The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-01-29

ashs '""' NutNOriLc anu
Empowor tho Secretary OF tho
Treasury TO Issue Long limo Gold
Donds "a Insure tho Security OF tho
Gold Observation-Disclosures ot tho
Proseut System OF Issuing Bonds.
Opposed TO Increasing tho lscye.
nucs Tho Document lteoaivod
woli by both Parties.
WASHINGTON, D. O., Jan. 2s.-There
was q good attendance OH tho floor
when the house met to-day in apticipa.
tlon ottheP %reaidents mes.ageand mum.
bars s,ood around In little knots speuu.
lasiug OF is contents and discussing
generally the Treasury situation. Post.
master General Disssll wAs on tho floor
comforting With somo OF the Democratic
leaders The house was not kept long
10 su,pen,e. While Mr., Lynch. Dem,
Wis., was trying TO get unanimous con.
sent to consider q bill to quie, the title
TO certain lands in Wisconsin, Mr.,
Pruden, President Clsvelaud's exocu.
tive clerk, appeared and announced a
message In writing from tho President,
Nj. Lynch'a request MAS Immediately
objected to and Speaker Pro Tom Rich,
ardson laid the message before the
house. As the clerk began reading tho
members took their seats and listened
with Intense eugeruess TO every word.
Mr.. Reed, Mr.. Dingley, aud other Re.
publican leaders, followed the Pre.i.
dents argument as clossly AZ did the
Democrats,
THE MESSAGE.
bM Soiass cad U9pe Of Representative:
In my last annual message | com.
mended to the serious consideration OF
Congress tha condition OF our national
finances, and in. connection with tho
subject endorsed the plan Of currancy
legislation which NJ that time seemed
to furnish protection against impending
danger. This plan hos not been mp.
proved BY the Congress, In the mean
time the situation has so changed that
the emergency now appears so threat
ening that ! deem II my duty to ask ut
the hands Of the legislative branch Of
the government such prompt and efTec-
tive action as will restore confidence in
our financial soundnsss aud avert busl-
ness disaster and universal distress
among our people, whatever NAV be
the merits Of the plan outlined in my
annual message As a remedy for lila then
existing and as q safeguard against tho
depletion OF the gold reserve then in the
treasury, ! am now convinced that its
reception by the Congress and our pros
ent advapced stage OF financial perplex.
ity neces'iiates additional or different
legislation,
With natural resources unlimited In
variety and productive strength, and
with a people whose activity and enter
prise seek. only AFFAIR opportunity 10
achieve national success aud greatness,
our progress should no. be checked BY
. false %tinanoia! policy and q heedless
Disregard Of sound monetary laws. nor
should tha ,imidity aud fear which they
ongsnder stand in the way Of u pros
perity,
1tis hardly disputed that this predic.
nment CONFRONT. u. to-day. Therefore,
no n in any degree responsible for the
making aud execution Of u laws
should fail to see Q patriotic du,y In
honestly aud sincerely attempting to
relieva tho situation. Mahifestly this
effort will not succeed pnles, i Is made
untrammeled by tho prejudice OF parti-
sanship and with asieadiast determine.
ton to resist the temptation TO accom-
plish party advantage. We ma we'll
remember that II 80 are threatened
with financial tifieul,ie, all our people
in every station oil life are concerned.
and surely those who suffer will not re.
ceive.the promotion oil party interests
as an excuse for permitting our prasen,
trouble to advance to a disastrou. con.
clusiop, It 10 also OF the utmost im-
portance that we approach the study OF
the problems presented as free as pos.
sibla from tho tyranny OF preconceiyed
opinions, to the end that 10 q common
danger wa mny be able to seek with un-
clouded vision q safe and reasonable
protection,
LAos OF o9SplpEseR.
Tho real troubla which caufr0nts US
c~onalata in a lack OF confidence, Wide.
spread and constantly increasing, In the
continuing ability or disposition O. the
government TO pay i,s obligations In
gold. This lack Of condolences srows TO
sope o2tsnt out Of the palpahla aud an.
parent embarrassment attending the
ctlorE OF tho government under exist
ing lava to procure gold. and to n greater
extent out Of the inposslbiljiy Of either
keeping it In the treasury or csnceling
obligations by i.s expenditure after it Is
obtained.
The only way lott open to the govern
Insnt Tor procuring gold Ia BY the issue
aud aa!e OF bonds. rhe only bonds that
can be SO issued wore authorized nearly
twenty-five yenrs ago, and nre not we'll
calculated 10 maat our praaent needs.
Among other disadvantages they arc
made payable In coin Instead Of apecil.
cGlly in pold, which in existing condi.
lions de.rao,s largely and In m increua.
INK ratio from thclr d~eslrability as IN.
ves.menL. Il Is by no msanH certain
that bonds Of this description can much
longer DO disposed OF NJ q price cradita.
BILE to tho financial character Of our gov.
ernmeRt.
THE DANGEROUS FEATURE.
Tho most dancerou, and irritating
fsa.uro Of tho situation, however,. re-
mains To be mentioned. It 10 iound in
tho "a by which tho treasury 10 do
applied Of the gold thus obtained with
out cancelling u single govornmont OBJ.
legation and solely for tho benefit Of
those Yho find nrn0tl In Rhlnpinp II