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Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, December 22, 1911, Image 3

Image and text provided by University of North Texas; Denton, TX

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn85042551/1911-12-22/ed-1/seq-3/

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T
Holiday
Gift Suggestions
aMESSAGE OF PRESIDENT r-
TAFT SHOWS FINANCIAL
CONDITION OF TREASURY
For Tardy Bayers
Here's but a few of
the many suggest-
,tions that this store
famishes to those
who have not yet
determined upon the
matter of GIFTS.
There's something
here to interest evVy
member of the family
Huyler's Candy
Liggett's Candy
Fenway's Candy
in Boxes of Various
and Convenient Sizes
Brush and Comb
Sets
Manicure Sets
Shaving Sets
Toilet Sets
Books, Gift, Pic
ture and Latest
Fiction, at sea
sonable prices
Bibles, all kinds
Vases
Bric-a-Brac
Hand-painted
China
Briar Pipes
and a thousand and
one other useful and
pleasing gifts for
Big and Little.
Our prices are right
to start with and
there can be no re
duction of them in
justice to the goods
we sell.
L 0.
Thompson
& Co.
1
Wxhtnt:tJn. IX C, Pec. 21. Fol
lowing l th text of the l're.dent
niPMtttfe, dealing with V. S. Treasury
condition!, tmbniltted to con&nsa U-
TO THE SENATF ANl UOl'SK OK
HEPRFSKN'TATIVKS:
The financial condition ol tin Tiov
crnnnt, is nho n at the close of the
laat flal y ar. .'nr. :0, 1911, win
erv Ktt.Khu nry lt onllnnry re
ceipts Into ilm ftm-ial fund, exclud
ing otal rewnuen! Amounted to
9701,:;?2,a74.9. and the diaburae
ments from the gtneral fundi for
current etnenfe and capital outlaw
excluding pomal and Panama Canal
dlituremrnt, tnclndlng the Inter
est on the public debt, amounted to
tfi5,137.107.f. leafing a surplus of
H7.l14.n77.10.
The poets 1 revenue rocnlpts
amounted to ISST.a'I.Ssa 60. whll
the pavmcnta made for the postal
ervlce from the post.nl wcimm
amounted to ?37.fi,70S.4x, which
left a surplus of postal receipt over
dlilM!rtement of Silft.l 1 8 U. the
lirM time in 27 years In wMcli u mr
plua oc"iirred.
The lntt"-tsl-leiiriti debt of the
Fnited States .1n- 1 1 1 . sn-.-vint-ed
to W..V.S.140. The d -ht on
which Interest had cep g d amounted
to I I.R79,S?.0.2fi, and the debt bear
Inr ro Interest, Including greenbacks
national bank note to be redeemed
and fractional currency, amour.tfd to
JS86.7S1.917 42, or a total of Inter
est and nonlnteret bearing debt
amovntlnr to tl.3nl,M.J37.C!.
The nctnal disbursements, exclu
sive of 'hose for the Tanama Canal
and for thj pogtal tr,;vlC' fo the
tVw endlnr June 30, 11 II. were
t.r.!'.7ori.l.ftS. making a decrease
of .1,f.fi7,3,H.10 In yearly expendi
ture In the year 1911 ind"r that cf
1910. For the year endl ig June no,
1912, the estimated receipts, exclu
sive of the postal revenues, are IdiS
ono.non, nle the total estlmnt-. cx
eisl e of those for the Tana na Canal
rrd tb- postal expenditures payable
from te postal revenues, amount to
$r- M 2.799 34. This Is a decrease
In the 1912 estimate from tnat of
the 1911 estlnntes of I l.p34.'!l'i7.22.
Frr the ypr cnlln June 30, 191.1,
the estimated receipts, cxcIiihIc of
t-e pos'al revonius, are $667,000.
ion, while the total eMmat'd appro-
I prlntlons, exclusive of the Panama
jCannl and postal disbursements pn-
able from postnl revenues, will
'amount to $?37.9?0,S0.1.:i.V This is
j a dccve1e In the 1 ? 1 3 estimates from
' thr.t of the 1H2 estlmst-s of J7.921.
