Marshall County independent. (Plymouth, Marshall County, Ind.) 1894-1895, 1895-02-01
APPEAL TO CONGRESS-
MESSAGE OF THE PRESIDENT ON
THE FINANCIAL EMERGENCY.
Says mother Bond Issue Is the Only
Way TO Prevent Constant Drain
of GoId-Sccs Very Good Cause for
Alarm.


The President on Monday sent To both
houses of Congress n message on the
financial situation. substantially with
draw ing his support from the plan out
lined in the Carlisle bill and outlining the
only policy which seems To him now pos
sible d maintain the gold reserve. The
message is rs follows:
To tie Senate and House of Repre-
scntalives: In my last annual message |
commended To the serious consideration
OF the Congress the condition Of our ma
tionll tinauceS. and in connection with
the subject. indoTsed tie plan of currency
legislation which At that time seemed to
furnish protection against impending dan
ger. This plan has not been approved by
the Congress In the meantime the situa-
ton has - changed and the emergency
now appears 50 threatening that ! deem
il my duty To ask ri the hands of the leg
islativc branch of the government slch
prompt and eff, Give action as Will restore
confidence in our financial soundness and
avert business disaster and universal dis
tress among our people.
''Whatevcr may BE the merits of the
plan outlined in my annual message as 4
remedy for ills then existing. and rs a
5; fegaard against the depletion IF the
gold reserve then in the treasury. ] am
no ~ Convinced that Is reception hy the
Congress and our present advanced stage
of financial perplcXity necessita,es addi-
tioEll or different legislation.
Party 10 BE Laid Aside.
with natural resources unlimited in
variety and productive strength ana with
q people whose activiiy and enterprise
sec! only a fair opportunity to achieve
national success and greatness. our prog
rcss should not be checked by Il false
financial policy and Needless disregard
of sound monetary laws. nor should the
timidity and fear which they engendcr
stand in the way of or prosperity.
1T is hardly disputed that this predica-
mcnt confronts lis today. Therefore no
one in any degree responsible for the max
ing ana execution of our laws should fail
to see patriotic duty in honestly and sin
cerely attempting to relieve the situation.
Manifestiy. this effort VIII not succeed UNI
less it is made untrlmmcled by the rreju-
dice of craftsmanship and with stcadfast
determination to resist the temptation To
accomplish party advantages. We may
well remember that il we are threatened
with financial difficulties all our people in
every station Of life are concerned. and
surely those who suffer will not receive
the promotion of party interests as an eX
cuse fer permitting our present troubles
to advance 10 Il disastrous conclusion. 1t
is also of the utmost Importance that we
approach the study OF the problems pre-
scented as free rs possible from the tyran
ny ofs preconccived opinions, to the end
that in common danger we may be able
to seek with Enclosed vision safe and
reasonable protection.
Distrust a Great Trouble.
"The real trouble which confronts us
consists in Il lack Of confidence, wide
spread and constantly increasing, in the
continuing ability or disposition of the
Government To pay its obligations in
gold. This hack of confidence grows TO
some extent ont OF the palpable and APP
parent embarrassment attending the eff
forts Of the Government under existing
laws to procure gold. and TO Il greater eX-
tent out of the impossibility of either
keeping it in the treasury or canceling
obi! cations by its expenditure after it is
obtained.
The only way left open to the Govern
ment for procuring gold is by the issue
and sale of its bonds The only bonds
that can be so issued Tcre authorized
nearl., twenty-five years ago and are not
well calculated to meet our present needs
Among other disadvantages they are
made payable in coin instead of specifi
cally in gold which, -in existing condi
tisns, detracts largely and in an increas
Ing ratio from their desirability as invest
ments. 1t is 10y no means certain that
bonds of this description can much longer
be disposed of at price creditablc To the
financial character of our Government.
The most dangerous and irritating
feature OF the situation, however. re-
mains to be mentioned. 1t is found IN
the means by which the treasury is de-
spoiled of the gold thus obtained without
canoeing a single Government obliga-
ton, and solely for the benefit of those
who find profit in shipping it abroad. or
whose fears induce them 10 hoard it at
home.
The Stubborn Facts.
eve have outstanding about SJ00,000-
600 of currency notes of the Government.
for which gold may be demanded; and
curiously enough the law requires that
when presented and an fact redeemed
and paid in gold they shall be rcissued.