Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1895-12-25
ANOTHER MESSAGE.
President says the Long Feared
Financial Crisis is Now
UnOn Us.

Washington, D. c., Dec 20.-At 4:40
p. m. the President sent another mes
sage to Congress and it is being read
in the Senate.
The message was as follows:
To the Congress: In my last annual mes
sage the evils of our present financial sys-
tenn were plainly pointed out and the
causes and means of the depletion of gov
ernment gold were explained. 1t was there
in stated that after all the efforts that had
been made by the executive branch Of the
government to protect our gold reserve by
the issuance of bonds amounting to more
than $162. 0O0, 900, such reserve then amount
ed to but little more than $79. 600 900; that
about 5000, 900 had been withdrawn from
such reserve during the month next previ-
Gus to the date of that message and quite
large Withdrawals for shipment in the i'm
mediate future were predicted
Contingency Has Reached Us.
The contingency then feared has reached
US. and the withdrawal of gold since the
communication referred to and others that
appear inevitable threaten such a depletion
in our government gold reserve as brings US
face TO face with the necessity of further
action for its protection. This condition is
intensified by the prevalence in certain
quarters of sudden and unusual apprehen-
sion and timidity in BUSINESS circles.
We are in the midst of another season Of
perpleXity, caused by our dangerous and
fatuous financial operations These may
be- be expected sG,d t, to recur with certainty as
cial system. If in this particular instance
our predicament is at all Influenced by a
recent lnsistence upon the position we
questions concerning our foreign policy
this furnishes signal and impressing warn
ing that even the patriotic sentiment of our
people is not an adequate substitute for
sound financial policy.
Nation is, of Course, Solvent.
Of course. there can be no doubt in any
thoughtful mind as to the complete solvency
OF nation there he inst
prehenson that the American people will
be satisfied with less tilan an honest pay
ment of our public obligations in the recog-
nized money of the world We should not
overlook the fact however, that aroused
fear is unreasoning and must be taken into
account in all efforts to avert public loss
and the sacrifice of our peoples interests.
The real and seisible cure for our recur-
ring troubles can only be effected by a
complete change in our financial system.
Pending that the executive branch of the
government will not relax its efforts nor
abandon its determination to use every
means within its reach to maintain before
the world American credit, nor will there
be any hesitation in exhibiting its conf
dence the resources Of our country and
the constant patriotism of our people.
Ia view, however, OF the peculiar Sltua-
ton now confronting US, ] have ventured
TO herein express the earnest hope that the
Congress, in default of inauguration of a
better system of finance, will not take a re-
cess from its labors before it has by legis-
latiVe enactment or declaration done some
thing. not only to remind those apprehen-
sive among our people that the resource of
this government and scrupulous regard
for honest dealing afford a sure guarantee
Of unquestioned safety and Soundness, but
to reassure the world that with these fac
tors and the patriotism of our citizens the
ability and determination of our nation to
meet in any circumstances every obligation
it incurs do not admit of question.
/ ask at the hands of the Congress such
prompt aid it alone has the power to
give, to prevent, in time of fear and ap-
prehension. any sacrifice of the people s
interests and the public funds or the i'm
pairment of public credit in an effort
by executive action to relieve the dangers
of the D resent contingency.
GROVER CLEVELAND.
Executive Mansion, Dec 20, 1895.
Senate Adjourms Tomorrow.