Evening journal., 1895-02-18
obeying the Law.

Obeying the Law.
Those who are SO ready to blame
President Cleveland for his action In
issuing bonds to protect the gold reserve,
calling him gold bug" etc, forget
that be is simply doing bis duty, as an
honest executive, by obeying the law as
it stands, he Is pursuing a course made
obligatory upon him BY the failure Of
Congress TO pass laws to meet long
anticipated emergency. The laws
authorize the President to proceed in
this way and in no other.
Mr. Cleveland has pointed out to Con-
gress the defects and disadvantages OF
the plan, and urged the representatives Of
the people to institute better legislation.
He has given fair notice Of what must be
done by way Of protecting our National
credit Gold for the Treasury must be
had. There is no way Of getting it
except by borrowing. A loan has be-
come a necessity.
The change Of single word in the
existing law authorizing loan would
save to the people of this country some
SIS, 000, 600 In interest alone. The present
law provides that the bonds shall be
paid in 'coln. 1t is altogether probable
that even then the bonds not only will
be, but from the nature Of the case must
be, paid in gold At their maturity; but
the lenders take advantage Of the doubt
and charge the above-named sum on the
profit side Of their interest account
Aud yet, with such a fact staring us in
the face, Congress has been dumb to all
entreaties 70 act
The situation may be eammed up In a
few words The law requires q certain
amount Of gold to be kept in the Treasury.
That gold can now be obtained only by a
loan. It is the duty Of the administration
70 procure il. The laws authorlzs the
President to issue bonds sufficient to
meet the emergency But those laws
are antiquated and not adapted to the
pseuiarities Of the present situation.
Congress refuses to act in the premises,
and % the President proceeds as best be
can.
The responsibility rests with Congress
and not wish the President II the country
suffers for lack Of proper legislation. Ne
close this article with two quotations
from New York papers, one Republican
and one Democratic.
Says the Tribune: 'sThs behavior o.
Congress has made this loan inevitable,
and the President ia only discharglng his
plain duty in protecting the credit Of the
government and executing the laws as
they now stand Congress might have
made and ought long ago to have made
much wiser laws, but it has psrslatently
refused and cannot find fault with the
President for enforcing the laws as they
stand
The Times states the case In this wise
''Mr. Cleveland has done the right thing
at the hight time aud In the best way
possible. When the present session Of
Congress began he made clear, simpl,
and full statement Of the situation Of
the National fnanees, tie perlls thai
were involved In our actual laws and th,
legislation necessary fairly aud per
manently to avoid then. After NOR,
than half Of the session had been al
lowed 90 slip by, and Congress had don,
worse than nothing, be renewed his efTolti
to make 1t understand what was needle,
aud what would happen II the needle,
thing was not dore. sull Congress
pottered and stumbled, and finally th,
House, which had shown some disposition
to do its duty, broke down and pro
claimed TO the country that nothin,
could be expected at this session
Promptly the next day Mr.. Clevelsn,
anuouncsd the result Of negotiation
which with entire wisdom and the firm
courage Of which be has shown 50 man,
proofs, be had undertaken pending ia
decision of Congress"