The Middleburgh post. [volume] (Middleburgh, Snyder Co., Pa.) 1883-1916, 1897-12-09


Promised by sagasta's Cabinet-Fa-
Favors Hawaiian Annexation.
Washington, Dec. THE attendance
in both houses of congress yesterday
was notably large, despite the known
fact that no business would be trans
acted The event OF the day was. of
course. the reading of the president 3
message, a voluminous document of a.
900 words. and at the conclusion of the
reading both houses adjourned until
today.
The message congratulates congress
upon assembling under felicitous con-
ditions Peace and good will with all
the nations of the earth remain un-
broken, he says. and we should feel
genuine satisfaction at the growing
spirit of fraternal regard and uniflca-
tion In all sections of our country and
the lifting OF great public sense above
party prejudice.
Beginning with the subject of the
finances the president says that while
the full effect of the legislation OF the
extra session has not yet been realized.
what 1t has already accomplished as
sures us of its tlmellness and wisdom.
To test Its permanent value further
time will be required. and the people,
satisfied with its operation and results
thus far. are in no mind to withhold
from II a fair trial.
The next question pressing for con-
sideration Is that OF the currency.
With the great resources of the gov
ernment and with the honorable ex-
10 x.f 4 -
not to hesitate to enter upon "A cur
rency revision which will make our de-
mand obligations less onerous to the
government and relieve our financial
laws from ambiguity and doubt. The
evil Of the present system is found in
the great cost 70 the government OF
maintaining at parity with gold our
different forms Of money, and the ex-
perience of the past four years have
demonstrated that this is not only an
expensive charge upon the government.
but q dangerous menace to our ma
tlonal credit.
Protection Against Bond Issues.
1t Is manifest that we must devise
some plan to protect the government
against bond issues for repeated re-
demptions. We have $9OO,0OOO0O of
currency which the government by sol d.
smn enactment has undertaken to keep
at par, and nobody is obliged to redeem
In gold but the government, which
must redeem In gold. The law which
requires the payment out Of the treas
ury Of redeemed United States notes
demands a constant replenishment Of
the gold reserve, especially in times of
panic and insufficient revenue, and dur
Ing the preceding administration $685.
n54O0 Az per cent bonds were issued
and sold to sustain the gold reserve and
pay the expenses Of the government
b excess of the revenue. While 1t is
true that greater part Of this Is
used to supply deficient revenues. a
eOnsiderable portion was required to
maintain the gold reserve. II no fur
her legislation Is to be had to cor
ect this, and the policy of selling
!, bonds is to be continued, then congress
a hould give the secretary Of the treas
uy authority to sell bonds at long or
hort periods, bearing less rate of in
Nrest than is now authorized by law
lhe president says:
A. I earnestly recommend, as soon as
be receipts Of the government are
= ulte sufficient to pay ali the expenses
Y the government, that when any
lnlted States notes are presented for
>, sdemption in gold and are redeemed in
pd such notes shall be kept and set
part and only paid out in exchange
=, f gold. This Is an obvious duty. II
49,, Ae holder Of the United States note
~ Nfers the gold and gets it from the
aptN h. ..l1
y, % pm the government a United States
.t pte without paying gold in exchange
= it, That amounts, to the presi-
XIII nts mind to giving an interest bear
M, debt, a government bond, for a non
terest bearing debt, a United States
Ne
ihe president yites careful con
efation for t., detail plan of the sec
afy OF the treasury to protect the
ldet. reserve. He concurs with him in
ction recommendation that national
wl' us be allowed to issue notes to the
'' value of their bonds deposited:
sher the circulating tax be reduced to
malt of l per cent. and that ma
- aal banks may be established with
a, @pital Of S25, 900. He also recon-
&c lcs that the issue of national bank
3 be restricted to the denomina-
OF $40 and upward, and that they
eeuired to redeem their notes in
The Cuban Question.
? president deVotes much space
eonsideration of the Cuban Ques-
mn" summarizing the History of for
,rs outbreaks, the president comes
'nton 70 the present insurrection. speak
SheIesss Y It's remarkable increase, its ten
on Pss existence against enormous
galSsDS sS massed by Spain, the wide
destruction OF property and the
th4n Sard of the civilized code Of war
tNWt' No sides He says these condi-
Isrgss sNe rise To gravest appreheu-
odS,Sel lhere Is no desire to profit by
All mistortunes, and we have only
lbn ''sue to see the Cubans enjoying
E'D MEASURE of self control which Is
IN alenable right OF all OF the con-
wy ,or ssoh policy OF Weyler he says;
NC ,,sb utterly failed as a war meas
co p'' Is not civilized warfare, 1t Is
,ad tlc ainaton,"
dhMSgI MSgIfI 's' this abuse OF the rights OF
e president SAYS he has felt
on