Page:The Presidents of the United States, 1789-1914, v. III.djvu/330

 278 LIVES OF THE PRESIDENTS other civilized states, nor is it justified in permit ting an exaggerated and unreasonable reliance on our national strength and ability to jeopardize the soundness of the people s money. This matter rises above the plane of party politics. It vitally concerns every business and calling, and enters every household in the land.&quot; The house promptly, and by a large majority, repealed the obnoxious provisions. In the senate a strong and determined minority resisted the re peal, and, taking advantage of the unlimited de bate there permitted, delayed action for many weeks. In the heat of the contest a compromise was practically agreed upon in the senate, which was defeated only by the firm opposition of the president. He insisted upon unconditional repeal, which was finally enacted November 1, 1893. Soon after, one of the suggested measures of compromise, which provided among other things for the immediate coinage of so much of the silver bullion in the treasury as represented the seignior age (declared to be $55,156,681), was embodied in a bill which passed both houses of congress. This bill the president vetoed as &quot;ill-advised and dan gerous.&quot; He said: &quot;Sound finance does not com mend a further infusion of silver into our currency at this time unaccompanied by further adequate provision for the maintenance in our treasury of a safe gold reserve.&quot;