Show 1 the president of the united states ADDRESSES CONGRESS s ml third amual paper Is t un haiar AND I 1 by dr western A JL pre fatu to howkins to taa 4 a of the united states i roa ere are confronted at the threshed threshold ot at roar your legislative duties with a condit condition iol of at the national finance which immediate and caretas 1 he shaou a t of 0 money annually received throng jih h tie the operation ot at present lans laws fr from am the and wee attles of the people largely exceed exceeds the te sum am necessary to neet meet the expenses ot at the government ern ment when we consider that the theory ot of oar our limitation institutions 1 to every citizen the fall endowment ct of the fruit fruits ot at his ind industry aua ail enterprise wilt with only such deduction as its cuy may be his bare share towards tae tile careful careta and acid coDon Sc maintenance of 0 the sov frament which protects protect him it Is I 1 plain abt t tue the exaction ol 01 more than this is indefensible and a culpable betrayal tryl be ot at fairness and justice this wrong In Acted upon those who bear the b burn or d ot of national taxation like other multiplies a brood ot evil consequences tits TAXA a which should only exist is as L coudill peoples tribute to its legitimate objects ot at expenditure be comes a boarding hoir ding place tor for money sed seed lessly withdrawn troa from trade and tho peoples people not e thus our eBern les usurping oar our coun kiy development develop Bent pre prevent ventla los invest 11 bot lo 10 productive prod acUre enterprises threat eat 1 g A disturbance and nd lault BK nt caal ot of public plunder this condition ot of our tre breary sarr is I 1 cot not tito sether new and nd it his more tha than once ut 1 I late be beao submitted to the people peoples enta tives la in the be congress Uon grea who lone alone CB can to apply ply a remedy bad yet the situation still continues with avra abed Inci incidents deats more than ever pro sait lar financial concu i t sion and widespread pred disaster enster di it will dot not do to neglect this situation because ite its den xer gets are re not ROW P palpably imminent and apparent parent tp they exist none ton a the lee less certainly certel ely and od the unforeseen 1 and ad 1 OCCASION CAtlOS OC came when suddenly ad deBly they will be b precipitated upon us on the ath day ot of jane IW the excess ot of revenue over public expend I 1 toree tares with the annual requIrement ot of the act wa was IT 1735 during the year ended yana jaae W 5 och such excess mounted to 15 14 0 and darlot abe year ended jane 80 amy it reached abe sum at st 31 the annual contributions to tae the fund d doring ur the three years above specia ad amounting lathe la the to 0 aud hii deductions fro from O 0 the surplus ins as stated were made by cill call IB at arp la tor r that purpose the out anding ae three e per acot bonds ot at the governo gover earnt at barll arax the six prior to jane june 3 issa I 1 the SURPLUS RE bad kad alowa ao so large by repeated seen malat loDi aad and it was feared the with drapal walet of thia this creat gres t sum of money by the people eo so affect the business busl ot of the country that the eam sam ot at ot of euch such aurilas urple wag was applied to the payment ot of the principal sad I 1 interest ri teres ot the three per cent bonds still outstanding and which were thea then payable at the option of the govern meat went the precarious condition conell llon ot of financial affairs awong the people stilt still needing relief immediately alter after tits day at jane 1687 the remainder ot of the that three bree per cent bond bonds thea oat out amount lux with ai and interest to the sam ot of 18 77 Z 00 were called in ar aad d applied to ge the sinic ing W fund contribution tor for the current t jacal year a fi THESE orm of 0 the treasury department representations ot dis tressla la clr C cles tea not only continued bat but increased ed and sad ahe solute peril teemed seemed at hand la Is these circumstance the contribution to the fund tor for the current fluidal year was at once completed by fhe the expenditure ot of la in the ot of government covern ment bonds not yet vi tat gel 1 i and 4 1 per poor cent interest the premium alum paid thereon averaging tio bont bout 24 per cent tor for the turner former and a 8 percent for or the litter lutt r a to this I 1 the interest account accruing dur ing the current year open upon the out ding bonded indebtedness ot of th abe government gove as to so some me extent client anticipated and the banks selected as depo tit I ot of the public brioney were per bitted to somewhat increase their deposits a while TUB TUX bus employed to release to the people I 1 the be money julns in ake treasury served to avert jai uger oar our surplus surto VI ye reven revenues ves bare have c continued a to at 1 pu malate the excess for the oe present r in the 1 first day ot at deyer bem to aed estimated to 0 reach t the 0 sum ot of 0 on a the 48 feitli tit of at june next net at which it dite aste it t is expected that this jum tm added to prior accumulations will well flip the surplus to the treasury trea iary to Q there seems to be no assurance that with such a withdrawal from use of the peoples circulation our community may pot 1 in tae