The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1896-01-08

drawals would continue for some time
brought the Administration face to face with
the necessity for action without moments
delay. The President sent a message to
Congress putting the situation bsfore that
| body, and plainly saying there ought to- be
no recess for the holidays. or for any other
purpose, until some action has been taken to
correct the evils of our system Of finance and
insure the confidence Of tho world in the
credit Of the Government and the scundness
Of the Treasury. He makes no specific rec
concentrations. further than calling atten-
ton to those made In his last annual mes
sage. His message on the subject Is as fol-
lows: 80, "
To the Congress:
In my last annual message the evils Of onr
present financial system were plainly pointed
out and the causes and means Of the deple-
tion of Government gold were explained.
It was therein stated that after all the efforts
that had been made by the executive
branch of the Government to protect
bonds amounting to more than $162, 900 900,
such reserve then amounted to but little
more than S79, ,000, 900; that about GIG. 900, :
900 had been withdrawn from such reserve
during the month next previous to the date
Of that message, and that quite large with
drawaIs for shipment In the immediate
future were predicted.
The contingency then feared has reached
us, and the Withdrawals of gold since the
communication referred to and others that
appear inevitable, threaten such depletion
in 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-
ters Of sudden and unusual apprehension
and timidity in business circles.
We are in the midst of another season OF
perplexities. caused by our dangerous and
| fatuous financial operations. These may be
expected to reour with certainty as long as
there Is no amendment In our financial sys-
tenn. II In this particular instance our pre-
| dicament Is at all Influenced by recent in
| 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 sound financial
policy.
thoughtfui mind as to the complete solveroy
OF our Nation, nor can there ba;any just ap-
prehension that tho 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 over
look the fact, however. that aroused fear Ii
unreasoEing and must be taken into account
in all efforts to avert public loss and the
sacrifice Of our peoples interests. 81.
The real and sensible cure for our recur-
ring troubles can only be effected by COM
.plete change in our financial scheme. Pend
Ing that the executive branch OF the Gov
ernment 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 hesi-
tation 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 to
herein express the earnest hope that the Con-
gress, in default of the Inauguration Of a
better system of finance, will not take re-
latiye enactment or declaration. done some
thing not only to remind those appre-
hensfve among our people that the re-
sources OF this Government and scrupulous
regard for honest dealing, afford a sure
guarantee of unqueshoned safety and sound
ness, but to reassure the world that with
these factors ana the patriotism OF our citt-
zens, the ability and determination OF our
Nation to meet in any circumstances every
obligation 1t incurs do not admit OF ques-
ton.
ask at the hands of the Congress such
prompt aid as it alone has the power to give
to prevent in time of fear and apprehen-
sion 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, 1895.