Butler citizen. [volume] (Butler, Pa.) 1877-1922, 1894-12-06
Congress and the Message.

ed By his collesges.
The usual floral tokens decked the desks
in both chambers. On ex-Spesker Reeds
desk rested magnificent floral ship full
rigged. On a card attached was the fol-
lowing: Advocate as you have always
nrotection and American labor, and the
ship will guide you into haven OF peace
full waters Amidships on the deck OF the
vessel. in blue immortelles, were the signi-
fcant figures "96."
Mr.. Lincoln, of Michigan. was presented
with miniature school house of flowers by
the American Protective association OF his
district.
'rwhom the Lord loveth He chasteneth,"
was the pious ejaculation of Mr.. Bynuu,
of Indiara, when Republican friend con-
doled with him upon his defeat.
'eThen the Lord must have a bOundless
affection for the Democratic party" retort-
| ed Mr.. Cox, of Tennessee, at which sally
| a score or more of Democrats in the I'M
MEDIATE vicinity wagged their heads affirm
atively and exclaimed, "Amen."
The days session wasdeveid of dramatic
| incident. However, the reading OF the
Presidents message consumed two hours
and was the only business of Importance
transacted beyond the presentation of sew
eral resolutions calling for information
concerning the recent issue of bonds, the
use of federal troops at the Chicago strike,
| and as to Armenian and Chinese atrocities.
These brought cut no debate, however,
and the interest of the day centered in the
| Presidents message. 1t was listened to
with attention, although it brought out no
demonstration of approval or otherwise
| from the members or spectators.
For the most part the message is sum-
mary of national statistics, the most prom
inent of whie h is the reporting of de-
| ficiency on last years expenditures and
revenues of practically so, 900. 900 and, an
expected one for the current year OF s2O,-
OOO. coo. The President does not seem to
observe the correlation between these fig
ures and the increase of the bonded debt
| by 800, ,000, 900, reported in another part
| of the message. Among minor recon-
mendations tn at for the continuance OF
the construction Of armored vessels Is
noticeable. On the tariff question, the
old policy has received such shock that
| the message confines itself to recommend
| ing the abolition of the differential on Ger
man refined sugars and the revision of the
navigation laws.
Il nL Al n1vart;zal tipanaial nnl-
| icy consists of two points. Neither OF
them will enhance the reputation OF the
| sdministra tion for comprehension of the
| monetary situation. On the question OF
bond issues and the reserve, the message
enlarges on the difficulty caused by pay
ing out the legal tenders received for re-
demption, but lays the responsibility on
Congress for not providing better author
| ity, and declares that the present method
| sill be continued so long as necessity ex-
lists. The responsibility of Congress is
undoubted, but the message shows the
utter inability OF the administration to
perceive its own responsibility in not keep
| ing the redeemed legal tenders in the fund
where they belong, and paying them out
only for the purposes of the reserve fund,
| i. e., when business desires to exchange
| gold for legal tenders. Had that been
done, the temporary retirement of paper
would have stopped the draft on gold on
the one hand, and on the other the re
source of drawing on the redeemed legal
tenders to supply the inroads of Congress
lonal extravaganza would have been taken
away.
1t was hardly to be expected that an ad-
| ministration unable to see this common
sense, business proposition would outline
currency plan that would improve the
situation. The administration bank plan
turns out to be not the Baltimore plan,
| but cross between the Baltimore plan
and the Chicago platform for State bank
issues 1t proposes bank circulation up
to rs per cent of capital, with deposit
| for its redemption of 80 per cent in United
States notes, and of per cent more to be
| accumulated by an annual tax. At its in
ception, therefore, As per cent Of the cir
culation is to have simply the value of
first lien on the bank assets. State banks
are to have similar privileges, and it is
characteristic of the policy that, while
there is an effort to insUre that the State
| notes shall at the outset have security
approaching that of national bank notes,
maintain the As per cent of their value,
shall continue unimpsired is very hszy, il
not wholly absent. Finally the message
proposes to do away with the present uni
versal redemption agency, "and that no
| fixed reserve need be maintained on ac-
count of deposits" This, the President is
| satisfied, furnishes q basis for a very
| great improvement on our present banking
| and currency system
In other words, the President proposes
to strike out the provisions which have
given uniformity and absolute security to
the bank circulation; to take away the pro-
lection to depositDrs that has made the
national bank system tower OF strength;
to leave note holders and depositors alike
to the vsgaries of speculative or dishonest
bank managers, and is satisfied that it will
be "a very great improvement"
| On Wednesday Senator Quay offered a
resolution repeating the differential duty
on sugar.
1t was said that the York State mem
bers would support Mcdowell for Clerk, if
the Pennsylvsnians would support New
| Yorker for doorkeeper.
THE KURDs continue their atrocities IN
Armenia, presumably by order of the Turk
J ish Government.
In one village the headman was nailed
to a post head down, and then scalded.
The whole village of Tchurig was charg-
| ed with sadifinn and the ppndarmes nat.