The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-09-22

by hostile congress-, or endangered
| by an unfriendly secretary of the treas
ury: Our past experience warns us
that it is only a question of time when
those who are always opposed to a
sound monetary policy will again seek
| to overthrow it.
The Republican convention did well
not only to pledge anew our fidelity to
| the gold standard, but to declare its
| purpose to uphold 1.-The integrity and
| value of our national currency" There
| should be no equivocation or doubt as
to our inf1exible purpose, not only to
| maintain the gold standard but to keep
all silver and paper currency at a
| parity with it.
| The assumption that the gold stan
dard is ''irreVocably established does
| ed by an act of congress, but the can
| gress may alter, amend or repeal that
| act ant any time. 1t is no more ire
| vocabIy esta bIished than are our tar
| iff sch eduleS. The one may be changed
as readily as the other.
| Sound money is SO vital to our well
| fare, so important to our industrial de-
velopment, that we should lets its open
we abate nothing of our determination
to uphold and defend it.
Since 1896 we have improved the
system as well as increased the volume
| of our currency. We have now in cir
| culation $2,521,151,527 or $SSO,942,-
OO8 more than we had seven years age.
The increase has not been due alone to
the larger yield of gold, for 1852, $780,
| $50, or nearly 80 per cent of the in
crease, is composed of silver and ma
tional bank notes, which, under the
Republican policy, are essentially the
equivalent of gold
If in the future the exigencies of
business, which no wisdom can now
foresee, should make additional none
tary or financial legislation advisa BILE,
the Republican party may be intrusted
to enact it along rational lines.
The presidents course in Panama
merits the most generous approval.
He dealt with a delicate and difficult
situation clearly within our national
rights in such a way as to make posi-
BILE the early completion of an 18TH
milan canal which has long been de-
manded in the interest of our COM
merce and the national defense.
He concluded the negotiations with
Great Britain for the abrogation of the
Clayton-Bulwer treaty. He negotiated
a treaty with the Republic of Colombia
for the requisite rights and franchises
for the construction and operation of a
canal. Its ratification was contempt
uously refused by the Colombian gov
eminent. Thereupon the people of
Panama renounced their allegiance to
the parent government and declared
their independence. The president act
authority, and in conformity with well
established precedent, promptly recog-
nized their independence. He negoti-
ated a treaty with Panama, whereby
the United States obtained the neces-
sary rights and franchises for building
and operating the canal.
When the insurrection occurred upon |
the isthmus, the president safeguarded |
American interests. He acted promptly |
but deliberately; prudently, not rashly; |
firmly, not unlawfully. He usurped no |
authority. He only exercised that ex- |
ecutive power which is clearly vested |
in him by the constitution, and which |
his predecessors had employed under |
similar circumstances. If ne had failed |
to appreciate our rights, or to act firm
ly and promptly, blood would have |
been shed and the rights of American
citizens would have been sacrificed, |
and the construction of the canal |
would have been indefinitely delayed.
The president in due time appointed
a commission composed of eminent en-
gineers and men of practical experience
to undertake the work of constructing