Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1895-12-12

they excite concern, information is
hard to obtain. But our consul at
Silyas has been instructed to inyes-
tigate. 1t is not the intention of this
government to become entangled in the
eastern question but simply to care
for those entitled to its protection.
Ships have been sent to the point of
actual disturbance and on the demand
OF our ministers orders have been is
sued by the sultan that Turkish SOL
diers shall guard an escorl Of Ameri-
can refugees to the coast. 1t Is earn
estly hoped that prompt and effective
action on the part of the great Euro
pean powers will not be delayed.
Owing to the growth of American
interests in foreign countries the i'm
provement of the consular service is
urged In accordance with the recon-
mendation of the secretary Of state it
has been decided to fill consular po-
sition paying from $1,000 to $4,000 an
nually by promotion or transfer
from some other position in the de-
partment of state. These promotions
are to be made by examination and in
clude 1876 places. Legislation is need
ed Tor consular inspection The pres
ident recommends that ambassadors
and ministers at foreign courts be pro-
yided with official residences. He adj
yocates that, while avoiding the gilt
ter and show of foreign nations, this
country should not suffer by COMPARE
son through the shabbiness and parsi-
mony of its diplomatic corps.
Our Finances.
AS we turn from review of our for
I eign relations to the contemplation of
the national financial situation we are
Immediately aware, says the president,
that we approach subject of domes-
tic concern more important than any
other that can engage our attention
and one at present in such a perplex.-
ing and delicate predicament as to re-
I quire prompt and wise treatment. We
\ may well be encouraged to earnest ef-
/ fort in this direction when we recall
i the steps already taken towards I'M
4 proving our economic and financial
situation and when we appreciate how
/ well the way has been prepared Tor
1 further progress by an enforced and
f intelligent popular interest in these
I subjects. BY command of the people a
4 customs revenue system, designed for
the protection and benefit Of favored
i classes at the expense of the great
4 INC Of y, soI.
while inefficient for the purpose of
+ revenues, curtailed our trade relations
and impeded our entrance to the mar
kets Of the world has been superseded
by tariff policy which in principle is
based upon.a denial of the rirht The
rnr- -g'rory lpr base ard coinage of
silver BY the government unchecked
/ and regulated by business conditions
and needless of our currency needs,
which for more than fifteen years iii
luted our circulating medium, under
mined confidence abroad in our finan-
j cial ability and at last eliminated in
distress and panic at home, has been
/ recently stripped by the repeal of the
laws which forced this reckless scheme
upon the country. The things thus
accomplished notwithstanding their
i extreme importance and benefcent eff
4 fects fall far short of curing the none
4 tary evils from which we suffer as a
/ result of long indulgence in ill-advised
i financial expedience.
After explaining the resumption of
i specie payment and the creation of the
reserve gold fund of $100,O00,O0 the
president gives brief monetary his
tory of the United States, quoting the
fact that in July, 1890, congress pro-
vided for the purchase of silver bull
lion but decided that gold and silver
must be kept at parity. :. The re-
deemed treasury notes. treated as gold
obligations in 1898, amounted to $l55,-
| 100000 with $500, 000,0 900 outstanding.
This served to deplete the gold reserve
in April, 1898, to $97,011, $3.50; and the
! president ascribes its further depletion
to high tariff laws in vogue until the
/ passage of the Wilson bill, together
with the infusion Of silver into the
/ currency and the increasing agitation
4 w I'D Aitt SOlHdSts III consequence
of these conditions the reserve had
fallen in February, 1894. to Sos, 1873, 377
"a decrease of s31 900 900 in nine
months. To relieve this state Of af-
fairs $162,000,000 in bonds were issued
in three periods under the redemption
act of 1895. President Cleveland ex-
plains the necessity of the Morgan
syndicate contract and declares that if
at its special session in July congress
had authorized the issuance of per
cent. bonds $16.000.000 would have
been saved. Despite these efforts the
| gold reserve is about in the same con-
dition, there being but s79,333, $3.50 on
hand at present. Between 1879 and
1890 but s2S.OO0,C00 Of gold was with
drawn while between 1890 and 1895
the amount is 1875, 1000, 600. This is at
tributed to increased purchase OF sill