oJ Vf are arc sh shown wu by the fact that lu o excess w In V V time the trade of W 1892 over oter IS ISO w 3 wholly Jn in inI II was as a n aV de decrease j I r he valne value of exports tC V s or of V crease In th the value of f f J ore sl V Ports during timit V V A 4 The value of ow V 1 reached l the hIghest c V f cal nl l 1802 3 h h V 1 yer fn lu the ht of the Ibe l V V V n to by hy V V U V tm exports Of 1 1511 and wul ex cx V c g 73 the 11 of the tuc by b. b V V f 2 fon n of or the mine valne of or our expo exports s tho the annual average for the theto V V- V i r prior to 1801 shows slows an excess of or V or of Si per cent ent The value rimie pour our Imp Imports of merchandise handte for 1802 l. l was W f also exceeded the V V V annual average mimic Bailie of he 10 years prior priori i V V V to t by bT 1210 During the tho V V year 1802 16 the alue lue of Imports free frOC of duty duly amounted to the largest ag- ag V V In the history of our The value of or the imports of or merchandise entered V free of duty in Ito 18 was K 35 per cent of V the the total value of Imports as S compared ed with V 4 43 35 per cent In 1 1101 1 and ane 30 60 per cent centI I la 1 1 1800 l mY PEOPLE V Another of the general prosperity prosper prosper- per per- V V lt ity of ot time country countr Is l found In the fact that Hlat l' l V V the number of 1 depositors in savings banks V increased from flom in 1860 15 to J V In ISOO 10 18 an 11 Increase of 13 j ier er cent and aud V V V the of 01 deposits Trout from froU In inV V If to I in 1500 11 an nfl increase V V V of C 1 per cent cent In 1 tIme tle amount of ollIe- ollIe de deposits deposits de- de V posits in savings bouts bans was S J Jt is estimated th that t DO 10 U per cent of these de- de V JV J posits represent the tie savings of age wage vage U- U V. V era crl The rhe book bank ank clearances for tor nine months V V V ending 30 00 O. O 1801 1831 amounted to 11 04 01 l For Tor or lime Hie s some In VV VV they amounted to 4 1 an nn excess V V V for tor the nine nino of V There never has lias ba been blen a n limo in our history his his- V V tory when work waa tm-as BO so fO abundant or wh when J wages rages were vere so 10 o high whether raea measured b by the curren currency In which they are paid paM or by byc f c V their power to sup supply pi the time n necessaries and V V comforts of life ure It It Is true tree that the market market mar soar V ket prices price of ot cotton coton and wh at have bare been V V low It I 1 Is bono ono one of ot the unfavorable incidents incident of ot agriculture that the f farmer flume aimer cannot produce pro oboe duce upon orders order Ho lie 10 must sow lOW nod and reap nap V lu fn ignorance of the tho aggregate ate production o oCI of oC I V V the year em and Is H peculiarly subject to the depreciation which follows over V tion Con lint Jut while this thim fact act Is true as a to tl the the V crops I have baTe mentioned mentone the general a average aver er V age ago of prices price bate bare been such tools as to give ghe to toV V V V agriculture a I fair participation In the gen oral cral prosperity The m of or our total V farm tarm fam products has hu increased from 1203 1263 in 1860 18 to In V VV as 1 estimated by statisticians an nn l increase of mf 2 per cent cent TUC rhe he number of hogs Jan Jan 1 1 1831 was V V r. r r and their value on V VV V JIm Jan 1 1 1 1802 the number numbEr was wa 1 V and their value alue Jan 1 1891 the number of cattle catle was vas Wi and V the total total value on Jan Jai 1 l lire 1 V theY the number was wa und and he the tie value m BENEFITS OF OP PROTECTION V If jf I any uy are arc discontented with wiLls their state bere here if an any believe belleve that tha tho the wages wage or prices r fh the returns for honest toll tOil tol eve arc lre inadequate they hey should not fall to remember remembEr that there there- 1 is I no other country countr in the world where the conditions that seem to th them the l hard would not Jot bo ho 10 accepted as I highly prosperous The English agriculturist wol bo be glad gad to ox- ox tho r return of ot hll hi I labor bor tot for ot of V tho tit n farmer and nd nd tut tM r wU eftI tar tor thea it t Ibm f ft A tu fl- fl tf t t pal hit toy like uke 30 so tnt k i P FJ- FJ 4 Hi th Il b 4 U l W l I Inan nt for tor the tle dt ot pf bt bd- bd lions tona wealth and a it most agency 1 Ig In lu protecting the homes of r f od our nl from the Invasion of or want I l la liarS ne felt a 1 most S interest to preserve to our people eo l rates of wages that would not Only give dally daily daly bread but supply a cow com l' l margin magin for lor those homo home attractions and Ind family comforts comfort and enjoyments without without with with- wih- wih out which life Is 18 neither hopeful nor sweet They Ther are ae American a. a art of the great cat l people il for tor whom our constitution