The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1894-08-11

what Eject Cieveiand's Veto Has Had
Upon the Country.


On March 20, 1894, President Cleve-
land returned this bill to the house OF
representatives, with his reason for veto
ing IT, In his message. he says:
The financial disturbance which swept over
the country during the past year was unpdrni-
feisd In its severity and disastrous conso-
quences. There seemed to be almost an entire
displacement OF faith In our financial ability
and loss OF confidence In our fiscal policy.
Among those who attempted 10 assign causes
for our distress Il was very generally conceded
that the operation OF provision OF lac then
In force which required the government 20 pur-
chase monthly large amount OF silrer bullion
and issue it's notes In payment therefor. Was
sfAer safirely, or 10 a large srteHf responsible
for our condition. This led 70 the repeal. on
the FIRST day OF November 1893. OF this statute
~ provision"
There is no doubt of the severity
OF the financial disturbance. We are
all we'll posted on this topic, most OF
us by bitter experience Was IL caused
by the Sherman law7 Let us see.
This bad" law was repealed last No
vember. Has there been any improve
ment up TO the present date? Is II
not true that the situation has grown
more and more acute all through the
winter, and that IL continues undated
up to date? We have stepped out from
under the "baleful influence" OF the
Sherman law, but we are still In the
shadow of the impending Wilson bill.
There is no hope for many industries;
others will only exist because OF a
democratic pull 70 cause notifications
in the senate. There can be no inn
provement except In the increase Of
financial funerals. But he says:
sour recovery has. nererthsisss, steadily pro-
crossed. and though less than Ave months have
elapsed since the repeal OF the mischievous
silver purchase requirement., d Wholesale inn
provcment IS Enthusiastically apparent. Conf
dence In our absolute solvency Is TO such an
extent reinstated and faith In our disposition
20 adhere TO sound financial methods is NO far
restored as to produce the most encouraging
results both at home and abroad The wheels
OF domestic industry have been slowly set In
motion and the tide OF foreign Investment has
again started in our direction"
IL must be n close observer who has
seen any Improvement, whether whole
sale or retail. Some houses and indus
tries have not gone To the wall In this
later period, but IL was because they
had already got there. They could not
iaii VI NlOoe up bWlSts Oice WIS iullo
sufficient.
He says the wheels of domestic" In
dustry have been slowly set in motion
So slowly indeed, that q movement Is
not visible 20 the naked eye--to an eye
unaided by the faith OF Grover Cleve-
land. Foreign investors have, indeed,
purchased, but only OF the new issue
OF bonds We are fools enough to is
sue them and they will buy, even IL
they do not do il directly.
lie says: "0ur recovery being so well
under way, nothing should be done To
check our convalescence." These
words are cheering and indeed consol-
atory TO the corpses. They seem TO re-
bulse them for dying, even after all
the breath has been kicked out OF
them. They are informed that they
should have died from the sherman
bill; and that, having once expired
from that cause, they should have
promptly come to life last Novem-
Der on its repeal and now be in a
state OF exuberant health.
What President Cleveland needs is a
commission TO advise expiring indus
tries as TO the particular disease OF
which they should die, and positively
prohibit, even IL necessary by vetoes,
any such from dying except from off,
! cial and approved causes