The Dalles times-mountaineer. [volume] (The Dalles, Or.) 1882-1904, 1894-12-08
THE MESSAGE.

THE MESSAGE.
The presidents message, which was
read to congress yesterday, is not a
strong or hopeful document 1t could
not be expected to be under the cir
cumstances. Less than month ago
the present administration received
the severest rebuke ever administered
to political party, and it was not to
be expected that the president would
smile complacently under the censure
and acknowledge that it was deserved.
This is not human nature, and We
doubt if any president in the history
of the republic ever wrote state
paper of such Importance as an an
nual message to the law. making power
of the nation under such unfavorable
conditions. Two years before the
country had endorsed the policy of the
executive, and in November last they
had emphatically and unquali6edly
condemned Democracy and free trade
The president congratulates the
country upon the peaceful relations
EXISTING with other nations, and, per-
haps, there has not been a message
since the first one written by General
Washington, that mas not contained
language of the same import. This is
expected, and the people consider the
phrases almost stereotyped for con-
tinued use. There will be very little
interest taken in this part of the docu
ment, and the column will be hastily
scanned. The financial statement will
elicit some attention, and the presi-
dents figures show a deficit during the
present year of $69. .s03. .26O5s. This
is not encouraging. and Mr. Cleveland
gives no brighter prospects for the
future. Free trade does not conduce
to an overfowing treasury, and if this
is an advantage to the country Demo
caatic policy is failure. Again there
is deficit in the postal department;
but the executive says this is directly
traceaole to the financial depression
suffered throughout the nation.
The president has not changed in
his antagonism to the pension system,
and pays high compliment to the
management of this department, Mr..
Cleveland is undoubtedly man pos
sessing the courage of bis convictions;
but the old soldiers will not believe
that the sum paid those of their NUN
Der who have been disabled by wounds
or sickness during the recent civil war
is one of the means of bankrupting
the nation. He is yet 10 favor of free
coal, iron and sugar, and expresses
himself strongly in supprt of radica
tariff reform.
The financial scheme of Secretary
Carlisle Is Incorporated in the message;
but where there is any Improvement
on the present excellent national bank
system is difficult to discern. 1t is
proposed 20 repeal all laws providing
for the deposit Of United States bonds
as security for circulation; to permit
national banks to issue circulating
notes not exceeding in amount rs per
cent of their paid up and unimpalred
capital, provided they deposit with the
government as a guarantee fund in
United States legal tender notes, in
cluding treasury notes of 1890, sum
of equal amount to 80 per cent of the
notes they desire to issue; this deposit
to be maintained at all times, but
whenever any bank retires any part of
its circulation proportionate part of
its guarantee fund shall be returned to
it; to permit the secretary of the treas.
ury to prepare and keep on hand
ready for issue in case an increase in
is desired, blank national
bank notes for each bank having cir
culation, and to repeal the provisions
of the present law imposing limita-
tions and restrictions, thus permitting
such increase or reduction within the
limit of the 70 per cent of capital, to
be as quickly made as emergencies
arise. To provide a safety fund for the
redemption of the circulat-
ing notes of failed banks tax of !
or per cent upon the average circu-
lation is proposed until the fund
amounts to 5 per cent of the total cir
culation. This scheme, the president
thinks, will make the currency more
elastic and on more substantial basis
than at present. At best, it is simply
and the present national
bank system has been very successful
The present session of congress ex-
pires on the 4th of March, and little,
if anything viii be done with the re-
Of President Cleveland.
Of course, the usual number of copies
will be printed of the message; but in
he archies OF the nation it will occupy
40 important position and will be
Enown as one of the most discouraging
tate papers ever issued from the
executive department. :
A MORAL TIDAL WAVE. e'