The Yale expositor., 1895-12-13

These orders have been carried out, and
the present personal safety of our citizens
and missionaries. Though thus far no
lives or American citizens have been sac
rihced, there can be no doubt that serious
loss ana destruction of mission property
have resulted from riotous conflicts and
outrageous attacks. BY treaty several of
the most powerful European powers have
secured a right and have assumed a duty
not only In behalf OF their own citizens
ana 1urtherance or their own interests,
but as agents OF the Christian world.
Iheir right TO enforce such conduct OF
Turkish government as will restrain fana-
teal brutality, and IL this fails, their duty
Is 10 50 interfere as TO insure against such
ureaulul occurrences in Turkey as have
lately shocked civilization. The powers
declare this right and this duty to be
thelrs alone, and IL is earnestly hoped that
prtonInpt pro- ana eneetive action on their part
In view OF the growth of our interests
IN foreign countries and the encouraging
Ppospects TOT general expansion OF our
commerce, the question OF an improve
neht IN the consular service has increased
IN Importance and urgency. Though there
Is no doubt that the great body of con-
sular ofhcerS are rendering valuable SER
vices TO the trade and industries of the
country, the needs of some plan OF ap-
pointment and control which would tend
10 secure higher average of efficiency
cannot be denied. The Importance OF the
subject has led the executive to consider
what steps might properly be taken with
need of q better system Of consular APP
pointments. This matter having been
committed to the consideration OF the
secretary of state, in pursuance of his
recommendations an executive order was
issued on the Goth of September 1895 by
the terms of which 1t is provided that
a1ter that date any vacancy in consulate
or commercial agency with an annual
salary or compensation from official fees
or not more than $500 or less than s., 600,
should be filled either by transfer or pro-
atl
the department of state OF character
tending 10 qualify the incumbent for the
position TO be filled, or by the appoint
ment or person not under the depart
ment OF state, but having previously
served hereunder and shown his capacity
ana htness for consular duty, or by the
appointment of person who, having been
selected by the President and sent to a
board for examination, is found, upon
such examination. to be qualified for the
position. These efforts to improve the
consular service ought to be Immediately
supplemented by legislation providing for
consular inspection. This has frequently
been subject OF executive recommended
ton, and 1 again urge such action by
congress as will permit the frequent and
thorough inspection of consulates by
officers appointed for that purpose already
In the diplomatic or consular service. I
am thoroughly convinced that In addition
to their salaries our ambassadors and
ministers at foreign courts should be pro-
Vided by the government with official
residences The salaries OF these officers
are comparatively small and in most
cases, insufficient TO pay, with other
necessary expenses, the cost OF maintain
ing household establishments in Keeping
tons.
OUR FINANCIAL SITUATION.
As we turn from a view OF our foreign
Ielauons 10 the contemplation OF our
Hatiohal financial situation, we are inn
mediately aware that we approach a sub
Ject or domestic concern more important
than any other that can engage our at
tehtlon, ana at present in such a perplex-
ing and delicate predicament as to reduIre
prompt ana wise treatment. We may well
pe De encouraged TO earnest effort in this
direction when we recall the steps already
taken toward improving our economic and
nnancial situation, and we appreciate how
Wen the way has been prepared for
further progress by an aroused and INTEL
ligent popular interest in these subiects
BY command of the people a customs
revenue system, designed for the protoc-
ton and benefit Of favored classes at the
expense OF the great mass of our country
men, ana which, while inefficient for the
purpose or revenue, curtailed our trade
relations and impeded our entrance to
Ihe markets or the world. has been SUPER
seded by tariff policy which in princfple
Is based upon denial of the right of the
government 10 obstruct the avenues TO
our peoples cheap living or lessen their
comfort and contentment ror the sake Of
according especial advantages to fayor-
ites, ana which while encouraging our
..os..s &c anu trdue Win other nations,
recognizes the fact that American self
renance, thrift and ingenuity can build
up our country's industries and develon
paternalism. s
The compulsory purchase and coinage OF
silver by the government, unchecked and
uhregulated by business conditions and
needless OF our currency needs. which for
more than fifteen years diluted our cir
culating medium, undermined confidence
abroad In our financial ability, and at last
culmlnated in distress and panic at home
has been recently stopped by the reneai
or the laws which forced this reckless
scheme upon the country. The things
SiIus nv aeco1npnshed, Notwithstanding their
eSIreme Importance and beneficent effects.
IaIl 1ar snort OF curing the monetary evils
from which we suffer as a result OF long
n,'t Indulgence IN lll-advised financial expedi-
ents. The currency, denominated United
states notes and commonly known as
greenbacks. was issued in large volume
ttuiling the late civil war, and was i'm
tehueu originally TO meet the exigencies
OF that period. IL will be seen by a refer
ence 10 the debates in congress at the
tiine the laws were passed authorizing
the issue of these notes that their advo.
Gates declared they were intended only
Tor temporary use and TO meet the emer-
sency OF war: in almost IL not all the
laws relating to them, some provision was
made contemplating their voluntary or
compulsory retirement. A large quantity
or them, however, were kept on foot and
mingled with the currency of the counfrv
so that at the close of the year 1874 thew
amounted to s3S1, ,999, ,O73. Immediatelv az
ter that date, and in January, 1875 q law
was passed providing for the RESUMPTION
or specie payments, by which the secre-
tary or the treasury was required when-
ever an additional circulation was issued
TO national banks to retire United States
notes equal in amount to 80 per cent of
such additional national bank circulation
until such notes were reduced to $500 0Oo-
OOO. This law further provided that on
and after the first day of January. 1879.
the United states notes then outstanding
should be redeemed in coin, and in order
TO provide and prepare for such redemp-
ton the secretary of the treasury was
authorized not only to use any surplus
revenues OF the government but TO issue
bonds OF the United States and dispose
OF them for coin. and to use the proceeds
for the purposes contemplated by the
statute. In May 1878, and before the date
thus appointed for the redemption and
retirement of these notes. another statute
was passed forbidding their further can
collation. and retirement.
This was the condition Of affairs on the
LIST day Of January, 1879. which had been
fixed upon four years before as the date
for entering upon the redemption and re-
tirement of all these notes and for which
such abundant means had been provided
There had been issued and sold sos. 800 600
of the bonds authorized by the resump-
ton act of 1875, the proceeds OF which to-
gether with other gold in the treasury
created a gold fund deemed sufficient 10
meet the demands which might be made
upon it for the redemption OF the ont