The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1897-12-10
MKINLEY'S MESSAGE
Tie President Sends q Communica-
ton to the Fifty-E1fth Congress
CURRENCY PROBLEM TOUCHED upon
Cur Foresza ReIasIons-The Cuban Trouble
-rhs HaEaiIan IsIands-Ehs Blnetal-
lie CommlssIoa-Internatl0
AEbItration-AIaska-T
Indian Problem
Etc, Etc.

WASHINGTON, Dec. 6.-President Nc
Kinley sent the following message to
both houses Of the Fifty-Fifth con.
gress:
10 the Senate and House Of Representatives,:
Il gives ne pleasure to extend greeting 70 the
Efty-Elfth congress assembled IL regular ses-
asion at the seat Of government. with many e
whose senator's and representative have
been associated In the legislative service
Their meeting occurs under felicftous condi-
tons 1ustifying sincere cOugratulatiOn and
calling for our grateful acknowledgment to
beuehcent Providence which has so siZnaIly
blessed and prospered US as . nation. Peace
and good VIII with al the nations OF the earth
conEzZs unbrOken-
All Sections Are Unified.
A matter q genuine satisfaction is she grow
ing feeling and fraternaI regard aad unfacation
q al sections q cur country, the incomplete
ness Of which has too long delayed realization
Of the highest blessings o. the union The
spirit OF patriotism IS universal and Is ever in
creassng In ferTor. Ths public questions
which nOT most elgrOss Us are lifted Tar above
either partisanship, prejudice OF former sec
sional Differences They AFFECT every part Of
our common country alike and Dermit OF no di-
vision On ancient lines Questions OF foreign
policy, q revenue, the soundness Of the cur
reney, the fnFf0lability OF national obligations.
tne Improvement o. the public service, appeal
% the Individual conscience of every earnest
citizen 70 whatever party he belongs OF in
Whatever section Of the country he may reside
Endorses Special Session Legislation.
The extra session Of this congress which
closed during July last, enacted important
legislation and while its fun eject has not vet
been realized, what &c has already accomplished
assures Us OF its timeliness ana wisdom To
test its permanent value further time viii be
required and the people, satisfied with its
operation and results thus far, are u no mind
- Withhold from It fair trial
THE CURRENCY PROBLEM.
Tariff legislation having been settled - The
extra session Of congress, the question next
pressing for consideration is that OF the cur
EencT- TIE N0riz o. Fltting our finances upon
sound basis. dincult IS It may seem. viii appear
easier Wha1 We recall the financial operation OF
the government since 1864 On the Soth day Of
: une Of that year We had outstanding demand
EabDtSies in the sum Of tT2s s55 547-4L On the
Is OF January, 1879, these liabilities had been
reduced 20 e443. $50, s25ea o. our intsrest-5ear-
Ing obligations the figures are even more
striking On July I, 1853 the principal OF the
Lnterest-bearing debt Of the government was
s2s72 81 r20& On the Is day OF July. 1893. this
sum had been reduced TO s5S5. 0S7. 100. or az
create reduction Of =. n Pa los The inter
est-bearing debt Of the United States on the
lst day OF December, 1897, was sSFT.365 63O-
The government money now outstanding de
cemher - consists Of S346. 65i Ol6 Of United
States notes, s107. "a 80 CT treasury notes is
sued b. authority OF the law OF 1890 1854 $50 500
OF silver certificates and sol go 76l Of standard
silver dollars.
With the great resources Of the Government
and the honorable example Of the past before
rs We ought not 20 hesitate 10 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 1853 makes
unreasonable and grOundless any distrust either
OF our hn1Ecial ability or SOundness, while the
situation from 1895 co 1927 must admOuiSh con-
Of The IN To-
ing IS to make the return Of the conditions
then prevailing impossible
there are many plans proposed as q remedy
Tor the evil Before we can ind the true
remedy We must apprehend the real evil It 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 il so, and
that pledge Will lot be broken. However. The
guaranty Of or purpose TO keep the pledge
will be best shown BY advancing toward its
fuldIlment The evil Of the present system Is
found in the great cost Of the government Of
maintaining the parity OF our different forms
OF money, that is, keeping al OF them at par
with gold We surely cannot be longer heed
less Of the burden this imposes upon the peO-
pie, even under fairly prosperous conditions
while the past four years have demonstrated
that 1t IS not only an expensive charge upon the
government, bus 4 dangerous menace to the
national credit
Il is manifest that we must devise some plan
TO protect the government against bond issues
for repeated redemptiOns- We must either
curtail the opportunity for speculation, made
easy by The multiplied redemptions Of our de-
mand obligations, or Increase the gold reserve
for their redemption We have 10000. 900 Of
currency which the government by solemn en-
actmsnt has undertaken to keep at par with
gold Nobody is Obliged to redeem in gold but
the government The banks are not required
70 redeem in gold The government is Obliged
60 keep equal with gold all its outstanding cur
rency and coin obligations. while its receipts
are not required to be paid in gold They are
paid in every kind OF money but gold. and the
only means by which the government can with
certainty get gold is By borrowing It can get
Il in no other way when IL most eedS it The
government without any fixed revenue Is
pledged to maintain gold redemption, which it
has steadily and faithfully done and which
under the authority now given it win continue
60 DO.
RedenptIOn OF Governments Notes
The law which requires the government after
having redeemed its notes TO pay them out
again as current funds demands q constant re-
plenishrent OF the gold reserve This IS espe-
c1ally 50 In times Of business panic and when
the revenues are insufficient % meet the ex-
penses Of the government a. such times the
government has no other way TO supply its de-
fcit and maintain redemption but through the
Increase OF its bonded debs Thus in the ad-
ministratiOu- OF ny predecessor, s25S3l5,
go o. ~ per cent bonds were issued and sold
and the urocee7s rses7 70 rflv the evDenses OF
the government IN excess Of the revenues and
sustain the gold reserve While l. Is true that
the greater part OF The proceeds Of these bonds
were used 70 supply deficient revenues, a con
siderable portion was required 70 maintain the
god reserve
Win our revenues equal 20 our expenses.
there would be no deficit requiring the issu-
ancc OF bonds But II the gold reserve falls
below 500 co. 90 how VIII &c be replenished ex-
cept BY selling more bondss Is there any other
way practicable under existing law The Sc
zfous question then is. shall We continue the
policy that has been pursued in the past that
IS when the gold reserve reaches the p0ins OF
danger issue more bonds ana supply the needed
gold OF snail We provide other means to pre-
vent these recurring drains upon tbs gold re-
szrFef II no further legislation is had ana the
policy OF selling bon1s IS 20 be continued. then
congress should give the secretary o. the treas
my authority % SAL bonds af long OF short Pc
-fcds. bsarin7 less -aes q interest
thzn IS now authorized b. law. I ear
1estlT recommend IS soon IS tbs receipts /
81 tEs goTs-nmsns are quite sulncisut 70 pay
ali the expenses % tl7 government t11E When Z
a-T a ths United states notes ars plessnted
f0r redemption i1 gold and are EedeeZ1ea 10 4
5z1ll such notes shan De- kept and set apart. I
E15 only paid cut 81 sEchauEs fer gold This
3 60 cbFt0uz duty q tts t1idor @ s1s I1itad I
-ztr FrFfcr- - rr-c and Te- Il ffc-7