The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-12-20
In Bad Way Financially and
Something Must be Done.
NEED LEGISLATION
That Will Protect Our Gold
Reserve and Credit.
Of Course We're Solvent but
We've Been Foolish.
Legislation Asked For Before
the Holiday Vacation.

WASHINGTON, Dec 20.-The following
message was cent 10 congress by Presi-
dent Cleveland at o'clock this after
noon:
To CoNGREss:-In my last annual mes
sage the evils of our present financial sys-
tenn 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 execu-
tive branch of the government to pro-
tect our gold reserve, by the issuance of
bonds, amounting to more than S162,-
100000, such reserve then amo united
to but little more than 10000
600, that about $16.OO0.000 had
been withdrawn from such
reserve during tho month next previous
to the date of that message and quite
largo 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 govern
ment gold reserve as brings US face to
face with the necessity of further action
for its protection. This condition is IL
tensitied by the prevalence in certain
quarters of sudden and unusual appre-
hension and timidity in business circles.
We are in the midst of another season
of perplexity caused by our dangerous
and fatuous financial operations. These
may be expected to recur with certainly
as long as there is no amendment in our
financial system. If in this par
ticular instance our predicament is
at all influenced by a recent
insistence upon the posltlon
we should occupy ir our relation to GER
tain questions concerning our foreign
policy, this furnishes a signal and I'M
pressive warning that even the patriotic
sentiment of our people is not an ade-
quste substitute for a sound financial
policy.
OF course there can be no doubt i'll any
thoughtful mind as to the compiete
solvency of our nation, OF can there be
any just sppre hension that the American
people will be satisfied with less tnen
an honest payment of our public obliga-
tions in the recognized money of the
world. We should not overlook the facs
however, that aroused fear is unreason-
ing and must be taken into account in all
efforts to avert public loss and the sacri-
ice of our peoples interests.
The real and sensible cure for our re-
| curing troubles can only be effected by
complete change in our financial
scheme. Pending that, the execn-
will not relax its effort,
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 re-
sources of our country and the constant
| patriotism OF our people.
| e. r. 81
peculiar situation now confronting US 1
have ventured to herein express the
earnest hope that the congress in default
of the Inauguration of a better system of
| finance, will not take a recess from its
| labors before it has by leg
islative enactment, or declaration.
done something, not only to remind those
apprehensive among our people that the
resources of this government, and a
scrupulous regard for honest deal
| ing, afford sure guarantee OF
unquestioned safety and soundness,
but to reassure the world that
with these factors and the patriotism of
our citizens, the ability and determina-
ton of our nation to meet in any circum-
stances, every obligation it incors, do not
admit of question.
ask at the hands of the congress
such prompt aid as it alone has the pow
er 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 the execu-
tive action to relieve the dangers of the
present contingency.
GROVER CLEVELAND.
Executive Mansion, Dec. 20, 1895.
After The message was read, the SEN
ate adjourned till tomorrow.
la executive session a resolution to ad-
journ tomorrow till January 6 was pass
ed, but this action preceded the presi-