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About Plattsmouth weekly journal. (Plattsmouth, Neb.) 1881-1901 | View Entire Issue (Dec. 12, 1895)
PRESIDENTIAL TALK. -ANNUAL MESSAGE OF PRESI DENT CLEVELAND. rorelgc Affairs Lightly Touched Upon Relation of United States With Other atioa A History of the Treasury Xira-nlty and Kfforts Put Forth to Remedy It -Other Subjects Under Dls--ousaion. The President's Message. Washington, Oec. 3. The following 'Is tin- I 'resident's messag-e: To IrF. CoKfl KE8S OT THE UNITED STATES: Tii tre-nt assemblage of the legislative tirxnch t1-! our irovernmeat occur at a time r!-a the i&tesvsts of our people and the needs f lit country give fpc-cial prominen to the .tmiition cf our foreign relation and the exi gencies i.f our national finance. Trw reports af iIie Tf-ral administrative departments of th .mvernnien fully and plainly exhibit what ta.-;o o mplishHl within the scope of their T!)ftite dt-tios and present such return mend- j for the betterment of our country's con- j (hhh a i atriotic and inte ligent labor and j jlt-ervaiK-n mggest. j H th-rvfr d em my executive duty ade- j an.ifp'iv i-rformc l at this time by presenting: v tin ' iu?r-s the important phases of our utu.;ion & re atel to oar intercourse with ; utM-ra nations, and a statement of the fin an- . nl i-rtiiloai which confront us, omitting, ; icrj- a thf y are related to these topics, any re f-v etc?-1 departm -atal operations. j 1 onnieMly invite, howjver, not only the ; sj.r-frl ct r.siieration, but the severely critical ; scrutiny Hie I onurrss and my f-llow coun- ; trjmf n to !. reports concerning these depart- ( -::tal pe. atioa. If justly and fairly exam tc I thfjr furni-h proof of assiduous and truT -takiLc care for the public welfare. 1 I the- recommendations th'-y contain upon : tl.-- renctfrd attention of thoso charged with ! Uir du'y 1 legislation, because I believe their J.ptiri vioul 1 promote the people's good. j Mifionary Riots in China, ; The cIl,w f ths momentous strustgl ' between ; riiir. :.cd Japan, while lelievinjr the diplo-w-tuc agents of tbis government from the deli- ; v-e duly they sa le took at request of both .mitr.tT f f rt-nderirifr sn- h t-ervice tosubjeits f r-iX'u r b liferent within the territory limits ef tiie i.ther as our neutral position jpermitted, aTflop-d a domestic condition in the Chinese j u.p.:f which has canned much anxiety and tail J fr p-ompt iind careful attention, j Urher aa a result of a weak control b. the cen- 1 Ual gvercraent over tha provincial adminis- ; tntiuas, fo!l'wirnr a diminution of traditional foror nr.eutal authority und?r the stress of an r.fa lmir. national disaster, or a manifesta tion vx n xod o;i--ortnuity of the aversion of tlw t hines-e iopulation to all foreign ways and anJertakiiig?, there hare occurred in widely separated prt winces of China serious outbreaks f the old fa. aiic 1 spirit agam-t foreigners, which. UL--.io.-kei by the local antho ities, if oot a tufclly coanived at by them, have culmin- . tl in mob attacks on foreign missionary ( tauous. causing ma:u destruction of pro;.er- ty, end attended with p-:sonal injuries a well ; lsif life. Although but one Am?iican nti n was reporte I to have been actually ' wouu led and although the destruction of . in-iprivmtjr hare fallen more heavily upon th- u i-ionarie of other natioaali i -s than our . oa. it ;laiil behooved this government o U; tlie t prompr and decided action to urd paiu-t similar or i erhaps more dread ful c.-ilamit ie. ) lis demands of the United States and otiier ' j..or for the decredation and punishment of tij-a reT-p. -riiWa officials of the respective cities aud irovin?es who by neglect or otherwise had r riuiit-d p-risiags and for the adoption of iirn icciim by the Emperor's government V r the jTtection of the life and property of for .ttuers. vrere followed by the disgrace and 3 l jir.J of certain irovincial officials found derelict in duty, and tba punishment by death of a euilIxt of those found iruilty of actual partic:; atii-n in the outrages. This govern oi -nt a'.. ios.sted that a special American souinis-ioa should vi-sit the provin.-e where tlf lirst :iturbancea occurred for the purpo.-e f iiivfttigatiou. This latter commission, (mixl :tit-r much opposition, has gone over Ln i f.om lien Tein acco mpanied by a suitable I hin'-e- t-M ort, aud by its demonstration of the c-.i-iiDt-t and ability of our government toprj- t .ts citizens, will act, it is believed, as a most hit'.xi 'i.t:al ttrrent i t eny similar outbreaks. The Wilier Case, ! Tile' curtomiry cordial relations betwet-n this ' Muntry and France have ben undisturbed, wi'h tite xception that a full explanation of tie ir:itn( ct of John L, Waller by the expe 4ituvnry m ilitary authorities of France still MTain- to tx- given. Mr. Waller, formerly Utiii.i Stiitfi: ccnsv.l to Tamatave, remained in aJadutrrc tftfr his term of ofiice expired r.1 wa apparently eucces-sful in procuring Uu.-iaes'!' concessions from the llovas, of greater cr Irs vali. Aft-r tie? occupation of Tama Uvt an-1 th d'"claratin of martial law by the Fr ':!. Lr- v as arrrsted upon various charges, - aio;? tli' that of communicating military i:.!iin..a;4'0 to the enemy of France, was tried sdI r .evicted by a military tribunal and -t.t i.ct! to twenty years imprisonment. F'ol l m; : tie course justified by abundant prece- d-cts, th; government demanded from that, - .f Frarc?1 the record of the proceedings of the S'reurh tribunal, vhich resulted in Mr. Wal lT"r c i-dcmaatioii. This request has ' If" n c milied with to the extent -of euppljing a cojiy of the beneficial rrd frt rn which appear the constitution and rrc-ni2atitn of the Court, the charges as for mulatl cr.d th? general course and result of th trial and by wbicn it was shown that tha avec-d wa triel in op. n court and was de is.!e 1 b; counl. Hut the evidence adduced in tup'wirt of the chaiges. which was not re ceived by the French minister of foieign affairs iiitl the first w.jk iu October, has thus far I'-eu w.tLUe d. the French governmen taking -the ground that its production in response to -o r u 'taanvl would establish a bad precedent. The eCorts of our ambassador to procure it, Ijowwrcr, though impeded by reeeut changes in ti French ministry have not boen relaxed and it is confidently cxpeeted that some satisfac tory so.ution of the matter wDl shortly be racLd. Meanwhile it appears that Mr. al ler' cornement has every allev iation which tl;e state of his h?alth and all the other circuui ataxces of the case demand