The Chipley banner. (Chipley, Washington County, Fla.) 1893-1943, 1897-12-18
THE PRESIDENTS MESSAGE.
A REVIEW OF THE AFFAIRS OF
OUR NATIONAL GOVERNMENT.
RECOMMENDATIONS TO CONGRESS
Currency Reform and Cuban Question
The Most Salient Features of
the Document.
o the Senate and House of Rspresen.

II 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 sen.
ators and representatives I have been
associated In the legislative ser.
vice. Their meeting occurs under 70.
licitous conditions, justifying sincere
con Equalization and calling for our CRATE.
ful acknowledgement to q benefcent
providence. which has 80 sisnally blessed
and prospered us as nation. Peace
and good will with all the nations OF
1.-The earth continue unbroken.
growing feeling OF fraternal regard and
unifcation Of all sections Of our coun.
TRY, the incompleteness Of which has too
long delayed realisation of the highest
blessing Of the Union. The spirit of
patriotism Is universal and is ever in.
creasing in fervor. The public questions
which now most engross us are lifted
far above either partisanship, 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, the soundness of the cur.
fency, the inviolability OF national obi.
cations, the improvement Of the public
Service, appeal to the individual con.
science of every earnest citizen to what.
over 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 it
has already accomplished assures us Of
Ito timeliness and wisdom. To test its
permanent value further time will be
Required and the people, satisfied with
It's operation and results thus far. are
in no mind to withhold from it a fair
trial.
Tariff legislation having been settled
by the extra session of congress. the
question next pressing for considera.
hon is that OF the currency.
The work of putting our finances upon
sound basis, difficult as 1t may seem.
will appear easier when we recall the
financial operations OF the government
bince 1866. On June l6 of that year we
bad outstanding demand liabilities in
he sum of $728. 1888, 4474 On Jan. /.
S79, these liabilities had been reduced
10 s443.SS9, 495 S8. or our interest bear
ng obligations, 1.-THE figures are even
more striking. On July /, 1865, the
principal Of the interest bearing debt of
he government was 81, 1884,, 1881, 208. On
July ], 1893. this sum had been reduced
10 $685. 0S7, 100, or an aggregate reduc.
ion Of 81, TAI, 1854. 108. The interest bear.
ing debt of the United on Dec. /, 1897.
vas $S47, 1856. $40. The government
honey now outstanding (Dec. ~ con.
lists OF S346. 6Sl, 016 Of United States
Potes, $l07, 793, $50 Of treasury notes is
ued by authority Of the law of 1890,
S44, $685. 504 Of silver certificates, and
6l,2S6, 76l Of standard silver dollars.
No Time to Hesitate.
With the great resources of the gov.
rnment and with honorable example
the past before Us. we ought not to
estate to enter upon q currency re.
lsion which will. make our demand OBJ
cations less onerous to the govern
rent and relieve our financial laws
om ambig guilty and doubt
The brief review of what was accom-.
ished from the close of the war to
esS makes unreasonable and ground.
ss any distrust, either of our financial
bllity or soundness; while the situation
ON 1898 to 1897 must admonish con.
ess OF the immediate necessity Of so
gsiating as to make the return of the
P ne then prevailing impossible
mere are many plans proposed as
medy for the real evil. 1t Is not that
currency Of every kind IL not good,
every dollar Of 1t Is good-good be.
use the governments pledge is out to
q hso. and that pledge will not be
oxen. However, the guaranty OF our
fpose to keep the pledge will be best
Own by advancing toward its fulfill.
The evil of the present system is
uha In the great cost to the govern.
sn' OF maintaining the parity of our
nsfent forms Of money, that is. keep.
al OF them at par with gold. We
,s,y cannot be longer needless Of the
iuen this imposes upon the people,
NJ NJ under fairly prosperous conditions,
e ne past four years have demon.
s'ea that IL 10 not only and expen.
charge upon the government, but
SSangerous menace to the national
manifest that we must devise
s;s! pan to protect the government
m n,uss pond issues for repeated re.
pnohs. We must either curtail
opportunity for speculation, made
the multiplied redemptions OF
temand obligations. or increase the
y. ,ss na for their redemption. We
va 1000. 900 Of currency which the
d .,anent BY solemn enactment has
pbods ssen 70 keep At par with gold.
W! Is obliged to redeem In gold but
nv; kosernment. The banks are not
m u,.ea TO redeem in gold. The gov.
1. pay 10 obliged to keep equal with
\ oS It's outstanding currency and
Outstanding, while its receipts are
NY. yaifed TO be paid in gold. They
u IN every kind Of money but
ys =, ana the only means BY which the
\, NJ ment can with Certainty get gold
y, Borrowing. II can ret IL in no
way when u most needs a. The