The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1897-12-11
The Presidents Message.

The President message is qnite dSap-
nninting. in view of The many and long ad-
vance statements of lis contents. tn neither
strong nor direct, aud the President either
has not fully grasped the important questions
he undertakes to discuss or has 'ndehV"fta
10 please everybody.
He believes the Dinglev tariff act impor-
,apt and wise legislation. and that no further
tariff legislation is necessary untll ITS perh"-
uent value is further tested. This statement
* made with the full knowledge that the rev
uues Of the government are about nine mil =
lions of dollars month less than the eX-
uenses. and the wise legislation has been
IN operation about five months.
The President then takes up the currency
question. and makes the astonishing state
ment that the government has 5000, o0o'"o
of currency. which, by solemn enactment,
il is bound to keep at par with gold. and INA!
..nobodv Is obliged to redeem IN gold but the
government Ifthcre is any act OF Congress
reouiriug the government to redeem It's notes
in cold lis existence * unknown. The tact
is the government has no outstanding notes
or bonds redeemabIc in gold. They are re
deemahlr in coin. gold or silver, and I'll" OILY
solemn enactment upon til" subject IS Il
determination upon the part of the treas n'}
denarrment to discredt one halfof the money.
silver. and To redeem in gold. AT the dctall"h
of Wall street.
The President enters into no discussion ot
The currency question, but contents himself
with a few statements and some reconnenda-
lions. After the receipts of the government
are eoual TO the expenses. Il very improbable
event so long as tariff rates are prohIbltlNe
and extravaganza regnS, he recommends that
United States notes that are redeemed IN gold
shall he re issued only in exchange Tor gold.
He further con ours in the recommendations
of Mr.. Gage, Secretary Of the Treasury, who
recommends that national banks be aIl9We"
10 issue notes in denominations of SO and
UPWARDS. to the full amount OF their capital
stock. and to an excess of twenty-five per
cent. based on the assets of the banks. and
such excess shall be taxed > per cent. to pro
vide guarantee fund: that the tax "n regular
circulation be reduced from one +" one hall
ner cent: that the establishment Of national
banks with IA minimum capital Of SD. 900 he
permitted and that the banks he required +"
redeem their notes in gold. These recon-
mendatioms, if carried out. would mean
donation to banks. over their present thy"r>.
of len per cent more money, a reduction oi
one half of the federal lax. and send gold
still higher by doubling the demand for il.
These recommendations are in response I"
ihe single gold standard sentiment of the
East. Then the President turns t" the free
coinage advocates, speaks of The efforts of the
special envoys. appointed under act of Con
oress. 10 visit the leading governments OF
Europe to secure an international agreement
for the use of both gold and silver rs redemp-
lion money These envOvs-N olcOtt. Steven
son and Paine-accompIiShed little or Meth
inc. for England controls the situation, is Il
creditor nation and is protiting by the mann
,enance of the single gold standard, but the
President holds out hope to the free coinage
Republicans by concluding as follows:
..Meanwhile. it gives me satisfaction 10
state that the special ENJOYS have already
demonstrated their ability and fitness to deal
with the subject, and IT Is to be earnestly
hoped that their labors may result in AN m
ternational agreement which will bring about
RECOGNITION Of both gold and silver as money
upoA such terms and with such safeguards a.
will secure the use ofboth metals upon basis
which shall work no injustice to any class at
our citizens
TO the Cuban question the President de
votes IL considerable portion of his message,
aud he seems to have endcavored To please
the sound judgment of the country. by adj
vising nonintcrterence. and the ingoc> by
stating that later it may be the duty of this
government to intervene with force.
The only other matter OF importance taken
up by the President is the Hawaiian annex
alton scheme, and the conclusion is that
''every consideration of dignity and honor
requires that the treaty signed last summer,
providing for annexation, be confirmed.
1t is probable this recommendation will be
favorably acted upon. though the sound ludS-
ment of the country is opposed to an
nexatiOn. This country has no need for
the islands. and their annexation will entail
Il large expense upon the government and
will result in continual international contr"-
versy.
The message. as said above. is very disap-
pointing. 1t is weak and vascllating, and
Mr.. Mckinley has fallen far short in the
statesnanlike qualities claimed for him. He
lacks force in expression, and his message is
more the work of politician than that oi
statesman.