Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1893-10-06
CLEVELAuD'S
'''' = POSITION
On the Financial Question
Clearly Set Forth.
OPPOSED TO FREE COINAGE.
Is a Friend of Silver But Re-ao-
Justment of the Currency Is Nsc-
essary-A Sound and Staple
Dollar-FaVors lmme-
diate Repeal.

e3Sary-A SOunQ ANA Ottpio
Dollar lmme-
diate Repeal.
The Atlanta Constitution printed the fol-
lowing letter from President Cleveland 70
Governor Northen, in which the President
states his position on the financial question
at some length.
The letter is in reply TO one written by
Governor Northen on the 18th instant.
The Governor refuses to give hi5 letter
cut for publication, but it is known tnat No
presented graphic condition OF the politlcal
situation in Georgia and the South, and
urged upon the President the expediency OF
n public utterance from him, more compre-
h nsiye than his recent message, as to the
proper policy to be pursued by Congress
upon questions affecting the stringency OF
the times AMI the needs of the people
its understood In his letter Governor
Northen pointed out inroads being made IN
tho democratic party by the Populists by
70 son of the neglect or delay on the part OF
the Democratic majority in Congress to meet
T
an pledges. He dwelt especially upon the
0nancial condition and political unrest OF
she farmers OF the South, who constitute 80
great propo tlon Of the Democracy.
The Presidents reply to that letter was as
follows.
THE PRESIDENTS LETTER:
Executive MANSION, Washington, D. c.
Hon. J. w. Northen-My Dear Sir l hardly
know how to reply to your letter OF the 18th
inst. 1t seems to me am quite plainly on
record concerning the financial question.
/ Ny letter accepting the nomination to the
Presidency, when read In connection with
the message lately sent to Congress in ex-
traorduary session, appears to me very ex-
plicit. wantsa currency that is stable and
safe in the hands of our people. will not
knowingly be implicated in condition that
will Justly make me in the least degree an
swerable to any laborer or farmer in tho
United States for shrinkage in the pur-
chasing power of the dollar he has received
for full dollars worth OF the product OF his
toll. not only want our currency to DO OF
such character that all kinds oil dollars
will be of equal purchasing power at home,
but want il to be OF euch character as
will demonstrate abroad our wisdom and
good faith, thus placing US upon firm
foundation and credit among the nations o.
the earth. l want our financial conditions
and the laws relating to our currency sale
and reassuring that those who have money
will spend and invest it in business and new
enterprises instead of boarding it. You can
not cure fright by calling it foolish and un
reasonable, and you cannot prevent the
frightened man from boarding his money.
want good. sound and stable money, and
condition OF confidence that will keep it in
use.
Within the limit Of what have written l
am friend OF silver, but believe its proper
place in our currency can only be fixed by
readjustment OF our currency legislation and
the inauguration of consistent and COM
prehensive financial scheme l think such
thing can only be entered upon prohtably
and hopefully after the repeal OF the law
which is charged with all our financial woes.
In the present state OF the public mind
this law cannot be built upon or patched in
such way as 10 relieve the situation.
am, therefore, opposed to the free and
unlimited coinage Of silver by this country
alone and independently, and am in favor
of the immediate and unconditional repeal
OF the purchasing clause Of the so-called
Sherman law.
confess am astonishsd by the opposi-
ton in the Senate to such prompt action as
would relieve the present unfortunate stu
alton.
My daily prayer is that the delay occa-
stoned by such opposition may not be the
cause OF plunglng the country into deeper
depression than it has yet known, and that
the Democratic party may not be justly held
responsible for such catastrophe.
Yours very truly,
GROVER CLEVELAND.