nusual apprehension and timidity in business circles.

We are in the midst of another season of perplexity caused by our
dangerous and fatuous financial operations. These may be expected to
recur with certainty as long as there is no amendment in our financial
system. If in this particular instance our predicament is at all
influenced by a recent insistence upon the position we should occupy in
our relation to certain questions concerning our foreign policy, this
furnishes a signal and impressive warning that even the patriotic
sentiment of our people 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 solvency of our nation, nor can there be any just apprehension
that the 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 overlook the fact, however, that aroused fear
is unreasoning and must be taken into account in all efforts to avert
possible loss and the sacrifice of our people's interests.

The real and sensible cure for our recurring troubles can only be
effected by a complete change in our financial scheme. Pending that
the executive branch of the Government 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
hesitation 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,
I have ventured to herein express the earnest hope that the Congress,
in default of the inauguration of a better system of finance, will not
take a recess from its labors before it has by legislative enactment or
declaration done something not only to remind those apprehensive among
our own people that the resources of their Government and a scrupulous
regard for honest dealing afford a sure guaranty of unquestioned 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 obligation it incurs do not admit of
question.

I ask at the hands of the Congress such prompt aid as it alone has
the power to give to prevent in a time of fear and apprehension any
sacrifice of the people's interests and the public funds or the
impa