The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1893-08-17

the Government to maintain a gold
standard in the face of a yearly
purchase of 54,ooo,ooo ounces Of
silver and an issue Of coin certificates
worth something over Soc, on the
dollar, and these certificates payable
in gold, and which in the end must
drain the Treasury of every dollar of
gold it possesses, besides draining the
country of its gold supply. The
message can but create a profound
impression not only in this country,
but in all other countries of the world.
1t is plea for sound, logical, common
sense finance, upon which the credit
of the country is based, a plea Tor the
overthrow of the mischievous doctrine
that alone the United States is strong
enough against all the other civilized
countries of the world to make a silver
dollar worth Soc, equal to a gold
dollar. The endeavor is a task too
great for this country, and to attempt
it is but to play losing game at the
cost Of every other interest for the
sake of enriching few silver mine
owners of the West. Montgomery
Adve,Hser.
As was to be expected the President
but voices the " demand Of the great
majority of the American people, and
of the Democratic party-as repre-
sented at Chicago, for the prompt
repeal of the provisions of the act of
July IA, 1890, known as the Sherman
law, authorizing the purchase of silver
bullion, and for such other legislative
action as shall put beyond all doubt
the intention and the ability OF the
government to fulfill its pecuniary
obligations in money universally rec
ognized by all civilized countries" If
less sententious and epigrammatic than
some of the Presidents previous
utterances upon public questions, these
closing words and final recommends
tions of the message justly summarize
the entire philosophy of the present
financial situation. The repeal of the
Sherman act is imperatively demanded
by the country, as it was specifically
promised by the Democratic party.
In the Chicago platform, the act is
" denounced in the strongest terms,
and its author and supporters appealed
to, for very shame's sake to unite in
the movement for its repeal.-Balti-
more Sun.
The President places the chief re-
sponsibility for the financial troubles
just where the business men of all
parties have fixed it-upon the Sher-
man law. He states with admirable
clearness the reason why this law has
operated TO create distrust at home
and abroad. His conclusions are
irresistible to all open and candid
minds. His recommendation for the
prompt repeal of the Silver-Purchase
law is but an echo of the public
sentiment which constrained him to
call Congress together at this time.-
New York WoyM.
Congress, has done just what the
majority of people thought he would
do. That his message will prove a
powerful factor in the restoration OF
confidence, can not be doubted. Mr..
Cleveland is sound money man and
his views upon that question are in
perfect harmony with those of the
ablest fnanciers OF the country. With
a strong man at the head OF the
Government, with millions Of golc
pouring into the country, with con
stantly increasing reserve fund and
with prices in the great money centres
showing an upward tendency, there
seems to be no good reason why dul
times should not be given black eye
Newport News Sun.