Santa Fe daily New Mexican., 1896-12-21

| tlon that the secretary OF the treasury
should be authorized to issue from time
to time bonds, payable in gold and bear.
| ing interest at a rate not exceeding 3 per
cent per annum, having long time to
run, and to exchange such bonds for
United States notes and treasury notes
upon such terms as might be most ad-
vantageous to the government, or to sell
bonds abroad for gold whenever in his
ju dgment, it might be advisable to do so
and use the gold thus obtained in making
redemptions of the outstanding notes.
Mr.. Carlisle also renews his recon-
mendation for such amendments to ma
tlonal banking laws as would permit the
issue of circulating notes eq ual in amount
to the face value of the bonds deposited
and to reduce the tax on the notes to "a
per centum, and that authority be given
to establish branch banks for the tran
saction of all kinds of business now al
lowed except the issue of circulating
notes.
The secretary says: "The condition of
the treasury is such that no revenue legis-
lation is Immediately necessary or can be-
come necessary for considerable time in
order to enable the government promptly
to meet all it's ordinary obligations.
What is most needed at present is not
more taxes, but more economy in appro-
priations and expenditures"
CALL FOR BANK REPORTS.
The com ptroller of the currency has
made call on national banks for a re-
port of their condition at the close of
business on December II.
CUBAN REPORT IN THE SENATE.
Senator Cameron to-day presented to
the senate the report of the committee on
foreign relations favorable TO the adop
tion of a joint resolution recognizing the
independence of the Republic of Cuba.
The report begins with review of the
action of congress at the last session,
pleading itself to friendly intervention
with Spain for the recognition of the in
dependence of Cuba.
"Spain having declined these overss
tures," the report continues, "the only
question that remains to be decided is as to
the nature of the next step to be taken,
with proper regard to the customs and
usages of nations"
Then follows an exhaustive review of
this century's instructions of peoples
claiming independence by right of revolt
and of the interventions by other nations.
Coming down to the case of Cuba, the re-
port says: "Greece had no such stability
when it was recognized by England, Rus
sia and France; Belgium had nothing of
the sort when she was recognized by all
the powers in 1880. The only question
that properly remains for congress to
consider is the mode which should be
adopted for the step congress is pledged
next to take.
"The practice of Europe in regard to
has been almost invariably
harsh aud oppressive. The practice of
the United States has been almost in
variably mild and forbearing. Among
the precedents which have been 30
numerously cited, there can be no doubt
as to the choice. The most moderate is
the best. Among these the attitude
taken by President Monroe in 1922 Is the
only attitude which can properly be re-
garded as obligatory for similar sltua-
tion to-day. The course pursued by the
United States in the recognition of Col
ombia is the only course which congress
can consistently adopt.