The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-04-15
THE EXECUTIVE GRATIFIED
Prophecies of His Official Position Pre-,
vent Acceptance
Cheering Words for the Success OF the Finan-
ciaI royemcnt Written-Full Text
of the Presidents Letter
WASHINGTON. April 14.-The follow
ing is the text OF President CIeve!and's I

Gentlemen IL am much Sratlneu by
the exceedingly kind and complimentary
invitation you have rendered me on be-
half of many citizens of Chicago to be
their guest at a gatherig in the interest
of sound money and wholesome financial
doctrine. My attachment to this cause
is so great and | know so well fthe hospi-
tality of and kindness of she people of
Chicago that my personal inclination is
strongly in favor of accepting your latter
ing invitation; but my judgmentSnd my
estimate Of the proprieties of my official
place oblige me to forego the enjoyment
of participating in the occasion you
contemplate.
II hope, however, that event will mark
the beginning of an earnest and agrees
i've effort to disseminate among the peo-
pie safe and prudent financial ideas.
Nothing more imp ortant can engage the
attention of patriotic citizens. because
nothing is so vital to the welfare of our
fellow countrymen and to the strength,
prosperity and honor of the nation.
The situation confronting us demands
that those VINO appreciate the Importance
OF this subject, and those who ought to be
the first to see impending danger, should
no longer remain indifferent CT over-conti-
dent.
If the sound money sentiment abroad
in the land is to save us from mischief
and disaster, it must be crystalized and
combined and made Immediately active.
1t is dangerous to overlook the tact that
a vast mum Der of our present opportunities
thus far to examine the question in all
its aspects. have nevertheless been lngen-
iously pressed with Suggestions which, in
this time of misfortune and depression.
find willing listeners prepared to give
credence to any scheme which is plaus-
ibly presented as remedy for their I'M
fortunate condition.
What is now needed more than any
thing else is plain and simple presenta-
ton of the agument in faver of sound
money. In other words, III is a time for
the American people to reason together
as members of great nation which can
promise them q continuance OF pro-
lection and safety only so long as its SOL
yency is unsupported, it's honor unsullied
and the soundness of its money unques
TONED. These things are i'll exchanged
for the illustrations of debased currency
and groundless hope of advantages to be
gained by disregard of our financial
credit and commercial standing among
the nations of the world. If our people
were isolated from all others and if the
question OF our currency could be treated
without regard TO our relations to other
countries, its character would be a matter
of comparatively little Importance. If
the American people were only con-
cerned in the maintenance of their prec-
ious life among themselves, they might
turn to the old days of barter, and in this
primitive manner acquire from eachother
the materials to supply the wants of their
existence. But if American civilization
were satisfied with this. it would un-
doubtedly fail in its high and noble
mission.
In these restless days the farmer Is
tempted by the assurance that though our
currency NAV be debased. redundant and
uncertain, such situation will improve
the price of his products. Let lis remind
him that he must buy as well as sell:
that his dreams of plenty are shaded by
the certainty that If the price OF things
he has to sell is nominally enhanced the
cost of things he must buy will not re-
main stationary; that the best prices
which cheap money proclaims are unsub-
slaptial and delusive. and that even if
they were real and palpable be must nee
essarily be left far behind in the race for
their enjoyment.
1t ought not to be difficult to convince
the wage Garner that it would reach him
lesst + all and last of all. In an unheal-
thy stimulation of prices an increased
cost of all the needs of his home must
belong to his portion, while he is at the
same time veXed with vanishing visions
of increased wages and an easier lot.
The pages of history and experience are
full of this lesson. An insidious attempt
is made to create prejudice against the
advocates of Il safe and sound currency by
the insinuations, more or less directly
made, that they belong to financial and
business classes and are therefore not only
out of sympathy with the common people
OF the land, but for selfish and wicked
purposes are willing to sacrifice the in ter
ests of those outside their circle.
believe that capital and wealth,
through combination and other means,
sometimes gain and undue advantage; and
it must be conceued that the maintenance
of q sound currency may, i'll a sense, be
invested with greater or less import
ance to individuals according to their
condition and circumstances. 1t is only
adherence in degree, since it. is utterly
impossible that anyone in our broad land,
rich or poor, whatever may be his occu-
patton or whether dwelling in center of
finance and commerce, or i'll remote
corner of our domain. can be really bene-
fitted by a financial scheme not alike
beneficial to all our people, or that any
one should be excluded from common
and universal interest IN the safe charac-
ter and stable value of the currency of the
country. In our relations to this ques-
ton we are all in business, for we all
buy and SELL So we all have to do with
financial, operations. for we all earn
money and spsnd it: We cannot SI es-
and dealers are in each neighborhood and
each has its shops and manufacturers.
Wherever the wants of man exist. bust
mess and finance in some degree are
found, related III one direction to those
whose wants they supply and in an
other to the more extensive business and
finance to which they are tributaries. A
huctuation in price at the seaboard is
known the same day or hour in the re-
motest hamlet. The discredit or depre-
citation in financial centers of any form
of money in the hands of the people is
a signal of immediate loss everywhere.
If reckless discomfort and wild expert
ments should sweep our currency from
its safe support, the moset defenceless of
all who suffer in the time of distress and
national discredit, would be the poor as
they reckon Their loss in their scanty sup
port and the laboler and working man
as he sees the money he has received for
his toll shrink and shrivel in his hands
when he tenders it for the necessaries to
supply his humble home.
Disguise it as we may, the line of bat
tie is drawn between the forces of safe
currency and those of silver mono metal
lism. will not believe that if our peo-
pie are afforded an intelligent opportun-
ity for sober second thought they will
sanction schemes that, however cloaked,
mean disaster and confusion, nor that
they will consent. by undermining the
foundation of safe currency endanger
the beneticlent character and purposes of
their government. Yours very truly,
GROVER CLEVELAND.
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