Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-12-21
WEAKNESS
OF the National Pinan-
Cial System.
POINTED OUT TO CONGRESS ny THE
PRESIDENT.
A SPECIAL MESSAGE
/ CLEVELAND DECLARES THAT THE
PRESENT SYSTEM OF FINANCE
is INADEQUATE
Ana Requests Congress Not TO Take
Recess. unui some Change Has
Ha. Dccn Adopted.
A SPECIAL MESSAGE

Washington. Dec. 20. The following
message from the president was sent
TO congress late this afternoon:
To the congress; In my last
annual mcssnge the evils OF our pres
ent financial system were plainly
polluted out and the causes OF the de-
plotion or tho government gold were
explained II was therein stated that
after the efforts had been made by
the executive branches OF the govern
mcnt TO protect our gold reserve by
the Issuance of bonds, amountlng to
more than si62 100000, such reaerves
then amounted TO but little more than
y7p0OO.OO0 that about SlGOOO.OOo had
been Withdrawn from such reserve
durmg the month next previous TO the
dnto OF that message. ana that quite
large withdrawals tor shipment In the
immediate future were predicted.
The contingency then feared has
reached us, and the Withdrawals of
gold since tho communication referred
10 and othcrs that appear Inevitable
thr,ipton such depletion In out gov
crnment gold reserve "a brings US lace
to face with the necessity OF further
action for its protection. THIS cohui-
ton ~ intenaincd by the prevalence IN
certain quarters OF sudden ana unus-
uul apprehension and tlm.dity In buhl-
meas circles. We are In the midst OF
another season of doubt. cnuaod by our
dangerous ana f0tuouH financial oper-
ationH. These may be expected To re-
cur with certainty az long ah thure Ia
no amendment In our financial syn-
tenn II In this particular instance our
! prodicament Ia nj all influenced by u
! recent lngistcncc upon the position we
should occupy In our relation 10 GER
l tain questions concerning our foreign
| policy, this fufnishpa signal ana
/ Impressive warning that even the pa
| trOtio sentiment of our people IL not
an adequate substitute for sound imam
| cinl policy,
or course there can be doubt In any
| thoughtful mind ns to tho complete
! aolvoncy Of our nation, nor can thore
be any lust apprehension that the
American people viii ho satisfied with
less than an honeat payment OF cur
public obligations Ia the recognized
money of the world, We should not
overlook the fact, however, that the
! aroused fpar is unreasonable and must
be taken into account In all efforts TO
| nycrt public loss and the sacrifice OF
| our peoples interest.
Tho real and frequently recurring
troubles can only be aycrlcd by a com
plcto change In our financial scheme
| Pending that the executive branch
OF the government VIII not relax itH
cfrorta nor abandon It's dctcruina-
ton to use every means within itf
roach 10 maintain before the world
an American credit, nor will there be
any hesitation In exhibiting It's comb
dcnce In the resources OF our country
and the constant patriotism Of ouI
people. In View. however, OF ina Pc
culinr situation nov confronting us
| have yentured TO herein express III,
onrnest hope that the congress, IN de-
fault OF the Inauguration of n better
ayatem Of finance, Will not tnke re-
cess from It's labor before II has bj
legislative enactment or declaration
done something not only TO remind
those npprehensiye among cur ;eopl,
TINT the resources OF this government
and n Hcrupulous regard for lloncsl
dealing AFFORD n sure guarantee Of un
questioned safety and soundnesa. but
10 renssure the world that with thesi
faotors and the patriotism Of our citi
zcns. the ability and determination ol
our nation to meet In my olrcum
etnnces every obligation II incurs doei
not admit OF question.
I nsk at the hands OF tho congrea'
such prompt aid thai II alone has th'
mower 10 give 10 prevent In time oi
fenr End apprehension any sacrifice o.
the peoples interest, and the public
FUNDS Or the imrnirinent OF our pub
lie credit In an effort by executive nc
tion TO relieve the dangers of the pres
dsIenedJ GROVER CLEVELAND
Executive Mansion. December 20
1909