The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-11-07

OF These liabilities amounts to 5000 600, 900.
1t Ia not by this Intended to convey the
idea that the government Will ever be
called upon TO pay at any one time or over
amy one period of time. however protract-
cd. the total OF liability thus shown. 1t is
however, indispensable that the treasury
be endowed with power and resources am
pie to meet all claimants that may come,
with margin sufficient to give full assur-
ance to all that do not come, that its pow
or for continuance is unimpalred. The
statement that the traditional 800, 900 900
OF gold reserve is insufficient for these
purposes need not be supported by argu-
ment. 1t is manifest The recognized
iltadequacy OF that amount has on more
than one occasion brought fear and de-
rangement to all interests Industrial. COM
merclal. and financial. The losses sur
iersd by the body polite through these
'hcrangements having their origin In the
stale or tho public treasury--can not be
named. Ii Is not beyond the limit of
reasonable estimate to say that the total
OF such losses exceeds tho total OF the de-
mand liabilities OF the treasury as above
set forth. II It be urged In answer to
these considerations that the state of the
treasury Is fairly satisfactory now, that
gold is flowing freely toward the treasury
and not away from It; that there Is n good
state OF confidence In our financial status
1.-The answer must be received as a per-
fectly correct one. 1t might be further
urged with probable truth that these ia
vorahle conditions will endure for an in
definite period,
FAITH IN GOVERNMENT FINANCES.
with public revenues sufficient for pub
lie expenditures, and u reasonable surplus
accommodating; with trade relations nor
mall with ample crops carrying fair
rewards to agriculture; with no war
or vell-defned rumors OF war, we
might 20 on with a growing sense
of security. Unfortunately these good
conditions can not be assured to us.
Commerce and industry sensitive to all
unfavonble events, aud watchfui with
anxiety against dangers as yet unseen,
need for their full rehabilitation from
past reverses and depression u removed
confluence that the governments finances
are TO be firmly placed on stronger and
more enduring foundations than now
exist.
as long MS tho government Shall oper-
ate to any important extent In supplying
me currency OF the country, either bv the
direct Issues OF its notes or by maintains
ihs, through Its guarantees OF parity. so
'arse volume of silver money. so long
WIZ there remain n state of deep dcpen-
ueney IN all our trade and industries upon
the financial wisdom, foresight and colr-
eye on the part OF congress This forced
uepehdency on tho one part begets cor
responding responsibility on the other.
Sonsiuered from the standpoint of Ma
uohai eeiense. the argument is re.on
forced We appropriate millions To
create navy. which, through the genius
OF invention, may speedily become obso
| susv ana worthless. We appropriate other
niiohs % provide coast iefenscs against
attacks which may never be made. Such
acuoh, timely and wise as 1t may be. is
inconsistent with treasury condition AZ
eStehued in a time or peace as to hiring
pane ana alarm to our own poodle at the
hrst sound Of the eueny's guns. In mod
ern days a wcll-supplied war chest, With
an impregnablo credit. is as Important az
are warships, shore batteries, or regi.
ments OF men ~
me advantages Of strong position IN
tho National treasury--with ia acro,,-
lanying benefits to all commercial inter.
es,s.-ahu great reinforcement 10 the
r pubic credit, can, believe. ae secured
A wilho'h any unsettiin. Legislation In
manner easy 10 be comprehended l,v all.
ana without cost to the people.
fhe recommendations i take thu lin.
srv 20 make must be construed as tcrta
- W. Steps IN direction wrich, il con
ss'snuy pursued. viii ultimately lad (,
uonditions theoretically desir,nle rs,he,
tnar as being In themselves Anal meas
ures to that end The condition. az ~,
ueasury 10 Its relation to demand obl,rp
uons REQUIRES that one Of two stems ~
snken' the one may be large re- enforce
nS Snt 20 the permanent gold reserve Tn
a - H' sss NY w ne OK an important reduction