The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-07
THE MESSAGE.

The first message to be addressed by
President Mckinley to a regular ses-
sion of congress, and therefore the first
in which he has had occasion to eX-
press opinions comprehensive in their
scope, is a document of dignity and
force. Laying aside all partisan pref
udice and treating this utterance of
the official head of all parties and orr
people under the constitution with the
respect that it deserves, the opinion
of the careful reader must be that it
is the work of a man sincerely concern
ed to do his duty by the nation which
has honored him. Disagreeing heartily
and entirely as we do with certain por-
tons Of it, we wish at the outset to
commend its tone and the spirit of dig
nified American patriotism that pos
sesses most of it.
The bulk of the message is devoted to
the two pressing subjects of financial
reform and our foreign relations. With
a brief reference to the new tariff act,
of which Mr.. Mckinley himself prob
ably realizes that the least said is for
his party the BEST he at once attacks
the problem of financial legislation. On
this his opinions are expressed with
something more of positiveness than he
was wont to use in his campaign
speeches, and leave no doubt of his
money Nevertheless, in following the
main lines of the report of Secretary
Gage, he falls much short of what the
country has right to expect and de-
mand
The recommendations which he
makes are summed up, as has already
been limited in the press dispatches,
il d suggestion that the greenbacks,
when redeemed, should be paid out
only in exchange for gold; that
national banks should be allowed to
Issue notes to the face value of their
bond deposits; that the tax on circula-
ton should be reduced to one-half of
for establishing national bank should
be reduced to $4,000; that the issue of
national bank notes be restricted to de-
nominations of $40 and upwards, and
that national banks be required to re-
deem their notes in gold.
While putting forward these doc
trines, President Mckinley takes oc-
cas1on to nulltfy and shame the criti-
cisms of his party upon Mr.. Cleveland's
administration by announcing emphat-
ically that he will, if emergency arises,
pursue its policy. Declaring that, if
present conditions continue, bond is
sues may at any time become necessary
in order to maintain the gold standard,
he says: THE nation, without any fix
ed gold reveE>le, is pledged to maintain
gold redemption, which it has steadily
and faithfully done; and which, under
the authority now given, it will con-
tinue to do" This is Mr. Cleveland's
policy reiterated.
He further gives the lie to the as
sertions Of his party organs during the
last campaign by confessing what they
then knew to be the fact, as we all
know it, that the proceeds of the bond
sales were only partially required to
supply deficient revenues, and that the
real necessity for bond sales came in
order to maintain the gold reserve. He
dared not advert to the fact that the
tariff policy Of his own party has in
sured perpetual deficit. The value
of his recommendation is, therefore,
greatly impaired by the proviso which
he has attached to it. He says: st
earnestly recommend, as soon as the
receipts of the government are quite
sufficient to pay all the expenses of the
government" that greenbacks, when
redeemed, shall remain in the treasury
when paid for in gold.
Inasmuch as Secretary Gage him
self estimates the deficit for the year
ending on the 3Oth day of June at
$25,0O0,0G0, and there is every prospect
that these figures are as insufficient
as those of Mr.. Carlisle, the qualif1ca-
ton Of Mr.. Mckinley would postpone