NAT-Grover Cleveland/Second Presidency (Part 1)

Date: 5-17-2001

THE MAKING OF A NATION #141 - GROVER CLEVELAND/SECOND PRESIDENCY, PART 1

By FRANK BEARDSLEY
VOICE ONE:

THE MAKING OF A NATION -- A PROGRAM IN SPECIAL ENGLISH BY THE
VOICE OF AMERICA.

(THEME)

I'M SHIRLEY GRIFFITH. TODAY, FRANK OLIVER AND I BEGIN THE STORY OF
GROVER CLEVELAND'S SECOND PRESIDENCY.

VOICE TWO:

IN MARCH, EIGHTEEN-EIGHTY-NINE, PRESIDENT GROVER CLEVELAND LEFT
THE WHITE HOUSE AFTER FOUR YEARS AS PRESIDENT. HE HAD BEEN
DEFEATED BY BENJAMIN HARRISON.

AS THE PRESIDENT AND HIS WIFE LEFT, MISSUS CLEVELAND SPOKE WITH A
MEMBER OF THE WHITE HOUSE STAFF. SHE SAID: "I WANT YOU TO TAKE
GOOD CARE OF EVERYTHING. I WANT TO FIND IT THE SAME WHEN WE COME
BACK. AND WE WILL BE BACK...IN FOUR YEARS."

MISSUS CLEVELAND WAS RIGHT. SHE AND HER HUSBAND MOVED BACK INTO
THE WHITE HOUSE AFTER HE BECAME PRESIDENT AGAIN IN
EIGHTEEN-NINETY-THREE. GROVER CLEVELAND IS THE ONLY MAN TO SERVE
TWO TERMS SEPARATED BY THE ADMINISTRATION OF A DIFFERENT
PRESIDENT.

VOICE ONE:

CLEVELAND DID NOT WANT TO BE PRESIDENT AGAIN. BUT HE WAS WORRIED

ABOUT THE FUTURE OF THE UNITED STATES. HE DID NOT THINK
PRESIDENT HARRISON COULD SOLVE THE SERIOUS ECONOMIC PROBLEMS THE
COUNTRY FACED.

PRESIDENT HARRISON HAD APPROVED VERY HIGH TAXES ON IMPORTS. HE
ALSO HAD APPROVED AN INCREASE IN THE SUPPLY OF SILVER MONEY.
GROVER CLEVELAND SAID BOTH ACTIONS HAD HURT THE ECONOMY. HE ALSO
FEARED THAT HARRISON WAS NOT STRONG ENOUGH TO OPPOSE THE DEMANDS
OF SPECIAL INTEREST GROUPS IN THE REPUBLICAN PARTY.

CLEVELAND BELIEVED HE WAS THE ONLY DEMOCRAT WHO COULD DEFEAT
HARRISON. HE WON HIS PARTY'S NOMINATION. AND HE WAS EASILY
ELECTED TO A SECOND PRESIDENCY.

VOICE TWO:

GROVER CLEVELAND IMMEDIATELY TURNED TO THE NATION'S ECONOMIC
PROBLEMS. THE COUNTRY SEEMED HEADED FOR A SERIOUS DEPRESSION.

ONLY A FEW DAYS BEFORE CLEVELAND'S SECOND INAUGURATION IN
EIGHTEEN-NINETY-THREE, A MAJOR RAILROAD FAILED. THEN ANOTHER BIG
COMPANY DECLARED FAILURE. THIS SET OFF A SELLING PANIC ON THE
STOCK MARKET.

IN THE NEXT FEW MONTHS, ALMOST EIGHT-THOUSAND BUSINESSES FAILED
IN THE UNITED STATES. FOUR-HUNDRED BANKS CLOSED. ONE-MILLION
WORKERS LOST THEIR JOBS. THE PRICES OF FARM PRODUCTS FELL LOWER
THAN EVER BEFORE. AND THOUSANDS OF FARMERS -- UNABLE TO PAY
THEIR DEBTS -- HAD TO GIVE UP THEIR FARMS.

VOICE ONE:

EXPERTS OFFERED A NUMBER OF DIFFERENT REASONS FOR THE DEPRESSION.
SOME SAID IT WAS A PLOT BY MEMBERS OF THE STOCK MARKET TO RUIN
FARMERS AND SEIZE THEIR LAND. SOME SAID IT HAPPENED BECAUSE
AMERICAN FACTORIES WERE PRODUCING MORE GOODS THAN PEOPLE COULD
USE. STILL OTHERS SAID THE PROBLEM WAS CAUSED BY THE
GOVERNMENT'S MONEY POLICY.

FOR MANY YEARS, THE UNITED STATES AND OTHER NATIONS USED BOTH
GOLD AND SILVER AS MONEY. PAPER MONEY WAS USED TO REPRESENT A
NATION'S GOLD AND SILVER HOLDINGS. THE VALUE OF SILVER WAS TIED
TO THE VALUE OF GOLD.