or permit. Trade Complications With Germany. Our relation with the states of th Herman ap.ie are in some aspects typical of a condi tion of things dlsewh re found in a country whose production and trade are similar to our jvra- The close rivalry of competing indas trij: the influence of th3 delusive doctrine that the int -in I deve.opmant of a nation is tyrora ted and it weal: h increas i ! by a policy -wh.cSi. in liu lertalcin : to reserve its own mar iietjt for the exel wio use of its wn producers, & ssarily oIstru--t their al js ia foreign market- aud i ievents frea access to markets of the wo:;j; me desire t retain trade in time-worn ruts, r' gardl'S of the inexorable law, of new ti-eda:id charvgel conditions of demand and a';;-;' v. and our own hatting tardiness in invit- ,in'z a ire exchange of commodities aud by this 'ru iDi imperdinx our rooting in the external uiaii.e:s naturally open tons, have created a ariatiun somewhat iujuriou to Amei ican ex--pxirt interest, not only in Oermanv, where they are p-rLaps no.t coti eable, but in adjacent . o5' ntries ... llio exports affected arc largely -American -catth and other food prcxlucta, the reason . assigned for unfavorable discrimination being 'that their consumption is deleterious to the eufclic health. Thi is ail the more irritating ia view of the fact that no European State is -aa J a loos of the excellence and whole ome ntB of it exported food supplies aa the United states- nor so easily able, on account or inher iat soundnea. to guarantor thoce quolirus. w ., thM difficulties confined to ou- foxl cwrnct desumed f r cxpor tat ion. Our great mmti&nie'. for cinm -le having -built up a vast business abroad and invested a I srga ebare of their gains in foreign cj.nr.tnes in compliance with the local law, and regula tions then exisung. now find te. selves within -a narrowing eircle of onerous f nd unforeseen Editions, end are confront by the necessity f retiremer-t from a field hese raade unprofit Vbie.if indeei they are not wmm.rjl, ex l2d. aa some of them bt. lately been in to bJ gotten h.i - nati nal trade can not be one-id'3 l Its cur rent are alternating and its movements should be honestly reciprocal Without thi it almost aecearily degenerates ii; to a devi e to gaiu advantage or a contrivance to tecure :eaets with only the eomblam.e of a teturn. In our dealings with other nations we ought to be open-handed and scrupulously fair. T'ais should be our policy as a producing n i tion, and it plainly becomes us as a poop:e wh love generosity and the moral atiects of na tional good faith and reciprocal forbearance. These considerations should not. however, con strain us to submit to unfair d'scrimination nor to silen tl y acqn iesce in v exa tio a s b in draucea totheen;o,'inent of ur i hare of the legitimate advantages of proper trade relations. . If ati examination of the rituation suggests such me.isures oa our part as would involve r stric tions similar to thoe from which we suffer, the way to such a ocurse is easy ; it should, how ever, by no mean be lightl entered upon, since the necesait ' for the inauguration olsuHh a policy would be regretted by the best penti ment of our people, aad becauso it naturally and logically might lead to onsepuencea of the gravest character. Tha Behring Sea Matter. Our relations with Great B itaia. always in timate and important, hare demanded, during tha p ist year, even a greater share of consider ation than is usual. Several vexatious ques tions were left undetermined by the decision of the Behriao- sea arbitration tribunal. The ap plication of the principles laid down by the august body has not been followed by the re sults they were intanded to accomplish, either b'causo the principles th? nisei res lacked in breadth aud definiteness or because their exe cution has been more or less imperiect The understanding by which t le Un.tsd States was to pay and Great i ritain to receive a lump sum of $ia,00 in ful. settlement of all British claim for damag -s aristug from our seizure of Britisii sealing ves eis unauthorized under the award of the I'aris tribunal of arbitration was not oonflrme I by the last Congress, which do clin?d to make the necmsarv appropriat on I am still of the opinion that this airang;ment was a judicious and advantageous ono for the government, and I earnestly recomm?n i that it ba again considered and sanctioned. If, however this does not meet with the favor of Congress, it certainly will hardly dissent from the proposition that the government u bound to every consideration of honor and good faith to provide for the speedy adjustment of these claims by arbitration as the only other alterna tive A treaty of arbitration has, therefore, been agreed upon and will be immediately laid before the Senati so that, in one of the modes suggestel, a final settlement may be reached The Venezuela Issue. It being appareut that the boundary dispute between Great Britain and the Republic of Venezuela, concerning tha limits of British Guinea, was approaching an acuta stage, a dennite statement of the interest and polioy of the United States as regards the controversy seemed to be required both on its own account and in view of ;ts relations with the friendly powers directly o ncerned. In July lait, there foie, a dispatch was addressed to our ambassa dor at London for communication to the British government in which the attitude of 'fle United Sta es was fully and distinctly set forth. Tha general conclusions there reached ml formu lated are in substance that the traditional and established policy of this government is firmly opposed to a forcible increase by any European power of it territorial possessions on thi conti nent; that this policy is as well founded in principle as it Is strongly supported by nu merous precedents; that as a consequence the United Stutoi is bound to protest against the en argemeut of the araa of British Guinea , n derogation of the rights and against the will of Venezuela; that, considering the disparity in strength of Great Britain and Venezuela, the territorial dispute between them can be easily settled only by friendly and impartial arbitra tion and that the ieort to such arbitration should include thi whole controversy and is not sati-tied if one of the powers concerned is permitted to draw an arbitrary line through the territory in debate and to declare that it will submit to arbitration only the portion lying on one side of it. In view of these conclusions the dispatch iu question called up.n the British government for a de