Abilene weekly reflector., 1897-12-09


when the governmental issues an interest-bearina
note to provide gold for the redemption OF
United States n0tes--a nOn-intorest bearing
debt. Surely 1t should not pay them out agar
except on demand and for gold lfthey are pu'
out in any other way they may return again td
be followed by another bond issue to redeem
them-another Interest," bearing debt TO redeem
non-intcrest bearing debt
Providing Gold for Business.
In my view II Is Of the utmost Importance
that the government should be relieved from
the business OF providing oil the gold required
for exchange and export This responsibility
IL alone borne by the government without any
Of the usual and necessary banking powers To
help itself The banks do not feel the strain
OF the gold redemption. The whole strain
rests upon the government and the size OF the
gold reserve In the treasury has come to be,
with or without reason, the signal Of danger
or OF security. This ought 10 be stopped. II
we are to have on era Of prosperity In the
country with sufficient receipts for the ex-
penses OF the government. we may feel no I'M
mediate embarrassment from our present cur
rency. but the danger still exists and will be
ever present menacng us so long as the existing
system continues And besides II Is In times
OF adequate revenues and business tranquility
that the government should prepare for the
worst We cannot avoid without serious con-
sequences the wise consideration and prompt
solution Of this question
secretary Cages Plan.
The secretary Of the treasury has outlined q
plan In great detail for the purpose Of remov-
ing the threatened recurrence Of depleted
gold reserve and save us from future embar-
rassment on that account To this plan l In
vite your careful consideration | concur with
the secretary OF the treasury In his recommen-
dation that national banks be allowed to issue
notes TO the face value OF the bonds which they
deposited for circulation. and that the tax on
circulating notes secured by deposit OF such
bonds be reduced to 0ne-half Of one per cent
per annum also Join him In recommending
that authority be given for the establishment
OF national banks with u minimum capital OF
i25 0OO This will enable the smaller villages
and agricultural regions OF the country to be
supplied with currency to meet their needs
recommend TINT the issue Of national bank
notes be restricted TO the denomination OF tl0
and upwards. II the suggestions have herein
made shall have the approval Of congress, then
would recommend that national banks be re-
Quired to redeem their notes In gold
FOREIGN RELATIONS.
The most important problem with which
this government Is now called TO deal, pertain
Ing to Its foreign relations, concerns Its duty
toward Spain and the Cuban insurrection
Problems and conditions more or less In COM
mon with those now existing have confronted
this government at various times In the past
The story OF Cuba for many years has been one
OF unrest growing discomfort, an effort toward
larger enjoyment Of liberty and self-control;
Of organized resistance to the mother country;
OF depression after distress and warfare, and
of Intellectual settlement to be followed by re-
newcd revolt For no enduring period since
the enfran ,hlsement oi the continental possess
sion Of Spain In the western continent has the
condition OF Cuba or the policy OF Spain to-
ward Cuba not caused concern to the United
States
Tho War In Cuba.
The present lnsurrectIon broke out In Febru-
ary. 1885 1t Is not my purpose ut this time to
recall It's remarkable increase or to character
lie its tenacious resistance against the enor
nous forces massed against 1t by Spain The
revolt and the efforts to subdue 1t carried de-
struction to every quarter Of the island, deyel-
oplng wide proportions and defylng the efforts
of Spain for It's suppression. The civilized
code Of war has been disregalded no less 80 by
the Spaniardi than by the Cubans. The exist
Ing conditions cannot but Ill this government
and the American people with the gravest up.
prehension, There Is no desire Oh tho part Of
our peoole to profit BY the misfortunes OIL
snuin We have only the desire to see the
Cubnns nrosperous and contented, onjoylnl
that measure of self-control which is the In.
alionnb q ripbt of man protectcd in their richt
to reap the benefit of the exhaustless treasure,
of their country
Tho offer mnde by nv predecessor in April
1904 tenderine the friendly Offices of this rov.
ernment failed Any mediation ON our par,
was not accented. In brief the answer read
.Tbere is No erectunl wny to nacifv Cuba nm.
,ess /, hoyIn with thc actual submission of tn,
roho,s 10 ,he mo,har" Then onlv could snair
M, in tho nromiscd direction of her own mo.
,Io, nrI ,t,or h an o,,n ,,,ons mo cr,a, ,ollc,