The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1893-08-08
|uo Advocates the Repeal
of the Sherman Act.
WANTS A STAPLE MONEY
(which Will be Recognized as
\ Money by all Nations.

n Associated Press 10 the News.
WAsu1NGroN, ID. c., August s.
Early in the day it became appar-
mt that the time of the house
Sould be consumed in hearing the
nresident's message and deciding
he preliminary questions of organ
|,stion, and that no substantial pro-
rress could be o.day made in enter.
Enp upon financial discussion.
When the house met the opening
prsyer of the new chaplain was
brief. The reading of Che journal
of Yesterday was monotonous
proceeding and consumed over half
sn hour.
Immediately after the reading of
kbe journal, the presidents message
hot having arrived, a recess until
l2:45 was taken.
When the house reconvened at
haas o'clock, the presidents mes
aage was communicated to congress
sn1 read by the clerk of the house:
10 the Con gress OF the United States.
r The existence of an alarming and
Extraordinary business situation,
Involving the welfare and prosper.
ity of all our people, has constrain-
ed me to call together in extra SEES
sion the peoples representatives in
congress, to the end that by their
1a and patriotic exercise of the
lgAative duty, with which they
|plely are charged, the present evils
may be mitigated and the dangers
threatening the future may be
bverted.
Our unfortunate financial plight
Is not the result of untoward events
bor of conditions related to our
Natural resources, nor is it traceable
10 any of the Affections which fire.
@uently check national growth and
Sprosperity.
n With plenteous crops, with
abundant promise of remunerative
#production and manufacture, with
unusual invitation to safe invest.
|&2ment and with satisfactory assur-
Vance to business enterprise, sud
&denly financial distrust and fear
have sprung up on every side.
Numerous moneyed institutions
have suspended because abundant
assets were not Immediately availa
BILE to meet the demands of fright
ened depositors, surviving corpora
lions and individuals are content to
Keep in hand money they are usually
anxious to loan and these engaged
~ legitimate business are surprise d
70 Ind that securities they offer fol
loans, though heretofore satisfac
'ofy are no longer accepted. Val
aes supposed to be fixed are fast
becoming coniectural and loss and
failure have invaded every branch
Of business.
believe these things are princi.
Pally chargeable to Congressional
legislation touching the purchase
ala coinage of silver by the general
government. This legislation ii
embodied in the statute passed or
Inc l4th day of July, 1890, which
was the elimination of much agita
'lGn on the subject involved and
Halcn may be considered a truce
alt as.tf long struggles between advo
.a'es OF free silver coinage and
snOse intending to be more con
sentative.
Undoubtedly the monthly pur
caa n by the government of foul
million and five hundred Thousand
S s' OF silver enforced under tina
s sasa'e were regarded by those inter
.s s;ea IN silver production as a Ger
price.
., me result, however, has bee
entirely different, for immediatel,
,,H; aa the spasmodic and sligh
t faM the price of silver began t
ia'i eiter the passage of the act an
su ss since reached the lowest poin
rss v, known. This disappointin
, 0a.' has lead to renewed an
9's'ent effort in the direction 0