The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1895-12-28
MESSAGE ON FINANCE.
The President Says a Crises Is APP
preaching.

WASHINGTON, Dec. 2O.-Following is the
message sent to Congress by President Cleve-
land today:
TO tire Congress: In my last annual mes
age the evils of our present financial system
were plainly pointed out and the causes and
means Of the depletion of government gold
were explained. 1t was therein stated that
after all the efforts that had been made by
the executive branch of the government 10
protect our gold reserve by the issuance of
bonds amounting to more than Sl62, 900, 900,
such reserve then amounted to but little more
than $40 200, 900: that about SIG, 900 had
been withdrawn from such reserve during the
month next previous to the date of that mes
sage, and that quite large Withdrawals for
shipment in the immediate future were pre-
dicted.
"The contingency then feared has reached
us, and the Withdrawals of gold since the
communication referred to, and others that
appear inevitable, threaten such Il depletion
i'll 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 quar-
tiers of sudden and unusual apprehension and
timidity in business circles.
''We are in the midst of another season of
perpleXity, caused by our dangerous and
expected to recur with certainty AZ long as
there is no amendment to our financial sys
tom. If, in this particular instance, our pre-
dicament is at all influenced by recent in
sistence upon the position we should occupy
in our relation to certain questions concern
ing our foreign policy, this furnishes sig
nal and impressive warning that even the
patriotic sentiment of our people is not an
adequate substitute for a sound financial
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 APP
prehension that the American people will be
satisfied with less than an honest payment of
our public obligations in the recognized
money of the world We should not overlook
the fact. however, that aroused fear is unrea-
sOning and must he taken into account i'll all
efforts to avert public loss and the sacrifice of
our peoples interests.
The real and sensible cure for our recurr
ing troubles can only he effected by a complete
change in our financial scheme. 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 confidence in the resources of
our country and the constant patriotism of our
people.
''In view, however, of the peculiar situation
now confronting us, have ventured herein
to express the earnest hope that the Congress,
in default of the inauguration of better sys-
TEN of finance, will not take recess from its
labors before it has by legislative enactment
or declaration done something not only to
remind those apprehensive among our people
that the resources Of this government and the
scrupulous regard for honest dealing afford a
sure guarantee of unquestioned safety and
soundness, but to reassure the world that,
with these factors 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.
Il ask at the hands of the Congress such
prompt aid as it alone has the power to give
to prevent in a time of fear and apprehension
any sacrifice of the peoples interests and the
public funds or the impairment of our public
credit in an effort by executive action to
relieve the dangers of the present emergency.
"GROvER CLEVELAND,
Executive Mansion, December 20, 1898.