The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1897-12-10

| from the government UnIUrI uVue
! without paying gold in exchange for it The
reason for this is made all the more apparent
when the government issues an Understanding
note to provide gold for the redemption Of
United States notes-a non-int crest bearing
debt Surely it should not pay them out again
| except on demand and for gold If they are put
! out in any other way they may return again to
be followed by another bond issue to redeem
them-another Understanding debt to redeem
a non-intereSt bearing debt
Providing Gold for Business.
! In my view it is Of the utmost importance
that the government should be relieved from
the business of providing all the gold required
/ for exchange and export This responsibility
| Is alone borne by the government without any
Of the usual and necessary banking powers to
help itself The banks do not feel the strain
of the gold redemption. The whole strain
rests upon the government and the size Of the
gold reserve in the treasury has come to be,
with or without reason, the signal Of danger
or OF security. This ought to be stopped. II
we are to have an era of prosperity in the
country with sufficient receipts for the ex-
penSeS of the government, we may feel no i'm
mediate embarrassment from our present cur
rency; but the danger still exists and will be
ever present menacing US so long as the existing
system continues. And besides it is in times
of adequate revenues and business tranquility
that the government should prepare for the
worst We cannot avoid without serious con-
sequences the wise consideration and prompt
solution Of this question.
Secretary Cages Plan.
The secretary Of the treasury has outlined a
plan in great detail for the purpose of remov-
ing the threatened recurrence Of q depleted
gold reserve and save US from future embar-
raSSment on that account To this plan l in
yite your careful consideration. / concur with
the secretary OF the treasury in his recommen-
dation that national banks be allowed to issue
notes to the face value Of the bonds which they
deposited for circulation, and that the tax on
circulating notes secured by deposit Of such
bonds be reduced to one-hah of one per cent
per annum- l also join him in recommending
that authority be given for the establishment
of national banks with a minimum capital Of
S25. OO0 This will enable the smaller villages
and agricultural regions of the country to be
supplied with currency to meet their needs
recommend that the issue OF national bank
notes be restricted to the denomination OF $40
and upwards. II the suggestions have herein
made shall have the approval of congress, then
1 would recommend that national banks be re-
quired to redeem their notes in gold
FOREIGN RELATIONs.
The most important problem with which
this government is now called to deal pertain
ing to its foreign relations, concerns its duty
toward Spain and the Cuban insurrection.
Problems and conditions more or less in COM
mon with those now existing have confronted
this government at various times in the past
The story of Cuba for many years has been one
of unrest; growing discomfort: an effort toward
a larger enjoyment OF liberty and Self-control;
of organized resistance to the mother country;
of depression after distress and warfare. and
of Intellectual settlement to be followed by re-
newed revolt For no enduring period since
the acknowledgements Of thu continental posses
sion of Spain in the western continent has the
condition OF Cuba. or the policy of Spain to-
ward Cuba not caused concern to the United
States
The War in Cuba
The present Instruction broke out in Febru-
airy. 1895. 1t is not my purpose at this time to
recall its remarka bic increase or to character
ize its tenacious resistance against the enor-
nous forces massed against it by Spain The
revolt and the efforts to subdue it carried de-
struction to every quarter of the island devel-
oping wide proportions and defying the efforts
of Spain for its suppression The civilized
code Of war has been disregarded. no less SO by
the Spdniards than by the Cubans The exist
ing conditions cannot but I'LL this government
and the American people with the gravest ap-
prehenSion. There is no desire OH the part of
our people to profit by the misfortunes Of
Spain We have only the desire to see the
Cubans prosperous and contented. enjoying