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màt, a"relaad's Messag SMs CJRRENCY PLAN aWould Issue Bonds rnd Retiri Greenbacks. QlyWay ta Break thm e ndc cbaa".îatongy Vvors the oil *âtIdard, but Adi-atalun Bluer us- ailval'Certiftates for- iomeuhic Ex choisg-Parîty Muat Be Preserveti sud Temstatian ta speculatlas Be 'maavevd-Weuld Reduice Tax au Na titlesan lk Circutaion - Farra Relations Rei'iewe<i. Piect Clc-i-lamui'a muessage tla lb Fifty-fourt Cungreqasvas nit tai sittesi unîiliTnestixy taut'u iau. s-eu t uwas rend lactore bot Ibamsean ti itite It uWsitz fgi-ont it-ugt, it-e 21>11111sta-l l ,dr.lt eoalunt.i'el>' su 1h tlt qi-ahi>uit tiilitbai-e criss-n duunitig lue vat otalc aud also uitîit Ibuse ut cirreuil inlti-csl. Tie messa«ge tipelma us tIi a rî-feu'î'îx-u'i litheipoi-latuce tof xiui-farvli-ig at tiltî and the' Oigeut-esotfthe uationtal tiîîtiiî-î at ti!@ti lie t.1 î lit,1 th iit t itt auinalioa utfIîlesi tun lufillte hi: mxeessge ta the tutu jecîs. "Thtefrt-t sulject of inîportance totictîte "Oneala te dilsttrtircil conitliitti (Jif faireutn(Cbina it-Ittusu iug n ttt!t.ttc --x aiftea-ar ustit Jo,l t he m, lite eoiutîmni wcskeatug aifte central nitîbortt>- ai thé gai-rament andthle serions onîbreaka ei te aid fanahlea spiint agnainat tore'uguer là1 diacuismesi- The demauda aifte tnitet illalos ansi othier pais-rs for te punisit ment aofte aggnt'ssons sud lie compli onco oi thte CiinesGe (arnmet ar ec n lagesi, as la te demand ofthlAe Unitet Itateofl for a appeci commission te in t uestigate lte misurtances ut-tire ts'; sie tinal brougitt ouI.. "Thse oneigeîie stops ve tai-e thu. ltton," gays te Prenidt.at, "are aIl tIi amoi-e likel>' la rtsuit lu future safoty tc Our ont eîcs luChina, bot-sie te ti perlâi gouerneatli. 1 ams persuadel. on. tirels s'anriucWts ltIuse desire ouIl t- lierty andi protection ai oui- au-acitizen. sud rerost-asfor aay utrangs taI tes ymxi have aufferesi, sud titat wevea- no ulte. riar designs or abjects, pslitical an otiter- 0f te Wallon Incident té messagi 93Y2.: 'fte c-staomazry coritaI relationm betuos thIis c'antlry andi France liai-t bue. udiutuui-td ittit te exception ta -a fW11explanation aifte Iroalmont oa Jeu . Waller by the expedilionaru' mili tai-y sathheelies of France s1111 romaini te be gireon2t - "Theceftucal record othte trial hias beci fulanisi iblis0 goe-inmenl." gays t messasge, "but lite esidence atiduced ii -~- suppart of te ehargeas-htit tesino r.aefveslhy te Frencht minitîefer fou @ls ge aira tili the- tirât siet-k lu Ochaber- lm ta.lis Car been withit&J, te Frouel <Ieverauncnt taking te groansitaI il produellen ln response la aur demat wotuld establisit a batI pretcient. Th ellcloert foui- ambassador la procure il *Iiajeu'ei-. taougitridemI b>-recel I ~ changes lu te Fi-cht mui-y, tai- omi beaux relaxai. ans itilahi oafislouly expet- a d ltaot nome saalstat-tory solution of il moter uili ahotlybc horenchdit. Iletai tsil., I appears taI Mr. Waller'@acea, Iiaeal tbas et-Ciy alleuitioîî ushici tl st51* of bisi ieaiti aud aitlte olher ci emstanceitof te case demauti or pei "Wt." -Thse Présidlent poinhs eut as a pleasat »oUtfluthlie 'onviinsl of a npormanet -irets et si-bit-alLen bOIs'eon te lu eouties.ansi reraîaaendî te scep e etftise linttien lte e atun Il Ti lauexposition oai 190. O)urereation uvîht erimany lic .ga-i af i afueced by hy ie 'delushu'o docîrind timaI ho laîcrnai developit oC a nalial laumWe-~td ad ils uesit inacreasesi 1, a Polk? rbicit is nnderlaking taei-ser,ý Ilj boine mai-lichafoi- ta' exclusis-o tse 0o tu-Il ow.spreducers. no cessasilys hahene thetir aes linCcreigu merkeits andi p-e. veauefi-e. atceas taete p-odunt th(I woud. Tte deslelto relain traie intime -use riuts, noaitiaat liofthe Inoxorabif Iow.aifne neeutsisand ehangeil candi timoet em iaani ansi supply, ansi oui- ast balhlug tai-dinesa te lnvting a treer ex alaRme et commodities and blastitis meani hoIpeihma oui- fooling ta te xerna l-leinaturaiiy open la un. liai-o ci-c ate à sliamituationu sameuvitlhijnious..t( - A. aerkRIR Import intereutos, ualtoeuy il Gai-ut>nyi-bei-e tey ni-o peritape mos loiiaabbe. batu ýjainaut euntrlos. Tlhoe fett of«Itiis, pirticmlaîty on fao -- Prosincta aud oageoon aur iuanuantee ca l'asien, la poînîci omt. Ttec lesalty fmi Uopea-ituudiýl tai-itlems ludealilag swit aIl or aations la statosi, but Il Io argne iblit f aeeemsj'yte prot-ide resticnsealulaiu ýe arte t rom whicit teesufer ia ot drte pwa ualestunatit dtituia a - ~ - ~ t- li eli a course inw oa awibgloI holigittls -aloi-estlap». Ibe v otus epelarot te Being sei t .