The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1895-02-08

In his message sent to Congress on
the zSth ultimo the President reminds
rhe lawmakers that he suggested
elans for financial relief in his last
annual message which they chose to
ignore, and in consequence the situa
uon is now rather worse than better :
that the emergency Of the present
impels him to again ask at the hands
Of the legislative branch Of the govern
ment such prompt action as will res
tore confidence and avert general
distress. Conditions having changed.
the President now changes his recon-
mendations for lasting and permanent
relief.
Thoroughly deprecatipg the par
tisanship that stands as a menace and
barrier TO needed legislation even
when distress stares their constituents
IN the face, the President observes
ait is hardly disputed that this pre-
dicament conftonts US to day"
OF course party advantage is sought
as frequently in the refusal as in the
making of wise and wholesome laws.
Being perfectly cognizant of this fact
the President is led to remark: No
one in any degree responsible for the
making and execution of our laws
should now fail to see a patriotic duty
in honestly and sincerely attempting
to relieve the situation. Manifestly
this effort will not succeed unless it
is made untrammeled by party pre-
judice, and with determination to re-
sist the temptation to accomplish
party advantage. We may well re-
rember that if we are threatenei
with financial difficulties all our peo-
pie in every station Of life are con-
cerned. and surely those who suffer
will not receive the promotion OF
party interests as an excuse for per
mitting present troubles
The real trouble which confronts
US consists in lack of confidence
widespread and constantly increasing
m the continuing ability or disposition
Of the government to pay its obliga-
tons in gold. This lack OF confidence
grows to some extent out of the pal
pahle and apparent embarrassment
attending the efforts of the govern
ment under existing laws to procure
gold and to a great extent out of the
impossibility Of either keeping 1t in
the treasury or canceliug obligations
by its expenditures after it is obtain.
ed"
lust here it occurs to the unsophis.
ricaied that it might have been posi-.
BILE for the government to have gotten
considerable money from this patriotic
people without promising to pay
everything back in coin or in gold OF
its equivalent. If nothing but gold
bearing bonds will be touched by the
rich, Why not issue few six per cent
paper bonds just for luck and relief
If the rich will not buy them the poor
would be only to glad to have them a:
= secure investment. But they are
not doing things that may just yet ir
this country. To the credit OF mo
marches be it said, they at least give :
poor man a secure government invest
ment and do not place him entirely
In the hands of skin flints and sharper,
As is done premeditatedly in thii
beautiful Land of the free.
Gold, and nothing but gold, being
demanded by those who hold Uncl,
Sam by the throat by virtue Of law!
oftheir own making that gives then
the hold. the President is led to dis
close in his message just the hold tn,
money power now has on this govern
ment.
~The only way left open 10 tht
government for procuring gold is b,
the issue ard sale of its bonds. Th,
only bonds that can be so issued wer,
authorized nearly as years ago and ar,
not well calculated TO meet our pre-
sent needs Among other disadvan
tages they are made payable in coli
instead Of specifically in gold, whicl
in existing conditions detracts largel
and in an increasing ratio fIom thei
desirability as Investments 1t is b
no means certain that bonds of ihi
description can much longer be dispos
cd Of at a price creditable TO tn
financial character Of our government
The most dangerous and iritatin
feature of the situation, however, re
mains to be mentioned. 1t is foun
in the means by which the treasury
despoiled Of the gold thus obtaine
without canceling single government
obligation and solely for the benef
Of those who find profit in shippin
il abroad or whose fears induce ther
to hoard it at home. We have ou
standing about Ssoo,ooo,o 900 {
currency notes OF the government, fc
which gold may be demanded, an
curiously enough the law requir;
that when presented, and, in fac
redeemed and paid in gold, they sha