Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1893-09-28
NEWS BY TELEGRAPH.
From All Quarters.
OPPOSED 10 FREE SILVER
The President Desires a
Sound Currency.
sURpRIsED 1T ACTION OF SENATE.
He Says the Sherman Law
Should be Repealed.
EXPLANATIONS BY Mr.. WHITNEY.
He Tells About the Ease of
J. j. Van Allen.
EXPLANATIONS BY Mr.. WHITNEY.
HE WANTS SOUND CURRENCY.

AkS " a NkS SUI d W N n EMU H.
President Cleveland Gives an EN-
phalic Statement on the Financial
Question-Opposed to the Free and
Unlimited Coinage OF silver by This
Country Alone and Independently-
Aston1shed at the Opposite d to the
Repeal of the Sherman Law in the
Senate.
ATLANTA, Ga, Sept 27-The Constitu-
ton tomorrow will print the following
letter from President Cleveland to Gov
ernor Northen in reply to enc written by
EXECUTIVE MANSION,
WASHINGTON, Sept. 81 {
Hon. w. J. Northern:
My dear sir-I hardly know how 20 re-
ply to your letter of the 18th instant. 1t
seems to me that am quite plainly on
record concerning the financial question.
My letter accepting the nomination to the
presidency, when read in connection with
the message lately sent to the congress in
extraordinary session, appears TO me to be
very explicit. want currency that ia
stable and safe In the hands of our peo-
pie.
I will not knowingly be implicated In a
least degree answerable to any labcrer or
farmer In the United States for shrinkage
in the purchasing power of the dollar he
has reoeived for full dollars worth of
work, or for good dollars worth of pro-
duct of his toll. I not only want our cur
rency to be of such a character that all
kinds of dollars will be of equal pur-
chasing power at home, but want 1t
to be of such a character es will
demonstrate abroad our wisdom aud good
faith, thus placing us upon firm founda-
ton and credit among the nations of the
earth I wsnt our financial conditions
and the laws relating to our currency safe
and reassurirg SO that those who have
and new enterprises instead of boarding it.
You cannot cnre fright by calling It foolish
and until reasonable you cannot prevent
the frightened man from boarding his
money.
want good, sound ard stable money
and condition of confidence that will be
kept in use. Within the limits of what I
have written, am friend of silver, but
I believe it's proper place in our currency
can only be fixed by read justment of our
currency legislation and the Inauguration
of consistent and comprehensive fnan-
cisl scheme I think such thing can
only be entered upon pro6tably and hope
fully after he repeal of the law whish is
charged with all our financial woes.
In the present state of the public mind
this law cannot be- built upon nor patched
in such way as to relieve the si.ustion.
I am therefore opposed to the free and uu-
limited coinage Of silver by this country
alone and independently. I am in favor Of
the immediate and unconditional repeal of
the purchasing olsuae of the so called Sher-
man law. I confess I am astonished by
the opposition In the senate to snch action
as would relieve the present unfortunate
situation.
Ny daily prayer Is that the delay caused
by such opposition may not be the cause of
plunging the country into deeper depres-
sion. and that the democratic party may
not be held justly responsible for such a
catastrophe. Yours very truly,
GROVER CLEVELAND.