~~efeîred 1lanatd lte ailut, taelIsosied ut. Tbi mtte un plaiaio0 et ot Sfttol chitime.:ferdamages, The hbiiryof the. ratilssbond trans. 2wib w*Xevefuu.4 b the lant Congre", actions whieb bave bha= ru.orted ta ln or- hbq Preloulet recommanta t t t eau der te repleish thit. oid reseli'.le re- arain b emciîidered and stnctioned. Il vlewed and the constant subsequetit fall- thfit l retnsed We are bound by Prery juge off pointed out. Of thte lait tralnsate- cousideration, of bottor sui goosi failli. lic tien with te syndicale the Presldent re says, to provide for a speedy settiemeut i sya: he performance ofthtiti commret by arbitration. A treaty aoftirbitration flot oity restored thte reserve, but cliecixcd in, aecordilugir-, to bie laid betorè the Sen- for n tinte the withdrawnls of gaid and nie. An appropriation for te coaxpileion lîronglit on n period of rcstored confidence of the Alaka bounnîary sauri-ty. aii and sucit pence and quiet litibusiness cir- follows te contuaîraoftthe coltst is carnest- des lis were of te greatest possible veiue * yreoinended. Tie Impîortanc(if an !n- ta every interest ltat affects aur people. ternanîonni agreemnent as ta th ile oftIlte 1 have never bt]dthe' liglittest misgivixîg li1t l neridliail. i-ht-h forms hlt of cfoncerning the wisdoîn or propriety of Ille boî:îîulry, i dwtlt uotn. Attention i s iis arrangemient. anîd amn qiite wiiliîîg ta aiso callid tu lite unsati'.faî-lory condition atîsaer for my fîjil sitare ot respoîîsibility .eof the bttundits-ieq swit('aitada iniilite for ils promotion. 1 believe it na erted a egrent likes anidtlite ntes for a joitxht isaster, te imminente ot which ilas commission oit tthe sulject. fortîtnately flt at the timue generaliy un- The Veneznela Co,îlrov-ers.v. derstood by aur pemple." 0f Venezuela thte message rimply 0~atrs We nre nov, te Presitlent saysi neariy ,a tu a maternent if te iniert-st enti Ita- ohere we startesi and neariy al of te icy of te United States regarding te gaid wititdrawn btas bcen iais ont on id bouadary dispute wns svnt ta Urct Brit- United States notes, witiel, aîlil retosin id nin in Jl>]elst. unnanceled. Titeretore, hoaIyl," I a L_ "Thte general conclusions titerein reacit- convlnced the oaiy titorongit anîd jractic- Md and foruitiated," gasyte Prettident, able remeily for aur troubles id founsi in "are lit substance taIlite traditionni the retirement and canceliation of aur and iseablisitîliicy aofte Uuierîîmoîtt United States notes, eommoniy eniiesi is tirnly olîposeil ta torcit'ie inieregsobu' greeniteeki, and the outitandiag trensnry nu nny Europvan poiwer oflils terrilorizi notes issned by te gai-rnient ifi puy- oisesat n titis continent* ilitItiis nient of silver purchases under lte net policy is as %veil ftoutidti in princitîle ne of i18M.7 it is troigly supiportt'd by imrons blietiiscoald bc quite rendiiy a:- 10 pe(ýdens: hntlisn coseqenc th coplihedby the ext-baugre ofhesenoe 8-Unitedi States is bttuad îo irotest agaiat for United States bonds of amati as îîeii fi te eîltrgenenl tfte ra utfIritisditas large denatainationa, hering a low c- Ciniia ini dîrogai. ult lte rigitîs and rate of interest. Titey sîtould behonîg- e; against tlte- ilî(ut Venezutelai: tateau- tertu bondg ltaus increasing teir desirti- Issidering tlt, distarxîy iii sîrenglt of Gýrant iliti as ins-estnielîts, anîd hecause their Britiiiîi ndaNtiitîzuela, the territorial payaientiîculd ho sucil poMtîoaed ta a dispte ietis-ecu iîlem ta k' iercxsiatiy perod far reuioveil train present finincial asettli l erty tty triaittit- itnd impatol burdeus and iteritiexities. sthen, with in- 18 trlitratit -n . t itat îl!,,rcsort tî saLitcrensesi îrosîtertty andtresonurcts, titey s n iuraI ion sitotidintlîie te -bote cou- n ontld lie more eatîily niai - trau-erî-y. anîd it is tut Fatisfiedt if ane if To furîlier insure te cancellalion of 's the îtowe rs t't'îttertîd i-î'e t.eriittetl Iota iese inotes and alto îtr<vide a way hy tiraw o ii rititru ry i ie thiroutthlie terri- o iiclitgtid nia y ho atided tolur urcrreltcy ,l toxry ia tî-iate andt îehtie it ill IIsujit- tnlietiuoftht int,a