Cherry County independent. (Valentine, Cherry Co., Neb.) 18??-1896, 1895-12-05

sions No efforts have been spared in
their behalf and their protection in per-
son and property has been earnestly ana
vigorously enforced by every means with
in our power. 1 regret, however. that an
attempt on our part to obtain better in
formation concerning the true condition
of affairs in the disturbed quarters of the
Ottoman empire by sending thither the
United States consul at Sivas to make
investigation and report was thwarted by
the objections of the Turkish government.
This movement on our part was in no
sense meant as gratuitous entangle-
ment of the United States in the so called
eastern question, nor as an off1cious in
reference with the right and duty which
pean powers, calling for their interven-
tion in political matters affecting the
good government and religious freedom
of the n-Mussulman subjects of the
sultan, but it arose solely from our desire
to have an accurate knowledge of the
conditions in our efforts to care for those
entitled to our protection.
The presence of our naval vessels,
which are now in the vicinity Of the dis
turbed localities, affords opportunities to
acquire a measure of familiarity with the
condition Of affairs, and will enable US
to take suitable steps for the protection
of an interest Of our countrymen within
reach of our ships that might be found
imperiled.
Inc ottoman government mas lately
issued an imperial TRADE, exempting for
ever from taxation an American college
for girls at Scutari. Repeated assurances
have also been obtained by our envoy at
maintained and administered by our
countrymen shall be secured in the en-
ioyment Of all rights and that our citi-
zens throughout the empire shall be pro-
tected.
The government, however, in view Of
existing facts, is far from relying upon
such assurances as the limit of its duty.
In affording all possible protection in in
dividual cases where danger threatened
or the safety Of our missionaries was i'm
periled; We have sent ships as far toward =; q
refuge to those obliged to flee, and we
have the promise Of other powers which
citizens as well as theirs will be received
and protected on board their ships. On
the demand OF our minister orders have
been issued by the sultan that Turkish
soldiers shall guard and escort to the
coast American refugees.
These orders have been carried out, and
our latest intelligence gives assurance OF
and missionaries. Though thus far no
lives Of American citizens have been sac
rif1ced, there can be no doubt but that
serious loss and destruction of mission
property have resulted from riotous con-
dicts and outrageous attacks.
The Financial Problem.
AS we turn from review of odr foreign
relations to the contemplation Of our ma
tionaI financial situation we are immedi-
ately aware that we approach a subject OF
domestic concern more important than
any other that can engage our attention,
and one at present in such a 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
aroused and intelligent interest in these
subjects.
By command of the people a customs
revenue system designed for the protec-
tion and benefit of favored classes at the
men, and which, while inefficient for the
purpose Of revenue, curtailed our trade re-
lations and impeded cur 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 revenues to
our peoples cheap living or lessen their
comfort and contentment for the sake of
according especial advantages to favor
ties. and which, while encouraging our in
tercourse and trade with other nations,
lance, thrift and ingenuity can build up
our country's industries and develop its
resources more surely than eneryating pa
ternaiism.
The compulsory purchase and coinage of
silver by the government, unchecked and
by business conditions, and
more than fifteen years diluted our cfrcu-
]ating medium, undermined confidence
abroad in our financial ability and at last
il distress and panic at home,
H,,tI ctr I,Iyf q n
the laws which forced this reckless
scheme upon the country. The things thus
accomplished notwithstanding their ex-
trene Importance and benehcent enectS,
fail far short of curing the monetary evils
from which we suffer as a result of long
indulgence in i'll advised financial eX-
pedientS.
The currency denominated United States
notes, and commonly known as green
backs, was issued in large volumes during
the late civil war and was intended origin
ally to meet the eXigencies of that period.
1t will be seen by reference
TO the debates in congress at the
time the laws We're passed author,
that their advocates declared they were
for only temporary use, and to
meet the emergency Of war. In almost, If
lot all, the laws relating to them some
provision was made contemplating their |
voluntary or compulsory retirement. A |
arge quantity cf them, however, were |
1ept on foot and mingled with the cur |
,ency of the country, so that at the close !
IF the year 1874 they amounted to $751; |
,99 O73 Immediately after that date, and |
n Jaunary, 1875, a law was passed provid- |
ng for the resumption of specie pay
nents, by which the secretary Of the |
reasury was required, whenever addi- |
.ional circulation was issued to national |
Danks. to retire United States notes equal |
n amount to so per cent. of such addi-
ional national bank circulation until |
,uch notes were reduced to $300, GOO 900.
This law further provided that on and |
Il 10
United States notes then outstanding
should be redeemed in coin, and in order
o provide ard prepare for such radernp-
ion the secretary Of the treasury was
authorized not only to use any surplus
.eyenues of the government. but to is
ue bonds of the United States and dis
,ose of them for coin, and to use the pro-
eeds for the purposes contemplated by
he statute.
.npointed for the redemption and retire
nent of these notes, another statute was
lassed forbidding their further cancella-
IoWever been previously redeemed and
ancelled upon the issue of additional ma
ional bank circulation, as permitted by
he law of 1875, SO that the amount out
tanding at the time of the passage OF
ne act forbidding their further retire
nent was $341, ,6S1. .016. The law Of 1873 did
Iot stop at distinct prohibition, but con-
aimed. in addition. the following express
PROVISION: AnC when any of said notes
nay De redeemed or be received into the
reasury under any law. from any source
Whatever, and shall belong to the United
'tates, they shall not be retired. cam
ny