I -Y1!. '
; As to the nostiil revenues, the e
! o.'tniion of the bt'Htioss In tl.at d'
prtntert. the normal Increnso In Hi
Post ('fflco rind the pxlormlop of the
Tvice will lncp':e the outlay J
the sii mof $2CO,"3S,461 : but ns tho
d'-oiirtmet't f'-lf-sntalriir' t!ils
oar t' e IVstnins'er (Jcuc-al Is .h
s in-.l that fct vi t tho rcciMpls vi
ut li'ii'f enuril tbe expenditures, an I
probably oood them bv mo:- than
tie s-i'pli's of thi vonr. It I? fill.
ii-id ctultrMiv tbovef ire. In d'M'Ttnln
ine the economy villi w hich the Cov
i TtMvcnt has been r-'n. to exclude t;
transact 'oim of a department Hke thn
Post Office Department, which relics
,trr Its support upon Its Tec.ltts. la
cilculiiMittis' heretcfore niai'e for com
j pnrlKP j Ki ea h ye:ir. It has bei n tho
j proper custom only to include In ths
jftitement the deficit In the Post Of
fice Department which was rld oi.t
j of tho Treasury.
A calculation of the actual increase
In t! expenses of Government arls
iig (rom the increnso In the popula
tion and the gener.il rxp'insion of
coiemmental functions, excep? thosi
of the post effbe. for a number of
years shows a normal Inon-ae of
ibont 4 per cent n year Ily direct
Inst the exert Je ot rreat are to keeu
down the expanses and the esilmntos
ve have sm ceiled n red'.i Ing the
total disbiTHemonts each year
H e Oetlit of the I nileil Mutes.
The credit of this Government was
shown to be better than that of any
other Government b the file of th
Panama Canal 3 per cent bonds.
Thes bonds did not ple their own
er the privilege of nslnf them as
basis for hank-rote circulation, nnr
was there any other prlvllre extend
ed to them which would affeof their
general markt yilue. Their nie,
therefore, measured the ciedlt of the
(tovernment Th nrcr"lm w-i'eh
was refilled upon the bonds made
the actual Interest rate of the trans
action 2.909 per cent.
Ffflrtenry and Fcnivirt.y In the
Treasury Depart ment.
In the Treasury Deprrtn ent the
efficiency and economy work has
t'een kept steadily up. Provision I
mvle f r the elimination of i:.4 posi
tions d trlDtr the coming vear Two
h end red and slxtv-seveti statutory
positions were eliminated dur'.re tb
l-i't year In tne office of the Trensnrv
'n Washington, and 141 positions In
the ea-' 1910, making Bn eltm.natloa
of St? statutory positions since March
. 1109: and this has been done wltV
iet the dlsthnrre of anvbody, be-
-ti'so tne ncrmsl resiitot.s an I
deaths have been equal to ellmln
itlon of the p'.nes, a svsteni of trans
ets hHvlnr t ikon care cf fie person
whose positions vere dropped out
'e work of the department bits in-
rrattcri.
onetntjr ll.-forni.
A matter of first Importance that
vlll come before Congress lor ac
tion at this rerslon is monetary re
lorm. The Conrress has ItsoU ar
ranged an early Introduction of this
prect iirtiMi throuph the report of
Its Mtpetary CommlKslon. This con
mlsslon was appointed to recommend
a solution of the banking and cur
rency prcbleros so long confrontmK
the Nation and to furnish the facta
and data necessary to enable Con
gress to take action. The commis
sion was appointed when an Impres
sive and uritent popi-lar demand for
legislative relief suddenly arose out
of the distressing situation of th
people caused by the deplorable panic
of 1907. The Congress decided that
while It could not give Immediately
the relict required it would provide
a commission to furnUh the mean
for prompt action at a later date.
In order to do its work with thor
oughness and precision this commis
sion has taken some time to make Its
I report The country Is undoubtedly
IhoplnB for na prompt action on the
'report PS the convenience of tlio Con-
vreps can permP. The recovnltion
of the gross lmperf-ctlons and mark
ed Inadequacy of our banking and
(currency system even In our mos.
inlet financial periods Is of long
standing: and later there has matur
ed a reocnitlon of the fat that our
svstem Is resnonslhle for the extra-
(ordinary devastation, waste, and
(business paralysis of our recurring
.periods of panic. Though the mem
bers of the Monetary Commission
; have for a considerable time been
j working In the open, and while large
I numbers of the people have been
.openly working with them, and while
,the press has largely noted and dis
cussed this work ns It has pro"ieded.
o that the report of the commission
i promises to represent n national
i movement, the details of the report
,are still belrg consldred. I can not.