tentitre j inte plian f- rait Ii ti i t-' only l~tic iportion h i tg shoulsi ho'tatisut lority givien to te ,,ec- ou oit(,ie ideou t ila %tis evofutltuyau coli-rclaryof te Treatry ta dispose af the - lcijoas. te dîsiteîh in quitjont eailt'd hbonds abroati for goid if iiecessary ta coin- lîp'tn tite Britisht (is-rrxttett for a deli- pleelite conlumnpatod redemption antd nile îîîsive r ta thie qxtt'titt u wbther it CaucCliitittn, permitiig hia tot tige te n-atld or %vud otîituIsutiit te territorial proceeis of suchbiottd a lake up aud controycrsy hetwxccii itacit aand Venezue- caneel any of te notes tatInlay lit in là,in iiils elîirety ta imrnxttial arbitra-.te trcnstîry or that may ho recei-ed ity lion, Tite answer ofthlie British Gavera- lte Goverîtîneat on any aceouaI. mient titis not lcou rvceived, .t i k xpllr- The intrcase of aur bondesi debt livoh-- cd îitorlly, wo h u rter cîtrnmnîiettk-titt c d votîlîi ho mpty conijensated bly renei-- on te subljauut o-lit robably bce matie ta etiactivity inta ailbusiness tircles, reatoreti the ('tngri-s. confidence it bomne. reinstaled faill i i f lati xii is %%-;tisct h a reterencee ta aur xnanett'y strengt alxrond anîd sîlîn- ttt ttutrtiuxig hiet Jziniixry,.Ilte îmutnts ulation of every irilerest ni inditstry Ititite ni)-taithlb t' l ýia an i t-rtiueit tfor taI syonîsifoltosu te ça ;tetation ofait- te lerigh îs oft A;ut-rit i 'i-i ts tiaermiedi go!d-xteaand all'trg:tns. Ia any c-exil, tereiti, anti te tit-mtitîifer the recati of thé- bondss îroiiost-d woti s'andi for tt.tý Mittitter Ttutritoix ctin-uisimt fa t roîxbli sanie ij-dî'ttîx- Tii" hatrtesv-î'tu is 'cut:îeias re- es, i thie palt si-a muv olxlitis rsli.tîsibtî- tir tIbmxanift'esttatns attist tere lurks te menxace of txnc-.mlixtg lt'ux!a.C Iteitit('- talieus asIlite ylt- u-.if taiians with our indeieuduiess stili nndiseit'rg,"I i' totoratto. tongratl-u'tî'i;are tiffitretiandi aggravaIt-s in every fenture. The oht- titi ur --und rc]t-i xi itis oit L ,a -:j,în %ti iw igatittts necesaanry la fuii libis i adeit' .d- of lier iast gaula lin greatnxu. . 11 litpor iesa n outlflot ccuttIin santtl'àt.sC tant refertnce-aare iacteinautr r-lattons f rtont isiicit we liave-e heiî îuiered ia e iih Mexito. xrxta atI lttxe"ia. Thte IS.S4 by anticipation anti paynielt lb-'vîtxtd reccttiîntdatiotî for - t:îttu-i of te reqtîireiînts of the inkiiig fuaàti-t te tzit ttait agru-teuti - ,renc- ui, o -Or trpusrvi-cne. O f ctlltate rre.siit,t -ays lii'- 'nited Te curren'iy isirbilra-n hy lte relre- 'tStattes lutapireserv.t- iitîera*iottal fnilli. ment af teLUitediStates notd nt le a-hateî-er te Pas tttaaîy of "or cilizens treasltry notes. amauîîting ta proaahy lotis )fwiti te intuiîrets, lit. cotintuets: titan $481«000.000 migitî ho supîtiesi ly rs "Titugitnittrthe-. armult t u scbgold as wauid ho used l in terrelire- Speopie*s synî;alimy wiltlte Cabian insur- imInI or by an imcreasetinIthe cire-l iion genîs nar aur loas or niater1ai damage atour national batiks. Titougitlite ggre- colîsehînonut tpon te tittile ndpavors Ihus gaie capital af Ihose atIv in Utexi5î'tt. e-fer matie ta restore pene eanti rder, nar amenais la mare titan $06i4M0,0000, itteir 51sn hot-it ur lnmnanu' sensiiiies nia, aulstanding circulation. hast-sion !tu-ad -have reeeives tram lte ernellies wbîch 1I aecurity. amonaîs ta onîr about $lbi0,Oti.).- r appeir ta espec-taly citsr-iterize titis uan. (M0. Titey are autitorizes isusîîe notes guinar>- atd fierely ct'îidxeted unr. liave ttanîIntù ta 1'0 Mper cent aofte bonds de- Id in te lets aitken thet'd-erninalionatt POsitte ta 1seeure teir circnlation, but le the Gai-erniment lu itanestly futiil i-ovr! tin no cieut beyond te amount uftIheir Sintcenatianai obligation. yet î i. ta be capital stock, andi îhey are aitiiged ta psy r arnestly hopeti an cî-"ry griîtndt ltIte 1 pîer cent lax on te circulation tey la- -devastatian of armt"i couiict -nxiy speesl- 'me* ily ho stayot anti ortie rand quiet resioresi 1 Ithink tht-y shonisi ho aitose te lagisse leli te dislracted itlattîl. bringing in toe' circuttioin equal laelite par vaiue of te rtrain te acti-ity andti Iriftiof peacetuî bonds tey deposit ta esure it. and titat -pursuils." lte laxon lteir circulation alaould ho The Alina iaîill andi Spain'î dis- 1 r'educesi one-faurtit of 1 per cent.,, ssiti'i eavon-al ot it anti assîraut-el, ut