Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1897-12-07

dents message to congress is as follows:
To the Senate and House of Representatives:
1t gives me pleasure to extend greeting
to the Fifty fifth congress assembled in
regular session at the seat of government,
with many of whose senators and repre-
sentatives l have been associated in the
legislative service Their meeting occurs
under felicitous conditions, justifying
sincere congratulation and calling for our
grateful acknowledgement to a benefcent
Providence which has so signally blessed
and prospered us as nation. Peace and
and good will with all the nations OF the
earth continue unbroken A matter Of
genuine satisfaction is the growing feeling
of fraternal regard and unification of all
sections os our country, the incomplete
ness of which has too long delayed the
realization of the highest blessings of the
Union. The spirit of patriotism is uni
versal and is ever increasing in fervor.
The public questions which now most en-
gross us are lifted far above either parts-
anship, prejudice or former sectional diff
ferences. They effect every part of our
common country alike and permit of no
division on ancient lines. Questions of
foreign policy, of revenue, the soundness
of the currency, the inyiolability of ma
tional obligations, the improvement of
the public service, appeal to the individ-
nal conscience of every earnest citizen to
whatever party he belongs or in what
ever section of the country he may re-
side.
The extra session of this congress which
Iclosed during July last enacted important
Legislation, and while it's effect has not
vet been realized, what it has already ac-
complished assures us of it's timeliness
land wisdom. To test its permanent value
further time will be required and the PEG.
pie, satisfied with its operations and re-
f1,. LII, Il
from it a fair trial.
Views on the Currency.
Tariff legislation having been settled by
the extra session of congress the question
next pressing for consideration is that of
the currency.
The work of putting our finances upon
a sound basis difficult as it may seem,
will appear easier when we recall the
financial operations of the government
since 1866 On the Both day of June of
that year we had outstanding demand
liabilities in the sum of 1928, SOS, Az. Al.
On the 1st of January 1879, these liabili.
tiles had been reduced to $443, SS9, 495. So.
OF our interest-bearing obligations, the
figures are even more striking. On July
l, 1866, the principal of the interest bear
ing debt of the government was 81, 1892,
331 ,208. On the 1st day of July, 1898,
this sum had been reduced to $685., 037 100,
or an aggregate reduction of 81, 747, 1894,
los. The interest bearing debt of the
United States on the lst day of Deem
Der, 1897 was $S47 365, $50 The govern
ment money now out ,anding December
y consists Vi ST. GoI ,Ol6 of United States
notes, $107, 793,2o0 of treasury notes is
sued by authority of the law of 1890,
1854, 963, 504 of silver certificates and SOL :
$50, 761 of standard silver dollars.
With the great resources of the govern
mpnt and with the hnnnra hln nYamf1la of
the past before us, we ought not to hest
tate to enter upon currency revision
which will make our demand obligations
less onerous to the government and re-
lieve our financial laws from ambiguity
and doubt.
The brief review of what was accom-
plished from the close of the war to 1898
makes unreasonable and groundless any
distrust either of our financial ability or
soundness; while the situation from 1898
to 1897 must admonish congress of the
immediate necessity of SO legislating as
TO make the return of the conditions then
prevailing impossible.
Many Plans Proposed.
There are many plans proposed as a
remedy for the evil. Before we can find
the true remedy we must appreciate the
real evil 1t is not that our currency OF
every kind is not good, for every dollar of
it is good, good because the governments
pledge is out to keep it so, and that pledge
will not be broken. However, the guar
anty Of our purpose to keep the pledge
will be best shown by advancing toward
it's fulfllment.
The evil of the present system is found
in the great cost to the government Of
maintaining the parity of our different
forms of money-that is, keeping all Of
them at par with gold. We surely cannot
he longer needless of the burden this i'm