The Superior times. [volume] (Superior, Wis.) 1870-1912, 1897-11-06
WASHINGTON LETTER.
From our Regular Correspondent

Attorney General MChenna hgUreS
out a total saving Of S23 COO, coo 10 the
people of the United States by reason
of the firm manner in which President
Mckinley insisted upon maintaining
the rights OF the people III all his deal
ings with the bidders for the purchase
of the Union Pacific Railroad. The fin
ancIers knew that they would have 10
pay more for the road in order to get
TIE sanction of this administration TO
the sale than they had offered in their
negotiations with the Cleveland admin
iStritiOI. Their first offer was about
So 900 in excess of the one they
made TO the last administration. and 10
that thew were forced by President Nc
kinley's frmness 10 add 81, 600 600, in
order 10 reach the total amount of the
road S indebtedness to the government,
which was the limit set by the Presi-
dent. When the future historian sums
no the notable plishments of the
Mckinley administration, this Union
Pacific business Will occupy a conspic-
uous place. tits in fact Il great achieve
ment-pcrhaps one OF the greatest III
our civil history, and is en- Object lesson
that might be studied with profit bv
those state, municipal and county
authorities who are constantly allowing
the professional tinanciers to get the
advantage of the people they represent.
Those who expected Secretary Gage
to make sensational financial recon-
mendations III his annual report to Con-
gress were disappointed with the con-
sentative policy outlined in the state
ment prepared 10y him and made pub
lie after it was read to the Cabinet. He
starts out by saving that while the
present satisfactory condition of things
financially may continue for an inGetin
lite period, lie deems it the part Of wis
dom to suggest some reform in our fin
ancial system. He recommends either
that steps be taken to largely increase
the gold reserve, or to decrease the
amount of currency in circulation, for
which gold may be demanded, and eX-
presses Il preference for the latter; and
that the bonded Indebtedness of the
country be refunded 10y the issuing for
the entire amount OF Oh per cent.
bonds, payable in gold, which would
save the country very large amount
of money in the shape OF the higher
interest that Is now being PAID, and
would, Secretary Gage thinks, greatly
Str a g ln
Several amendments to the National
banking laws are recommended, with
the idea of largely Increasing the
amount Of National Bank currency.
Among them being the establishment
Of National banks with a capital of So
600 in places of less than 1900 lnhabi-
tants, the reduction of taxation on their
circulating notes to be one half of one
per cent. per annum, the privilege to
issue notes TO the par value of the bonds
deposited with the government, and
others more or less technical III nature
That Mr.. Gage hasn't been bit bv the
cureall-iIls financial dog was shown
by the following modest introduction:
erty TO make must be construed as tent
alive steps in a direction which, if con-
sistcntly pursued, viii ultimately lead
to conditions theoretically desirable,
rather than in being in themselves fna!
measures to that end"
! Secretary Wilson, among other val
! liable and important recommendations
in his annual report, asks that educated
agents Of the Agricultural Department
! be attached to the L. :. Legation in all
| countries with which we compete in
| the markets of the world, in order that
our farmers may be kept properly post
ed upon what their business .yals are
| doing all the time. lie suggests that
| the agricultural colleges, endowed 10y
/ Congress, are graduating men who are
! fitted to properly perform the duties Of
agents of the department in foreign
countries.
The appointment of Gen Longstrcet,
of Ga, to succeed Gen. Wade Hampton
as Commissioner OF Railroads, seems to
| have highly gratilied republicans from
all sections, and especially those from
the south. 1t has been understood,
eyer since last year, that this place
would be given to Gen. Longstrcct, but
for personal reasons Gen. Hampton.
was net hurried ont of the office.
Members of President Mckinley's
administration nave every reason to be
perfectly satisfied with the status Of the
diplomatic relations between the Unit
ed States and Spain, as would ut once
be apparent to the public if the long
answer 10 the first important communi-
cation sent ly President Mckinley to
the government ofSpaln was published
There are important reasons why this
document has not been and Will not be
made public for time-probabIy not
until after it has been submitted to
Congress.
The fact that Secretary Long has de-
ciared his opposition to tie establish
ment of a government plant for the
manufacture OF arnIor plate has caused
dropping off of interest in the report
of the Board of Naval Officers who have
been investigating, in obedience to Con-
gress, for the purpose of reporting the
best location for such plant y major
ity Of them are said to favor Birm.ng-
ham, Alabama.
Il !