Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-08-09
AUGUST Q. 1893.
The Presidents Message.

Tho outline which we gave yesterday OF
The Presidents message was correct as far
rs II went The President said in his call
for tho extra session that but one great
evil threatened this country now-namely,
ats financial condition. In his message be
emphasizes that averment, and orders the
tariff question 10 the rear. He treats the
farIff reformers kindly. however. and says
the tariff must be revised In the near
future. We have SAID more. than once
that IL the President permitted the tariff
question to rank with the currency
question in importance, many members
Of Congress would be only too glad 10 take
up the former and let the latter alone.
Nor docs the President recommend the re-
peal Of the 10 per cent. tax on the notes OF
the State banks. Ho lets expressive
silence " tell what no thinks Of that rota-
bic scheme SO as to paternal govern
ment Instead Of saying that the govern
ment must do nothing but rule be says
tult tho laboring people are entitled to
"the most watchful care of thor govern
mont" and 10 the best and safest cur
Toucy-not "homing currency
The message informs us that the Presi-
don't had intended TO convene Congress IN
September. but had to call it together
sooner to avert danger and mitigate evils.
The alarm Of the depositors in banks Is
mentioned. They are the panic producers,
and If any measure can be discovered on
invented that will render them absolutely
safe we need thereafter fear no more hnau-
cIal panics.
The President docs not spare the SHRR-
HfAS law. but shows 1t up IN n strong light,
though he acknowledges that it was sort
OF COMPROMISE measure. lie writes with
wonderful force on the subject of the
causes which have produced the present
deplorable condition Of things. His mere
statement # proposition is equivalent 10
long and strong argument. In this con-
nection he marshals an array Of figures
that will bs sure TO secure the attention
If the pubic. lie saws foreign countries
were only TOO willing to get the gold
which our financial legislation drove ont
Of this country. He uses the phrase
part company az be used il Ia the first
autl-silvor letter no ever penned. lie
makes a good argument as 10 tho power
Of the Secretary OF the Treasury TO pay
out gold whenever il was demanded un-
der the laws which used the word coin
He makes still stronger argument in favor
OF letting Europe feel the results Of the
present condition of the silver problem
before the international Bimetallic Con-
ference Is reasscmbled or new Conference
is called. By the way, let us say here that
Mr.. ROTHscHLD predicted in the Brussels
conference that unless some action was
taken on the silver question 10y that con-
ference all the monetary evils now atlilct-
ing this country would come upon it.
The President urges Congress TO take
prompt action. He would have the SHER-
MAN law repealed forthwith. He loses
sight. nowhere of the object which he had
IN view when he convened Congress in ex-
ira session. His message is an admirable
document, and il 1t fails to accomplish the
purpose for which it was intended no one
can deny that he did his part Of the
work well. But in estimating the
strength of the Executive a fact must
be taken into consideration which we
have not seen mentioned-namely, that
President serving his second term
has not the influence over congressman
which is possessed by President serving
his first term. Ii gratitude is a keen
sense Of favors to come" the President of
1898 cannot be expected to have the infu-
euce of the President of 1885.
We are glad that the President says
that there is nothing OF party politics IL
this currency question.