Unite answer to the question whether it would or would not submit the terri torial controversy between itself and Venezuela in its entirety to impartial arbitration. The answer of tha British government has not yet been receive i but is expected shortly when further communication on the subject will prob b' y be made to congress. The Hawaiian Matter. Early in January last an uprising against the government of Hawaiia wa promptly sup pressed. Martial law was forthwith pro claimed and numerous arrests were made of persons suspected of being in sympathy with the Royalist party. Among these were several citizeus of the United States, who were either convicted by a military court and sentenced to death, imprisonment or fine, or were deported without trial. The United States, while deny ing protection to those who had taken the Ha waiian oath of allegiance, insisted that martial law, though altering the forma of justice, could not supercede justice itself, and demanded a stay of execution until the proceedings had been submitted to this government, and knowl edge obtained therefrom that our citizens had received fair trial. The death sentences were subsequently commuted or were remitted on condition of leaving the islands. The cases ol certain Americans arrested and expelled by ar- ; bitrary order, without formal charge or trial, have bad attention, aud in some instances have been found to justify remonstrance and a claim ' for indemnity, which Hawaii a has thus far not conceded. Mr. Thurston, the Hawaiian Minis- . ter, having furnished this government abund ant reason for asking that he be recalled, that course was pursued and his successor has lately been received. Lynching of Italians In Colorado. The deplorable lynching of t-everal Italian laborers in Colorado was natur.Uly followed by international representation and I am happy to say that the bist efforts of the State in which thsu outrages occurred have been put forth to di -cover and punish the authors of this atrocious crim . The dependant families ot some of the unfortunate victims invite by theii deplorable condition gracious provision fot their needs. Thee manifestations against helpless aliens may be traced through succes sive stages of th vicious padroni system whti unchecked by our immigration and contract labor statutes, controls thise workers from the m ment of landing on our shore, and farms them out in distant and often rudo regions, where their cheapening competion in the fields of bread winning toil brings them iu collision with other labor into, ets. While welcoming, as we should, those who seek our shores ta m"rgo thenis Ives in ur body politics and win per onal competence by honest effort, we can not regard such assemblages as distinctively alien laborer, hired out in the mass to the profit of .tiien speculators and shipped hithet and thither as the pri spe t of giin may dic tate, as ethn wis than repugnant to the r ght cf our civilization deterrent to individual ad vancement and hindrances to the buiiding up of stable com. uuntti resting upon the whole some ambitions of the citizen and constituting the prime facior in the prosperity and progress of our nation If legislation can reach this growing evil it certainly should be attempted. Congratulations for Japan. Japan has furnished fcbuudant ' evidence ot hir vast gain in every trait and characteristic that constitutes a nation's greatness. We have reason for congratulation in the fact that the government of the United States, by the ex change of liberal treaty stipulations with the new Japan, was the first to recognize her won derful advancement and to extend to her the consi leration and confidence due to her na. ticiial enlightenment and progressive char acter. 6a moan Arrangement Unsatisfactory. In my last two annual messages J called the attention of the Congress to the position we occupied as one of th3 parties to a treaty or agreement by which we became fointly bound with England and Germany to so interfere with the government and control of Samoa as in effect to assume the management of its affaire. On the 9th day of May, 169 t 1 transmitted to the senate a special message with accompany ing documents giving information on the sub ject and emphasizing th opinion I have at all times entertained that our situation on thi matter was inconsistent- with the mission and traditions of our government in violation of the principles we profess aud in all its phases mischievous and vexatious. I again press this subject npoathe attention of Congress and ask for mch legislative action or expression as will lead the way to our relief from obligations both irksome and unnatural. The Cuban Rebellion. Cuba is again gravely disturbed, an insurrec tion in somo respect more active than the last proceeding revolt, which continued from 1SC8 to 1878. novr exist in a large park of the East ern interior of the island, menacing even some population on the coast. Besides dangering the commercial exchanges of th island, of which our country takes the predominant share, this flagrant condition of hostilities by a rousing seatimenta 1 sympathy and inciting ad venturous support among our people, has en tailed earnest effort on the part of this govern ment to enforce obedience to onr neutrality laws and to prevent the territory of the Unite 1 States from bo ing abused at a vantage ground ?rom which to aid those in arm against Span ish sovereignty Whatever may be the tradi tional sympathy of our countrymen, a Indi viduals with people who seem to be struggling for larger autonomy and freater freedom deepened as such sympathy naturally most bo in behalf of our neighbor. Yet the plain duty of their government is to observe in good faith the recognized obligations of international re lationship. The performance of this duty should not be made more difficult by a disre gard on part of our ci tizens f the obi igation growing out of their allegiance to their coun try which should restrain them from violating a individual th neutrality which the nation of whi;h they are members is bound to observe ia its relations to friendly sovereign State. Though neither the warmth of onr people's ym pa thy with the Cuban insurgents nor onr loss and material dimago consequent upon the futile endeavor thus far made to restore peace and order, nor any shock our humane sensibili ties may hav receive 1 from the cruelties . which appear to especially characterize thi sanguinary and fiercely conducted war, have in the least shaken the determination of the gov ernment to honestly fulfill every