Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1897-12-10
It's Main Topics of Discussion.


representatives have been associated in
the service Congratulations follow that
the meeting occurs under conditions so
feliCitous. The full effect of the tariff leg
islation enacted at the extra session has
not been realized, but what has already
been accomplished assures us of its time
illness and wisdom.
After these opening observations the
President takes up at once the financial
question. The evils of our present system
are stated. Chief of these is the fact that
we have no way to maintain the gold reserve
when the revenues are deficient except by
bond issues. We have 5000 900, 600 of cur
rencY which the government by solemn en-
actment has undertaken to keep at par
with gold, and it does this Notwithstanding
the fact that nobody except the govern
ment is obliged to redeem in gold, and the
government receipts are not required to be
paid in gold.
The law, which requires the government,
after having redeemed its United States
notes, to pay them out again as current
funds, demands a constant replenishment
of the gold reserve. In times of business
panic or depression this replenishment can
only be made by borrowng-by the issue
of bonds. For these reasons the President
says:
81 earnestly recommend as soon as the
receipts of the government are quite suf-
ticient to pay all the expenses of the gov
eminent, that when any of the United
States notes are presented for redemption
in gold and are redeemed in gold, such
notes shall be kept and set apart and only
paid out in exchange for gold This is an
obvious duty. II the holder Of the United
States notes prefers gold and gets it from
the government he should not receive back
from the government United States note
without paying gold in exchange for it.
The reason for this is made all u more
apparent when the government issues an
Understanding debt TO provide gold for
the redemption Of United States notes-a
non-interest bearing debt Surely it should
not pay them out again except on demand
and for gold. If they are put out in any
other way they may return again TO be fol
lowed by another bond issue to redeem
them-another Understanding debt to re-
deem non-interest bearing debt
II We are to have any era of prosper
ity in the country with sufficient receipts
for the expenses of the government We
may feel no immediate embarrassment
from our present currency; but the danger
still exists and the time to correct the evil
is when business is prosperous and the
revenues adequate.
The President endorses the recommends
ton of the secretary Of the treasury that
national banks be allowed TO issue notes
to the face value of the bonds deposited TO
secure circulation, and that the tax on cir
culation be reduced to one-half of one per
cent
81 also join him." the President adds,
Sin recommending that authority be given
for the establishment of national banks of
a minimum capital stock of S2j, 900. This
will enable the smaller villages and agri-
cultural regions of the country TO be
supplied with currency to meet their
needs. ! recommend that the issue of
national bank notes be restricted TO the
denomination of $40 and upward"
The Cuban question.
Next after the currency the Cuban ques-
ton is taken up, with the opening remarks
that our duty toward Spain and toward the
Cuban instruction is the most important
problem now pertaining TO our foreign re-
lations. The unrest of the Cubans and
SPANS weak hold on the island through
many years is mentioned. The teu-years'
war, from 1865 to ISIS, was ended only to
break out in another instruction in Feb
ruary, 1888, which has carried destruction
into every part of the island.
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 people to pro-
fit by the misfortunes of Spain; we have
only the desire to see the Cubans prosper
GUS and contented, enjoying that measure
of self-contro which is the inalienable
right of man, protected in their right to
reap the benefit of the eXhaustless treas
ures of their country
President Cleveland's offer of mediation.
made in April, 1896, was refused. The
cruel policy of concentration was initiated
February 10, 1896. The productive dis
trcts controlled by the Spaniards were de-
populated. The agricultural inhabitants
were herded in and about the garrison
towns, their lands laid waste and their
dwellings destroyed. This policy the late
cabinet of Spain justified as a necessary
measure OF war and means of cutting off
supplies from the insurgents. 1t has ut
terly failed as war measure. 1t was not
civilized warfare. 1t was determination.
The instructions given to Gen. Wood
ford, our new minister to Spain, before his
departure for his post directed him to i'm
press upon that government the sincere
wish of the United States to lend its aid
toward the ending of the war in Cuba by
reaching peaceful and lasting result, lust
and honorable alike TO Spain and TO the
Cuban people. Spain's reply was friendly
and in the direction of better understand
ing between the two countries. 1t gives
assurance that military operations in the
island will hereafter be conducted on hui
name principles and of purpose to give
the Cubans home government.
After a careful canvass of the whole
question as to whether the United States
ought to recognize the Cubans as belliger-
ents the President concluded that the pres
cut situation is not essentially different
from that in December, 1875, when Gen.
Grout, in his memorable message" wise
ly concluded that recognition was neither
justitiable nor eXpedient.
Intervention on humanitarian grounds
has been frequently suggested and has re-
ceived anxious and earnest consideration:
but after the whole situation has been
weighed in all its bearings the only lust
and the only polite way seems to be TO
give the new Spanish ministry a chance TO
make fair trial of its proclaimed human
policy, and to redeem its pledges to Cuban
people.
The first acts of the new government
lie in the honorable paths. The policy of
cruel rapine and determination that so
long shocked the universal sentiment of
humanity has been reversed. Under the
new military commander broader elem