Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1897-12-11
THE MESSAGE.

To the Senate and House of Repre-
sentatives:
1t gives me pleasure to extend greet
ing to the Fifty-fifth congress assem-
bled in regular session at the seat OF
government. with MANY of whose sena-
tors and representatives / have been
associated in the legislative service.
Their meeting occurs under felicitous
circumstances, justifying sincere con-
graduation and calling for our grateful
acknowledgment to beneficent Provi-
dence which has so signally blessed and
prospered us as a nation. Peace and
goodwill with all the nations of the
earth continue unbroken.
A matter of genuine satisfaction is
the growing feeling of fraternal regard
and unilcation Of all sections of our
country, the incornpleteness of which
has too long delayed realization of the
highest blessings of the Union. The
spirit of patriotism is universal, and is
ever increasing in fervor. The public
questions which now most engross us
are lifted far above either PARTISAN
ship, prejudice or former sectional diff
ferenees. They affect every part of our
common country alike and permit of no
division on ancient lines. Questions of
1OlClSh Pbti1}, u lCNShhNt tAC GNdAiN7
ness of the currency, the inviolability
of national obligations, the improve
ment of the public service, appeal to
the individual conscience of every earn
est citizen to whatever party. he be-
longs or in whatever section of the
country he may reside.
The extra session of this congress,
which closed during July last, enacted
i'm, q f,f 1aUicfaf{on Unila tic
full effect has not yet been realized,
what it has already accomplished as
sures us of it's timeliness and wisdom.
To test its permanent value further
time win be required, and the people,
satisfied with it's 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 consideration
is that of the currency.
THE FINANCIAL PROBLEM.
The work of putting our finances upon
sound basis, difficult as it may seem,
viii appear easier when we recall the
financial operations of the government
since 1866. With the great resources
of the government and with the hon
ought not to hesitate to enter upon
currency revision which viii make
our demand obligations less onerous
to the government and relieve our
financial laws from ambiguity and
doubt
The brief review of what was accom-
plished from the close of the war to
1898 makes unreasonable and ground
less any distrust either of our financial
ability or soundness, while the situa-
ton from 1893 to 1897 must admonish
congress of the immediate necessity of
so legislating as to make the return of
the conditions then prevailing impossi-
BILE.
There are many plans proposed as a
remedy for the evil. Before we can
find the true remedy we must appre-
ciate the real evil 1t is not that our
currency of every kind is not good. for
every dollar of it is good; good because
the governments pledge is out to keep
it so, and that pledge will not be brok-
en-. However the guaranty of our pur-
pose to keep the pledge win be best
shown by advancing toward its full
fillment.
The evil of the present system is
ment of maintaining the parity of our
different forms of money-that is. keep
ing all of them at par with god we
surely cannot be longer Needless of the |
burden this imposes upon the people,
even under fairly prosperous condi-
lions, while the past four years have /
demonstrated that ii is not only expen-
sive charge upon the government, but
danperOus menace to the national
credit.
1t Is manifest that we must devise
some plan to protect the government |
against bond issues for repeated re-
demptions We must either curtail the !
opportunity for speculation, made easy
by the multiplied redemptions Of our
demand obligations. or increase the 1
gold reserve for their redemption. we
have 5000, 600 600 of currency which the /
government by solemn enactment has I
undertaken to keep at par with gold I
Nobody is obliged to redeem in gold /
but the government. The government +
is obliged to keep equal with gold all its I
outstanding currency and coin obi /
cations, while its receipts are not re-
CURED to be paid in gold. and the only 1
means by which the government can /
with certainty get gold is by borrowing. /
The government without any fixed gold /
revenue is pledged to maintain gold re-
demption, which 1t has steadily and I
faithfully done. and which under the (
authority now given 1t will continue T
to do.
REPLENIsHING GOLD RESERVE. /
The law which requires the govern
ment after having redeemed its United 1
IN. a..