The Portland daily press., 1895-12-21

Washington. December 20.-The Presi-
dent, at 4. 90 p. m., sent the following
important message to Congress on the
financial situation:
To the Congress:
In my last annual message, the evils
of our present financial system were
plainly pointed out and the causes and
ment gold We're explained. 1t was there
in stated that after all the efforts which
u lad been made by the executive branch
Of the government to protect our gold
reserve by the issuance of bonds amount
ing to more than $12, 600, 600, such reserve
then amounted to but little more than
$40, 900, 600, that about SIC, 900, 900 had
been withdrawn from such reserve dur
ing the month next previous to the date
Of that message; and that quite large
Withdrawals for shipment in the imme-
diate future were predicted. The contin-
gency then feared has reached us and
withdrawals Of gold, since tine communi-
cation referred to- and others that ap-
pear inevitable, threaten such depletion
in Our government gold reserve as brings
US face to face with the necessity of fur
ther action for it's protection. This con-
6ition is Intensified by the prevalence in
certain 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 operations.
These may be expected to recur with
certainty as long as there is no amend
ment in our financial system. If, in this
particular instance, our predicament is
at all inufienced by recent inSistenoe
upon the position we should occupy in
our relation to certain questions concern
signal and impressive warning. that
even the patriotic sentiment Of our peo-
pie 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 solvenoy of our nation,
nor can there be any just apprehension
that the American people will be satis-
of our public obligations, in the recog
nized money of the world. We should
not overlook the fact, however, that
aroused fear Is unreasoning and m ust be
taken into account in all efforts to avert
public loss and the sacrifice of our peo-
ple's interests. A real and sensible cure
for our recurring troubles can only be
6u6CISu ny compete CuhQ&6 IN our
financial scheme. Pending that, the ex-
ecutive branch Of the government will
not relax Its efforts nor abandon it's de-
termination to use every means within
it's reach to maintain before the world
American credit, nor will there be any
hesitation in exhibiting it's confidence in
the resources of the country and the con-
stant patrioti SIN of our people.
In view, however, of the peculiar situ-
f,,o,
tured to herein express the earnest hope
that the Congress in default OF the in
auguration of better system of finance,
will not take a recess from It's labOrs be-
fore it has by legislative enactment or
declaration, sdone something not ouly to
remind those apprehensive among our
people that the resources of this govern
pent and scrupulous regard for honest
dealing afford sure guarantee of un-
questio ned 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 obli-
cation it inours, do not admit of ques-
tion. / ask at the hands of the Congress
such prompt aid as it alone has power
to give, to prevent in this time of fear
and apprehension, any sacrifice of the pso-
ple's interest and public funds or any
impairment Of our pubic credit in the
effort by executive act to relieve the dan
gers of the present emergency.
(Signd) GROVER CLEVELAND.
Executive Mansion December 90, 1895.