The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-12-03

remonstrance and a claim for indem-
nifty. which Hawaii has not thus far
The President then refers to the bound
arv. dispute between Mexico and Gllate-
Nicara qua, after which he speaks of
the Cuban troubles. He says
Whatever may be the traditional sym
pathy of our countrynlen as individuals
with people who Seem 70 be struggling
for larger autonomy and greater free
dom, deepened as such sympathy natur-
yet the plain duty of their government IS
TO observe in good faith the recognized
obligations of international relationship:
The performance of this duty should not
be made more difficult by a disregard on
the part of our citizens Of the obligations
growing out of their allegiance to their
country which should restrain them
from violating as individuals the nell
trality which the nation of which they
relations to friendly sovereign states.
Though neither the warmth of our peoples S
sympathy with the Cuban insurgents,
nor our loss and material damage conse-
quent upon the futile endeavors thus far
made to restore peace and order, nor any
shock our human sensibilities may have
received from the cruelties which appear
to especially characterize this san
culinary and fiercely conducted war, have
in the least shaken the determination OF
the government to honestly fulfill every
international obligation, yet it's to be
earnestly hoped on every ground, that
the devastation of armed conflict may
restored to the distracted island, bring
ing in their train the activity and thrift
of peaceful pursuits
In connection with the troubles IN Tur-
key. the President Says:-
THE presence of our naval vessels,
which are now in the vicinity OF the
disturbed localities, affords opportunities
to acquire measure. of familiarity with
the condition of affairs and will enable
US to take suitable steps for the protec-
tion of any interests of our countrymen
! writ in nph nf Olir
found imperilled.
1.-THE Ottoman Government has lately
issued an imperial Trade exempting for
ever from taxation an American college
for girls at Scutari. Repeated assur-
ances have also been obtained by our
envoy at ConStantinople that similar in
stitutions maintained and administered
by our countrymen shall be secured in
the enjoyment of all rights, and that
| our citizens throughout the Empire shah
be protected
1.-THE Government, however, in view of
existing facts, is far from relying upon
such assurances as the limit of its duty
Our Minister has been yigilant and alert
in affording all possible protection in
individual cases. where danger threatened
or safety was imperiAed. We have sent
ships as far towards the points of actual
disturbance as it is possible for them to
go, where they offer refuge to those
Obliged to flee, and we have the promise
Of other powers which have ships in the
neighbor'hood that our citizens, as Well
as fheirs,~will be received and protected
on board those ships. On the demand of
our Minister, orders have been issued
guard and escort to the coast American
refugees. These orders have been car
ried out, and our latest intelligence gives
assurance of the present persona, ,,Ss salesy
of our citizens and missionaries. Though
thus far no lives of American citizens
have been sacrificed
After dealing with American foreign
relations, the message says
LAS we turn from a review of our
foreign relations to the contemplation or
our national financial situation we are
Immediately aware that we approach a
subject of domestic concern more I'M
portant than any other that can engage
our attention, and one at present IN sucn
a perplexing and delicate predicament as
to require prompt and wise treatment
1--WE may well be encouraged to earneSt
effort in this direction when we recall
ing our economic and financial situa atlon,
and when we appreciate how well the
way has been prepared for further pro-
gress by an aroused and intelligent pop
ular interest III these subjects.
by command of the people customs
revenue system, designated for the pro.
lection and benefit of favored classes at
the expense of the great mass of our
countryfnen, and which. while inefficient
trade relations and impeded 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 Government to obstruct the
avenues to our peoples cheap living, or
lessen their comfort and contentment,
for the sake of according special adyan-
tages to favorites, and which, while en-
couraging our intercourse and trade with
other nations recognizes the fact. that
American self-relance, thrift and in
genuity can build UP our country's in
dustries and develop its resources more
surely than enervating paternalsm:
"The compulsory purchase and coinage
of silver by the Government unchecked
and unregulated by business conditions
Which and for more re- tRan een years d.
luted our circulating medium, under
mined confidence abroad in our financial
ability, and at last eliminated in dis
tress and panic at home. has been re-
Gently stopped by the repeal of the laws
which forced this reckless scheme upon
the country.
The President reviews the different
financial laws that have been passed
and exhaustively treats of the present
'aThe foregoing statement of events
and conditions develops the fact that
after increasing our interest-bea ring g
600 to save our gold reserve we are near
" where we & stagted c having now az IN ,ss such s1
reserve So SsS 9a sss as against an e sS0 fss,sd
We're issued.''
Continuing he says
and practicable remedy for our troubles
is found in the retirement and cancella-
Estion of ,1a or United States d,a notes. com com
standing Treasury notes issued by the
Government in payment of silver pur-
chases under the act Of 1890.
accomplished by the exchange of those
notes for United States bonds of small
as we'll as large denominations, bearing
a low rate of interest. They should be
long term bonds, thus increasing their
their payment could be we'll postponed to
a period far removed from present finan-
cial burdens and perplexities, wnen with
increased prosperity and resources they
would be more easily met.
ITO further insure the cancellation
by which gold may be added to our cur
rency in lieu of them, a feature in the
plan should be an authority given to
the Secretary Of the Treasury @ ra 70 @ dispose as
sarv to complete the contemplated re-
! damption and canceila uon, permitting
| him to use the proceeds of such bonds
to take up and cancel any of the notes
may be received by the Government on
any account.
1.-THE increase of our bonded debt in
! vowed in this plan would be amply com
| pensated by renewed activity and enter
| prise in all business circles. the restored
/ confidence at home, the reinstated faith
| in our. monetary strength abroad, and
! the stimulation of every interest and
| lafion of the gold demand obligations
now affecting US.
| s.Tne currency withdrawn by the re-
/ tirement of the United States notes and
less that $4S6. 600 o00o. might be supplied
| by such god as would be used on their
| retirement or by an increase in the
circulation of national banks"
banks should be allowed to issue circula-
ffon e0Ilal to the par value of the bonds