a itou e- "I-dis neeall the expeîtse Goveruimmot, Incurrence 0a i ailar interterences are alat- tiesonsi b. alacloustiuleardeptoite :tcd.in lieu of the bonds aaow requireil as ne- tf Th 'ru residentt lit expresses bis regret curity for lteir crculation, thase witich ,flitIthe' Turkish Govertumntalsiouiti have t wanid ho isaneti for te Iurpose aofi-o- . twarted te rioriios la seuinla lte edis- iriug lte Unitedi States notes aud Irons- ta turbesi quarter oai-bitempuiire te Unitedlniy notes. Sîmmi consul aI St-ýas ta order t investi- * The bai already existing, if tht-y an gaie andi report. Eviery effort, hc says, ila tintfîtlitta stre lte ufey . Amn- demired, couisi issuie circulation in adtii te ut ort toinsre he afey ýf Aer- 1lion t taI aireauly onstnndiug. amoual- in eau ilizf-n!s andi titeUnitedl Statea . îgl -.S00O, ibci 1ud eri nt ter ta aerI, IBut. lie gîtes oait.several af - tto os pocrfîiLitotinl liit-rslia-eor quit" equai lte currency proptuisesi t assuheaintoesidu asiai s opai tht'1 ( laveun lie canceoliet. At auy raIe, 1 shonid von- h asum uaii a'trky alagrensifthen(iisionrt-fideatly expeet la see te existig nation- ý- mard n urcyIneta ainfntarr-nelyati aks, or alter-t tea hoarganizesi, ai-ail te taliiy, aîîd tt i ire taihowts-t li t heaseives of lte jroposeti encoturage- :bd prompt sud effeci-e action on teir part meltaiueiruaonndItmti- te IVIli fnt ho delayeti» 'fill aay vacuum and supîti, every cor- î*. Tht esage eît-îîaxuîcads at lenglt an -rency ucesi. il Improe-ent iiilte i'-'"ilar seri-ice by It bas aiways aeemcd la meltaI te ut dame platn ot aluîoinliuuutl and centrol. provisions of lais u-gîrdin lte capital t. Delicale Flutunciai situation. iof national batnkasîhicit aperate as a liai' te Fully liait the mesage is devotesi te a 1 itaion taeltoeir locatian tail la ni-ike l- .icisoî ilteinîmca iîzto. jroper compensation for lte stppreession t- BlY comand lof the peuflîe"," liemaes-. of State banks, iviicit cailloeat-ar tete he ange asYs, "n cuatointsreivenute systeai de- peuple la ail goûtions ofthlie coutry and r- sigued for teiprttectioni anti lenefil af tiadiy turniahedt Iem a-tht banukng ne- r- fasoreil cht'îst sq litle ilupeixtie of te attcommastations ansi tacilities. Any ta- etmass at ouretotinirîeui. attd atitici, uihile cOuveniemîce or embarrassaient arising il iellient for te putîtose ofreeue. tram titete restrictions on the location tut il îtînlui aîrIrae eiitumu aîs imteet Jnational- banks migitt siell horeumediesl oa aur outrance lu lite masrktets ofthlie world, lîy btter adapting the tii-sent systeai la *' bas bien aujiersedeti lisa tarif poliey te croaliot of biksnka utinler coin- te syhici il. priacipile ta based uîpon a donilimanilles or by permîtting bauka af lartge etfte rigitlof thlIegovcrrimnmoîtelabstruct cpia etaistbncslunc1- te lieavenues lo aur peoîîl's ebeap living capttesaisutbsrvncei pe o.s te or lessen Ibeir comfotitat] contentaient, regltesiaswud rerve theas 10 secîre ln for ltesakeofot tcording esPcc'iai attiant- rli ate 'and csraii-c astrasi ey nuges ta favorites, andi tihieli, whiie en- hi aeadcnevtv eta n t' omragngaurinercuee sd rad ~î~ management. rf- ourginr or Itercurs an trde ith Bat titere mil.giflot be'lte neeosaiîy if other nations, recogizes te tact liaI ot tcta diinl i nrnyb se Americami seli-reilance, titiif t andi lugenu--aforunetenadin cicultion as nI fnly e- iîy can inilsi np oui- counrys induit-y gn ius ofoditd.ifcultiounld ho ne- le and develop lilsresour'cs mira snrely than le a i'rom atlnIfnga gol res' e- enervatiug pternalleai."lee ri anaiitragl eev le But titis and te rt-peRu ofthle silver- nadir conditions taIt constîlute it te - p ...a i.aw i. la-saisi.fe- tar short .tbarometer of our msoncy-ani if ou- IreatmeàtÏaud uapleiaat wumdln. Iunlt.eîsreaeat stage of, durtiiealty il la nt ul ay 10 undmrstand how lte ameuna ot our revenue receipts direclly affects 'il. Tite important question lls Botlite qutam- lilyaifiMorley reelved lnlurevenue psy- mut-aIs, butthlie kinîl ai money tee maitîtain anti uailhlilily ta continue lu aotîntî ltn- cial condition. N¶,e are cueaideriig lte Goi-errnment'a hotldimngs ot galtias relaicîl ta te souuîdaess aifaîtr maney anti as tîfftex-tiig aur nationali credit ans i ntneitrî stroèitgth. If lte golmi reserve ittit tIti-c bt-c',ii iipiroti; if -not bonds liai] bluen