The Caucasian. (Clinton, N.C.) 188?-1913, 1895-12-12
THE pKEsIDENr's MESSAGE.

THE PKEsIDEST's MESSAGE.
"rbe government has paid in gold more
than nine enths Of its nited states notes |
and still owes them all.
The annual interest charged on such |
bonded Indebtedness is more than Sll,Vo- |
90"
'In the path We now follow turks the
menace Of unending bonds. |
''lf we shall tie relieved from maintaining
gold reservation, &c
IF our treasury should no longer be the
foolish puryeyor OF gold Tor natiohs
abroad"
I'VE are financially i'll
"In our present prsdicament,'
Private holders OF gold, unlike the gov
eminent, having no party To maintain,
could not be restrained from making The
best bargain possible when they furnished
gold TO the treasury
''rhe general state Of our funds exclusive
of gold, was entirely immnterial to the Tor
ei,,n creditor and Investor
THE dsOrdercd condition OF our curren-
'Present dangers menacing our prospect
ty.'
The above sentences and phrases
are found in the Presidents message
to Congress. Whatever else may be
said about them, it can be asserted
that they constitute an unqualified
and unlimited condemnation of our
present system OF finance. They arc
not seized upon and presented in
81.
pose Of distortino and vitiat-
ing the meaning of the message in
full, for they may DO looked out and
read in their full connection and yet
be found to convey the same mean
ing that appears to attach to them
as they arc presented above.
We do think it necessary to make
very lengthy effort to illustrate
the Inconsistencies that appear in
this marvellous document. We shall
present n few and leave its general
character to the analysis of those
who read it.
SO sweeping deuuncIation of a
system as is contained in the above
utterances would naturally lead one
to think that the head of the nation
would, at least, have attempted to
propose some plan for reforming it.
But he who looks for such u thing
in the message will look in vain.
Some change in detail is suggested,
but the President makes q strong
plea for the continuation of the
principle Of the present system
which has made us Financially lip
which makes US ''the foolish purvey
or of gold for nations abroad
which constitutes the menace OF
unendiug bonds"-w which has brought
about the ''present dangers menac
ing our prosperity'-which has pu
us "in our present predicam ent,
&c., &o. How man possessing al
honest intelligence could make thes,
broad admissions and then plead FOL
the continuance of the system which
brought about the conditions men
toned passes our understanding.
The message is n plea for the in
terests of gold spectators, bond
holders and banks, and special stres
is laid on the claims of foreign inres
tors. The interests of home AM
country have no place in this pom
derous emanatiOn of a bond-syndl
cate manipulation. The Presiden
goes out of his way in an effo.t t,
magnify and boost the gold stan dare
idea. For instance he vouchsa fe
the information that cit IS state,
that the resumption of specie (gold
payment by Chile is a step of grea
Importance but in connection witt
this piece of immensely valuable in
formation he reglects TO state tina
the national administration Of Chill
borrowed ten millions of dollar
from the Rosthchilds in the earl
part of the present year, and tina
the said loan was conditioned on tn
issue of gold bonds to that amount
Further on the President ad init
his ledge of tho existence of
wide silver sentiment among his fel
low citizens, but he does not 60 on
of his way to make mention of an
important STEP in silver usin
countries. 1t occurs to us that tn
President of people should nc
make mention of any matter in a
attempt to encourage the ssntimen
of u minor portion Of people, an
fail TO take some account of fact
which would encourage the sent
meut of the major part. If it wa
permissible and necessary to mer
tim gold standard Chile in the me.
sag, why was it not equally pei
misslble and necessary to mentio
silver Mcx.coi
We arn unable to reconcile tn
Presidents recommendation for r,
firing the green bac ks with his recon
mendation for issuing more bond
A reason given for retiring tn
greenbacks is that they can be use
to depIete the gold reserre at an
time. But it has not been long sine
considerable amount of bono
were reder med before they expired
and a nreminm maid for them hv fh