Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1897-12-10

rests upon the government ana TIA Size
0f 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 tho country. with
sudicient receipts for the expenses Of the
government, we may feel no immediate
embarrassment from our present cur.
rency; but the danger still exists and
win be ever present, menacing US 80 long
AZ the existing system continues. And.
besides, 1t IL in times OF adequate rev.
enues 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. The
secretary Of the treasury has outlined
plan in great detail for the purpose OF re-
moving the threatened recurrence or
depleted gold reserve, and to save US from
future embarrassment on that account.
To this plan I invite your carefui con-
sideration.
Indorses Secretary Gage.
concur with the secretary Of the treas
urv in his recommendation that national
banks be allowed to issue notes to the
face value of the bonds which they nave
deposited for circulation. and that the
tax en- circulating notes secured by
deposit of such bonds be reduced to one
half Of one per cent per annum. also
Join him in recommending that authority
be given for the establishment of national
banks with minimum capital OF 49,
Co., This will enable the smaller VIII
lagos and agricultural regions of the
country to be supplied with currency 70
meet their needs.
I recommend that the issue Of national
bank notes be restricted to the denomina-
ton of SO and upward If the sugges-
tons have herein made shall have the
approval of congress. then l would rec
ommend that national banks be required
to redeem their notes in gold. The most
important problem with which this gov
eminent Is now called upon to deal per-
tanning to Its foreign relations concerns
its duty toward Spain and the Cuban in
surrecton. Problems and conditions
more or less in common 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 to-
ward larger enjoyment OF liberty ana
self-control: Of organized resistance 10 the
mother country; of depression after dis
tress and of warfare and OF inenectual
settlement to be followed by renewed re-
volt. For no enduring period since the
enfranchisement Of the continental pos
sessions Of Spain in the western conti-
nent has the condition Of Cuba or the
policy of Spain toward Cuba not caused
concern to the United States. The pros
pect from time to time that the weakness
of Spain's hold upon the island and the
political vicissitudes and embarrassments
Of the home government might lead to the
NJ cnntinpntdI
called forth, between 1923 and 1860. va
rious emphatic declarations of the pol
lev of the United States to permit no
disturbance of Cuba's connection with
Spain unless III the direction OF inde-
pendence or acquisition by us through
purchase-nor has there been any change
Of this declared policy since upon the
part of the government.