Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1897-12-15

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 ou: in any other way,
they may return again to be followed
by another bond issue to redeem
a non-interest bearing debt.
In my view it is OF the utmost inn
portance that the government should
be relieved from the business of pro-
viding all the gold required for ex-
changes and export. This response
bility is alone borne by the govern
rnent without any of the usual and ne
cessary 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 treas
ury has come to be, with or without
reason, the signal of danger or of Sc
curity. This ought to be stopped.
If we are to have an era of prosper
ity in the country with sufficient re-
ceipts for the expenses of the govern
ment, we may feel no immediate en-
barrassment from our present cur
rency; but the danger still exists and
will be ever present, menacing us as
long as the existing system continues.
And besides it is in times of adequate
revenues and business tranquility that
the government should prepare for
the worst. We cannot avoid without
serious consequences of wise consider
alton and prompt solution of this
question.
The secretary of the treasury has
outlined plan in great detail for the
purpose of removing the threatened
recurrence of depleted gold reserve
and save us from future en.barrass-
ment on that account. To this plan
invite your careful consideration.
concur with the secretary of the
treasury in his recommendation that
national banks be allowed to issue
notes TO the face value of the bonds
which they have deposited for circula-
ton, and that the tax on circulating
notes secured by deposit of such bonds
be reduced to one-ha1f of one per cent.
per annum.
1 also join him in recommending
that authority be given for the estab-
lishment of national banks with a
minimum capital of $4,000. 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 ma
tiona1 bank notes be restricted to
upwards.
If the suggestions 1 have herein
made shall have the approval of Con-
gress, then l would recommend that
their notes in gold.
Turning to the practical aspects of a
recognition of belligerency and re-
viewing its inconvenience and posi-
tive dangers, still further pertinent
considerations appear. In the code of
nations there is no such thing as a
naked recognition of be1ligerency un-
accompanied by the assumption of in
ternational neutrality. Such recogni-
tion without more will not confer upon
either party to Democratic conflict a
status not therefore actually possessed
or affect the relation of either party to
other states.
The act of recognition usually takes
the form of a solemn proclamation of
neutrality which recites the de facto
condition of belligerency as it's mo-
tives. 1t announces a Democratic law
of neutrality in the declaring state. 1t
assumes the international obligations
OF neutral power in the presence of a
public state of war. 1t warns all citi-
zens and others within the jurisdiction
of the proclaimant that they vio1ate
those righteous obligations at their
own peril and cannot expect to be
shielded from the consequences. The
right of visit of search on the seas and
seizure of vessels and cargoes and con-
traband of war and good prize under
admiralty law must under information
al law be admitted as a legitimate con-
sequence of proclamation of bel1iger.
ency.
IT WOULD HELP SPAIN.
While according equal bel1igerent
: rights, defined by public law, to each
party in our ports, disfavors would be
imposed on both, which while nom1n.
ally equal would weigh heavily in be-
, half of Spain herself. Possessing a
navy and controlling the ports of Cuba
: her maritime rights could be asserted
. not only for the military investment
of the island, but up to the margin o.
our own territorial waters and con
: dition of things would exist for which
: the Cubans within their own dominion
: could not hope to create a parallel
: while its creation through aid or sym
t pathy from within our dominion wouls
be even more impossible than nov
S with the additional obligations of in
e ternationa1 neutrality we would per