IN THE UNITED STATES IN THE EARLY EIGHTEEN-HUNDREDS, FIFTEEN
OUNCES OF SILVER HAD THE SAME VALUE AS ONE OUNCE OF GOLD. THIS
VALUE DID NOT CHANGE UNTIL AFTER EIGHTEEN-SIXTY. THAT WAS WHEN
MINES IN THE WESTERN UNITED STATES BEGAN TO PRODUCE LARGE AMOUNTS
OF SILVER. THE EXTRA SILVER CAUSED THE PRICE OF THE METAL TO
FALL.

VOICE TWO:

IN EIGHTEEN-SEVENTY-ONE, GERMANY DECLARED THAT IT WOULD NO LONGER
SUPPORT ITS PAPER MONEY WITH SILVER. INSTEAD, IT WOULD USE ONLY
GOLD. OTHER EUROPEAN COUNTRIES QUICKLY DID THE SAME THING.

THE UNITED STATES DID, TOO. IN EIGHTEEN-SEVENTY-THREE, CONGRESS
PASSED A LAW THAT STOPPED THE GOVERNMENT FROM USING SILVER AS
MONEY. WESTERN SILVER PRODUCERS PROTESTED. THEY PUT GREAT
PRESSURE ON LAWMAKERS TO CHANGE THE LAW. FIVE YEARS LATER,
CONGRESS PASSED A COMPROMISE BILL.

THE COMPROMISE BILL SAID THE GOVERNMENT COULD ISSUE LIMITED
AMOUNTS OF SILVER MONEY. IT SAID THE GOVERNMENT MUST BUY
TWO-MILLION DOLLARS' WORTH OF SILVER EACH MONTH FOR THAT PURPOSE.

VOICE ONE:

TWELVE YEARS LATER, DURING PRESIDENT BENJAMIN HARRISON'S
ADMINISTRATION, CONGRESS PASSED A NEW SILVER PURCHASE BILL.

IT SAID THE GOVERNMENT MUST BUY FOUR-AND-ONE-HALF MILLION OUNCES
OF SILVER EACH MONTH. THE TREASURY DEPARTMENT WOULD BUY THE
SILVER WITH NEW PAPER MONEY THAT COULD BE EXCHANGED FOR SILVER OR
GOLD. THE NEW LAW INCREASED THE AMOUNT OF SILVER MONEY USED IN
THE UNITED STATES.

THE COUNTRY SOON BECAME SHARPLY DIVIDED ON THE ISSUE OF SILVER
MONEY.

WEALTHY BUSINESSMEN AND BANKERS DID NOT WANT TO USE SILVER MONEY
AT ALL. THEY WANTED THE COUNTRY'S ECONOMY TO BE BASED ONLY ON
GOLD. THIS WAS WHAT WAS KNOWN AS THE "GOLD STANDARD." THEY
BELIEVED THE GOLD STANDARD WOULD KEEP THE VALUE OF THE DOLLAR
HIGH. USING SILVER, THEY SAID, MADE THE DOLLAR LESS VALUABLE.

VOICE TWO:

FARMERS, LABORERS AND OTHERS WANTED TO USE SILVER MONEY. AND
THEY WANTED AN UNLIMITED SUPPLY OF IT. WITHOUT SILVER, THEY
SAID, THE COUNTRY'S MONEY SUPPLY WOULD BE TOO SMALL. GOLD WOULD
INCREASE IN VALUE. PEOPLE WHO HAD BORROWED MONEY WOULD BE HURT.
THEY WOULD HAVE TO PAY BACK LOANS WITH DOLLARS THAT WERE MORE
VALUABLE THAN THOSE THEY HAD BORROWED.

PRESIDENT CLEVELAND SUPPORTED THE GOLD STANDARD. HE OPPOSED ANY
USE OF SILVER FOR MONEY. HE SAID THE UNITED STATES SHOULD USE
ONLY GOLD, AS OTHER NATIONS DID.

VOICE ONE:

PRESIDENT CLEVELAND WAS SURE THE SILVER PURCHASE LAW OF
EIGHTEEN-NINETY HAD CAUSED THE ECONOMIC DEPRESSION. HE EXPLAINED
THE SITUATION IN THIS WAY:

THE LAW HAD CAUSED BUSINESSMEN AND INVESTORS TO LOSE FAITH IN THE
GOVERNMENT'S MONEY POLICY. THEY WERE AFRAID THEIR MONEY WOULD
DROP IN VALUE, AS MORE SILVER MONEY WAS PUT INTO USE.

