The record-union., 1895-12-21
THE GOLD RESERVE.
ANOTHER MESSAGE SENT TO con-
GRESS.
The President Says Further Action for
Its Protection is Made Necessary
by Heavy Withdrawals.

WASHINGTON, Dec. 20.-The fol-
lowing message was sent to Congress
| by President Cleveland to-day:
To Congress: In my last annual mes
sage the evils of our present financial
system were plainly pointed out and the
causes and means of depletion of Gov
ernment gold explained. 1t was therein
stated that after all efforts that could
| be made by the Executive branch of
| the Government to protect our gold re-
serve by the issuance of bonds amount
| ing to more than $162, 100000, such re-
serve would then amount to but little
more than S79,000,000; that about SIG
600, 900 had been withdrawn from such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 immediate future were predicted.
| The contingency then feared has since
reached US and the withdrawal of gold
| since the communication referred to
| and others that appear inevitable
| threatens such depletion in our Govern
| ment gold reserve as brings us face to
! face with the necessity of further ac-
| tion for its protection. This condition
| is intensified by the prevalence in GER
| tain quarters of sudden and unusual
| apprehension and timidity in business
| circles. We are in the midst of another
| season of perpleXity caused by our dan
| gerous and fatuous financial OPERA
| tions. These may be expected to recur
| with certainty as long as there is no
amendment in our financial system. If
| in this particular instance our 'predic-
| ament is at all influenced by recent
| inSiStance upon the position we should
| occupy in our relation to certain ques-
| tions, this furnishes a signal and i'm
pressive warning that even the patri-
otic sentiment of our people is not an
adequate substitute for a sound finan-
| cial policy.
OF course there can be no doubt in
| any Thoughtful mind as to the complete
| solvency of our Nation, nor can there
! be any just apprehension that the
American people will be satisfied with
| less than an honest payment of our
| public obligations in recognized money
| of the world
We should not overlook the fact, how
ever, that the aroused fear is unreason-
! ing, and must be taken into account in
| all efforts to avert public loss and sac
| rifice of our peoples interest. A real
and sensible cure for our recllrrin g.
| troubles can only be effected by a com
plete change in our financial scheme.
A. Pending that, the Executive branch
] of the Government will not relax its
| efforts nor abandon its determination
| to maintain before the world the Amer
| can credit, nor will there be any hesita-
| ton in exhibiting it's confidence in the
resources of our country and constant
| patriotism of our people.
In view, however, of the peculiar sit
uation now confronting u.s. l have ven
| tured to herein express the earnest hope
| that Congress, in default of the inaug-
| ration of a better system of finance.
will not take a recess from its labors
| before it has, by legislative enactment
| or declaration, done something not only
| to remind those apprehenSive among
| our own people that the resources of
| this Government, and Scrupulous re-
! gard for honest dealing afford a sure
| guarantee of unquestioned safety and
| scundness, but to reassure the world
| that with these factors and patriotism.
| our citizens ability and the determine
tion of our Nation to meet in any cir
cumstances every obligation it incurs.
! do not admit of question.
| I ask at the hands of Congress such
prompt aid as it alone has power to
| give, to prevent, in time of fear and
| apprehension, any sacrifice of the peo-
| pies interests and public funds or the
| impairment of our public credit in an
| effort, by Executive action, to relieve
| the dangers of our present contingency
| GROVER CLEVELAND
Executive Mansion, December 20
| 1895