international obligation: yet, it is to be earnestly hoped, on very grounds, that the devastation of armed conflict may sp edily be stayed and order and quiet restored to the distracted island, bring ing in their, train the actibility and thrift of peaceful pursuits. The Turkish Trouble. Occurrences in Turkey have continued to ex site concern. The reported massacres of Chris tian s in Armenia and the development there, and in other districts, of the spirit of fanatio host ility to Christian influences, naturally ex lited apprehension for the safety of the devoted men and women who, as dependent of the for ign missionary societies in the United States, and reside in Turkey under the guarantee of taw and us.? and in thi legitimatj perfona ttice of their educational and religious mission. No efforts have been spared in their behalf and their protection in person and property has been earnestly and vigorously enforced by vrery means within our power. I regret, how ever, that au attempt on our part to obtain better information concerning the true condi tion of affairs in the disturbed quarter of the Ottoman empire by sending - the United States consul at Siuas to make investigation nd report, was thwarted by the objection of the Turkish government. ThU movement on 9ur part was in no sense meant as a gratuitous ntanglement of the United States in the so tailed Eastern question, nor as an officious in- terferense with the right an 1 duty which be long by treaty to certain great European powers, calling for their intervention in polit ical mattf rs affecting t ho good government and religious freedom ot the' non-Mussulman tub iectsof the Sultan, but it aros solely from oar desire to have an accurate knowledge of the tonditltions in our efforts to care for those en titled to our protectton. The presence of our naval vessel which are ow in the vicinity of the disturbed localities afford opportunities to acquire a measure of familiarity with the condition of affairs and will enable us to take suitable steps for the protection of any interests of onr countrymen within reach of onr ships that might be found Imperilled. The Ottoman government has lately issued an imperial Irade exempting for iver from taxation an Amerioan college for rirls at Scutari. Repeated assurances have also been obtained by our envoy at Constan tinople that similar institutions maintained nd administered by our countrymen shall be secured in the enjoyment of all rights and that 9iir citizens throughout the empire shall be orotected. On the demand of our minister orders have been issued by the Sultan that Turkish soldiers lhall guard and es:ortto the coast American refugees and those orders hav been carried out. aud our latest intelligence gives assuranse of the present personal safety of onr citizens and missionaries. Though thus f ar no live of American citizens have been sacrificed, there tan be no doubt that serious loss and destruc tion of mission property have re suite 1 from riotous conflicts and outrageous attacks. By treaty several of the most powerful European powers have secure I a right and as vumed a duty not only in behalf of their own citizens and in furtherance of their owninter 9ta. but as agent of the Christian world. Their right is to enforce such conduct of the rurkiith government as will restrain fanatical brutality, and in fact, their duty i to interfere to as to insure against such dreadful occur rences in Turkey as lately shocked civilization. The powers declare this right and this duty to be theirs alone, and it is earnestly hoped that Elective action on their part will not be de layed. OUR FINANCES. A Subject of the the Greatest f mportaoo to American People. - As we turn from a review of our foreign rela- tiona to the contemplation of our national financial situation wo are immediately aware that we approach a subject of domestic con :orn. more important than any other that can ngage our attention, and one at present in ruch a perplexing and delicate predicament as to require prompt and wise treatment. We may well be encouraged to earns st effort in itm direction when we recall the steps already taken toward improving onr economio nd financid situation, and when to appreciate how well tha way has been prepared for further progress by an aroused and intelligent popular interest in these subjects. By command of th people, a customs revenue system, designed for the protection and benofit of favored classes at the expen e of the great majority of our coun trymen and which, whi e inefficiont for the pur pose of revenue, curtail -d our trade relations vnd impeded our r ntr ne to the markets of tho worlJ, has om supercede 1 by a tariff policy w.iirh, in principle, is based upon a denial of the rizht of tho government to obstruct the avenues of onr people's cheap living or lessen their com fort and contentment, fo the sake of according tpocial advantages to favorites, and which, while encouraging our intercouree and trade with other nations, recognize the fact that American self-reliance, thrift aud entennity, (tan build up our country's industries and de velop its resources more surely than enervating paternalism. The compulsory purchasi and -oinage of silver b the government unchecked and unregulated by busiress conditions and heedless of our currency needs, which for more than fifteen years dilute I our circulating med ium, undermined conti dense abroad in our finan cial ability andatlast culminated in distress and panic at home has been recently stopped by the repeal of the laws which forcod this reckless tcbemo upon the country. The things thus ac complished notwithstanding their extreme Im portance and beneficient effects, fell far short of curing the monetary evils from which we suf fer as a result of long indulgence in ill advised financial expedients. The currency denom inated United States notes and commonly known as green-backs was issued in large vol ume;! during the late civil war and intended originally to meet the emergencies of that period. It will be seen by a reference to the debates in congress at the t mo laws were passed authorizing the issue of these note, that their advocates declared they were in tended for only temporay use and to meet th emergency of war. la almost, if aot all, the lawn relating to them, some provision was made contemplating their voluntary or com pulsory retirement. A large quantity of them, however, were kept on foot and mingled with tho currency of the country, so that at the cloot of the year 1874 they amounted to $381, 999,078. Immediately aftir that date and in January, 1975, a law was passed providing for the resumotion of specie payment, by which the S-r:ry , of the Treasnry was required, whenever additional ciron- latioav was lud to Natioaa) co retire united States notes in equal amount to 80 per cent of such additional National bank circulation until such notes were reduced to $300,000,000. This law further provides that on and after the last day of January. 