New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-05
PRICE THREE CENTS!
THE INAUGURAL ADDRESS.
PRESIDENT MKINLEY'S VIEWS
WISE AND STATE, MAN-LTKE POLICY
FORESHADOWED.

TARIFF REVISION AND MORE REVENUE FOR rHD
GOVERNMENT THE MOST PRESSING DEMAND
OF THE HouR-A CURRENCY COMMISSION
FAvoRED-rIRM AND DISNirIED con-
DUCT OF FOREIGN AFFAIRs-AN
EXTRA SESSION OF CONGRESS TO
De CALLED FOR MARCH Is.
Washington March 4.The full text OF Presi.
dent McKiney's Inaugural Address s as follows:
FellowCitzens: In obedience to the will Of
the people, and In their presence, by the au-
thority vested In me by this oath, / assume tho
arduous and responsible duties ot President Of
the United States. relying on the support Of my
countrymen and invoking the guidance OF Al
mighty God. Our faith teaches that there Is
no safer reliance than upon the God Of our
fathers. who has so sIngularly favored the
American people in every National trial. and
who will not forsake US SO long obey His
commandments and walk humbU in His foot.
steps.
The responsibilities OF the high trust TO which
/ have been called-always Of grave Importance
are augum, by the prevailing business
conditions. entaing idleness upon willing labor
and loss TO useful enterprises. The country il
suffering from Industrial disturbances from
which speedy relief must be had. Our financial
system needs some revision, our morey Is all
good now, bat its value must not further be
threatened. 1t should all be put upon an endur.
Ing basis not subject to easy attack, nor its sta.
bty to doubt dispute.
THE CURRENCY QUESTION.
Our currency should contiI ue under the super
vision Of the Government The several forms OF
our paper money offer. in my Judgment, con-
slant embarrassment to the Government and
safe balance in the Treasury. Therefore I be-
lieve it necessary to devise a system which. with.
out diminishing the circulating medium or offer
ing premium for its contraction. will present a
remedy for those arrangements which. temporary
in their nature. might well in the years OF our
prosperity have been displaced by wiser pro-
visions. With adequate revenue secured, but not
until tken we can cr;e- upon such changes IN
our fiscal laws as will. while insuring safety
and volume 10 our money, no longer Impose upon
the Government the necessity OF maintaining
so large a gold reserve with its attendant and In
evitable temptations to speculation Most 81
our financial laws are the outgrowth Of expert
ence and trial. and should not ne amended with.
out investigation and demonstration OF the wis.
dom Of the proposed changes. We must be both
"sure are right" and make haste slowly"
A CURRENCY COMMISSION FAVORED.
r. therefore Congress in its wisdom shall deem
It expedient to create a commission to take under
early consideration the revision OF our coinage.
banking and currency laws. and give them that
exhaustive. careful; and dispassionate examina-
tion that their Importance demands | shall cordi-
ally concur in such action. II such power IL
vested in the President 1t Is my purpose to ap-
point commission of prominent well-informed
citizens of different parties who will command
,,,iIi nath tOf fbai nj
and special fitness for the work. Business ex-
perience and public training may thus be com.
bined and the patriotic zeal OF the friends Of the
country be so directed that such report VIII he
made as to receive the support of all parties and
our finances cease to b, the subject OF mere
partisan contention. The experiment is, at all
events worth a trial. and. in my opinion. 1t can
but prove beneficial TO the entire country.
INTERNATIONAL BIMETALIIsM
The question of international bimetaism will
have early and earnest attention. II 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 supported 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 Governmtnt. the interity OF its currency.
and the inviolabty Of its obligations must b
preserved This was the commanding verdict
of the people, and it will not be unheeded.
ECONOMY AND REVENUE.
Economy is demanded In every branch Of the
Government at all times but especially in peri.
DDS like the present of depression In business
and distress among the people. The seyerest
economy must be observed in all public expendi-
lures and extravaganza stopped wherever II 10
found and prevented wherever in the future IL
may be developed
II the revenues are 10 remain now. the only
relief that can come must be from decreased ex-
penditures. But the present must not become
the permanent condition Of the Government. Il
has been our uhiform practice to retire, not IN
crease, our outsta lding obligations. and this
policy must again be resumed and vigorously
enforced Our revenues should always be large
enough to meet with ease and promptness NOT
only our current needs and the principal and in
terest Of the public debt. but to make proper
and liberal provision for that most deserving
body OF public creditors, the soldiers and sailors
and the widows and orphans who are the pen.
sioners OF the United states.
The Government should not be permitted to
run behind or Increase its debt in times like the
present Suitably To provide against this is the
mandate OF duty: the certain and easy remedy
for most OF our financial difficulties a deficiency
is inevitable SO long as the expenditures OF the
Government exceed its receipts. IL can only DO
met by loans cr an increased revenue While
large annual surplus OF revenue may invite
waste and extravaganza, inadequate revenue
creates distrust and undermnes public and prt'
vate credit Neither should be encouraged.
MORE REVENUE NEEDED.
Between more loans and more revenue there
ought TO be but one opinion We should have
more revenue and that without delay. hindrancs
or postponement. A surplus In the Treasury
created by loans Is not a permanent or safe re.