The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-02-06

For tho Present Condition OF tho Nations
finnncos-rhs Presidents DUTY.
To he Editor q ne iattuiqtner.
SIR:-Tho Presidents mes,age Of Jan.
uary IS, unlike all his previous official
communications, Is burdcned with a
son,s Of humiliation. lie admits his
lack OF confidence In the ability OF his
OWE party to devise and adopt ways and
means for the relief OF tho proseu. dis.
tres'ed condition OF tho country, aud
Tor tho first time appeals to tho non.
partisan patriotism OF Congress TO come
TO his relief. But he fails uttorly to
comprehend, or present, the full status
OF tho case. His diagnosis OF the dis.
case 10 only superficial and poetical,
and his remedies intended to treat aud
roIieve symptoms without removing the
cause.
He ignores entirely the idea that tho
deficiency Of revenue under the present
tariff lies n. the bottom OF all tho pres
ent trouble. This Is the primo cause Of
the lack OF confidence and apprehen.
sion. OF which he speaks. that the gov.
ornment will no, continue 10 redeem It's
obligations in gold. When the cxpendi.
turos OF an individual or nation exceed
the income and can be met only BY Dor.
rowing. it requires but n superficial
knowledge oil domestic or political econ.
omy to ioresee tho end. Tho lack Of
reyenue is the cause, the withdrawal OF
gold from the treasury an effect; yet he
otlors no remedy for the cause, but
would relieve the effect BY periodical
doses OF increase OF the public debt.
But another aud equally important
effect, first oil apprehension as 10 what
his party would do, and now OF GER
tainty that it will do nothing for relief,
IS the prostration OF the internal indus
tries and business OF tho country. This
he pcrsis.entIy refuses TO see, though
his blindness, while appealing TO the
patriotism OF the country, savors sus.
piciousiy OF partisanship.
Tho first step toward relief both for
the business interests OF the country,
demanded by the patriotism OF the
country, is provision for more revenue.
But 1t does not require Il prophet to
foresee that this will not be provided
by the present Congress. II the Preai.
dent can so far sink the partisan into
the patriot as to call the F~ii,y-!our,h
Congress in extra session promptly after
the i.h OF March: the prompt re peal OF
the Wilson.Gorman-Brice tariff act, and
the ro.enuctment OF the Mckinley act,
would cause an immediate revival OF
business and, with it. 4 flow OF money
into the treasury. This accomplished,
the next step should lie TO temporarily
sustain the gold reserve in the treasury.
by requiring tho duties on imports to
be paid in gold-say for two years, or
even Indefinitely on imports from coun-
trie, having a single gold standard.
Next: Provide for tho issue of D per
cent fifty year bonds &c redeem and
cancel tho outstanding United States
notes aud the treasury notes, and 10 ro-
fund the present bonded indebtedness;
to form a basis Tor national bank issues
to tho full value OF funds deposited.
These measures; being distinct in their
nature, should each stand Upon their
W merits. The Mckinley tariff. while
administered by tho Republican party,
was producing not only sufficient reve.
hue for tho curront expenses OF the gov
eminent, but n small surplus. II
promptly rc-cnacted, il would accomp.
lish the SAME again, tho disturbed bust
ness conditions would ~re-adjust them
selves to it At once, and in three months
the country would DO aglow with the
revival OF prosperity, with employment
for all who wish to work and Il speedy
return to the Republican standard OF
wages. ii experience has shown defocta
in the Mckinley tariff, they could be
runicdicd q. leisure, aud without dis.
turbing any interest.
With respect to tho second PROPOSE.
ton it is nnwiso, under normal condi-
tons, for tho government TO dlscrimi-
nate between the diileront media OF
currency in circulation among the poo
plo; but Clcvoland's "objcct lesson" OF
tho spring OF '93 has cuiminatod into
sucl, an abnormal condition that u tom.
porary departure from ordinary moth
DDS seems now to be not only justiliablo,
but absolutely necessary. This should
not DO adopted NJ establishing n policy
to be adhered to, but only rs 4 tcmpor-
nry "nnkc.shii;" to bridge tho yawning
md Widening chasm, until it can DO
otherwise closed.
Tho third proposition in tho above
outline proposes no increase in tho pub.
lie debt. With tho oihor two PROPOSE
lions adopted, nc increase Is, or will DO
necessary. The gold reserve is already
provided for. There should DO no com.
pulsory redemption Of tho "ereenbacks"
and treasury notes, but as redeemed
oithor with gold or bond} they should
DO cancelled. They seem to have out
lived ,hoir usefulness, and have DO.
come n disturbing oloinGnt in tho inan-
cial system OF the country. When
known that thoy would not DO ro.issued
af,or reaching tho treasury through any
channel, they would DO kept in c~irculu.
ton n, long us possible. 40 that lhpro
would DO no suddcn contraction of tho
currency; aud with tho encouragement
given national banks by this PROPOSE.
ton it ia likely that national bank
iasuos would increase faslor than tho
"grsenbncks" and TREASURY notes would
DO redeemed; and thus Il safo. sunicien.
and sufficiently elastic currency would
DO provided for almost two generations.
Legislation In tho intorest OF silver
should DO distinct and stand upon liza
W merits az these propositions do.