Gulf Coast breeze. [volume] (Crawfordville, Fla.) 1897-19??, 1897-12-10
THE PRESIDENTS MESSAGE.
A REVIEW OF THE AFFAIRS OF
OUR NATIONAL GOVERNMENT.
RECOMMENDATIONS TO CONGRESS
Currency Reform and Cuban Question
The Most Salient Features OF
the Document.

tatives:
II gives me pleasure to extend greet.
ing to the Fifty.ffth congress assem-.
bled In regular session ut the seat OF
government. with many Of whose sen.
ators and representatives I have been
associated in the legislative ser.
vice. Their meeting occurs under 70.
licitous conditions. justifying sincere
congratulation and calling for our CRATE.
full acknowledgement to q benehcent
providence, which has 80 signally blessed
and prospered us as nation, Peace
and good will with all the nations Of
the earth continue unbroken.
A matter OF great satisfaction Is the
growing feeling Of fraternal regard and
unification Of all sections Of our coun.
try, the incompleteness Of which has too
long delayed realization of the highest
blessing Of the Union. The spirit of
patriotism is universal and 10 ever In.
oreasing in fervor. The public questions
which now most engross us are lifted
far above either partisanship, prejudices
or former sectional differences. They
affect every part Of our common country
alike and permit Of no division on anci-
ent lines. Questions of foreign policy,
Of revenue, the soundness OF the our.
rency, the inviolability Of national obi.
cations. the improvement OF the public
service, appeal to the individual con.
science OF every earnest citizen to what.
ever party he belongs or in whatever
section Of the country he may reside.
The extra session OF this congress
which closed during July, last. enacted
important legislation. aud while its full
effect has not yet been realized. what 1t
has already accomplished assures Us OF
its Thickness and wisdom. To test it's
permanent value further time will be
required and the people, satisfied with
its operation aud results thus far. are
in no mind to withhold from IL q fair
trial.
Tariff legislation having been settled
by the extra session OF congress. the
question next pressing for considera-
ton Is that of the currency.
The work Of putting our finances upon
a sound basis, difficult as IL may seem,
will appear easier when we recall the
financial operations Of the government
since 1886. On June 10 OF that year we
had outstanding demand liabilities in
the sum OF $728. 1888, 447.4l. On Jan. /.
1879, these liabilities had been reduced
to $443:SS9, 495. SS. OF our interest bear.
ing obligations, tthe figures are even
principal Of the interest bearing debt OF
the government was %. 3S2, 1871. 2O8 On
July ]. 1893. this sum had been reduced
-. IN sad
ton Of $l,747. 1854, 108 The interest bear.
ing debt Of the United on Dec. l. 1897.
was $847. 365.620 The government
money now outstanding (Dec. ~ con.
sists Of $346. 8Yl ,0l6 Of United States
notes, $l07, 79S, ESQ Of treasury notes is.
sued by authority Of the law OF 1890,
$344. 963. 504 Of silver certificates, aud
$6l, 286, 76l Of standard silver dollars.
No Time TO Hesitate.
With the great resources Of the gov.
eminent and with honorable example
of the past before Us. we ought not to
hesitate to enter upon o currency re-.
vision which will, make our demand oh.
| legations less onerous to the govern.
ment and relieve our financial laws
from ambiguity and doubt.
plished from the close Of the war to
1898 makes unreasonable and ground.
less any distrust, either Of our financial
ability or soundness; while the situation
from 1893 to 1897 must admonish con.
gress Of the immediate necessity OF so
legislating as to make the return OF the
conditions then prevailing impossible.
There are many plans proposed as
remedy for the real evil. II Is not that
our currency OF every kind is not good.
for every dollar Of 1t is good-good be.
cause the governments pledge Is out to
keep it 80, and that pledge will not be
broken. However. the guaranty Of our
purpose to keep the pledge will be best
shown by advancing toward its fulfill
ment.
The evil Of the present system is
found in the great cost to the govern.
ment Of maintaining the parity OF our
different forms of money. that is. keep.
ing all Of them ut par with gold. We
surely cannot be longer needless OF the
burden this imposes upon the people.
ever under fairly prosperous conditions.
while the past four years have demon
strated that IL Is not only aud expen.
sivs charge upon the government. bu,
. dangerous menace to the national
credit
II 10 manifest that we must devise
some plan to protect the government
against bond issues for repeated re.
demptions We must either curtail
the opportunity for speculation, made
easy BY the multiplied redemptions OF
our demand obligations. or increase the
gold reserve for their redemption. We
have 5000, 900, 900 Of currency which the
government by solemn enactment has
undertaken TO keep at par with gold
Nobody is obliged to redeem in gold but
the government. The banks are no,
req uired to redeem In gold. The gov
eminent is obliged to keep equal with
gold all its outstanding currency ant
coin outstanding, while its receipts arr
not reouired TO be paid in gold They