The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1895-12-14

onstrated in the text of the message.
None will gainsay that what the
President says concerning Cuban at.
fairs is proper. His iBtimation that
international laws must be main
tanned until the insurgents shall have
established their belligerent rights
is assuredly correct, while his state
ment that the government has in
formed England that she will not be
permitted to extend her territorial |
limits in this country will arouse the
plaudits of all who find in the Presi-
dent stern and Incorporating
defender of the Monroe doctrine.
In his financial recommendations
Mr.. Cleveland still proves faithful to
his sound money ideas. The ques-
tion is paramount. 1t rises above
every other in the message, because
it means so much to the people, both
wage-earner and capitalist Happily
the President lays before Congress
scheme, which, it is believed, will
meet every emergency. He recon-
mends the permanent retirement of
the greenback debt, not only to stop
the drain of gold from the country,
but to do away with the necessity for
the maintainanee of an enormous
treasury metallic reserve. Referring
to this part of the message the Phil
adelphia Record observes: "In re-
viewing the history of the legislation
from the beginning to the stoppage
of the redemption of the greenback
currency in 1879 he describes with
much force the mischiefs arising
from the maintenance of this policy.
The Government is put in the
strangely anomalous position, for
which there is no example in the
financial legislation of any other
country, of owing the holders of its
notes debts payable in gold which
can neither be retired by receiving
such notes in discharge of obliga-
tions due the Government nor can
celed by actual payment in gold. AS
the President tersely puts the case,
the Government sis forced to redeem
without redemption, and to pay
without acquittance.' "
Mr.. Cleveland's views on silver
will antagonize the shriekers for the
white metal in Congress and else
where, but they will meet the hearty
approval of all who know what terri
BILE conditions would follow in the
wake of silver deluge, conditions
that would plunge the land into one
of the most calamitous financial
struggles that was ever experienced.
Mr.. Cleveland rises to the demand
in his discussion of the silver ques-
ton and the majority will indorse
his views. He has no faith in the
policy of maintaining the greenback
currency and increasing the revenues
in order to prevent the drain of gold.
He says, and supplies the proof to
back the statement, that nothing
can be further from the truth than
the frequent assertion that the bonds
issued ostensibly to replenish the
gold reserve were really issued to re-
plenish a weak revenue. 1t was nee
essary to issue bonds to maintain the
national credit. At the time of each
bond issue there was "a safe surplus
in the Treasury for ordinary opera
tions," exclusive of the gold reserve.
In this Mr.. Cleveland announces his
antagonism to the restoration of Ger
tain protective duties for the alleged
purpose of keeping the treasury's
vaults full of gold. AS the Philadel-
phia Record says concerning this
part of the message: His opposition
to such plan of relief is to be wit
messed in the whole tenor of his mes.
sage. In order that large revenues
and abundant receipts might favor
ably affect the finances by retaining
the greenbacks in the treasury, and
thus preventing their presentation
for gold, such policy, he says,
ought to be permanent and Mr..
Cleveland points out that permanent
cy is out of the question, since the
law requires that these notes, when
received, shall be paid out again and
kept in circulation. Besides, it could
not be expected of him to favor the
accumulation of currency in the
Treasury by an increase of taxation.
Such a policy he denounces as ian
evil' which could not proceed far
without provoking vigorous protest
against an unjustifiable withdrawal
of large volume of currency from
the business of the country"
Altogether the message is one that
will meet the hearty approval Of the
right thinking people of the country,
and they, happily, make up the great
majority.
1t is not out of place to quote the
opinions Of certain newspapers of
high reputation on the message;