The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-21
THE PRESIDENTS MESSAGE.

Il
One Presidential message treads on
another's heels, so fast they follow. On
the I'd of this month the President sent
his annual message to Congress; only
four days ago he sent his special mes
sage to Congress on the Venezuela
boundary dispute, and yesterday he
sent another special message which in
some measure may be said to follow as
a consequence of the one on Venezu-
Ella affairs. The amount of gold with
drawn from the treasury since that
message has doubtless been augmented
by the prospects of war with England.
That prospect is admitted on both
sides to be very remote, but so peculiar
ly sensitive are our national financial
affairs that they are liable to be
| thrown into a panicy condition by even
less trifiing circumstances than the
Venezuela embodiment.
The President calls attention to the
fact that although the executive branch
of the government had sought to pro-
tect the gold reserve by the issuance
of bonds to the amount of $4,000, 600,
yet when his annual message was sent
to Congress there was but $79,000,O0O in
the reserve fund; that about S16,0OO.0O0
had been withdrawn from said reserve
during the month next preceding the
date of his annual message. He calls
attention to the fear he then expressed
that there would be more large with
drawals in the immediate future for
shipment abroad, and informs Congress
that what he then feared as a contln-
gency has been realized-heavy with
drawals within the past few days have
taken place. Other Withdrawals. he
declares. appear inevitable in conse-
uuence of the prevalence in certain
quarters of sudden and unusual ap-
prehension and timidity in business cir
cles; and they threaten such depletion
in the government gold reserve as to
bring the government face to face with
the necessity for further action for its
protection.
The further action for the protection
of the gold reserve of course means. in
the mind of President Cleveland. the
issuance of bonds on the lines laid
down in his message and the report of
Secretary Carlisle. The whole of this
last message in its argument points to
the adoption of that policy. DOUBTLESS
the present disturbed condition in re-
spect to our national finances justifies
the Presidents message and his urgent
request that Congress shall not adj
journ for the holidays until something
has been done to quiet the disturbed
feelings of the people. We hope that
President Cleveland is sincere and pa
triotic in his recommendations to Con-
gress, and we believe he is, however
mistaken he may be in the policy he
would adopt to cure the government S
financial ailments. We hope he is not
taking any undue advantage OF the
circumstances which have lately arisen
to force upon Congress the adoption OF
the policy which his administration has
so frequently urged. 'The real and
sensible cure for our recurring troubles
can only be effected by a complete
change in our financial scheme" says
the message. So say we all, but not
on the lines of the Presidents recon-
mendations. If the President is taking
advantage of the circumstances which
have arisen of late to urge the adop-
ton of his policy upon Congress. it is
to be hoped that the friends Of silver
will not be blind to the occasion that
the same circumstances afford them
to urge the necessity and reasonable
ness of making the complete change
in our financial scheme" consist in the
adoption of the policy of bimetallism-
the free and unlimited coinage of sill
yer at the present legal ratio.