is- sîîî'til t t)Lîaîishit l; if tere a'itd boeiito wî-stion concurtiitg Ouîr ahiity ta c'Iti- ulula gotti payaicmîls; If oir resenîîesus-on' nos- iPaid inlugol(], andiif ive coîmtloobatikl atîr gulul receipli as a meaus i ntaitut,îimu- ig a sute reserse, lte amotant afaur ret-enîues uuotul i' an Influential fator inathieprohiem. But uforîtunateiy cili the circuustamueca titl agit tlendl sueghl la titis consideritiait are entireiy Illcig No Ouli trom Revenues. ln aur preseaI predicament no goi la rèelveutl it payaient ot revenue chcrgî's, mer s-ouid titero lie f te revenues si'oro incronseti. The receiptieofthlie treassimes- su-lin not la ails-or certificales, cüusi'.tt ai Unitedi States tntes ansi lreasnry nutles issiietifuir ilver purctases. Tites o tonus of tsoîiey are oumiy usefîmi la lie Goveri - mtent ln pa3yiug ils citent, orduiarýy q,pienses, anti Ils quacntity iii GovenlIuiclit possess4ion dais net ilit e Icaît citîrit- nIe luisual givittg uts ltaI kitîti Of afe tnamiciiul standting or condition su l ils buil eu goiti abue. tfilt la gai lataI theae notes, if hlu id ', lte Uti-vernititt.clita ltcuseti loit aii gotti forounr retoervec. Ie ansi-or la t'aiay. Thte eopilu' trais g'iitifrontIle tre-axîri-. att deumi ndi tîont Uited t Ste us iohtitian treastir>- nies, but the proItosiitn Ilîxîl lte trenaîil> cita ondeumîti tirais- golti tram it thé xîîuife lnn litt oli 'belî re- gxu rtc,] ini 'li-st' tti>s ithtiwsotudîenami atmutsemn-it.-Anti tien if I itis ecîxtii uc tiet, ie i îîtliti g u rcv~iî it to-e llta - itth Ilîli hutir golti frait ni-glixj itll tthe e nula tior Ilue îîllt Ltir iL It'let'x C'ttit.t !ion uto t Ile notes te>-r'î ed itt x tlit rgi' fixeil. LTe set-Cul y tf lte t rut,:sa.rs nîtl' tse sîttt mxttt.t.uin trom .9 tîrpiuis rasvtnue t bomy cglaithetitii martket. Of course bue cauttido titis oili ont1 pa>iag a itretaium. PlîritsalioîtIers of gîtt, simd, tînlii,'e Ile oerîiuît lItas , if. Itpîa ity lunîtu la iti. lit t ba rî'straînîd fr-um nttînking lte lietbtar- gainit whlî eiti-u hcY I urainiK x tit xu tieti' ls tit; buni lie nititi-t Illieiit- reýitr3 - -f tthet rea stry k'tlo gttt utt ty terntis xli %e txr lie wttlxit lîti'u isi gt'txi t i ulla unives aitluî'îti xiii txiuî t t j-, tîttîs lî-eiki îtg diii rithi lit iurit>-y îtx i 1utI 11!1l sl se sultIl iti îern miii t s iKAg'ttp' lit lt:iItîaiî, allaix -'tti iii' l%- 4t-)tu Cii'endxti suriîtt ttttti-d.5 Nui-îTltiu te iremiini îîu l ittuii! s lt ltt tua i', sndtIti le ail -isultl uitîl i b"Ilîý,risietana uitIr aliitxgd Stitt i,il. t rvasut ivnotes ini lianid i i- tiettîu-ly ttaturitg itils haret-ruiand hi rt-tale nIt a bigitet- ternilut. It 1"-t(3« 130itlaini-,ithtta slarge reviciiut- a l eý--dît tlit nIrot-t-ilts migh I fis 'tra lx affl-ct t he aititîitti utîter t a(asi itty lffuriligan )txp)rttitnity ut ré-tanigiîig tse notis iii the lrî-asnry shu-hnri'cuis'd, and thitîs îrovî'uîiag Ieir presunt.îtiu fotr golti. Sutei retention. to be tîseui, atîglul ta be aI lt-ast tueanrally permanuent;t. and tI i t îrcciaely wstaltapeoiibitedsi, 0far as ULiteti States notes are cancerimuti.iy t' lai- Of IS.-8 fariiddingt teir itîrthe«r reliroment, Titat satule, in se many rwords. protidesltaIttese nolf, ta-lien reetu-o tt,. te lreasîîry ansi betonging ta lte Unitedl States. ahal ho "paid ti again and Leîîl in ti-rculalioîî.- Il s-ii nioreover, lie readily st-en that lte Gos crnament cotîi not refuse la pay atl tîtIit c i tites notes andt raaoury Dote".i (ar- e'»ttrlanqac-liuns suheu sicamîieu. attla inîisl an tasilint 11ils-e alune andi stil nînaintain lte l'aiS belîs-en itînie-tai andtihie carreincy reîîîecentiag gîl. Be-- .iuit-i, te ucc-ututition in lime tt'i-tsurfl> i currPtîcY Of ah! kitîtiexacîcil trameinii PeOlîl titeougi t Iasîlon ta justty.m-igarded as su cvii ansi il etnnal prou-eil tîr ssitîi- ont sigorous i tettagainît anu înjnstiii- able retcntion.iof mono, fromaIlIi"bu 6i'sus ut lte coutry amui a denunintiou iii n retieamo -atixat îtion i ravi-el-f ta ho tnjîit lsieu il takus it thIe carîimiigs anti ini-otut(Itithé- itizetus uititac- i. ranchit next t's f«lte needts et gî-,i- tut-tt sautort ltai large hsilitst-au bit gatt- er4 'd tiikî'îlta inte Iressue>-.Stt' h aî-îx11- ditionlitas liîretîîfore. in titeut fsurpluis revute, itdIltle(iai-orIMîiuîta oreStuxe- currcncy t lt e ptiuite by tthepitetlise of