The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-12-10

q IfVIl~ SD0C lA8 NCOSs 04AOAJ -
should not pay them out again except
on demand, and for gold. II they are
put out in any other way, they may re-
turn to be followed by another bond is
sue to redeem t~hem-another interest
bearing debt to redeem a non-fntereSt-
bearing debt.
"In my view, it is of the utmost i'm
portance that the government should be
relieved from the burden of providing
all the god required for exchanges and
export. This responsibility Is 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 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 TO be stopped.
'If we are to lave an era of prosperi-
ty in the country, with sufficient receipts
for the expenses Of the government, we
may feel no immediate embarrassment
from our present currency; but the dam
ger still exists and will be ever present
menacing us so long as the existing sys-
TEN continues. And besides 1t is in times
of adequate revenues and business tram
guilty that the government should pre-
pare for the worst. We cannot avoid
serious consequences, the wise consid-
Grafton and prompt solution OF this Ques-
ton.
HE REMEDIES SUGGESTED.
The secretary of the treasury has out
lined a plan in great detail for the pur-
pose Of removing the threatened recur-
us from future embarrassment on that
account. To this plan L invite your care
full consideration.
II concur with the secretary of the
treasury in mis- recommendation that Ma
tional banks be allowed to issue notes to
the face value OF the bonds which they
have deposited for circulation, and that
the tax on circulating notes secured by
deposit of such bonds be reduced to one
half Of one per cent. per annum. l also
join him in recommending that authority
be given for the establishment of ma
tional banks with a minimum capital Of
So, 900. This will enable the smaller viii
lagos and agricultural regions Of the
country to be supplied with currency to
meet their needs.
Il that the issue Of ma
tional bank notes be restricted to the
! denomination Of $40 and upwards. If the
suggestions l have herein made shall
have the approval OF congress-, then /
would recommend that national banks be
required to redeem their notes in gold.
THE CUBAN QUESTION.
Turning to foreign affairs, the presi-
dent devotes a great part of his message
to a consideration of the Cuban ques-
ton, which he says Is the most import
ant problem with which this government,
it's foreign relations. The story of cuba
has for many years been one of unrest
and for no enduring period has it ceas-
ed to cause concern to the United States
mer outbreaks and of the part played by
General Grant in the last war, the pres
ident, coming down to the present insur.
rection, speaks Of its remarkable in.
crease, its tenacious existence against
the enormous forces massed by Spain
the widespread destruction of property
and the disregard OF the civilized code
of war no less by the Spaniards than by
tho CubanS- He saws.
The existing conditions cannot but
fill this government, and the American
people. with the gravest apprehension
There is no desire on the part Of our peo
PIE to profit by the misfortunes of Spain
We have only the desire to see the Gu
bans prosperous and contented, enjoying
that measure of self-control which is thu
inalieanabie. right of man, protected il
their right to reap the benefit of the ex'
haustless treasures of their country"
Continuing. the president says that the
1896, of the good offices Of this govern
ment failed. The cruel policy of con
centration was inflated in February
1896. 1T has utterly failed as a wa,
measure. 1t was not civilized warfare
it was determination" says the presi
dent Against this abuse of the right:
of war he has felt constrained on repeat
ed occasions to enter the firm and earn
est protest of this government. He mad
instant demand for the release or speed!
trial Of all American citizens under ar
rest, and before the change OF the Span
ish cabinet in October last, twenty-tw.
prisoners, citizens of the United States
had been given their freedom.
The instructions to Minister WoodfOrt
directed him to impress upon the Span
iSh government the sincere wish Of tn,
United States to lend it's aid towards tn,
ending of the war by reaching a peaceful
and lasting result, just and honorabl,
alike to Spain and to the Cuban people
1t was also asked whether Spain, of he
own v%olition, moved by her own interest
and sentiments Of humanity, should NO
make proposals of settlement, and it wa
said that we could not contemplate a.
indefinite period for the Accomplishment
of this result. No solution was PROPOSE
to which the slightest idea OF humilita
tfon to Spain could attach. All that wa
. asked or expected. was that some SAT
way might be speedily provided and per
manent peace restored.
The president refers to the change i
the Spanish abine about this time an
continuing says:
rection of a better understanding. 1t ap
preciates the friendly purposes OF thi
government. 1t admits that our countr
is deeply affected by the Cuban war"
1t declares that the present SPANS
government is bound by every consid
Grafton to a change Of policy that shout
: satisfy the United States and pacif
Cuba within a reasonable time. To thi
end Spain has decided to put into effeC