Democratic Northwest and Henry County news. [volume] (Napoleon, O. [Ohio]) 1894-1905, 1895-12-12


force obedience TO our neutrality laws
md to preveat the territory OF the Uni
ted States from being abused as q
vantage ground from which 10 aid
those In arms against Spanish sover-
eighty.
TURKISH SITUATION.
Occurrences in Turkey have con-
tinued to excite concern. The reported
massares Of Christians in Armenia and
the development there and In other dis
tricts of fanatic hostility 20 Christian
Influences naturally excited apprehen-
sion for the safety Of the devoted men
and women who, as dependents OF the
foreign missionary societies In the
United States, reside in Turkey under
the guarantee OF law and usage and In
the legitimate performance OF their
educational and religious mission. NO
efforts have been spared In their De-
half, and their protection in person and
property has been earnestly and vigor-
ously enforced by every means within
our power.
In view OF the growth Of our interests
in foreign countries and encouraging
prospects for a general expansion OF our
commerce, The question of an improve
ment In the
CONSULAR SERVICE
Has increased in importance and ur-
gency. Though there is. no doubt the
the great body of consular officers are
rendering valuable services to the trade
and industries of the country. the need
Of some plan OF appointment and con-
troll which would tend TO secure higher
average of efficiency can not be denied.
The importance Of the subject has led
the executive to consider what steps
might properly be taken without ad-
ditional legislation, to answer the need
of better system Of consular appoint
ments. Ths matter having been COM
mitted to the consideration of the sec
retary Of state In pursuance of his rec
concentrations, an executive order was
issued on the goth of September, 1895,
by the terms Of which 1t is provided
that after that date any vacancy In a
consulate or commercial agency with an
annual salary or compensation from
official fees OF not more than $25O0 or
less than $1,000 should be filled either by
transfer or promotion from some other
position under the state department.
NATIONAL FINANCES.
AS we turn from the review of our
foreign relations to the contemplation
Of our national financial situation we
are Immediately aware that we ap-
proach a subject Of domestic concern
more important than any other thai
can engage our attention, and one at
present in such a perplexing and deli
cate predcament as to require prompt
and wise treatment, we may well be
encouraged to earnest effort I'm this
direction when we recall the steps al
ready taken toward improving our
economic and financial situation, and
when we appreciate how well the way
has been prepared for further progress
by an aroused and intelligent popular
interest In the subjects.
By command of the people q customs
revenue system designed for the pro-
lection and benefit of favored classes
at the expense of the great mass OF
our countrymen, and which while in
curtailed our trade relations and I'M
peded our entrance to the markets OF
the world, has been superseded by a
tariff policy which in principle Is based
upon a denial of the right of the gov
ernment to obstruct the avenues to
our peoples cheap living or lessen their
comfort and contentment for the sake
of according especial advantages to
favorites, and which, while encourag-
ing our intercourse and trade with
other nations, recognizes the fact that
American self-rel1ance, thrift and in
genuity can build up our country's
Industries and develop Its resources
more surely than enervating paternal-
ism.
The compulsory purchase and coin.
age of silver by the government un-
checked and unregulated by business
conditions and needless of our currency
needs, which for more than fifteen
years diluted our circulating medium
undetermined confidence abroad in oul
financial ability, and at last eliminated
in distress and panic at home, has
been recently stopped by the repea
of the laws which forced this reckles.
scheme upon the country.
The things thus accomplished, not
withstanding their extreme importance
and beneficent effects, fall far short
of curing the monetary evils from
which we suffer as result Of long
Indulgence in Ill advised financial ex.
pedients.
The currency denominated United
States notes, and commonly known al
greenbacks, was issued in large vol
llme during the late civil war and wa.
Intended originally to meet the exigen
cies of that period. 1t will be seen by &
reference to the debates in congress a
the time the laws were passed author
izing the issue of these notes, tina
their advocates declared they were In
tended for only temporary use and t.
meet the emergency of war. In alnos
If not all the laws relating to then
some provision was made contemplat
ing their voluntary or compulsory re
tirement. A large quantity of them
however, were kept on foot and min
gled with the currency Of the country
SO that at the close of the year 1877
they amounted to 1881, ,999,O73.
Immediately after that date and II
January, 1875, a law was passed pro
viding for the resumption of specie pay
ments, by which the secretary of tn,
treasury was required, whenever addi
tional circulation was issued to ma
ttonal banks, to retire United State
notes equal in amount to so per cent
of such additional national bank cir
culation until such notes were reduced
to $500, ,OOO, ,OC0 This law further pro
vided that on and after the 1St day O
January, 1879, the United States note
then outstanding should be redeemes
in coin. anu in order ITO provide ant
prepare for such redemption the secre
tary of the treasury was authorized no
only to use any surplus revenues O
the government, but to issue bonds O
the United States and dispose of then
Tor COIN, anu " uoC IhC ptOCe6uS 10
the purposes contemplated by the stat
ute.
There has been issued and sold sos.
500 900 of the bonds authorized by tn
resumption act of 1875, the proceeds O
which, together with other gold in tn
treasury, created gold fund deeme
sufficient to meet the demands whic
might be made upon it for the re
demption of the outstanding Unite
| states notes This fund. together wit
other gold as might be from time t
time in the treasury available for tn
same purpose, has been since called ou
gold reserve, and s10O,000,OOO has bee
regarded as an adequate amount to &C
complish its object. This fund amount
ed on the first day of January, 1897, t
| STA, ,199, $3.50, and though thereafter con
stantly fiuctating it did not fall belo,
that sum in July, 1892. In April, 1S9;
| for the first time since its establish
ment, this reserve amounted to les
than $1OOOOO,0OO. containing at tha
date only $97,Ol1,3SO.
| t. tha meantime opd ", I,1Iv 100