Pine Bluff daily graphic., 1895-12-04

1 seIt1ed Dv the p1yLieit O. iiis itth eas 9l = l tember last Of Che sum orlginalis aEfeed upeu | ln Iiaufdatfon of th' claim Is asSle pniieh 1 has proceeded as ripiiiy as the fieets#f lh9se claiming the flitd Col be safely sts9falHea 1 pceI1rrencps in IurNev have tinffed 10 i excite concern Tn, re ..Octed taassttfes ol l Christians In ArmrHia unu the dsf1 G.5t.teHt i there and Ill otiei distriCtS 9t 2 sptgIt 3f 5t | natic hostility tO hft sts6 ttiigstl',t7 <, 2 naturally excited app rehenstoh TOT the safety or tie devoted men a'ias "9ih' @ '. T who. as dependents Of the fareign illsa.tlt } societies iii the liui ei Siiltes- sl1s III u4htY i under the istrantee 0f law aIid uSaBe ai.a q. the egitfm4te performance ot tAif ea Aeat5 illsi and feffgf5fis misstOit No 5ii4rts have beeti spurel III tHclr behalf, uAd their pf3tee iot III | person Hnd ptaperty hus been earnestly aH't | vigorously enforced 6y every meahs WltHlh our
 Our minister has been yiglant and aiert i4 1 atfording all possible prot clien In individual i cases where danger threatened or safety was 1 imperaed. We have sent ships us lar towards the points of actual disturbances as is possible | for them 10 gt where they offer refuge to those l obliged to flee and we have the promise of other powers which have ships in the neighbyfhood that our citizens well Hs their will ba pro tected on boHrd Of these ships
 By treaty several of the most powerful European powers have secured q right and as sumed duty not only in behalf oI their own citizens and ia fuftheranee ot their own n terests but as agents ot the hrlstian world her right Is to enforce sqeA coHGuet of the Iurlklsh government as Will restrain Ia nafieaI brutality he powers declare this right and this duty is to be theirs aone and it is earnestly hoped that proWpt aad effective action on their part will not be delayed.
 In view ot the growth of our interest in for 2 eign countries and encouraging prospects for a general expansion of our commerce., the question of an improvement in the consular service has inGr. ased in importance Though thero Is no doubt that the great body of con sular offices are rendering valuable service 10 the tra.le and ministries of the country, the need of soma plan or appointment and control which W0utd tend to secure higher average Of eficeHcy cannot be denied The import anee of Che subject has led the executive tO consider what s.eps mi- ht properly be taken vii that all positions paylng between 61000 and S9550 shall hereafter be filled by promotion Or by appo.ntmeat subject to examination as to fitness 10 hold su h places. The total number Of positions as above Is about ID.
 am thoroughly convinced that in addition their sHIarieS, our ambassadors and ministers it foreign c0u tries should b. provided by the goyernmant with official residtnc as The sa.a- fies of these uuIcers are ompnrliYely small, and in most eas lHsullicieht u Fay, with other necessary exFEuse~, the cost 0f maintaining household establIshm nts Iii keeping with their important and delicate functions. These Considerations and the other advantages Of having HSed and somewhat permanent lo- cations lar our embassies would abunddntly justify the ul5drrate expenditure necessary to carry out tHls suggestion.
 w. may feel ,,.l5o ra se to earn ss5 effort in this dfr= etlon, when We recall the steps r ady ttaea wand lmprOVln. our Gcon0m and Il nan i:tl situ aiOn, when eappr ciate how we'll tha Way has be prapafrt for future pfa&sess y intelligent popular n crest In
 FINANCES
 The campu sory purchase and eoinage Of silver bF the sOyernment unchecked and un regulated hyhd-lhess conditions and needless of oar currency needs. which for more than fifteen years uItuted Q IT circulating medium, undtrmi ded confidence abroad in our financial ability. and at least cuImIuated i'll distress and paHae at holne ha1 been recently stopped by the repeal ot the laws which forced thIs reclk- less scheme upon the country fhe things shis accomplished. notwithstanding their extreme importance and beneheent effects, taH far short of curing the monetary evils rom which sufer as result of long indulgence ill ill advised financial eNped1ents- Inc currency denofnlnated Init, Il states notes and com moniy known as grtenbacK9. was issued i'll large YoIHme during the late civil war and in tended originally to meet the exfgencies of that period, II will be seen ny refeFence to the debates ill congress at the ttue the laws Were passeQ authorizing the issue of these notes.
