Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1896-12-07

there should be no just reason why th'
| pachcaton of the island might not b'
effected on that bass 1t would put th'
prosperity OF the island and the fortunel
| OF its Inhabitants within their own control
without severing the natural and ancien
ties which bind them to the fmothei
| country.
II has been -intimated to Spain, and that
country does not seem unwilling to adopl
the suggestion, that the United States act
as mediator In .ringing about this result
| At the same time Spain de oands that the
iusu gents lay down their arms before q
compromise will be considered and the
/ Cubans insss on so- ething more definite
! than a promise o autonomy before they
| will consent to do 50 In any event, the
president says, the United States should
| make no attempt to acquire she island, and
should prevent any other power from
acquiring IL. II, however, the ability Of
| Spain to demonstrate its sovereignty be-
comes manifest, the United States should
not hesitate to recognize and DISCHARGE its
| duties without, In any way, meanwhile,
stimulating disregard to duty or ill-timed
| expression Of feeling Brief touching on
| I Venezuelan boundary question and the
| Behring sea complications, tue presid mt
then devotes himself to internal affairs.
His M ssage takes up ln detail the vsrlons
debts OF the ma ional government. In the
were $409,47 408.7S; expenditures 49,, ,678,
854.48, decrease S B 203 245.70. Value OF
dutable imports, 800, 757 ,470; value OF free
imports, 1909 967 40 Total increase $47,-
754,709. Value OF exports 1885,, ,606 9SS; in
crease over prec ding year $76, ,06S, ,773;
gold exported 81 2,409967 Silver exported
$60 541 $40; gold increase x46, 525 06j; silver
$2S III, ,1S5; a decrease of ~ 859 695 OF gold
and an increase of s, $3.50, ,007 of silver. To-
tai metallic money in the United States
July LIST, 81 ,22S, 1926 035 of which $599, 5o7 1854
was gold and s629 72S OIL was silver.
Nov 1st, 1896 total OF money In the United
States was ", ,2S5, 1888 and the amount in
circulation exclusive of treasury holdings
was 81, ,627 055, ,641, or $22 GA per capita on a
population OF 7l,902,000. The coinage OF
these metals throughout the world
the same yea was 1892, ,701 ,43S in
gold and $l21, 1896 2l9 in silver. Oct
6, 1896 there W re 3,679 national banks In
operation with $3. 263 6S5 900 resources OF
the liabilities 81 $50. .S91 05S.03 was due de.
positors and s2lO, 900 900 was, in outstanding
circulation notes. Twenty eight new
banks were organized and 81 surrendered
their charters, while for 27 others receivers
were appointed. State banks to the NUN
ber Of 570S are in existen e.
During the year t0,46S immigrants ar
rived, bringing to this country more than
$500, 600. In reviewing the war depart
ment, the president does not recommend
an increased army, as he says the organ
ICED militia numbers 1l2 S79 men, and costs
So 20000U annually, which should suffice.
He believes both tie regular army and
militia should have more money for equip
ments.
Regarding the navy, the president COM
Inents on the expenditure OF money for
coast defenses, declares his belief in the
ability OF the government to build its own
vessels and equipmeDts;is opposed to pay
ing any further speed premiums, and re.
commends plan for laying up ships in
reserve, SO as to reduce the cost OF main
tanning our vessels afoat. Eight new
cruisers and two guDboats have been COM
missioued, and the chief executive says
American ships are eqnal to any that float.
The president thinks federal offenders
should be confined in the government
prisons.
The postoffice department, he saws, is In
good condition, with deficit Of is, ,000, 900,
owing to reduction of postal duties and
the increase, without proportionate reve-
nue., of the low class mail matter.
The total Indian population is IN, ,235.
The president believes the Indians show
improvement under government MANAGE
ment, and recommends that they be look
ed after by commission, one of whom
shall be an army officer.
President Cleveland hits the pension
grabbers hard blow. He shows that last
year the number of pensioners materially
increased until the list Is the Target ever
reported, numbering 970,6 67S, aud costing
$138, ,2l476l "a.
President Cleveland demands the settle
ment of the Pacific railway loans and
grants, and especially the foreclosing Of
the Union Pacific mortgage.
He shows, In the agricultural depart
ment, that the value of farm products ex-
ported in 1896 amounted to $570 600 600. Hs
is opposed to further gratuitous distribu-
tion of seed.
The interstate commerce and civil SER |
vice laws are highly commended.
While admitting a deficit of little more |
than $25 900 900 the president defends the |
Wilson tariff bill as having opened up |
foreign markets and stimulated trade with |
other countries. The present bill, be says,
will yield sufficient revenue If given fair |
trial. but the deficit was to be expected in |
past two years. In this connection he de-
lends the drafts made on the reserve fund
40 he says it is immeasurably better to ap-
propriate our surplus to the payment of
expenses than to allow it to be.
come an invitation to reckless appropria-
lions and extravagant expen ditures.
President Cleveland alludes to our finan-
cial methods as weak and vicious and asks
! prompt reform of the system which is
opposed to every rule of sound finance and
shown by experience to be fraught with
yrievous peril and perplexity. He refers
10 the late contest as being a greater mem
ace to property than the late war. He de-
,lares financial peace cannot be secured
1otil all government currency obligation
lpou which gold may be dem ,nded are
withdrawn from circulation and cancelled.
He advocates their exchanging for long Il
lime, low interest bonds. If this is not
lone, be thinks such currency Obligations
when redeemed should be cancelled instead
II being re issued. National banks should
redeem their own notes. They should be
allowed to issue circulation to the par
value Of their deposits, security and their
circulation. Tax should be reduced to one
'ourth of one per cent.
Summing up the financial situation, the
president says: The entire case may be
presented by the statement that the day
If sensible and sound financial method will
lot dawn on Us until our government
lbandons the banking business and the
OF funos, aud confines its
monetary operations to tho receipt of the
money contributed by the people for Its
support and to the expenditure Of such
money for tbs peoples benefit Our busi-
less is this, and all good citizens long for
rest from the feverish agitation, and the
BY the government OF a re-
ormed financial policy which will encour-
lge enterprise and make certain the re.
wards OF labor and industry.
After denouncing the tendency of the
lines towards the creation Of trusts and
the tendency Of which, the
PRESIDENT said, Is to crush out Industrial
and to hinder or prevent the
lse of human faculties and the full deyel- +
,pment of human character, the president
appeals 10 congress to exercise rigid econ
my.
The way OF perplexlng extravaganza is
asy, but return to frugaliLy is difficult.
lie then concludes as follows
When our differences are forgotten and
he f.onkest of roliticaI nniuinus are M