The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1895-12-04
THE PRESIDENTS MESSAGE.


NNontlnuCu from flfht faRc.)
standing and prepared to join their older
and more experienced allies in future raids
upon the treasury's gold reserve
In other words, the government has
paid in gold more than nine-tenths of its
United States notes. and still owes them
all. Ii has paid in gold about One.half
OF its notes given for silver purchases
without extinguishing by such payment
one dollar Of these notes.
Greonbac0s should bo Retired.
81 am convinced the only thorough and
practicable remedy for our troubles Is
found in the retiroment and cancellation
Of cur United States notes, commonly
called grosnbacks, and the outstanding
treasury notes issued by the government
in payment of silver purchases under the
act OF 1899.
''I believe this could be quite readily &C.
complished by the exchange OF these note,
for United States bonds of small az well
as large denominations, bearing lew rstG
of interest
They should be long term bonds, thus
increasing their desirabillty as invest
msnbs, and because their payment could
be we'll postponed 10 q period far removed
AANliA NAVu1hb hhdnGlebA buIutub anu per
plexi5ies, whon with incrossad prosperity
and resources they would bS more easily
met.
To further insure the cancellation OF
those notes aAd also provide a way by
which geld aay bs added 10 eur currency
in lies Sf ASH, a feature in tho plans
should be an sutAsrity given 70 the score.
tary sf ths treasury 10 dispose Of the bondi
ahFnAG n ~ Al Al th1
bsmplatsd rsdsnptlsn and saRsellatSR,
permitting kin to ass ths ProsssdE Of suck
bsRdS 10 take aP Rad cancel any Of the
AStoa tAaS May bs in the treasury or that
AAy bs TSssivsd BY tho government on an ,
account The Increase Of eur bonded debt
iRVslVsA in this PlAn would be amply Gem.
PensabSd by renewed activity and enter.
prise in all buBiAOsS circles, che restored
SSR1deneo at horns, the rsinstatsd faith in
eur menStAry strORsth abroad, ARd tbs
uAnulAtton Of every interest and industry
nsRk Tax Should be Reduced.
"TAs currency wishdrawn By the retire
meat Of thS UAitO6 States nosss and treas
AIRY notes, amounting 10 probably less
than S+s6, ,Ooo, ,0Oo, might be supplied by
sHoh geld ~ weuld be zssd on their retire
neat or By an increase In the circulation
81 eur nRtisRAl banks. I think they should
b allowed to iSsue circulation equal to
ths par vHlus Of the bends they Deposit to
sseurS II, Nnd that the TAX On their eiTou.
iAtiSH shSuld bs reduced 10 Szs-fouFth OF
HsT osnt, which WsUld undoubtedly
HAOst sil ths SKpsnSs tAe sovornmeRt in
Surs On their RsSsunt. In addition, thoy
RhOulG bs allowed - sNbstitRte or deROsit,
In hsu q thS bends new required rs So
OuFitV fer their 0iFSHlatiSA, UAosS whioh
would Be issued fer he PHrPSsS Of retiFin 4
the UntSOd States ana treasury notes. The
banks si.sR&y existing, Il they dssired to
avail ShO@sSlvos Of tAs provision Of law
SANs neAi4oA, SSuld issue oiPsulaSiSA in
addition tS that already outstanding.
II DO Ast SvsrlSOk tVas fast that tho
saASRllRdoA Of the trsGsury notes issued
HnGex we silver purchasing act Of 1896
WSuld lSsVO the treasury in tho SOtuRl
SwAsFshtP Of sUf2oiSnl silver, including
SsiSaiSreSS, ts seiH nearly a17S, 900, 6Os In
standard dollars II ia wSrthy 81 ooRsid.
eFASdsn washer this Eaisht net, from sime
10 dRS, be covered late dOllArs OF fsao.
@ehL Oedn and OaOwly put iAtO clroula.
Hen, Rs in t&e iHagnOn Of the Soeretary
ef ShS brsasury the necessities OF the ooun-
bay should require.
"WhAteVsr is attempted ah0ald be on.
tered upen fully appreciatins the fact thai
by careless, easy descent We have reached
dangerous depth and that eur ascent
will not be accomplished without laborious
toll and struggle. We shall be wise if we re
aliSO that we are financially i'll and that our
restoration to health may require heroic
treRtmont and unpleasant remediss."
Further on the president says
'Inasmuch ss ths Withdrawal of oul
gold has resulted largely from fright,
thOrs is nothing apparent that will pre-.
Won't its continuance or recurrence, with
it's natural consequences, except such a
change in our financial methods as will re-
assure the frightened and make the desire
for gold less intense. 1t is NOS clear how
an increase in revenue, unless 1t be in
gold, can satisfy those whose only anxi-
ety is 10 gain gold from the governmont's 4
store 1t cannot, therefore, be safe to
rely upon increased revenues as cure
for eur present troubles.
A DenunciNtlSA of Free Coinage.
MANY Of my counbrymen, whose sin
oerity do not doubt, insist that the cure
for the ills now threatening US may be
found in the single and simple remedy of
the free coinage of silver.
"Those who believe that our Independent
free coinage OF silver at an artificial ratio
with gold at 16 to l would restore the par
ity between the metals and consequently