Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-12-06

The President TO-DAY sent the following
message to Congress:
THE MESSAGE.
To the Senate and House of Represent
atives:
1t gives me pleasure to extend greeting
to the Fifty fifth Congress. assembled in
regular session at the seat of Government,
with many CT whose Senators and Repre-
sentatives i have been associated in the
legislative service Their meeting occurs
under felicitous conditions. jus,ifying sin
cere congratulation and calling for our
grateful acknowledgment TO a benefcent
Providence which has so signaily blessed
and prospered us as a nation. Peace ard
good will with all the nations of the earth
continue unbroken.
A matter of genuine satisfaction is the
growing feeling of fraternal regard and
unification of all sections of our country,
the inCCmpleteness 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 en-
gross US are lifted far above either parti-
ferences. They affect every part Of our
common country alike and permit of no
division on ancient lines. Questions of
foreign policy. of revenue, the soundness of
the currency. the inviolabiity of national
obligations the improvement of the public
service. appeal to the individual conscience
of every earnest citizen to whatever party
he belongs in whatever section of the
country ne may reside.
THE CURRENCY QUESTION,
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 1t has already ac-
complished assures us of Its umeliness and
wisdom. To test its permanent value fur
ther time will be required and the people,
satisfied with its operation and results :hus
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 consideration is that OF
the currency.
The work of putting our finances upon a
sound basis. difficult as ii may seem, will
appear easier when we recall the financial
operations of the Government since 1866.
On the :hirtieth day of June of that year
We had outstanding demand liabilities in
the sun: of sI2s. IS, 44I.41. On the first of
January, 1879 these liabilities had been re-
duced to s+43. $50. 49,. IS. OF our interest
bearing obligations, the figures are even
more striking. on July !, 1866 the prn-
cipal of the Understanding deot Of the
Government was s. 80 333l 2OS. On the first
day of July. 1893. this sum had been reduced
to S5s5. .u3I 100 or an aggregate reduction
IT,. IL -,
of the United States on the first day of
December, 1897, was ss47 1856, GID. The Gov
ernment money now outstanding December
u consists Of 1886 .Ol6 of United States
notes. slo7. 1913, $50 of Treasury notes issued
by authority of the law of 1880. $is4, aS5 .I,Ol
of silver certificates. ard $G1 $50, I61 of
standard silver dollars.
With the great resources of the Gov, m
ment and with the honorable example of
the past before us. ought not to hesi-
tate TO enter upon 4 currency revision which
will make our demand obligations less
oEerous to the Government and relieve our
financial laws from ambiguity and doubt
The brief review of what was accom-
J,lshed from the close of the war TO 1888
makes unreasonable and groundless any
distrust either of our financial ability or
soundness: while the situation from 1893 to
1891 must admonish Congress of the inme-
Giate necessity of so legislating as 20 make
the return of the conditions then prevailing
impossible
There are many plans proposed as a rem
edy for the evil Before We can find the
true remedy must appreciate the real
evil /, is rot that currency of every
kind is not good. fer every dollar OF 1t is
good; good because the Government S
pledge is out TO keep 1t so, and that pledge
Will not be broken. However, the guaranty
of our purpose to keep the pledge will be
best shown by advancing toward its fulhIl.
ment.
Evil of the Present System.
,-he evil of the present system is found
in the great cost to the Government n,
maintaining the parity of our difYeren,
forms OF money, that is. keeping all q,
them at par with gold. We surely can no,
be longer needless of the burden this i'm.
poses upon the people. even under fairl,
prosperous conditions. while the past fou1
years have demonstrated that 1t Is not onI,
expensive charge upon the Government
but a dangerous menace to the Natona
credit.
1t is manifest that we must devise some
Continued on Seventh Pa9e)