Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1895-12-12
THE MESSAGE.

President Cleveland $ message to congress
deals with two subjects foreign relations
I and local financial conditions. He says: The
1 present assemblage of the Legislative branch
/ Of our government occurs at time when the
| interests of our people and the needs of the
/ dition OF our foreign relations and the ext
! gencies of our national finances. 1 there
fore deem II my executive duty adequately
performed at this time by presenting to con-
/ gress the important phases of our situation
as related 20 our intercourse with foreign
nations and statement of the financial prob
lens which confront us -
The president notes that the cordial rela-
/ tions with France have been undisturbed
| with the exception of a full explanation of
the treatment of John L. Waller formerly
United States consul at TAM ava. Madagas-
car which remains TO be explained. The
record of the court proceedings and charges
have been procured but the evidence is still
missing. Meanwhile it appears Mr.. Waller
confinement was not onerOus.
The presiden6 recommends the acceptance
of the French invitation to participate in the
Paris exposition of 1900 and especially com
mends the recent resolution OF the French
chambers favOring permanent treaty of
arbitration between the countries. In ref
erenee to Venezuela, the president main
tains the Monroe doctrine in opposing fore
ible increase by any European power of its
territorial power on this continent and sug
gests that Great Britain submit its claims to
arbitration. The President touches briefly
on the Hawaiian question, ending by saying
Mr.. Thurston, the Hawaiian minister, fur
nished abundant reasons for asking that he
be recalled. change in the alien laws is
suggested which win check the viceroy sys-
tenn which at present overcomes the fmini-
grafton and contract labor laws. The presi-
dent has no suggestions in the Nicaraguan
case, but expects peaceful settlement with
such consideration and Indulgence toward
Nicaragua as are consistent The president
asks legislation to break the treaty or agree
ment by which this country is Jointly bound
with England and Germany to assume man
agement in Samoa.
Special attention is called to the situation
in Cuba and the strict neutrality of this gov
eminent is advised. despite the sentimental
sympathy and adventurous support aroused
in Americans By stories of cruelty and the
natural love of liberty. Military arrests of
American citizens. the rights of the Ameri-
can consular officers 10 protect property and
the Alliance incident have been recognized
and explained.
Occurrences in Turkey excite concern but
information Is hard 70 obtain But our con-
SUI at Silvas has been instructed to inyesti-
gate.
The compulsory purchase and coming Of
silver by the government. unchecked and
regulated by business conditions and heed
less OF our currency needs. which for more
than fifteen years diluted our circulating
medium. undermined confidence abroad I'M
our financial ability and at last eliminated
in distress and panic at home. has been re-
Gently stopped by the repeal Of the laws
which forced this reckless scheme upon the
country. The things thus accomplished not
withstanding their extreme Importance and /
benefcent effects, fall far shortof curing the |
monetary evils from which we suffer as a re-
suit of long Indulgence in ill-advised finan- |
~ial expedients.
Af+t explaining the resumption OF specie
VIM IT'S and the creation of the reserve |
4. nd of Sl0000000. the president gave a |
brief monetary history of the United States |
and asks for immediate Legislation for relief. |
He recommends that greenbacks and treas
ury notes should be retired by exchanging |
the bonds with small denominations. The |
secretary of the treasury should be empow- |
cred to sell bonds abroad for gold in order to /
cancel these notes. The amount of currency
thus withdrawn would not be over $3.50. 600 900. |
which would be supplied bv gold. The pres
ident suggests that as a relief to circulation
that banks be allowed to issue notes to the
full amount of bonds deposited and the tax
on their circulation reduced TO one-fourth af /
one per cent. As a further relief il is sng-
gested that revenue collections be made paw
able in gold Not to pay out United States
and treasury notes on demand and to insist
on paving in silver notes. the president de-
clareS would iniure the parity between gold
and silver, which the government is bound
70 maintain. An excess of revenue receipts /
would not alter the question of national SOL I
vency. as in the struggle to maintain a gold !
reserve the treasury could not nav debts /
with money 1t had. but only with gold and
that TO the foreign investor. As the with
drawal of gold is a direct result of fright.
there Is nothing to alleviate the situation so
much as legislation which viii lessen the de-
sire for gold. Ii Is not clear how an increase |
IN revenue unless it be in gold can Sc tisfy
those whose only desire is to draw gold from
the government store. Therefore a revenue
increase is deprecated
Speaking of the proposition to relieve the
financial situation by the free coinage of sill
yer at the ratio of Is to ! the president de-
clares no government. no human contriv-
ance, no act of legislation has ever been able
to hold the two metals together in free coin
age at ratio Of appreciable difference from
that which is established in the markets of
the world. change in the standard TO sill
yer recommendation would bring collapse to
our entire credit system.