The Prince George's enquirer and southern Maryland advertiser. (Upper Marlborough, Md.) 1882-1925, 1895-12-06
THE PRESIDENTS MESSAGE.

rress is a plain, matter-of- fact, but vigor
Gus presentation of the important ques-
tions upon which Congress will be called
to act 1t gives an elaborate presentation
of our relations with all foreign govern
ments, and the public will be interested in
what he SAYS about the instruction inCuba
the atrocities in Turkey, the Venezuela dis
pute and other important international
questions The President is very emphatic
in his expressions relating to the murder
Gus outrages perpetrated upon the Armen-
ians in Turkey, but the tone Of his discus
sion of the Cuba question is in accord with
a severe Interpretation of international OBJ
1igations rather than with the unmiStak-
able sympathies of the American people.
A single para graph of the measure reit-
terates President Cleveiands views as to
the general tariff policy of the country,
clearly indicating that he has taken no
steps backward on the vital issue of tariff
reform and the equalization of taxes. In
his discussion of the financial situation he
shows conclusively that mere increase OF
revenue cannot restore the financial equil-
ibrum and public confidence at home and
abroad While revenue legislation is i'm
portant in view of the depleted condition
of the Treasury, it is evident from the
statements given by the President that tar
if revision on the lines OF increased pro-
lection would not meet with favor, for
the reason that such enactmcnts would
increase taxation upon consumers without
adding materially to the revenues.
The President presents the financial sit
uation from IA standpoint that has not been
generally accepted by the political leaders
who now control Congressional action.
He gives the strongest arguments to show
that the necessities for increased revenue
are chiefly or wholly distinct from the
question of maintaining our public credit.
While the national credit could not he up
held without adequate revenues it will
hardly be disputed by intelligent and dis
passionate citizens who carefully study the
reasons given by the President, that in
creased rev enues alone will not put the
country upon a stable financial basis
There are, therefore, as he presents it, two
distinct and vital propositions for Con-
gressional action. One is the supply of
needed revenue, and the other is the adop-
ton of financial policy that will end the
power of spectators over national credit.
Doubtless Congress will propose to provide
increased revenues to some extent by
changes in the tariff laws, and, so far as
the question of increased revenue shall be
the chief aim of such legislation, it should,
and doubtless would, command the appro-
val of the President.
All citizens of every political faith, and
every student of our schools, should care
fully read and study President Cleveland
plain, ghtforward, honest and earnest
presentation of the financial condition of
the country He shows how and why our
financial troubles come upon us. Unwise
as was most of the legislation that pro-
duced these multiplied misfortunes, most
of it seemed to be reasonable necessity
to changed conditions as to wrong con-
captions. We have reached the point when
there must be something more than mere
patchwork legislation to put this great ma
ton on "A broad and enduring financial ba-
sis that will command unlimited credit at
home and abroad, and upon this Congress
will devolve the grave duty of solving this
problem.
The madness of the government assum-
ing the position OF the supreme banker of
the country, and thus making its credit de-
pend upon its ability to give immediate re-
demption in gold for the various notes is
sued in its name, is so clearly presented by
President Cleveland that only those who
will not see the truth, or who lack intelli
gence to comprehend it, can dispute the
resistless logic of his arguments. The facts
that we have already redeemed nearly or
quite all of our Treasury notes in gold since
the redemption of specie payments, and
vet have them all on hand for future re-
demption, and that even one-half of our
silver certificates have already been re-
deemed in gold without lessening to the
extent of one dollar the obligations of the
government to pay out gold, prove conclu-
sively that the government must retire its
circulation and transfer it to the legitimate
banking channels of the country.
The President is entirely sound on the
question of providing a longtime and low
interest bond to meet ali future emergen-
cies of the Treasury and for the redemp-
ton of our currency. He wisely proposes
that there shall be no diminution of our
circulating medium. The bonds used for
retiring our currency could be made avail
able for banking, and by allowing national
banks to issue notes to the full par value
of their bonds, and reducing the tax on
circulation to the minimum of the cost of
furnishing the notes, every encouragement
would be given for the extension of our
banking system into every section of the
country. Thus there could be no financial
CONFUSION whatever by the retirement of
our government currency on the basis pro-
posed by the President, and if his policy
were adopted, the whole question of Wall
street financiers gambling in the credit of
the government would be settled and set
tied forever. Politicians will bubble and
cheap money freaks will howl over the
Presidents stern devotion to an honest cur
rencv for the maintenance of public and
private credit, but honest and patriotic peo-
pie of every political faith must heartily
commend him for his heroic stand in ia
vOr of financial and business prospcrity.-
phila dol nhia Times