Gulf Coast breeze. [volume] (Crawfordville, Fla.) 1897-19??, 1897-12-10
THE PRESIDENTS MESSAGE.
A REVIEW OF THE AFFAIRS OF
CUR NATIONAL GOVERNMENT.
RECOMMENDATIONS TO CONGRESS.
Currency Reform and Cuban Question
The Most salient Features OF
the Document.

tutiNcb'
1t gives me pleasure to extend greet.
ing TO the Fitty.ffth congress assem-.
bled in regular session at the seat OF
government with many Of whose sen.
ators and representatives l have been
associated In the legislative ser.
vice. Their meeting occurs under 10.
'licitous conditions. justifying sincere
congratulation and calling for our CRATE.
full acknowledgment to benefcent
providence. which has 80 signally blessed
and prospered us as a nation. Peace
aud good will with oil the nations of
the earth continue unbroken.
A matter Of great satisfaction Is the
growing feeling OF fraterual regard and
unifcation OF all sections Of our coun.
try, the incompleteness OF which has too
long delay ed realization OF tho highest
blessing of the Union. The spirit OF
patriotism Ia universal and Ia ever In.
creasing In fervor. The public questions
which now most engross US are lifted
far above either partisapship, prejudices
or former sectional differences. They
affect every part of our common country
alike and permit OF no division on anci-
ent lines Questions OF foreign policy,
OF revenue. tho soundness OF the cur
rency. the inviolability OF national obli.
cations. the Improvement OF the public
service, appeal to the individual con.
science of every earnest citizen to what.
ever party he belongs or 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 IL
has already accomplished assures US OF
| its 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
trial.
Tariff legislation having been settled
by the extra session Of congress-. the
question next pressing for considera.
ton Is that of the currency.
The work Of putting our finances upon
a sound basis. difficult as 10 may seem.
will appear easier when we recall the
financial operations OF the government
since 1866. On June 10 OF that year We
had outstanding demand liabilities In
the sum OF S725. 1888, 447.4i. On Jan. l..
1872 these liabilities had been reduced
= &c I1l2ie2a - Ck our1htsfSst bear.
insa obligations. tthe figures are even
more striking. On July I. 1865, the
principal Of the interest bearing debt OF
the government was "a. 3S2. S3i, 208. On
July |, 1893. this sum had been reduced
TO 1855. 0S7, 100. or an aggregate reduo-
ton Of 81, TAT. 2S4. 1903 The interest bear.
ing debt Of the United on Dec |. 1897. |
Was $SI7. 1896. $40. The government
money now outstanding lDec. con.
sists Of $346, 8Si, 0i8 of United States
notes, sl07. 79s, $50 Of treasury notes Is.
sued by authority OF the law OF 1890.
$S44, 96s. 50l Of silver certificates, aud |
S6l, 1856, 78l OF standard silver dollars
No Time TO Hesitate.
With the great resources Of the gov.
ernment and with honorable example
OF the past before us, we ought not 20
hesitate to snter upon currency re-
vision which viii, make our demand OBJ
legations less onerous to the govern
ment and relieve our financial laws
from ambiguity and doubt
The brief review OF what was accom-.
plished from the close OF the war to
issS makes unreasonable and ground.
less any distrust. either OF our financial
ability or souudness; while the situation
from 1898 to 1897 must admonish con.
Qress Of the immediate necessity OF 30
iegislating "a to make the return OF the
conditions then prevailing impossible.
There are many plans proposed as
remedy for the real evil. 10 Is not that
our currency OF every kind Is not good.
for every dollar Of IL Is good-good be-
cause the governments pledge is out to
keep il so, and that pledge will not be
broken. However. the guaranty or our
purpose to keep the pledge will be best
shown by advancing toward Its fuinil'
ment
The evil Of the present system Is
found In the great cost to the govern
ment of maintaining the parity OF our
different forms Of money. that Is. keep
ing all Of them at par with gold. We
surely cannot be longer needless OF the
burden this imposes upon the people.
ever under fairly prosperous conditions.
while the past four years have demon.
strated that 10 10 not only aud expen.
awe charge upon the governments, but
dangerous menace to the national
credit
Il 10 manifest that we must devise
some plan to protect the government
against bond issues for repeated re.
demptiona We must either curtail
the opportunity for speculation, made
easy BY the multiplied redemptions OF
our demand obligations. or increase the
gold reserve for their redemption. We
have $500. 900. 900 of currency which the
government by solemn enactment has
undertaken to keep at par with gold.
Nobody Is obliged TO redeem IN gold but
the government. The banks are not
req uired to redeem In gold. The gov
ernment 10 obliged 60 keep equal with
gold all its outstanding currency and
| coin nnfatandinp while its receipts are