President Cleveland's first annual message was delivered to the
Senate on the 8th of December. He stated that:
"The fact that our revenues are in excess of the actual needs of an economical administration of the government justifies a reduction in the amount exacted from the people in its support.
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"The proposition with which we have to deal is the reduction of the revenue received from the government, and indirectly paid by the people from customs duties. The question of free trade is not involved, nor is there now any occasion for the general discussion of the wisdom or expediency of a protective system.
"Justice and fairness dictate that, in any modification of our present laws relating to revenue, the industries and interests which have been encouraged by such laws, and in which our citizens have large investments, should not be ruthlessly injured or destroyed. We should also deal with the subject in such manner as to protect the interests of American labor, which is the capital of our workingmen; its stability and proper remuneration furnish the most justifiable pretext for a protective policy."
This specific principle, if fairly and justly applied to all industries alike, would be a basis for customs duties that all would agree to, but, when made, a struggle arises in determining the articles to be protected, and those to be free of duty. The President said that the reduction should be made of duties upon the imported necessaries of life. Such articles are not imported; they are mainly produced by our own people. By common consent the few articles that are imported, classed as necessaries of life, and which cannot be produced in this country, are already free of duty. When Congress undertook to reduce the revenue it was found difficult to apply the rule suggested by the President. He said:
"Nothing more important than the present condition of our currency and coinage can claim your attention.
"Since February, 1878, the government has, under the compulsory provisions of law, purchased silver bullion and coined the same at the rate of more than $2,000,000 every month. By this process, up to the present date, 215,759,431 silver dollars have been coined."
He properly stated that the mere desire to utilize the silver product of the country should not lead to a coinage not needed for a circulating medium. Only 50,000,000 of the silver dollars so coined had actually found their way into circulation, leaving more than 165,000,000 in the possession of the government, the custody of which had entailed a considerable expense for the construction of vaults for its safe deposit. At that time the outstanding silver certificates amounted to $93,000,000, and yet every month $2,000,000 of gold from the public treasury was paid out for two millions or more silver dollars to be added to the idle mass already accumulated. He stated his view of the effect of this policy, and in clear and forcible words urged Congress to suspend the purchase of silver bullion and the coinage of silver dollars until they should be required by the business of the country. This is the same question now pending, but under circumstances of greater urgency.
The President enlarged fully upon this vital subject and has adhered to his opinions tenaciously. He was re-elected with full knowledge of these opinions and now, no doubt, will soon again press them upon Congress. The efforts made to carry into effect the policy of the President will be more fully stated hereafter. He closed his message by calling attention to the law relating to the succession to the presidency in the event of the death, disability or removal of both the President and Vice President, and his recommendation has been carried into effect by law. In conclusion he said: