The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-03-04
THE new POLICY
President Mckinley Out
lines His Programme in
His Inaugural Ad-
dress.
DICKERING WITH SILVER
Flabby Talk About Interna-
tional Bi-metalism and
a Commission.
ECONOMY IN EXPENDITURES
New Tariff Demanded and Re-
yiyal Of the Reciprocity
Humbug.
PLATITUDEs ON FOREIGN AFFAIRS
Grasuitou. slap at Cleveland
Apropos of the Coming Ex-
ira session of Congress.
ECONOMY IN EXPENDITURES
PLATITUDEs ON FOREIGN AFFAIRS
Apropos of the Coming Ex-
IRA session of Congress.

The following is the full text of Presi-
dent McKinley's Inaugural Address
Fellow Citizens in obedience to the
will of the people and in their presence
by the authority vested in me by this
oath, assume the ardous and responsible
duties of President of the United States,
relying on the support of my countrymen
and invoking the guidance of Almighty
God. Our faith teaches that there is no
safer alliance than upon the God OF our
fathers, who has singularly favored the
American people in every national trial
and who will not forsake us so long as
we obey his commandments and walk
humbly in his footsteps
The responsibilities of the high trust
to which I have been called-always of
grave Importance are suggested by the
the prevailing business conditions, entail
ing idieness upon the willing labor and
loss to useful enterprises. The country is
suffering rrom Industrial disturbances,
from which speedy relief must be had.
Our financial system needs some revision,
our money is all good now, but its value
must not further be threatened 1t should
all be put upon an enduring basis, not sub
ject to easy attack, nor its stability to
doubt or dispute. Our currency should
continue under the supervision
of the Government. The sew
eral forms of our paper money
offer, in my judgment, a constant
embarrassment to the Government and a
safe balance in the treasury. Therefore,
I believe it necessary to devise a system
which, without diminishing the circulat-
for
it's contraction, will present remedy for
those arrangements, which, temporary in
their nature, might we'll in the years of
our prosperity have been displaced by
wiser provisions. With adequate revenue
secured, but not until then, we can enter
upon such changes in our fiscal laws as
will, while inSurng safety and volume
to our money no longer impose upon the
Government the necessity of maintaining
SO large a gold revenue, with its attend
ant and inevitable temptatfons to specula-
ton. Most of our financial laws are the
outgrowth of experience and trial, and
should not be amended without, investi-
cation and demonstration of the wisdom
of the proposed changes We must be
both Sure we are right" and T. Make Max.
in its wisdom shall deem it expedient to
create commission to take under early
consideration the revision of our coinage
them that exhaustive, careful and dispas-
sionate examination that their Importance
demands, shall cordially concur in
zese vesed aat0a an the Presidsn Eaah P3Wsn IS my
purpose to appoint commission of
prominent, well informed citizens of diff
ferent parties, who will demand public
confidence both on account of their ability
and special fitness for the work. BUSH
ness experience and public training may
thus be combined, and the patriotic zeal
of the friends of the country be so di-
rected that such a report will be made as
n
our finances cease to be the subject of
mere partisan contention. The expert
ment is, at all events, worth trial, and,
in my opinion it can but prove beneficial
to the entire country.
The question of international bimetal-
lism will have early and earnest atten-
ton. 1t will be my constant endeavor
to secure 1t by cooperation with the
other great commercial powers Of the
world. Until that condition is realized
when the parity between our gold and
silver money springs from and is sup
ported by the relative value of the two
metals, the value of the silver already
coined, and of that which may hereafter
be coined. must be kept constantly at
par with gold by every resource at our
command. The credit of the Govern
ment the integrity of the currency, and
the inviolability of it's obligations must
be preserved This was the commanding
verdict of the people and it will not be
unheeded.
Economy is demanded In every branch
of the Government at all times, but es-
pecially in periods like the present of
depression in business and distress among
the people. The severeSt economy must
be observed in all public expenditures,
and extravaganza stopped wherever 1t is
found, and prevented wherever in the
future 1t may be developed If the rev.
enues are to remain as now, the only re-
lief that can come must be from de-
creased expenditures But the present
ton of the Government 1t has been our
uniform practice to retire, not increase,
our outstanding obligations, and this pol
ously enforced. Our revenues should al
ways be large enough to meet with ease
and promptness not only our current
needs, and the principal and interest of
the public debt. but to make proper and
liberal provision for that most deserving
body of public creditors, the soldiers and
are the pensioners of the United States,
The Government should not be permit
ted to run behind, or increase the. debt,
provide against this IS the mandate Of
duty; the certain and easy remedy for
most of our financial difficulties. A de-
penditires Of the Government exceed its
receipts. 1t can only be met by loans,
or an increased revenue. \ While a large
%aafs surpSs a of exrsSse rsysass ay nsd nSe
quate revenue creates distrust and
nndSFminss under Nstnerp puPbls sba1,d and private
Between more loans and more revenue.
there ought to be but one opinion. We
should have more revenue, and that with
out delay, hindrance or postponement. A
surplus In the Treasury created by loans
is not a permanent or safe reliance. 1t
will suffice while It lasts, but 1t cannot
last long while the outlays of the Gov
ernment are greater than Its receipts, as
has been the case during the past two
years. Nor must 1t be forgotten that
however much such loans may tempora-
rily relieve the situation, the Government
is still indebted for the amount OF the
surplus thus accrued, which 1t must ui-