The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-06-06
AN EXTRA SESSION CERTAIN.
PRESIDENT CLRTELAND MAKES 4
STATEMENT TO THE PUBLIc


Tie VIII Call Congress Together Not Earlier
than tho list Nor Later than the 18th
OF September, Uniess Unexpected Con-
anEencies Necer.itnte m Earlier Date.
WASHINGTON. June 5.-The President said
this evening, In reply to n direct question by a
representative Of tho United Press. that he In
tended to call an extra session OF Congress
not earlier than the ] at nor later than the 18th
ofseptem Der, unless un OK peoted conting zen cies
should necessitate an earlier meeting. He
added:
while there has been no mystery nor
secrecy In regard to my intentions In this mat
ter. think It not amiss that our people should
be informed nuthoritatively that the time Is ut
hand when their Representatives in Congress-
will be called upon to deal with a
financial condition which is the only
menace. to the country's welfare and
prosperity. 1t 10 we'll for the people
to tako up the subject for themselves and ar
rive at their own conclusions as to tho merits
OF a financial policy which obliges us to pur-
chase idle silver bullion with gold taken from
our reserve. Ono does not mood tho eye OF Q
fnancier to SEQ that this gold. thus subtracted
from the Governments stock, is eagerly seized
by other nations for the purpose OF strength
ening their credit at our expense
1T docs not need the art Of states an ship to
detect the danger that awaits upon tho con-
tinuanco OF this operation. Already tho
timidlty Of capital Is painfully apparent and
mono OF US can fail to see that fear and appre-
hension in monetary circles will ultimately
bring suffering to every humble homo In our
land.
Il think that between now and the meeting
OF Congress much depends upon the action OF
those engaged In financial operations and
business enterprises. Our vast national re-
sources and credit arc abundantly sufficient
to justify them in the utmost faith
and confidence. II. instead OF being
frightened, they are conservative. and H. instead
Of gloomily anticipating immediate disaster.
they contribute their share OF hope and steadi-
ness. they will perform q patriotic duty and at
tho Same time protect their own interest. The
thingn Just now needed are GOODNESS and calm
ness in financial circles and study and refleo-
ton among our people,"
Postmaster General Bissell returned to-day
and Secretary OF Agriculture Morton and Sec-
Rotary OF the Treasury Carlisle arc expected
tonight. SO that Secretary Lamon will be tho
only absentee from to-morrow'e meeting Of
the Cabinet. Reports have been in circula-
ton for some days that tho Cabinet would
give immediate attention to tho alarming
financial situation. with q view to adopting
some radical policy OF relief
As far as Gun be learned here. however. the
reports are inaccurate. Thero Is no reason to
suppose that to-morrow's Cabinet meeting
will have any special importance as far rs tho
state OF the finances is concerned. A member
OF the Cabinet said tonight that there wore
other questions to DISCUSS and the President
and Secretary Carlisle were quite able to deal
with q financial crisis when It shull arise.
Judging from tho best information obtain
able from those who possess the confidence Of
the President, II Is apparent that no regards
tho Sherman law as the main cause OF the
present financial difficulty. and that he is de-
termined that the otn oxfcus stStutS sfinI Be
repealed at an early date. At present. how
ever. Mr.. Cleveland regards a policy Of nom
action as the wisest one to adopt. and
is not disposed to have the Treasury take any
radical step until Congress has a chance 10
lcgislate. No ono in Washington who has
knowledge Of how the Treasury Is con-
Quoted. or who possesses influence with
tho Administration. will endorse or even toll
eratc the latest means OF relief suggested. that
OF selling greenbacks for gold. The Treasury
officers say that there Is no shadow OF author
ity on the statute books for such STEP and
that it would be worse than useless as means
OF replenshing the gold reserve. high
Treasury official described the situation to-
day as follows:
THE expenditures Of the Government are
more than the receipts. Some way must be |
found 10 increase the amount OF money In the |
Treasury. and we must look to Congress for |
this"
Mr. A. NJ. Wyman. who was for many years
OF the United States. but |
who is now engaged in tho banking |
business in Omaha. WAS caller at !
the Treasury Department to-day. He said |
TO Sun reporter that the financial situation |
is as bad in the West as 1t Is in tho East. |
Money Ia scarce. and business men are hard |
pressed for funds. He attributed tho present |
difficulty to tho continual purchase Of silver. |
The business men all through the West are |
more or less affected by the present unhealthy
condition OF affairs. and those who have m oney |
are guarding It closely. fearing to invest It |
with tho same freedom Us heretofore. Mr.. Wy |
man contends that tho repeal OF the Sherman
law would relieve the Treasury. and In that
way confidence would be restored throughout
the business world. At present the people are
growing moro and more timid about invest
ments. and. consequently. thero Is depres-
sion In almost every branch OF trade.