Ilts iunia tire-si utis a nlarCge itrenitini andxY lîaaig-e in-ruae afi lîxdeposits it ntional xaks, allta si-oeasiîy rx-Ulnln.fc thal lte abuse of lreasîîey ax-cuulation lias turnisiitet A nutatPesuasiv-e argîuent lu tai-or ai ioiiation ratiicaiiy reduc:ng aur larif ltaxatio.n. l'erhapsit i tasuppsedthâiatt lfi.I'eut rnuenne tcîls siouid iii a sentimnental sai-nynProve te situation. ity inmiiriing confidence iituin sols-ency autllasilayiug lit ese ut ttccluîisryexitatstion. Allîa yet, tummug il ahune strttggies ta mainlain ounegolti resert-. tîterne nver hbiecu nny appet-itemîsion as ta eur rcady abllity lu pay aur wny siitit hMet rlaîey ns tee boa; andthie question wviether or net Oui- carrent recelitîs aittOur cui-gent expeuses banlDotelere inbta lte estmmale ut aur salvency. 0f course, lte genenal state ut oui- Candi, excluait-e ut goiti, s.ieut- tii-elr immaleî'iaila Iote orblgu credilor ans i laester. M@ii ebt couisi anly lie pai la galil, anuI hi@ aniy couceen usas aur abiliîy ta keep o antau ltIkinsi af On Jaiy 1, 181)2, more tita ma year and a hait hofOre lte firsthonds uvere issuesi te repienisit lie gaisi roserve, titere was a net balance ilte treamui-y,, exclusive oai icit reserve, Of leu titan $13,000,00; but lte glir -serve fon -d *kmare i 114, t'n sîltlîiul -eiiee h l wlslito be cta n a t a e s q e c s x e î itîtt t im r de , th t i l e ale renasmîre ltee rgitlentî it a ittmke l.le for lte Ibeot lit dai 111et tiesire Car goisi leas intenîse. I usalitt'oîuid na idrîge an hîeqttatltyta s'iemr luotean luîci'onse !iiirevenui-, tiàiltiscet. lbletsic'un guisiandti u-ut gI u if~ lie inigoiti. ea a sitt huse she t,111Y ont ratiou, allr iter. lhe leisat- anxiety tr Iolu igîlî gtîf rotulte tî-i biilit5 -ttit tolir country, utblet itou intulî to lare. I:uctisanutt, thiereiuîrce, ha n imam i esstrtih tof lteie 1-r îlia muf tilexrt-lt- mqteii i i-rettuutsi. re-stiiticrs lte 1uutîriul,-utlîl'l ilsaction -~tt il u-tt-Ii- otte îîm'eemîît roubleu-,.taItuily ,.uîîr assît but aIl aIlu'er 4eo.fêo Il it ltossble thaut Il m uggsiona ciratti ioillait guulî urteateapt te - iner-'i'setl reveueitî as a renîî-îy fat-Ile iilsh it tti ty the tri-t coinage o£ lle- îitlitîîities uit'lirs'-tuîîîsidcrnimg iia yltu'î t t iletdiffering widut ly frtramactuant£l - merigiit i uato i itimaîîutioor titsu iitxilise viilti it ihllic lte aigntal Cor hp - aIleguliîîtliitlt tîîl utt aie tîîtxett.iî'îurîn'futgolîl fi-uta car @hf'î btt-en oitti unt-ut silet e. it'repti-i i u - i-u1tii t1, Ileii' niquire t anti large *4 i.ii - g'li (S.eî-rîî u e rt- i>-l eii.i1, s kut-traltIonxiii utf ir e-la iug nmedinum, sisd a iitsiifitvieimîr--iit -.Notîiîg <tai teltu' ii-- ltinkagi' luii' relt-sviaine anti manetgw Itefetutiii'- trutllit. WI$,îiui'î' s ti-lifrhiicni',i' iiaitlalter torans 0f1nteef lu oltîsitu giuisfor thet-nute'nantceI ,it amue 110Ytht-y tled tOIthlei-ci aIier muas.' nationmalti'ul. As liasltcihomuici itbel ll itllisi. Its ory une siho recelvel 4 goui tits otuîniîîesilins be'iomutiiaîiatgti lii-il aalary anui cie-y uutiker for vabsql frontlte îr,-xîstiry î'o -i i .il,t,'s usotîlîl finaltltlie dsollar ibis baud rutbluaia nîote'samîdilecasuri' notes, Tlits uiîsra ion it Y scuilcîl tai-n te) tb' point et bittz î; 1j ixwoul bhat-é-bt-n itrîtatl>- reum'mit..if nclpaintint-iît if aluitulapiuichitsg pr vum jiosmilule, bueI te nouestas-img abuis Warael by Bistory. liom'tiLsl'u te)Ituhie lreary tbuy itcanite Att iisînr -araus lainsîrsbei IUm t lte it o f aitti' <enveientt t. l h it>'y cîîa it l ihtronen vislent biu t otile'riuîminry ljoviriitaxÀit fitutît, is. itîl itsu uuîtary etanidardlansi lte-dta tîmîre sias aatiing t tu)ibt te, aise thut-t ttu ut ofîîîîe î-rrs'îui-y. The eut aI uIN, lii pa> ing -Uuu's-ntunt-i t ctxci%(s %%uslt-n les.îson lîtîui-Iitiîg cm uaîy lt.e eccca" nt-îdu. danmge-rs, but lte ntional immoeSllltb* - At nm i tjutuslieut bondsla lai-eii teil- folirotit helii'train oai-Juîiîeu rIOst siil bits tti-rt' licou at>- -tîy 1îiott . %,i i su oi ît t-'iiet tAinerfican pQ0ogleý lii.- qitestiaui utpsy iîg it xtîsuth',i' -amnluie rtîmti ttar."boht-r eliberi (it -iaetuilli titoir liraceiîls At iii' ta jîîîîuîmnuize lut-te uation*s prestge «W limit ettaüdi bondtt isuei-c liait i .tt"itc roittîstattuting l'y î'îucuraglng luisehi sîtrîi m ris iihibs' roasuev tor nid ia:t-tti'yl- iitiui«nia, tit lita t Wtt-y t ildeiite tâtil- nu iiut-. txt-tlus.