The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-12-07

Ism aud ReciproClty-Prlnciple ofciVt
!, Service Law Upheld But There arc Some
inequalities that Require Corrective
Legislation,
WASHINGTON, d. c., Dec. c,--Pres-
ident Mckinley sent his annual message
to Congress to-day, as follows:
To the Senate and House of Represen-
tatlves:
II gives NE pleasure to extend greet
ing TO the iifty-lifth Congress assent
bled in regular session at the. seat o.
government. With any OF whose sena-
tors and representatives have been as
ISOLATED in the Legislative service.
Their meeting occurs under felicitous
conditions, Justlfylng sincere congratu-
lation and calling for our grateful ao-
acknowledgement to beueiicent provi-
dence which has so signally blessed and
prospered US as n nation. Pence and
good VIII With all the nations OF the
earth continue unbrOken. A matter of
genuine satisfaction Is the growing feel
ing Of fraternal regard and unltication
OF all sections OF our country, the In
completeness OF which has too long de-
layed realization Of the highest bless
ings OF the Union. The spirit OF patri-
Otism is universal, and Is ever increas-
ing In feryor. The puollc questions
which now most engrOss us are lifted
far above either partlsanship, prejudice
or former sectional differences. They
affect every part of our common coun-
try alike and permit OF no division on
ancient lines Questions OF foreign pol
icy, of revenue. the soundness OF the cur
rency, the inviOlablllty OF national OBJ
legations, the Improvement OF the pub
lie service, appeal to the Individual con-
science of every earnest citizen to what
ever party he belongs ur In whatever
section of the country he may reside.
The extra session of this congress
which closed during July last enacted
important legislation, and while Its full
effect has not yet been realized. what it
has already accomplished assures us OF
It's timeliness 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 It fair
;rial.
Tariff legislation having been settled
by the extra session of congress. the
question next pressing for consldera-
tlon ls that Of the currency.
THE CURRENCY QUESTION,
The work of putting our finances upon
sound basis, difficult as 1t may seem,
will appear easier when we recall the
financial operations Of the government
Of 1866. on the 3Oth day Of June Of that
year we had outstanding demand liabil-
tiles In the sum of S72S. SGS, ,44L4L On
the first of January, 1870, these llablli-
ties had been reduced to Sii3, 4gjSS.
or our interest bearing obligations, the
figures are even more striking. on July
!, 1866, the principal Of the Interest,"
bearing debt of the government was
81. .3S2, 3Sl ,2OS. on the first day of July,
1898, this sum had been reduced to $685., -
037,lOO, or an aggregate reduction of
$,7i7, 29i los. The interest-bearlng debt
OF the United States on the first day OF
December 1897, was SSi7 1856, ,6eO. The
government money now outstanding
December u consists Of S3iG,6Sl,0l6 OF
United States notes, SlOI793,2SO OF treas
ury notes issued by authority pf the
law OF 1890. 1884, ,9GS, ,5O4 Of silver certih-
Gates, ana sci, ,2S0,161 of standard silver
dollars.
with the great resources Of the gov
ernment and with the honorable eS-
ample OF the past before US, we ought
not 10 hesitate to enter upon cur
reRcy revision which Will make our de-
mand obligations less onerous TO the
government and relieve our financial
laws from ambiguity and doubt.
The brief review OF what wns accom-
plished from the close of the war to 1893,
makes unreasonable and groundless
any dlstrust either OF our financial
ability or soundness; while the sltua-
tion from 1893 to 1897 must admonish
congress OF the immediate necessity of
go leglslating as to make the return of
the conditions then prevailing impossl-
bic.
There are many plang proposed as a
remedy for the cvil Before we can find
the true remedy we must appreciate the
renl evil. It Is not that our currency
Of every kind ls not good, for every doll
lar Of II Is good; good because the gov
Grnmentg pledge Is out 20 keep 1t 80,
and that pladgc win not be broken.
However the guaranty OF our purpose
to Keep the pledge win be best shown by
advancing toward Its funllmcnt,
EVIL or THE PRESENT SYSTEM.
The evil OF the present system is
found in the great cost to the govern
ment OF sustaining the parity OF our
different forms OF money, that IL, keep
ing all Of them nt par with gold, We
surely cannot bc longer Needless of tho
burden this imposes upon the people,
even undor fairly prosperous conditions,
while the past four years have dcmon-
Ptrnlud that II ~ not only an expensive
charge upon the government but n dan
gcroua menace to the national credit
II IN manIfCgt that We must devise
some plan to protect the government
ngnlnBt bond Bsuca for repeated rc-
dpmptlOnR We must either Curtnll the
opportunity for speculation, mOdy CnHy
by the multiplied rcdomptionB NJ our
demand Obligations, or increase the
gold upEcryc for their redemption. We
have 5000 900 900 of currency which The
government by solemn enactment hnH
undertaken To- keep nt par with gold,
Nobody W Obliged tu redeem w gold but
the governments The bHnltH are not ro-
uunud TO redeem In gOl1 The UuvCrn-
mpnl ia OBLIGED IN kOph equal with gold
all ltB outstanding currency ana coin
ohllratlunu, while ltH receipts are not
required tu W paid IN gold They are
pnli In every Kind off money hut gold,
ma the only mum1 10y which the nov.
prnmcrt cnn with certainty pot god 10
by borrowing II can ret It In no other
way when It most ncodp H. The rove