end and Ind kOve government were fi framed med tnt and instituted and It I can not be be a perversion of 01 that t constitution coo con on t te to eo so 8 legislate AS I to preserve In their homes bomes the comfort Independence loyalty and sens sense of Interest in th the govern govern- overn- overn met mat which are arc essential to good citizenship in peace and which will viii I bring them as a In to Jo the defense of 01 the flag dug tag when hen it is assailed It ii I Is ts n net t ly 7 1 purpose to renew renew herO here the ho argument Ir In lu favor for of or a protective tariff Tho The result resul of ot the recent election must be bo boAtle Atle accepted te as having haing Introduced a new policy poley Vc taut must assume that use the present tal tariff constructed upon the lines of or protection Js Is Isto to be repealed and Ind that there Is to be sub substituted sub s for It a tariff tal law Jaw constructed solely with wih r reference to tha that thai no duty Isto is isto I to 10 be higher because the tho increase will wi keep open an American wilt mill 11 or keep keen keep up the th wages o of an American workman but that in every ever case such a rate of duty dut Is to be he imposed as ns aswill aswill will wi bring time Ibe treasury of ti the th Un United I 11 S Stales th tM l largest return of revenue The re contention eon con n- n tenton has hns not been between but between principles and tt It i would be oen offensive ive ire to suggest gest that the pr prevailing party will trill not tarry carry carr Int legislation the principles advocated advocated ad ad- ni by t and Ind the p wedges pledges edgel given to the teo people people- lt brt The tariff bult bills bUl passed passe by the house bouso oise of representatives at lt the tho last lat session were as 4 is I supposed even in lit the opinion o Oi 0 their promoters I Inadequate timid and Justified on only I by the time fact tAt that senate and time the house bouse of representatives were not In accord and stint a general revision could not therefore there there- fore be I recommend that the tIme whole bolc subject ot of oJ tariff tart revision be left let to the In incoming ton Con press ese It I t is tl a I matter mater of i egret that tUat this work must be delayed for tor at least lest thre thre months mouths for tor or time the threat of 01 great tariff tall I introduces so 10 munch much uncertainty en that an amount amount not easily estimated estimate of business Inaction and amid of diminished production wilt will r necessarily result It li Is possible also that this uncertainty may result lit imi decreased revenues from customs Customs duties dutes fot to our ml mer merchants chants will cautious ut us orders of ot foreign lon lon-lio goods In lii In view of tho the prospect of reductions and nUl time the uncertainty as to when It will take V I I lt effect RESULTS TO HB DE m EXPECTED Those Thos who have ho advocated onte nd a a. I tariff van can well afford to have hare their tn veI tl ther disastrous disastrous' trous trous' forecasts of a I change of policy dis appointed If I a I system of customs duties can be framed that will wi set the idle wheels and looms V ot fV Europe in motion tf moton and crow cro cow i our wl with b foreign made goo goos and amid at a the same time tOe k keep p our OW own busy that will u-in wl give us an Increased pa 3 I Patton atlon in the markets of the world greater value than thoo the home borne market marl t wi we p surrender de that will wili I give e r t to foreign e workmen upon p product me by o our OU people without 11 lug ing lg the amount of work to t be b d i ier that will 11 en enable ble the th American mat tu l to pay to his w workmen Irons from 50 to vet cent more snore In I wages sties es than titan is I patti paM j 1 r. r eight eg mills mIs and yet ret to compete j Ja and in foreign mar with ith the foreign producers that iri I further further fur fur- ther thee reduce the cost cst of f wear and ansi toed food to without reducing I thi thai of ot t tho tor o t who re produce l' l n h n J b ue be ct ctr ctt- ctt r IU won s at ax s In Am American cams ean cOe clues cities the and promoters of it 1 wilt will wi bo he entitled tc to te the highest highet high high- est et praise Ve We e have had hai In our history of the contrasted effects effect of a a. I revenue and a protective e tariff but this generation has as 11 not no felt tin them and MIl the tho ex experience cx- cx CX of exie oue generation is I not highly In Instructive in- in to the thet lbs Tho rh frient of e t. t prot protective system with 4 ea LU Lv- Lv In the principles les they h have lia e wire who d. d will wi await the results of the new experiment UlO UPON WAGES The and nd too often dl disturbed pano to ofen re- re re existing between the time and k in Sn U our great gent manufacturing ati X have lato 13 0 not miot b be hem