Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1895-12-06

sired TO avail themselves Of the provi-
sions of the law thus modified, could
iss 10 circulation In addition to that al
ready outstanding, amounting to $41o,-
900, GOO, which would nearly or quite
equal the currency PROPOSED to be can
celled At any rate, / should confident
iy expect to see the eXisting&nationai
banks or others to be organized avail
themselves OF the proposed encourage
ments to issue circulation, and promptly
fiji any vacuum and supply every cur
rency need.
I do not overlook the fact that the
cancellation of the treasury notes lsI
sued under the silver purchasing act q
1890 would leave the treasury IN the
actual ownership of sufficient silver, ~ IN
GLIDING segnorage, to coin nearly NO.
600 900 in standard dollars. 1t is worthy
of consideration whether this might NOT,
from time to time be converted INTO doi-
lars or fractional coin and SLOWLY put
into circulation, as in the judgment OIL
the secretary of the treasury the neces-
stiles of the country should require.
Whatever Is attempted should be en-
4 tered upon fully approaching the facc
/ that by careless, easy descent we nave
reached dangerous depth, ana tha1
our ascent will not be accomplished
without laborious toll and struggle.
! WE shall be wise If we realize that
we ere financially i'll and that our
| restoration to health may require heroic
| treatment and unpleasant remedles,
| and ii we could look to our gold receipts as
means of maintaining a safe reserve the
amount Of our revenues would be an influential
factor iii the problem. But unfortunately, all
the circumstances that might lend weight 70
! this consideration are entirely lacking.
In our present predieainent no gold is re-
ceiyed by the government in payment OF rev
enue charges nor would there be II the rev
aruac were Increased. The receipts OF the
treasury when not in silver certificates con-
sst OF United States notes and treasury notes
issued for silver purchases. These forms oI
money are only useful to the government IN
paying its current ordinary expenses, ana i.s
quantity in government possession does not ~
the least contribute toward giving us thai
kind of safe financial standing or condition
which is built on gold alone
Very little mention is made of the tariff
outside of it's relation to the financial
question.
Free Silver Coinage.
The message winds up with an appeal to
. the advocates of free silver to reconsider
, their proposition before further financial
disturbances are caused.
In conclusion, / especially entreat
. the peoples representatives in the con
! gress who are charged with the re
sponsibility of inauguraung measures
for the safety and prosperity OF ouI
common country, to promptly and eff
5 fectiyely consider the ills of our crttica
y financial plight. 1 have suggested {
t remedy which my judgment approves
: l desire, however, to assure the congress
r that am prepared to cooperate will
n them in perfecting any other measure
e promising thorough and practical re
: lief. and that 1 will gladly labor will
e them in every patriotic endeavor to- fur
: Their the interests and guard the welfar
: of our countrymen, whom in our re
r spective places of duty we have under
I taken to serve.
y GROVER CLEVELAND.