The state herald., 1898-12-09
rayer for the continuance of his ia.

The President then narrates the cii
cumstances leading to the signing O
the protocol and says that "the negc
tiations have made hopeful progress
SO that ! trust soon to be able to la
definite treaty of peace before tn
Senate, with review of the step
leading TO its signature"
or the question of the future govern
ment of the new colonies the mcssag
says:
II do not discuss at this time the gov
ernment or the future of the new pos
sessions which will come to us as tn
result of the war with Spain. Such
discussion VIII be appropriate afte
the treaty of peace shall he ratified
IN the meantime, and until Congress
mas legislatcd otherwise II will be m,
duty TO continue the military govern
mcnt which has existed since our oc
cupntion, and give its people securit.
In life and property and encourage
mcnt under just and bcneflccnt rule
AS soon ms we are in possession o
Cuba and have paciticd the island 4
Will be necessary to give aid and di
rection TO this people TO form gov
ernment for themselves. This SHOULD
he undertaken at the earliest moment
consistent with safety and assured
success. II is important that our re-
lations with these people shall he OF
the most friendly character, and oui
commercial relations close and recip
rocal. II should he our duty TO assist
In every proper way to build up The
waste places of the island, encourag,
the industry of the people and assist
them TO form government whicl
SHALL be free and independent. thus
realizing the best aspirations of the
Cuban people.
spanish rule must he replaced by {
| just, benevolent and humane govern
mcnt, created by the people of Cuba
capable of performing all internn
tional obligations. and which shall en-,
| courage thrift, industry and prosper.
ity and promote peace and good will
| among all of the inhabitants, what.
ever may have been their relations in
the past. Neither revenge nor pas
sion should have n place In the new
government. Until there Is complete
tranquility In the island and stable
government inauguratcd. military oc-
cupation will be continued.
with the exception of the rupture
Win spun. Nllt intercourse ol INC
United States with the great family
of nations has been marked with cor
diality. and the close of the evcntful
year finds most OF the issues that
necessarily arise In the complex rela-
tions Of sovereign states adjusted or
presenting no serious obstacles TO n
just and honorable solution by AMIGA
hle agreement"
The Nicaragua canal receives the
following favorable mention:
The Nicaraguan canal commission.
under the championship of Rear Ad-
miral John q. Walker. appointed July
II. 1897. under the authority OF pro
vision in the sundry civil act OF June
18th of that year. has nearly completed
It's labors. and the results of It's eN-
haustivc inquiry into the proper route.
the feasibility. and the cost of con-
struction OF an interoccanic canal by
Nlcaraguan route. viii be laid before
you, Circumstances suggest the
urgency of some definite action
by the Congress at this ses.
sion. if the labors Of the past are
10 he utilizeNl and the linking OF the
Atlantic and Pacific oceans by a prac.
teal waterway Is 10 be realized. That
the construction OF such maritime
highway Is now morn than ever In
diSpcuSahle 20 that intimate and ready
INSTRUMENTATION between our east
crn and western SeahpardS demanded
by the annexation Of the Hawaiian
Islands and the prospective expansion
OF our Influence and COmnerCe 10 the
Pacific. and that our national policy
now more inperativvly than ever calls
Tor it, control by this government. are
Propositions which ! doubt not the
Cousre>s viii duly appreciate and
wisely act upou.-
In rc-ard 10 questions Of aaancc and
the currency the President Say>;
II Is estimated upon the basis Of
preSsnt revenue laws that the receipts
OF the government fer the year end
ms June 30. lSsS9 will he s5TT.s14 .Gp7.
and Its expenditures S,.>g. .sT4 Ga. r,.-
sultiug In deficiency ot sll2.cs0OCr.
"on the Isl II peccmbrr. lsaS. there
WAS held In the ireasuy gold coin
amounting TO S>,4li.541; gold bul,
Hon amounting 10 SiSS, ,5n2.545. silver
bullion amounting 10 SScl.Sj9 30. aud
other forms of money amounting TO
si5l .o,Sl,a>l
ION the same date the amount Of
money Of all kinds In circulation or
not Included IN treasury holdings was
81 $50 SD .JDi, an Increase for the year
OF slG-l.5ai.@G,
Estimating our population al I5.loi.-
600 ai the time mentioned, the per cap
ita circulation was >25.Ua
ON the same date there was in the
"On the same date there was In the
treasury gold bullion amounting 10
si3s. .J0a5i5.
THE provision made Tor strengthen.
ing the RESOURCES ~ the treasury In
connection with the war has given In.
creased confidence In the purpose and
power Of the government 20 maintain
the present standard and has estah-
llshed more firmly than ever the ma
tlonal ctrdi, AZ home aud abroad \
marked evidence u this j. found In the
Inflow of gold Ia the treasury. l,s net
gold holdings on November I. lsas.
were >2.n.Ss5. .iGn. n compared with
Sii3.313. .ii1 on November l. 1897. and
au incrcasc oi net cash Of s2uI.I5G,l 100,
November l. 1897, 10 500, 23s 27a, No
Vcmbcr !, 1855 The present ratio Of
net treasury gold To outstanding liahill'
ties, including United States notes Of
l>,so, silver certificates. currency Ger.
tlhcaics. standard silver dollars and
fractional silver coin November /. 1885
was .a.35 per cent, as compared with
1890 per cent. November l. 1897
II renew ~ much of my recommen.
dn,ion of December. 1897. as follows:
%" That when any of the United States
notes are presented Tor redemption and
are redeemed IN gold. such no;cs shall
be kept and sat apart, and only paid
ont In exchange for gold, This l. an
obvious duty. II the holder of Unit.
ed States note prefers gold and gets "
from the government. he should not
receive back from the United States a
note without paying gold for Il Ia cN.
change. The reason Tor this j. made