River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1894-08-23
The sEIeNloRAeE ALL
What Eject Cleveland's Veto Has Had
Upon the Country.


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 HnpdraI-
leied in its severity and disastrous conse-
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 to assign causes
for our distress 1t was very generaiiy conceded
that the operation OF a provision Of tdw then
In force which required the government 10 pur-
chase monthly large amount OF sitter bullion
and issue its notes In payment therefor, snds
either entirely, or 10 large erteat responsible
for our condition. This led TO the repeal on
the first day of November, 1888, of this statute
ny provision
There is no doubt of the severity
of the financial disturbance We are
nll well posted on this topic, most of
us by bitter experience. Was it caused
by the Sherman law? Let us see.
This bad" law was repealed last No
vember. Has there been any improve
ment up to the present date? Is it
not true that the situation has grown
more and more acute all through the
winter, and that it continues una bated
up to date? We have stel ped out from
under the "baleful infiLence 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 to cause notifications
in the senate. There can be no i'm
provement except in the increase of
financial funerals. But he says:
"our recovery has. neuerthetss, steadily pro-
crossed. and though less than five months have
elapsed since the repeal OF the mischievous
silver purchase requirement, wholesale i'm
provement is Enthusiastically apparent. Conf
dence in our absolute solvency is to such an
extent reinstated and faith In our disposition
to adhere to sound financial methods IS so 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 Erection"
1t must be 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 it was because they
had dire0dy got there. They could not
fail or close up twice. Once was quite
sufficient.
He says the wheels of domestic" in
dustry have been slowly set in motion.
So slowly indeed, that "a movement is
not visible to the naked evc-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 if
they do not do it directly.
lie says: "Our recovery being so well
under way, nothing should be done to
check our couvalescence." These
words are cheering and indeed eonsol-
atory To the corpses They seem to re-
buke 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 if necessary by vetoes,
any such from dying except fro IN Off
cial and pproved causes.