The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1899-12-20
((V1l heKinley's Review
.. Of National Affairs Laid
Before Congress.
MUST Hold PHILIPPINES
Declares For Gold Standard and Re-
commends Congressional Re-
striction Of Trusts.

commends Congressional Re-
striction Of Trusts.
rndependence For Cuba When the People
Are Ready-A Territorial Organiza-
ton For Porto Rico-Treaty Rights of
Aliens-PacIflc Cable Needed-Parti-
ton of samoa-Our Army at Manila
Neutrality in the rransvaal War Re-
afarmed-This Country at Peace With
Foreign Nations-Pan-AmerIca Exhi-
WASHINGTON, D. G. (speclaD. President
McKinley's message, delivered to the Fifty
sixth Congress on the second day OF the
session, declares emphatically for the re-
tentlon Of the Philippines, the upholdlng
: OF the gold standard and the building OF
the Nicaragua Canal. BE denounces trusts,
but points out that legislation to curb
them is hard to devise.
To the Senate and House OF Representa-
tives:
At the threshold OF your deliberations
you are called to mourn with your ooun-
frymen the death Of fVice-President Hobart,
who passed from this life on the morning
OF November 21st last. His great soul now
rests in eternal pence. Hts private life was
pure and, elevated, while his public career
was ever distinguished by large capacity,
stainless integrity, and exalted motives.
x-.,l fhn htrS1, f6On
which he honored and dignifled, but his
lofty character, his devotion to duty, his
honesty OF purpose, and noble virtues re-
main with us as priceless legacy and ex.
ample.
The Fiity.sixth Congress convenes In its
first regular session with the country In
condition of unusual prosperity, OF univer-
sal good will among the epeopleat home, and
in relations of'peace and friendship With
every government OF the world. Our for
eign commerce has shown great increase in
volume and value. The combined imports
and exports for the year are the largest
ever shown by single year In all our his
tory.
the annual reports OF his Cabinet officers
which bear him out in the above statement.
New Banking Act.
The President finds that under the rapid
development In the industries OF the coun-
try the national banking act Is not SUM-
cient avenue through which needful addl-
tions to the circulation can from time to
time be made. He therefore asks Congress
to take up this matter with the view OF as
certaining whether or not such reasonable
notifications can be made as will render
the acts service In the particulars referred
to more responsive to the peoples needs.
he urges that national banks be authorized
10 organize with capital OF S25,OOo.
-' For Gold Standard.
President Mckinley then proceeds to dis
cuss the standard Of money, and says: :
I urgently recommend that to sup
port the existing gold standard and to
maintain the parity in value Of the coins
Of the two metals (gold and silver and the
equal power OF every dollar at all times In
the market and in the payment OF debts,
the Secretary OF the Treasury be given ad-
ditional power and charged with the duty
to sell United States bonds and to employ
such other effective means as may be neces-
sary to those ends.
The financial transactions Of the Gov
ernment are conducted upon gold basis.
We receive gold when we sell United States
bonds and use gold for their payment. We
are maintaining the parity OF oil the money
issued or coined by authority OF the Gov
ernment. We are doing these things with
tno means Ut nRnQ.
Supply Of Gold.
Happily, at the present time we are not
compelled to resort to loans to supply gold.
may have to be done In the future. It be-
hooves US, therefore, to provide at once
the best means to meet the emergency
when 1t arises, and the best means are
those which are the most certain and
economical.
In this connection I repeat my former:
recommendations that q portion OF the
gold holdings shall be placed In a trust
fund from which greenbacks shall be re-
deemed upon presentation, but when once
redeemed shall not thereafter BIZ paid out
except for gold.
The Subject OF Trusts.
After an urgent appeal to Congress to
pass some legislation which shalt lit the
American merchant marine from Its present
state Of decadence, President Mckinley
turns his attention to the subject OF trusts
and devotes great deal OF attention to 1t.
He says:
trusts to control the conditions OF trade
among our citizens, to stifie competition,
limit production and determine the prices
of products used and consumed by the peo-
Die, are Justly provoking public discussion.
and should early claim the attention OF
Congress.
1t is universally conceded that combina-
,tlons which engross or control the marker
Of any particular kind Of merchandise or
commodity necessary to the general COM
munlty by suppressing natural and ordt-
nary competition, whereby, prices are un-
duly enhanced to the general consumer,
are obnoxious, not only to the common
law, but also to the public welfare.
There must be q remedy for the evils In
yolved in such organization, II the pres
snt law can be extended to more certainly
control or check these monopolles or
trusts, II should be done without delay.
Whatever power the Congress possesses
over this most important subject should be
promptly ascertained and asserted.
=. Foreign Affairs.
Following the trust question the Presi-
dent takes up foreign relations, frst re-
viewing the status Of several disputes
which the government has on hand and
finding them moving toward q successful
settlement.
he finds that the Isthmian Canal Com
mission is making good progress In curry
Ing on examinations In Nicaragua anu Dh.
rien with a view to estanl1sfanS ss: ,sans cana
between the Atlantic and Pacihc oceans,
and he asks Congress to help In the work.
Our trade with China has continued to
grow and our commercial rights under ex-
jsting treutles have been and will be main
tanned. He again urges an appropriation
for commission to study the comnercin
ard industrial conditions In the chinese
Empire so that American trace may DO en
largsd in the Empire.
Next the Paris Exposition H. touched or,
and concerning Germany the President
finds that our relations continue to pe
most cordial.
The President hopes that the disputed