The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-01-29
Another Document on the Finance
Situation.
PROMPT ACTION is URGED.
she President Talks Very Plainly ly,
Points Out the Remedy and
Asks for Immediate and
Necessary Legislation
Upon the Subject.
By Southern Associated Press.

PRESIDENT sent to both houses of
Congress to-day message on the
financial situation, substantially
Withdrawing his support from tho
plan outlined i'll the Carlisle bill, and
outlining the only policy which
seems to him now possible to main
tain the gold reserve. The message
vas as follows:
ITO the Senate and House of
Representatives In my last annual
message | commended to the serious
consideration of Congress the con
dltlon OF our national finances, and
IN connection with the subject in.
dorsed plan of currency legisla-
tiop, which, at the time, seemed to
furnish protection against the i'm
pending danger. This plan has not
been approved by Congress. In the
meantime the situation has so
changed and the emergency now
appears SO threatening, that i deem
II my duty to ask at the hands of
the Legislative branch OF the govern
ment such prompt and elective
action as Will restore confidence in
our financial soundness and avert
business disaster and universal dis
1ees huOHS our people.
Whatever may be the merits of
the plan outlined in my annual mes
cage Ms remedy for the ills then
existing and as n safeguard against
'he depletion OF the gold reserve
tnen ia the Treasury. l am now con.
vinced that its reception by the
Congress and other present sd-
~auce9 stage of financial perplexity
pecessitates additional or different
legislation.
with natural resources unlimited
In variety and production, with n
people whose activity and enter.
prise seek only a fair opportunity
TO achieve national success and
greatness, our progress should not
De checked by a Iialse financial
pollcy and heedless disregard of
SOUND monetary laws, nor should
tlmidIty and fear, while they eu
danger, stand in the way OF our
prosperity.
1T is hardly disputed that this
predicament confronts us TO-DAY
therefore, no one i'll any degree re
eponsible for the making and execu
tion OF our laws should fail to see
Ais patriotic duty in honestly and
eincereiy attempting to relieve the
htnauon. Manifesily tins effort will
not succeed unless il is made un
trammeled by the prejudice OF parti.
eanshIp AMI with the steadfast deter.
animation to resist the temptation
40 accomplish party advantages.
We may well remember, If we are
threatened with financial difiicultiss
oil our people In every station of
Hie ARE concerned, and surely
those who suffer Will not receive
the promotion of party interests
AZ hn excuse for permitting our
present troubles 10 advance to n
disastrous conclusion, 1t is also of
the utmost Importance that we ap.
prohch the study of the probIems
presented rs free AS possible from
we tyranny of preconceived opin.
ions, to the END that in n common
danger We may be able to seek
with unclouded vision safo ana
teasonable protection. The roal
trouble which confronts us oonsista
In the lack of confidence. vida.
spread ana constantly increasing, in
the continuing ability or the disnosi.
tioh OF the Government to pay Its
obligations III gold This lnck of
confidence grows to some extent ont
oil the palpable and apparent EN-
Dhrrnssment attending the efforts of
the Government under existing laws
to procure gold, and TO II greater eX.
tent ont OF The lmposslbilty of either
Reeping It Ill the Treasury or can.
ceiiing Obligations by its expendi.
cure after 1t IS obtained.
Tho only way left open TO the
government for procuring of GOLD
ie by The issne and sale of lie honds
1he only bonds that can be so issued
we're authorized nearly twenty five
gears ago. and are not well calcn.
!a'eo 10 meet our present needs.
among other disadvantages tbcy
are made payable in coin. instao1
ol specially III gold, which in exist.
'hB conditions detracts largely md
'h increasing rates from their de.
Nii"oiiitY as investments. 1t is Inv
go means certain that the bonds of
this description can much Ionoor
oe disposed OF at a nr,co
credltnble to the financial chorantor
~ our government. The most dan.
e.,"ns ana Irritating feature of the
ai'"a'ioh' however, remains TO bn
lnentioleu. 1t is found n means Inv
lis @ 'ne treasury Ia despoiled OF
gold mus obtained without rnncsI
hEg singie government obl,Cot,on
ana solely for the benefit of tLnaa
VINO ma pro.it Ill shipping it abroad