The Meeker herald., 1898-12-10

: l tlO01l CIGuII II uOu1C 8n0 1UEO0u- a
marked evidence Of this II found in the
inflow of gold to the treasury. Its net
gold holdings ON November /, 1893.
were $239, ,SS5, ,1GO. n compared with
$153,373, 147 on November 1, 1897. and
IN increase of net cash Of 500, 1856 lOO
November l. 1897. TO $500. .23S, ,275, No
vember /, 1893. The present ratio of
net treasury gold to outstanding liabili-
ties, including United States notes of
1890, silver certificates, currency GER
titicates. standard silver dollars and
fractional silver coin November /, 1S9S.
was 25.35 per cent, as compared with
1896 per cent. November /, 1897
Il renew SO much Of my recOmmen-
dation Of December, 1897. as follows:
That when any of the United States
notes are presented for redemption and
are redeemed in gold, such notes shall
be kept and set apart. and only paid
out in exchange for gold This is an
obvious duty. If the holder of Unit
ed States note prefers gold and gets it
from the government. he should not
receive back from the United States
note without paying gold for it in ex-
change. The reason for this is made
all the more apparent when the govern
ment issues an issue-bearing debt TO
provide gold for the redemption Of
| 'hi'th hthteo u HOu-lultltSi~
bearing debt. Surely 1t should not pay
them out again except on demand. and
for gold. If 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 redeem misunderstanding
debt
This recommendation is made in the
belief that such provisions Of law would
insure to a greater degree the safety of
the present standard and better pro-
tect our currency from the dangers to
which 1t is subjected from Il disturb
ance In the general business conditions
OF the country. In my Judgment, the
present condition of the treasury justi-
fies the immediate enactment of the
legislation recommended one year ago.
under which portion of the gold hold
ings should be placed in trust fund
| from which greenbacks should be re-
deemed upon, presentation. but when
once redeemed should not thereafter
be paid out except for gold.
1T is not to be inferred that other leg
| islation relating to our currency is not
| required. On the contrary, there is an
obvious demand for it.
The Importance of adequate provis.
ion which will insure to our future
money standard related as our money
standard now Is to that of our CONNER
cial rivals. is generally recognized.
The companion proposition that Oul
domestic paper currency shall be kept
safe and vet be so related to the needs
Of our Industries and internal com.
merce as to be adequate and responsive
to such needs is a proposition scarcely
less important. The subject, in all its
parts, is commended to the wise con-
sideration of the Congress-
The subject of our maritime policy
receives the following notice:
1.-The annexation of Hawaii and the
changed relations of the United States
to Cuba, Porto Rico and the Philip +,
pines, resulting from the war, compel
the prompt adoption of maritime |
policy by frequent steamship cOmmu-
nication, encouraged by the United |
States under the American flag with |
the newly acquired islands. Spain I
furnished to its colonies, at an annual
cost of about $2,OOO,OOO. steamship
lines communicating with u portion of
the worlds markets. as well as with |
trade centers of the home government.
The United States will not undertake
to do less. 1t is our duty to furnish
the people of Hawaii with facilities
under national control for their export
and Import trade. 1t will be conceded
that the present situation calls for leg.
islation which shall be prompt, dura-
BILE and liberal.
'The part which American merchant
vessels and their seamen performed
In the war with Spain demonstrates
| that this service, furnishing both pick
cts and the second line of defense, is
national necessity and should be en-
couraged in every constitutional way.
"Details and methods for the accom-.
| plishment of this purpose are dis
cussed in the report of the secretary
OF the TREASURY. to which the atten-
| tiOn Of Congress is respectfully in
vited."
The following miscellaneous subjects
are mentiOned:
1.-The total receipts of the patent office
during the past year We're $1.253,-
94S.44. The expenditures were $1.GS1,-
G83.79. leaving surplus of $172,314.8 .85
AT the close of the year thirty for
estry reservations. not Including those
| Of the Afognac forest and the fish cul-
ture reserve, in Alaska, had been cre-
ated by executive proclamation under
section Of the act of March 3, 1891,
embracing an estimated area of T..
719,454 acres.
| 1.-The Department of the Interior has
| inaugurnted a forest system made
possible by the act of July, 1893. for a
| graded force of officers In control of
| the reserves. This system has only
been in full operation since August,
but good results have already been Sc
cured In many sections. The reports
received Indicate that the system of
patrol has not only prevented de-
structive fires from gaining headway.
but has diminished the number of
fires.
1.-THE alien contract law is shown by.
experience to need some amendment:
measure providing better protection
for seamen is proposed; the rightful
application of the eight-hOur law for