The times. (Owosso, Mich.) 1882-1897, 1894-12-07
PRESIDENT .cLsveLANo,s MESSAGE.
ne Advocates Change In the Currency
system ON the Baltimore Plan.

He Advocates "A Change I'm the Currencv
system ON the Baltimore Plan.
WASHINGTON, Dec. 4-President Glove
ianu message covers tho whole ground
Oh executive action, leaving no depart
ment thereof untouched. Tho most inn
portant purt Is that referring to a change
IN Inc currency system, in which he ad.
vocates practically the Baltimore" plan
"a scheme devised at meeting of bank
ers at Baltimore. Briefly this plan repeats
the laws for the deposit of bonds as Sc
CURLY Tor circulation, providing instead
ios a guaranty fund in legal tenders of s
pesc of the total circulation of the
banks
On the tariff no advocates tho passage
by the senate of the free iron and coal
bills and the abolition of the differential
1kuty on sugar from countries that pay
bounty on exports of that product This
duty is what caused Germany to put an
embargo on our beef products Referring
to the sugar industry he says: "lf, with
all the favor now accorded the sugar re-
lining interest in our tariff laws it still
languishes to the extent of closing reflner-
les and thousands of discharged workmen,
it would seem to present a hopeless case
for reasonable legislative aid"
The president puts in word for free
ships and advocates continued increase in
tho navy. The great Chicago strike is
dismissed with a reference to the use OF
troops for the purpose of enabling the
railways to start their trains, which he
says was done satisfactorily and in
obedience to the laws and constitution.
He refers to the governments efforts to
induce China and Japan to negotiate
peace, to tho recognition of Hawaii, the
treaty with Mexico and the Armenian
outrages, as well as to the Brazilian re-
bellion, the death of the car and other
foreign matters, at considerable length.
The issue of bonds he stoutly defends.
After stating the circumstances under
which they were issued he says: at is
perfectly and palpably plain that the only
way under present conditions by which
this reserve when dangerously depleted,
can be replcnished, is through the issue
and sale of the bonds of the government
for gold, and yet congress has not only
thus far declined to authorize the issue
of bonds best suited to such purpose but
there seems disposition in
some quarters to deny both the
necessity and power for the issue of bonds
at all. cannot for moment believe that
! any of our citizens are deliberately willing
What their government should default in
its pecuniary obligations or that its
financial operations should be reduced to
silver basis.
Gas long, therefore, as no provision is
made for the final redemption or the put
ting aside of the currency obligation now
used to repeatedly and constantly draw
from the government it's gold, and as long
rs no better authority for bond issues is
allowed than at present exists, such au-
thority will be utilized whenever and us
often as it becomes necessary to maintain
a sufficient gold reserve, and in abundant
time to save the credit Of our country and
make good the financial declarations of
our government"
With the exception of the currency, tar
iff and bond matters the me ssage is large
ly n routine document.