The state republican. (Jefferson City, Mo.) 1871-1896, 1895-12-26
NATIONAL FINANCES.

The pre- ident sent the following
message to congress on December
20, and 1t was read at once in the
sena Q, which was the only branch
In session at tie time:
To the Congress: In my last
annual message the evils of our
present financial system were
pointed out and the causes and
means of the depletion of govern
ment gold were exp aimed.
1t was therein stated that after
all the efforts that had been made
by the executive branch Of the gov
erument to protect our gold reserve
by the issuance of bonds amounting
to more than 162 million dollars
such reserve then amounted to but
l;tti~ --~a.e AI.~-A m lii ---- a ~ -
that about 16 million dollars hat
been withdrawn from such reserve
during the month next previous te
the date of that message, and quite
large Withdrawals for shipment il
the immediate future were predicted
The emergency then feared which
would be caused by the Withdrawal
of gold by the commotion referred
to and others that appear to be evi.
table, threaten such depletion tc
our government gold reserve az
brings us face toface with the neces-
sity of further action for it's protec.
ton. This condition is in, ensified
by the prevalence in certain quar-
ters of sudden and unusual appre-
hension and timidity in business cir
cles.
We are In the midst of another
season of perplexity, caused by ouI
dangerous and fatuous financial op-
erations. These may be expected to
recur with certainty as long as there
Is no amendment to our financial
system. II in this particular in
stance our predicament is at all in
huenced by recent insistence upon
the position we should occupy in our
relations to certa questions con
corning our foreign policy, this fur
nishes a signal and impressive warn
ing that even the patriotic sentiment
of our people is not an adequate
substitute for a sound financial poll
icy.
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 sat SIZED
with less than an honest payment Of
our public obligations in the recog-
nized money OF the world. We
should moi uveriook the tact, how
ever, that aroused fear is unreason-
ing and must be taken into account
in all efforts to avert public loss and
the sacrifice of our peoples interest.
The real and sensible cure for our
recurring troubles can only be ef-
fected by 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 maintain before
the world American credit; nor will
there be any hesitation in exhibiting
its confidence 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 earn
est hope that the congress, in de-
fault of the Inauguration of better
system of finance, will not take a
recess from its labors before it has
by legislative enactment or declara-
tion, done something, not only to
remind those apprehensive among
our people that the resources of this
government and q scrupulous regard
for honest dealing, affords sure guar
antee of unquestioned safety and
soundness. but to reassure the world
that with these factors and the pat
riotism of our citizens, the ability
and determination Of our nation to
meet in any circumstances every
obligation it 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 time
of fear and apprehension, any sacri-
fee of the peoples interest and the
public funds or impairment of our
public credit in an effort by the exc
cutive action to relieve the dangers
of the present contingency,
GROVER CLEVELAND.
Executive Mansion, Dec. 20, 1895.
After the message was read the
senate adjourned till Saturday.
In executive session a resolution
to adjourn till January 6 was
adopted, but this action pre-
ceeded, but this action preceded
the receipt of the presidents mes
sage.