Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1899-12-09
THE PRESIDENTS MESSAGE.

The Presidents message, containing
%. 1000 words, the longest on record,
was SEM to Congress December b.
The President mentions the death OF
Vice President Hobart, then proceeds
to congratulate the country on increas-
ed prosperity and makes a plea for
National Banks.
On the gold standard he says: 81
urgently recommend that, to support
the existing gold standard and to
maintain the parity OF value of the
two metals (gold and silver and the
equal power of every dollar at all
times in the market and the payment
of debts,' the Secretary of the Treas
ury be given additional power and
charged with the duty to sell United
States bonds and to employ such other
effective means as may be necessary
to these ends. The authority should
include the power to sell bonds on
long and short time, as conditions
may require, and should provide for a
rate of interest lower than that fixed
BY the act of January IA, 1875. While
there is no commercial fright which
withdraws gold from the Government,
but on the contrary such widespread
confidence that gold seeks the treas
ury demanding paper money in ex-
change, yet the very situation points
to the present as the most fitting time
to make adequate provision to insure
the continuance Of the gold standard
and of public confidence in the ability
and purpose of the Government to
meet all it's obligations in the money
which the civilized world recognizes
as the best. The financial transactions
Of the Government are conducted
upon 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 mon
ey issued or coined by authority of the
Government. We are doing these
things with the means at hand.
Happily, at the present time we are
not compelled to resort to loans to
supply gold. 1t has been done in the
past, however, and may have to be
done in the future. II behooves us,
therefore, to provide at once the best
means to meet the emergency when it
arises, and the best means are those
which are the most certain and econ
omical. Those now authorized have
the virtue of neither directness or
economy. We have already eliminated
one of the causes of our financial
plight and embarrassment during the
years of 1898, 1894. 1895 and 1896. Our
receipts now equal our expenditures
deficient no longer create
alarm. Let us remove the only remain
ing cause by comforting the full and
necessary power on the Secretary OF
the Treasury, and impose upon him the
duty to uphold the present gold stand
ard and preserve the coins OF the two
metals on a parity with each other,
which is the repeatedly declared policy
of the United States. In this connec-
ton I repeat my former recommends
tons. that a portion of the gold hold
ings shall be placed in q trust fund
from which greenbacks shall be re-
deemed upon presentation, but when
once redeemed shall not thereafter be
paid out except for gold"
He advocates the control Of trusts
by Congress and the building of the
Nicaragua Canal. The South African
War is passed over and our position in
Samoa commended. He congratulates
the. country ON the outcome of the war
with Spain and advocates the policy OF
freeing Cuba. A special medal was
: recommended for soldiers in the
Philippines who reinlisted. The pres
emit force in the Philippines, including
troops in transit, is stated to be 65,-
534. The Navy is highly commended.
Imperialism in the Philippines is
strongly upheld, and every movement
of the Government Endorsed. The re-
tention of the islands is insisted upon.