The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1893-08-12
The Presidents Message.

Mr.. Cleveland's message to Con
gress is plain, concise and to til,
point. There is no circumlocutio,
or doubt as to his meaning, and W,
unhesitatingly accept and endors,
it in every particular. He deal.
with the two living issues of the
hour, silver Legislation and tariff re
form. His logical conclusion thai
three years of financial depression
amply condemns the Sherman bill
is center shot, and meets with
hearty echo in the breast of every
patriot in the land. His reference
to tariff reform plainly shows his
position on this issue. The mes.
sage was handed in at noon Tues
day, and is as follows:
To the Congress of the United States
The existence of an alarming
and extraordinary business situa-
ton, involving the welfare and
prosperity of all our people has
constrained me to call together in
extra session the peoples repre-
tatives in Congress, to the end
that, by their wise patriotic exer-
else of the legislative duty, with
which they solely are charged,
present evils may be mitigated and
dangers threatening the future
may be averted.
Our unfortunate financial plight
is not the result of untoward
events nor of conditions related to
our natural resources nor is it
traceable to any of the Affections
which frequently check national
growth and prosperity. With plen-
teous crops, with abundant promise
of remunerative production and
manufacture, with unusual invita-
ton to safe investment and with
satisfactory assurance to business
enterprise, suddenly financial dis
trust and fear have sprung up on
every side. Numerous moneyed
institutions have suspended be-
cause abundant assets were not
Immediately availed to meet the
demc6ds of frightened depositors:
surviving corporations individuals |
are content to keep in hand the |
money they are usually anxious to |
loan, and those engaged in legiti-
mate business are surprised to
lind that the securities they offer
tor loans, though heretofore salts
factory, are no longer accepted.
Values supposed to be fixed are fast
becoming conjectural, and loss and
md failure have invaded every
branch of business. / believe
'hese things are principally charge
lble to Congressional Legislation
ouching the purchase and coinage
# silver by the government.
This legislation is embodied in
statute passed on the 14th day
f July, 1890, which was the cul-
aination of much agitation on the
he subject involved, and which
nay be considered a truce, after
he long struggle, between the adj
COATES of free silver coinage and !
hose intending to be more con-
ervative. Undoubtedly the month
purchases by the government of {
10000 ounces of silver enforced {
nder that statute, were regarded {
y those interested in silver pro- ,
uction as q certain guaranty of {
g increase in price. The result, t
owever has been entirely differ G
Mt, for Immediately following a {
spasmodic and slight rise, the {
rice of silver began to fall after |
le passage of the act and has t
lnce reached the lowest point ever
nown. This disappointing result s
as led to renewed and persistent r
fort in the direction of free silver r
,inage. q
Meanwhile, not only are the evil a
fects of the operation of the pre- [
mt law constantly accommodating, s
Mt the result to which its execu- 8
OH must inevitably lead is becom- @
g palpable to all who give the q
le least heed to financial subjects.
his law provides that in payment c,
r the four million and FIVE hun o
ed thousand ounces of silver bull 3,
On which the Secretary of the k
is commanded to pur- W
lase monthly, there shall be issued d
easury notes, redeemable on de- s,
and in gold or silver coin, at the il
secretion of the Secretary of the Il
and that said notes may e,