1879, the United States notes then outstanding, should be redeemed in coin, and in order to provide and prepare for such redemption the secretary of the treasury was authorized not only to- use any surplus revenues of the government, but to issue bonds of the United States and dispose of them for coin and to use the proceeds for the purposes contemplated by the statute. In May, 1478, and before the date thus ap pointed for the redemption an 1 retirement of the notes, another statute was passed for tiidding thlr farther cancellation and retire ment. Some of them had, however, been pre viously redeemed and cancelled upon the issue of additional national bank circulation, as per mitted by the law of 1875. so that the amount outstanding at the time of the passage of tha net forbidding their farther retirement was SSM31.018. The law of 1878 did not atop at dis tinct prohibition but contained in addition tho following provision, "And when any of said note may be redeemed or be received into the treasury under any law, from any source whatever, and hall belong to the United States, theyi hall not be rs tired, cancelled, or destroyed, but they shall be re-issued and paid out again and kept in circulation. " This was th condition of af fair an th 1st day of January, lS7tf, which had been fixed upon four years before as the date for entering upon the redemption and retire ment of ail these notes, and for which such abundant means had been provided The gov ernment was put in the anomolou situation of owing to thi holders of its notes, debts payable in gold on demand which could neither be re tired by receiving such notos in discharge of obligations due the government, not cancelled by actual payment in gold, it was forced to re deem without redemption and to pay without acquittance. There has been issued and sold $04,509,000 of the bonds author zed by the resumption act of 1575, the proceeds of which, together with other gold in the treasury, create 1 a gold fund deemed sufficient to meet the demands which might be made upon it for the redemption of the out standing United State notes. This fund, to gether with sue i other gold as might be from time tot im in tha treasury available for the sa mo purpose, has been since railed our gold reserve and $100 0X),0ih) has been regarded as an adequato amount t accomplish its object. This fund amounted on the 1st day of January 179, to $l4,l'.K,13j and though thereafter con stantly fluctuating, it did not fall be'ow that sum in July, 1892. In April, 1S93, for tho first time since its establishment this reserve amounted to less than 8lJ0,'J00,00O, containing at that date only ?j7,011,33). The Bond Contract The message reviews at great length the low ering of the g ld re4erve, the shipment of gold, the issuing of bonds, the entering into the bond contract with capitalists, and his messages to Congress for relief. Continuing, the President says: The Congress having declined to grant the necessary authority to secure this saving the contract unmodified was carried out, resulting in a gold reservo amounting to $107,17 1,k on the 8th day of July, 159 . The performance of this contract not only restored the reserve but checked for a time the withdrawal of gold and brought on a period of restored confidence and Bach peace and quiet in business circles as were ot the greatest possible value to every in terest that affects oar people. I have never had the slightest misgiving concerning the wisdom or propriety of this arrangement, and am quit willing to answer for my- full share of responsi- ' bility for its promotion. I believe it averted a disaster, the imminence of which is fortunately not at this time gener ally under tood by our people. Though the contract mentioned stayed for a time the tide of gold withdrawal, it good result could not be permanent. Recent withdrawals have re duced the reserve from $107,57 1,240 on the th day of July. 1885, to $79,333,9 & How long it will remain large enough to render its increase unnecessary is only matter of conjecture, though quite large withdrawals for shipment in the immediate future are predicted in well informed quarter About $16,000,000 has been withdrawn during the month of November. The foregoing statement of events and condi tions develop the fact that after increasing our interest bearing bonded indebtedness more than $195,000,000 to save our gold reserve, w are nearly where we started, having now ia mch reserve $79,333,9 0. as against $65,438,577, in February 1894, when the first bonds were i$ued. Though the amount of gold drawn from th treasury appears to be very large, as gathered from the faets and figures herein present it j actually was much larger, considerable sums having been acquired by the treasury within the several periods stated without the issue of bonds. On the ?8th of January, 1993, it was reported by the secretary of the treasury that more than i $172,000,000 of gold had been withdrawn foi hoarding or shipment during the year pro ceeding. He now reports that from January 1, 1879, to July 14, 1890, a period of more than 10 years, only a little over $28,000,000 was with drawn and that between July 11, 190. the date ot the passage ot the law for an increased onr chase of silver, and the first day of December, 189, or within less than five and a half years, there was withdrawn nearly $375,000,000, making ' .e total of more than $403,000,000 drawn from the treasury in gold since January 1st.. 1879, the date fixed in 1875 for the retire ment of the United States notes. N early $4X7,00 J, 000 of the gold thus withdrawn have been aid out on these United States notes, and yet every one of the $4S,0OJ,00O is till uncancelled and ready to do service in fu ture gold depletions. More than $7o,00 ,0X) in gold has since thsir oreation in 18.0 been paid out from the treasury upon the notes given on the purchase of tilver by the government; and yet the whole, amounting to $15,OOJ,000, oxcept a little more than 16,0J,000 which have been retired by exchanges for silver at the re quest of the holders, remain outstanding and prepared to join their older and more ex perienced allies in future raids upon tho treas ury's gold re -erve. On July 1. 