 That thelr advocates declared that they were intended for oily temporary Use and t0 meet the fmgTEUHry oG WAT in Him0st. If not ali the l laws relating ae them some provision WAs mad c0ntempiatIu-s til IT. voluntary or compulsory retirement. A large quantity of them4 how i ever were kepJ on foOl and mingled with the eurIeney ot iIt. country; so At the close ot the 1 year l574 th ' amounted 10 335ia9.97f Imme- diately ' aiter thtt ,te. and tu January, 1s15, d i law Hus ptsseH .ptoViuing f8f the resumption i of speele paSments by which the secretary i of the treasury Was required whenever addl l tionaI eircula on Was issued to national banks i to retire Umtod States notes equal i'll amount | to 50 Der cent of such -ddtC0nal national b .nk 1 cire tlasian uHtil such notes were redHe d tc l on and after h. It day of January. l5I9, the United States uo.es til ,u outstanding should l be redeemed tn on, ant m rslar to provide and prepare for su redemption th s-cre. any 1 Of the treasury was auln rlzad not only to us, | any surplus revenues Of the government bu tt issilt, bontis )f thC. United S5aues and dis 1 pose of them for oin and t. uee the proceed for the purpos Cputempated bN che statu 6 | In tiuy, iS.o, ard before the date thus appoint l ed for the redemption and retirement of thes
 notes another s'atute was passed iofbiddtns their furIhlr cancel ton and retirement
 some Of them had however, 0aen preyioasl, | redeemed and cancelled upon the issue of nd
 ditouai national bank circulation. as P rmit
 ted by the lHW ot ts,5, so thut the amount out | standing aG the time of the paAsage of the aC
 forbidding their further retirement was $346
 GSl lUl6, The law or 1875 did not stop at distlIlc l prohibition but contained in addilion the fol | lowing eXpress provision; And when any O i said notts may be redeemed or be r.
 ceiYed tuto the treasury, under an
 law from any Nnrce whatev T, an
 not be retired, cancelled or destroyed but the
 shall be reissued and paid out again, and kep 1 i'll circulation This was he condition Q
 aHalrs on the ist day Of January, 1of3 Whlc
 had been fixed upon four years before as tn
 date for entering upon the redemption and re l tiremeat of ali those notes. and for which sucl
 abundant means had been provided. Fhe gov | ernment Was put in the anomalous situation 0 1 owing to the holders of it's notes, debts payabl | in god on demand which could neither he re
 tired by receiving such notes in discharge e
 obligations due the government, n0r caneelle | by actual payment in gold. IL was forced t l | acquiitance.
 There has been issued and sold Sao500,0j0 c
 the bonds authorized by tue resumption act c
 fSIS. The proceeds of which. together wit
 other gold ill the treasury created gold fun | deemed sufficient to meet the demands Whtc
 might be made npon it for the redemption ( l the outstanding United States notes. Fhi
 fund. together with such otqef gold as nigh
 be from time to time in the treasury ayailabl
 for the same purpose, has been since called Ou
 gold reserve. and $lO0Q00,C09 has been feearde l as an adequate amount 10 accomplish it's Ot
 jeet This fund amounted on tn
 lst day of January, 1872 to stl4, l95i
 and though thereafter constantly huetuatln
 it did not fall below that sum in July, 692, 1
 April, 1873 for the first time since it's establish
 Inents this reserve amounted to less than 9lDo
 000,0Q0, containing at that date only 4920ll,33
 Tn the meantime, and in July. lsla. an act ha
 been passed directing larger g0vernmenta
 monthly purchas s Oi silver than had been le
 qu1red under previous luWH and providing thu
 in puy yment for silver treasury notes of th
 United states should be issued payable on de
 rnHHd iii gold or silver coin at the discretion O
 declared in the act to be the established polio
 of the United states to maintain the two m tai
 on parity with each other upon the nresen
 legal ratio or such rotio may be provided b.
 law.
 In vew of this declaration it was not dseme,
 p-fmisslhle for th '-tHry of the tccasur,
 to e&ercs @ the .s,re.iOn i'll terms confer @,
 on him bv retls IF t0 pay gold these note
 when q. handed baeau by such di erimina
 tion iz lavor of the gold dollars the o-callst
 parity of the two me als would ha destroyet
 snd grave anu dangerous consequences woul
 De pfeclpitated by affirming or a eeAtuating tho
 constant y wiaeding disparity etwaen the
 circulation under the eXistint ratio
 IL thus resulted that the treasury notes is
 sued in payment of silver purchases under the
 of tst1 were necessarily tFaafad tft, fl