therefore, do much more at this time
than commend the immense Impor
tance of monetary reform, urge
prompt consideration and action
when the commission's report is re
ceived and express my satisfaction
Mbat the plan to be proposed promises
to embrace main fentures that, hay
ing met the approval of a great pre
pontiernpce of the practical and pro
fessioiml opinion of the country, nr
likely to meet eimal approval in f!on
RrcM. It Ih ooodln5ly fortunate that the
vlse and undispmed policy of main
taining unchanged the main features
of our hankln svste'n ror;.env It a
once Impossible to Introduce r cen
tral bank; for a central bank would
certainly have been resisted, and a
plan Into which It could have beeti
Introduced would pro'caMy have beet
defeated, pet as a central bank
r 'villi not be a part of tho on'y plan
i'ihi esyed ir comMo-ed. that trouble-iio-he
n-testlon Is e-lmlnpt" I. And In
rctitous iird novel ns the proposed
X-it'onvl ltferve Vssni latlon anr'a's.
it pimply Is a logical o'turo-vth of
h:t Is best In o'T oros'Mit .vatm
iii d K In fact, the fn!flllr-nt of that
system
1 trust that nit lank of tho conn
ii v onssersln'.' the ro'iulslte ctiTi'ard
ltl be placed upon n fictlnii of per
loot enualltv of opporti nlty. llotb
In ttie field s'rx'ee of the depart
ment. iw, 1.2"i9 pisltlops hae tH-n
eliminated i1ot n to the rret--ent time,
making a total net reVtctlon of aU
Treasury nolticnH to the nen.bor
l,S0. Meantime the efficiency cf
'the National system nrd the ftate
system should bo fulrly rei o-'niied.
teiivlni them eventually to co:ilesce
, if that shall prove to be their tenden-
iv. Hut such evolution can not de-
vel v Impartially If the banks of one
isvj-tem are rlen or nermlttid any
jrnlmntaires of opportunity over those
f the i. titer svstem. And I trial also
that the new legislation will rare
ifullv ami completely protect ind as
j''re t('o Individuality and tb Inde
jnev.detit of each hank, tr the end that
ary tendency there may ever bo to
Wrtro a consolidation of the uotyy
or bankinti !owcrcf tho N'atli u shall
I be defeated.
It w HI alwavs be possible, of court
I to correct any features of the new
'inv which mav In uraetlce prove to be
unwise: so that while this law Is sure
io !o enacted under conditions of tin
sunt knowledse and authority, It al
so will Include, it Is well to remem
ber, the possibility of future amend
ment. With the present prospects of this
'ong-awalted enco-rarlnc us It would
be singularly unfortenatr !f this
monetary question should by any
h-Mce become a nnrtv Issue And I
sincerely hope It will not. The -
(cc'dinn amount of consideration it
jhas received from the people of the
i Nation has been wholly nonpartisan
lard the Censress ret Its nonpartisan
Iseil vpo rlt when the Monet an Com
mission was appointed. In commend
! Ing the question to the favorable con
sideration of Confess, 1 epoiik for,
and In the spirit rf, the ereut nim
! her of lev fel'ow cHlrons who without
anv tbou-ht of pirtv or partisanship
feel wl'h retuatkable earnestness that
tills reform l neiesnrj o the In
terest of nil the pope.
I .MKcxnt Ties In great abundance
and rood values at Saylor & Ken
I dill's
I MISSION
PORTABLES
We received yesterday a large shipment
of MISSION STYLE WOODEN PORTA
BLE READING LAMPS, and now we
have them on display. This is the LAR
GEST ASSORTMENT ever shown in Ara
rillo and at the prices to suit everybody
from five dollars up. Come see them and
take your choice.
We are receiving new styles and designs of Electri
cal Reading Lamps every day. They make the most
acceptable CHRISTMAS GIFT known.
Here Are Some Suggestions for Xmas:
AlUVSTAItl.K LAMPS OiFFKK I'FKCOI. VTOKS
HAlKil It FUHlll 1. A MI'S TOASTKIIS
SF.WI.Mi MACHINE MOTOItS TOASTFIt KTOVFS
1ISC STOVKS CI'ltMNfi IK IIKATF.llS
F.I.KCTKIC Iltt)N8 WATKIt IIKATF.US
F1.ICTR1C Tit A INS ANI MOTOIt-l fX'K PT FI.-lfSHI HiHT
We put everything up in Xmas Boxes. Don't forget that Xmas Tree Festoon
WE SELL THE FAMOUS "SUNBEAM," the original
Mazda Lamp. We deliver and install without ex
tra charge ... Our Wiring and Repair De
partment is at your service. We do all kinds of
Electrical work.
GIVE YOUR WIFE A VICTROLA, CHRISTMAS.
She'll appreciate it, and you'll enjoy it all year.
We have a large stock of New Records. Come in
and hear them. Remember: "Make it an ELEC
TRIC Christmas."
NUNN
ELECTRIC CO.
Nunn Bldg. West 5th St Telephone 168
The Electric Store of the WcsL Open Nighu 'tO Xmai.
1

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