n favorable to toa toi a i calm consideration b by t the le wage age earner arner of the effect upon tilton wages ages of the tho tie protective SI tem tc The facts that lib his waxes wages were time the highest paid inid loil lu II like callings iu in the world and und that it a 1 maintenance of or this rate of wages nage's In II the absence of duties upon the time product of f hi III labor luor was nas WI ethic were b by imy the passion evoked i b by these contests lie He ie may lay now bo be al able ablo lo loto to 0 review rc tho question queston in ims the time light of his I personal experience under the operation of a tariff for fo revenue only If I that experience shall demonstrate that the present rates of wages trages are aro thereby maintained or Incensed increased either cither absolutely absolute or in their purchasing power monet OWer stud and d tho the aggregate volume of work to be done in II this thi country is II increased or even eyen 01 en maintained that there thee aro are more or as t amany days days' work lu itt II a t year jear ear at as good goo or better wages for the tho American workman as I Ihs has hs been the time case cal under the Irot the R system tem every eiery one will 1 rejoice A general process of ot wage cage reduction cannot cannot can can- n- n not nt be contemplated by 1 any patriotic citizen without the gravest apprehension It I mommy IDI be b Indeed I believe is possible for the manufacturer to compete successfully successfully success success- fully with wih his foreign In II man many amity branches of production without the defense of protective protect duties ditties if i the pl pay rolls rols are equalized but the conflict that stands be- be turen tho the producer nod and that result and the tho distress of our working people when It Js is I attained are aro not pleasant to contemplate The Society Slety of the Unemployed now hold hold- lug Ing its JB frequent and threatening parades pam Inthe in inthe the streets of or foreign jellies tes should not bo ho allow allowed ed to acquire an n a American do domicile 2 I IA HAWAII WAI Our relations with Hawaii have hare beets been such as to attract an increased Interest and must I continue to do PO so I deem It I of great importance im Jm- Ima- Ima prace that tho the In projected sub sub I cable a survey surey f tr fr r which U has bos ha been ben toads made should be boll for naval and amil 1 commercial uses We Yc have quick communication Wo We 0 I should hou II b bOlero before foro tills this have haTo availed ourselves of time the concession made outdo many years rear ego ago to 10 this government got for o a n harbor barber habo and naval nn al station staton at nt Pearl lean they Many lany evidences of ot the friendliness of th the Hawaiian government have been beets given len in the past pat aud amid it i Is gratifying to believe that the tho advantage and necessity of ot ofa a St continuance of very Tery close relations is I up ap predated EUROPEAN NATIONS The friendly net act at of t this timis government In expressing to time the of J Italy ly its is reprobation and ald abhorrence of or use tue Ite lynching of or Italian Iala subjects In New Orleans by the time payment of f flO or was tas accepted ac no- ae by the time King of Italy Ialy with wih every manifestation mast man of ot gracious acou appreciation and the Incident has been highly of mutual mu iou- u. u tuai tua respect rc and Ind good 10 will trill wi In consequence of 01 the action acton of the French rench government In proclaiming a I protectorate protectorate o over er certain tribal districts of the time west coast coat of ot Africa eastward of the Sun San SIU Pedro ero river flyer I have felt folt constrained to tomake tomake tomake make protest o against this encroachment upon the territory of a n republic which was wa founded by b. b citizens of the tho United States and towards which this country h has for forman man many years hed held the Intimate relation of a I friendly counselor V b i abe DO recent disturbances of time the public peace by bi lawless foreign marauders on the pace Mexican frontier have bare afforded the government government government govern govern- ment an ar opportunity to te testify lt Its Us good goodwi goodwill goodwill will wi for tor Mexico and aud Us Its Is earnest eanest to fulfill the obligations of f International friendship by pursuing and dl dispersIng tho the evil doer The fhe work oik of f relocating thu tha bound boundary r of the treaty of or Guadaloupe Il- Il 1 1 drIgo front 1 El Ei 1 Vase Jaso JaSu Is i pio IIO greening favorably Par ur intercourse with Fp ln continue On oa good terms terras I J regret however nt not to tobio bo 00 ablo bio to p report ft as ast yet tt t lbs cf ci the tuo c ot of tn fn ml WA tile l t qi ID C Hwd a fi nt t t Jl onre M 1 I f t o f at t Antl tO ft 4 tit 1 fA U th i th tM iun n M l V |