The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-12-07

OF it is devoted to two subjects. namely,
currency reform ana the Cuban question.
IN other portions of it the Hawaiian
treaty. civil service reform, international
bimetallism, the need of a larger mer-
chant marine and some other matters are
touched upon.
Attention is called TO the difficulty Of
keeping the different kinds Of money. for
which the government is responsible, on
a parity with gold. OF these kinds of money
there is about $500, 900. 90, and to maintain
confidence in this money the
government undertakes to keep
a reserve of 100000 in gold.
The government has no way TO get soiG
except by selling bonds, which is a very
unpopular way. The government has to
meet the assaults of Spectators in gold
when speculation in that metal is profit
able, and has to supply the demand for
gold for export when such a demand ex-
lists. II is evident that when there ts
trouble in financial affairs it is a difficult
task to make SlO0O00,000 carry $500 900, 900
of other kinds of money in which there
is a lack of confidence and to keep the
oIJo,pyurDVV reserve intact.
To enable the government to accom-
plish this the President recommends three
things: First that United States notes
" hen redeemed with gold, be paid out
only when gold is offered for them; sec
ond, that the law relating to bond sales
be amended so thai bonds bearing a lower
rate Of interest than is now permitted
could be sold and that national banks be
required TO redeem their notes in gold
With reference to national banks. how.
ever, several concessions are recommend
ed. One is that they be permitted to is
sue notes to the par value of the bonds
which are the basis of their notes; another
is that the tax on their circulation be re,
duced to one-half of one per cent. ana
that banks be chartered having only S25,
900 of capital This latter recommends
ton is intended to benefit communities in
which there is very little money in cir.
culation
1t is doubtful, however, if congress VIII
act favorably upon any of the recom-
mendations. though there doesn't appear
to be any good reason why those relating
to national banks should not be adopted.
Still, the silverites are against any legis.
lation that would have the effect of lessen
ing the demand for free silver coinage.
and many of those who favor currency
reform are opposed to any legislative ac-
ton that would have tendency to de-
lay sweeping reform.
The position the President takes in re.
spect to the Cuban question is not in ac-
cordance with popular sentiment, but it
will have the approval of the business In
terests of the country and pretty nearly
all others who have given that question
careful and candid consideration. The
| President believes that while a very sad
state of affairs has existed and still exists
in Cuba the insurgents have not succeed
| ed in showing that they have such attri-
| butes of statehood as justify them in de-
handing recognition as belligerents. Thus
Ear they have carried on a conflict which
does not rise to the terrible dignity OF
war. They have no capital, no leglsla-
| tive body, no means of administering the
laws, no ships and no ports 1t is the
| duty of this country, the President thinks.
to look out for its own interests before
| becoming involved in trouble with Spain,
a friendly nation, by reaching out a sym
| pathetic and helping hand to the insur-
! gents an Cuba. He thinks that Spain
| should have a chance to try the reforms
| in Cuba which she has proposed, and that
our government should not assume that
| in proposing these reforms she is not sim
cere. To recognize Cuba as a belliger-
ent would do the CAans very little ma
! terial good and might involve this coun-
try in very serious complications. The
President says that when the time comes
for granting Cuba belligerent rights the
chief executive will not hesitate to act
promptly
1t is somewhat remarkable that the
President, in the few sentences which ne
| devotes to Hawaii, should assume that
the Hawaiian people seek annexation OF
their own free will. The whole world
knows that the Hawaiians have never hal
a chance to say whether or not they favor
annexation. The understanding is that
they do not favor ii. 1t is true that the
Hawaiian government favors it, but the
government does not represent the peo-
pie 1t is an oligarchy. and represents
| besides the few Adventures who com
pose it., the three or four thousand Ameri-
cans who live IN the islands for business
reasons. II is not certain that all the
American residents regard it with appro-
! val. The native Hawaiians want the gov
| eminent which was overthrown by Presl-
dent Dole and his fellow conspirators. The
chances are that the Senate will not ratify
. the treaty. and that resolution of the
two houses of congress will have TO be
resorted to in order that the republican
party may carry out its purpose.
The President declares he is stin an ar
dent civil service reformer Nevertheless,
he let's it be understood that there are
now Offices IN the classified service which
he wants for his political friends. No
/ doubt he will find a way to get them.
The Presidents statement that we ought
TO do our own carrying trade and that
our ships should be seen in every port in
Gf,A