The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1895-12-28
Washington, Dec. 22.-Ihe following
message was sem to congress by
President Cleveland today:

Washington, Dec. 22-The following
message was sent to congress by
President Cleveland to-day:
To the Congress: In my last annual message
the evils Of our present financial system were
plainly pointed out and the causes anu means of
1t was therein stated that after all the efforts
that had been made by the executive branch OF
the government to protect our gold reserve by
SIZE, 0W, 600, such reserve then amounted to but
little more than $4,000, 900; that about SIS,
600. 600 had been withdrawn from such reserve
during the month next previous to the date OF
that message, and quite large withdrawals for
shipment in the immediate future were predicted;
the withdrawal Of gold since the communication
referred to, and others that appear inevitable.
threaten such ,u a depletion 'p 1aoa IN IN our our Government me ao g"il
sity of further action for It's protection. This con
dition is intensified by. the prevalence in certain
quarters of sudden and unusual apprehension and
tIniidity in business circles.
We are in the midst of another season OF per
hI Financial e opsrat,o %s III These a'n nay be ' Expected su.I0" to
rccur with certainty as long as there is no amend
ment in our financial system. II In this particular
a recent insistence upon the position we should
occupy in our relation to certain questions con.
and Impressive warming that even the patriotic
sentiment of our people is not an adequate SUBJ
stitutc for Il sound financial policy.
America TX Solvent.
or course, there can be no doubt in any
thoughtful mind as to the complete solvenry OF
our nation, or can there be any just apprehension
less than an honest payment of our public obliga-
tions III the recognized money of the world. We
aroused fear is unrensonlng, and must be taken
into account in all efforts to avert public loss
and the sacrifice Of our peoples interests.
troubles can only be effected by II complete
change in our financial scheme. Pending that
the executive branch of the government will not
rpllY It's efforts nor abandon iS determination to
use every means witnin its reach to maintain
before che world American credit, nor Will there
be any hesitation in exhibiting Its confidence In
the resources Of our country and the constant
patriot ism of our people:
confronting us, l have %vcntnred to herein express
the earnest hope that the congress, in default Of
the Inauguration of Il better system Of finance,
will not take n recess from Its labors before it
has, by legislative enactment Or declaration,
done something not only to remind those apprehen-
sivc among our people that the resources Of this
dealing afford a sure guarantee OF unauestioned
safety and soundness. but to reassure the world
citizens the ability and determination Of our ma
ticn to meet in any circumstances every obliga-
ton 1t incurs do not admit of question.
/ ask at the hands of congress such prompt AID
as it alone has the power to give to prevent, IN
a time of fear and apprehension. any. sacrifice of
impairment of our public credit in an effort by
executive action to relieve the dangers Of the
p'f Easeuti Son's Msnnion, Dee. 20 @'1 isos. o''e''ND'
Slump in Wall Street.
New York, Dec. 22-The stock mar
ket was wildly excited. The break
away came to most people in the
street as Il total surprise, nothing be-
ing in sight over night to portend any
extraordinary developments. Before
the opening, however, matters began
to a questionable shape in
the judgment of Wall street veterans.
The first quotations received for
American securities from London Gre
ated a sensation and prepared the
bankers and brokers for a stormy day.
The prices recorded showed declines
extending to ) per cent and the Lon
don market reported decidedly
ragged" Each successive cable i'll
Dictated still lower figures, and it was
finally reported that many '.jobbers'
on the London stock exchange had re-
fused to accept orders. The u%nfavora-
BILE news was conceded with prepare
tons by the gold shipping houses for
Saturdays exports to Europe. The in
itial trading was highly sensational
and declines were made all along the
line. extending to 4 IL per sent. Like
the London selling, the bulk of the
sales represented liquidation. Before
midday. breaks. extending to 1G ~ in
Lead, preferred. had been made. In
the time specified three failures were
reported on the New York stock *
change and m on the consolidated
Only enc, that of S. s.
Sands e. Co.. was of financial i'm
pOrtance. Two or three failures also
occurred IN Boston.
The Feeling In England.
London, Dec. 22.-As an effect Of
the publication here Of cablegrams
quoting presidents of certain cham
bers Of commerce in the United States
as being opposed to war with Great
Britain over the Venezuelan boun-
Diary question. there was a slightly
better feeling on the stock exchange
to-day. though the markets were still
unsettled and almost an entire alb
sence of business, attributable in part
to the nearness of the holidays. Con-
soils fell 1-16 to Is, but other first
class securities were generally firm.
Americans, however, continue very
fiat, though there were n or two
fractional gains. Baron Rothschild,
discussing the situation, said to a rep
resentative of the Associated Press:
from a business point of view,
opinions cannot differ. All / want is
peace" Continental opinion continues
to support Great Britain, and this Is
naturally made most Of by the English
newspapers. Only the the Russian
opinion thus far received has been
non-committal.
Canada Getting Ready.
Ottawa, Ont, Dec. 22.-Oficials of
the government claim that in cast of
war between Great Britain and the
United States, Canada could, in twen-
ty-four hours. put 10000 fully
equipped men into the field and hold
any force the United States is likely
to bring against this country in check
for n couple of months at least. The
situation is generally viewed as n
Of the greatest gravity, calling for
prompt preparations for defense, but
not for any alarm. In the event Of
hostilities, Gen. Montgomery Moore,
commander of the imperial forces at
Halifax, would take charge Of the
defense as the senior imperial officer
of the country. The Journal says on
the Venezuelan question: 'The do
minion government should take time
by the fOrelOck and take all RESPONSE
bile steps to insure our making as
good a showing as we can IL invasion
comes. Immediate application should
he made TO the home government for
commission Of officers to cooperate
with some of our WI in deciding upon
Il plan Of action"