New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-21
APPEALING TO CONGRESS.
THE PRESIDENT ASKS FOR LEGISLATION
BEFORE THE RECESS.

IN A TIME OF FEAR AND APPREHENSION HE
| SAYS. HE ASKS SUCH PROMPT AID AS con-
GREss ALONE HAS THE POWER TO GIVE
TO PREVENT ANY SACRIFICE OF THE
PEOPLES INTERESTS OR IMPAIR
MENT OF THE PUBLIC CREDIT.
Washington, Dec. 20.-The President this az
ternoon sent the following important message
to Congress on the financial situation:
TO the Congress.
In my last annual message the evils OF our
present financial system were plainly pointed
out and the causes and means of the depletion
of Government gold were explained. 1t was
therein stated that, after all the efforts that
had been made by the Executive branch OF the
Government to protect our gold reserve by the
ssuapce Of bonds amounting to more than
sl62, 900, such reserve then amounted to but
little more than s790OO.000: that about sl5,oooooV
had been withdrawn from such reserve during
the month rext previous to the date or that
message and that quite large Withdrawals for
shipment in the immediate future were pre-
dicted.
The contingency then feared has reached u.s.
and the Withdrawals Of gold since the COM
munication referred to, and others that appear
inevitable threaten such a depletion in our Gov
eminent gold reserve as brings us lace 10 lave
with the necessity of further action for its pro-
lection. This condition is intensified by the
prevalence in certain quarters of sudden and
unusual apprehension and timidity In business
circles.
IN A SEASON OF PERPLEXITY.
We are in the midst OF another season OF per-
plexity caused by dan. erous and fatuous
financial operations. These may be expected to
yx,itb ipt1 n q G amend
ment In our financial system If In this partic-
ular instance our predicament is at all Influenced
by a recent insistance upon the position we should
occupy In our relation to certain questions con-
cerning our foreign policy. this furnishes signal
and impressive warning that even the patriotic
sentiment Of our people Is not an adequate SUBJ
stitute for sound financial policy.
OF course there can be no doubt In any
thoughtful mind as to the complete solvency
OF our Nation, nor can there be any just appre-
hension that the American people Will be salts
fed with less than an honest payment Of our pub
lie obligations in tie recognized money OF the
world. We should not overlook the fact however.
that aroused fear is unreasoning. and must be
taken into account in all efforts TO avert public
loss and the sacrifice of our peoples interests.
The real and sensible cure for recurring
troubles can only be effected by a complete
change in our financial scheme. Pending that,
the Executive branch Of the Government will not
relax its efforts nor abandon its determination
TO use every means within its reach to main
tain before the world American credit, nor will
there be any hesitation in exhibiting its conf
dence in the resources OF our country and the
constant patriotism of our people.
TO RESTORE CONFIDENCE.
In Wow, however. of the peculiar situation
now confronting u.s. I have ventured to herein
express the earnest hope tina. the Congress, in
default of the Inauguration of a better system
Of finance will not take a recess from its labors
before Il has by legislative enactment or dec
laration. done something not only to remind
those apprehensive among cur people that the
resources of this Government and scrupulous
regard for honest dealing afford a sure guar
antee of unquestioned safety and soundness, but
TO reassure the world that with these factors
and the patriotism OF our citizens the ability
and determination of our Nation to meet In
any circumstances every obligation 1t incurs
do not admit Of question.
ask at the hands OF the Congress such
prompt aid as it alone has the power to give
to prevent in a time of fear and apprehension,
any sacrifice of the peoples interests and the
public funds or the impairment Of our public
credit in an effort by Executive action to relieve
the dangers of the present emergency
GROVER CLEVELAND.
Executive Mansion, Dec 20, 1898.