Notwithstanding the popular revolt against the Republican policy
which was disclosed by the fall elections of 1890, President
Harrison's annual message of December 9, 1891, was marked by
extreme complacency. Great things, he assured the people, were
being accomplished under his administration. The results of the
McKinley Bill "have disappointed the evil prophecies of its
opponents and in large measure realized the hopeful predictions
of its friends." Rarely had the country been so prosperous. The
foreign commerce of the United States had reached the largest
total in the history of the country. The prophecies made by the
antisilver men regarding disasters to result from the Silver
Bullion Purchase Act, had not been realized. The President
remarked "that the increased volume of currency thus supplied for
the use of the people was needed and that beneficial results upon
trade and prices have followed this legislation I think must be
clear to every one." He held that the free coinage of silver
would be disastrous, as it would contract the currency by the
withdrawal of gold, whereas "the business of the world requires
the use of both metals." While "the producers of silver are
entitled to just consideration," it should be remembered that
"bimetallism is the desired end, and the true friends of silver
will be careful not to overrun the goal." In conclusion, the
President expressed his great joy over "many evidences of the
increased unification of the people and of the revived national
spirit.
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