The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-07-01

The President Desires This-Ex-Pres-
ident Harrison Shows that the Sher-
man Law Has Been Made to Bear Too
Much Responsibility for the Trouble
Likely To Be Passed.
WASHINGTON, June 30.-At 6 o'clock
this evening the following proclamation
was issued:
''ExEcUTIvE MANSION, WASHINGTON,
DC.
Whereas, The distrust and appre-
hension concerning the financial situa-
ton which pervade all business circles
have already caused great loss and dam
age to our people and threaten to cripple
our merchants, stop the wheels of manu-
facture, bring distress and privation to
our farmers and withhold from our
workingmen he wage of labor; and,
Whereas, rhe present perilous condi-
tion is largely the result of financial
policy which the executive branch of the
government finds embodied in unwise
laws which must be executed until re-
pealed by Congress,
NOW, therefore, I, Grover Cleveland,
President of the United States, in the
performance of my constitutional duty
do. by this proclamation, declare that an
extraordinary occasion requires the con-
vening of both Houses of the Congress
of the United States at the Capitol in the
City of Washington on the seventh day
of August, next, at 70 noon, to the end
that the people may be relieved through
legislation from present and impending
danger and distress. All those entitled
to act as members of the 53rd Congress
are required to take notice of this proc
lamation and attend at the time and
place above stated.
"Given under my hand and the seal of
the United States at the City of Wash
ington, the thirtieth day of June. in the
year of our Lord one thousand eight
hundred and ninety three, and of the In
dependence of the United States the one
hundred and seventeenth
"GRovER CLEVELAND"
1t is almost conclusively established
that the calling of an August session of
Congress was not even determined until
after midday today. The plain facts ap-
pear to be that the disturbance of values
arising from the uncertainties of the sit-
uation grew so alarming that Mr.. Cleve-
land was compelled at last to acknowl-
edge that 1.-THE unexpected contingent
cies' necessitating an earlier meeting of
Congress, of which he spoke in his inter-
view Of June 9TH, had arrived. From
the day when the announcement of the
action of India was made, the President
took steps to keep himself forewarned
through press dispatches of the slightest
| approach of panic in the money market
and was prepared at any moment to take
the course which he has now adopted
| if it seemed to him that his so doing
would in any way tend to allay alarm
and restore public confidence. Another
| consideration which caused the Presi-
dent to change his mind was preshad-
owed in remark made by one of his
| cabinet officers two days ago, that if the
President received reasonable assurances
that there was a likelihood of repeal
| of the Sherman silver purchase law. he
| might be disposed to call Congress to-
gether earlier than he had announced.
| 1t is inferred that the President con-
siders that he has obtained the assur-
ances he desired. Most of the cabinet
have followed the Presidents example
| and left the city for brief vacations.
Those who remain say the Presidents
proclamation speaks for itself and de-
cline to discuss the situation further.
The President took steps, as far as he
could, to prevent his action being known
before the stock exchange closed so as
to avoid any appearance of exercising
undue influence on the stock market.
The effect of the announcement on the
Senators and Representatives in the city
was very marked
Senator Voorhees,, chairman OF the
finance committee. said: s'Inasmuch as
Congress has to deal with this subject of
finance, it is well that we get about it,
and the sooner the better. 1 do not
know that Congress can or will bring re-
lief to the country, but 1t is our duty to
make the effort, and there is no wisdom
in delay, especially in view of the fact
that everybody seems to be depending
financial trouble. I have no doubt that
eeo oOoh eeS OOASrAOoo S5OIo W WOIA ~ Will
repeal the Sherman act I for one shall
vote for its repeal"
Senator Harris, Representative Dock
cry of Missouri, Mr.. Bynum of Indiana
and Mr.. Brow Of Indiana all thought
that the sooner it was done the better,
and believed in the repeal of the Sher-
man act.
Representative Enloe of Tennessee
said: "It may restore public confidence.
Still it is question in my mind whether
or not Congress can furnish any relief.
The country, however, seems to think it
can and it is the part of wisdomIfor the
Presidens to give it chance. Public
confidence has been shaken" Mr.. En-
loe said he believed it hardly probable
that the Sherman law would be repealed
without substitute.
Representative Duborrow of Illinois
said the President was right in calling
an extra session in August. He thought
the immediate result of an extra session
would be to restore confidence.