the near future be subjected to the be o 0 distress which was quite lately produced iron the sime same can outi the functions ot at our cation nation itt III treas tr eaury tirY should be tew few and simple od ad while ite its best condition would be reached I 1 bellev 11 eby its entire alcon discon ll con with PRIVATE Juk rests yet when by a perversion of op I 1 its 1 purposes it idly holds money nse use hessly subtracted troal front the cha channels nuels ol 01 trade there seems to be reason for t the he olala malin that all legitimate means should be do devised by the government to re store to 1 e in without wa waste stere or extravagance t to its place ame ng the people it such au an o 0 emergency axi arlsie seit there 41 1 stano clear aad aa undoubted i executive power or reut re u aa u L 1 11 the redemption of th the 1 11 3 ah per r cents MY only abi which C h wre were payable at 1 abe 0 ot 01 i government covern t ment hs Us afforded IL 1 for the of the excess ot of out revenues but theae these bonds have bave all been retired and ahre art are go 0 o bonds the payments or of which we have ake lo 10 aalt on the cast c to the rr NI which tarnishes the occasion for tx x tares tures intal in the purchase ot of bond tondi as been already mide for the COM 1111 year so there Is no 0 outlet in that dl lon in the present state of lexis the only prete pretense use ot at any say exeen live tive power to tar restore stort at this time any martof art of re to the tile ysofio by its expenditure end iture con consists slate in th the bat hat the secretary at 0 t the he treasury may way enter cuter thena aad and pur case thise the bonds ot of the not yet due at a rate ct of prem laro to be reed abou the only provision ut wt tae the law from which a power could coald be derived Is in to an ampro prist loa bill passed a ulm if at years 0 o and md it Is 13 subject to tee the 3 supposition opposition rat that it was sa a temporary a and limited in lie its application aa ol 01 CO coute U ferrins Trina a CON COSTIS TEN MG 01 ol 04 authority no condition llo ought to would Ns alval ot of to a single upon bs hi at its tl acce edity ti t olit bom icom or 01 rles release to the aul ot at UW I 1 I 1 I 1 I 1 I 1 i I 1 1 I 1 t I 1 I 1 ti aa I 1 I 1 it t people 0 1 in a way w maey y bold held kniff it r tamarr aad thus af affe feet tat at Us tits will the tt financial fi cinci situate pa ot of the eia aad 1 1 it it li l I i ae mad 1 win t to lode ei in t be secretary y 0 ot th ery uri the author authority try I 1 la g the 3 present duac tare to par chabe bond bonds it should be plainly vested tested and sad provided as far as possible bifi such stich checks and haifa aona will ul denof his 11 krisht sad discretion zed at the same time relieve him trona from undue responsibility la in co considering aaldering the question ol 01 pur bond bonds as 9 mesas ol 01 restoring re to the surplus money accumulating la Is the treasury it should be b a a la in mind that mat premiums pre minn most rao t ot of cog afre se be paid upon accia that there uy ly b be a largo part a qt f taw tl bonds neld field es its investments which cin CIO not be purchased pari ened at any price aad sad among holders that are willing to fell sell cuy unreasonably acrea laibly counce the coit cost of 0 each such boad to tsie the government lovern sovern nent ment it his has bee beao s quested u that me the present bonded de debt I 1 i might be relande reland edat at a less rate at 0 interest and the difference diff crenco the old and de cerr raid paid lo 10 cash thus find india tag a uie use for or the surplus in the treasury tile tae muaia a ut i taij iada it ti is a apparent arent mint must be founded upon the quitton volition of the holders ot of the present bond bad it Is cot not entirely aln that the a inducement which mast must be I 1 offered them would la mere financial benefit 0 a the thin than the purchase pur chiae ot of boa I 1 v while the luw letter proposition would III ot of the debt br actual payment instead bl ol 01 extending t the proposition lei to deposit toe the me a ey held by tae the govera ment la in the banks throughout the country or the aee use ol 01 the people ie Is it seems lo 10 me an exceedingly objectionable t tio 1 0 n able principle as reaching rea calog too e close 1 0 se a relationship between the operations ot of the government and the baisl ness dessot of the country and tao tic extensive exten eire a commIng ilaX ot of their money thus thui fos los terl an unnatural reliance in private oualdo bu alDo s upon public ends it this scheme should bo do adopted adopt edIt it khouli only be done as a temporary expedient to meet aa an urgent necessity legislative and executive effort should hoard generally be la fit the opposite direct lin ia aad and should bare a tendency to divorce as auchard as tut fast as a safely be done abe treasury departs nt from 1 EXTER MISKi of U coarse it Is nit expected abit unnecessary and extravagant operations op w will III be made tor for the purpose ot of avoid ing the accumulation of ao an escos of tet greenne re enne nue auch duch expenditure beside abe lie demora dem orallia lits ioa loael of all aleast just conce concep eions of public daty wyica it antaus emulates emu latee a reckless improvidence sot la in the least consistent