The Coconino weekly sun., 1895-12-26
NATIONAL FINANCES.
Another Special Message from the
President.
He Calls the Attention Of Congress to the
Condition of tho Treasury - An
Amendment to Our Financial
System Needed.

WASHINGTON, Dec. 21.-At 4:4O o clock
yesterday afternoon the president sent
the following message to congress-:
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 issu-
ance of bonds amounting to moro
than $162, 900, 900, such reserve then
amounted to but little more than &c.
600, 900, that about SIG, OOO, 900 had been
withdrawn from such reserve dur
ing the month next previous to
the date of that message, and quite
large Withdrawals for shipment in the
immediate future were predicted. The
contingency then feared has reached
us, and the withdrawal of gold since
the communication referred to
and others that appear inevitable,
threaten such a depletion in our
government gold reserve as brings us
face to face with the necessity of fur
Their action for it's protection. This
condition is intensified by the preva-
lence in certain quarters of sudden and
unusual apprehension and timidity in
business circles.
We are in the midst Of another sea-
son of perplexity, caused by our dam
gerous and fatuous financial opera
tions. These may be expected to recur
with certainty as long as there is no
amendment in our financial system. II
in this particular instance our predica-
ment is at all influenced by recent
insistence upon the position we should
occupy in our relation TO certain ques.
tions concerning our foreign policy,
this furnishes signal and impressive
warning that even the patriotic senti-
ment of our people is not an adequate
substitute for a sound financial policy.
Of course there can be no doubt in
any thoughtful mind as to the COM
plete solvency of our nation, nor can
there be any just apprehension that
the American people will be satisfied
with less than an honest payment Of
our public obligations in the recog-
nized 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 our
recurring troubles can only DO effect
ed by complete change in our finan-
cial scheme. Pending that the execu-
tive branch of the government will
not relax its efforts nor aban-
don its determination to use
every means within its reach
to maintain before the world
American credit; nor will there be
any hesitation in exhibiting it's con-
fidence in the resources of our country
and the constant patriotism of our
people.
In view, however, Of the peculiar
situation now confronting us, have
ventured to herein express the earnest
the Inauguration of a better system Of
finance. will not take recess frsm it's
labors before it has by legislative en-
actment or declaration, done some
thing, not only to remind those appre-
hensive among our people that tho
resources OF this government and a
scrupulous regard for honest dealing,
affords sure guarantee Of unquestioned
safety and soundness, but to reassure
the world that with these factors and
the patriotism of our citizens, the abil-
ity and determination Of our nation to
meet in any circumstances every obi.
cation it incurs do not admit of ques.
ton.
ask at the hands of congress such
prompt aid as it alone has the power,
to give to prevent, in time of fear
and apprehension, any sacrifice of the
peoples interest and the public funds
or impairment of our public credit in
an effort by the executive action to re-
lieve the dangers of the present con-
tingency GROVER CLEVELAND.
Executive Mansion, Dec. 20, 1895.