INVESTORS BEGAN TO WITHDRAW THEIR MONEY FROM BUSINESSES. BANKS
BEGAN DEMANDING EARLY PAYMENT OF LOANS. EVERYONE WANTED GOLD.
THEY TOOK THEIR PAPER MONEY AND THEIR SILVER TO THE GOVERNMENT
AND EXCHANGED THEM FOR GOLD.

IN EIGHTEEN-NINETY, WHEN THE SILVER PURCHASE ACT WAS PASSED, THE
GOVERNMENT HELD ALMOST TWO-HUNDRED-NINETY MILLION DOLLARS IN
GOLD. AFTER TWO YEARS, WITHDRAWALS HAD CUT THAT AMOUNT TO
ONE-HUNDRED MILLION DOLLARS.

VOICE TWO:

PRESIDENT CLEVELAND AND OTHER ADMINISTRATION OFFICIALS BEGAN TO
WORRY. IT WAS POSSIBLE THAT GOLD HOLDINGS MIGHT FALL SO LOW THE
GOVERNMENT COULD NOT SUPPORT THE DOLLAR.

CLEVELAND DECIDED THE ONLY ANSWER WAS TO GET CONGRESS TO KILL THE
SILVER PURCHASE LAW. THEN THE GOVERNMENT COULD STOP BUYING
SILVER. IT COULD RETURN TO THE GOLD STANDARD.

THE CONGRESS WAS NOT IN SESSION, HOWEVER. IT WOULD NOT MEET
AGAIN FOR SEVERAL MONTHS. PRESIDENT CLEVELAND DID NOT WANT TO
WAIT. HE BELIEVED THE PROBLEM WAS TOO SERIOUS. SO, HE CALLED A
SPECIAL SESSION OF CONGRESS.

THE PRESIDENT DID NOT EXPECT AN EASY TIME WITH THE CONGRESS.
MANY CONGRESSMEN SUPPORTED SILVER MONEY -- ESPECIALLY THOSE
CONGRESSMEN FROM SILVER-PRODUCING STATES IN THE WEST.

VOICE ONE:

PRESIDENT CLEVELAND BELIEVED HE COULD GET CONGRESS TO KILL THE
SILVER PURCHASE LAW. BUT IF HE SHOWED ANY WEAKNESS, THE FIGHT
WOULD BE LOST. THEN, JUST BEFORE THE CONGRESSIONAL DEBATE, HE
LEARNED HE WOULD NEED AN OPERATION.

HE FELT A ROUGH SPOT IN THE TOP OF HIS MOUTH. IT GOT BIGGER AND
MORE PAINFUL. DOCTORS EXAMINED THE SPOT. IT WAS A CANCER.
PRESIDENT CLEVELAND ASKED HOW LONG HE COULD WAIT TO HAVE THE
CANCER REMOVED. "IF IT WERE IN MY MOUTH," ONE OF THE DOCTORS
SAID, "I WOULD HAVE IT REMOVED IMMEDIATELY."

VOICE TWO:

CLEVELAND AGREED. BUT HE SAID THE OPERATION WOULD HAVE TO BE
KEPT SECRET. NEWS FROM THE WHITE HOUSE OFTEN AFFECTED SHORT-TERM
ACTIVITY ON THE STOCK MARKET. NEWS THAT THE PRESIDENT'S LIFE WAS
IN DANGER COULD CAUSE THE NATION'S ECONOMIC CRISIS TO BECOME
WORSE.

CLEVELAND DECIDED TO HAVE THE OPERATION ON A FRIEND'S BOAT IN NEW
YORK HARBOR. NEWSMEN WERE TOLD HE WAS GOING SAILING WITH HIS
FRIEND.

DOCTORS MADE FINAL PREPARATIONS. THEY WERE NOT AFRAID OF THE
OPERATION. BUT THEY WERE AFRAID OF WHAT WOULD HAPPEN IF NEWS OF
THE OPERATION WERE LEAKED TO THE PRESS.

ONE OF THEM SPOKE WITH THE BOAT'S CAPTAIN. "IF YOU HIT AN
UNDERWATER ROCK," HE SAID, "HIT IT GOOD AND HARD, SO WE WILL ALL
GO TO THE BOTTOM."

VOICE ONE:

AS THE BOAT MOVED SLOWLY UP THE EAST RIVER IN NEW YORK, THE
DOCTORS PUT PRESIDENT CLEVELAND TO SLEEP WITH AN ANESTHETIC DRUG.
THEN THEY BEGAN THE OPERATION. THAT WILL BE OUR STORY IN THE
NEXT PROGRAM OF THE MAKING OF A NATION.

(THEME)

VOICE ONE:

YOU HAVE BEEN LISTENING TO THE SPECIAL ENGLISH PROGRAM, THE
MAKING OF A NATION. YOUR NARRATORS WERE FRANK OLIVER AND
SHIRLEY GRIFFITH. OUR PROGRAM WAS WRITTEN BY FRANK BEARDSLEY.

Source: www.voa.gov/special/