Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-12-03

| coming.
am thoroughly convinced that in addl-
| ton to their salaries our ambassadors and
| ministers at foreign courts should be pro-
vided by the Government with official resi-
| dences. The salaries of these officers are
comparatively small and in most cases in
sufficient to pay, with other necessary ex-
penses, the cost of maintaining household
| establishments in keeping with their i'm
portant and delicate functions. The use
fulness Of a nations diplomatic represen-
| tative undeniably depends much upon the
| appropriateness of his surroundings, and q
! country like ours, while avoiding unneces-
| sary glitter and show, should be certain
| that it does not suffer in it's relations with
| foreign nations through parsimony and
| shabbiness in its diplomatic outfit. These
considerations and the other advantages Of
| having fixed and somewhat permanent To-
cations for our embassies, would abund-
| aLtly justify the moderate expenditure nee
| essary to carry out this suggestion.
The National Finances.
AS we turn from a review of our foreign
| relations to the contemplation of our ma
tional financial situation we are imme-
| diately aware that we approach subject
| of domestic concern more important than
any other that can engage our attention
| and one al present in such perplexing and
delicate predicament as to require prompt
and wise treatment.
We may well be encouraged to earnest
effort in this direction when we recall the
steps already taken toward improving our
economic and financial situation, and when
we appreciate how well the way has been
prepared for further progress by an arous-
ed and intelligent popular interest in these
subjects.
By command of the people a customs
| revenue system, designed for the protec-
| ton and benefit of favored classes at the
expense of the great mass of our country
men, and which, while inefficient for the
| purpose of revenue, curtailed our trade re-
lations 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markets of the world, has been superseded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 COM
| fort and contentment, for the sake of accord
ing especial advantages to favorites, and
| which, while encouraging our intercourse
and trade with other nations, recognizes
the fact that American self-reliance, thrift
| and ingenuity can build up our country's
industries and develop it's resources more
surely than enervating paternalsm.
silver by the government, unchecked and
unregulated by business conditions and
| needless of our currency needs, which for
more than fifteen years diluted our circu-
lating medium, undermined confidence
abroad in our financial ability, and at last
eliminated in distress and panic at home,
has been recently stopped by the repeal of
| the laws which forced this reckless SC heme
upon the country.
The things thus accomplished, notwith-
standing their extreme Importance and
beneficent effects, fall far short of curing
the monetary evils from which we suffer as
| a result of long indulgence in ill-advised
financial expedients.
The currency denominated United States
notes and commonly known as greenbacks
! was issued in large volume during the late
civil war, and was intended originally to
meet the exigencies of that period. 1t will
be seen by reference to the debates in
Congress at the time the laws were passed
authorizing the issue of these notes that
their advocates declared they were intended
for only temporary use and to meet the
emergency of war. In almost il not all the
laws relating to them some provision was
made contemplating their voluntary or
compulsory retirement. large quantity
of them. however, were kept on foot and
| mingled with the currency of the country,
| so that al the close of the year 1874 they
amounted to 1881, 999,O73.
Immediately after that date, and in jan
uary, 1873, law was passed providing for
the resumption of specie payments, by
which the Secretary of the Treasury was
required. whenever additional circulation
was issued to national banks, to retire
United States notes equal in amount to so
per cent of such additional national-bank
circulation until such notes were reduced to
3OO,OOO,OOO This law further provided that
on and after the LIST day Of January, 1872
the United States notes then outstanding
should be redeemed in coin, and in order to
| provide and prepare for such redemption
the Secretary of the Treasury was author
lied not only to use any surplus revenues
of the government. but to issue bonds of
the United States and dispose of them for
| coin. and to use the proceeds for the pur-
poses contemplated by the statute.
In May, 1873 and before the date thus
appointed for the redemption and retire.
ment of these notes, another statute was
passed forbidding their further cancella-
| ton and retirement. Some of them had,
however, been previously redeemed and
| Cancelled upon the issue of additional ma
| tional-bank circulation, as permitted by the
| law of 1915, SO that the amount outstand-
| Ing at the time of the passage of the act
| forbidding their further retirement was
S346 1881 ,O16.
| The law of 1878 did not stop at distinct
! prohibition, but contained, in addition, the
| following express provision:
And when any of said notes may be ie-
| deemed or be received into the Treasury,
| under any law, from any source whatever.
| and shall belong to the United States they
shall not be retired, Cancelled or destroyed,
| but they shall be reissued and paid out
| again and kept in circulation"
| This was the condition of affairs on the
1st day of January, 1879, which had been
| fixed upon four years before as the date
| for entering upon the redemption and re-
| tirement of all these notes, and for which
| such abundant means had been provided.
The Government was put in the anoma-
! lous situation of owing to the holders of its
| notes, debts payable in gold on demand
| which could neither be retired by receiving
| such notes in discharge of obligations due
| the Government, Eor Cancelled by actual
| payment in gold. 1t was forced to redeem