- utf Ileii'goid itri irr i-- ti leau it îxrîî o-a (- bruî't)aîmoine>, wbMs"1 sere. e, iil-tbriuary. 1814, si-Itou le irxlti-irushlitalItntt tarenait la 1 tt is'ut eoaibattds tua s imade.i- ittit ;tlrli.ts i-st ýku'uinîg of tOin t inelal lntcgi-ty 0 arnmtuîîutîd tt t-m e $19,fNNtKtO; iiSîtti 't.i' o t' h ittant uin r islIf. liser, uhlit-aliie -oilissuei siittii - ti t.httta . ,III -u-t1'ri , (Ii#rialmi as enee a nuiuiit,'u tt maore i la n $1*4.ImwitStOs -î JIttt..traits tetf t' eAitil-aîtsta. li tt--irîxa ry-,i w. ulit îî but tii t tçt (tLI ir viitrylCis liiimlieleuta, uu'te itirti tut' su-irt-'-ii .suttietrpiut avu. it t,> tht tu-enî.lou- exiting Ie tîis. tii- t-ti-cr flte I-ti ,I-Io1 --r en,-t- lit Iu-r îrsî'tI s.tandard, ututtlîtit i httci t etu i I tîtîtu t i t ii ' " 'i> i i'ingri'NS nltI lIe nti tiit- tii ,r(liin;tay rt-u i ti - ,, .î î- ui-t i iitl'e- p ale ui'in lt-su 'aai mbl a- tiii tXîuO'it tî,.îti:t ttesus tilli tIti'Contemapla b ttxxthit it tiktltrp as lia. ilt-tu stuxu iii andi (titi inst u ii-iswa utt-onf i d( Ixit-gartii tg îli titthé 11 ri , îî tilitl pera ltta trmqew -i l th t fý1vn - %ilo tc m esat us tltir.mt% i fgtîtd. tIt s%%:i theiliitu-rt titi !ii arimtutif iiproptrs nsi a yeluUell trîu'i-s-ia ti ult ti - litl( i i it - îgalu- tf 1rigli t-i ilit ii eîit1-iaimantit u acow~ alifixtilig lan ti.he t îzili-Y t iittIl 'a lit-. litit atdttirta-i-ry itttri-sfI .- gu,!I i i---, Titisu thoada i uate a blini and i ad, iýd bth iir ahitiiit-t N ii ut tuttii s ttuigtimit a fee i-unage lit ltéuaielet iil- tu-tite uiij-tt tîtttuar' li.i'.iiiît, rieîsail4g lte belleot cqu-- gtutxttt'i txtctxlri. Aliixî1, ui'tra ltaiixt-ii't etlil iicantl thbi. tuut ttltlim i iiriui :in cui .e'r ta., >., i-a en uitittle stauttuird antI a Cone silvitr i'ytît î;riii %,,t ta s-tutIti-îiii,:,tItuf butoita nilais lanmu I'tle 1-41tiidat- v t t .1111 'y. I sutiX suu xt i it -"uitugu' tir -t - .ti i itiy recotu lug frian (Iu gtîtti lotnti aie tii-utir; tit,,î xx' ut- 0,11- vttutistî.Ou irs-ment standard ~-'t in lit>tu-uiitt ,ibsI u- .ri-lxi-mt-a 'iIi ttof tîî iâ at:t- st5l1îiî,I mf the CiJI-lise tIitix xui it I lt-itx(lhîî-r*, j""4.l iam t ti le tu-ti-t l e]utu1 îttr t h e taoriy bimetallm t>t'tty igtîî thl i l u ti-ts x.a ti'bitiaittt', ir aii sliti hs l wl r tuti -t! tuist'x At-:ui-i11u.1 îistatut h'Iii(-tt-.hiiruaiýi Ifut au>-single mjin, itî s §iii nxi-:tsî -I u-ny ltr'-,i-. tiiàhi e it t O s~ isitt tit ntlinil ttrîtitii'edtIj I-t a h uitet tlt it ulit, - I.MWbiVth intu slt- It gol.I aq astanall titi pasage t f liait lais- iii ce as a-.h ai -id , «. ii tli' !i'- atuxîttt %ititisersleal le tîtori-îialxirex;] xi liiaIlM.nue, hIltittia ie t1:t uttijttu-'uUxx wfln, ildoias tnul do. takit -i:t ouilii- trextatr u1--îttut-i ; i-.. ltî- i- hutes-k i.kts banleiat .îitti tttt.antI1 et:C'itr> n utItl -atf- tIt-itr s'rlI iireteta il lI« sudeienlufreWsd- >itiký t- r lttast-s ut:IN suis ltit illutiatuîu itiult ti,ttiI-li-t i ii'îlatitn aà uolaie elS tuiti r L and11 ai-t' ii uttit s t tti 11t- 11:iiii- è4- ii-r --trit-i-y iuet ituca qualîng. s01» dîii-Iy piot r i a - t i i s ifie r xi t' rst ttt-su11ttit.-.'.t imug iî lui amouant, bailli iii> -f tfJatituxr 1 47t¶, Uttiti sîsu Jo lia> aru îttittiiaii aî muitarit' notwits-tàuai asi utt%." nu aitmt. j mmmc utluttîr-- uhitia or flutctua lainte 1 ix is tut-th iti titi taxe r , i 5' * ta t-list- triton i , 1 i flit er ut. a large i-hart- of otî r -sent t iicttiai per Tu-u aa.sltifferpucsî belteel a iltxiliesanitm dagers C, inte xtîîraioî01aiOf '1 "il a"et mIi-aIu n d tba cul»"'ae f lte astsofilS1714 atîi 181)1) conipei n iigluit-- îsiîay tiseThe sanduard aman eCiPll pîîrc-lîsa ai ilierl'y lte (iitrmntasarity hoîe iýied c tetaini. The currsee su-imhicit l ttly ftimtheii anenisi-treasuuu-mias Le litilhei -îtttrnîa sund of yaxrIeu, _ oiigation it;uin uhlit-h ia i-tsIti otîllile kinuls. '%lails er-smantiard tuuntry haa vititdratsn. butsao iicreaicdthettcfinir ot olul cturemm-y i tire(ulatiun, but u«w an ai-cru itlnutg deuil ut su-t-r anuia ltizhieneý d %vise s5551cm ut Onau.pm -ý fiti-eisiesceýiita le Jier payatmilsitaititras te hout-fis tfce lt ge XIdi sl) PM. t os-tnIlite rej.eah ut Ibes halta L'di o m ii eure'nt-y anti clrenlatingnit* 11ý_ liruly ture te cuis out Ieir ekti-i-m. I s'-iit; the i- tnilim-ti tale ansi ail *Iq, Fi-ce ilv-e Colsage. curu-ecnt pairpanii-Matlt I. Stick àgyor Wiite1t usas cnuii-istxing ta m ake an utulàaî,lî n mmdard taise give fri'mep plat ii atai u'îîît îu t-f te miisordjtii'ixI f,î iethîle tui- an-i cxima iaut ut ofsafe tasiex> ti utut "tir e ii r-nu iti tiii'proneto ;n .