The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-12-07
THE i, EssAGH or THE PRESIDENT.

The Virginlan presents this morning
a. full press synopsis OF The message OF
the President. delivered yesterday.
After congratulatlng Congress upon the
blessings bestowed by Providence. the
enjoyment OF peace and good will with
all nations, and the growing spirit OF
fra,er,al regard and patriotism pre-
railing throughout the country. the
President enters upon the presenta tion
Of his Views upon the issues and sub
tects demanding attention. He first
deals with the currency question. He
considers that G. review OF what has
been accomplished from the close Of the
war to 1893 makes unreasonable and
Eroundlcss any dlstrust either for Our
financial ability or soundness, while
the situation from 1893 to 1897 must
admon!sh Congress Of the immediate
necessity of so legIslating as to make
the, return OF the conditions then pre-
vuiiing impossible. The evil of the pres
cnt system, the President considers. Is
due - the great cost to the Govern
fncnt OF maintaining the parity OF our
d!ffcrcN; forms OF money. that Is keep
ing I'll Of them at par with gold, and
he considers II manifest that some
plan must be devised TO protect the
Government against bond issues for re-
pcated redemption. We must he says,
either curtall the opportunity for specu-
lation, made easy by the multiplied re-
dcmptlon of our demand obligations, or
ho Gov
dempt!on. The law which requires the
Government, after having redeemed its
United States notes, to pay them out
again us current funds. demands a con-
slant replenlshment OF the gold re-
serve, and he recommends that as soon
as the receipts of the Government are
sufficient to pay all the expenses, that
when United States notes are presented
for redemption in gold and are re-
deemed In gold, such notes shall be
kept and set apart and only hereafter
paid out In exchange for gold. If, lie
says. they are put out in any other way
they may return, again, to be followed
by another bond issue to redeem them
another interest bearing debt to re-
deem a Notwithstanding debt. He
CO. ours with the recommendation of
the Secretary of the Treasury, that ma
tional banks be allowed TO issue notes
to the face value of the bonds deposited
for circulation. and that the tax on cir
culatIng notes, secured by deposit of
such bonds, be reduced to one-half of
one per cent
The President dcvotes n great deal
OF his message TO the discussion OF the
Cuban question, which he considers Is
one OF the most important problems
which the Government Is called upon to
deal with. He points out that our Mol-
ister to Spain was directed TO Impress
upon that Government the sincere wish
of the United States to lend Its aid to-
wards ending the war, by reaching a
peaceful and lasting result, lust and
honorable alike to Spain and the Cuban
people He refers to the change in the
Spanish Cabinet. and states that the
reply of Spain declares that the pres
ent Government Is bound by every con-
sidcration to change OF policy that
should satisfy the United States and
pacify Cuba within q reasonable time.
The President considers that the recog-
nlticn of the bclligerency OF the Cuban
insurgents would now be unwise. AS
to the matter Of intervention. he asks
whether this step should be taken,
when 1t Is apparent that n hopeful
change has supervened In the policy
nf lin,
due to Spain that she should be given
a reasonable time TO realize her ex-
pectatlons and to prove the asserted
efficiency of the new order OF things to
which she stands irrevoca6ry com
mitted. The annexation Of Hawaii ia
favorably advocated.
On the subject Of an International
coinage agreement. the President points
to the fact that special cnvoys OF the
United States were unable uD to this
time to obtain. the cooperation Of Eu-
ropean countries. The action OF France
in joining this country in the effort he
| looks upon as gratifying, and regards
1t as an assurance that we are not
alone among the larger nations in the
desire to reach some practical solution
OF the problem. 1t is, he says, to be
earnestly hoped that the labors Of the
ENJOYS may result in an international
agreement which will bring about rec
ogn!tion of both gold and silver MS
| money upon such terms and with such
safeguards as will secure the use of
both metals upon basis which shall
work no Injustice TO any class of our
citizens.
Discussing the subject of the navy,
the President regards it as of great
Importance thas Congress should pro-
vide for the armor for the thrnn hattla-