Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1895-01-28
PRESIDENTS MESSAGE.
Mastery Exposition Of the Grave FL
nancial Crisis that COnfrOnts
the Country.
Earnest Appeal to Congress for Prompt
Remedial Observation-Disclosures
Credit Must be Preserved.

Remedial Legislation-Natienal
Creo1t Must % FfesefVea'
-
u,L,. To, 90 Tho ros;do,,
80 - ,on.,oss +ho touou;na
'-""' ''0'
message:
10 the senace ana mouse OF rePreseh,
ta1lves: IN my ias' annual message
comhenoeo 70 'ne SERIOUS consioela'ion q
OF congf cohoieloh VI our na'ionai
nnances anu "a conheceion WIN 1he SUP
lect lndorsed the pian OF currency leg
isiation ~hich at tnat !lme seemed 'o
iurnlsn Rrotection aRainst lmpenalng
DANGER Ahis pian mas no' oeen approved
Dy congress- III ene ueahe,no ult
sltuatlon mas 80 cnanged ana che emer,
gency now appears so 'hreatenlng that
ueeI !! my ou1y 70 ASK q. 'he nahos o. o.
ene ieRisla'ive oranch oi 'he government !,
such Pro"Po anu enec'ive ac'ion as WI,
res'ore connoence III our nnAnciai SOUND,
ness % ana aver aver business alsas'er ,1 aho
universal distress among our people
a,.l. Nnu.eves may % 1ne niellss oI 'ne P!an ,a
ou.l,neo Ia my ahnuai message lor liis
e1istlng ana as safeguard againso
treasury, am now convinced that our
present
ADVANCED STAGE OF FINANCIAL PERP1Ex1TY
neoessitate additional or different legis.
latlon. With natural resources unlimited
in variety and productive strength, with
people whose activity and enterprise
seek only fair opportunity to achieve
national success and greatness, our pro-
gress should not be checked by false
financial policy and needless disregard OF
sound monetary laws, nor should the
timidity and fear they engender stand in
the way of our prosperity. 1t is hardly
disputed that a predicament confronts us
to-day, therefore no one in any degree
responsible for making and executing
our laws should fail to see the patriotic
duty in honestly and sincerely attempt.
ing to relieve the situation. Manlfestly
this effort will not succeed unless it is
made untrammeled by the prejudice OF
partisanship and with steadfast determi
natl on to resist the temptation
TO accept such party advantage.
We NAV we'll remember that if
"o arc aneoeoo "t'n nnanoioA uih'eu''ies'
ALL ooh PEOPLE AXE ooNohHNED'
and surely those who suffer will not re.
ceive the promotion of party interest az
an excuse for permitting the present
troubles to advance to a disastrous con.
clusion,
"It is also of the utmost Importance
that we approach the study of the prob
lens presented as free az possible from
the tyranny of preconceived opinions to
the end that, in the common danger, we
may be able to seek with unclouded
vision safe and reasonable protection
The real trouble which confronts us con.
sists in lack of confidence, widespread
and constantly increasing, in the contin.
uing ability or disposition of the govern
,ment to pay it's obligations in gold. This
lack of confidence grows to some extent
out of the palpable and apparent embar.
rassments attending the government
under existing laws, to procure gold, and
to a greater extent out of the impossi
blity of either keeping it in the treasury
or cancelllng obligations by it's expendi
ture after it is obtained.
oNhf WAX hhfi ofhS'
"The only way left open to the govern
ment Of procuring gold is by the issue and
sale of bonds. The only bonds that car
be issued were authorized nearly 25
years ago and are not we'll calculated to
meet the preset needs. Among other dis.
advantages they are made payable in coin
instead of specifically in gold, which in
existing conditions detracts largely and
!, ;rnxoos;nr, roA;o fro,, thai, dao;rob,l;%,
III !noreaslns laOiJ i.onl 0noli uooliaoiioy
tain that bonds of this description can be
much longer disposed of at a price cred
liable to the financial character of our
government. The most dangerous and
Irritating feature of the situation, how.
ever, remains to be mentioned. II is
found in the means by which the treasury
ia despoiled of the gold thus obtained
without cancelinp a single poyernmen,
obligation and solely for the benefit OF
those who find profit in shipping il
abroad or whose fears induce them
to hoard Il at home. We have outstand.
ipg about s5O0OOO 600 Of currenoy notes
of the government for which gold NAV
be demanded. and, curiously enough, thu