with the tall ton ion of oar our people or the bich high or ben dicent purposes eee ot of oar our government I 1 hite have deemed it my doty tons to bring the knowledge ot at my country men as well as to the attention ol 01 their representatives to the responsibility 01 0 legislative r relict ilet lor for the th gravity ol 01 our oar 4 11 altu altal atlon tio n abe my ol 01 COR lieff heretofore to provide anicet THE THC whick it was quite evident the very attar ot of the difficulty must necess necessarily 3 prodica pro doca caused a condition ot of financial distress aad sad apprehension since their lift last which taxed to abe be utmost sp ba ant borit an ci etc alye te crol aed these thesis appear now navy V to bo be ex ban t it it disaster dis asier results from the continued inaction of con contreas Conz areas rees the most must rest w where her it belongs b 0 though the titration altna tiou thus t sr considered Is fraught with daeger which should be tally fully realized aul though it presents features teai fea aree teres ot of wrong to the people as well 11 ai as to the country Is bat a result growl azout ot of a palpable alp and apprent cause coustau constantly t fy rc re producing me tile same alarming circum atances stances a 11 NATIONAL aad add a dep depleted monetary condition of the business ot of the countr it jibed d baldit be stated that wh pres I 1 ent eat demands w can ca only do b saved from a r I 1 in tae future by the rne raio M ta cause one scheme scheme ol 01 taxation by moans mean s 0 of f wh which c it this needless ned leej our surplus us Is takeo laken ruto frola the people and p put at F into ate the public treasury consists of 0 a tariff or doty duty levied upon import a t I 1 p a troa from abroad and internal te re v e enec a uc taxes levied upon the consumption ol 01 tobacco anil and spirituous and ana malt liquors it must be considered that none oi of these taxes relate to things subjected to internal revenue but are strictly speaking necessary an 1 it so arrears appears to be DO ca a a Z 0 of e oom complaint plaint to the consumers ers of 0 the article articles and thre seems to be nothing eo so well ale to bear the b burdea u aden without hardship to any oa of the ile people do but our pe pre present at tariff riff f taws asje the various art inequitable and alit sources ot of en on necessary dec S taxation ought ie to be at once kad ad amended these laws jews as their primary prImar jr end and plata eject raise the price to consumers coa ot of all ar r ucles imported and subjected to duty by precis elYthe the sum sual paid f tor 0 r suca such duties trustie Tb thus fie amo amount 0 ot t the to duty measures the tax paid by those wao who purchase tor for use these imported articles many ot of these things however bo vever are raised or manufactured la in obrown our own country and the duties now levied a pon foreign goods and sod products are CALLED to those home manufactures they render it impossible for those ot of our people wao who are to mahe 0 laese taxed articles and sell them for a price cajal to that demanded for im d goods that bave have arte paid customs daty air bo it bapple that while comparatively a few use se ibe the imported articles In illions ot at ou our r people woo never ose and never sAws ny of the tile torelia products purchase and u use e tile ame same lr klad d ade ado la in this count country ry and pay hearit nearly or quite the same enhanced pile price which abo tb duty adds to the t a ported imported article articles those who buy imports pay the duty charged thereon le to the public treasury but the lite areat rest majority 1 ot of our citizens arbo buy douie 1 articles artl clee of the same class cass pay a eum sum at least lea approximately equal to mil this duty to the borne some manufacturers IBI reference fereBee rt to the operation open llon of our TA hi III rf un LANN a Is not made by way of instruct ion but lo 10 order that we may be constantly re ot of the mauner la in which they impose 6 a upon those who con sume domestic doot lc product products as well as those who consume imported articles and thus create a it tax ix upon all oer our people peole le it Is not pro propose to entirely relieve F eye the country ot of this taxation it most continued as f the Bour coot the income governments interests Inte rota ot of 1 labor engaged in j 1 be coo cd I itous 1 the L pd our manufactures it may way bo be called pro protection lection tec tion or A adov other otter na ni but bit relief rell ef from the chip I 1 cadd ot at our ta ataria riff I 1 laws aws should about be devised with cap pedal precaution the lh existence ot of our bat this exis eue euce should cot not mesas condition which ut regard to the c wells a or a national eligene atway lasu rathe the hnud ot at moda profitable Is returns As the volume and diversity of oar our national ac tivit les increase la creaso new now rolt are added to those who debits a tio aloa a ot the I 1 which they ca conceive n belv 0 of banff tar ft tai tal atlon stion directly affords them hj 81 stubbornly have bays all extorts to reform the bee bees reeta resisted ted by those ot our fellow thus on n that t they bey cm can hardly c complain ot of the tug so suspicion ato to a certain eitt extent a t that at anero exists aa organ |