The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1894-04-07
VETOED.
President Cleveland Stands
BY His Record

And Stamps the Bland Bill Witha Veto.
President Cleveland stands tirmly
to his former position on the silver
question. He has vetoed the Bland
bill. 1t would have been the height
OF Inconsistency if he had not. His
refusal to sign it was a case of where
the expected happened.
Mr.. Cleveland's message vetoing
the measure is quite lengthy. The
opening paragraphs, which give his
reasons without referring to former
silver legislation, are as follows;
/ return without my approval
house bill No. 1896 entitled Gan act
directing the coinage of the silver
bullion held in the treasury and for
other purposes"
My strong desire to avoid disa
greement with those in both houses
of congress who have supported this
bill, would lead me to approve of it.
if l could believe that the public
God would not be endangered and
that such action on my part would
be proper discharge of official du
W. lnasmucb, however, as am IN
able to believe that the proposed
legislation is either wise or oppnr
tune, my conception of the obliga-
lions and responsibilities attached
10 the great office | hold forbids the
Indulgence of my personal desire,
and inexorably confines me to that
course which is dictated by ny rea
son and Judgment. and pointed out
by sincere purpose to protect and
promote the general interests of our
people The financial disturbances
which swept over the country dur
ing the last year were unparalleled
in severity and disastrous conse-
quences.
There seemed to be almost an en-
tire displacement of faith in our
financial ability and loss of conf
dence in our fiscal policy. Among
those who attempted to assign
causes for our distress it was very
generally conceded that the opera
tion of provision of law then in
force which required the government
to purchase monthly large amount
of silver bullion and issue its notes
in payment therefor was either en-
tirelY, or to Large extent, response
Bile for our condition. This led to
the repeal on the first day of Novem-
Der, 1898, of this statutory provision.
We had, however, fallen so low in
the depths of depression and timidi-
ty and apprehension had SO com
pletely gained control in financial
circles that our rapid recuperation
could not be reasonably expected.
Our recovery has, nevertheless.
steadily progressed and though less
than five months have elapsed since
the repeal of the mischievous silver
purchase requirement, wholesome
Improvement is Enthusiastically ap.
parent. Confidence ia our absolute
solvency is to such an extent rein
stated 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
direction.
Our recovery being so well under
way, nothing should be done to
check our convalescence nor should
we forget that a relapse at this time
would almost surely reduce as to a
lower stage of financial distress than
that from which we are just emerg
ing.
l believe that il the bill under
consideration should become law,
it would be declared as retrogres-
sion from the financial intentions
indicated by our recent repeal of the
provision Of the silver bullion pur-
chase that would weaken if it did not
destroy returning faith and conf
dence in our sound financial tenden-
cles, and that as a consequence our
progress to renewed business health
would be unfortunately checked and
return to our recent dist ressing
plight seriously threatened.