The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1895-02-08
TO CONGRESS-.
Message From the President on
the Financial Dilemma.
rorret Partisansh.p, and strive Only Ia
Maintain the Honor aud Credit
Of the Nation. In the Gist
Of the Message.

withdraw wing his support rom INC pam =.
outlined in the Carlisle bill, and out =
lining the only policy which seems to 0
him now possible to maintain the gold v
reserve. The message is as follows; {,
To THE SENATE AND HOUSE or REPRE- 4
sEsrArIv Es-In my last annual message 4
to the serious consideration OF !,
the congress the condition Of our national I.
anances. and In connection with the subjects d,
Endorsed the plan ofcurrency legislation W men !,
At that time seemed 10 furnish protection
against impending danger. This plan has
not been approved by congress. IN ,e
meantime the situation has so changed
and the emergency now appears so
threate. ag that l deem Tiny duty 70 ask ~
the hands o. The legislative branch OF me gov
ernment such prompt and effective actiohas
will restore confidence in our financial sound
ness and avert business disaster ana unlsersai
distress among our people. Whatever may be
the merits OF the plan outlined IN my annual
message as a remedy for Ills then existing as
safeguard against the de pletion OF the golu re-
serve then ia tsc treasury, ! am now cohslhc'u
that its reception BY the congress ana our
present advanced stage OF financial perpleXny
uecessitates additional or different legislation
With natural resources unlimited In variety
and productive strength, and win a pco-
Die whose activity and enterprise seek
only a fair opportunity 70 Achle'e
national success and greatness. our
progress should not be checked by a tAlsc
financial policy and a needless disregard OF
sound monetary laws. nor should the tinla'V
and fear which they cngender stand III ihS way
OF our prosperity
confrouts Us to-day. Therefore no one IN any
degrec responsible for the making ana cNccl-
tion OF our laws should fail % see a patrloIe
duty in honestly and sincerely attempting %
relieve the situation. Manlfc>ty th4H 'noiA
will not succeed unless II Is made untfdh-
melcd by the prejudice OF pirtlsahshs9 ana
with a steadfast determination 10 resist me
temptation 70 accomplish party advantages
We may well remember that II we are threat
.ne1 " i'm financial dificulties all our people
in every station OF life are cohcefheu'
and surely those who suffer viii not receive
their promotion 81 party interests rs an eAcusc
for permitting our present troubles 20 auVahee
TO disastrous conclusion. IL = ais" OF wy
utmost Importance that We approach the STUDY
OF the problems presented as free a. loss'p'
from he tyranny OF prcconceiyed opinions, 70
the end that Ia "A common danger we may Nc
able to see with unclouded vision q saie ana
reasonable protection
The real trouble which c~onfronts US consists
ofalack OF confidence. widespread anu con-
xtantiv increasing In the continuing abilty or
disposition OF the government - pay y oonsA-
lions in gold. This lack OF confidence grows %
some extent out OF the palpable anu appareh.
embarrassment attending the .Iorts %
The government. under existing Avs,
Ia procurc gold. and 70 a grca'
exter., out Of the impOssiblity OF ether keep
Ing il in the treasury or cancellng ooisF"'on'
by its expenditure after II Is obtained
The only way left open for the government
croru-ing gold i by the issue and sale Of u
bonds. The only bond, that can be issued Wer'
authorized nearly twenty-five years ago any
are not we'll calculated 20 meet our presen
needs. Among other Disadvantages they ar
made payable in coin instead 81 speclhcaiN y
gold. which, under existing conditions detract
LARGELY and in an increased ratio iron
their dcsirability as investments
~ no means certain that bond
~ this description can much iohee
he disposed OF at q price crcditahle TO the mar
cial character OF our government lhe mo-
dangerous and irritating feature OF the sltua
ton. however. remains 70 pc mehuoneu. y
found In the means by which the treasury
dIspossessed OF the gold thus obtained withoi
cancelling a single government opheatioh, an
xoi.ix for the benefit OF those who lind proht
shipplng Il abroad. or whose fears induce ihe'
70 hoard il at home. We have aoo'
40. oO0.U0 OF currency notes OF the goNerhmc'
for which gold may be demahueu' an
curiously enough, the law requires 'n
~h.n presented and. in fact. rcdeem'
and paid in gold they shaii pc Y
issued. Thus the same notes may DO du
many times in drawing gold from the treasur
nor can the process oe arrested as long as p'
,a,a narties. for profit or otherwise. see an q
vantage in repeating the operation. More th
kO. OOO. Ue Ia these notes have Already oeen !
deemed In gold. and Notwithstanding sueh !
demp,ion they are all still OUTSTANDING. sih
the nth day Of Janury, 1871. our bonded lnts
as,-bearinr debt has been increased siooVpi
lar the purpose OF obtaining gold TO repleni
our coin reserve. Two issues were ma
amounting TO $4,000, 9U-one IN January a
the other in November. As a result OF 'nc n
isspe there was realized something me
,hap A. 1900 in gold. Between u
issne and the succeeding one In Novemo
comprising a period Of about ten mohs
ncarly slU3. $4,000 in gold were drawn ITO"
treasury. This made The second issue ness
sarx. and upon that more ihan So-'v"W'
800 uas again realized. Between the date
mis- second issue and the present time COY
inc n period OF about two months more "
ep 10000 in gold have been WITHDRAWN II
the treasury. These large sums OF eoiu "
axpcnded without any cancellation oi COVE
m.nt obligations or in any permanent
beucntting our people or improving ouf
cuniary situation.
r,c financial events y the past year sugs
facts and conditions which should certaihiS
r,-st attention. More than sI1s .ow,Wo In gold
been drawn out OF the treasury during the
Tor the purposc OF shipment abroad or hoar'
a, nome. While nearly sios, Ooo.o0o OF thisa am
were drawn out during the nrst ten month
,ha year. n sum aggregattnk more than
thirds OF that amount, being aoout smAW
WINS drawn out during the following
,nnnths. thus Indicating a marked acvclcra
of the depicting process with the lapse OF '
The obligations upon when TINS eoiu
been withdraw from the treasury are
outstanding. and are available Tor use IN
peating the exhausting operation AZ Shor'e
tervals a. our perplcxities
uitiuns are certainly supervening tcnuh
make the bonds which may be issued V
pienish our gold less usefu. for that purpo'
An adequate gold reserve Is In all cir
stances absolutely essential 10 the upho
Of orr D 4blic credit and 20 the maintenan
our high national character. our gold re-
has again reached such u stage OF dimin
as 10 require its speedy rcinforce ncni.
ar-avaiions that must inevitably follow
snt conditions and methods will certainly
70 misfortune and loss. not only 10 our nat
credit and prosperity and 70 financial 6
prise, hut 20 those Of our people who seel
ploymcut as q means OF livelihood and 70
whose only capital Is their daily labor.
IL wi. hardly 10 TO sly that . simple inc
OF revcr ne will cure our trol
The apprehension now existing
constantly increasing as 20 our
cial ability does not rest upo
calculation % our revenue The tint
passed when the eyes OF investors a6rua
our people at home wcre nxcd up0
reveuueS Of tn. uovcrnmeut Oh. nred