San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1895-01-28
GROVER ON FINANCE.

SnON6 EN- " ~ e. N0NSA'
He Prorouges Congress on the
Policy of Depicting the
Treasury.
The following is a partial report
of the presidents message, up to
the hour of the LIGHT going to
press. II ED.
WASHINGTON, Jan. 2S.-The
president today sent to Congress
the following special message on
the financial question!
To the Senate and House OF Repre-
sentatives;
In my last annual message l
commended to your consideration
the condition Of our national
finances and in connection with
the subject Endorsed plan OF cur
rency legislation which at that
time seemed to furnish protection
against impending danger. This
plan has not been approved by Con-
gress. In the meantime the situa-
ton is so changed and the emer-
gency now appears so threatening
l deem it my duty to ask at the
hands of the legislative branch OF
the government such prompt and
effective action as will restore con-
fidence in our financial soundness
and avert business disaster and
the universal distress among our
people. Whatever may be the
merits Of the plan outlined In my
annual message as remedy for the
ills that are existing and as safe
guard against the depletion OF the
gold reserve then in the treasury,
it has convinced me in its recep-
ton by Congress and our present
advanced stage Of financial per-
plexity, necessitates additional or
different legislation. With our
natural resources unlimited in
variety and productive strength,
and with a people whose activity
and enterprise seeks only fair OPP
portunity to achieve national sue
cess and greatness, our progress
sh ould not be checked by false
financial policy and needless dis
regard of sound monetary laws,
nor should timidity and fear, which
they engender, stand in the way OF
our prosperity. 1t is hardly dis
puted that this predicament con-
fronts us today. Therefore, no one
in any degree responsible for the
making or execution Of our laws
should fail to see a patriotic duty
in honestly aid sincerely attempt
ing to relieve the situation. Mani
testify this effort will not succeed
unless it is made untrammeled by
prejudice or partizanship and with
steadfast determination to
resist temptation to accomplish
party advantage. We may
we'll remember If we are
affected with financial difficulties
that all our people in all stations
of life are concerned and surely
those who suffer will not receive
the promotion Of party interests as
an excuse for permitting our pres
emit troubles to advance to dis
astrous conclusion. 1t is also OF ut
most Importance that we approach
the study Of the problems present
ed, as free as possible from the
tyranny Of preconceived opinions
to and that in common danger we
may be able to seek with uncloud-
ed vision, a safe and reasonable
protection. The real trouble
which confronts us consists in
lack OF confidence, wide
spread and constantly increasing,
in the continuing ability or dispo-
sition of the government to pay its
obligations in gold. This lack OF
confidence grows to some extent
out of the palpable and apparent
embarrassment attending the eff
forts Of the government, un-
der existing laws, to procure
gold, and to a greater ex-
tent out of the impossibillty
of either keeping it in the treasury
or cancelling obligations by it's ex-
penditure after it is obtained. The
only way left open to the govern
ment for procuring gold is by the
issue and sale OF bonds. The only
bonds that can be issued were au-
thorized nearly twenty-five years
ago aud not we'll calculated to
meet our present needs. Among
other disadvantages they are
made payable in coin instead
specifically in gold, which in ex-
listing conditions, detracts largely
and in an increasing ratio from
their desirability as invest
ments. 1t is by no means GER.
tain that bonds of this de-
scription can much longer be dis.