189i, mora than a year and a half before tho first bonds were issued to replenish the gold reserve, there was a net balance in the treasury exclusive of such reserve of less than $13,000,000, but the gold reserve amounted to more than $11 ,000,000, which wa the quieting feature of the situation. It was when the stock of gold began rapidly to fall that fright supervened an d our securities held abroad were returned for sale and debts owed abroad were pressed for payment. In the mean time extensive shipment of gold and other un: favorable indications oaused restlessness and fright among our people at home. Tho act of July 14, 18 JO, in a still bolder effort increased tha amount of t ilver the Government was compelled to purchase, and forced it to become the buyer annually of ' OJO,000 ounces, or practically the entire pro duct ot our mines. Under both laws silver rapidly and steadily declined in value. The prophecy and the expressed hope and ex petation of those in the congress who led in the passage of the last mentioned aot that it would re-establish and maintain the former parity between the two metals are still fresh in onr memory. n Retirement of Treasury Notes. In other words, the government has paid In gold more than nine-tenths of it United States notes and still owes them all It has paid in goll about one-half of its notes given for ilver purchases without extinguishing by such payment one dollar of these notes. And added to all this we are . reminded that to carry on ti astonishing financid system the govern ment has incurred a bonded Indebtedness of $95,500,000 in establishing a gold reserve and of 16X315,400 in effort to maintain it, that an an nual interest charge of such bonded In debtedness is more than $11,000,000, that a continuance in our present course may result In further bond issues, and that we have suffered or are threatened with all thi for th sake of supplying gold for foreign shipment or facilitating its hoarding at home, situation is exhibited which certainly ought to arrest attention and provoke immedi ate legislative relief I am convinced the only thorough and practicable remedy for our trou bles is found in the retirement and cancellation vf our United States notes, commonly called gieenback and the outstanding treasury not Issued by the government in , payment of silver porches dr th act of iSgO. I believe this o ould be quite readily accom plished by th exchange of these note for U. S. bonds of small as well as large denominations lew rate of interest. They should be long term bonds, thus increasing their desir ability as investments and becauso their pay ment eould be well postponed to a period far removed from present financial burdens and perplexities when with insreased prosperity nd resources they would be more easily met, To further insure the cancellation of these notes and also provile a way by which gold maybe added to our currency in lieu of thorn, feature in the plan should be an authority given to the Secretary of t ie Treasu y to dispose of the bonds abroad for gold if necessary, to complete the contemplated re demption and cancellation permitting him use of the proceeds of such bonds to take up and cancel any of the notes that may be in the treasury or that may be received by the gov ernment on any account. 'I he increase of our bonded debt involved ia this plan would be mply com pens at 3d by renewed activity and en terprise in all business circles, the restored lonfldence at home, the reinstated faith in our monetary strength abroad, and the stimulation of every interest and industry that would follow the cancellation of the Cold demand obligitions now afflicting us. In any event the bonds proposed would stand (or the extinguishment of a troublesome in iebtedness, while in the path we now follow there lurks the menace of unending bonds with ur indebtedness still undischarged and aggra vated in every feature. ' The obligation neces tary to find this indebtedness would not equal In amount those from whi? h we have been re lieved since 1884 by anticipation and payment beyond the requirements of the sink ing fund ut of our surplus revenues. The currency withdrawn by the retirement of the United States notes and treasury notej tmounting to probably less than $6,0'J0,000 night be supplied by such gold as would be ssed on their retirement or by an increase in 'xregulation of our National banks. Though the aggregate capital of these now in existence tmouuta to mure than $6 "6.000,000, their out standing circulation based on bond sesurity tmounts to only about f KtO.000,000. They are tutborized to issue notes amounting to ninety er cent of the bonds deposited to secure their irculation, but in no event beyond the amount f tho ir capital stock they are obliged to pay one peroent tax on the cirou ation they issue. I think they ought to be allowed to issue cir culation cjual to tho par value of the bonds sheydepo-it to secure it, and that the tax on '.heir circulation should le reduced to one fourth of one rep cent, which would undoubt Klly meet all the exienses tho government would incur on their account. In addition iiey should be allowed to substitute or deposit xi lieu of tho bonds now required as security 'or their circulation thoe which would be is med for the purpose of retlting the United States notes and treasury notes. The banks llroady existing, if they desired to avail them selves w of the provisions of law thus modified could issue circulation 'a addition to that already outstanding, tmounting to $473,001. 