The President’s Veto

President Cleveland vetoed the Bland Seigniorage Bill, a bill that would have converted the Silver bullion in the treasury into coin, causes objections from the Southern and Western States.

President Cleveland's veto of the Bland Seignoirage Bill has caused much unfavorable criticism in the southern and western states and threatened with destruction the party he represent.
His main objection is that to coin all of the silver bullion in the treasury and thereby secure the the Seignoirage they're on would be to inflate the currency at you further increase the Beavers condition in the money market.
It would tend to disturb the parity between silver and gold, and the consequences might be disastrous to the nation's interest.
The president States very plainly, however, that he would sign such a bill as the one just vetoed, provided it was property drawn up and also gave the Authority for the issuance by the Secretary of the Treasury of sufficient bond for the replenishing of the gold reserve. The present condition of the country requires the attention of the most skillful financers who are also imbued with a patriotic love of country.
We regret to say that mr. Carlisle has demonstrated his incapacity in the position to which he has been assigned and it will be a long time before the country will again be burdened with an official whose knowledge of Finance is Elementary well his desire for spoils is abnormal.

“The President’s Veto,” Black Virginia: The Richmond Planet, 1894-1909, accessed April 24, 2025, https://blackvirginia.richmond.edu/items/show/1568.