The Caucasian. (Clinton, N.C.) 188?-1913, 1895-12-12
THE PRESIDENTS
MESSAGE.
1t Recommends the Retirement of
Treasury Notes and the Issu-
ance of More Bonds.
RI STRIKES AT SILVER,


show-A Goidbug, BondhoIder's Plea
Prom Beginning to End.
The Presidents message, sent to
Congress last week, is one of the long
est ever written. 1t is here condensed.
there being little eabridgement, however
nf it's utterances on the chief matter Of
interest before the people, viz: the
financial issue. Elsewhere may be
seen such opinions as the CAUCASIAN
has To offer on the document.
We are informed that the Argentine
ltepublic appreciates our efforts to ex-
tend the sale Of its wool i'm this country
by oireriug free importation.
The missions boundary dispute be-
tween the Argentine Republic and
Brazil, submitted to Mr.. Cleveland for
arbitration, has been decided in favor
Of Brazil.
Negotiations are progressing for the
revival of the United States and Chilian
claims commission. 1t is stated that
the resumption of specie payments by
chile is step Of great Importance.
IL is stated that the energetic policy
of our government has made American
interests safe in China.
Fairer trade relations are deman led
with Germany, and a retaliatOry policy
is suggested If our cattle and food
products are to be Disseminated
against.
The speedy adjustment is recon-
mended of the damages claimed for the
seizure of British vessels by our ves-
sells in Bering sea.
The fixing of the Alaskan boundary
line is recommended, and also the Ca
madam boundaries.
When something further is heard
from the British government the Pres
ident will communicate with Congress
in regard to the Venezuelan question
The lynching of Italian laborers in
Colorado is condemned and legislation
is suggested to prevent this growing
evil.
Strict neutrality in regard to Cuba
is recommended.
It is stated that every possible pro-
vision has been made for the protection
Of American interests in Turkey.
The improvement of our diplomatic
service is urged, and it is suggested
that our ambassadors and ministers
shall be provided by the government
with official residences.
One item of colossal importance il
mentioned in the following words:
"The coronation of the cZar of Russii
at Moscow in May next invites the
ceremonial participation of the United
States, and in accordance with usage
and diplomatic prOpriety our minister
to the imperial court has been directed
to represent our government on the OC
casion."
Reference to the tariff is made il
which il is claimed that the reCen
tariff law effected a system by which
one class of people could not be bene
fitted at the expense of other classes.
That part Of the message dealin:
with the
FINANCIAL QUESTION
gives at length recital of the thre
bond issues carefully emitting, how
ever, to state that those by whom tn
bonds were brought were enabled b.
the peculiar bargain they got t.
make many millions of dollars. Afte
stating information in connection
with the bond issues the message con
tinues as follows:
"The foregoing statement OF event
and conditions develops the fact tina
after increasing our interest bearing
bonded Indebtedness more than $lG2,
100000 to save our gold reserve, we ar
nearly where we started, having nov
in such reserve $79, 1888, ,966 as agains
$G5,l3s,3 ,377 in February 1894, when tn
first bonds were issued.
Though the amount of gold draw
from the treasury appears to be yer
large, as gathered from the facts an
figures herein presented, it actuall
was much larger, considerable sum
having been acquired by the treasur
within the several periods stated
WITHOUT THE ISSUE OF BONDS.
On the 18th of January, 1895, it was RI
ported by the secretary of the treas
ury that more than $40, 100000 of gol
had been withdrawn for boarding {
shipment during the year precedln,
lie now reports that from January
1879, to July ii. 1890, period of MOI
THAN ELEVEN YEARS,
only little over $2s,OOOOOO was will
drawn and that between July ii, 1S9
the date of the passage of the law II
an increased purchase of silver, ar
the first day of December, 1895, or will
in less than five and half years, the1
was withdrawn nearly $375,OOO,OC
making a total of more than $4O3,OOt
600 drawn from the treasury in go
since January ] 1879, the date fixed
1875 for the retirement OF the Unite
States notes.
Nearly 1927 100000 of the gold thu
withdrawn has been paid out on the
United States notes, and yet eve
one of the 1864 100000
Is STILL UNCANCELED
and ready to do service in future go
depletions.
More than S76,OOO,OOO in gold b
since their creation in 1890 been pa
out from the treasury upon the not
given on the purchase of silver by t
governments; and yet the who
amounting to $155, 100000, except
tie more than $16,OOO,OOO, which ha
been retired by exchanges for silv
ut the request of the holders, RENAL
outstanding and prepared to join th'
older and more experienced allies
future raids upon the treasury's gt
reserve.
In other words, the government b
paid in gold more than nine-tenths
its United States notes and
STILL OWES THEM ALL.
1t has paid in gold about one-half
its notes given for silver purchs
without extinguishing by such ps
ment one dollar of these notes. VIII
added to all this we are reminded ii
To carry on all this astounding hns
cial scheme the government has inc
red bonded indebtedness of 500,
600 in establishing a gold reserve, q
of S162,3l5, 400 in efforts to maintain
that the annual interest charged
such bonded indebtedness is
MORE THAN $11 ,OOO,OOO;
that continuance in our pres
N
issues, and that we have suffered or
threatened with all this for the sake
supplying gold for foreign shipm
or facilitating its boarding at hOm
situation is exhibited which certai
ought to arrest attention and prov
immediate legislative relief. =.
| am convinced that the only tn
ough and practicable remedy for
troubles il found in the
RETIREMENT AND CANCELLATION
nf our ITuitsd Statoa nOtas comma