000. which would nearly rquit equal tho currency proposed to be sancelled. At any rat, I thoul i confidently ex oect to see th) existing national banks or others to be organized avail themselves of the oroposed encouragements to issue circulation ind promptly fill any vacuum and supply every lurrency neo d. It has always seemed to me ,hat the provisions of law regarding the cap ital of national banks wh ch operate as a lim 'tation to their location fails to mace proper iompensation for the suppres'ion of state oanks, whLh came near to the p pie in all sec tions of the country and readily furnished hem with banking accommodations and 'acilities. Whatever is attempted should be entered ipon fully appreciating the fact that by care less, easy descent, we have reached a dangerous iepth and that our ascent will not be ac jomplished without laborious toil and struggle. We shall be wise if we realize that we are inancially ill and that our restoration to lealth may require heroic treatment. Inasmuch as tho withdrawal of our gold has -esultei largely from fright, there is nothing ipparent that will prevent its continuance or recurrence, with its natural 'consequences, ex cept inch a change in our financial m thod as will reassure the frtghtened and make the de lire for gold less in ten -e It is not clear how in increase in revenue, unless it be in gold and tatisfactory to thosa whose only anxiety is to rain gold from the governments store. It can tot, therefore, be safe to rely upon increased revenues as a cure for our present iron Dies. It is possible that the suggestion of ncreased revenue as a remedy for the difficul ties we are considering may have originated in in intimation or distinct allegation that tho oonds which have been usuod ostensibly to repl nish our gold reserve were really issued to supply insufficient revenue. X othing can be further from the truth. Bonds were issued to obtain gold for tho maintenance ot our natioual redit. Free Silver. While I have endeavored to make a plain itatement of the disordered condition of our currency and the present dangers menacing our orosperity and to suggest a way which eais to a safer financial system C have constantly had in mind the fact that nany of my countrymen, whose sincerity I do aot doubt, inshst that the cure for t.io ills now threatening us miybefouadin the single and limple lemeily of the free coinage --f silver. They contend that our miuts shall be at once tfir wn open to t ie free and unlimited and udepe dont coinuge of both gold and silver dollars of full legal tender quality, regardless of the action of any other government, and in "ull view of the fact that the ratio between .iie metals which they suggest calls for on lundred cents worth of g Id in the gold dollar it the present standard and only fifty cent in ntrinsic worth of silver m the silvor dollar. in the present sta ;e of our difficulty it is not ay to understand bow the amount of vur rev enue receipts affects it. The important ques ;ion is not the quantity of money received in wvenue payments, but the kind of money we maintain and our ability to continue in sound financial condition. We are considering the -love. nment holding of gold as related to the touudness of our money and as affecting our na tional credit and monetary strength. If our gold re.-erve had never been impaired; if no bonds lad ever boon issue 1 to replenish if there had been no fear and timidity concerning our abil- 1 ty to continue gold payment; if any part ; f our revenues were now paid in gold, 1 ind if we could look to our gold receipts as a means of maintaining a safe reserve the j amount of our revenu s would be an influential i factor in the problem But unfortunately all the circumstances that might lend weight to ! this consideration are entirely lacking. In our oresent prodicament no gold is received by the j rovernment in payment of revenue charges J tor would there be if the revenues were in- creased. The receipts of the treasury when not n silver certificates, constat of United States notes and treasury notes, issued for silver purchases. These forms of money are nly useful to the government in paying its current ordinary expense aud its quantity ui government possession do.'S uj? " ' contribute toward giving us that kind of safe Snancial standing or condition which is built on go d alone. It is said that these aotes if held by the government can be used to obtain gold for our resorve. The answer is iasy The people draw gold from tho treasury on demand upon Unite 1 States notes aad treas ory notes, but the proposition that the treasury can on demand draw gold from tho people upon them would be regarded in these days with wonder and amazement And even if this could be done, there is nothing t prevent thoo thus parting with thir gold from regain ing it the next day or the next hour by the presentation of tho notes they received in ex change for it. The pecrerarv of the treasury might use such notes taken from a surplus loveuuo to buy gold in the market. Of course, he could not do this without paying a premium. Private hold ers of gold, unlike the government having no parity to maintain, would not be restrained from making the best bargain possible when they furnished gold to the treasary; but the moment the secretary of the treasury bought gold on any terms above par he would estab lish a general and universal premium upon it, thus breaking down the parity between gold ant silver which the government is plbged to maintain, and opening the way to new and serious complications. Ia the meantime tho premium would not re main stationary and the absurd spectacle might be presented of a dealer selling gold to the Government and with United States note or treasury notes in his hand imraodiately clam oring for Its return and a re ale at a higher premium. It may be claimed that a large rev enne and reduced receipts might favorably af feet the situation tinder dissuasion by affording an opportunity affecting these net te treasury when received, and thus PTenUng Ssir presentation 'or gold. Such retention to be useful ought to be at least measurably per manent, and this is precisely what is prohib ited so far as United States notes are con cerned b law of J878, forbidding their rej tlrement That the statute in so many words provides that these note when men-- I uto the treasury and belonging to the Unite., states shall be "Paid out again and kept m circula tion." It will moreover be readily seen that the government could not refnso to pay out United States notes and treasury notes in cur rent transactions when demanded, and insist on paying out silver alone and still maintain the parity between that metal and the cur rency representing gold. Besides the aocnmu lation in the-treasury of currency of any kind exacted from the people through taxation is Justly regarded a an evil and it cannot pro ceed far without vigorous protest sgainst sa unjustifiable retention of money. Were there infinitely stronger reasons than can be adduced for hoping that such notion would feure for us a bimetallic currency mov ing on lines of psrity an experiment so novel and hazardous a that proposed might well stagger those who believe that stability is an imperative condition of sound money. No gov ernment, no bum i n contrivance or act of legis lation huS ever been abls to hold the two metal together in free coinage at a ratio appreciably different from that which is established in th markets of tho world. In