The daily gazette. [volume] (Wilmington, Del.) 1874-1883, 1881-03-05

variations in the relative value OF the
two metals, but / confidently believe
that arrangements can be made between
the leading commercial nations which
will secure The general use OF both
metals. Congress should provide that
the compulsory coinage of silver now re-
quired by law may not disturb our none
tary system by driving either metal out
OF circulation. If possible, such an ad-
JUS -ment should be made that the pur-
chasing power of every coined dollar
will be exactly equal to its debt-paying
power in all the markets of the world.
The chef duty of the National Gov
ernment IN connection with the cur
rency of the country is to coin money
and declare its value. Grave doubts
have been entertained whether or not
Congress is authorized by the Constitu-
ton to make any form Of paper money
legal tender. The present issue of Uni
ted States notes has been sustained by
the necessities of war, but such paper
should depend for its value and currency
upon its convenience in use end its
prompt redemption in coin at the will
of the no der and not upon compulsory
circulation. These notes are not money,
but promises to pay money. If the
holders demand it, the promise should
be kept.
The refunding of the national debt at
lower rate of interest should be accom-
plished without compelling the with
drawal of the national bank notes, and
thus disturbing the business of the
country.
venture to refer to the position Ihave
occupied on finan cial questions during .
long service in Congress, and to say that
time and. exerience have strengthened
the opinions have 40 often expressed
on these subjects.
The finances of the Government shall
suffer no detriment which it may be pos
| sible for my admi tration to prevent.
The interests of agriculture deserve
moro attention from the Government
| than they have yet received,
The farms of the United States afford
homes and employ ment for more than
one half OF our people, and furnish much
the largest part of our exports. AS the
Government lights our COT is for the
henotit of commerce, SO 1t should give
to the tillers of the soil lights of pracucal
science and experience.
The address favors the right of the
Government TO exercise authority over
the InterOceanic Canal as shall protect
our ndtlOudl luIeTbhL5, COUuomuS mOE-
moDism, tavors the establishment of .
civil service regulated by law, and con-
| cIudes as follows:
Finally, acting always within the
authority and limitations of the Consti-
tuition, Invading neither the rights or
| the States nor the reserved rights of the
people, it will be ihe purpose Of my nd.
ministration to maintain the authority of
| the nation, and in all places within its
| Jurisdiction to enforce obedience to al
| laws of the Union, in tie interest of the
| people; to demand rigid economy in all
| the expenditures of the Government
and to require the honest and faithful
service OF all executive officers, remep .
bering that the offices were not ere ated
for the benefit of the incumbents OF
their supporters, but for the service oi
the Government.
And now, fellow citizens, am abou
to assume the great trust which you hay
: comm itted to my hands. l appeal 10
that earnest and thoughtful supper
which makes this Government in fact
as IL is in law, a Government of tn
people.
shall greatly rely upon the wisdom
and patriotism of Congress, and of th0s'
who may share with me the responsi
bilities and duties of the administrator
And, above all, upon our efforts =
promote the welfare of this great peopl
ard their Government, / raverentiall
invoke the support and blessings of Al
| mighty God.