~ sc-At-e iii- celiî. su indiaiepnsable tebillat gm-h nî'î-zimîiuiilur ogpt-rxty landtiulx axg- I atitigrtta-imli-t'aIinieu-cituiitransactins ud - gosua s .î suiiu ltutsla aam'rluta,,,iii cli auhaltituleti for lte actulialle q0 t-lai susu-i, Ihui'oivtnntty lndi in îîîiid tiaMui lthe Dtittient t tuauuy tut nY ciîî>uî-, If tuathil atistabîle standlard Io animbe wh. 1 --i> (1,, nit titttlt. iii1tst hl tt ut. Iitcgslte magnîitudelcansi a.t tht' i-ire itor tut' iîti iiit CLatt-ii iiii, i oiter t oiiimermhal I enýti' ouaansid ui niai-lie- fuitinu te ,nI n tIl snItaui u-s ri .tire. lte uise ix!fmmie>'itleif kl rt-rtWîflyutiti'-tnt-e taintage tf iiî ou'.Tht-*y ct>liehittt>lniiitianizufd. Eery dollarel couendtha cu mits hnt hent l,,c, ud iabe vluebas.,ltrougi thé. titroîiuuon ita lte frît'. tîul init i-i .1ja i , taf-1yofCidtnuntta ti-t'ttimi xinage af both gutîtit,]îetlvser-o "t- - lttfil ut ttilll iitg iléic In lu aa.-,., doitana. outflliit-gai tenilu-r tuti.t> - s-tiik .1-tr i mtstanud flucuatl gaiilt-t-s ot liii' ation tif any aItit- (I ,i- dolltar eafltasa c Iis ri itl, aud lai k»'f7 i lil ilitit antu ulul ticî ofthetiti'oîî tî tuat',S,' ltî-gî-îs gtmrîîing. Slt--iaiun atdéa" > lte ratCo t-outi lte amitaitstw-iî,lultt thi-Y 'IePit'. ithe fouixntiiiiûita bottiitane ellataim Sxtgg(s ai tutifor 10toi ' i iitotuf guil pi s in liii' giuiti(t01oa1. e t Ilie sti ' tr I liui omîet xiroelt]aluexpress myself os antdx otut> lili cet- itii i tisic usurit l jti skiIh Stlt iluili i-itîi'titeta nadiph"l âils -r ii, t ili-ce'doilai-.tii-"s oftp elo-iibet'unai'c onI iid myss tic ut-C lufiuiîet atrnger ~ t~of tIli., tI ti lth çre lts -âla t lite piog Were:lire ininitl ' sllngtîflitht-t' rce etinage tit olIver. #4 tittn -ait ht- adduIt-t' i e tr iiottr i ttIw Ftt -,i i ituitt tilandtit I it SOoi atit-uit u lIlti tre for is a nuu-tl ivoae yit utiuI fsye cx rniey mis i ng oih t-a ut lof prit l.atin I ult t' til t s lie n ll te ai nîy a purimntitsuo tci titidittarutlatis ~It-su dt, taCiiiluolunu c 1, ofmine ia proiti--d i migit ivlasta l~gger tloasi %% ho fwJ uturie tîî,mi n ude fotl sthe îIuliamurs55 liv l tbit-i-e hual iiiatuiperuitiveei--ut i it'Üaie tu putblic- tndi pris-il e ititegi-II hion of sotuuiiiotcy. No gut-ermuurimt, lin tta bot-amuse 1 doî fot ditînuathlIe gaît humantolii-it ticeor art oft itgisliin taille ansi miîîîerily ofeti' s-titii-ressIais tans ëe-enaouestila bol lte tuto uitais acîtIeine ilit I liai-e iniltcrri't'iiy, but Wit togeiber lu froc cainage nt a eati-,uître zeiul, albnuituxîl u! tollmiti upon tti esnluly difeiecnt trainliat wis lul ieta t-s- niioontunsuîwjet t auout reî,alai Titose si-ho bt-iei-e Ilual aur iiilî-îui-axis- vuit-uts andbellotst inte îigîut ctfpatrluati. troc cointugeofut ihs'sr n aI riuI-jat ýâo n fmfa eliinc n ratio uitlitgoltiof 1in ltt1 wui'-îl restore uso atiftîjncloine ude te par,> ty ioca tntheiitaii, nti Con- îf-î'il agaimi at mîglà;tn iire m'ouîseqgeut IlequtitIy heli-ocu the coins, Oppose aun isu-uleiiitoi i l0i- fi-t unstiplorlesi ansi improbable iteoey l uuf-l-Funlt itt hiae 4Yi. tegatrible npatreuofthtiti- abjei-i asda gi-enlly t ll.t. generi helci asi- pactieaialterctities utof tiuiugerona inttunl alu*i nionlas, andi la tijieti-aciigs ni lte sisestaiî yfrte p ts alatesmen ansi ceunemsaiolte i riI nconclfuioittn, ts.eil nrn bath, a inte paîntsud pi-tsent, ait-. stat aauu-îauî, ataai nra la far moreo concluait-e. tcry cucoîulor pt-tule'sa etprecantatiu'osltIio.Ooo - to tht-u is-n acînni explau-. st-illire citai-gos>uslit e r. - - - Tu-ice In ont- 'esilier blutai-y o a- finiaugneattuîg maituures for lb. malier, in atlempling ta estahlaI lsi i. aiuml prusperils of caur commois maiale t-niremity, uudoi-took fi-tt coin- ho praaiîtl>' ansi effoctisît.ly cottaitl agît upon a ratio uviî ci eîesîy s-a-.illa et aur crilicsi finaliiîiai juUwot rit-sirtr lte attuai relativ'e svaille,@ afhave suggcsteil a rt-uuiy svhl<îh m-: thte tuva metals n1et mare titan 3 per ce't. ment appraves. I desire. bivteWet Ir.lant aIses, nolwittndin c ltramautre lte Congrel tit Ia -s7oe