The citizen. (Frederick City, Md.) 1895-1923, 1897-11-05
FROM THE CAPITAL.
Our Correspondent Talks in a Sage
Manner of Things in General
About Washington.
communicated
WASHINGTON, Nov. /, Il

~N
WASHINGTON, Nov. /, 1887.
Secretary Gage now owns up to the
gold bond scheme, which so many
Republicans took the trouble to deDy
when il was publicly stated short
time ago that it would form the
foundation of the administrations AFT.
tempt to secure financial legislation
from Congress at the coming session.
Mr.. Cages statement to the Cabinet
has been made public, probably with
the hope that it will meet favor with
the people to a sufficient extent to in
fluence Senators who are naturally on.
posed To such a scheme, which for bam-
boozling purposes, Mr.. Gage calls auti-
radical in character. This country
fought the greatest war of modern
times without finding it necessary to
issue singne gold bond, yet. now, in
a time of peace and amid boasts of con-
tinued and increasing prosperity, the
administration Will ask Congress to
authorize the issue of sufficient GUAM
tity of gold bonds to refund the entire
bonded Indebtedness of the country
and to add hundred or two million
to the gold reserve fund. Some of the
arguments advanced in favor of the
change are little short of ludricous.
For instance, when Mr.. Gage says that
making our entire bonded indebted.
ness payable in gold "would strength
Ell aud confirm the public credit and
put US in a condition to command the
markets of the world for our securities
on the most advantageous terms.n
Every school boy knows that we al
ready occupy that position; that the
securities of 10 country on earth are
in greater demand all over the world
than those of the United States.
MIR. Gage repeats the Cleveland-C Car
Isle recommendation that the green
backs and treasury notes be retired,
and oilers as substitute the probable
increase of National bank notes that
would follow the adoption of his recon-
mendation to allow National Banks to
be established with capital of $25. 900
in towns of less than 1000 inhabitants
and to allow all National banks to is.
sue notes to the par value of the bonds
they have deposited with the govern
ment to secure their circulation. Taken
all in all, the financial recommend
tons of the present administration
bear close resemblance to those of the
CIeveland-Carlisle regime, and the fol-
lowing words written by Mr.. Gage
after telling how prosperous the cour-
try Is now on account of the bountiful
crops. etc., indicate that the admins
tration might even follow Mr.. Cleve-
lands example in giving the country
a financial object lesson to impress its
views upon Congress: "Unfortunately
these good conditions cannot be as
sured to Us. Commerce aud industry,
sensitive to all unfavorable events, and
watchtul with anxiety against dangers
as yet unseen, need for their full re-
habllitation from past reverses and de
pressions, a renewed confidence that
the governments finances are to be
placed on stronger and more enduring
foundations than now exist" In other
words, the establishment of the single
gold standard by law, instead of bv the
Will OF an administration, as at pres.
ent, is demanded. The difference be-
tween demanding and getting from
Congress will soon be apparent to the
administration.
How the Dingley tariff law acts 10
reduce our trade with MeXico-trade
which naturally belongs to us, is
shown 10y the following remarks of
Mr.. Il. IL. Stillson, now in Washing
ton, who has been in Mexico for fifteen
years, as manager of PHILADELPHIA
silver mining company: "This coun-
try, think, is not pursuing exactly
fhA rIuhI nnlinu in nc ~
ico We ought, by right of contiguity
10 nave almost monopoly of the trade
OF the sister republic. Everybody
knows that instead of buying the bulk
of its imports from the United States
that Mexico prefers to get them of
France aud Germany. The reason for
this is that we have put high tariff
on Mexican products. and so the Diaz
government thinks proper to get back
at us by levying stiff duty on Amer
lean wares. The goods of France and
other foreign countries are not so heav-
lily taxed, and therefore crowd yankee
products out of the market. AS long
as we levy such high tribute against
them, we may expect to see their
trade almost monopolized by trans-At-
lantic countries.u
Notwithstanding the jollying that
Attorney-General McKenna has been
publicly giving himself for his work in
helping the Huntington syndicate
make sure of getting the Union Pacific
Railroad at price admitted TO be
many millions below the actual value
OF the property, he is said to fear that
II may keep him out of that coveted
seat on the bench Of the United States
Supreme Court, to which he will be
nominated in few weeks. He knows
that there are a number of Senetors
VINO are thoroughly posted ON this
whole Union Pacific business, and he
has dread lest they should see BIT TO
either hold up or defeat his nomination
to succeed Justice Field, as punish