US Presidency
1895

While nearly $ 103,000,000 of this amount was drawn out during the first ten months of the year, a sum aggregating more than two-thirds of that amount, being about $ 69,000,000, was drawn out during the following two months, thus indicating a marked acceleration of the depleting process with the lapse of time. The obligations upon which this gold has been drawn from the Treasury are still outstanding and are available for use in repeating the exhausting operation with shorter intervals as our perplexities accumulate. Conditions are certainly supervening tending to make the bonds which may be issued to replenish our gold less useful for that purpose. An adequate gold reserve is in all circumstances absolutely essential to the upholding of our public credit and to the maintenance of our high national character. Our gold reserve has again reached such a stage of diminution as to require its speedy reenforcement.