Mexico weekly ledger., 1899-12-14

change Jet the very situation points 70
the present rs the most fitting time to
make adequate provision 10 insure the
oontinunnce Of the gold standard and Of
public confidence In the ability and pur-
pose Of the government TO meet
ttS obligations in the money
which the civilized world rccog-
Mics az the best. The financial
transactions Of tho government arc con-
Quoted uron a gold basis. We receive
gold when We sell United States bonds
and use gold for their payment We are
maintaining the parity Of all the money
Issued or coined by authority OF the gov
eminent. We are doing these thinehwith
the means at hand. Happily at the pres
emit time we are not compelled to resort to
loans 70 supply gold. It has been done In
the past, however, and may have to b
done in thu future. IL behooves us, there
fore, to provide at onco the best means to
meet the emergency when 1t arises and
the best means are these which are tho
most certain and economical. Those now
authorized have the virtue neither OF
directness or economy. We have already
eliminated one Of tho causes Of u hnan-
cial plight and embarrassment during
the years 1893. 1894, 1895 and 1890. Our 70
ceipts now equal our cxpeaditsr&s de
hctent rerca0es no longer create alarm
lot US remove the only remaining carso
by comforting the full and necessary
power on the secretary Of the treasury and
impose upon him the duty 10 uphold the
present gold standard and preserve the
coins Of the-two metals on a parity with
each Other, which Is the repeatedly de
olarod policy Of the United States.
In this connection l repeat my former
recommendations that a portion Of the
gold holdings shah be placed in a trust
fund from which greenhacks shall be re-
deemed upon presentation, but when once
redeemed shall not thereafter DO paid out
except for gold.
The value Of an American merchant
marine to the extension Of our CONNER
cial trade and the strengthening Of our
power upon the sea invites the immediate
action Of congress
The Trust Problem.
Combinations Of capital organized into
trusts to control the conditions Of trade
among our citizens, TO stiae competition
limit production and determine the prices
Of products used and consumed by the
people, are justly provoking public dis
cussion and should early claim the atten-
ton Of the congress.
The subject is one giving rise to many
divergent views as to the nature and vari-
ETY. or cause and extent Of the injuries to
the public which may result from large
combinations concentrating more or less
numerous enterprises and establishments,
which previously to the formation Of the
combination were carried on separately,
It Is universally conceded that combina-
tons which engross or control the market
of any particular kind Of merchandise or
commodity necessary to the general COM
munity, by suppressing natural and ordi-
nary composition, 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 a remedy for the evils involved
in such organizations. II the present law
can be extended more certainly to control
or check these monopolies or trusts, it
should be done without delay. Whatever
power the congress possesses over this
most important subject should be prompt
" a~scertained and asserted.
Tho state legislation to which President
Cleveland looked forrelief from the evils
o ftrusts has failed TO accomplish fully
that object. This Is probably due TO a
great extent to the fact that different
states take different views as to the proper
way to discriminate between evil and in
furious combinations and those associa-
tions which are beneficial and necessary
to the business prosperity Of the country.
The great diversity OF treatment indiifcr-
ent states arising from this cause and the
intimate relations Of all parts Of the
country 10 each other without regarding
state lines in the conduct Of business have
msde the enforcement Of state laws diff
cult.
IL is apparent that uniformity Of legis-
lation upon this subject In the several
states Is much to be desired. Il is 10 be
that such uniformity founded in a
wise and Just discrimination between
what Is injurious and what is useful and
necessary in business operations may DO
obtained and that mcans may be found
for the congress within the limitations OF
Its constitutional power 10 80 supplement-
an effective code Of state legislation as 10
makes complete system OF laws through
out the United States adequate 10 compel
q general observance Of the ~salutary rules
to which / have referred.
The whole question Is 50 important and
.far-reaching that l am sur nc part Of 1t
will be lightly considered, but every phase
Of it will have the studied deiIberation Of
the congress, resulting in wise and judo
ious action.
Nicaragua Canal.
The Nicaragua Canal commission which
had been engaged upon the work of ex-
animation and survey for a ship oanalroute
across Nicaragua having completed It's
and made its report, was dissolved
May 81, and on June 10 a new commits
sion known as the IsthmiRn Canal COM
mission, was organized under the terms
Of the act approved March 8, 1899, for the
purpose Of examining the American 18th
mus, with a view to determining the most
practicable and feasible route for a ship
canal across that isthmus. Good progress
has been made, but under the law a com
.prehensive and complete investigation is
for, which viii require much labc4l
and considerable time for its accomplish
ment. The great importance Of this
work cannot be too often or too strongly
upon the attention Of the con-
gress. In my message Of year ago I OK
pressed my views Of the necessity Of a ca
nal which would link the two great
oceans, to which / again invite your con-
.sideration. The reasons then presented
for early action are eye stronger now.
Alaskan Boundary Dispute.
In my last annual message I referred to
the pending negotiations with Great Brit
in respect 10 the Dominion Of Canada
BY means Of al executive agreement a
joint high commission had been created
for the purpose Of adjusting all unsettled
questions between the United States and
canada. Much progress had been made
by the commission towards the adjust
ment Of many Of these questions where II
became apparent that an irreconcfiabls
difference Of views was entertained re-
specting the delimitation Of the Alaskan
boundary. In the faiiureof an agreement
as to the meaning Of articles 8 and 4 Of
the treaty Of 1926 between Russia and
Great Britain, which defined the bound
airy between Alaska and Canada, the
commissioner proposed that the
Of the boundary DO laid aside and
that the remaining questions Of difference
be proceeded with. This being declined
by the British commissioners, an adjourn
ment was taken until the boundary should
be adjusted By the two governments The