the light of these experiences, which ac cord with the experiences of other nations, there is certainly no secure ground for the be lief that an act of Congress could now bridge an eoualitv of 50 per cent between gold and sil ver at onr present ratio, nor is there the least possibility that our country, which has less than one seventh of the silver money in the world, could by its action raise not only our own, but all silver, to its lost ratio with gold. Our attempt to accomplish this by the free coinage of silver at a ratio differing from the actual relative value would be the signal for complete departure of gold from our circula tion, and the collapse of our entire credit sys tem. ! Our country's indebtedness whether owing by the government or existing between individuals, has been contractad with reference to our pes- ent standard To decree by act of Congress , that these debts shall be payable in less valua ble dollars than those within the contemplated : and intention of the parties when contracted, ' would operate to transfer bv the fiat law and ! without compensation, an amount of property ! and a volume of rights and interests almost in- calculable. Those who advocate a blind and ! headlong plunge to freo coinage in the name of j bimetallism and professing the belief, con J trary to all experience, that we could : thus establish a double standard and a ' concurrent circulation of both metals in our : coinage are certainly reckoning from a cloudy 1 standpoint. Our present standard of value is J the standard of tho civilized world, and per mits the only bi-metallism now possible or at least that within the independent reach of any single nation, however powerful that nation may be. While the value of gold as a standard is steadied by almost universal commercial an I business it does not despise silver nor seelc it banishment, j Wherever this standard is maiut.i'ne 1 there is its side in free and unquestioned circulation a vol ume of silver currency sometimes equaling, and sometimes even oxceediur it in amount, both maintained at a parity notwithstanding a de 1 precation or fluctuation in the intrinsic value ot ' silver. Ther is a vast difference between a standard of value an i a currency for monetary use. The ' standard must n ?cessarily ba fixed and certain. ; The currency may be in diverse forms and of various kinds. No silver standard country has a gold currency in circulation but an enlight ened and wise system of finance secures the benefits of both gold and silver as cur:eney and eirculai ing medium by keeping the stand- i ard stable and all other currency at par with it. Such h system and such a standard also gives free scope tor the use and expansion ot ; safe and conservative credit so indispensible to broad and growing commercial transactions and bo well substituted for the actual use of money. The past is fnlt cf lessons, teaching not only the economic dangers, but the national im . morality that follows in the train of sr.ch ex pedient. I will not. believe that the American people can be persuaded, after sobe.- delibera , tion. to jeopardize their nation's prestige and ! proud standing by encouraging financed nos J trums, cor that they will yiekl tt the falso al i lurements of cheap money, when they -ieiliz j that it must result in the weakening of that I flnancirl integrity and rectitude which thus far ' n our history has been so devotedly cherished ! as one of the traits of true Americanism, j I have ventured to express myself on theso J subjects with earnestness and plainness of i speech because I cannot rid myself of the belief that there lurks in the proposition for t he free coinage of silver so strongly approved and so enthusiastically advocate! by a multitude or my cauntrymen a serious menace to our pros perity and insidious temptation of our peopl to wander from the allegiance thy owe to 1 public and private integrity. It is because I do not distrust the good faith and . sincerity of those who press this scheme that I have imperfectly but with zeal sumbitted my thoughts upon this moment us subject I cannot resrain from begging them to re-examine their views and beliefs in th light of patriots, reason and fami iar experi ence, and to weigh again and again the conse quences of such legislation as their efforts hav invited. Even the continued agitation of th subject adds greatly to the difficulties of a dangerous financial situation already foroed ' upon us. i In conclusion I especially entreat the people's : representatives in the Congress who ar charged with the responsibility or inaugurat ing measures for the safety and prosperity of our common country to promptly and effec tively consider the ills of our critical financial plight. 1 have suggested a remedy which my judgment approves I desire, to assure th Congress that I am prepared to co-operate with them in perfecting any other measures promis ing thorough and practical relief and that I will gladly labor with them in every patriotic endeavor to further tho interests and guard th welfare of our countrymen whom in our re spective places of duty we have undertaken to serve Ghoteb Cleveland. It Seems Incredible. Gazpin How old does a woman havs to be before she can vote? Hazbin Twentj-one, I believe. Gazpin But usually she doesn't vota nntil she's twice that age. Ilazbin I know it. You see she has to devote the intervening1 time to mak ing; up her mind how to vote. Eoxbury Gazette. Heinous Offen. Mrs. Figff Tommy put s bent pin in the minister's chair when he was calling; this afternoon. Mr. Fiprj? Gimme your slipper.quick. A boy who will plfcy suoh a trick on a man who d arse n't swear needs one of the best licking ths.t can be produced. Indianapolis Journal. Lids should always be put over sauce pans when in use. The steam is usu ally more beneficial to the dish being prepared than to the kitchen walls. In London the natural Increase of th population, from excess of tlrthg over deaths alone, is about 4,000 h month. Most European nations average for the male 5 feet 6 laches, but the Aus trians, Spanish and Portuguese Just fall short of this standard. UnterTifled small boys in Me., a few daya ago stole markers from the cemetery Portland, the grav? for use in making bounds for hockey playine . The cult known as Christian Science, founded in Button in 1866 by Dr. Mary Baker Eddy, now has 200 Incorporated churches in the United States. I-ast month was the moat prosperous Ut the history of the Brooklyn postof ilca. The eale. from ttampt, stamped envelopes, stc. amounted to Wl.csxtS.
