The citizen. (Honesdale, Pa.) 1908-1914, 1913-02-04
is WILSON RIGHT, OR WAS
CLEVELAND RIGHT?


No wonder DR.. Woodrow Wilson S
bachelor dinner declaration of con-
tempt for expert advice from bank
ers in financial matters of grave gov
ernmental concern is attracting wide
attention. There has been no more
remarkable utterance by the Govern
or since the period of his rhetorical
autointoxication began.
Proclaiming that "freemen need
no guardians" Dr. Wilson said:
Suppose you go to Washington
and try to get at your Government.
You will always find that while you
are politely listened to, the men
really consulted are the men who
have the biggest stake-the big
bankers, the big manufacturers, the
big masters of commerce, the heads
of railroad corporations and OF
steamship corporations. Now,
l don't want a SNUG lot of experts to
sit down behind closed doors in
Washington and play Providence to
me. There is a Providence to which
l am perfectly willing to submit.
But as for other men setting up as
Providence over myself, l seriously
object"
On page 147 and the following
pages in Grover Cleveland's "Presi-
Dental Problems" published by the
Century Company in 1904 will be
found the sentiments of the last
Democratic President of the United
States on this same subject. Mr..
Cleveland is telling of the time of
the depletion of the gold reserve in
December, 1894, and January, 1895,
"a time of bitter disappointment and
miserable depression, greater than
any that had before darkened the
struggles of the Executive branch
to save our nations financial integ-
rity.'
In December, 1894, a sale OF
bonds put into the Treasury $751;
53S,500 of gold but during that
month and the following January
the Withdrawals depelted the reserve
by about $77,000,000. The extreme
gravity of the situation was set forth
by the President in a special mes
sage to Congress, but the appeal for
legislative aid was fruitless.
What did the Administration, con-
fronted by this serious crisis, involv-
ing peril to the entire fabric of the
nations business and prosperity, de-
eide to do? Did President Cleveland
denounce the Snug expert and call
for referendum of the entire body
of freemen who need no guardians
even in an emergency like this? He
tells in his narrative, and we set his
remarks against those of Governor
Wilson:
" think it may here be frankly
confessed that it never occurred tC
any of us to consult, in this emeT.
gency, farmers, doctors, lawyers
shoemakers, or even statesmen. We
could not escape the belief that the
prospect of obtaining what we need.
ed might be somewhat improved by
making application to those whose
business and surroundings qualified
them to intelligently respond"
President Cleveland sent for Mr.
j. Pierpont Morgan, who gave him
on that occasion certain disinterestet
and patriotic advice which was moi
then followed. He pointed out the
power of the Secretary of the Treas
ury, under Section 300 of the Re
vised Statutes, to purchase coin will
any of the authorized bonds of the
United States, and strongly urged
that the amount purchased should bC
not less than 100000, 1000. mo
many months afterward," continue!
Mr.. Cleveland, 81 became convinced
that on this point Mr.. Morgan made
a wise suggestion, and l have al
ways since regretted that it was no
adopted. New York Sun.