GROVER CLEVELAND.

[Footnote 15:  See p. 476.]

[Footnote 16:  See p. 557.]

EXECUTIVE MANSION, Washington, February 4, 1895.

To the House of Representatives: 

In response to the resolution of the House of Representatives of the 1st instant, calling for certain information touching the recent insurrection in the Hawaiian Islands, I transmit herewith a report of the Secretary of State, with accompanying papers.

GROVER CLEVELAND.

EXECUTIVE MANSION, February 7, 1895.

To the House of Representatives: 

In compliance with a resolution of the House of Representatives of the 2d instant, the Senate concurring, I return herewith the bill (H.R. 5377) entitled “An act granting a pension to Richard R. Knight.”

GROVER CLEVELAND.

EXECUTIVE MANSION, Washington, February 7, 1895.

To the Senate: 

I transmit herewith, in response to a resolution of the Senate of the 16th ultimo, a report from the Secretary of State, accompanied by copies of certain correspondence touching the enforcement of the provisions of the tariff act of 1894.

GROVER CLEVELAND.

EXECUTIVE MANSION, February 8, 1895.

To the Congress of the United States: 

Since my recent communication to the Congress calling attention to our financial condition and suggesting legislation which I deemed essential to our national welfare and credit[17] the anxiety and apprehension then existing in business circles have continued.

As a precaution, therefore, against the failure of timely legislative aid through Congressional action, cautious preparations have been pending to employ to the best possible advantage, in default of better means, such Executive authority as may without additional legislation be exercised for the purpose of reenforcing and maintaining in our Treasury an adequate and safe gold reserve.

In the judgment of those especially charged with this responsibility the business situation is so critical and the legislative situation is so unpromising, with the omission thus far on the part of Congress to beneficially enlarge the powers of the Secretary of the Treasury in the premises, as to enjoin immediate Executive action with the facilities now at hand.

Therefore, in pursuance of section 3700 of the Revised Statutes, the details of an arrangement have this day been concluded with parties abundantly able to fulfill their undertaking whereby bonds of the United States authorized under the act of July 14, 1875, payable in coin thirty years after their date, with interest at the rate of 4 per cent per annum, to the amount of a little less than $62,400,000, are to be issued for the purchase of gold coin, amounting to a sum slightly in excess of $65,000,000, to be delivered to the Treasury of the United States, which sum added to the gold now held in our reserve will so restore such reserve as to make it amount to something more than $100,000,000.  Such a premium is to be allowed to the Government upon the bonds as to fix the rate of interest upon the amount of gold realized at 3-3/4 per cent per annum.  At least one-half of the gold to be obtained is to be supplied from abroad, which is a very important and favorable feature of the transaction.