The herald., 1893-08-09


one important aspect of the subjec
which especially should never be over
looked. At q time like the present
when the evils of unsound financ
threaten us, the speculator may antici
pate harvest gathered from the mis-
fortunes of others; the capitalist MAJ
find profit in the fiuctuation Of values
to be injured by deprecated
currency and the last to re-
ceive the benefit of q correction, is
practically defenseless- He relies fol
work upon the ventures of confident and
contented capital. This failing him, bis
condition is without slleviation, for be
can neither prey on the misfortunes oil
others, nor hoard his labor. One OF the
greatest statesmen our country has
known, speaking more than 50 years
ago, when q arrangement of the cur
rency had caused commercial distress,
said: "The very man of all Others who
has the deepest interest in sound cur
rency and who suffers by mischievous
legislation in monetary matters, ls the
man who earns his daily bread by his
daily toll" These words are as perth
nent now as on the day they were utter
ed and ought to impressively remind us
that failure in the discharge OF our duty
ct this time must especially injure those
of our countrymen who labor, and who
because of their number and condition,
are entitled to the most watchful care OF
their government.
1t is of the utmost Importance that
such relief as congress can afford in the
existing situation, be afforded at once.
The maxim "He gives twice who gives
Quickly" is directly applicable. 1t may
be true that the embarrassments from
which the business of the country is
suffering arise as much from evils appre'
hended as from those actually existing.
We may hope, too, that calm counsels
will prevail, and that neither capitalists
nor wage-earners will give way to an
unreasoning panic and sacrifice their
property or their interests under the in
1luence Of exaggerated fears. Neverthe-
less every days delay in removing one
of the plain and principal causes of the
present state of things enlarges the
mischief already done and increases the
responsibility of the government for its
existence.
Whatever else the people have right
to expect from congress, they may GER
tainly demand that legislation con-
demned by an ordeal OF three years. dis
astrous experience, shall be removed
from the statute books as soon as their
representatives can legitimately deal
with it.
1t was my purpose to summon con-
gress in special session early in the COM
ing September. that we might enter
promptly upon the work of tariff reform
which the true interests of the country
clearly demand; which 30 large q ma
jority OF the people, as shown by their
tuffrages. desire and expect, and to the
accom- plishment of which every effort of
the present administration is pledged.
Rut while tariff reform has lost nothing
OF its immediate and permanent import
tancs and must in the near future en-
gage the attention of congress, it has
eerlned to me that the financial condi-
tian OF the country should at once, and
i,e ere all other subjects, be considered
~ your honorable body.
! earnestly recommend the prompt
*nral Of the provisions OF the act passed
II, 1890, authorizing the purchase
80 silver bullion, and that other legisla-
ce ection may put beyond all doubt or
.n,-take the intention and ability of the
enyernment to fulfill it's pecuniary obli-
sltions in money universally recognized
by all civilized countries.
GROVER CLEVELAND.
Executive Mansion, August Z, 1893.